Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, February 3, 2012

Reigning The Bank Nifty 3rd February 2012

 Daily Chart

The Bank Nifty failed to cross the downtrendline once again as it hit resistance exactly on the downtrendline.The previous peak at 10080 was broken intraday but failed to close above it.The formation of a second doji in a row shows extreme indecision.The gap made in the morning was closed showing bears active. The oscillators are overbought making the bank nifty vulnerable to a correction.
Keep tight stop loss of 9640 on longs.

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Happy Trading !!
Lakshmi Ramachandran

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