Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, November 12, 2010

Reigning The Nifty 12th November , 2010

 Daily Chart

Today's candle filled the second gap between 6182-6199 and took support at the 38.2% retracement level of rise from 5937.The candle was wide ranged and with high volumes, shows bears in control. The next gap is between 6138-6147.  6138 is the 50% retracement level of rise from 5937. Look for support at this level failing which the last gap support between 6032-6084 should come into the picture. The 6090 is  the 61.8% retracement level.6103 is the 23.6% retracement level of rise from 5349.

Half Hourly Chart

Half Hourly charts show the decending triangle breakout giving a target of 6143.

Supports at 6148-6132  -----6103- 6084-6032.          Resistance is at 6218-6242-6261.

Happy Trading !!
Lakshmi Ramachandran

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