Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, January 14, 2024

Some Bearish Pointers on the Nifty and Bank Nifty.



Bank Nifty Weekly Chart 


Huge negative divergences are seen in Bank Nifty weekly charts.


Bank Nifty Weekly Chart 


Weekly shows a rising wedge  which is a bearish pattern.


Bank Nifty Daily Chart 


Daily shows a bearish head and shoulder pattern after breajout from the rising wedge as seen on Weekly charts above.


Nifty Weekly Chart


Negative divergence in Nifty too with Nifty making higher highs and RSi14 and Macd failing to do the same.

Nifty Weekly Chart 


Target of 22150 within reach after which we could expect a correction.





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Happy Trading !! 


Lakshmi Ramachandran

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