Happy New Year

Reigning the Nifty 26th December 2011

 Weekly Charts

4650-4720 supports held on closing basis on weekly charts which is a positive

 Daily Charts

The daily charts are weak with a lower low.Only a cross above the lower high of 5100 will turn the short term bullish.Till then a break below the lows of 4531 is a high possibility.


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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 23rd December 2011

 Daily Chart

 An upmove within the triangle continues.Resistance at 1256-1267-1280. Support at 1234-1226-1213.


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Lakshmi Ramachandran
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Reigning The Nifty 23rd December 2011

 Daily Chart

Bullish follow up candle with a breakout from the short term downtrend channel.The upmove has formed a channel with resistance at 4790 and support at 4686.

Strong resistance at 4818.If manages to scale 4818 then can target 5100.



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Lakshmi Ramachandran
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Reigning The Bank Nify 23rd December 2011

 Daily Chart

Bullish follow up candle breaking out of the short term down trendline.Oscillators moving up from oversold zone indicating some more upsides possible.

Resistance at 8602-8951.



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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 22nd December 2011

 Daily Chart

Bears still active and pushed prices down but bulls won by taking it up to close positive.Trend  unclear in the short term till the breakout from coil.Trade light.



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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 22nd December 2011

 Daily Chart

False breakout from the bearish neckline.The oversold status did it's job with a good rally on the highest volumes this month. It  is still a sell on rise  market. Watch out for 4818 which is strong resistance.


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Lakshmi Ramachandran
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Reigning The Bank Nifty 22nd December 2011

 Daily Chart

Pullback due to the oversold status caught bears on the wrong foot proving the neckline breakout false.Strong resistance at 8705.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 21st December 2011

 Daily Chart

Surprise rally ! Strong resistance at 1258-1267.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 21st December 2011

 Daily Chart

The downward sloping neckline was broken decisively finally giving a target of 3876.The oversold status of the market may bring in some pullback. So selling on rise would be prudent.




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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 21st December 2011

 Daily Chart

Selling continued inspite of the oversold status and positive divergences.Further targets marked on charts.7720 should hold .If not then a slide to 6300 probable.Sell on rallies would be prudent rather than taking a short position.


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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 20th December 2011

 Daily Chart

Break down from the triangle clearly shows the trend down. Supports now at 1192-1158.A fall below 1158 should change the short term uptrend to down. 




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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 20th December 2011

 Daily Chart

 A hammer at trendline support on the daily chart.This is a bullish reversal pattern.The positive divergences and the oversold status of the stochastics support the possibility. Confirmation of  it's bullishness is  required with an upside  follow through today else we get the downside targets.


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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 20th December 2011

 Daily Chart

The Bank Nifty broke below the downward sloping neckline giving a target of 6370.The positive divergence is still intact.Further fall will invalidate this so bulls need to pull up the Bank Nifty to take advantage of this for some pullback.



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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 19th December 2011

 Weekly Chart

 Daily Chart

 The weekly candle is bearish and made a lower low lower high.The triangle formed is an equilateral one making it difficult to predict the direction of the breakout.Oscillators on weekly and daily are neutral except the daily stochastics which is in oversold zone.So better wait for a break of the triangle resistance or support and trade in that direction.Between these two levels will be a listless market full of whipsaws.


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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 19th December 2011

 Weekly Chart

 Daily Chart

The 2010 year's low was broken but still hesitating to break the 4650 levels decisively.The daily has formed an Outside Day which is a one day reversal pattern.Watch the next candle to see whether the reversal is confirmed.If 4600 is held then an attempt at reversal may be made by the bulls.Else expect 4400 as the first target.



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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 19th December 2011

 Weekly Chart

Daily Chart

A bearish candle on the weekly breaking below the downward sloping channel and the 50% fibo retracement level of rise from March 2009 lows.This could mean a test a of the 61.8% level at 7120.

Outside day on daily charts.This could be signalling a short term reversal as it is a one day reversal pattern.Watch out for the next candle to see if it does reverse.



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Lakshmi Ramachandran
www.vipreetsafetrading.com

Busy Packing , So can't concentrate !

 Busy packing to get back to India. Will be back with a post for Monday if jetlag permits.Sorry !



