Reigning The Bank Nifty 7th November 2012

Half Hourly Chart

Daily candle was a bullish engulfing candle after two doji days indicating bulls in action and dominance.The sharp rising channel shown on half hourly charts was maintained  keeping  the uptrend intact.The support at gap area was well maintained. Breakout from the red flag will find resistance at 11657-11745.Close above 11745  will signal more upsides.

Watch for the support of the gap area and the uptrending channel.If holds more upsides if breaks downsides or sideways move.Till the low made at 11125 is held the uptrend is safe.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com