Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, May 3, 2011

Reigning the Bank Nifty 3rd May,2011

 Daily Chart

In the classic way, the megaphone broke down after the third peak at 11978 was made. As mentioned in my post of 29th, 11200 was achieved. With that the green trendline from which the breakout occured also got violated.Close was below the 50 dema. Support taken at 38.2% fibo level.The fall should find good support at the 50% fibo level at 11000 where the 200 dema too offers support at 11025.

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Happy Trading !!
Lakshmi Ramachandran

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