Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, March 24, 2011

Reigning the Bank Nifty 24th March 2011

 Daily Chart

The sideways action gave rise to an upward breakout from the green triangle, though just marginally. Today's candle was hugely bullish especially having come after a doji which clearly indicates the verdict of yesterday's tussle  has gone in favour of the bulls.The 50 dema continues to be above the 200 dema and the 5,10 and 20 dema too are bullishly aligned with each other. Volumes were good and the close was above the 50 and 200 dema.

A bullish  follow up action tomorrow and a cross of the 11300 top would be required to get bullish . The advance decline ratio was just 2:1 .


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Happy Trading !!
Lakshmi Ramachandran

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