Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, June 15, 2011

Reigning The Nifty 15th June, 2011

Daily Chart

A higher high higher low candle but a directionless trade within a mere 36 point range. The downtrendline from 5944 has resistance at 5523. A breakout will give some upside momentum.50 dema at 5556 and 200 dema at 5596. Previous high at 5605. A strong resistance area needs to be broken to get the bulls in good numbers.Volumes were stronger than the last few days.

Half Hourly Chart

The lacklustre trading continues within the falling channel now having resistance at 5517-5507  and  support at 5420-5413.The right shoulder forming seems more plausible now.

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Happy Trading !!
Lakshmi Ramachandran

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