Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Saturday, May 14, 2011

Reigning The Nifty Weekly Update 14th May 2011

 Weekly Chart

 Weekly Chart II

The weekly candle formed an Inside day pattern indicating indecision.The candle seems more a  pause in the selling rather than an exhaustion of the selling.The green support line from 5177 lows still proves good support. For the coming week support on this line is at 5487.Two important trendline shown on weekly chart II have supports at 5550 and 5330.Only a break of the second support will bring in panic selling as 5300 is good support. Oscillators are weak showing a downward bias.

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Happy Trading !!
Lakshmi Ramachandran

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