Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
follow me on twitter http://twitter.com/#!/lucksr

Tuesday, December 3, 2019

Bearish Rising Wedge Gives Way



Daily Chart 




Tomorrow's action is important as a follow through is necessary to confirm the break.


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



Happy Trading !!

Lakshmi Ramachandran

Wednesday, November 20, 2019

Nifty Slide More Likely



Daily Chart

 

 

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


Happy Trading !!


Lakshmi Ramachandran

Sunday, August 11, 2019

Reigning The Nifty 11th August 2019


 
Weekly Chart 
 


Support taken on the important trendline from 2016.This makes low made at 10783 very important to hold for any upmove.A weekly close above 11311 will set upward momentum.


Daily Chart 
 

 Target 10825 achieved ! This also was area of 61.8% Fibo level of leg up from 10004.Technically an area to bounce and we may be seeing the start of one.
Overhead resistance of 200 ema at 11271.
 

Half Hourly Chart 

 
 However, the pullback seems to be lacking steam as can be seen by the failed breakout from the falling channel on half hourly charts.




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


Happy Trading !!

Lakshmi Ramachandran

Tuesday, July 30, 2019

Quick Followup to "A Pullback In The Offing"



Daily Chart


  Half Hourly Chart 



The pullback with a gap up opening failed to see a follow through indicting extreme 

bearishness.Close was below 11108 opening possibilities of 10584 which is next support.So the target

 of 10825 is very achievable now!




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


Happy Trading !!

Lakshmi Ramachandran

Monday, July 29, 2019

A Pullback In The Offing



Half Hourly Chart 




Half Hourly Chart 


Morning Star Bullish candle pattern with positive divergences


Daily Chart 
 


Bearish engulfing pattern in a downtrend is considered bullish.Positive Divergence on oscillators too.


Daily Chart 





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



Happy Trading !!



Lakshmi Ramachandran

Saturday, July 13, 2019

Maruti Suzuki Technical Support



Weekly Chart



 Strong support should emerge just below the 5000 levels.
 



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


 Happy Trading !!


Lakshmi Ramachandran

Monday, July 8, 2019

Nifty Target 10825



Daily Chart 



Break down from the Diamond reversal pattern gives a target of 10825 ! 

Support available at 200 Ema at around 11270 and previous low of 11108.



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


Happy Trading !! 

Lakshmi Ramachandran

Thursday, June 27, 2019

Markets May Continue to Move Up



Daily Chart 


 Breakout from downtrending channel and previous short term high of 11832.

Daily Chart 





Rising wedge if forms another leg up then previous highs of 12103 will be taken out easily to form new highs.



Bank Nifty Daily

 
 Bank Nifty making same pattern !


Conclusion : Markets may go up in this bearish pattern !


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



Happy Trading !!


Lakshmi Ramachandran

Sunday, June 23, 2019

Holding 11600 Area Crucial To Further Umove



Weekly Chart 




 Daily Chart 



Half Hourly Chart



The Nifty is around the crucial support area of around 11600 where Gap support and the green neckline lie --shown on half hourly charts. Break of this will see a fast fall to around 11400.Failure to reverse after filling the gap will see a test of 11100.




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


Happy Trading !!

Lakshmi Ramachandran

Tuesday, June 18, 2019

A Pullback in the Offing?



Daily Chart 


Today's candle -a spinning top- could be indicating a minor break in the fall.
Half hourly charts show a minor positive divergence and support taken at the support line of falling channel.A pullbackto around 11870 could be possible.

Half Hourly Chart 

 



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


Happy Trading !!


Lakshmi Ramachandran

Sunday, June 16, 2019

More Evidence For A Correction Creeps In



Weekly Chart



Daily Chart




 Negative divergences continue  indicating weakness


Daily Chart 


A close below 11769 will confirm a lower high lower low formation for the short term and increase possibility of continuing lower.


Half Hourly Chart



Bank Nifty already made a lower high lower low formation in the short term with negative divergences intact.

Bank Nifty Daily Chart







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


Happy Trading !!

Lakshmi Ramachandran

Sunday, June 2, 2019

Correction Due



Monthly Chart 




 Weekly Chart



Daily Chart



Monthly and weekly continue within the rising wedge coupled with negative divergences on oscillators indicating a correction due.
Daily charts too show negative divergence giving weight to the chances of a correction.




