Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Saturday, December 26, 2009

Reigning The Nifty - 29th December, 2009

Weekly Chart

Daily Chart

Daily Line Chart

Half Hourly Chart


Weekly Volume Chart

  • A big bull candle on weekly charts.
  • The Nifty  is still stuck in the range of 5181-4942 though there was an intra day break above 5181, which could not sustain.
  • The Line charts paint a different picture , showing a breakout from the previous highs of  5148. This move confirms the double bottom made at 4942 giving an immediate target of 5354.
  • Moving Averages on all time frames are bullishly aligned.
  • Macd on daily charts has given a buy.
  • Negative divergence in daily and weekly time frame still persist.
  • The half hourly charts show a minor negative divergence 
  • Though the weekly volume is low, it is due to the truncated week.
  • Volumes were low on the down days of the week and high on up days.
Markets are  bullish as the fall in seven days was recovered in three days ! Trade long till a decisive break of the trendline joining lows of 3918 & 4538 which forms the lower trendline of the rising wedge.

Happy Trading !!

Lakshmi Ramachandran


Sujatha said...

Thanks a lot for your early postings.

Wish you and your family a very Happy and Prosperous New Year.


Lakshmi Ramachandran said...

thanks Sujatha and wish u and ur family a happy new year too

Anonymous said...

Dear Lakshmi,

Thank you for all your hard work through out 2009!

Wishing you season's greetings and Happy New Year 2010.

Kind regards
Leeds, UK

Lakshmi Ramachandran said...

thanks Lee and wish u a happy 2010 too

Anonymous said...

wish you and your family prosperity,health and wealth. Happy new year 2010

Lakshmi Ramachandran said...

thanks ananymous and wish u the same.

Anonymous said...

hi i am sripal jain.i have been tracking ur blog for few days.i have been impressed by ur work.i am looking for personal technical analyst if ur intrested please call on my mobile no 9444051176

Lakshmi Ramachandran said...

sripal jain, can u please email me with details?

Anonymous said...


Lakshmi Ramachandran said...

you can see it on the blog

Lakshmi Ramachandran said...