Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, July 27, 2011

Reigning The Bank Nifty 27th July 2011

Daily Chart I

 Daily Chart

Today's candle was extremely bearish engulfing almost 3day's candles.The pennant formation has resistance at 11430 and support at 11068. Break on the upside will target 11678-12045 and break on the downside will target 10430.

Chart II shows the Bank Nifty in a sideways movement since January 2011.The stalemate needs to be resolved to get some direction.Does the slight tilt to the upside convey an upward bias? 

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Happy Trading !!
Lakshmi Ramachandran

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