Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Saturday, July 31, 2021

Reigning The Nifty 2nd August 2021


Monthly Chart


Monthly charts are still robust, continuing to make a higher low higher high candle for the month. However, the candles for the last two months being dojis show some indecision. Oscillators still showing strength but in the overbought area.

Weekly Chart 


 Daily Chart 


The first breach of the uptrend line from March 2020 saw a higher high and low in the sideways move. The present breach is seeing a lower high and low in the sideways move. With negative divergences on the weekly and daily oscillators, this could be a red flag to take cognizance of.

 Daily Chart 


No change in stance with the continuing sideways move. Continue a neutral strategy.



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Happy Trading !! 


Lakshmi Ramachandran

Sunday, July 18, 2021

Reigning The Nifty 19th July 2021

Weekly Chart 


 Daily Chart 


 Hourly Chart 


The Rounding pattern shown from sometime -check posts of and older than 21st June --has a target of around 16700. Macd has given a buy on daily charts which is a positive.


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Happy Trading !! 


Lakshmi Ramachandran

Reigning The Bank Nifty 19th July 2021


Weekly Chart 



 Daily Chart 


Bank Nifty has broken out of the equilateral triangle on the upside indicating bulls are in control.
However, break above 35811 did not sustain and the close was below it. This keeps the guess game on though with a flicker of hope for the bulls that the rise may continue.




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Happy Trading !! 


Lakshmi Ramachandran

Saturday, July 10, 2021

Reigning The Nifty 12th July 2021


Weekly Chart 


 Daily Chart 


 Hourly Chart 


Not much has changed with the sideways move other than the ascending triangle failed reversing the sideways move with upward bias to downward bias.

A trend will emerge on break of Resistance at 15915  OR  Support at 15633-15430.



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Happy Trading !! 


Lakshmi Ramachandran

Reigning The Bank Nifty 12th July 2012


Weekly Chart


 Daily Chart


Hourly Chart 


Weekly candle is a shooting star at resistance of 35811. This should normally be followed by a lower high lower low bearish candle to confirm it's bearishness. 

Daily chart shows a failed breakout from the triangle.

Sideways moves always confuse.Just keep in mind the supports and resistance levels.
> 35811 expect some upward move and < 35811 supports are at 34650-33910.





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Happy Trading !! 

Lakshmi Ramachandran

Saturday, July 3, 2021

Reigning The Nifty 5th July 2021


Monthly Chart 


June's candle was a spinning top indicating indecision. The candle's  low of 15450 needs to  hold to test further targets of 16600.Oscillators are positive for further upmove.

Weekly Chart


Flip flop continues. The 15920 target nearly achieved. Next is 16600 if 15450 held. Negative divergences continue though indicating momentum is lacking thus calling for caution on the upside.

 Daily Chart 


Friday's candle was a doji around support from red channel indicating the steady downmove for the week may be over and we see another leg up. Rsi14 shows an uptick. Breaking 
15450 will see a fall to around 15000.

 Hourly Chart 


An ascending triangle formation on Hourly charts indicate more chances of an upward breakout.

The Nifty is in a flip flop mode with some indications of the upmove continuing. However, while flip flopping Nifty could lose balance and fall too !  So caution necessary on trades. 




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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 5th July 2021


Monthly Chart


Monthly movement is in an equilateral triangle indicating break can be on any side.

Weekly Chart 


 Daily Chart 


 Hourly Chart 


Next move undecided with equilateral triangles on all time frames. Supports and Resistance points marked.


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Happy Trading !! 


Lakshmi Ramachandran

Sunday, June 27, 2021

Reigning The Bank Nifty 28th June 2021


Weekly Chart


 Daily Chart


 Hourly Chart 


First positive week in last 5 weeks. However the move was lacking momentum. 

Breakout from the red neckline around 35400-35500 shown on half hourly charts will be first step to the up move resuming.



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Happy Trading !! 


Lakshmi Ramachandran

Reigning The Nifty 28th June 2021


Weekly Chart


 Daily Chart


 Hourly Chart 


Sideways with an upward bias continues. Breakout from 15902-15430 will set the short term trend.Till then neutral strategies will work the best.



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Happy Trading !! 


Lakshmi Ramachandran

Sunday, June 20, 2021

Reigning The Nifty 21st June 2021


Weekly Chart 


An Outside day was formed on Weekly charts which could be signalling a reversal or deceleration of the current trend.An Outside day is when the current candle completely encompasses the previous candle.It must have a higher high and a lower low compared to the previous day.
Negative divergences on oscillators seen since few weeks add to the evidence of the reversal argument.


 Daily Chart 


The candle on daily charts should be a hanging man taking into account the bearish evidences seen on weekly charts. However having taken support above  previous top of 15432 at 15450, the bulls seem to be strong too and the candle could be a hammer. 
Tomorrow's candle will confirm the strength of either the bulls --a close above highs of 15761 
or the bears -- a close below 15450.

 Hourly Chart 


More evidence needed to tilt in favour of the bears as the trend is your friend and the trend is still up.

However with bearish signs showing one needs to trade light with neutral strategies till more clarity is seen.



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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 21st June 2021

Weekly Chart 


 Daily Chart 


 Hourly Chart 


Bank Nifty seems to be making lower high lower low candles since last two weeks and is in the fourth leg down of a symmetrical triangle clearly seen on daily charts. Only a close above 35380 will negate the fall.


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Happy Trading !! 

Lakshmi Ramachandran

Saturday, June 5, 2021

Reigning The Nifty 7th June 2021


Weekly Chart


Way to higher targets clear of resistance. Negative divergences seen on oscillators. 

Rising wedge seen on daily and half hourly charts which is a bearish pattern.

 Daily Chart 


 Hourly Chart 


Negative Divergence on all oscillators


Traders needs to be keep the bearish indications popping up in mind before turning overtly bullish.



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Happy Trading !! 

Lakshmi Ramachandran

Sunday, May 30, 2021

Reigning The Nifty 31st May 2021


Weekly Chart 


Closed inside the up trending channel making a new all time high. Could continue to go up  to the resistance line of the channel. Oscillators though show a negative divergence which may lead to some reaction to the 15000 levels before making new highs.

 Daily Chart 


Breakout from triangle points to more upsides. Any reaction due to negative divergence should find support at 15045.

 Hourly Chart 


Momentum needs to catch up for the upmove to sustain.



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Happy Trading !! 

Lakshmi Ramachandran

Sunday, May 23, 2021

Reigning The Nifty 24th May 2021


Weekly Chart 



 Daily Chart 


 Hourly Chart 


 Hourly Chart



Nifty is in a sideways move with a positive bias. Moves are sporadic so difficult to ride.14151 needs to be broken on a weekly close for  weakness. 

The rounding formation points at a possible upward breakout and could lead to 16500 and above.


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Happy Trading !! 


Lakshmi Ramachandran

Sunday, May 9, 2021

Reigning The Nifty 10th May 2021


Monthly Chart 


Trade above 13435 is positive


Weekly Chart


Daily Chart  


Oscillators on daily charts are positive indicating up move may continue.



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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 10th May 2021


Weekly Chart 


 Daily Chart


 


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


Happy Trading !! 


Lakshmi Ramachandran