Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, January 31, 2012

Reigning The Bank Nifty 31st January 2012

Daily Chart

The Outside day reversal pattern did it's job and the Bank Nifty made a bearish candle with a gap down open which was left uncovered.This is bearish and till the gap remains the trend would be down.The breakout above the 200 dema was false and the 5 dema has once again crossed bearishly with the 200 dema.A potential double top may have been formed .
Till the top of 10080 is not taken out the Bank Nifty will trend down.

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Happy Trading !!
Lakshmi Ramachandran

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