Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, February 15, 2009

analysis for 16th feb,2009

30 minute chart

daily chart

the 50 dema has crossed the 84 dsma after 9 months the last such cross being on 23rd may 2008. both averages will offer strong support on declines at 2900-2910. the daily macd has moved above zero line and is in buy mode. the head and shoulder pattern is intact as the neckline has not been broken though tested daily since breakout. however the 30 minute chart shows negative divergence on the oscillators , cautioning longs to take part profits on any rise or keep a trailing stop loss of 2887 being low of last two days.

1 comment:

ramu said...

i agree with the comments. there will ba rally next week provided market positively views the interim budget