Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, August 29, 2011

Reigning The Bank Nifty 29th August 2011

 Weekly Chart

A decisive close below the 38.2% fibo level of the entire rise from March 2009.Looks all set the test the 2010 low of 8150.This is close to the bear flag target of 8100 I have been mentioning since May 2011.The 50 % fibo level too is at 8338. This 8300-8100 area should provide good support.

 Weekly Chart II

 Having reached oversold levels a pullback could come in anytime.

Daily Chart

With no signs of stopping the bleeding checked out lower fibo levels.

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Happy Trading !!
Lakshmi Ramachandran

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