Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, October 10, 2011

Reigning The Bank Nifty 10th October 2011

 Weekly Chart

The redrawn trendline from March 2009 lows has once again been broken.The support line of the red channel however was held increasing chances of another leg up to the resistance line of the red channel.

Daily Chart

Daily Chart II

The daily charts show a descending broadening wedge which has a fair chance of breaking out on the upside. Positive divergence in the OBV, Rsi14 and Macd supports this view.

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Happy Trading !!
Lakshmi Ramachandran

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