Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, May 25, 2009

Reigning The Nifty - 26th May , 2009

Nifty Daily Chart

Nifty Half Hourly Chart

I am in the midst of a power cut due to the cyclone in kolkata so will give a brief write only.
Today's trading was sideways within a seventy point range ending the day in a doji . The supports held well, the consolidation pattern got an upward break and a retest of the trendline from which it broke out . The correction of the last rise from 3534 has corrected almost 38.2% and shows signs of resumption of the uptrend by making a higher high and higher low today after 3 days of lower high and lower lows.
Among the daily oscillators only the stochastic is moving down . RSI is still in the overbought territory but has not moved down. Macd is moving higher . The intra day oscillators have started moving up and are showing strength .
Weakness will be seen only after break of the midline of the channel which has supports at 4186-4212 for tomorow.

Happy Trading !!

Lakshmi Ramachandran


madhusudan said...

If I want to take position in next month options, which are the best strikes of nifty call and put and at which level of nifty?
Would you please guide?

Lakshmi Ramachandran said...

I am really sorry but I will not be able to answer such specific queries.Options are not as easy as they seem. please do a thoroug study of option strategies and then step into it

madhusudan said...

thank u, madam, for replying.
I wish to enrich myself with knowledge of option strategies through your posts.
It is my humble request, please see to it so that low capital people get some mullah from the market.
Thanks again.