Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Saturday, October 13, 2012

Reigning The Bank Nifty 12th October 2012

Daily Chart 

Half Hourly Chart

Bank Nifty broke above the red neckline of the bearish head and shoulder pattern shown on half hourly charts.This is a bullish sign.An Outside Day pattern was also formed which could be pointing to a reversal.The high of this pattern at 11477 needs to be taken out decisively to confirm this.Only a close above the recent high of 11745 will the uptrend resume

The breakout from the flag - a continuation pattern - on half hourly charts promises more upsides.

Resistance at 11496-11513-11556.

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Happy Trading !!
Lakshmi Ramachandran

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