Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, February 15, 2011

Reigning The Nifty 15th February 2011

Daily Chart

 Half Hourly Chart

Nifty rallied as anticipated , opening with a gap which was left unfilled.This is bullish. Break out from the falling wedge shown on half hourly chart gives a target of 5965.  Bearish signals are being ignored.See the half hourly chart below.The shooting star appeared around the 23.6% resistance level but after faltering a bit continued to run up.This indicates the rally may continue.

Half Hourly Chart at 13-30 pm

Resistance at 5556-5562  - 5681 - 5801.  Support  at  5416-5396-5355-5319-5285.
This is a counter trend rally on low volumes. Trade light and hedged. 

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Happy Trading !!
Lakshmi Ramachandran

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