May 27, 2011

BANK NIFTY Triangle and Wedge

  • Bank Nifty Weekly chart is pausing near the important level of 10430 - 10450. Price closing the week near this level can give an up move in the coming week towards the upper trend line shown in the chart. Price closing near the support level means it forms a descending triangle pattern which is bearish in the medium term. Lets see how the week closes.
  • Day is forming a falling wedge pattern. For the pattern to look good it should resist one more time on the upper trend line and fall towards the lower trend line and then give an upper breakout.
  • EURUSD CHART ANALYSIS

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