Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, July 27, 2009

Reigning The Nifty - 28th July , 2009

Half Hourly Chart

Daily Chart


  • Nifty achieved the target of falling wedge at 4597 and immediately corrected around 70 points.
  • A doji on daily charts exactly at neckline resistance of inverse head and shoulder formation shown in pink.
  • Nifty has managed to cling onto the uptrendline from 3918.
  • Closed above downtrendline joining all time highs and post budget high for second consecutive day.
  • Advance Declines were healthy.
  • Negative divergence on intraday charts intact.

There has been no change in the technicals today . The doji at resistance point is a little ominous and one should be tightening their stops on longs. The Nifty needs to cross the neckline shown in pink on daily charts for further bulllishness.

Supports and Resistance levels are shown on the charts.

Happy Trading !!

Lakshmi Ramachandran