Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, May 8, 2012

Reigning The Bank Nifty 8th May 2012

Daily Chart

Half Hourly Chart 

Support taken at the 50 % retracement of the rally from 7766 to 11226.The rising wedge target too met. The gap down made on open was closed giving a bullish indication.Strong resistances at the 50% --9940 and 61.8% -- 10038  retracement levels shown on half hourly chart.The red neckline of the bearish head and shoulder pattern too at the 10038 levels which should prove good resistance.
The pennant pattern still valid.

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Happy Trading !!
Lakshmi Ramachandran

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