Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, September 17, 2012

Reigning The Nifty 17th September 2012

Weekly Chart

Daily Chart

Good bullish candle on very good volumes on weekly as well as daily charts giving a breakout from important downtrendlines shows the bulls are back. Breakout from the red triangle on weekly charts gives a target of 6300.
OBV which had predicted the upmove has surpassed highs made corresponding to Nifty's 5740 and nearly reached top corresponding with 5944 indicating Nifty has strength to continue the upmove.Oscillators in the overbought territory showing strength.

5630 will be stiff resistance as it is the previous top and the 61.8% retracement level is placed close at 5641.
Buy on dips

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Happy Trading !!
Lakshmi Ramachandran

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