Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Thursday, May 19, 2011

Reigning The Nifty - 19th May 2011

 Daily Chart

Nifty closed below the head and shoulder neckline for the second day in a row .Targets for the fall are 4910 as per the head and shoulder pattern. The bear flag gives a target of 5010. Improtant supports are marked on the charts.Oscillators are showing positive divergence as they have failed to make a lower low alongwith the Nifty. A pullback may be coming which would best be sold into.

Half Hourly Chart

Oscillators continue to be in positive divergence.Bears may take a pause.

On vacation from tomorrow. Will be back on the 27th !!

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: