Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, September 24, 2010

S&P 500 update --24th September

 Daily Chart

Chart II

Follow up selling led to a break below the neckline which is a negative. The fact that the break above the 61.8% retracement level could not sustain shows lack of momentum on the upside.The support from the 10dema at 1123 held .This was also the 23.6% retracement level as shown in chart II.

Support is at  1114-1107-1094-1082 .

Resistance is at 1137-1144-1150.

Happy Trading !!
Lakshmi Ramachandran


Anonymous said...

Madam, earlier you give one long term chart of 30 minutes which shows that nifty crosses 3000 zone target as 1800 pts rise to 4800. It was an excellent chart. But, I feel is there any long term chart like that alerts us for a major correction of above 1000 points nifty? May be from 6120 zone??. Guide us with the long term chart.

Lakshmi Ramachandran said...

will put it up when we get a top else difficult to do so