September 17, 2010

Bank Nifty analysis

  • Bank nifty continues to close above 5 day high ema.
  • But Candlestick pattern seems to suggest some weakness. We have a shooting star in the daily chart. The long tail suggest selling at the top of the trend. But as all candlestick patterns this one too need confirmation.
  • Trading below 5 day high ema can give a chance for the bears.

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