Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, April 6, 2011

Reigning the Bank Nifty 6th April 2011

Daily Chart

Today's candle was a hanging man .The candle inspite of having a bullish lower shadow shows bears were active and were successful in pushing prices down. The Bank Nifty in failing to cross the recent  high of 11898, and move above the 61.8% fibo level of the entire fall from all time highs of 13304, is underperforming the Nifty. A correction therefore may be more severe than in the Nifty.

Stops in place !!!!!


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Happy Trading !!
Lakshmi Ramachandran

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