Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, January 7, 2011

Reigning The Bank Nifty 7th January 2011

 Daily Chart

Fall continues retracing around 80% of the rise from 10977. Support on trendline from August reaction lows is at 11073. Only the 5 dema is bearishly aligned with the 10,20 & 50 demas.This gives a sign of  bullishness lurking .The resistance from these demas is at 11425-11490-11575-11780.The 200 dema has support at 10927.

Supports are at  11073-10977-10740  and Resistance is at  11341-11448-11545-11624.

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Happy Trading !!
Lakshmi Ramachandran

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