Daily Chart
Half Hourly Chart
Bank Nifty took a breather after the impressive run up forming an Inside
Day pattern.It is a two day pattern where the day's candle is formed
within the earlier day's range.Inside day patterns indicate indecision
and sometimes lead to a reversal. If the high of the pattern is taken
out the trend continues and if the low of the pattern is taken out then
weakness could follow.The high and low in Bank Nifty's case is 12175 and
12001.
Half hourly charts show a flag formation which is a continuation pattern indicating the uptrend should continue. Lookout for the flag to breakout and the Inside day pattern to resolve to get further direction.Pullback supports are marked on half hourly charts.
The broad trend is up and pullbacks should be used to buy.
Half hourly charts show a flag formation which is a continuation pattern indicating the uptrend should continue. Lookout for the flag to breakout and the Inside day pattern to resolve to get further direction.Pullback supports are marked on half hourly charts.
The broad trend is up and pullbacks should be used to buy.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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