9955 Levels A Strength Test For Nifty Bulls

Daily Chart 

 

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Lakshmi Ramachandran

Reigning The Nifty An Update

Half Hourly Chart 

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Lakshmi Ramachandran

Reigning The Nifty an Update

Daily Chart 

 Stiff resistance around 10700 to 10858 needs to be overcome to avoid meltdown on break of 

neckline at 9951-10000.


Half Hourly Chart

 

Negative divergence on half hourly charts.This may lead to a fall or just sideways move.But moving up may prove difficult.

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Lakshmi Ramachandran

Positive Divergence At Strong Support Level

Daily Chart  

 

Daily Chart 

 

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 Lakshmi Ramachandran

Reigning The Nifty 12th October 2018

Half Hourly Chart 

  

Half Hourly Chart 

Feels like looking through a microscope for signs of a reversal. Saw Positive divergences and a higher high higher low which could be signalling a pullback finally.

Half Hourly Chart

 

Looks like 38.2% level which coincides with the gap resistance could be  the barrier.

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Lakshmi Ramachandran

A pullback in a downmove

Monthly Chart 

 Daily Chart 

Daily Chart

Half Hourly Chart 

With the Nifty having almost completed the head and shoulder pattern target,  with positive divergences on the oscillators appearing and strong support of the 200 day Ema and channel closeby , a short term pullback, within a long term bearish scenario, could be expected.


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Lakshmi Ramachandran

A Head and Shoulder Pattern threatening !

 Half Hourly Chart 

 Break of Neckline at 11400 will see a target of 11000 !

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Lakshmi Ramachandran

Correction Due for the Nifty as per Monthly Charts

Monthly Chart 

Rising wedge with huge negative divergence in Rsi14 and Macd indicate correction due.

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Lakshmi Ramachandran

Nifty Could attempt 12000 !

 Weekly Chart

The channel target is 12069  but RSI 14 is overbought and so is Stochastics and shows negative divergence alongwith MACD. One needs to lighten positions and keep booking profits as Nifty attempts to reach  heady heights.

      

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Lakshmi Ramachandran

Bank Nifty - Time to be cautious

Weekly Chart 

 Rising Wedge with falling momentum indicating a fall due

 Half Hourly Chart 

Potential double top forming on Half Hourly Charts support  the start of a fall.

 Daily Chart

Strong supports on Daily Charts

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Lakshmi Ramachandran

Reigning The Nifty as on 3rd August 2018

Daily Chart 

 

Daily Chart 

Uptrend intact.Negative divergence cautions.For now, strong support around 11170 is the key to uptrend continuing.

 

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Lakshmi Ramachandran

Reigning The Nifty - Weekly Charts

Weekly Chart 

 Weekly charts continue to show bullishness and a channel target of 11440 is a possible target.However the second chart shows momentum is not keeping up with price which calls for caution.Booking profits on the way up would be prudent.


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Lakshmi Ramachandran

Reigning The Nifty

Half Hourly Chart 

 Daily Chart

 

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 Lakshmi Ramachandran

A Pullback ?

  Half Hourly Chart 

Half Hourly Chart 

 A rising wedge broken down and negative divergence on all oscillators ! Expect a pullback.

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Lakshmi Ramachandran

Reigning The Nifty

Daily Chart 

Hourly Chart

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Lakshmi Ramachandran

Equilateral Triangle

Daily Chart

 Seems like the breakout on the upside is gathering steam.Stiff resistance area with gap and previous high at 10929 ! If  happens with good bullish momentum new highs should be seen.

Personally have been expecting this new high to complete the fifth wave ( as per my amateurish wave count).


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Lakshmi Ramachandran

Reigning The Nifty 29th June 2018

Weekly Chart 

 

Daily Chart 

 Monthly Chart

 


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Lakshmi Ramachandran

Bullish Patterns under threat !

Half Hourly Chart 

 

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Lakshmi Ramachandran

Bullish Patterns (in the making) Sighted !

Half Hourly Chart 

Half Hourly Chart

 Long Term charts are still bullish supporting the view of a possible all time new high.

Low of 10753 needs to hold for the right shoulder to form well.

Low of 10701 needs to hold for the handle to form well.

Breakout points almost coincide with the highs made at 10837-10893-10925.

 

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Lakshmi Ramachandran

Hanging Man Candle Pattern May See Downmove

Weekly Chart 

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Lakshmi Ramachandran

Indecision Continues

Weekly Chart 

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Lakshmi Ramachandran

Half Hourly Charts Indicate Some Correction

 

Half Hourly Chart 

 Negative Divergence coupled with a rising wedge which has been broken down

Daily Chart

 
 
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Lakshmi Ramachandran

Reigning The Nifty - Getting Tricky With The Sideways Move

Weekly Chart 

Daily Chart

Half Hourly Chart

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Lakshmi Ramachandran

Nifty To Make New High ?

Hourly Chart 

 
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Lakshmi Ramachandran

Reigning The Nifty - A Review

Hourly Chart 

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Lakshmi Ramachandran

Reigning The Nifty - Long Term Charts

Monthly Chart

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Lakshmi Ramachandran

Reigning The Nifty - Does the Pennant Target Still Hold ?

Half Hourly Chart 

Breakout from Pennants normally lead to a similar and sharp move in the same direction as the Pole.However, rarely a pullback is seen close to the breakout point.

Nifty seems to be seeing such a pullback. The target of the blue triangle which formed is at 10545.Strong resistance from the 20 dema and 50 dema is at 10555.High possibility that the downtrend continue after hitting these resistances.


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Lakshmi Ramachandran

Reigning The Nifty - Target 9500

A  pennant is a continuation pattern  which forms when the price rallies/falls sharply, then moves sideways or slightly to the downside/upside. This sideways movement typically takes the form of a small triangle (pennant). The sideways period is often followed by another sharp rise/fall.


The Nifty just broke down from a Pennant - marked in red.

Half Hourly Chart 

 The  momentum seen during the forming of the flag pole -marked in green-- could continue once the pattern completes. Therefore expect a move down for the Nifty of a measure the size of the flag pole from the point of breakout.

Half Hourly Chart 

Strong support at 9500

The pennant target measures to 9675 which is also strong support area marked in red dotted line. The 50% fibo support of move from 7894 to 11171 is at 9511. Support on rising wedge on monthly charts, shown in my last post, is at 9500. 

 Monthly Chart

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Lakshmi Ramachandran