Reigning The Nifty 6th November 2012

Half Hourly Chart

The breakout was maintained but 5725 level still proves a difficult level to cross.A  doji was formed once again continuing the indecision.

 A potential Inverse head and shoulder is seen forming with the neckline at 5710.A close above this level will take the Nifty to 5845 levels.Till the gap support at 5645-5679 is held expect the target of 5845 to be achieved.

 Support at 5679 and gap support at 5679-5545 if broken then the low made at 5583 can be retested. Lower highs at 5711 after 5725 will be confirmed if 5583 were to breakdown.

.

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

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com