Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Tuesday, December 8, 2009

Reigning The Nifty - 9th December, 2009

Today was a huge bull candle which took the Nifty back above the pink trendline. The hurdle of 5182 still looms.

 Daily Chart

The line charts however, show a clear higher bottom  higher top formation having closed above the earlier top of 5142. Support taken exactly on the blue dashed uptrendline. Till this uptrendline is violated,  Nifty will be making upmoves. I have not removed the target of 3850 from the charts as it would be wise to wait till the candle charts too show a breakout above 5182.

Daily Line Chart

Half hourly chart shows bullish breakout from consolidation  and  EMA's once again bullishly aligned

Half Hourly Chart

Trade long with a stop loss at 5050.

Happy Trading !!

Lakshmi Ramachandran


Anonymous said...

dear lakshmi

can you change 4182 to 5182 pls.

KKR said...

Just an observation. Why do you keep repeating 4182 instead of 5182. It is very confusing and misleading;

Lakshmi Ramachandran said...

kkr i am not a computer. slips can always happen.anonymous pointed it out so sweetly.

Anonymous said...

Thanks Lakshmi!

Let simple minds be, if it can't figure out a small slip nevermind the markets.

Leeds, UK

Lakshmi Ramachandran said...

you're right, But then it's like you're goodness is beign taken advantage of