BANK NIFTY SPOT LEVEL FOR THE WEEK 16.01.2017 TO 20.01.2017

BANK NIFTY RESIST NEAR 19000 LEVEL.

BANK NIFTY MAY COMPLETED 1 TO 5 A SET OF EW FROM 17607 TO 18966. A RALLY OF 1359 LEVEL.
 
 
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ABOVE 19020 WILL SEE FAST RALLY TOWARDS 19100 TO 19500 LEVEL.
 
WEEKLY RSI:
 
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DAILY CHART INDICATING PRICE GET RESIST AND READY FOR DOWN MOVE.
 
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HOLDING SHORT STOP NOW 19010BNS FOR TARGET 18700-18500 LEVEL.
 
FIBO RETACEMENT FROM 17607 TO 18966: 23.8%, 38.2% COMES TO 18650 & 18450 LEVEL.
 
PRICE MUST HOLD 18450 FOR FURTHER UPMOVE FOR 19500 LEVEL.
 
BUY @19030BNS FOR TARGET 19100-19250BNS LEVEL.