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Sunday, October 19, 2014

BANK NIFTY FUTURE OUTLOOK

Bank Nifty Future started on a strong note and traded with positive bias
throughout the trading session. On the higher end it broke the resistance of
15900 and moved to 16030. The bullish crossover in the daily RSI and
Stochastic is expected to add to the positive sentiment in the banking space.
However, resistance seen at 16035; sustained trades above that level may
take the index towards 16160/16400/16500. On the lower end supports are
pegged at 15875/15650/15500.

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