S&P500 30th June 2011

Daily Chart

Followup buying on better than average volumes crossing the minor high of 1298. The OBV though is yet to cross it's corresponding high.Next important resistance to be crossed is 1319-1345 marked on the chart.Supports are at 1301-1297.



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Lakshmi Ramachandran
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Midday Nifty

Half Hourly Chart

Negative divergences on oscillators intact. The uptrendline of the recent upmove has been broken. The rising wedge shown on the chart is broken and gives a target of 5472.The expected pullback mentioned in my post for today may have started.( Read it here http://vipreetinvestments.blogspot.com/2011/06/reigning-nifty-30th-june-2011.html )


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Lakshmi Ramachandran
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Reigning The Nifty 30th June 2011

Daily chart

 Half Hourly Chart

As mentioned in my post Midday Nifty today , (http://vipreetinvestments.blogspot.com/2011/06/midday-nifty_29.html), the  half  hourly charts show a bullish broadening formation with a flat top at 5605. Break above 5605 will be extremely bullish with a target of 6000.The gap up candle today with a close above the 200 dema after yesterday's doji is heartening and shows bull strength indicating the level of 5605 may be crossed.

The key resistance of 5605 though still proves difficult to cross. Half  hourly  oscillators are showing negative divergence.A pullback could be in the offing.

Till the lower high of 5944 is crossed be cautious on longs.

Support at 5566.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 30th june 2011

 Daily Chart

I wrote in my post yesterday, OBV and the oscillators have crossed their tops corresponding with 11056 increasing the possibility of the level being crossed. The 11056 level was crossed at close today setting a target of 11772.

Cautious on longs  till cross of lower high at 11978.

Resistances at 11213-11412-11491. Supports at 11088-10986-10936.




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Lakshmi Ramachandran
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S&P 500 update 29th June, 2011

 Daily Chart

The candle formed is a marubozu which is bullish as it shows a steady advance ending at the high of the day indicating buyers were in complete control. Bullish breakout from the downtrendline drawn from 1345 strengthens the bullishness.

Resistance now at 1300-1303-1320. Support at 1280-1266-1258.

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Lakshmi Ramachandran
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Midday Nifty

 Half hourly Chart

The half hourly charts show a bullish broadening formation with a flat top at 5605. Break above 5605 will be extremely bullish with a target of 6000.

Support at 5496.

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Lakshmi Ramachandran
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Reigning The Nifty 29th June 2011

Daily Chart

Half Hourly Chart

A doji showing indecision which indicates the momentum of the existing trend may be waning. The half hourly chart though shows a breakout from the pennant ( shown in the chart in my Midday post http://vipreetinvestments.blogspot.com/2011/06/midday-nifty_28.html ), indicating the uptrend will continue. The 5605 is key resistance having stalled uptrends twice in the last two attempts.

Till 5593-5605 is crossed decisively sideways to downward movement will continue.Immediate supports are at 5527-5496-5471.


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Lakshmi Ramachandran
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Reigning The Bank Nifty 29th June, 2011

Daily Chart

Doji's are signs of waning momentum due to indecision of further direction and thus a threat to the existing trend, which in the short term is UP. The 11056 top is proving good resistance which needs to be crossed to confirm the double bottom made at 10340 with a target of  11772. Else the downtrend could resume.

OBV and the oscillators have crossed their tops corresponding with 11056 increasing the possibility of the level being crossed.


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Lakshmi Ramachandran
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S&P 500 update 28th June, 2011

 Daily Chart

Flip flop time in a downtrend. The  range between 1258-1298 needs to be broken for some momentum to pick up.



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Lakshmi Ramachandran
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Midday Nifty

 Half Hourly Chart

Intraday Tick Chart

Nifty seems to be consolidating in a pennant with resistance at 5529-5511 and support at 5492-5485.The tick chart shows a cup and handle formation with neckline at 5534.Target will be 5572.Trend is up for the day.

