August 22, 2014
BANK NIFTY (August Fut)
After a long consolidation, the Bank Nifty is coming out from the congestion zone of 15700 - 14800.
We are now observing a breakout from the stiff resistance of the ‘Horizontal Line’ above the 15700 mark.
During the previous session, the volume activity to picked up substantially, adding credence to the breakout.
Considering the positive placement of daily momentum oscillators, we advice traders to buy Bank Nifty (August
Future) from current level to a decline up to 15,740 for a target of
,150 in coming 3 - 4 trading sessions. The
stop loss for this trade set up can be kept at 15,550.
Source: Falcon (Chart time - IST 10.00)
CMP Target 1 Target 2 Stop-loss Status