Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, February 9, 2010

Reigning The Nifty - 10th February, 2010

 Daily Line Chart


Daily Candle Chart


Half Hourly Chart


  • The day was a slow upward movement making a higher high and a higher low.
  • Failed to make a breakout from the downward trending line.
  • OBV has shown positive divergence on daily charts .
  • Rsi 14 and stochastics too have shown positive divergence on daily charts.
The upmove continued today resulting in a higher high and higher low candle.Daily oscillators including OBV are moving up with positive divergences intact. The upmove seems poised to continue .

Immediate resistances are at 4814-4827 .  A sustained move above this level is required  for further upsides.

Immediate supports at 4772-4768-4758.

Broad trend being down, one can be cautiously long once the downtrendline from 5310  is decisively broken. 

Happy Trading !!

Lakshmi Ramachandran

1 comment:

Anonymous said...

4764.70 spot support as of now.close to the given level of 4768.nice work