Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, July 23, 2012

Reigning The Bank Nifty 23rd July 2012

Weekly Chart 

Daily Chart

Half Hourly Chart 

Bulls failed to carry the march above the downtrendline from November 2010 highs shown on weekly charts.A lower high lower low weekly candle  changes the bias to negative.The rising wedge shown on daily charts was broken decisively giving a target of around 9100.Oscillators are showing weakness. Only the moving averages are still bullish.

Bulls need to give a break above the bullish flag, with resistance at 10688, to see a resumption of the uptrend. Failure to do this would see the rising wedge target being targeted by the bears.

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Happy Trading !!
Lakshmi Ramachandran

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