Reigning The Bank Nifty 18th May 2011

 Daily Chart

Daily Chart II

I said " However, today's Inside day shows the bulls have already exhausted themselves and the upside momentum has waned ". 
Waned it had and the Bank Nifty broke the earlier low of 10677 to close at 10669 making a huge bearish candle for the day.Having broken out of the pennant which I have been pointing out in my earlier posts, the fall should target 9587.
The neckline of the bearish head and shoulder has not been crossed decisively .Once that happens the momentum of the fall  should increase.




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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com