Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, July 18, 2011

Reigning The Bank Nifty 18th July 2011

 Daily Chart

 Daily Chart II

The attempt to cross the downtrendline from 13304 failed yet again.Bank Nifty closed below the 61.8% level of fall from 11451-10941.Having traded within the previous day's range an Inside Day pattern was made which shows indecision.The candle too formed a doji showing indecision.Since a very short term uptrend was on a pullback to this rise may occur.

Chart II shows movement with a small triangle which may lead to testing support at 11090 to complete the third leg.

Supports and Resistance marked on the charts.

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Happy Trading !!
Lakshmi Ramachandran

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