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Lakshmi Ramachandran
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Reigning The Nifty 28th June, 2011

 Daily Chart

Bullish followup candle on good volumes closing above the 50 dema.200 dema resistance at 5577.Earlier peak at 5605.Till  lower low of 5944 is crossed remaining cautious on longs is prudent.Good resistance at 5693 on the downtrendline from 6338 highs.

Half Hourly Chart

Good support at 5514 made intraday. Staying above this support can see bullish bias else may test 5468-5417.Key support 5375 below which expect downtrend to resume.



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Lakshmi Ramachandran
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Reigning The Bank Nifty 28th June, 2010

 Daily Chart

A bullsh follow up candle on good volumes surpassing the 200 dema and closing above it. Double bottom yet to be confirmed as closed below  11056 though it was surpassed intraday.

 Resistance at 11056-11213-11435.Till the lower top of 11978 is scaled remaining cautiously long is prudent.

 Supports at 10897-10774-10705.


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Lakshmi Ramachandran
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S&P500 27th June , 2011

Weekly Chart

Daily Chart

Higher high higher low but a close wee bit below last week's.Caution on friday , "However the fact that the pullback from 1258 was retraced more than 80% alerts one to wait for confirmation signals of the bullishness.Till the downtrendline from 1370 is not taken out chances of the downtrend resuming is high", paid off as a sell off came in once again .

Good support at 1248-1249 -1246.



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Lakshmi Ramachandran
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Midday Nifty

 Half Hourly Chart

 Chart II

On way to 5605 but ripe for a pullback with the intraday oscillators in overbought zone. Support at 5531-5529.




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Lakshmi Ramachandran
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Reigning The Nifty 27th June, 2011

Daily Chart

Daily Chart II

Bullish candle with a gap up opening Breaking above the crucial 5300-5348 levels and above the downtrendline from 5944.The volumes were heavy and breadth positive.This is in confirmation to the bullish pattern as mentioned in my post for the 24th,  (You may read it here http://vipreetinvestments.blogspot.com/2011/06/reigning-nifty-24th-june-2011.html ), and the positive divergences shown on the stochastics and macd as shown in chart II.

The 50 and 200 dema continue to be bearishly aligned alerting bulls to be cautiously long as this could be the pullbacks in the downtrend rather than a trend reversal.

Half Hourly Chart

Half hourly charts confirm the bullishness with a close above the 61.8% retracement level of fall from 5605 to 5196. Resistance now at 5605 - 5860.Support at 5410-5370.



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Lakshmi Ramachandran
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Reigning The Bank Nifty 27th June, 2010

Daily Chart

A bullish candle with a gap up opening on good volumes confirming the outside day pattern's reversal signal as mentioned in my post of 24th. (  http://vipreetinvestments.blogspot.com/2011/06/reigning-bank-nifty-24th-june-2011.html  ). The close was above the 50 dema.The candle also broke above the downtrendline from 11056.This is bullish.
However the 50 and 200 dema are bearishly aligned. Be cautiously bullish.



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Lakshmi Ramachandran
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Reigning The Nifty Weekly Update 26th June, 2011

Weekly Chart

Weekly Chart II

Weekly Charts show a hammer - long lower shadow with a small real body closing at the high with no upper shadow - which is bullish. Volumes were average but much larger than the last two weeks which is heartening as the fall was on lesser volumes than the rise.The close was exactly on the pink trendline from 4675 lows and the close exactly on the blue trendline from 5177. The 100 wema was violated intra week but bounced off it to close well above it.

The 20 and 40 wema continue in sell mode.The trade remained below the uptrendline from March 2009 for the sixth week.Lower high lower low maintained continuing with the negative bias.

Till a higher high higher low candle is formed the bias will remain negative.Chart II shows a potential double bottom at 5177 - 5196.Confirmation on scaling 5944. First confirmation of reversal  on scaling 5604.

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Lakshmi Ramachandran
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Reigning The Bank Nifty Weekly Update 25th June, 2011

Weekly Chart

An "outside day" pattern occured closing at the highest high in the last five weeks.This week's candle also formed a bullish engulfing pattern.This indicates bullishness.Breakout from the downtrendline drawn from high of 11978  adds to the bullishness.The 100 wema which is a  good support during uptrends is still unviolated giving support at 10020 for the coming week.

