Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Thursday, February 4, 2010

Reigning The Nifty - 5th February, 2010

 Half Hourly Chart

 Daily Chart


  • Sideways movement in a tight range of 4814-4950 since last three trading sessions.
  • Breakdown from bear flag .
  • Half hourly oscillators weak and already moved below previous low.Corresponding low of Nifty at 4814.
  • Daily oscillators too are very weak.

  • Volumes on the fall were extreemly low.
  • Low of 4766 held for the fourth day in a row.

Market is in a sideways mode. Pullbacks lack strengthand fizzled out very quickly. We have not been able to break out of the Inside day pattern's range of 4814-4950. Till that happens expect  a yo-yo experience.

The trend  as per daily charts  is down but the weekly charts are yet to signal a sell. One should be cautious on longs as well as shorts.

A weekly close above 4795 could keep hopes of some upside alive for the next week.

Happy Trading !!

Lakshmi Ramachandran

1 comment:

Anoop said...

The bearish/bullish flag are more effective when these are preceded by sudden price movement. In this case, bearish flag has been preceded by sudden drop in few days. So whats in store further? Few more hundred points down?