Om Sri Ganeshaya Namaha

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

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