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

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

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

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