Reigning The Nifty 30th May 2022

Weekly Chart 

 Daily Chart 

 Hourly Chart 

Gap resistance at 16484-16852 will prove strong to cross. The downtrend line shown in green on half-hourly charts is around this same level which makes it strong resistance. 

 If crosses it easily then there will be a bullish move of around 700 points.

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 30th May 2022

Weekly Chart 

 Daily Chart 

 Hourly Chart 

Bank Nifty is approaching 35888 being strong resistance at 200 Ema which is also the 50% retracement level as shown on the daily chart.

The next resistance is at 36565  the 61.8% retracement level.

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty and Bank Nifty 24th May 2022

Nifty Daily Chart

Range continues as resistance at 16404 for Nifty and 34797 for Bank Nifty respected.

 

Bank Nifty Daily Chart

 

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 23rd May 2022

Weekly Chart 

 Daily Chart 

 Hourly Chart 

Nifty moving in a range between 16404-15735.Break of the levels mentioned should give a 700 point move on  that side.

Resistances seem more difficult to break than supports at the moment. 

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 23rd May 2022

 Weekly Chart 

 Daily Chart 

 Hourly Chart 

Sideways move in an equilateral triangle. Equilateral triangles can breakout on any side but given that Bank Nifty could be completing the Right shoulder of a Head and Shoulder pattern - shown on Weekly Chart--, the  break is more possible on the lower side.

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 16th May 2022

Weekly Chart

 Daily Chart 

 Trend continues down. 15000 will be important support to be held to avoid extreme weakness.

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 16th May 2022

Weekly Chart

Daily Chart

 If support at 33013-32065 breaks then expect a waterfall movement down. The head and shoulder pattern shown on weekly charts has a target of around 22000 !

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 9th May 2022

Weekly Chart 

 Daily Chart 

 Hourly Chart 

Trend continues down. 

Resistance between 16484 to 16860  at Gap and 200 Ema will be difficult to overcome. Sell on rise will be the mantra for now.

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 9th May 2022

Weekly Chart 

 Daily Chart 

Trend down with Resistance at gap and 200ema as marked on chart.Sell on rise till successfully overcome these resistances.

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 2nd May 2022

Monthly Chart

Moving downwards in a downward sloping channel.

Weekly Chart 

Moving in an ascending broadening wedge which is a bearish pattern. Looking at it another way, it is a bearish Head and Shoulder pattern with an upward sloping neckline.

 Daily Chart and  Hourly Chart showing the same Head and Shoulder patterns.Holding 32155 is key for bulls. 

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 2nd May 2022

Monthly Chart

A broadening descending wedge formation is seen on Monthly charts and is characterized by increasing price volatility with two diverging trend lines. It usually occurs after a significant rise, or fall, in the action of security prices. Statistically, the descending wedge breaks out bullishly.

Weekly Chart 

Daily Chart 

Moved within last week's range forming an Inside day. As per daily charts, last day's trade was very bearish indicating high chances of the bearishness continuing.

The action since March 22nd seems to be forming a bearish Head and Shoulder pattern with a neckline around 16900. This adds evidence to the bearish bias.

Hourly Chart

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

Happy Trading !! 

Lakshmi Ramachandran