Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, March 23, 2012

Reigning The Nifty 23rd March 2012

 Daily Chart

An Outside day pattern breaking the low of 5233.Close below 50 dema and the green trendline.This is bearish.Support taken at the 200 dema which is now at 5203.Earlier low support at 5171 and flag support at 5099. 5130 is crucial support from the downtrendling channel from November 2010 from which the Nifty broke out in in January 2012.Break of these supports will put the rally from 4532 in danger.

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Happy Trading !!
Lakshmi Ramachandran

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