Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, March 10, 2011

Reigning the Nifty - 11th March 2011

 Daily Chart

Directionless within the triangle which should give way one way or other by tomorrow. The 200 dema has given a downtick once again. 50 dema continues to diverge lower from the 200 dema.The shorter term averages , 5,10 & 20 are however bullishly aligned.

Half Hourly Chart

The diamond broke sending the Nifty into  negative territory. The fall was not taken advantage of by the bears leading to some efforts to recover , forming an up trending channel.

Half Hourly Chart II

The rise from 5177 seems to be a bear flag as of now . Trade in the direction of breakout .

Reminder :  Refer  post of 7th March " A double bottom and a double top formed. Crossing 5600 will confirm a double bottom and a fall below 5232 will confirm a double top. Whichever way it breaks will give a move in that direction of 370 points".

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Happy Trading !!
Lakshmi Ramachandran

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