Daily Chart
Today's candle is bearish with no upper shadow and an insignificant lower
one.The close is below the 50 dema and the mauve trendline drawn
through the 9939 low. Crucial for the bullish case is support at 9707 on
the downtrending channel from which the Bank Nifty broke out in January
turning the scene bullish.9758 is the support line of the flag.
Half Hourly Chart
The Bank Nifty has crucial supports at 9758-9707.If breaks then the
bears will dominate else the bulls continue to hav the upper hand. Fibo
supports and resistances marked on the chart above.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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