Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Tuesday, April 17, 2012

Reigning The Bank Nifty 17th April 2012

 Daily Chart

 Daily Chart II

Up candle for the day which formed an Inside day pattern.Appearing at this juncture I would look for a break above the high or low of the pattern which is 10588 and 10236.Chart II shows a potential inverse head and shoulder pattern. the green trendline represents the neckline when drawn on a line chart and has been broken bullishly. The red neckline on candle charts is yet to be broken and coincides with the resistance line of the flag.
 Oscillators starting to show strength.Macd given an uptick and moved above zero line.All demas bullishly aligned.Advantage bulls at the moment with the half hourly charts showing an upward trending channel.Only a break below 9845 will get the bears active.

 Half Hourly Chart

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: