Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, October 17, 2012

Reigning The Nifty 17th October 2012

Daily Chart 

Nifty stuck between 5729-5636 range for the last few days.The red neckline  was tested again today breaking under it briefly but failed to close below it. The bearish engulfing pattern formed seems to suggest the neckline has a high probability of breaking down soon.The flag redrawn has resistance at 5700 and support at 5600.The stalemate needs to be broken to gain up or down momentum.

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Happy Trading !!
Lakshmi Ramachandran

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