Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, May 25, 2010

Reigning The Nifty - 25th May, 2010

 Daily Chart

The Nifty made an  Ominous Doji with a  long upper shadow on daily charts.Volumes were very average and breadth slightly positive.This shows confusion once again with bears faltering at lows helping to keep at  Friday's close, and bulls unable to continue follow-up buying.
Daily oscillators , stochastics is moving up from oversold zone , and Rsi 14 is moving up after positive divergence.

Bears have an upper hand till the down trending channel is broken out decisively.

Resistance at  5000-5080.

Supports at 4900-4845.

Happy Trading !!
Lakshmi Ramachandran

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