Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, July 10, 2011

Reigning The Nifty Weekly Update 9th July 2011

 Weekly Chart

A doji on weekly charts at key resistance as the downtrendline from 6338 and  the uptrendline from March 2009 proved resistance once again.This shows a loss of momentum in the existing uptrend.This was the eighth week below the uptrendline from March 2009 which now offers resistance at 5752.

Weekly Chart II

Redrawn trendllines to encompass recent  price highs and lows in chart II. Trade above 5766 required to invalidate the bearishness.

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Happy Trading !!
Lakshmi Ramachandran

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