Weekly Chart
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.
Daily Chart
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.
follow me on twitter http://twitter.com/#!/lucksr
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
No comments:
Post a Comment