Dear Traders,

I have started conducting  on line discussion about 'Risk Management in Trading' .  Good news is it will be free. If you are interested to participate call me on 08197190791.

Market updates for 13/12/2012

 

Nifty hourly chart

 

 

 

Nifty has become flat from few trading sessions. After a rally of 400 points this contraction is obvious. RSI is showing signs of divergence and if Nifty sustains below 5875 (spot) then it may go down till 5840.

 

Chart of the day

 

BHEL

 

 

BHEL made a break out from resistance at Rs.240  and reached a high of  Rs.248. But this breakout was not sustained and now it has closed below the support and 20 DMA. It is expected to correct further.

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	5950
Reversal if closes below	5680

 

 

To follow on twitter click on www.twitter.com/karthik4ta

 

 

Thought for the day

 

All the powers in the universe is already ours. It is we who have put our hands before our eyes and cry that it is dark. Swami Vivekananda