Weekly charts show 10432, shown in pink, as a solid support on closing basis since last 8 weeks. 10950 is the resistance on a closing basis depicted by the green dotted line which is also the 23.6% retracement level of rise from March 2009 lows.The Bank Nifty has closed marginally above this range at 10963.A breakout from the equilateral triangle too has occured giving a target of 12150.
A bearish candle, very nearly a shooting star, at resistance. Staying above 11111 will help shrug this bearishness.The red neckline may prove strong resistance at 11328. Support from 200 dema at 10851.
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