Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Friday, September 2, 2011

Reigning The Nifty 2nd September 2011

Monthly Chart

With the low of 5177 finally broken on increased volumes, the intermediate term dow sell signal has been triggered. A monthly close above the lower high of 5944 is needed to shake off the bear hug.

 Daily Chart

Bullish followup with a gap up opening. The gap left unfilled at 5331-5229 and the 50% fibo retracement of fall from 5740 to 4720 is around 5230-5235 which will be strong resistance area.
Resistance now at 5112-5230  Supports at 4947-4904.

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: