Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, February 28, 2021

Reigning The Nifty 1st March 2021


Monthly Chart


Oscillators are positive but in overbought region.

Weekly Chart


Bearish candle follow up to last week indicates bearish bias. Oscillators showing negative divergence.
13600 levels need to be held to avoid a waterfall decline. 

 Daily Chart 


Daily charts made a lower high with a shooting star which is a bearish candle pattern,It was followed by a gapdown very bearish candle forming an island reversal pattern which is in itself bearsih too.Oscillators have formed negative divergences too.

Support was taken at gap formed between 14469-14281.With such bearish signals this support could be easily broken.

  Hourly Chart 


downward channel broken down after failed breakout from bullish head and shoulder pattern indicating bearish bias and giving a target of 13880.



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Happy Trading !! 


Lakshmi Ramachandran

Reigning The Bank Nifty 1st March 2021


Monthly Chart


Monthly charts still positive but selling at highs seen as per long upper shadow of the monthly candle.

Weekly Chart


Bearish candle for the week. Holding 32842 will be required to regain bullishness.Oscillators in overbought region.

Daily Chart


The shooting star was followed by a bearish candle after a gap down open indicating more bearishness to follow. Falling channel has been broken on the downside indicating more fall.
Target around 32385 as shown below.

Hourly Chart




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Happy Trading !! 

Lakshmi Ramachandran

Sunday, February 21, 2021

Reigning The Nifty and Bank Nifty 22nd February 2021


Nifty Weekly Chart 
 

Nifty Daily Chart


Steady fall for last four sessions. Till 14753 holds uptrend could resume.

Bank  Nifty Weekly Chart


Bank Nifty Daily Chart


The failed breakout may be signalling bearishness. However,gap supports need to be filled and previous peak around 32600 need to be conquered by bears to start a bearish trend.



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Happy Trading !!


Lakshmi Ramachandran

Thursday, February 18, 2021

Gold Update

Daily Chart 

If breaks could continue with a good fall




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Happy Trading !! 

Lakshmi Ramachandran

Wednesday, February 17, 2021

Gold Update

Gold may see a breakout on the upside having formed a falling wedge and a hammer yesterday around strong support.

Watch out if today's candle is bullish.




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Happy Trading !! 

Lakshmi Ramachandran