Reigning The Nifty 29th October 2012

Weekly Chart

Daily Chart

Half Hourly Chart

Range break still anticipated. However the bias was bearish with the Nifty moving down close towards the 5635 support. The 20 day ema which was good support till now has been broken and Nifty closed below it marginally.This has given the bears an upper hand and the chances of breaking the 5635 support is high.Nifty may find support at 5525 which is the  gap area support.

However a break above 5725 will see Nifty testing 5815.

Supports and resistance levels  are marked on charts.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 29th October 2012

Weekly Chart

Daily Chart

Half Hourly Chart

Bank Nifty failed to breakout of the 10245-11745 range.A symmetrical triangle formation which is called a pennant has formed. Pennants are continuation patterns and should ideally break in the direction of the exisitng trend which is UP. However it is wise to be prepared for the worst and downward breakout points have been marked too.The breakout or breakdown should give a 500 point move.

Supports and resistances are marked.

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Lakshmi Ramachandran
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S&P500 29th October 2012

Weekly Chart 

Daily Chart

The weekly  bearish candle proved the previous week's candle to be a shooting star.Having breken the 1422 support decisively, strong support comes at 1396 which is previous support and the 38.2% fibonacci level as marked on the daily chart.

The higher high higher low sequence will be broken only on a break of the 1267 low which is when the uptrend gets endangered. Till then look for oppurtunities to buy on dips.

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Lakshmi Ramachandran
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Reigning The Nifty 26th October 2012

Daily Chart

Half Hourly Chart

Range unresolved.The 50% retracement level seems to be tough resistance and gives a bearish angle.The ascending triangle shown in red gives a bullish angle.Mixed signals as stuck in a range. 

In short a break below 5684 could give a downmove to test 5630 and a break above 5722 an upmove to test 5815.

20 day ema support now at 5667.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 26th October 2012

Daily Chart

Half Hourly Chart

Expiry over and the range which started from September expiry remains un resolved.The diamond formation shown on daily charts in red has broken out on the upside, the latest move in an uptrending channel and the 61.8% retracement level is still held.However,  there seems to be no strength in the breakout and a decisive move from the range is required to set the trend and increase the momentum.

Immediate breakout  levels are 11679 on the upside and 11424 on the downside as marked on daily charts.

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Lakshmi Ramachandran
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Lakshmi Ramachandran
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S&P500 25th October 2012

Daily Chart 

A little pullback which could not sustain and finally gave in to the bears.Macd has moved to the negative zone indicating weakness. 

Resistance now at the 50 dema at 1427 and support at the 200 deam at 1372.Between these two important emas are supports at 1396 and 1383.

 

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Lakshmi Ramachandran
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S&P500 24th October 2012

Daily Chart 

 Just when the charts showed some support, the support gave in and very decisively.Test of 1396-1382 on the cards.

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Lakshmi Ramachandran
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Reigning The Nifty 23rd October 2012

Daily Chart

Half Hourly Chart

Range bound yet without decisive action.The bullish engulfing candle and breakout from the short term downtrendline  on daily charts and a higher low held as shown on Half hourly chart II  raises hopes of an upward breakout from the range.

The 20 day Ema at 5660, shown in blue, has been good support till now.Expect Nifty to break upwards till held. A decisive break below it will be a sign of more weakness to come.

Lookout for trade above those resistance points at 5722-27-30  for bullishness to resume.If fails and trades below 5696  then 5668-5677 will be tested.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 23rd October 2012

Daily Chart

Half Hourly Chart

Bank Nifty traded in the upper part of the 11745-11245 range in which it has been trading since the beginning of the month but failed to give a breakout.The close however was above the tiny range of 11420-11606 made within this broader range of 11745-11245 raising hopes that the break out may be on the upside.The bullish engulfing candle on daily charts support this view.

Weakness only below 11245.

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S&P500 23rd October 2012

Daily Chart 

Yesterday's candle was a hammer at the support line of the flag pattern shown in black.50 day Ema was violated intraday but close managed well above it showing good buying support.The close was also above the 1327 support zone.All bullish symptoms.Expect a move towards resistance line of the flag pattern.

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Lakshmi Ramachandran
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Reigning The Nifty 22nd October 2012

 

 

Weekly Chart

Weekly charts are bullish with a higher high higher low sequence.The breakout from the equilateral triangle has a target of 6300 which seems very much in the horizon.The red trendline has been a strong support and resistance and needs to be crossed to achieve this target.Sideways to mild down action of the last two weeks need to be broken for some direction. 

