S&P500 31st January 2013

Daily Chart 

The bears got the better of the bulls yesterday and may be successful in pulling the S&P lower.Resistance at 1510-1520  and Support at 1498-1489.

 

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 30th January 2013

Daily Chart 

 Will it wont it - reverse ? It's been a painful wait for the bears and a scary time for the bulls.S&P continues the tease.Resistance at 1515.90 and support at 1503.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 29th January 2012

Daily Chart 

 Resisted at the resistance line of the channel. Resistance now at 1505-1513 and support at 1499-1489.





follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 28th january 2013

 Weekly Chart

Daily Chart 

Charts are bullish and trendline study has room upto 1518. 2007 top of 1576 fast approaching.Use hedges will be worthwhile paying for insurance of your longs.

follow me on twitter http://twitter.com/#!/lucksr


Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 25th January 2013

Daily Chart

 An Outside day pattern and a spinning top. Both implying indecisiveness and a probable reversal.The high and low at 1502 & 1489 will be the short term trend deciders.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 24th January 2012

Daily Chart 

The red channel resistance line acting  to limit the rise perfectly.If continues to do so we will see the S&P500 resist at 1499 today.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 24th January 2013

Daily Chart

Daily Chart II

Half Hourly Chart

Nifty formed a doji which made a lower high lower low keeping the bias down.The Outside day pattern made yesterday resolved to the downside making it more probable the downmove could continue.The uptrendline from 5941 was violated but Nifty took support at the 50% fibonacci level of the rise from 5941 to 6101 and bounced back to retrace 55% of the fall from 6101 to 6021.

 Support was taken at the uptrendline from 5548 as can be seen on Daily Chart II.Support for tomorrow is at 6040.On half hourly charts Nifty is still to make a new low below
5989. Till that happens the bulls can make a comeback.

Resistance now is at 61.8% at 6070 which was also today's high and the 76.8% at 6082. Only a cross and close above these levels will give strength to continue the upmove.

Nifty is at the crossroads and whipsaws will wipe out all profits earned in the bull run from December 2011.Trades have to be nimble and done with expertise.It is prudent to stay on the sidelines and wait for clarity.

Resistance will be at  6070-6082-6101  and Supports at 6040-6021-5988.

For paid subscription to my Newsletter please write to vipreetsafetrading@gmail.com

Happy Trading !!
   
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 24th January 2013

Daily Chart

Half Hourly Chart

Bank Nifty made a doji signalling indecision still prevails.The long lower shadow shows bulls still active at lows.Support was taken exactly on the uptrendline from 9814 as can be seen on the daily chart.Close was above the 20 Ema.The  12572 peak support was broken  intraday but the close was managed above it.

Till the low of 12197 is held bulls will keep making comebacks.Stochastics has turned up from oversold levels indicating the upmove started from 12509 today could continue.Rsi14 too has given an uptick above the 50 level showing weakness has not taken over.

For tomorrow immediate resistance is at 12699 and support at 12559.The half hourly charts though show a lower high lower low formation.The green falling wedge if broken upwards can bring some relief to the bulls.Almost 40% was retraced  of  the fall from 12908 to 12509. The 50 and 61.8%  fibonacci retracement levels come at 12710-12755.

Bank Nifty is on the crossroads. One should be ready for whipsaws if one is ready  to venture a trade.Staying on the sidelines till more clarity is seen would be prudent.

For paid subscriptions please write to my Newsletter vipreetsafetrading@gmail.com

Happy Trading !!
   
Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 23rd January 2012

Daily Chart

 Bullish candles after the breakout from 1475 highs makes a target of 1525 achievable. Resistance now at 1497

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Too Many Rising Wedges

 Nifty has been forming rising wedges continuously making the rise more precarious by the day. Rising wedges are bearish patterns. The loss of upside momentum on each successive high gives the pattern its bearish bias. 

The trend remains inherently bullish due to the series of higher highs and higher lows.Prices move higher while the trading range narrows making the rise slant precarious for a fall. The final break of support will indicate that the forces of supply have finally won out and lower prices are likely. The latest wedge has resistance around 6110 and support at 6092 end of day.

For a holistic view on the Nifty and Bank Nifty subscribe to my daily newsletter .Write to vipreetsafetrading@gmail.com

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran

www.vipreetsafetrading.com

S&P500 22nd January 2012

Weekly Chart 

 

Daily Chart

The S&P500 is in an uptrend and has crossed all resistances.The best way to play now is to keep trailing stops and book profits on the way up.Trendline resistance is at 1494 on daily charts and 1575 on weekly charts.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 18th January 2012

Daily Chart 

Daily Chart II

 1475 highs taken out and rising wedge negated.This is bullish. Have tried to work out resistances by drawing trendlines.So resistances are at 1492-1512.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 17th January 2012

Daily Chart

 A rising wedge has formed in the last few days which is  a topping out pattern.Break above 1477 should negate this possibility.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 16th January 2012

Daily Chart 

 So are these long lower shadows of the last three days showing buying at lower levels and therefore bullish? Difficult to say but since the trend is bullish we need to assume that there is buying everytime prices are being pushed lower. But then renewed buying at those highs is also necessary to push prices higher.

The Outside day pattern formed on daily charts may give the solution.Watch for the break of the high 1473.31 and the low 1463.76 of the pattern which should set the short term direction.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 15th January 2012

Daily Chart

A second hanging man with a lower high and low shows weakness seeping in.Bulls need to show their strength soon else the bears seem to be closing in.

