Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, June 2, 2009

Reigning The Nifty - 3rd June , 2009

Nifty Daily Chart

Nifty Half Hourly Chart

I mentioned, "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" We almost reached our target .

Today , we have a Doji once more ! Another consolidation or starting a correction? We have to wait for confirmation. Meanwhile we trade long with trailing stops. The supports marked on the charts should help decide the stops. Resistances should help book profits.

I have started a new discussion on Gold at the forum. Anyone having a view , please participate at .

Happy Trading !!

Lakshmi Ramachandran

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