Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, June 1, 2009

Reigning The Nifty - 2nd June, 2009

Nifty half Hourly Chart showing Target

Nifty Half Hourly Line Chart

Nifty half Hourly Supports Chart

There seems to be no stopping the Nifty. Target of 4537 was achieved and a new range target of 4924 has opened up. This coincides with the target of breakout from channel of January 2008 till October 2008 shown on the half hourly candle charts, of which I have been mentioning since end of March,2009.

In the short term we may have a sideways to down correction of last move from 4092 as the channel in which the nifty was moving has been broken and the move since then has been sideways.There are also negative divergences on intra day oscillators. This move could drift down to 4420.

Daily charts have channel support at 4350 and channel resistance at 4735.

Guidelines for trading remain the same as mentioned in my post on 31st May. You can read it here

Other Supports and resistance levels are marked on the charts.

Happy Trading !!

Lakshmi Ramachandran

1 comment:

Sujatha said...


oops... i saw in SGX today...