Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Thursday, November 12, 2009

Reigning The Nifty - 12th November, 2009

Huge bullish candle on ok volumes.  The support of 4830 has held well. In fact the Nifty did a U turn from 4860 and went up without any mentionable corrections.The target now is 5145 of the inverse head and shoulders which I have been mentioning since a few days.The move from 4538 is within an upward sloping channel. .All half hourly oscillators are in the oversold zone. So look for resistance from this channel is at 5036-5080

Half Hourly Chart

Daily Line Chart

The rising wedge target of  3850  is valid till the top of 5150 is taken out on a closing basis.


Happy Trading !!

Lakshmi Ramachandran


Sujatha said...

So, weekly closed below 5036/80 is a shorting zone with SL of 5150?

And thanks for the good chart that 3850 is still valid..


Lakshmi Ramachandran said...

Yes you could.