Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, July 12, 2012

Reigning The Bank Nifty 12th July 2012

Daily Chart 

Daily Chart 

Half Hourly Chart 

The Bank Nifty made a pullback as expected thereby forming a shooting star which is a bearish candle pattern.I have explained the shooting star many times before and you may read it here Occuring when the oscillators have turned down from overbought region and price making a rising wedge --shown in red--makes it all the more bearish.

Supports marked on the charts.Holding the uptrendline of the rally around 10400 will keep the bullishness intact.

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Happy Trading !!
Lakshmi Ramachandran

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