Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, July 2, 2009

Reigning The Nifty - 3rd July, 2009

Half Hourly Chart

Daily Charts

Daily Charts

Daily Charts
  • Oscillators still showing mixed signals . Stochastics yet in sell mode before reaching oversold zone which is bearish. Macd is fast moving towards zero line. The RSI14 however, is above the 50 mark .
  • Today too nifty failed to move above uptrendline from 2539 .
  • 5 dema continues to be bearishly aligned .
  • Positive is a higher high and higher low.
  • Resisted at downtrendline drawn from 4693. Resistance for tomorrow on this trendline is at 4359.
View : Neutral

Intra Day Chart

  • All oscillators are positive.
  • Price below uptrendline .
  • The short term moving averages are bullishly aligned.
View : Neutral

The day ended flat amongst an extremely choppy session. The intra day charts are showing signs of recovery. Watchout for breakout from equilateral triangle shown on half hourly charts and also from the uptrending channel from 22nd June. Till this happens , no change in view.

A close below 4284 tomorrow will confirm break of uptrendline on weekly charts.

Happy Trading !!

Lakshmi Ramachandran




Anonymous said...

thanks for your analysis. this site seem to be shorting the NIFTY, citing major divergences between India and other markets. any thoughts.

Lakshmi Ramachandran said...

my latest post should give you the answer.we follow technicals of our charts . why bother what others are doing?