Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, March 17, 2011

Reigning the Bank Nifty - 17th March 2011

 Daily Chart

Resisted at the green triangle. Once again above the 200 dema. The 50 dema continues to be bullishly aligned with the 200 dema. The 5,10 and 20 dema too are bullishly aligned with each other. However , the fall from 11300 to 10169 which took just six sessions is yet to be retraced after 13 sessions! This shows lack of buying strength.  The triangle breakout is losing it's relevance .

I would look for a close above 11300  for further upmove.

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Happy Trading !!
Lakshmi Ramachandran

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