Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, January 27, 2010

Reigning The Nifty - 28th January, 2010

 Daily Line Chart

Daily Candle Chart

Half Hourly Chart

  • Huge bearish candle on high volumes decisively breaking the uptrendline from July lows.
  • Support taken at 61.8% retracement level of rise from 4538 to 5310.
  • Support taken on red dashed trendline on daily candle chart, which has been good support  since November 2009.
  • The 10 and 50 dema  join the  bearish alignment bandwagon.
  • Daily oscillators have reached oversold levels but no sign of recovering.
  • Half hourly oscillators have turned up from oversold zone and given positive divergence.
The trend is now clearly down. We may expect a pullback from present levels as Nifty has reached good support levels and intrady oscillators have started showing positive divergence.Besides, the fall has been for  6 continuous  days.
Fibo resistances on the way up are at  4945-5016-5073-5131.
Supports on further fall is at  4806 --previous low made on 27th November 2009, 4639-200dema, November 2009 low- 4538 .

Happy Trading !!

Lakshmi Ramachandran


Anoop said...

Excellent analysis.

Chanakya said...
This comment has been removed by the author.
rani patel said...

looks like you are here only to criticise. So you dont follow the blog on a daily basis . If you had then you would know that if you had followed properly your hedged longs would have come out with good profits. please refer post for 25th January. Stop dirtying the sanctity of this blog

Sujatha said...


Don't understand man.. Y u r behaving(writing) like this? if u don't understand her writings, please feel free to ask her or contact thro her forum what is TA... hope u r not understanding properly the charts..

Please don't visit if u don't like this blog, it's not MUST that u hv to visit here.


PS : Name is good..atleast if u can't be like "Chanakya" but pleaseeeee try to be a good man

Lakshmi Ramachandran said...

rani,sujatha thanks for your comments.
chanakya thanks for your comments too. It helped me recognise my die hard fans

Girish Desai said...

Mr. Chanakya,

It looks like you have no clue what trading is. If someone could forsee the future then life would be extremely boring. May be you never heard "its not the destination, its the journey" that matters.

Those who look for recommendations/calls are in my veiw "sheeple" because they are "people who just know to follow the herd". Can't apply brains may be because they don't have one!

The analysis presented here is more elaborate than any technical analysis Guru that comes on TV and misleads people like you. So even if you had an iota of respect for the knowledge of a person you wouldn't speak like this.

So do yourself a favor - get yourself a book that describes technical analysis, hedging, longs, shorts ... and understand the meaning. And then come back to read the blog - may be it will start the process of trasformation from sheep to a human being!

After that you can start dreaming of becoming a trader.


Lakshmi Ramachandran said...

thanks for ur comments Girish

Chanakya said...

Guilty Conscious pricks the Mind!!

I have not commented on anything bad abt any analysis... but lo!! Pounce they all! hehehe...

Only hard fact that is stated is>>

"painting all possibilities is one thing and acting on only one of them another!!"

thats the truth which needs to be learnt by many bloggers... and blog readers need to be less irritated and hostile!

Rest in Peace friends! Cool :)

Lakshmi Ramachandran said...

funny chanakya. i find your comments funny. anyway, will not publish anymore comments on this topic.topic closed