Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, April 20, 2012

Reigning The Nifty 20th April 2012

 Daily Chart

Daily Chart

Half Hourly Chart

The Nifty has broken out of the flag silently without the conviction required to bring in the bulls.The candle formed was unimpressive and merely traded yesterday's range. Though we have confirmation about  the start of an upmove from the demas which are all bullishly aligned, I would wait for more evidence to say I am bullish.I would stick to cautiously bullish.

Half hourly charts made a potential double top at 5342.Break of 5291 will confirm it and give a move down to 5240 and would be the next lef down of the red triangle.

Supports and Resistance marked on charts.

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Happy Trading !!
Lakshmi Ramachandran

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