Daily Chart
A gap down opening closing the last gap up made on Friday.This was a
good followup to the bearishness of yesterday's candle.The rising
channel too has been broken on a closing basis.The oscillators have
turned down showing the upward momentum has weakened.
Today's low was exactly at the gap made on 15th February 2012 between
5416-5460.This should act as good support.If broken, the Nifty may seek
support at 5323 which is crucial support.A break below this will take it
to 5100.
Only a fall below 5135-5076 will put the uptrend at risk.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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