Daily Chart
Half Hourly Chart
Nifty rallied as anticipated , opening with a gap which was left unfilled.This is bullish. Break out from the falling wedge shown on half hourly chart gives a target of 5965. Bearish signals are being ignored.See the half hourly chart below.The shooting star appeared around the 23.6% resistance level but after faltering a bit continued to run up.This indicates the rally may continue.
Half Hourly Chart at 13-30 pm
Resistance at 5556-5562 - 5681 - 5801. Support at 5416-5396-5355-5319-5285.
This is a counter trend rally on low volumes. Trade light and hedged.
This is a counter trend rally on low volumes. Trade light and hedged.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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