Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, June 22, 2011

Reigning The Nifty - 22nd June , 2010

Daily Chart

An Inside day pattern and a doji  formed. Both indicating indecision. trade was well below the 5348 level and all attempts to stay above 5300 failed. This indicates weakness.As per the Inside day pattern the high of 5377 and low of 5196 needs to be taken out to indicate further direction. Till then it will be indecisive trade days. Stochastics and Rsi14 in oversold zone.

Half Hourly Chart

A bear flag seems to be forming which should ultimately break lower. Support at 5269-5285. Resistance at 5326-5330.

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Happy Trading !!
Lakshmi Ramachandran

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