Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, April 6, 2010

Reigning The Nifty - 7th April , 2010

Daily Chart

Half Hourly Chart

  • Doji star at resistance of 5385 on daily charts ,  ringing alarm bells.
  • Volumes were marginally higher and breadth though positive , did not impress.
  • Daily oscillators are in negative divergence.
  • Half hourly oscillators have turned down from overbought zone.
 A higher high and higher low keeps the trend up. However , the doji star which is a reversal pattern makes one cautious. The doji star pattern consists of,
  1. 1st day is a long white day.
  2. 2nd day is a doji day that gaps above the 1st day.
  3. The doji shadows shouldn't be excessively long.
A strict  stop loss of  5287 (10 dema) -5291 (low of bullshi candle of 5th April)  should be maintained on longs.

Happy Trading !!

Lakshmi Ramachandran


anurag said...

I really appreciate your analysis,and the details you have mentioned in your profile page.


Lakshmi Ramachandran said...

thanks anurag

Sujatha said...

Sensex too has Doji today??

Thanks and regards

Lakshmi Ramachandran said...

yes doji star on sensex too