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

 
Happy Trading !!


Lakshmi Ramachandran

Sunday, May 26, 2019

Reigning The Nifty 27th May 2019



Weekly Chart 


  
Weekly Chart 



Monthly Chart


Negative divergences persist on weekly and monthly charts so one needs to be booking profits to be on the safer side.




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

 
Happy Trading !!

Lakshmi Ramachandran

Monday, May 20, 2019

Technically Speaking



Weekly Chart 



Half hourly charts show a higher high higher low formation indicating a leg up in progress.
However, Gap resistance which coincides with 80% retracement level may prevent more upsides.

Half Hourly Chart



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

Happy Trading !!


Lakshmi Ramachandran

Monday, May 13, 2019

Correction Should Continue



 Half Hourly Chart 


 H n S Target almost done and positive divergence showing on Half Hourly Charts so a mild pullback could happen if the gap support holds.


Half Hourly Chart



Daily Chart 


Oscillators on daily charts showing weakness but fast reaching oversold areas.11000 needs to hold to prevent a larger fall. 


Weekly Chart


 Weekly candle shows a good amount of bearishness supported by weak oscillators.
Trendline support @ 10695 as of May 31st and strong support at lows of 9951.

 Till Gap resistance at 11657-11712 is crossed bearishness will continue.


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



Happy Trading !!

Lakshmi Ramachandran

Wednesday, May 8, 2019

Technically Speaking - - -



Half Hourly Chart 


 



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

Lakshmi Ramachandran

Saturday, April 20, 2019

Rising Wedge on Weekly Charts



Weekly Chart 



Found this rising wedge, forming since 2015-2016,  along with a negative divergence in MACD.
Forming on weekly charts makes it all the more reliable. Break of support line will confirm start of a correction.

However, since an up leg is forming at the moment, the Nifty could go up to around 12000-12350, which are the values on the resistance line of the rising wedge uptill May 23rd, before starting a fall.


Daily Chart 


Last four week's action has formed an expanding triangle,a bearish formation at tops, alongwith negative divergence.Break of support line to be awaited to confirm start of a fall.


Half Hourly Chart

Half hourly charts show a flag pattern breakout indicating some upmove could continue for some more time.



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

Happy Trading !!

Lakshmi Ramachandran

Wednesday, April 3, 2019

Breakdown from rising wedge



Half Hourly Chart 


Breakdown from rising wedge giving a technical target of 11250


Daily Chart 


Inside day breakdown but not decisive.However negative divergence appeared on daily charts too
(shown below)

Daily Chart 


 


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

Happy Trading !!

Lakshmi Ramachandran

Tuesday, April 2, 2019

Inside Day



Daily Chart 



 An inside day is often used to signal indecision because neither the bulls nor the bears are able to send the price beyond the range of the previous day.

 The pattern when found near the end of a prolonged uptrend may suggest that the rally is getting exhausted and is likely to reverse.

However, wait for a breakout/breakdown from the pattern--   11738-11645  ---to see whether Nifty is reversing or continuing the Uptrend.




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

Happy Trading !!

Lakshmi Ramachandran

Monday, April 1, 2019

Continued Signals of Caution



Daily Chart 



Half Hourly Chart 




  Shooting stars indicate a potential price top and reversal.A down day tomorrow will confirm the price reversal and indicates the price could continue to fall.

Negative divergences continue on half hourly charts indicating underlying weakness in the upmove.


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

Happy Trading !!

Lakshmi Ramachandran

Sunday, March 31, 2019

Signs of caution



Weekly Chart
 


  Since the engulfing bullish pattern has  occured  during an uptrend , it may be a last engulfing top which represents the last gasp of the trend.  The test to see if this is the case, is, if the next candle closes below the top of the current (white) candle's real body i.e, a close below 11624.

The upmove from low of 10004 is corrective having already consumed 22 weeks as against the fall from 11760 to 10004 which took 8 weeks only.


Daily Chart 



The Daily chart too gave a bearish indication with a Hanging Man pattern signalling a potential peak in an uptrend.


Half Hourly Chart 


Negative divergences exist showing weakness in the upmove.


Monthly Charts


 The monthly chart however is bullish with a breakout from the range trade of past few months.

The trend continues to be up in all time frames.However some signs  in lower frame charts calls for caution.




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

Happy Trading !!

Lakshmi Ramachandran