Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, April 13, 2012

Reigning The Nifty 13th April 2012

Daily Chart

The outside pattern's indication for a reversal has been vindicated.Breakout above the green downtrendline once again and close above the 50 dema.This is bullish.The OBV  had given a bullish indication having shown positive divergence continues to move up.
Unlike the Bank Nifty, Nifty seems to be struggling at the 50 % retracement level of the last fall from 5378 to 5191.bulls need to gather more momentum to omplete the right shoulder and break the neckline at 5378-5386.

Half Hourly Chart

Supports at 5255-5233-5215-5190  Resistance at 5280-5306-5318-5360

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Happy Trading !!
Lakshmi Ramachandran

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