The Bank Nifty started negative opening on last day. Bank Nifty made a high of 11258.50. Yesterday Bank Nifty was showing heavy correction. At the end BANK NIFTY was closed negative at 11053.35 level with the loss of (-1.19%) -133.45. In the banking sectoral front BANKINDIA was the gainer followed by BANKBARODA. While the looser were ORIENTBANK and CANBK. And at the end breadth of the Bank Nifty's overall advance decline ratio is terribly poor 2/10. 

For the intraday share trading would be at 10955-10856, while the resistance would be 11205-11357. Last and final support exit 11000, then it test 10700 thereafter no support and likely wipe out another 1000 points easily . Trade and sustained above 12000 level will change the trend.

Maintain short position.  The C - wave seems to be falling rather quickly. The support level of  11045 on last day of the week. Wave C could drop down to   10277  The market closed below the bottom Fibonacci fan line. Prices could really fall out now. This is very bearish, Support level of  11150 was broken today. Look for a possible drop to the next support level.

Reversal from the high of last trading sessions. Now consider resistance 1070-1080 range decisively crossover will time to long side, downside major support 1035-1050.. below it will test 1030, thereafter free fall......Panic/dip to buy in small lots. No short sell. 

Support broken with volume.... Now play for short sell ....

Below 700 do not hold single stock and ultimate test 626.....there after more down side... Technically bearish and excellent fundamental stock.

Keep a stop loss 108 and 111 sell side....for target 98 thereafter review your decision.

Friday trading high 512 is a most crucial resistance...... think to buy only above that level, otherwise keep a stop loss and play for short sell.....quick money strategy to be adopted.


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