Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, November 3, 2010

Reigning The Nifty 3rd November , 2010

 Daily Chart

Half Hourly Chart

Indecision shown with a doji in an extremely small range.A higher high and higher low was however established to keep the upmove intact. The gap up area between 6032-6084 is now strong support.The 5932-5966 area too is very strong support. Till this is not violated and till the strong resistance of 6151 latest peak and high of the rally 6284 is decisively scaled, Nifty will move sideways with a slightly upward bias.

Half hourly charts show a megaphone formation which is bearish. A Megaphone Top also known as a Broadening Top is considered a bearish signal, indicating that the current uptrend may reverse to form a new downtrend.Trade long but have light positions.

Resistance is at  6138-6151-6284. Support is at  6094-6062-6037.

Happy Trading !!
Lakshmi Ramachandran


mohan said...

hello madam, i am mohan,new in stock market, today i first time watch your blog it's more usefull to me, plz advice me how to trade??how to good profit trade?? any trading strategies plz give me mam....thanks( my email )

Lakshmi Ramachandran said...

mohan join the forum at
You can learn from interaction among members there.