Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, January 28, 2010

Reigning The Nifty - 29th January, 2010

Daily Chart

Half Hourly Chart


  • A small bodied candle with long upper and lower shadow showing indecision.
  • Lower high lower low continues into the seventh day of declines.
  • Volumes were low and Advance Declines was negative.
  • Support was taken above the red dashed trendline shown on daily charts.
  • Daily oscillators have reached oversold zone and half hourly oscillators are moving up from oversold zone with positive divergence intact.
The daily and intraday charts show a bearish picture. Oversold oscillators and postive divergences gave hopes of  a pullback. The pullback came with a gap up but soon fizzled out to break yesterday's low. However the Nifty recovered soon enough to close above yesterday's close.Tomorrow will be a weekly and monthly closing .A close above 5013 would keep the weekly scenario healthy  and a close above 5020 will keep the monthly charts healthy.

Resistances on the way up are 4941-5010-5067-5126

Supports on the way down are 4853-4833-4806-4775-4610

Happy Trading !!

Lakshmi Ramachandran


Anisha said...

Dear Lakshmiji,

I have been following your blog for sometime now. I am very impressed with your analysis of the markets.
I just need your advise on using EOD Data which has hourly and half hourly feature into it.
Could you please guide me as where I can get EOD which can be viewed in hourly, half hourly format as you do. Kindly advise me.


Anoop said...

Excellent analysis once again. I would like to add further that it does't happen too often that candles keep forming outside BB band.

Further, RSI in oversold zone at 28.2 and struggling. But Volume is on higher side, a point for worry. Still it could be a sharp recovery. I hope so.

Unknown said...

Dear Lakshmi,

I have been following your blog for about 2 weeks now and I am very impressed with your analysis of the markets,and more impressed with your commitment in this MALE DOMINATED field.
I just need your advise on improving my trading. I've been trading for the past year off and on and would like to get better.
Kindly advise me.
thanks RITU.

Lakshmi Ramachandran said...

please sign up for the forum and ask your questions there. you could get better answers there as boarders are from all India and someone may be from your city . so getting to know about data vendors etc will be convenient

Lakshmi Ramachandran said...

Anoop you seem to have good TA knowledge .It would be good if you participate at the forum

Anoop said...

I would like to join and participate. Which forum you are referring to, Pl guide. Thanx.

Let me also take this opportunity to comment on what you wrote about yourself on your blog and how you gave up your plush job at Bank to join the stock market. Those words written there had profound impact on me. Why? I am also passing thru similar dilemma. But you were bold and courageous, you took the decision. I appreciate.

-Anoop kumar

Lakshmi Ramachandran said...

visit discussion forum at