Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, November 21, 2011

Reigning The Bank Nifty 22nd November 2011

 Daily Chart

Fast approaching the support line of the expanding triangle at 8292 which coincides with the 50% fibo level of rise from March 2009 lows at 8318. 50% levels are deciders of the trader sentiment.If holds then the fall is considered a correction and  but if fails then it is some serious selling and traders have lost faith in the Bank Nifty holding up in the near future.

Look for reversal signals around the 50% fibo levels. If fails to show up the Bank Nifty is  heading lower.

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Happy Trading !!
Lakshmi Ramachandran

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