Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, March 24, 2010

Reigning The Nifty - 25th March, 2010

 Daily Chart

Daily Chart II

 Half Hourly Chart

  • An "Inside day" which signifies indecisiveness.
  • Nifty  above trendline joining Jan 2008 and Jan 2010 highs since 17th March .
  • Nifty has broken out of the falling wedge shown on intra day charts.
  • Positive divergence on half hourly charts. Macd has given a buy once again after giving a sell on 17th March at 3pm.
  • Break below rising wedge maintained.
  • Daily oscillators --stochastics moving down after negative divergence and macd moving towards it's signal line.
 Bears failed to follow up on selling leading to confusion of short term traders.The inside day upper limit is at 5260 and lower limit is at 5187. Break on either side should give us the direction for trade.Being neutral till further clarification would be prudent.

Happy Trading !!

Lakshmi Ramachandran

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