Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, February 28, 2011

Reigning the Nifty - 28th February 2011

 Weekly Chart

Weekly charts show indecision as the Nifty struggles to break out of the equilateral triangle shown in green.Breakout points are at 5455 and 5255. Support at 5085 and Resistance at 5580 in case of breakout.

Daily Chart

Same boring old chart showing retracements with a few inputs on the latest action. Nifty seems to be moving in an upward slanting channel. The support on this channel is at 5240 and resistance at 6623. 200 dema at 6606.Other supports and resistance marked on charts.

Half Hourly Chart

The rising wedge target of  5136 will be reached if the Nifty is not able to break out of the falling wedge formed on the way down from the rising wedge

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Happy Trading !!
Lakshmi Ramachandran

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