jupiter247
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since Apr 28, 2015
bank-nifty
banknifty
biotech
chartpattern
nifty
trendanalysis
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Bank Nifty has key resistance at 34000. Bank Nifty will be safe for long trades above 34000. Bank Nifty will most probably test 34000 level in next 1-2 weeks, to see if it can cross it. Failure to cross 34000 will create fresh downsides.
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S&P Biotech ETF (XBI) is a strong Buy currently at the lower end of its weekly range. Risk/Reward looks very favorable for a long position (Buy) and holding for next 2-3 months (8-12 weeks) for targets of 150-170.
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Bank Nifty is leading Nifty in the reversal. Upside target is about 19300, which is 1000 points above cmp. It should come in May.
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Nifty can move up from support level.
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