Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Saturday, September 29, 2012

Reigning The Bank Nifty 28th September 2012

Daily Chart

Consolidation continued within the flag.Levels to watch are  11480-11321. OBV has made a minor high and low indicating Bank Nifty may be in for a short term downtrend. Oscillators are in overbought one but not showing any weakness.

The half hourly chart is showing consolidation in a flag formation which should ideally break out from the resistance line and continue the uptrend.The 63 ema is intact and coincides with the low made at 11321.Break of this support may bring in some more weakness.

Half Hourly Chart

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Happy Trading !!
Lakshmi Ramachandran

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