Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Monday, October 24, 2011

Reigning The Bank Nifty 24th October 2011

 Weekly Chart

 Daily Chart

The sideways move has been intact since September. The positive divergence shown last week may have played out with  the weekly candle  forming a doji signaling lack of commitment by the bulls. The 50 dema has been violated once again.The rising wedge shown on daily charts has been broken down and a retest of the lows would be in order.A lower high at 9865 keeps the bearishness intact.

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: