Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Monday, March 15, 2010

Reigning The Nifty - 16th March, 2010

Daily Chart

Half Hourly Chart

  • Sideways movement continues but bias was changed to 'down' today .
  • Doji  second day in a row with lower high and lower low.
  • Advance Decline negative since 9th March.
  • A bearish head and shoulder formation on the 30 minute charts. Break of neckline around 5100 will give a target around 5045 which coincides with the 23.6% retracement of rise from 4675.
The first sign of weakness would be break of 5100. Keep your stop at this level for existing longs.Longs with a slightly longer term view could wait for a break of the uptrendline from 4675.

Happy Trading !!

Lakshmi Ramachandran


Manish said...

Read your profile. Its quite interesting and inspiring. I am sitting today where you were sitting 10 years ago...want to start learning Technical Analysis..Has it turend worthwhile to you...??

Lakshmi Ramachandran said...

yes it has. But took a lot of focus. It was and is technical analysis learning eday and night. Of course I did it out of passion for the subject.

Manish said...

Thanks for the reply. I know the going will be tough but sitting at a stagnant job thats kind of challenge i am look at. I too want to study out of the passion for the subject but if in the process i bcome the master of my own time then that won't be bad. Is therea mail ID where you can be contacted at....

Lakshmi Ramachandran said...

It would be better if you joined the discussion forum where you can interact with so many other stock market freaks