Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, January 18, 2011

Reigning the Nifty - 18th January 2011

Daily Chart

 Half Hourly Chart

A doji was formed at the 200dema support. This could prove bullish if tomorrow's candle is positive and closes above today' close not making a new low.Doji's indicate indecision and normally signal that the current trend may be reversing.

This view is supported by positive divergences on half hourly charts.The fact that today's opening high was crossed intraday but the lows  not even visited, gives some credence to this view.Holding the 200 dema is another positive.

Supports are at 5598-5638  and Resistance is at 5696-5705.

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Happy Trading !!
Lakshmi Ramachandran

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