Rising Wedges and Classic Retest

Nifty Daily Chart

 Bank Nifty Daily Chart

 Rising wedges like the ones spotted on the Nifty and Bank Nifty commonly occur at tops and are reliable bearish reversal patterns.The bearishness is confirmed further when there is a classic retest of the support line of the wedge.

Thus identifying one early on gives the trader the much required edge to beat the market. Like we did at Vipreet's.

To get the edge and be on the right side of the market subscirbe to the Daily Analysis of Nifty and Bank Nifty.

Write to vipreetsafetrading@gmail.com 

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Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com

Nifty Bulls Backtrack

Weekly Chart

Nifty has broken below the  uptrendline for the recent rally, shown in green, and the previous high of 6229.Break and close below the low of 6079 will be final confirmation that a downtrend may have started.5701- 5513 will be supports.

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Happy Trading !!

Lakshmi Ramachandran 
www.vipreetsafetrading.com

Nifty On The Verge Of A New High ?

Weekly Bank Nifty Chart 

 Bank Nifty managed a higher low higher high opening the possibility of  the upmove continuing.This should help the Nifty make new highs which is on the verge of doing so already.

Nifty Weekly Chart 

Write to vipreetsafetrading@gmail.com for details on subscription to Nifty and Bank Nifty daily analysis.

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

Happy Trading !!

Lakshmi Ramachandran
www.vipreetsafetrading.com