Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Saturday, January 23, 2021

Reigning The Nifty and Bank Nifty 25th January 2021.


Weekly Chart 


An Outside Day pattern was formed on weekly charts which could be signaling a reversal or deceleration of the current trend.
 An outside day is when the day's candle completely encompasses the previous day's candle with a higher high  and a lower low compared to  the previous day.
A trade below the low of this pattern will confirm more correction.

 Daily Chart 


Daily charts show minor divergence in RSI and Macd.The latest channel shown in blue has been broken down. Depicted more clearly in the Hourly Chart below.

This supports a bearish view for the very short term.Breaking 14238 low will see some more bearishness.Else the red contracting triangle may be followed.

 Hourly Chart 


Bank Nifty Weekly Chart


Bank Nifty followed up last week's weekly candle by a bearish one this week. It is also an Outside day pattern with higher high and lower low candle.
This indicates bearishness.

Bank Nifty Daily Chart



Caution on longs is necessary.


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Happy Trading !! 

Lakshmi Ramachandran

Sunday, January 17, 2021

Reigning The Nifty and Bank Nifty 18th January 2021


Nifty Weekly Chart 


Fibonacci projection target is around 15250
The doji alerts one to watch for the coming week's candle. A trade and close  below last week's range will confirm bearishness.

Nifty Daily Chart 


There's been a slow slide after completing target of around 14500 partially filling gap left at 14347-14383.

Nifty Hourly Chart 


Bank Nifty Weekly Chart


Bank Nifty Daily Chart


Bank Nifty showing a mild bearish bias too. 

Would be prudent to tighten stops.



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Happy Trading !! 

Lakshmi Ramachandran

Sunday, January 10, 2021

Reigning The Nifty and Bank Nifty 11-1-2021


Nifty Weekly Chart 


 Daily Chart 



Bank Nifty Weekly Chart



Nifty and Bank Nifty overbought but trend firmly up. Minor negative divergence on daily charts.

Trading light with the trend  with hedge in place is the prudent thing to do.




follow me on twitter http://twitter.com/#!/lucksr 

Happy Trading !! 

Lakshmi Ramachandran

Monday, December 28, 2020

Reigning The Bank Nifty 28th December 2020


Weekly Chart 


 Hourly Chart 


Bullish above 30546 Mild Bearishness below 28977


follow me on twitter http://twitter.com/#!/lucksr 


Happy Trading !! 


Lakshmi Ramachandran

Saturday, December 26, 2020

Reigning The Nifty 28th December 2020


Weekly Chart 


 Daily Chart  


Hourly Chart



 Trend safely UP. The Broadening pattern is a bearish signal and a breakdown from it will be the first sign of weakness. 
 


follow me on twitter http://twitter.com/#!/lucksr 

Happy Trading !! 

Lakshmi Ramachandran