Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, December 29, 2009

Reigning The Nifty - 30th December, 2009

Daily Chart

Shooting star like candle formed which is bearish. Volumes were low.  However managed to stay above breakout point of 5182.

Daily Line Chart

The rise may stall at the upper trendline of the rising wedge which is around 5400.With resistances at 5299-5330 as shown below.Double bottom target at 5354

Daily Chart

Half Hourly Chart


The negative divergences shown earlier still persist..The effect though looks like a sideways movement.

The startegy of staying long till the lower trendline of the rising wedge continues. However hedged longs will be sensible though it may diminish profits a little  as the rise is  hesitant.

Happy Trading !!

Lakshmi Ramachandran

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