Reigning The Nifty - 31st March, 2010

Daily Chart

  

Daily Chart II

Sensex

Half Hourly Chart

• Inside day which is indecision, but the bearish candle almost engulfing of yesterday's real body shows a bearish bias.
• Daily oscillators are moving down from overbought area after showing negative divergence and half hourly oscillators are showing weakness. 
• Strong support at 5187  to 5175 .

Today was the first day which witnessed selling and ended at the low. I had called for caution since last few days on weakening internals of the market .The Nifty is still to make a lower low , so the bias is still up and shorting the market could still be risky.However the Sensex has made a lower high and lower low. Remaining neutral till there is more more clarity of direction, would be wise.

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com