Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Friday, May 11, 2012

Reigning The Nifty 11th May 2012

Daily Chart

Daily Chart

Half Hourly Chart 

An Outside Day pattern and another inverted hammer on daily charts indicating probability of a short term reversal.Supporting this view is the fast approaching oversold status of the Rsi14 ,  Stochastics , OBV has not fallen below it's previous low of this correction and a falling wedge on the half hourly charts.Flag formation too still valid.

Strong resistance at the 5029-5039 levels.Only a cross above 5136 will bring in upward momentum.

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Happy Trading !!
Lakshmi Ramachandran

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