Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, March 4, 2010

Reigning The Nifty - 4th March, 2010


 
Daily Chart



Half Hourly Chart

 

  • Third bullish candle and closing above 61.8% retracement level of fall from 5310 to 4675 opening up the possibility of testing 5310 .
  • Volumes on the rise since the budget day have been on falling volumes.
  • Channel breakout target of 5065 achieved effortlessly.
  • Roc , Rsi and stochasticson half hourly charts continue in negative divergence.
Bullishness continues except for the minor irritant created by negative divergence on half hourly charts  and falling volumes. Target of inverse head and shoulders to be kept in mind for booking profits. Stop loss can be raised to 5000.


Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

5 comments:

Sujatha said...

How is your nephew?

QUOTE : Third bullish candle and closing above 61.8% retracement level of fall from 5310 to 4675 opening up the possibility of testing 5310.

If nifty closed below 5065? the above is invalid?

Thanks and regards

Lakshmi Ramachandran said...

nephew still in nursing home.
yes below 5065 we have to rethink

kris said...

Madam Namesthey,

Hope everyone at ur side is fine. this side mahalingam. today again the mkt closed above the 61.8%. will it take to 78% retracement. Hours stochastic is above 95. your views plz.
namesthey

Lakshmi Ramachandran said...

kris will put up my post soon

kris said...

madam thank u.
take care
namesthey.