Daily Chart
Daily Chart II
The attempt to cross the downtrendline from 13304 failed yet again.Bank Nifty closed below the 61.8% level of fall from 11451-10941.Having traded within the previous day's range an Inside Day pattern was made which shows indecision.The candle too formed a doji showing indecision.Since a very short term uptrend was on a pullback to this rise may occur.
Chart II shows movement with a small triangle which may lead to testing support at 11090 to complete the third leg.
Supports and Resistance marked on the charts.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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