Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, April 10, 2012

Reigning The Nifty 10th April 2012

Daily Chart

The island reversal was confirmed with another gap down bearish candle.The 5&20 dema is in a sell again.200 dema at 5208, previous low at 5135 and the green trendline joining the two swing lows of this ongoing correction at 5122 will be crucial supports to watch.
Support taken at  61.8% fibo level of the last rise from 5136 to 5378. If holds , the right shoulder of the inverse head and shoulder could be forming.
Buy on dips to be stalled till some bullish recovery signs seen.

Half Hourly Chart

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Happy Trading !!
Lakshmi Ramachandran

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