S&P500 29th June 2012

 Daily Chart

 

Taken support well.Only tomorrow's action will tell us whether the candle was a hammer at support or a hanging man in continuation with the downtrend.Inability to move above 1335 will be bearish.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 29th June 2012

Daily Chart

Lack lustre trading  resisting once again at the redrawn down trendline from 5629.Resistance now at 5145.Oscillators though showing waning momentum.
Trend deciders placed at 5202-5082.

Daily Chart 

Half Hourly Chart

Descending triangle  support at 5094 and resistance at 5152-5142 for the day. Support on uptrendline from 4770 at 5138-5155 for the day.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 29th June 2012

 Daily Chart

 Resisted once again at the redrawn down trendline from 11226.Resistance now at 10078.Pennant formation shown yesterday was broken down thus invalidated.The upward moving channel comes into fore.
Today's spinning top was on very high volumes with a negative close thus making the OBV dip down sharply.This is a negative but it would be prudent to wait for some more signals before starting to get bearish.
Oscillators too showing weakness.

Half Hourly Chart

Half hourly charts shows the inverse head and shoulder pattern still valid.The red triangle formed by this week's action shows indecision and the tug of war result unpredictable.Trade light till the direction is more clear

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Lakshmi Ramachandran
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S&P500 28th June 2012

Daily Chart

 Daily Chart

Redrawn the uptrendline from 1266 forming a bear flag with support at 1316.Bear flags should break down thus watch  support at 1316 keenly.The megaphone pattern too requires one more point to be touched on the support line increasing the probability of a move down.

.Resistance at 1354 may be difficult to cross.

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Lakshmi Ramachandran
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Reigning The Nifty 28th June 2012

Daily Chart

Resisted once again at the redrawn down trendline from 5629.Resistance now at 5153.
20/50 dema has once again given a golden cross which is a positive.Oscillators though showing waning momentum.
Trend deciders placed at 5204-5076.


Daily Chart

Unlike the Bank Nifty, the Nifty is failing to show bullish patterns.In fact a descending triangle seems to be forming with support at 5094 and resistance at 5155-5140 for the day.This is a bearish pattern so holding 5094 is crucial.

Half Hourly Chart

 Or maybe we could consider the red triangle shown below to be an ascending triangle.In any case a break above 5195-5200  is necessary to bring in upward momentum.

Half Hourly Chart

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Lakshmi Ramachandran
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Reigning The Bank Nifty 28th June 2012

 Daily Chart

Resisted once again at the redrawn down trendline from 11226.Resistance now at 10095.Pennant formation spotted, shown in red in the hcart below.This is a continuation pattern so possibility of breaking out on the upside is more.
20/50 dema has once again given a golden cross which is a positive.OBV supporting an upmove too.Oscillators though showing waning momentum.

Daily Chart

The bearish head and shoulder pattern shown yesterday seems to be invalidated.The fall from the rising wedge too is not happening.Watch out for a breakout from the red neckline of the inverted head and shoulder pattern with breakout point at 10224.Support at 9933-9970.

Half Hourly Chart

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Lakshmi Ramachandran
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S&P500 27th June 2012

 Daily Chart

A pause in the fall.The chart below shows a falling megaphone pattern where the rallies are getting bigger.Such a pattern normally has bullish implications and should breakout on the upside after making a third touch of the support line.This would be in line with reaching the rising wedge target shown above.

Fyi, 

The descending megaphone is a rare formation can be recognized by the successively higher highs and lower lows, which form after a downward move. Usually, two higher highs between three lower lows form the pattern, which is completed when prices break above the second higher high and do not fall below it.

The pattern is completed when, usually on the third upswing within the pattern, prices break above the prior high but fail to fall below this level again.

For a more detailed study check out my post on www.trend-wise.com  at this link http://www.trend-wise.com/2012/06/chart-watch-s-500.html

Daily Chart

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Lakshmi Ramachandran
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Reigning The Nifty 27th June 2012

 Daily Chart

Daily Chart

Half Hourly Chart

Not much change in the technicals what with a sideways movement ! The half hourly charts though show a bearish head and shoulder pattern with the neckline at 5094 break of which will have a target of  4994. 4995-4980 are good support too which is marked on the chart.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 27th June 2012

Daily Chart

 Daily Chart

Half Hourly Chart

 An inverted head and shoulder pattern could be forming with neckline around 10200.Scaling 10224 would be required to confirm it.A bearish  head and shoulder patterntoo formed with neckline at around 9905-9917. Break would give a 300 point down move. Have to see whether bears or bulls win this tug of war.

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Lakshmi Ramachandran
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S&P500 26th June 2012

 Daily Chart

 The fall resumed today as anticipated.The rising wedge target is 1245.Strong support at 1304-1307.



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Lakshmi Ramachandran
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Reigning The Nifty 26th June 2012

 Daily Chart

Resisted once again at the blue uptrendline but managed to hold above the red dotted downtrendline.Support at 5136 important level for bulls. Fall below 5040 will make a short term lower low and may lead to a faster fall.As shown below trade above 5170 is proving difficult.

Oscillators showing signs of tiring out.

