Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, March 2, 2012

Reigning The Bank Nifty 2nd March 2012

Daily Chart
The rising wedge support line was broken intraday but Bank Nifty managed to close above it.I have redrawn the line to encompass today's low.The close was once again below the 20 dema (blue).All demas are still bullishly aligned.Macd has given another downtick and Rsi14 has turned down.Stochastics however is moving up in a buy mode.
Daily Chart II
A flag  which is a bullish consolidation pattern seems to be forming, which should have an upward breakout ultimately, but chances of testing 9758 before that are high .

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Happy Trading !!
Lakshmi Ramachandran

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