Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, June 15, 2010

Reigning The Nifty 16th June , 2010

 Daily Chart

Nifty closed above the desired 5205 level . The Nifty took support exactly at 5171 marked on yesterday's chart, making the blue downtrendline very important support. Today's candle was not as impressive as yesterday's. The breadth too was much poorer , though positive.volumes were high.

Daily oscillators are showing strength and the macd has moved above the zero line.OBV is making new highs. Half hourly oscillators have started showing negative divergence implying a minor pullback may occur.

Continue with hedged longs for the targets of  5335-5380.

Supports at 5165-5130-5115-5066.

Resistance at  5231-5263-5277-5300.

Happy Trading !!
Lakshmi Ramachandran

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