Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, February 24, 2012

Reigning The Nifty 24th February 2012

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

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