S&P500 31st January 2012

 Daily Chart

 Broken out of the red rising wedge giving a target of 1190.Oscillators supporting a fall.


 
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Lakshmi Ramachandran
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Reigning The Nifty 31st January 2012

 Daily Chart

 The hanging man's bearishness was confirmed with a huge bearish candle which gapped down on open and made no attempts to cover the gap.The green neckline and the blue downtrendline  proved stiff resistance.Close below the 200 dema as well as 5 dema.Channel support at 4959, 20 dema at 4965 and 50 dema at 4913 will offer support.Gap made at 5165-5204 will be stiff resistance and till that is overcome the trend will be down.

Daily Chart

Nifty has respected crucial resistances and that is the point to be noted in deciding whether the trend is up or still down.The daily chart below is a reminder of the broadening top.The Nifty has closed below the peak of 5099 it had scaled showing a false breakout.

Look for selling oppurtunities on a rise till the high of 5217 and the downtrendline is not taken out decisively.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 31st January 2012

Daily Chart

The Outside day reversal pattern did it's job and the Bank Nifty made a bearish candle with a gap down open which was left uncovered.This is bearish and till the gap remains the trend would be down.The breakout above the 200 dema was false and the 5 dema has once again crossed bearishly with the 200 dema.A potential double top may have been formed .

Till the top of 10080 is not taken out the Bank Nifty will trend down.

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Lakshmi Ramachandran
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Reigning The Nifty 30th January 2012

 Weekly Chart

Daily Chart

Daily charts show vulnerability to a correction whereas the weekly charts look strong  from the short term.Hedge longs till the overbought status is corrected.


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Lakshmi Ramachandran
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Reigning The Bank Nifty 30th January 2012

 Weekly Chart

 Daily Chart

The Bank Nifty is at crossroads.The medium term downtrend is on the verge of reversing.The short term uptrend on the other hand is very mature and asking for a reversal.It is difficult to predict whether the bulls take advantage and reverse the downtrend or give in to the bears to resume the downtrend.Hedge your longs with sold calls and wait to see who whether the bulls win or the bears





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Lakshmi Ramachandran
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S&P500 27th January 2012

 Daily Chart

A down day which kept with the higher high higher low of the uptrend.The rising wedge has support at 1318 and reistance at 1334 which is also the high made yesterday.Oscillators overbought and moving down from overbought region.The S&P500 is vulnerable to a correction.



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Lakshmi Ramachandran
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Reigning The Nifty 27th January 2012

 Daily Chart

A small bodied candle.This could be an indication of upward momentum waning.At stiff resistances like the 200 dema more strength and conviction needs to be shown to get the sideliners to join in.Intraday charts are showing negative divergence on oscillators.

However daily oscillators showing strength having scaled it's peaks made in April 2011 and breaking above the downtrendline from November 2011 highs.The Nifty has closed above it's 200 dema.The 20 and 50 dema continue to move up after giving the golden cross. 

Tighten stops at 5050 instead of booking out on longs.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 27th January 2012

 Daily Chart

 

A small bodied candle indicating waning of upward momentum.200 dema crossed decisively, 20/50 dema given the golden cross.Bullish indications pending is the scaling of previous peak at 10080 and the downtrendline at 10130.Daily oscillators showing strength.

Trend is up and showing strength.Use trailing stops instead of booking profits.

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Lakshmi Ramachandran
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S&P500 26th January 2012

 Daily Chart

 Closed well above the downtrendline from 1371.This is bullish.Keep your longs with trailing stops.



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Lakshmi Ramachandran
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S&P500 25th January 2012

Daily Chart

A hanging man once again registering a lower high and lower low indicating bearishness is creeping in.Stop loss for longs at 1278.



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Lakshmi Ramachandran
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Reigning The Nifty 25th January 2012

 Daily Chart

Bullish candle breaking resistance of previous peak and downtrendline from 5399 easily.The 200 dema however could not be conquered on a closing basis.Strong resistances at the green neckline at 5225 and at the downtrendline at 5250.Stochastics and Rsi14 are in the overbought zone making the Nifty vulnerable to a correction.


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Lakshmi Ramachandran
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Reigning The Bank Nifty 25th January 2012

 Daily Chart

The bank nifty is exuding bullishness.Crossed the 200 dema easily and closed above it.Have redrawn the downtrendline from November 2010 highs to encompass all peaks.Resistance is now at 10080-10172-10208. But today's candle has formed an outside day pattern which could be indicating a reversal. If it occurs after a big move, which the Bank Nifty has,it is often taken as a signal that momentum is waning for that move.The larger the range and higher the volume, the more significant is the pattern.Volumes on the Bank Nifty today was very high and range too was  large.With the oscillators in overbought position one needs to be careful on longs





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Lakshmi Ramachandran
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S&P500 24th January 2012

 Daily Chart

A doji after a hanging man. Both candles indicating a possible reversal of trend.Stochastics has given a sell in the overbought region. Tighten stops on longs.



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Lakshmi Ramachandran
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Reigning The Nifty 24th January 2012

 Daily Chart

 An Inside day pattern formed with a gap down opening which was filled up intraday but failed to rise above Friday's high of 5064.The pattern appearing after a good rise is ominous as it shows hesitant bulls to carry the rise further.The area that Nifty is trading in is full of resistances at 5064-5091-5099-5113  and the 200 dema at 5130.Till this area is scaled decisively the mantra is "caution on longs".



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Lakshmi Ramachandran
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Reigning The Bank Nifty 24th January 2012

 Daily Chart

 A shooting star was formed at 200 dema resistance.Appearing after a good rise this candle is ominous and could be indicating a reversal.With the oscillators in the overbought region bulls could be really vulnerable and may give in to the bears easily.Caution on longs.



