Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, November 4, 2012

Reigning The Nifty 2nd November 2012

Half Hourly Chart

Nifty continued the pullback and has closed above the breakout level of 5635-5630.Having pulled back from the 38.2% fibonacci level indications are bullish.

Logically 5725 should be tested again.The falling channel shown in red indicates an upward breakout is possible so watch for the resistance at 5680-5677 area being crossed intraday above which 5725 will be tested.If closes above 5725 targets are 5815 and above.

Supports are at  5577-5573  intraday below which good support of 5565-5527-5485 is available.

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Happy Trading !!

Lakshmi Ramachandran

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