Reigning The Bank Nifty 2nd August 2012

Daily Chart 

Half Hourly Chart 

An 'Inside Day' pattern formed.It occurs when the high and the low of the previous day are not violated. Inference of this is, the market may be catching its breath before another up or down day. It is a day of indecision between bulls and bears .Further direction will be in the direction of break of the range of day one, whether upside or down.

 

The upper range of the gap was not even tested and so remains strong resistance to contend with. Up sides will have strong resistances all of which is marked on the charts.

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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com