Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Wednesday, April 28, 2010

Reigning The Nifty - 28th April, 2010

 Daily Chart

Half Hourly Chart

  • Inside day keeping within the range of previous day of  5342-5299.
  • Failed to move above the trendline from which it broke down --shown on daily chart.
  • Broken down from rising wedge shown on half hourly charts.
  • Daily oscillators have mader lower highs and starting to move down.
  • Half hourly oscillators are not showing strength too.
  • Emas on all time frames bullishly aligned.
Yesterday's high and low become turning points tomorrow. The break of rising wedge points at breaking the low of 5299.Expect a test of the trendline joining Jan 2008 and Jan 2010 trendline shown in red.

An upmove would require the Nifty to trade more robustly  above  5370-5400.

Long or Short remain hedged till more clarity on direction of the Nifty.

Happy Trading !!
Lakshmi Ramachandran

No comments: