Bullish Engulfing Pattern

Daily Chart 

 

A bullish engulfing pattern was formed. Is this a bullish or bearish sign?  

Knowing technicals thoroughly would have helped make the right interpretation like we did - It is bearish having occured at highs.It represents the last gasp of the uptrend and could be indicating a reversal.

 This was part of the Daily Newsletter sent to subscribers.Timely analysis can keep you on the right side of the market.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Nifty Through The Crystal Ball

Weekly Chart

I'm not a fortune teller
I won't be bringing news of what tomorrow brings
I'll leave that up to you
I'm not a fortune teller
Don't have a crystal ball
I can't predict the future
Can't see nothing at all

 Luv this song . You can hear to it here http://www.jango.com/music/Maroon+5?l=0

Luckily we have technical analysis for the Nifty which helps us know the probabilities of Nifty's movements in the future.Last week saw a huge fall and the return failure to the resistance line of the rising wedge shows weakness. Read my earlier post on the rising wedge here http://vipreetinvestments.blogspot.in/2013/04/reigning-nifty-possibilities.html 

The fall from November 2010 high of 6338 took 14 months whereas the rise is already 17 months old and has made a lower high 6229 indicating the rise from 4531 is indeed a corrective move.This increases the chance that a top may be near and forming.

 Write to vipreetsafetrading@gmail.com for daily newsletters on Nifty,Bank Nifty, S&P500 and Gold.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 15th May 2013

Daily Chart

 Is the S&P 500 at the top of the roller coaster ride? Be ready for that ' pit in the stomach ' feeling when the fall comes.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 10th May 2013

Daily Chart 

 Resisted at 1635 as pointed out yesterday.Resistance at the resistance line is at 1632.Needs to scale 1632-1635 to move higher.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 9th May 2013

Daily Chart

 Resistance may be faced at 1635-1650

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 8th May 2013

Daily Chart

 Defiant upmove.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 6th May 2013

Weekly Chart 

Momentum waning. Uptrend on borrowed time?

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 3rd May 2013

Daily Chart

 

 Inched up to a higher high and a higher close keeping the uptrend intact.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 1st May 2013

Daily Chart 

 A range between 1539 - 1597 has been formed.If breaks out on either side a 60 point move can be expected.

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com