Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, August 31, 2010

Reigning The Nifty - 31st August, 2010

 Daily Chart

Nifty formed a doji with a long upper shadow as higher levels due to global cues got sold into. The close though positive was towards the low of the day. Breadth continues to be negative , taking the advance decline line to greater lows.Volumes were not impressive.Daily stochastics remains in the oversold range showing that prices are trending down.The pink neckline held well today and has support at 5394.50. The 50 dema has support at 5387.

The sensex has formed an inside day with friday's candle range being 18248 - 17944.One could look for direction tomorrow on the basis of this range.

Supports and Resistance marked on the chart.

Happy Trading !!
Lakshmi Ramachandran

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