Daily Chart

Half Hourly Chart

Close below the redrawn support line of the rising wedge.Crucial supports at 5094-5042

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Lakshmi Ramachandran
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Reigning The Bank Nifty 26th June 2012

 Daily Chart

Resisted once again at the blue uptrendline but managed to hold above the red dotted downtrendline.Support at 9859-9845 important as shown in chart below. Fall below 9619 will make a short term lower low and may lead to a faster fall.

Oscillators showing signs of tiring out.

Daily Chart

 Half Hourly Chart

 An inverted head and shoulder pattern could be forming with neckline around 10200.Scaling 10224 would be required to confirm it.

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Lakshmi Ramachandran
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S&P500 25th June 2012

 Weekly Chart

This week's candle is a long legged doji.

 It clearly indicates that the bulls and the bears are at an equilibrium, a state of indecision. The Doji, appearing at the end of an extended trend, has significant implications. The trend may be ending. 

Redrawn the falling wedge which has resistance at 1356.If  the resistance is respected then the short term uptrend may have ended and the next leg down may have started. 

Stochastics shows more room on the upside and the Macd is positive too. Rsi14 though shows signs of topping.

Daily Chart

 An Inside day pattern occured which shows indecision.The candle could not even penetrate through the

50 % level of the long bearish candle of the previous day showing it may have been just a dead cat bounce. Strong support at the 1315 level.

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Lakshmi Ramachandran
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Reigning The Nifty 25th June 2012

 Weekly Chart

The positives about the week's move was that selling was aborted after taking support at the downtrendline from 5629. The long lower shadow shows buying at support.The higher high higher low was maintained too.
The negatives -- The resistance around the 100 dema and the 50 % retracement level of fall from 5629 to 4770, forming a small black  body making the candle resemble a hanging man is bearish.Close was below the 40 and 100 dema.
Oscillators support some more upside.Trade above 5000 will be bullish.

Weekly Chart

Daily Chart

An Inside day pattern on daily charts.( Read about Inside Day here -- http://vipreetinvestments.blogspot.com/2009/03/inside-day.html  ). The trade is to be taken on the break of the range of day one- that is 21st June , whether upside or down. For the nifty the levels for thursday are at 5170 on upside and 5093 on the downside. So wait for the breakout to occur and trade accordingly.
Have redrawn the rising wedge support linewhich has support now at 5114.The 200 dema stands at 5147 and only a decisive close above this will bring in more bulls.Oscillators are in neutral zone and have moved sideways in line with the Nifty thus not offering much insight into the future.The chart below will be helpful to decide action for Monday.



 Daily Chart

 Half Hourly Chart

Above chart shows supports at 5103-5125 for the day and chart below shows the need to cross the strong resistance of 5190-5195 for further upmove.

Half Hourly Chart

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Lakshmi Ramachandran
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Reigning The Bank Nifty 25th June 2012

 Weekly Chart

A hanging man after a doji is bearish. The Bank Nifty is in a short term uptrend , the real body in the upper part of the day's range, a long lower shadow, and little to no upper shadow , all characteristics adhered to. The Hanging Man formation indicates trend exhaustion, and suggests a bearish reversal.Rsi14 is showing waning momentum too.
The Bank Nifty is in an upward moving channel with crucial support at 9257.


Weekly Chart

Daily Chart

Daily charts show the next leg up progressing within the upward trendling channel.20 and 50 dema are once again in a golden cross.Oscillators show possibility of more upsides.Resistance and supports marked on charts.

Daily Chart

Half Hourly Chart

Strong supports at 9874-9764-9619   Resistance at 10133-10224

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Lakshmi Ramachandran
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S&P500 22nd June 2012

Daily Chart

 Bearish candle after the resistance faced at 61.8% retracement level of fall from 1422.The uptrendline for the rally has been broken decisively and has already retraced 38.2%. 200 dema and the 50% fibo level coincide at 1315 to offer strong support.If does not hold the rall will be in danger.

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Lakshmi Ramachandran
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Reigning The Nifty 22nd June 2012

Daily Chart

The first hurdle of the 200 dema was crossed.The upmove remains intact till 5050 holds.
Resistance and supports marked on charts.

Half Hourly Chart

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Lakshmi Ramachandran
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Reigning The Bank Nifty 22nd June 2012

 Daily Chart

 Nice move forming the next leg up in the upward moving channel and towards the cup and handle target of 10133 mentioned yesterday.

Resistances marked on charts.


Half Hourly Chart

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Lakshmi Ramachandran
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S&P500 21st June 2012

 Daily Chart

 Crucial resistance at 1363 respected for the second day.Stops on longs at 1343.

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Lakshmi Ramachandran
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Reigning The Nifty 21st June 2012

Daily Chart

200 dema proving strong resistance now at 5147.Doji and inability to break out from the bearish engulfing candle's range shows indecision.Redrawn the rising wedge to get more clarity.Daily oscillators supporting a fall.The green neckline shown on half hourly charts proving strong support at 5035-5040 for tomorrow.

200 dema at 5147 remains the first hurdle which needs to be crossed for the upmove to resume.Else the bearish target of the rising wedge is achievable.

Half Hourly Chart

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Lakshmi Ramachandran
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