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

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

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

Some Bearish Pointers on the Nifty and Bank Nifty.

Bank Nifty Weekly Chart 

Huge negative divergences are seen in Bank Nifty weekly charts.

Bank Nifty Weekly Chart 

Weekly shows a rising wedge  which is a bearish pattern.

Bank Nifty Daily Chart 

Daily shows a bearish head and shoulder pattern after breajout from the rising wedge as seen on Weekly charts above.

Nifty Weekly Chart

Negative divergence in Nifty too with Nifty making higher highs and RSi14 and Macd failing to do the same.

Nifty Weekly Chart 

Target of 22150 within reach after which we could expect a correction.

 Follow me on Twitter http://twitter.com/#!/lucksr 

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 14th December 2023

Daily Chart

Nifty had formed a broadening pattern which is a bearish topping pattern. However, the euphoria due to the Election results led to a breakout on the top. 

Daily Chart 

The breakout seems to be petering out with a bearish engulfing pattern followed by a hanging man, proving the breakout should mostly be a false breakout.

Supports at 20702  break of which could lead to filling  the huge gap area 20508-20267.

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Happy Trading !! 

Lakshmi Ramachandran