Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, July 21, 2009

Reigning The Nifty - 22nd July, 2009

Daily Chart

Half Hourly Chart

Daily Chart

It was a day of consolidation after the sharp run up , with a higher high and a higher low on Daily Charts. Overhead resistances are many, so good momentum and volumes are necessary to overcome them. The Daily Oscillators are strong and that of half hourly charts are in neutral zone. We can expect consolidation for some more time till the intraday oscillators are oversold.

I have drawn a new downtrending channel shown in red, which I would be following , rejecting the channel earlier drawn, shown in blue on the second Daily Chart. This is beacause the new one is more well channelled.

All relevant levels shown on charts.

Happy Trading !!

Lakshmi Ramachandran




Girish Desai said...

Mr. Lakshmi,

I really like your analysis and it has definitely helped me trade better. Please keep posting the same everyday.


PS: Can I know what software do you use to get nifty charts?

Lakshmi Ramachandran said...

I use metastock