Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, August 11, 2010

Reigning The Nifty 11th August , 2010

 Daily Chart

Daily Line Chart

 Half Hourly Chart

The broadening triangle's upper trendline offered strong resistance and Nifty reacted as expected to correct 45 points on good volumes. Support was found exactly on the dotted trendline  joining the low made on 30th July 2010.The Obv on daily charts has broken it's bottom made on 6th August .The corresponding low of Nifty  on Line charts is at  5431 .

Breadth was negative and Volumes were higher than the past few days. The declining volumes were much higher than the advancing volumes.Negative divergence on daily charts are intact.

Check for supports and resistance marked on the charts.

Happy Trading !!
Lakshmi Ramachandran

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