Reigning the Bank Nifty 31st May, 2011

 Daily Chart

The Bank Nifty climbed above the neckline and closed above it.Now the bear flag support line will prove resistance to the on going upmove. If overcomes it then bullish momentum should increase.Macd on daily charts has given a buy in the oversold region.Stochastics and Rsi 14 are moving up after giving positive divergence.Volumes though is not very impressive.

Till the low of 10340 is held a pullback to 10780-10882-11213 is possible.




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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com