Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, December 2, 2012

Reigning The Bank Nifty 30th November 2012

Daily Chart
Daily Chart
Half Hourly Chart
Bank Nifty broke out of the red triangle, 11745 peak and the April 2011 peak on very good volumes.The fall from 11745 to 11125 took 30 days whereas the recovery from 11125 was in just 7 days ! This is a really bullish signal.Bank Nifty is on a run upwards and till  a sign of weakness is seen the trend remains up.

The earlier channel break target was at 12700 and the red triangle target is at 12300.Longs should have a stop loss of 11392/11125 as per risk profile.
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Happy Trading !!
Lakshmi Ramachandran

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