Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, July 7, 2009

Reigning The Nifty - 8th July,2009

Half Hourly Chart

Daily Chart

Choppy trading , directionless, could not scale even 23.6% retracement of yesterday's fall, but held neckline support. Advance decline was marginally skewed toward declines. Volumes were just average. Daily Oscillators still in neutral zone. Half hourly oscillators are moving up from oversold region, so the action today was nothing more than correcting this oversold condition. In short a nothing day.

Today's movement was in an equilateral triangle, and the coiling might end tomorrow giving us direction. The break should be in the downward direction but trading above 4223-4230 will give an upside breakout.

Happy Trading !!

Lakshmi Ramachandran

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