Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, July 6, 2011

Reigning The Bank Nifty 7th July 2011

 Daily Chart

 The bearishness of the outside day pattern mentioned in yesterday's post , you may read it here --, put the bears in a winning position leading to a bearish candle closing below the crucial downtrendline from 13304 and below yesterday's close.

The lower high lower low candle has turned the bias negative. Stochastics and Rsi 14 have turned down from overbought region supporting the bearishness.

Supports at 11176-11015-10887.Resistance at 11350-11431-11491.


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Happy Trading !!
Lakshmi Ramachandran

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