Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter!/lucksr

Thursday, November 24, 2011

Reigning The Nifty 24th November 2011

 Daily Chart

The Nifty broke down from the red neckline of the bearish head and shoulder pattern in the beginning of August 2011 giving a target of 3900.The recent rally to 5399 was a classic test of the neckline and the reaction from 5399 a resumption of the downtrend  which was confirmed with a break below the low of 4720.

 The crucial support of 4650-4675-4720 level too was broken indicating further selling to come. 

follow me on twitter!/lucksr

Happy Trading !!
Lakshmi Ramachandran

No comments: