Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, October 31, 2011

Reigning The Bank Nifty 31st October 2011

 Weekly Chart

Daily Chart

Bullish hammer or hanging man?  The gap up was bullish but the fact that the earlier high of 9972 could not be crossed makes the bullishness suspect.The Bank Nifty has been under performing the Nifty which is also a pointer to the fact that the bank sector may continue to underperform.

Wait  for the high of 9972 and the 200 dema at 10380 to be crossed . Till then one can be cautiously optimistic.

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Happy Trading !!
Lakshmi Ramachandran

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