Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, November 25, 2010

Reigning The Nifty - 25th November, 2010

 Daily Chart

Half Hourly Chart

Bulls failed to cash in on the bullishness of yesterday's hammer. However  support was once again taken on the green dotted uptrendline from the low of 4786.Also a higher high and higher low was made though with a very small difference on both ends.

The neckline of the bearish head and shoulders too has been held.The neckline is around the 5848-5850 level for tomorrow. Breaking this would find support on the lower trendline of the downward sloping channel which is around 5790-5760.Resistance from this channel is at 5950-5925.Only a break above this channel can see some pullback. The 61.8%  retracement level of rise from 5349 to 6338 is at 5730. The 38.2% retracement level of rise from 4786 to 6338  is at 5750.

Resistance at 5890-5920-5944-5976    and    Support at 5850-5825-5785-5730.


Happy Trading !!
Lakshmi Ramachandran

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