Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, August 11, 2013

Nifty Reverses with the Outside Day Pattern

Weekly Chart 

The Outside Day pattern identified two weeks back reversed the uptrend as per it's character.Two week's of unabated fall retracing the upmove from 5566 in shorter time ! This shows selling pressure and the Nifty may experience some more damage.Buying strength close to 5477 low may lead to a pullback which should find resistance at the 40 & 20 Ema and the downtrendline from 6229.

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Happy Trading !!

Lakshmi Ramachandran

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