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BANKNIFTY: Even Banknifty has also given a negative close of 17036.55,(Previous Expiry was 17212.20). Broader range of Index is 18000/16600.

From last two expiries Index is firmly holding level of 16600 indicates it will act as strong support for coming expiry too. We see the range of Index for coming expiry is 17800/16600.
For remaining sessions of current expiry we don’t see Index to go below 16600, so would advice to accumulate good quality banking stocks at every dip.  

CNXMIDCAP: On Immediate level Index has given a positive reversal from 12700 on weekly basis. On weekly charts prices suggest strong positive momentum to continue in coming week also by touching the levels of 13775.
The only concern is Index having strong resistance at 13250 on monthly charts so we would advice to book profits on every rise between (13570/13775 levels) and be with quality stocks.

After crossing its monthly multiple resistance levels around (5146/5167/5188) Index sharply surge all the way up to 5500. Still Index has strength to touch the level of 5760 (which is monthly strong resistance) in coming period.
So Team NTD would advice to book profit on every rise all the way up to 5760 levels also be in good quality stocks. 

DOW JONES: From the past few weeks we saw upsurge in Dow Jones from the levels of 15900 to 18000. On monthly charts prices are showing stiff resistance near 17800 (Previous Breakdown Level mentioned in chart).

The previous Breakdown level is acting as strong resistance and we are expecting the resistance to continue in near term. Any weekly positive close above this resistance point will open up the fresh upside target levels in Index.

  (Nov 28,2015)

Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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