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.

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

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.

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

Happy Trading !! 

Lakshmi Ramachandran

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.

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

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.

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

Happy Trading !! 

Lakshmi Ramachandran

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.

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

Happy Trading !! 

Lakshmi Ramachandran