Weekly Chart
Resistance and Support levels on falling wedge for the week, are indicated on the chart. Trade on the side of breakout.
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Happy Trading !!
Lakshmi Ramachandran
Monday, February 10, 2025
Saturday, February 1, 2025
Reigning The Nifty 1st February 2025
Monthly Chart
If the price breaks below the bottom of the channel, the dip indicates that more selling could be on the way.
The oscillators, RSI14 and MACD have been moving down from the overbought zone indicating more cooling off necessary in the medium term for a strong fresh move to start.
Weekly Chart
Weekly candle is a bullish engulfing one indicating the bounce may continue. Resistance from the falling wedge is at 23900 which needs to be scaled for the move to continue within the Rising channel which started from 27th March 2022.
Support is at 22750.
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Happy Trading !!
Lakshmi Ramachandran
Tuesday, January 14, 2025
Reigning The Bank Nifty 14th January 2025
Weekly Chart
The Bank Nifty has closed decisively below the up trendline maintained since 2020 March. The candle formed is bearish indicating bears in full control.
At the same time it has also decisively broken the neckline of the topping head and shoulder formed as shown below. Target is 44940
Weekly Chart
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Happy Trading !!
Lakshmi Ramachandran
Sunday, January 5, 2025
Reigning The Nifty 6th January 2025
Weekly Chart
I'm not an expert on Elliot Wave analysis. I'm just a casual learner.
I would love to get comments on whether my counts are okay.
Besides the wave predictions, Nifty is considered to carry on the uptrend till the green channel is broken decisively. The level is at 22500 for this week.
The falling wedge shown in red indicates an upward breakout thus continuing the uptrend.
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Happy Trading !!
Lakshmi Ramachandran
Tuesday, October 29, 2024
Reigning The Nifty 29th October 2024
Daily Chart
The topping Head and Shoulder pattern has a target of 23257.Expect bounces to be followed by falls till the target is reached.
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Happy Trading !!
Lakshmi Ramachandran
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