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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 13th December 2011

 Daily Chart

The Inside Day pattern and the red down trendline was broken on the down side intraday.This shows both the bulls and bears undecided and non committed.

Supports are at 1232-1223  Resistance at 1253-1267-1277


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Lakshmi Ramachandran
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Reigning The Nifty 13th December 2011

 Daily Chart

 

Daily Chart showing the latest H&S Bearish pattern with crucial support at 4620 threatening a 750 point move down if broken.However this is strong support area as shown in earlier posts.The intraday charts showing a falling wedge which is a bullish pattern. So wait to see what direction the Nifty takes to trade further.

Intraday One Minute Chart

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Lakshmi Ramachandran
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Reigning The Bank Nifty 13th December 2011

 Daily Chart

The big bearish candle after  a doji confirms the downtrend is not willing to reverse. Weak oscillators support the continuation of the downtrend.

The second chart shows a bearish head and shoulder pattern which if broken could give a down move of 1663 points. Neckline support at 8115.


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Lakshmi Ramachandran
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S&P500 12th December 2011

 Weekly Chart

 The weekly candle  resisted at the down trendline from the 1356 top it made in July which offers resistance at 1264 for the week.Strong resistance at the red neckline is at 1276 and the previous top at 1292.Having made a higher high at 1158, a move above the 1292 top will bring in the bulls.

Daily Chart

The upmove from 1075 seems to be in a channel with resistance at 1342 and support at 1180. The S&P500 is at a strong resistance area with the 61.8% retracement level at 1258,   the downtrendline at 1265, the green neckline at 1278 and the previous top at 1292 all of which need to be crossed to attract the bulls.




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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 12th December 2011

Nifty Weekly Chart

Friday was a day of volatility as can be seen in the intraday chart below. The result was a long legged doji. This candlestick has long upper and lower shadows with the Doji in the middle of the day's trading range, clearly reflecting the indecision of traders.

The fall which started in November 2010 is more than a year old now and the bears seem to have been hesitant about the downmove till now allowing bulls to win every now and then making the fall slow.The weekly chart above shows an established range between 4639-5400 since more than three months.Sooner or later this range should be broken to give a good move of a minimum of 750 points.

Weekly Chart Showing positive divergence which raises hopes of a bullish breakout.

Ranges are difficult to trade unless you are adept at it.The short term is always difficult to trade and leaves one an emotional wreck.I prefer to make the most of falls and pick my favourites slowly but surely.

Anyone interested in joining me can write to me at vipreetsubscription@gmail.com to subscribe to the picks Nishit Vadhavkar (he blogs at money-manthan.blogspot.com) and I have made. We have a report on Gold too !


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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty & Bank Nifty

Attending to my Mom who sufffered a sudden fall.Hoping she gets well soon and I can get back to the markets soon.

Meanwhile,



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 Lakshmi Ramachandran

www.vipreetsafetrading.com

S&P500 2nd December 2011

Daily Chart

Resisted at the down trendline once again making it a crucial resistance to cross for the uptrend to continue.


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Lakshmi Ramachandran
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Reigning The Nifty 2nd December 2011

 Daily Chart

 A gap up opening reacting at the 50 % fibo retracement of fall from 5399-5369.Support taken at 20 dema.Crucial resistance at 4965 and Support at 4812 on the upward moving channel.


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Lakshmi Ramachandran
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Reigning The Bank Nifty 2nd December 2011

 Daily Chart

Gap up opening.Candle formed with a long bearish upper shadow crossing with a failed breakout from the rising channel. Resistance now at 8931 and support at 8497 on the channel.




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Lakshmi Ramachandran
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S&P500 1st December 2011

 Daily Chart

Bullish candle on good volumes.Resisted at down trendline.A little more effort to cross crucial resistance of 1275 at neckline  and previous top at 1292 needs to be put in by the bulls to get the bears to retreat completely.



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Lakshmi Ramachandran
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Reigning The Nifty 1st December 2011

Daily Chart

Nifty moving in an upward channel.Longs can keep  a stop loss of 4782  or  4757.Crucial resistance at 4930.If crossed then could target 5100.




