Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, June 13, 2011

Reigning The Bank Nifty - 13th June, 2011

Daily Chart

Daily Chart II

Friday's candle resisted exactly at 10815 as shown in the chart of my post, . The trendline has been proving resistance since the last four trading sessions.The resistance from this trendline is now at 10783. Chart II shows the suspected pennant formation broke on the downside proving weakness . The 50 and 200 dema on the verge of  doing a death cross once again. The short term emas, 5,10,20 are all under the 50 and 200 ema.

The green neckline has been broken once again showing more weakness to come.Support available at 10388 on the mauve coloured neckline and 10340 the previous low.

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Happy Trading !!
Lakshmi Ramachandran

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