Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, March 22, 2012

Reigning The Bank Nifty 22nd March 2012

Daily Chart
 Bullish candle closing above 20 dema.The 5 and 20 dema are in a buy again.Stochastics given buy in oversold zone and Rsi14 moved above 50 line. Macd has given an uptick and is in positive territory.Breakout from the flag is awaited by the bulls to turn the scene bullish.
Half Hourly Chart
 Breakout from the down trending channel.Resisted at 50 % retracement level of fall from 10912-10135.The medium term trend is up while the short term trend has turned sideways.Buy on dips till 10135 is broken decisively.
Resistance for tomorrow at 10630-10577 and support at 10456-10401-10350-10300.


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Happy Trading !!
Lakshmi Ramachandran

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