 

 

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Lakshmi Ramachandran
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Reigning The Bank Nifty 22nd October 2012

Weekly Chart

Weekly charts are bullish with a higher high higher low intact.Also it is above the 100 week ema shown in green.This Ema has been a good indicator of the trend.The latest action is sideways with breakout points at 11745 and 11245.This 500 point range is proving difficult to navigate resulting in whipsaws in the short term.

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Lakshmi Ramachandran
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S&P500 22nd October 2012

Weekly Chart 

Daily Chart 

 Back into the range after breaking down last week and showing promise of some direction even if it was the downward direction.The weekly candle is a shooting star which is a bearish candle.Alternatively, it could be a hammer, a bullish candle, at the strong support of 1429.Sadly we have to wait for today's candle to tell us which one it is.

Oscillators showing waning upward momentum point to a shooting star.

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Lakshmi Ramachandran
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Reigning The Nifty 19th October 2012

 Daily Chart 

Nifty had a bullish breakout from the green flag giving a target of 5864.Volumes increased compared to the last few days.However unlike the Bank Nifty Nifty did not break the range of the last 9 days.5728 remains resistance and till that happens the upmove is suspect.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 19th October 2012

Daily Chart  

Bank Nifty broke out of the 2 week range of 11528-11245 to give a probable range target of 11810.Volumes were higher than the last few days indicating some conviction in the upmove.

 

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S&P500 19th October 2012

Daily Chart 

Breather? Then should hold yesterday's lows and move towards resistance at 1469.If yesterday's candle was a warning of change in sentiment then will  test of 1425 and 20 day Ema.

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Lakshmi Ramachandran
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Reigning The Nifty 18th October 2012

Daily Chart 

Nifty took support at the 5630-5638 area for the fifth time in the last 14 trading sessions making it an important support.If broken the Nifty could test the gap support at 5527-5435 levels.

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Reigning The Bank Nifty 18th October 2012

Daily Chart  

Bank Nifty remained weak to sideways today forming what looks like a bear flag.This is a continuation pattern and the short term downtrend should continue after breaking down from the support line.Levels are marked on charts and the bear flag is shown in green.

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Lakshmi Ramachandran
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S&P500 18th October 2012

Daily Chart 

 Positive moves by the S&P500.Closed above the trendline joining tops since 2011 and the 61.8% retracement of fall from 1475 to 1425 which was mentioned as strong resistance yesterday.Chances of taking out the highs of  1475 is high.

 
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Reigning The Nifty 17th October 2012

Daily Chart 

Nifty stuck between 5729-5636 range for the last few days.The red neckline  was tested again today breaking under it briefly but failed to close below it. The bearish engulfing pattern formed seems to suggest the neckline has a high probability of breaking down soon.The flag redrawn has resistance at 5700 and support at 5600.The stalemate needs to be broken to gain up or down momentum.

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Reigning The Bank Nifty 17th October 2012

Daily Chart  

 Bank Nifty broke out of the flag intraday but soon fell back into it proving bulls not strong enough to get the rally back on track.Redrawn the flag resistance line which has resistance at 11482.If breaks out will attempt to cross the highs at 11745 else will move down towards the target of the rising wedge at 10685.Support at 11245.

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S&P500 17th October 2012

Daily Chart 

 Second straight day of gains. Resisted at the trendline joining tops since 2011 and the 61.8% retracement of fall from 1475 to 1425.If crosses successfully the highs have a good chance of being taken out

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Reigning The Nifty 16th October 2012

Daily Chart  

 A lower high lower low candle with a long lower shadow giving mixed signals. Volumes were very low indicating market participants are waiting for a clearer picture to emerge.This can happen only when the high of 5815 or low of 5637 is taken out to show further direction.

The rising wedge is still valid and so is the flag which is forming.Resistance and support on the flag is shown to alert possible consolidation within it.If breaks out above it then the high of 5815 may be taken out and if breaks below it the rising wedge target may be achieved.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 16th October 2012

Daily Chart 

 A lower high lower low candle with a long lower shadow giving mixed signals. Volumes were very low indicating market participants are waiting for a clearer picture to emerge.This can happen only when the high of 11745 or low of 11245 is taken out to show further direction.

The rising wedge is still valid and so is the flag which is forming.Resistance and support on the flag is shown. If breaks out above it then the high of 11745 may be taken out and if breaks below it the rising wedge target may be achieved.

