Nifty daily chart
There was a blood bath on street because of rupee depreciation and because of the rumor that US has launched missiles to attack Syria . So Nifty has once again fallen into descending channel . There are possibilities that Nifty will reach previous low at 5110.
Ranbaxy Weekly chart
Ranbaxy has reached a major resistance level at Rs.423 . As long as it is below this level continuation of uptrend cannot be expected.
Nifty medium term trend
| Trend | Down |
| Initiation Date | 30-07-13 |
| Initiated at | 5755 |
| Low since change | 5118 |
