Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, October 15, 2012

Reigning The Bank Nifty 15th October 2012

 Weekly Chart

Daily Chart  

 Half Hourly Chart 

The breakout above the 11451 peak proved false with the Bank Nifty dipping and closing below it making a lower high lower low candle..The move towards the rising wedge target of 10700 is intact.A lower high at 11527 is in place and if the low of 11245 is broken a lower low would be made giving a Dow sell signal.
If broken supports come at the gap of  10797-10643

On the other hand a bullish flag is formed with breakout at 11490.This is a continuation pattern and the Bank Nifty should resume the upmove if broken on the upside. Only a breakout above the high made at 11745 will confirm resumption of uptrend.

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Happy Trading !!
Lakshmi Ramachandran

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