Reigning the Nifty - 18th March 2011

 Daily Chart

Bearish candle with a gap down resisting  once again at the red trendline.The movemnet since the top on 4th March at 5608 is sideways with a slightly downward bias resulting in a downward trending channel.the 5 dema has bearishly crossed the 10 and 20 dema and the 50 and 200 dema continue to move downwards.

 Half Hourly Chart

Stalemate continues within the double bottom -- 5177-5232-- and the double top --5599-5608--. Till we have a decisive breakout , expect a lack lustre sideways movement creating whipsaws.



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com