Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, September 2, 2010

Reigning The Nifty - 2nd September , 2010


 Daily Chart

The bullish hammer of yesterday was followed up by a huge bullish candle . This makes the low of the hammer at 5348, which was strong support already, a really strong support to contend with. Breadth was positive but volumes were low. The 61.8% fibo level was crossed intraday but the close was just below it.The close was above the 5,10 and 20 demas.

Only a decisive break below 5348 will weaken the uptrend . Till then it would be risky to short. 

Supports at 5450-5429-5414  and Resistance at  5478-5495-5513.

Happy Trading !!
Lakshmi Ramachandran

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