Bearish Rising Wedge Gives Way

Daily Chart 

Tomorrow's action is important as a follow through is necessary to confirm the break.

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



Happy Trading !!

Lakshmi Ramachandran

Nifty Slide More Likely

Daily Chart

 

 

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


Happy Trading !!


Lakshmi Ramachandran

Reigning The Nifty 11th August 2019

 

Weekly Chart 

 

Support taken on the important trendline from 2016.This makes low made at 10783 very important to hold for any upmove.A weekly close above 11311 will set upward momentum.

Daily Chart 

 

 Target 10825 achieved ! This also was area of 61.8% Fibo level of leg up from 10004.Technically an area to bounce and we may be seeing the start of one.

Overhead resistance of 200 ema at 11271.

 

Half Hourly Chart 

 

 However, the pullback seems to be lacking steam as can be seen by the failed breakout from the falling channel on half hourly charts.

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


Happy Trading !!

Lakshmi Ramachandran

Quick Followup to "A Pullback In The Offing"

Daily Chart

  Half Hourly Chart 

The pullback with a gap up opening failed to see a follow through indicting extreme 

bearishness.Close was below 11108 opening possibilities of 10584 which is next support.So the target

 of 10825 is very achievable now!

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


Happy Trading !!

Lakshmi Ramachandran

A Pullback In The Offing

Half Hourly Chart 

Half Hourly Chart 

Morning Star Bullish candle pattern with positive divergences

Daily Chart 

 

Bearish engulfing pattern in a downtrend is considered bullish.Positive Divergence on oscillators too.

Daily Chart 

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



Happy Trading !!



Lakshmi Ramachandran