Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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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 !


 
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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.




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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 

 



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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







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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.




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Happy Trading !!


Lakshmi Ramachandran