Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, June 21, 2011

Reigning The Nifty 21st June, 2010

Daily Chart

The neckline finally broke down on good volumes making the break decisive.The low of 5177 remains to be broken to confirm the bear's win . Achieving the target of 4721 would then be confirmed. Support taken on the red trendline which has been good support earlier.Oscillators are in the oversold zone indicating a  pullback may be due.

Half Hourly Chart

Half hourly charts show the pullback to 5314 intraday could not be sustained.Only a trade above 5314 will bring in some upside momentum.Else Nifty will slide down the path to 4721.

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Happy Trading !!
Lakshmi Ramachandran

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