Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, May 26, 2013

Nifty Through The Crystal Ball

Weekly Chart

I'm not a fortune teller
I won't be bringing news of what tomorrow brings
I'll leave that up to you
I'm not a fortune teller
Don't have a crystal ball
I can't predict the future
Can't see nothing at all

 Luv this song . You can hear to it here

Luckily we have technical analysis for the Nifty which helps us know the probabilities of Nifty's movements in the future.Last week saw a huge fall and the return failure to the resistance line of the rising wedge shows weakness. Read my earlier post on the rising wedge here 

The fall from November 2010 high of 6338 took 14 months whereas the rise is already 17 months old and has made a lower high 6229 indicating the rise from 4531 is indeed a corrective move.This increases the chance that a top may be near and forming.

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Happy Trading !!

Lakshmi Ramachandran

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