Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, April 10, 2012

Reigning The Bank Nifty 10th April 2010

Daily Chart

The island reversal was confirmed with another gap down bearish candle.The 5&20 dema is in a sell again.200 dema at 9930, previous low at 9845 and the green trendline joining the two swing lows of this ongoing correction at 9816 will be crucial supports to watch.
The 61.8% fibo support as shown below is at 10096. If holds , the right shoulder of the inverse head and shoulder could be forming.
Buy on dips to be stalled till some bullish recovery signs seen.

Half Hourly Chart

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Happy Trading !!
Lakshmi Ramachandran

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