Bank Nifty Weekly Overview before Fed Policy

Last Week we gave the Trend Deciding level as 9976  Bank Nifty opened with Huge Gap up but 11 Sep gave us entry made low of 9980 just 4 points away from our Trend Deciding levels and achieved 2 target on upside.
The data on wholesale price index (WPI) for August 2013, the outcome of Federal Reserve's policy meeting and the outcome of Reserve Bank of India's mid-quarter review of monetary policy 2013-14 will dictate trend of Bank Nifty in the coming week. Traders needs to be cautious on overnight positions as good probability of gap up and gap down. Headge the positions. Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty on hourly chart after breaking out of the down trending line shown in blue color will now face resistance at red line @10521.Unable to cross the same pullback to..

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