Daily Chart
Finally a bullish candle reiterating the fact that we are in a bullish trend. Daily emas are all bullishly aligned . A break of previous peak of 11226 is required to speed up momentum.Chart below shows the Bank Nifty spot on the down trendline joining the November 2010 highs with peak at 11226. Close above 11630 today would give a breakout above this trendline too.
A weekly close above 10658 would be bullish.
A weekly close above 10658 would be bullish.
Daily Chart
Half Hourly Chart
Yesterday I had shown a pennant formation which is a continuation pattern.The Bank Nifty continued up as per the pattern.The breakout from the pennant could see the Bank Nifty targetting 11000 and above.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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