Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, January 13, 2011

Reigning the Bank Nifty - 13th January 2011

 Daily Chart

Yesterday I wrote "  Searching for support around the 50% retracement levels of rise from February 2010 lows. Positive divergence is seen in Macd and OBV. The Rsi 14 and Stocahstics are in the oversold area. All this points to a short term bottom being formed ".

Well, the short term bottom seems to have been formed with a bullish follow up candle on good volumes.

Resistances and Supports are marked on the chart.

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Happy Trading !!
Lakshmi Ramachandran

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