Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, January 31, 2011

Reigning the Bank Nifty - 31st January 2011

Weekly Chart

Weekly Chart II

A bearish candle for the week but made a higher high and higher low indicating some value buying at lower levels.Chart II shows a rising wedge with support at 10470. Staying above this level can see attempts to reach the resistance line of the wedge.11250 would be strong resistance.

Daily Chart

Since the bottom made at 10374, a sideways movement is seen within a channel with 11280 as resistance and 10490 as support. The larger downtrending channel since the top at 13304 has support and resistance at 9938 and 11231.

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Happy Trading !!
Lakshmi Ramachandran

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