Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, June 9, 2011

Reigning The Nifty - 9th June, 2011

Daily Chart

Daily Chart II

The right shoulder still seems to be forming locked in a range between 5480-5605. The 5560-5605 area which houses the 50 dema at 5569 and the 200 dema at 5600 will prove strong resistance.Only a cross above this area will give momentum on the upside.

Half Hourly Chart

The half hourly charts show a diamond formation which I mentioned in my Midday Nifty post. You may read it here . The Nifty broke down from the pattern giving a target of 5415.

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Happy Trading !!
Lakshmi Ramachandran

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