Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, June 16, 2010

Reigning The Nifty 17th June , 2010

Daily Chart

Half Hourly Chart

Two small bodied candles in a row maintaining the breakout but showing hesitation in continuing the upmove. Breadth was marginally positive and volumes average.Daily oscillators have slumped a little in keeping with the hesitation.

The half hourly chart shows resistance respected at the upper trendline. The negative divergence and overbought position on the oscillators are being  reacted to. Nifty may react a little more due to this . It is important to hold the breakout point of 5205 to avoid a deeper correction.

Resistance at 5255-5276-5300. Support at  5185-5161-5145-5110.

Happy Trading !!
Lakshmi Ramachandran

1 comment:

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