Daily Chart
Daily Line Chart
Half Hourly Chart
Sensex
- An inside day showing indecision but the closing was lower than previous trading session showing weakness. .
- Close above the low made at 4954 showing stalling of selling.
- Up trendline joining lows from July 2009 yet not violated though the Nifty traded below it intraday in the last two sessions.
- All emas bearishly aligned on half hourly charts making the short term trend bearish.
- 5,10 & 20emas bearishly aligned and 5 bearishly aligned with the 50 ema on daily charts showing increasing bearishness.
- All half hourly oscillators have moved up from the oversold region but not showing strength. Daily oscillators are weak and approaching oversold levels.
- Support taken above the bottom made at 4945 in the month of December.
One could also take a cue from the high and low of the Inside day pattern . The high is at 17000 and low 16608. Trade long if 17000 is taken out decisively and trade short if the low of 16608 is broken.
Supports and resistances shown on Charts.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
12 comments:
Dear Laxmi,
Good analysis. I stumbled upon your blog just a week before and I have liked your anylysis alot.Now I am a regular reader of your posts. I have been learning TA lately.
I also notice formation of a symmetrical traingle on half hourly chart which may indicate continuation of bearishness? what do u say? Further, I notice one support line which is not exactly horijontal on your daily chart?Thanx.
Symmetrical triangle once again is indecision.But most probably it should be a continuation pattern and break down. But till it happens you cant be sure. the red dotted trendline has given good support on many occasions and is not horizontal but with a slight slant upwards
Your blog seems to be missing lot of info on right side?
info on right side?? couldnt get you
I mean giving details about you and your favorite links/blogs etc. In facts, there was lot missing untill you updated your blog today.
Now at least main body of the blog is visible but not on the right side info as mentioned above.
Mam, Anoop,
Its a browser issue. If you use Mozilla the blog looks fine. But if you use Google Chrome or IE, lots of things seem messed up -- info on right side is missing, blog looks incomplete.
-Girish
Hm... thoughts are different always :)
Me feel blog is good looking and very crystal clear instead of lot of advertisements, details etc.,etc.,
Regards
Now its showing all the informations. Reference to missing info was related to archives and certain other useful links.
i support sujatha comment
Mam,
If your support levels held, shall i hold my longs...where we are heading... still going south..without any recovery.
Any intraday clue???
Regards
PS : don't mind can answer.. i don't feel bad if at all not getting answer from you :)
sujatha
visit the forum. we have formed a nice team of rahul,rajamohan, rajamani,raj24,girish,piyush , vsrao and others. you can get answers there intraday
I exit my longs at 4901 and out of position now..
Hm..i was facing password problem in forum, hence not able to visit.. Now rectified i am using the password which system has generated.. not able to change my own password.. shall i continue to use the system generated password? in future too?
Today's confusion is as market is OS levels, but still falling... not able to take decision.. as fear to short and hold long too... :(
Expecting your post early today.
Thanks in advance.
Regards
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