June 14, 2011

NIFTY-BANK NIFTY-CNX-IT Consolidation patterns

BANK NIFTY
NIFTY
CNX - IT
  • All three major indices are showing consolidation triangle patterns.
  • If the support lines are held we may see them moving up towards the resistance line.
  • Nifty is showing a Bullish ascending triangle this one was redrawn because of yesterday's Dip below 5450. If an up move happens and stays above 5500 price may move towards 5600 in the coming days.

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