Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, January 6, 2010

Reigning The Nifty - 7th January, 2009



Daily Chart


 


Daily Line Chart





Half Hourly Chart






  • The nifty formed a doji once again and failed to confirm the bearishness of yesterday's doji star by trading higher than yesterday's high and low and closing  above yesterday's close. 
  • The uptrending channel within which nifty is trading is intact .
  • The last two day's move has been sideways with upward and downward momentary spikes shown by the green trndlines on half hourly charts.
  • Negative divergences on half hourly charts is intact.
  • The daily oscillators are also in negative divergence but have started showing strength and are moving up.
  • Further upside after crossing 5332  and fall after breaking 5274 as shown on daily  chart.
 Strategy of hedged longs continue.


Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

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