Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, January 11, 2011

Reigning The Nifty 11th January 2011

Daily Chart

Half Hourly Chart

The fall was fast and furious. Extreme weakness with all oscillators and OBV below their November lows. Macd below zero line. Supports now at 5731-5721- 5700-5690-5639. All marked on the chart.If none of it holds, 5639 has a good chance, then down to September 2010 lows of 5348.

Resistance at 5794- 5847-5911.

If the line joining 5721 and today's low 5741 holds then the Nifty could be forming a bearish head and shoulder pattern.

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Happy Trading !!
Lakshmi Ramachandran

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