Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, April 30, 2012

Reigning The Bank Nifty 2nd May 2012

Monthly Chart

Maintained above the 12 month ema.Second consecutive Inside pattern formed forming a triangle.Breakout will give around a 1500 point move.Oscillators showing weakness increasing possibility of breakout on the downside.

Daily Chart

Daily Chart II

Half Hourly Chart

Half Hourly chart shows weakness persists with Bank Nifty reacting from the 50% retracement level and still trading below the rising wedge support line.Needs to breakout from the pennant shown in daily chart II for further bullishness. Oscillators taken support at earlier lows.Double bottom at 10029 will get confirmed on crossing 10646.

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Happy Trading !!
Lakshmi Ramachandran

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