Bank Nifty broke above the red neckline of the bearish head and shoulder pattern shown on half hourly charts.This is a bullish sign.An Outside Day pattern was also formed which could be pointing to a reversal.The high of this pattern at 11477 needs to be taken out decisively to confirm this.Only a close above the recent high of 11745 will the uptrend resume
The breakout from the flag - a continuation pattern - on half hourly charts promises more upsides.
Resistance at 11496-11513-11556.
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