Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, November 16, 2010

Reigning The Nifty - 16th November , 2010

Daily Chart

Half Hourly Chart

Nifty almost closed in on the last gap between 6032-6085 which now makes the low of today , 6039 very important support.

The support of 6069 mentioned yesterday was violated intraday and recovered quite hesitatingly, but  finally ended up by 50 points.  The recovery effort  is not too impressive.Resistance is at 6153-6202-6224. Till these levels are crossed one has to be careful on longs.

Corrections are healthy and welcome though it unnerves you. But till strong supports are broken and the longer term is still up, one needs to be cautiously optimistic and be careful on shorts too!  Supports are at  6101-6060-6039.

Happy Trading !!
Lakshmi Ramachandran

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