Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, July 19, 2012

Reigning The Bank Nifty 19th July 2012

Daily Chart 

Maintained above the downtrendline joining November 2010 highs with 11226.Taken support on support line of the pennant formed.The continuation pattern will be confirmed on a breakout from it's resistance line at 10618.
The daily candle pattern formed is a bullish harami. The bullish harami occurs in a downtrend and comprises of a  black  candlestick  engulfing a small  white candlestick, and is a sign of a reversal of the downward trend.Watch out for a break above the pennant to confirm the reversal of the very short term downmove.

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Happy Trading !!
Lakshmi Ramachandran

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