A hanging man after a doji is bearish. The Bank Nifty is in a short term uptrend , the real body in the upper part of the day's range, a long lower shadow, and little to no upper shadow , all characteristics adhered to. The Hanging Man formation indicates trend exhaustion, and suggests a bearish reversal.Rsi14 is showing waning momentum too.
The Bank Nifty is in an upward moving channel with crucial support at 9257.
Daily charts show the next leg up progressing within the upward trendling channel.20 and 50 dema are once again in a golden cross.Oscillators show possibility of more upsides.Resistance and supports marked on charts.
Half Hourly Chart
Strong supports at 9874-9764-9619 Resistance at 10133-10224
follow me on twitter http://twitter.com/#!/lucksr
Happy Trading !!