Reigning The Nifty - 9th February, 2010

Daily Chart

 

Half Hourly Chart

• Pullback underway after positive divergences in oscillators on half hourly charts and minor positive divergence on daily charts. 
• Fibo resistances marked on  charts.
• Longs are safe till 4675 remains unviolated.
• Supports at 4675-4538-4495.

Careful on longs as broad trend down. The first sign of a recovery would be a breakout from the downward sloping channel. Till then Selling on rallies is the strategy .

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com