Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, September 27, 2020

Weakness Persists in Bank Nifty


Weekly Chart 


 Daily Chart 


 Hourly Chart


Bank Nifty has already retraced around 55% of the rise from March lows showing bear strength.A fall below the 61.8%  level of 19598 will probabaly lead to make fresh lows.



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Happy Trading !! 

Lakshmi Ramachandran

Downtrend confirmed


Weekly Chart 


 Daily Chart 


 Hourly Chart 


The pullback on the last trading day will hit strong resistance in the 11100 to 11200 area as marked in the chart below.

Hourly Chart showing Resistance



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Happy Trading !! 

Lakshmi Ramachandran

Saturday, September 19, 2020

Range Bound Markets


Weekly Chart 


 Daily Chart 


Hourly Chart 


Bank Nifty Weekly Chart


Bank Nifty Daily Chart



The sideways move on Nifty could break out either way.Bank Nifty is clearly drifting down within the range. 

 I would continue to be cautious. 



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Happy Trading !! 


Lakshmi Ramachandran

Sunday, September 13, 2020

Bank Nifty Confirms Bearishness


Weekly Chart 


 Daily Chart 


 

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Happy Trading !! 

Lakshmi Ramachandran

Lower high Lower low in place


Weekly Chart 


 Daily Chart 


Nifty has recovered 50 % of the fall from 11794 to 11185.A lower high lower low is in place confirming a short term downtrend. Only a close above 11585 will negate this.

 Five Minute Chart 



The correction is within a falling channel as shown on the 5 minute chart.A breakout from the channel will be the first sign of the upmove resuming.



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Happy Trading !! 

Lakshmi Ramachandran