Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, March 7, 2012

Reigning The Nifty 7th March 2012

Daily Chart
Volatile day due to the news about polls.The close was below the green neckline adding to the bearishness.
The trend is down and  oscillators point to further weakness.Supports and Resistance marked on the charts and fibonacci levels marked on half hourly charts.

Half Hourly Chart
Half Hourly Chart 
Inverted cup and handle formation broken down giving a target of 4890.This is very bearish as the uptrend may be put in danger if achieved. Buying on dips may be deferred till some signs of reversing the short term downtrend appear.

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Happy Trading !!
Lakshmi Ramachandran

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