Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, June 10, 2011

Reigning The Bank Nifty - 10th June, 2011

Daily Chart

Daily Chart II

Sideways, boring, lacklustre, still within the range 10946-10682 on extremely low volumes. The 50 and 200 dema are now almost at the same level at 10968-10975.  Unless the resistance area of these two moving averages   is crossed decisively chances of the downtrend resuming is high.

Chart II shows a pennant forming  which is a continuation pattern and should break out on the upside. Resistance at 10878 and Support at 10752.

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Happy Trading !!
Lakshmi Ramachandran

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