Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, August 11, 2019

Reigning The Nifty 11th August 2019

Weekly Chart 

Support taken on the important trendline from 2016.This makes low made at 10783 very important to hold for any upmove.A weekly close above 11311 will set upward momentum.

Daily Chart 

 Target 10825 achieved ! This also was area of 61.8% Fibo level of leg up from 10004.Technically an area to bounce and we may be seeing the start of one.
Overhead resistance of 200 ema at 11271.

Half Hourly Chart 

 However, the pullback seems to be lacking steam as can be seen by the failed breakout from the falling channel on half hourly charts.

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Happy Trading !!

Lakshmi Ramachandran