Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, September 14, 2011

Reigning The Nifty 14th September 2011

 Daily Chart

A double bottom at 4911 on half hourly charts which may help form a leg up to touch the resistance line of the expanding triangle.Resistance from the falling wedge is at 5115.Falling wedges are bullish and a break above 5115 could  see the bulls coming in.

 If the rising wedge still dominates then the fall towards the target of 4623 will continue.

 Daily Chart

Patterns galore ! Now a symmetrical triangle telling us the direction will be decided once it breaks out of the triangle - Up or Down. As of now three legs are complete and the fourth leg up  is due.If resists at the resistance line the expect the 5th leg to break the support line.

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Happy Trading !!
Lakshmi Ramachandran

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