Reigning The Nifty 22nd August 2012

Daily Chart 

 

 Half Hourly Chart 

 I said  till the breakout from the symmetrical triangle is held well one needs to keep the bias bullish. Negative divergences notwithstanding, the Nifty made a good move above the congestion zone of 5342-5379 and closed above it after making a continuation diamond pattern.The target is 5455.The downtrending channel target was 5440.

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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com