Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, February 28, 2012

Reigning The Nifty 28th Feb 2012

Daily Chart

The head and shoulder target of 5298 was achieved.The 5323 level was broken very easily.Very bearish candle on the daily charts indicating serious selling.Rsi14 has moved below the 50 mark indicating weakness.Stochastics has reached oversold levels.The weakness indicates more selling to come.5235 is the support from the green neckline and it is very important that the Nifty respects it else the Nifty will test the 5083-5076 levels.

Any bounce will find resistance at 5354-5407-5449-5491

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Happy Trading !!
Lakshmi Ramachandran

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