Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, July 2, 2012

Reigning The Nifty 2nd July 2012

Weekly Chart

Bullish candle for the week closing above the 40 and 100 ema.Trade above 5268 will encourage bulls to move towards 5630 else test of 4814 is possible as the next leg down of the triangle shown in chart below.Strong resistance at 5435.Strong support from emas between 5170-5140.

 Weekly Chart


Daily Chart 

Bullish breakout on high volumes from the downtrendline.The gap made on open increases the bullishness.The move is still within the rising wedge.Resistance at 5337 and support at 5175. Oscillators too showing strength.

Half Hourly Chart 

 Triangle target at 5346.Previous peak resistance at 5342.Expect some reaction around this level.

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Happy Trading !! 

Lakshmi Ramachandran

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