Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, January 13, 2010

Reigning The Nifty - 14th January, 2009



 Half Hourly Chart




 Daily Chart



 Daily Line Chart



  • The 38.2% retracement level of rise from 4945 levels at 5170 held well 
  • The Nifty on recovery today resisted exactly at 5239 which is the 50% retracement level of the fall from 5310 to 5169.
  • Trading above the 5256 level, which is the 61.8% fibo level of the fall, is necessary for further upsides.
  • Half hourly oscillators are moving up from oversold levels.
  • Daily oscillators show signs of moving up without reaching oversold levels which is a sign of strength.
  • Daily emas still bulishly aligned.
Strategy of holding hedged longs to continue.


Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

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