Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Wednesday, September 7, 2011

Reigning The Nifty 7th September 2011

 Daily Chart

An Outside Day pattern aoccured which is a one day reversal pattern. The Nifty was in a correction since the last two days which continued for a good part of today's session. Thus the pattern could be indicating a reversal of  this very short term downtrend.

A rising wedge could be forming as shown in red. This could have bearish implications if the resistance line of the wedge is respected.

Resistance is at 5101-5187-5234-5290     Support is at 4943-4915-4870.

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: