Reigning The Nifty 14th September 2011

 Daily Chart

A double bottom at 4911 on half hourly charts which may help form a leg up to touch the resistance line of the expanding triangle.Resistance from the falling wedge is at 5115.Falling wedges are bullish and a break above 5115 could  see the bulls coming in.

 If the rising wedge still dominates then the fall towards the target of 4623 will continue.

 Daily Chart

Patterns galore ! Now a symmetrical triangle telling us the direction will be decided once it breaks out of the triangle - Up or Down. As of now three legs are complete and the fourth leg up  is due.If resists at the resistance line the expect the 5th leg to break the support line.


follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com