Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, April 8, 2011

Reigning The Nifty 8th April 2011

 Daily Chart

Half Hourly Chart

A  lower high and lower low  formed from  key reistance trendline. However the selling pressure of the previous two occasions on 5th november 2010 and 3rd January 2011 is missing. The correction has been sideways till now.

The  half hourly chart shows the sideways movement in the form of a bearish head and shoulder pattern.Break of neckline around 5870 will give a 80 point move which may find support at the 23.6%  fibo level of the rise from 5348 to 5944.

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Happy Trading !!
Lakshmi Ramachandran

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