Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter http://twitter.com/#!/lucksr

Monday, March 7, 2011

Reigning the Bank Nifty - 7th March 2011



 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: