Wednesday, June 3, 2009
Reigning The Nifty - 4th June , 2009
Nifty again formed a Doji and also an Inside Day. Highly indecisive patterns. We have to wait to see which way it breaks out, above 4586 or below 4451.The half hourly charts shows the Nifty moving in an equilateral triangle. This pattern too does not help us make a probable prediction of the direction of breakout.
If the Nifty manages to stay above 4530 we can see upsides of 4586 and 4650.
Supports below 4451 are at 4390 on the channel's mid line.
Happy Trading !!