Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, July 28, 2011

Reigning The Nifty 28th July 2011

Daily Chart

The last two day's fall reminded one that the right shoulder of the bearish head and shoulder pattern  could be forming.Crucial resistance to be overcome for an upmove to start is at 5648 and 5740 both marked on the charts.Crucial support is at 5497 failing which the downtrend could gain momentum.Supports are at 5497-5468-5403.

Half Hourly Chart

 The half hourly charts reiterates what the daily charts say. Once 5497 breaks the rising wedge target of 5196 would be attempted to reach.

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Happy Trading !!
Lakshmi Ramachandran

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