Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, July 23, 2010

Reigning The Nifty 23rd July , 2010


Daily Chart 

Yesterday's "Inside Pattern" range broke out on the upside after teasing traders for most part of the trading session. Volumes were high , much higher than the last few days of consolidation. This is a positive. The immediate target should be 5479. The inverted head and shoulder target is  of 5513. The Nifty is taking it's time to achieve the target.

Daily oscillators have to still shake off the negative divergence. Half hourly oscillators are showing strength once again and all ema's bullishly aligned. 

The high of 5453 needs to be scaled decisively else the drift may start once again.

Supports are at 5400-5353-5272  and  Resistance is at 5453-5505-5518.

Happy Trading !!
Lakshmi Ramachandran

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