Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, September 5, 2011

Reigning The Bank Nifty 5th September 2011

Weekly Chart

After 5 days of lower lows covering a good 2500 points the Bank Nifty made a higher high and higher low. Recovery efforts helped the Bank Nifty climb above the support line which now has support at 9190. Oscillators are showing signs of moving up.

Daily Chart

The symmetrical triangle target was achieved. Have shown this chart more for educational purpose rather than predicting the Bank Nifty. One could have made a minimum 1000 points following the pattern.

Reacted exactly at the 23.6% fibo level of the fall from 11978.The pullback could find support at 9490-9408-9325-9222.  Resistance comes at 9658-9707-9956-10105

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Happy Trading !!
Lakshmi Ramachandran

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