10432 has held well since January 2011 and should be considered the  trend decider.Uptrendline from low of 10017 has support for the coming week is  exactly at10432.

 A potential double bottom at 10340 awaits the scaling of 11056 for confirmation giving a target of 11772.

Weekly Chart II

Chart II shows the bear flag target of 7725 still valid. 

Bullishness seems to be emerging but till the bear flag pattern is invalidated staying light would be prudent.


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Lakshmi Ramachandran
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S&P 500 update 24th June, 2011

Daily Chart

Once again bounced from 200 dema support forming a hammer which indicates bullishness especially when occurs at key supports.The bounce from the key 200 dema support therefore indicates bullishness.However the fact that the pullback from 1258 was retraced more than 80% alerts one to wait for confirmation signals of the bullishness.Till the downtrendline from 1370 is not taken out chances of the downtrend resuming is high.

Resistance at 1298-1306-1324  Supports at 1262-1258-1233



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Lakshmi Ramachandran
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Midday Nifty

Half Hourly Chart

The outside day's bullish signal mentioned in today's post,
http://vipreetinvestments.blogspot.com/2011/06/reigning-nifty-24th-june-2011.html,  proved itself with a gapup opening which crossed the crusical levels of 5300-5350 with ease.The downtrendline from 5605 is proving good resistance. A decisive breakout will bring in more bullishness to target 5605 once again .

Resistance at 5450.


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Lakshmi Ramachandran
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Reigning The Nifty 24th June, 2011

Daily Chart

An outside day occured. An outside day shows a tug of war between the bulls and bears with the winner being declared by the direction of the close.The bullish candle today shows the bulls have won for the time being. The close was above the 5300  crucial level since the panic selling day on 20th June.
Refer chart for importance of 5300 level
(http://2.bp.blogspot.com/- qy7cwMVoQp4/TejcwHhu0JI/AAAAAAAAETM/ui4ijKDF35M/s1600/wkly+3.png ).  However  the Nifty needs to cross the 5350 level for any bullishness.

Half Hourly Chart

The half hourly chart shows the outside day could be spelling bearishness by depicting an expanding triangle which I already pointed out in "Midday Nifty" today. The neckline at 5321 is proving good resistance too. Till the 5300 - 5350 levels are not crossed decisively upward momentum will not catch up.


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Lakshmi Ramachandran
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Reigning The Bank Nifty 24th June, 2011

Daily Chart

Outside days could be one day reversals showing a tug of war between the bears and the bulls with the winner being declared by the direction of the close. An outside day occured today with a white real body showing the bulls won.Considering the neckline is being held well since the panic selling day , there could be a possibility of an upmove.

The first confirmation would be the breakout from the downtrendline having resistance at 10570.Else I repeat,
Holding or breaking of 10340  to decide the immediate trend.If 10340 holds then 11056 will need to be crosed to confirm the double bottom made at 10340 with a target of  11772. If breaks then the head and shoulder target of 8721 could be achieved.

Daily Chart II

The decending triangle favours the bears

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Lakshmi Ramachandran
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S&P 500 update 23rd June, 2011

Daily Chart

The first reaction to the rally from 1258.The rally  will be strong if bounces from 38.2% fibo level (rise from 1258 to 1298) at 1283 levels. Strong support at 50% level at 1278 which is also the low of 21st June. 61.8% at 1273.
200 dema at 1263. 50 dema resistance at 1307.

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Lakshmi Ramachandran
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Midday Nifty

Half Hourly Chart

An expanding triangle forming which is bearish. The red neckline at 5321 is proving good resistance.Trade above this level required for any rally. Support at 5348-5352.

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Lakshmi Ramachandran
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Reigning The Nifty 23rd June 2011

Daily Chart

An Inside day once again forming a tight coil. Yesterdays high low 5322-5257 will be the trend deciders followed by Mondays high low of 5377-5196.Till the breakout from 5377-5196 happens expect lacklustre trading.

