Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, February 4, 2011

Reigning The Nifty - 4th February 2011

 Daily Chart

Today was a bullish engulfing candle which failed to cross the upper resistance of the Inside day pattern.Breadth was marginally positive and volumes low. So the indecision continues.A break above the high of 5539 would give more confidence to the bulls.The 200 dema is at 5642.

Half Hourly Chart

The half hourly charts give a reminder of the neckline and triangle supports which gave way and will now act as resistance. The down trending line from 6181 is the first major hurdle to be crossed at 5604 by end of day.200 ema on half hourly charts is at 5634.

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Happy Trading !!
Lakshmi Ramachandran

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