Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, September 14, 2011

Reigning The Bank Nifty 14th September 2011

Daily Chart

The fall from the rising wedge continued with the early part of the session making an effort to recover thus forming an Outside Day pattern. This is a reversal pattern indicating a leg up to touch the resistance line of the expanding triangle which has developed with the yo-yo action. This resistance line nearly coincides with the 50 dema.

If the reversal fails the fall towards the rising wedge  and bearish head and shoulder target of  8710 continues.

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Happy Trading !!
Lakshmi Ramachandran

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