Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, May 31, 2011

Reigning the Bank Nifty Monthly Update

Monthly  Chart

The Monthly charts show weakness with a lower high and lower low candle. The recovery efforts made after the huge fall this month has formed a bullish lower shadow on the month's candle.The stochastics had given a buy last month after reaching oversold zone and is continuing to show strength.We may expect more upside as per the stochastics. But the macd is in sell and Rsi 14 too is moving down.

The range between 11978-10017  has been formed which needs to be broken for further direction.

Resistance and Supports marked on charts.

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Happy Trading !!
Lakshmi Ramachandran

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