Reigning the Bank Nifty 19th May, 2011

 Daily Chart

Follow up selling was there but  somewhat subdued.  The neckline of the head and shoulder pattern, shown in green,  proved  resistance  today and the close was below it. Target of the pennant is 9587 and the head and shoulder target is 9375.

The trend is down  and till the lower high lower low candles turn into higher high higher low candles selling will continue.

On vaccation from tomorrow . Will be back on 27th !



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com