Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, October 6, 2010

Reigning The Nifty 6th October , 2010

Daily Chart

Half Hourly Charts

A lower low and lower high candle following the shooting star makes the bias bearish.Today's action formed a bear flag and the prices broke down from it in the last hour. This indicates the fall may continue.The positive was that breadth was marginaly positive and volumes low. 

The support on the uptrending channel is now at 6082 which coincides with the 50% fibo retracement level of rise from 5932 to 6222.This makes it very strong support.

Resistance is at 6157-6188-6222.  Supports 6144-6115-6082.

Happy Trading !!
Lakshmi Ramachandran

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