Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, September 12, 2012

Reigning The Bank Nifty 12th September 2012

Daily Chart 

 Half Hourly Chart 

 A gap down candle making a lower low and lower high  for the day which resisted at the downtrendline joining10156 with 10182 shown in blue on daily chart and the 20 day ema.Gap support at 9893-10036 held well . Till the short term top at 10182 made on Monday is not taken out bullishness will not return.

The half hourly chart shows a break above the same downtrendline.Break above neckline of  an inverted head and shoulder pattern too was made.Since a spike was made at at 10182 was made it would be wise to go long after a close above this level.Target will be 10452.

Resistance and support levels marked on the chart.

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Happy Trading !!
Lakshmi Ramachandran

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