Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, January 23, 2012

Reinging The Bank Nifty 23rd January 2012

 Weekly Chart

 Daily Chart

Three bullish candles in a row, on weekly charts, on increasing volumes.Broke above the minor top of 9273 and the intermediate downtrendline from July 2011 highs.On daily charts, made a hammer at the red trendline at 8922 and made an upmove with two gapup moves.Friday's candle was on above average volumes.The minor peak of 9273 crossed decisively. Oscillators too showing strength.

Short term bullish but will face resistance at at the 200 dema at 9659 and peak of 10080.Partial profit booking on longs would be prudent.

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Happy Trading !!
Lakshmi Ramachandran

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