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Lakshmi Ramachandran
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S&P500 23rd January 2012

Weekly Chart

Did not quite touch the downtrendline from 1371.Resistance now at 1318.Stochastics has reached overbought region calling for caution on longs.Macd in buy, Rsi14  moving up above their midpoint..

  Daily Chart

 Daily charts formed a hanging man at the strong resistance of the downtrendline, though a longer lower shadow would have been more convincing,which is bearish. Resistance is at 1314.OBV has already crossed it's last peak and is moving up with strength.Macd in buy,20 and 50 dema completed the bullish cross and moving up, Rsi14 and stochastics too moving up above their mid point.

Short term trend is up.But the stochastics is overbought on weekly and daily charts calling for caution on longs.



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Lakshmi Ramachandran
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Reigning The Nifty 23rd January 2012

 Weekly Chart

Daily Chart

On weekly charts closed above the uptrendline from October 2008 lows.OBV broken above the downtrendline from November 2010.Strong resistance approaching  at 5182 on downtrendline and the fibonacci cluster resistance at 5071-5227.

On daily charts  a doji candle was formed on Friday indicating indecision.The gap made in the morning at open of the session was covered indicating bears are active.The 200 dema with resistance at 5131 is still falling showing long term bearishness not over.

Short term is bullish but resistances at 5071-5100-5131 may play spoilsport.Booking partial profits on longs to reenter at lower levels may be prudent




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Lakshmi Ramachandran
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Reinging The Bank Nifty 23rd January 2012

 Weekly Chart

 Daily Chart

Three bullish candles in a row, on weekly charts, on increasing volumes.Broke above the minor top of 9273 and the intermediate downtrendline from July 2011 highs.On daily charts, made a hammer at the red trendline at 8922 and made an upmove with two gapup moves.Friday's candle was on above average volumes.The minor peak of 9273 crossed decisively. Oscillators too showing strength.

Short term bullish but will face resistance at at the 200 dema at 9659 and peak of 10080.Partial profit booking on longs would be prudent.


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Lakshmi Ramachandran
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S&P500 20th January 2012

 Daily Chart

The down trendline from 1371 highs proved resistance.Break above it will find resistance at 1347-1356-1371.Support at 1291-1277-1262.



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Lakshmi Ramachandran
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Reigning The Nifty 20th January 2012

 Daily Chart

 Key resistance at 5069-5100 approaching. 200 dema is at 5131. Booking part profits on longs would be prudent.



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Lakshmi Ramachandran
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Reigning The Bank Nifty 20th January 2012

 Daily Chart

Strong resistances at 9206-9242-9273.Part profit booking on longs would be in order.

 

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S&P500 19th January 2012

 Daily Chart

 S&P 500 showing strength.Resistance of 1316 should be crucial as it is on the downtrendline from 1371.



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Lakshmi Ramachandran
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Reigning The Bank Nifty 19th January 2012

Daily Chart

 9200 strong resistance

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Lakshmi Ramachandran
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Reigning The Nifty 19th January 2012

 Daily Chart

 5010 good resistance. If overcome could target 5100 which is the previous peak and coincides with the parellell line drawn to the uptrendline drawn from 4588.




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Lakshmi Ramachandran
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S&P500 18th January 2012

 Daily Chart

A shooting star bearish candle formed at resistance.This is bearish.Negative divergence on stochastics in the overbought regionwarns of a correction.


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Reigning The Nifty 18th January 2012

 Daily Chart

 Gap up opening scaling the rising wedge easily.Rise continuing inspite of the overbought state. All this shows bullishness.5100 the target mentioned in my 23rd December post --  http://vipreetinvestments.blogspot.com/2011/12/reigning-nifty-23rd-december-2011.html   -- is now within reach.Cautiously long is the mantra now as the intermediate trend has not reversed yet

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Lakshmi Ramachandran
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Reigning The Nifty 17th january 2012

Daily Chart

Rising wedge,a lower high lower low candle and an overbought stochastics. All are indications of bearishness.Cautious on longs.




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Lakshmi Ramachandran
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Reigning The bank Nifty 17th January 2012

 Daily Chart

Rising wedge formed which is a bearish pattern.A lower high lower low candle formed which is a hanging man which is once again a bearish candle.Fall back below the downtrendline is once again a bearish sign.Cautious on longs.



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S&P500 17th January, 2012

 Weekly Chart

 The upmove continued in a lacklustre way with the previous top of 1292 proving stiff resistance.Negative divergence seen on the stochastics in the overbought region.This could lead to a pullback.

 Daily Chart

A lower high lower low candle.Negative divergence seen on daily stochastics too.Cautious on longs.


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Lakshmi Ramachandran
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Reigning The Nifty 16th January 2012

Weekly Chart

Good followup bullish candle on good volumes.Oscillators supporting the upmove.The uptrendline from October 2008 lows has proved resistance once again.The lower high lower low formation still intact keeping the trend down, yet

Daily Chart

Rising wedge formed in the recent rally. Three dojis formed in a row showing extreme indecision.Stochastics in overbought region.4930-4965-5100 strong resistance area.Caution on longs.




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Reigning The Bank Nifty 16th January 2012

 Weekly Chart

 Daily Chart

Weekly charts still bearish.Daily charts showing bullish signs in the very short term.Stochastics on the daily charts is overbought so expect a pullback anytime.

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Lakshmi Ramachandran
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Happy Pongal

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Lakshmi Ramachandran
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