Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, June 24, 2010

Reigning The Nifty 25th June , 2010

 Daily Chart

 Half Hourly Chart

The Nifty is still hovering within the white candle range of 5266-5367.A black candle , a small bodied candle and a perfect doji of which the last two have returned into the  rising channel indicating false breakout. The breakout from the red downtrendline is however maintained.

Volumes were good  but heavier in the declining stocks.Breadth though positive was almost 1:1.

The half hourly chart shows the tussle between the bulls and bears more clearly. A breakout from the consolidation and then back into the flag and finally a breakout again !

The sideways move correcting the steep rise is difficult to trade as all ranges are. Only a move above 5367  or below 5266 will give sense of direction.

Supports are at  5284-5270-5246-5206.

Resistance is at  5350-5367-5400.

Happy Trading !!
Lakshmi Ramachandran

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