Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, June 14, 2012

Reigning The Bank Nifty 14th June 2012

Daily Chart

Daily Chart 

Doji  formed after the bullish breakout yesterday.The bullish candles made in this rally shows buying interest after small periods of consolidation.If the doji marks another day of consolidation and the breakout from the channel is maintained the Bank Nifty will reach the target of 11177. 
The Bank Nifty unlike the Nifty is already trading above the 200 dema and the 5/200 dema too is in a buy making the trend mildly bullish.

Half Hourly Chart

The breakout from the support line of the rising wedge signifies a reaction to the upmove before the rally resumes.Daily stochstics turning down from overbought zone supports this view.

Strong support at 9800

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Happy Trading !!
Lakshmi Ramachandran

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