Weekly Chart
Weekly charts show indecision as the Nifty struggles to break out of the equilateral triangle shown in green.Breakout points are at 5455 and 5255. Support at 5085 and Resistance at 5580 in case of breakout.
Daily Chart
Same boring old chart showing retracements with a few inputs on the latest action. Nifty seems to be moving in an upward slanting channel. The support on this channel is at 5240 and resistance at 6623. 200 dema at 6606.Other supports and resistance marked on charts.
Half Hourly Chart
The rising wedge target of 5136 will be reached if the Nifty is not able to break out of the falling wedge formed on the way down from the rising wedge
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
3 comments:
mam..gm
correction n nifty 200 dema..5623
Dear Laxmi Mam,
Please check out Trading Strategy along with detailed Tecnical Analysis for this Week's Nifty Trading at My Blog-The Third Eye.
http://aar-vee.blogspot.com/2011/02/budget-you.html
Thanks,Regards
gm manu
just checked. The 2oo ema is at 5606 and the 200 sma is at 5643.
aar vee will surely go thru ur post
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