Daily Chart II
In yesterday's post -- http://vipreetinvestments.blogspot.com/2011/07/reigning-bank-nifty-11th-july-2011.html -- I mentioned bearishness which was in full swing today breaking the support line of the small expanding triangle.Break of 11056, the breakout point of the double bottom, will bring in the bear pack.
Chart II shows the red up trendline from March 2009 lows as stiff resistance. Right shoulder of the head and shoulder pattern could have started forming yet again.
Supports at 11056-11025-10954. Resistance at 11167-11275-11326.
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