Half Hourly Chart

Half hourly charts show a clear downward bias with the bear flag support line being broken as anticipated. Drawn a trendline from the 5196 low which has support at 5268-5290 for the day.

Daily Chart II 

showing red trendline as requested by sekhar

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Lakshmi Ramachandran
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Reigning The Bank Nifty 23rd June 2011

Daily Chart

An inside day showing indecision. have redrawn the downtrendline from 11056 which will give resistance at 10602 tomorrow.Strength shown by neither bears no bulls. High and low of yesterday 10645-10426 could hold the key for further direction.

Repeat, Holding or breaking of 10340  to decide the immediate trend.If 10340 holds then 11056 will need to be crosed to confirm the double bottom made at 10340 with a target of  11772. If breaks then the head and shoulder target of 8721 could be achieved.


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Lakshmi Ramachandran
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S&P500 22nd June 2011

Daily Chart

Bullish candle on increased volumes providing more confirmation that a short term uptrend may be in place. The bounce from the 200 dema makes it more authentic. Macd is in buy signal nand the stochastics and Rsi14 are moving up showing renewed strength.

Refer to yesterday's chart for the fibo resistance levels  ( http://vipreetinvestments.blogspot.com/2011/06/s-21st-june-2011.html  ). 50 dema resistance at 1308 and downtrendline resistance at 1306.                                    

Supports at 1278-1267-1258.



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Lakshmi Ramachandran
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Midday Nifty

Half Hourly Chart

 Bear flag forming. Break above 5327-5330 will negate this view. 

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Lakshmi Ramachandran
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Reigning The Nifty - 22nd June , 2010

Daily Chart

An Inside day pattern and a doji  formed. Both indicating indecision. trade was well below the 5348 level and all attempts to stay above 5300 failed. This indicates weakness.As per the Inside day pattern the high of 5377 and low of 5196 needs to be taken out to indicate further direction. Till then it will be indecisive trade days. Stochastics and Rsi14 in oversold zone.

Half Hourly Chart

A bear flag seems to be forming which should ultimately break lower. Support at 5269-5285. Resistance at 5326-5330.

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Lakshmi Ramachandran
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Reigning The Bank Nifty - 22nd June, 2011

Daily Chart

Yesterday I wrote " The Inside day pattern mentioned in yesterday's post ,  http://vipreetinvestments.blogspot.com/2011/06/reigning-bank-nifty-20th-june-2011.html, has given a downward breakout indicating the bears may win ".  The bears did win as the bulls could not get control at the highs of 10645 today and the bears pushed prices down to close with a loss of 25 points inspite of registering a higher high and higher low.


Today's trading did not help the crossroads puzzle. So I repeat -- Holding or breaking of 10340  to decide the immediate trend.If 10340 holds then 11056 will need to be crosed to confirm the double bottom made at 10340 with a target of  11772. If breaks then the head and shoulder target of 8721 could be achieved.



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Lakshmi Ramachandran
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S&P500 21st June 2011

 Daily Chart

Daily Chart II

The 200 dema support seems to have held well for the time being keeping the bulls optimistic. 1285 is good resistance as pointed out in chart I and II.Till the 200 dema is not violated and a higher high higher low candle is formed, the trend could be considered up.Supports at 1267-1263-1256.


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Lakshmi Ramachandran
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Midday Nifty

 Half Hourly Chart

Resistance strong at 5320 at the red neckline.A close above 5377 , yesterday's high necessary to get some momentum on the upside.

Reisistance at 5345-5333. Support at 5248.


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Lakshmi Ramachandran
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Reigning The Nifty 21st June, 2010

Daily Chart

The neckline finally broke down on good volumes making the break decisive.The low of 5177 remains to be broken to confirm the bear's win . Achieving the target of 4721 would then be confirmed. Support taken on the red trendline which has been good support earlier.Oscillators are in the oversold zone indicating a  pullback may be due.

Half Hourly Chart

Half hourly charts show the pullback to 5314 intraday could not be sustained.Only a trade above 5314 will bring in some upside momentum.Else Nifty will slide down the path to 4721.

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Lakshmi Ramachandran
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