Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, March 21, 2012

Reigning The Bank Nifty 21st March 2012

Daily Chart

Today's candle was a pause for the bears and a tiny flicker of hope for the bulls.The close was below the uptrendline and the 5 and 20 dema has given a sell.However yesterday's low was held.Stochastics has reached oversold zone but no signs of turning up.Macd gave another downtick and on verge of falling to negative terrritory.

Half Hourly Chart

The Bank Nifty has made a minor higher low.A higher low at 10150 and higher high at  10369 has been registered. If the low of 10150 is not breached then a good pullback could be seen.Falling channel has resistance at 10342-10168.Crossing it would signal some bullishness and break of 10135 low could mean a test of 9940.

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Happy Trading !!
Lakshmi Ramachandran

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