Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, July 1, 2011

Reigning The Nifty 1st July 2011

 Daily Chart

 Half Hourly Chart

 Half Hourly Chart II

On the way to achieving  6000. Support made today at 5606.The rising wedge shown in my Midday post ( ) was nullified with the Nifty moving up after a brief break down.

Half hourly chart II shows the rise to be sharp and the Nifty will need a lot of strength to keep above the uptrendline.The negative divergence persists.Support on the uptrendline at 5630 and the channel support is at 5618.

Short term trend is up but remain cautiously long till the lower high of 5944 is crossed decisively.

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Happy Trading !!
Lakshmi Ramachandran

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