Reigning The Bank Nifty 29th November 2012

Daily Chart

Half Hourly Chart

With the breakout on good volumes  from the 11528 resistance shown yesterday, direction for the Bank Nifty is getting clearer.The red triangle needs to be resolved before one can say the direction is Up once again.The bullish candle on high volumes is encouraging an upward breakout.

Gap made today at 11432-11502 will act as support.Till this support holds the Bank Nifty will break on the upside.A breakout will give a move of around 600 points.In case retreats, break of 11392 will be first sign of weakness.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com