Daily Chart II
Trade was similar to yesterday with a negative open and recovery during the day but closed just 18 points up. A higher low and higher high was however registered.The short term downtrendline shown in chart II has resistance at 10902.
Bearish indications remain with the Bank Nifty unable to move beyond the gap down area made on the 2nd of June. Conquering the recent high of 11056 would be the first pointer towards bullishness. If fails to move beyond this short term top, the fall will resume.
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