Reigning The Nifty 9th November 2012

Half  Hourly Chart

A lower high lower low candle was made for the day. Nifty made a gap down opening breaking below the neckline around 5725. The close however was above it.Till the gap area of 5744-5760 is closed and the recent high of 5777 is taken out expect a side to downward movement.

Till the low made at 5583 is unviolated the uptrend is intact.

 Immediate support 5760-5744-5693.Gap support at 5679 coincides with the 50% fibonacci levels and should prove good support in case the fall continues. Resistance at 5760-5777-5815

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com