 
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S&P500 16th October 2012

Daily Chart 

Consolidation continues.Support taken well at the 50 day Ema. Holding support here will find resistance at 1454 and breaking it would find support at 1395

 

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Lakshmi Ramachandran
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Top Ten to be Unveiled Tomorrow

 The Top Ten Picks will be launched on the 16th of Ocotber 2012.Please contact us at vipreetsubscription@gmail.com at the earliest to avoid missing out !

Refer to my post  http://vipreetinvestments.blogspot.in/2012/10/wanna-shop-with-me-part-ii_3.html  to know more of how we fared.

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Reigning The Nifty 15th October 2012

Weekly Chart 

 

Daily Chart 

 

Half Hourly Chart 

Nifty is at strong resistance at 5690-5700 levels as shown by the red line on weekly charts.The breakout  to 5815 proved false and the Nifty has fallen below the red line again. The blue uptrending channel has support at 5438 for the week.5638 was tested once again and should be the levels to watch. In case it breaks the swing low of 5535 should be good support.

The rising wedge on daily charts is intact and a break of the 5638 support will see the Nifty move towards the target of 5100.Gap support at 5527-5435 should prove good support and prevent the Nifty from such a steep fall.

A head and shoulder bearish pattern may be forming with neckline at 5638 showing the importance of this level being held. If breaks could fall upto 5461.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 15th October 2012

 Weekly Chart

 

Daily Chart  

 

 Half Hourly Chart 

The breakout above the 11451 peak proved false with the Bank Nifty dipping and closing below it making a lower high lower low candle..The move towards the rising wedge target of 10700 is intact.A lower high at 11527 is in place and if the low of 11245 is broken a lower low would be made giving a Dow sell signal.

If broken supports come at the gap of  10797-10643

On the other hand a bullish flag is formed with breakout at 11490.This is a continuation pattern and the Bank Nifty should resume the upmove if broken on the upside. Only a breakout above the high made at 11745 will confirm resumption of uptrend.

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Lakshmi Ramachandran
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S&P500 15th October 2012

Weekly Chart 

Daily Chart

 The 1430 level was broken giving a target of 1388 for the double top made at 1474-1471.Strong supports marked on weekly and daily charts.

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Top Ten

 The Top Ten Picks will be launched on the 16th of Ocotber 2012.Please contact us at vipreetsubscription@gmail.com at the earliest to avoid missing out !

Refer to my post  http://vipreetinvestments.blogspot.in/2012/10/wanna-shop-with-me-part-ii_3.html  to know more of how we fared.

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Reigning The Nifty 12th October 2012

Daily Chart 

 Half Hourly Chart

Nifty did a U turn from the 5638 support.The previous peak made in February 2012 was at 5630 making it an important level to hold for the bulls.Nifty needs to cross the resistance at 5749 to avoid this.If fails the right shoulder of the bearish head and shoulder pattern could form putting the neckline at 5638 in danger of being broken.

The levels if breached could lead to a fall of around 177 points leading to a test of the gap area at 5435.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 12th October 2012

Daily Chart 

Half Hourly Chart

Bank Nifty broke above the red neckline of the bearish head and shoulder pattern shown on half hourly charts.This is a bullish sign.An Outside Day pattern was also formed which could be pointing to a reversal.The high of this pattern at 11477 needs to be taken out decisively to confirm this.Only a close above the recent high of 11745 will the uptrend resume

The breakout from the flag - a continuation pattern - on half hourly charts promises more upsides.

Resistance at 11496-11513-11556.

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Lakshmi Ramachandran
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S&P500 12th October 2012

Daily Chart 

 A gravestone doji at support may be signalling a reversal.The fact that bulls could take the prices higher during a downtrend shows buying support at the support level.The reversal however needs confirmation.Watch for  a strong follow up day today with solid volume. 

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S&P500 11th October 2012

Daily Chart 

Taken support at the 1430 levels.This area is strong support with the uptrendline and 55 Ema also offering support at the 1427 and 1425 levels respectively. A bounce is due and with strong support area approaching we may get one.

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Lakshmi Ramachandran
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Reigning The Nifty 11th October 2012

Daily Chart  

 

Half Hourly Chart 

The Inside Day proved to be a pause and was broken on the down side paving the path for more downsides. The gap made today 5705-5686 was only partially filled and will now be strong resistance.

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Lakshmi Ramachandran
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