BANK Sector : Supports at 377-380, 370, strong resistance at 400
March 11, 2011 Leave a comment
The BANK sector validated the week chart down trend resistance line at 400 and change, and for the week ahead unless it somehow manages a rebound and close above 400, chances are there will be a pullback to 380 at best. Closing at 387, if this levels fails to hold 377-380 will be the key area to watch for signs of buying, but if 377 fails a retracement to 355-360 looks possible.
If 370 holds over the next few days it will boost the chances of not only a move to 400, but a breakout and a rally to fresh highs above the November peak at 421.73