 

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 14th January 2012

Weekly Chart 

Daily Chart 

 A pause before attempting higher levels or is the hanging man on both the weekly and daily signalling a fall ?  Confirmation by further action is awaited.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Happy Pongal & Sankranti

 
 
follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty - The Broader Picture

Weekly Chart

 

The Nifty has been a little indecisive of late leading to a lot of whipsaws.This is bound to happen after a strong upmove.It is a gruelling time wondering what the Nifty will do next and this is something no one can predict.So we trust the broader trend by looking at the broader picture.

The weekly charts best depict the broad picture. My earlier post on the broader picture can be read here http://vipreetinvestments.blogspot.in/search?q=broader+picture . 

So as is visible from the chart the trend is UP.The uptrendline from 2009 lows is intact.The 40 Ema which is the equivalent of the 200 Ema on daily charts is trending up and the uptrendline from June 2012 lows is intact.Till these indicate bullishness one can be invested.Only a violation of any of these supports will put the uptrend in danger.

Shock absorbers for the short term is placed areound the 5800 levels, for the medium term at 5550 and long term at 5315.To get a daily and weekly update on the Nifty and Bank Nifty you may subscribe to my Newsletter by writing to vipreetsafetrading@gmail.com

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 11th January 2012

Daily Chart 

The S&P500 broke the neckline in a hurry leving the right shoulder badly formed.Nevertheless it is a breakout and good one at that.Once resistances at 1474-1481 is surpassed 1500-1540 will be the target.

 

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 10th January 2012

Daily Chart 

Daily Chart

 

S&P 500 is forming a flag within the uptrending channel.As mentioned in earlier posts it could also be the right shoulder of an Inverse head and shoulder bullish pattern as shown in the first chart.In both cases the charts are bullish and indicate an upward breakout. 

Buy on dips !

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 9th January 2012

Daily Chart 

We assume the right shoulder to be forming and adopt a buy on dips strategy.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 8th January 2012

Daily Chart 

Consolidation on.The green trendline from 1471 could be the neckline of a bullish Inverse head and shoulder pattern with the right shoulder in formation.Break of the neckline would be extremely bullish for the S&P500.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 8th January 2013

Daily Chart

Half Hourly Chart

Nifty made a new high at 6042 but soon melted and made a lower low of 5977 to form a bearish engulfing candle pattern.It was also an Outside Day pattern both signalling a possible reversal.The consecutive hanging man pattern had given enough warning to the bulls.

Half hourly chart shows a break down from the red rising wedge.Gaps made on the way up will now serve as support.Fibonacci supports for the last leg up from 5823 are marked. The  5965-5958-5951 should be strong support  for the Nifty.

Till these supports hold the uptrend is intact.Further action should tell us whether a medium term reversal has started.

For subscriptions to the Newsletter write to vipreetsafetrading@gmail.com

Happy Trading !!
   
Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 7th January 2012

Weekly Chart 

 Weekly charts have turned bullish with the huge bullish candle making the highest close since the 2008 fall.Resistance at 1474-1511.

Daily Chart

 Daily charts too have resistance at 1474 to be cleared for a breakout to occur.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty

Weekly Chart 

 Bulls reign in the Nifty as can be seen with the  bullish weekly candle after dilly dallying for  four nervous weeks.Till the red uptrendline for this rally from 4770 is held upmoves to 6181-6357.

 For more detailed daily analysis of the Nifty and Bank Nifty subscribe to my newsletter by writing to vipreetsafetrading@gmail.com

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P 500 4th January 2012

Daily Chart 

A pause after two extremely bullish days. A higher high -1465- higher low - 1398- formation keeps the trend up.So buy on dips till  this formation is broken.In other words till 1398 is broken.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P 500 3rd January 2013

Daily Chart 

Bulls have gathered enough steam to make a new high above 1475.

 

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 2nd January 2012

Daily Chart 

 The huge white candle made an Outside Day pattern which calls for a reversal of the trend.The bullish candle made yeterday and the breakout from the green flag supports the view. Resistance from the black uptrendline and blue downtrendline at 1435 & 1442 need to be successfully negotiated to regain bullishness.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 28th December 2012

Daily Chart

A long lower shadow candle was made with a close below yesterday's low.The bias therefore remains down and the  long lower shadow should be short covering more than genuine buying.A close above 1430 is required to show bulls are still in the game.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Happy New Year !

   We at  Vipreet's  bring you a long term view of the Indices we follow while wishing  our  readers a very Happy and Prosperous New Year.

Nifty Yearly Chart

 Nifty is definitely bullish for the long term. The action since the 2008 fall is a clear consolidation.A maximum fall upto 3665 will be tolerated by bulls who would be more than happy to get such an oppurtunity to get in.Yes, you understood right.It is a buy on dips startegy that will benefit but only for the ones who are patient enough to wait for those dips and then more patient for it to grow to make you money.

 Bank Nifty Yearly Chart

Bank Nifty is very bullish having made an  all time high close.A definite buy on dips strategy to be adopted.

 We come out with a Daily and Weekly Newsletter.You may write to vipreetsafetrading@gmail.com for subscribing.

follow me on twitter http://twitter.com/#!/lucksr

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com