Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, June 29, 2009

Reigning The Nifty - 30th June, 2009

Half hourly Chart

Daily Chart

Daily Charts
  • Doji candle formation depicting indecision.
  • 5 dema continues to be bearishly aligned to 10 & 20 dema.
  • Oscillators in neutral zone.
  • Uptrendline intact.
Intra Day Charts
  • Oscillators were oversold and the nifty seems to be correcting this state.
  • Solid support at 4333-4343-4347 area from the 50-100-200 period ema's. However the three ema's are bearishly aligned.
  • The shorter term moving averages are once again bullishly aligned.
  • Uptrendline intact.
My View

A Doji has been formed on daily charts .The doji has closed towards the lower range and the upper shadow is longer than the lower shadow. This shows selling pressure. Volumes were more than that on Friday. Advance Decline figures improved over Friday's figure.

The uptrend started on Friday has not shown strength enough for us to consider an upgrade in our view from being moderately bullish.

Happy Trading !!

Lakshmi Ramachandran

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