Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, May 16, 2012

Reigning The Nifty 16th May 2012

Daily Chart

Half Hourly Chart

A bullish engulfing pattern while the daily oscillaotrs are oversold indicates the Nifty may see a decent rally.The falling wedge on half hourly charts brokeout on the upside but was not too impressive.The minor peak at 4976 and the red trendline of the expanding triangle which has resistance at 4952-5941 for the day needs to be taken out decisively for the rally to materialise.

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Happy Trading !!
Lakshmi Ramachandran

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