Daily Chart
Daily Chart
Half Hourly Chart
The
rising wedge break down continues to take the Bank Nifty down.The minor
lower low at 11571 needs to be crossed to show some recovery. The fall
is more sideways showing bulls not giving up easily.As told in the
weekly newsletter till the range if 11745-11125 is cleared direction
will be difficult to ascertain though the bias is down.The half hourly
chart below will give an idea of how difficult trade can be in a range.
Half Hourly Chart
Triangle on daily charts need to be followed closely to see which way the breakout occurs to get a sense of direction.Resistance is at 11528 and support at 11324.Breakout from these levels will tell us more.50 day ema at 11259 and low made on 19th November at 11256 are strong supports.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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