Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, April 11, 2012

Reigning The Bank Nifty 11th April 2012

Daily Chart

The lower high lower low candle continues.Close however was above the 50 dema and the candle formed has a long lower shadow indicating stalling of the selling.This could be temperory unless it breaks out above the green downtrendline at 10387 to begin with.The positive divergence on OBV is intact indicating buying strength.

 Daily Chart II

Half Hourly Chart

Breakout from the short term down trendline  and the possibility that a right shoulder is forming keeps bullish views alive.

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Happy Trading !!
Lakshmi Ramachandran

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