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Lakshmi Ramachandran
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S&P 500 30th November 2011

 Daily Chart

Shooting star at resistance? This is bearish for the short term uptrend.Resistance at 1205-1215-1233

Supports at 1192-1187-1181-1175


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Lakshmi Ramachandran
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Reigning The Nifty 30th november 2011

 Daily Chart

 A breather in the short term uptrend.Resistance at 4866-4930-4984  Support at 4774-4693



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Lakshmi Ramachandran
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Reigning The Bank Nifty 30th November 2011

 Daily Chart

An outside day pattern occured .It is a bearish signal and could lead to a reversal of the short term uptrend.
Support at 8587-8488  Resistance at 8843-8985.




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Lakshmi Ramachandran
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S&P500 29th November 2011

 Daily Chart

 The inverted hammer's bullishness was confirmed by a huge bullish candle.Was able to draw an upward trending channel which has support at 1160.Till the support line holds attempts to move up will continue.Resistance at 1205-1215-1233.



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Lakshmi Ramachandran
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Reigning The Nifty 29th November 2011

 Daily Chart

So the Inside Day pattern did it's reversal job.The bears though saw to it that the 4854 levels were not closed on a closing basis.Till the 4639 support holds bulls have a chance of taking the Nifty higher to 4930-4984-5019 levels. Daily oscillators too supporting the bulls.Supports at 4805-4775-4750.



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Lakshmi Ramachandran
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Reigning The Bank Nifty 29th November 2011

 Daily Chart

The expanding triangle's leg up gained momentum.Oscillators are showing strength.Resistance  now at 9124-9308.



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Lakshmi Ramachandran
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S&P500 28th November 2011

 Weekly Chart

 Daily Chart

Broken decisively below the all important 1225 level.Taken support at exactly the 61.8% retracement level of the rise from 1075-1292. An inverted hammer at this crucial support on daily charts implies a reversal of the short term downtrend.

Lower targets /supports are at  1075-1052. Resistance at 1190-1210


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Lakshmi Ramachandran
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Reigning The Nifty 28th November 2011

 Weekly Chart

The all important 4650 levels held on a closing basis though marginally broken intra day. So we hang on to  the long term bullishness till it is broken decisively

Daily Chart

An Inside day was formed indicating  indecision as neither the bears nor bulls could move below or above the previous day's range.It is also a reversal pattern at times.Refer to my post of 23rd November wherein I have pointed this out.Watch for direction above or below the previous days high-4771 or low-4639.Only a move above 4854 can bring in a good pullback.

The support line of the falling channel, which now has support at 4522, should be tested before the next leg up . If fails to test then would amount to 'return failure' which in this case is bullish.
 

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Lakshmi Ramachandran
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Reigning The Bank Nfity 28th November 2011

 Weekly Chart

Daily Chart

The crucial 8320-8150 support held for the time being.A higher high higher low on the daily candle seems to kindle a hope that the next leg up of the expanding triangle seems to have started.Daily oscillators supporting.Weekly oscillators opposing. Trade with stops as the Bank Nifty may be at crossroads.


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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 25th November 2011

 Daily Chart

Almost at 1158 support ! Markets seeming just too predictable.i am sure we are in for a surprise pullback today !

Resistance 1192



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Lakshmi Ramachandran
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Reigning The Nifty 25th November 2011

 Daily Chart

Gave a positive feeling in the last hour of trade with a fantastic 100 point recovery from the low then at 4668 to 4771 ! The daily candle though failed to make even a higher high and higher low keeping the bias negative.The Nifty is at crossroads with the bulls acitvely guarding the 4650 levels and the bears trying their best to break below it.

A pullback is overdue with the stochastics and Rsi14 in oversold territory and the Rsi14 showing positive divergence.Logically, the lower end of the falling channel should be tested before the next leg up. If fails to test then would amount to 'return failure' which in this case is bullish.



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Lakshmi Ramachandran
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Reigning The Bank Nifty 25th November 2011

 Daily Chart

An Inside day pattern was formed.This is a pattern indicating indecision and immediate direction will be on the side of the break out of the previous candles high or low which is at 8556-8240.




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Lakshmi Ramachandran
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