Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, May 10, 2012

Reigning The Bank Nifty 10th May 2012

 Daily Chart

Half Hourly Chart

The pink downtrendline drawn from November highs and the 50 % retracement of the rally from December lows has been violated and the Bank Nifty closed below it too.The red dotted support line of the flag still holds and has support at 9350 for tomorrow.This will be the last support for bulls who will get a good bear hug if it breaks.
Resistance now at 9572 which coincides with the 38.2% fibo levels as shown on half hourly chart.

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Happy Trading !!
Lakshmi Ramachandran

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