Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, July 22, 2011

Reigning The Nifty 22nd July 2011

Daily Chart

Decisive break down from the rising wedge.The target is 5066. Close below the  50 dema which is already bearishly aligned with the 200 dema adds to the bearishness.

 Half Hourly Chart

As mentioned in Midday Nifty , have spotted two sets of cup and handle one small and another large.Both necklines shown in light green with the target in blue.Break of 5555 gives a target of 5450 and break of 5496 gives a target of 5250.The rising wedge target stands at 5196. The first neckline cut ! Play along !

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Happy Trading !!
Lakshmi Ramachandran

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