Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Tuesday, November 29, 2022

Reigning The Nifty 29th November 2022



Daily Chart 



Nifty is moving in an upward-sloping channel with plenty of room on the upside. We're talking of the upside since the all-time high has been broken.

 The first sign of weakness would be a close below 18100.


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Happy Trading !! 


Lakshmi Ramachandran

Saturday, November 19, 2022

Reigning The Nifty 21st November, 2022


Weekly Chart



Daily Chart Showing Huge Negative Divergence



Weekly Chart



The negative divergence is quite marked indicating a fall may start. The Doji candle on weekly charts shows hesitation by bulls to carry on the upmove.

However, the earlier peak at 18114 was broken on the upside so only a trade below 18114-18096 would indicate further weakness and a potential double top forming at 18604.



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Happy Trading !! 


Lakshmi Ramachandran

Sunday, July 3, 2022

Reigning The Bank Nifty 4th July 2022


Weekly Chart 



 Daily Chart 



Resistance from Gap area and downtrendline remain.


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Happy Trading !! 


Lakshmi Ramachandran

Reigning The Nifty 4th July 2022


Weekly Chart 


 Daily Chart 


 Hourly Chart 


Not much has changed since last week. Resistances remain at gap area and Fibonacci levels.


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Happy Trading !! 

Lakshmi Ramachandran

Sunday, June 26, 2022

Reigning The Nifty 27th June 2022


Weekly Chart 



Daily Chart showing positive divergence


 Daily Chart 


 Hourly Chart 


Though Daily charts show positive divergence the rise may prove tough for the Nifty as resistance 

from gap area and Fibonacci levels as marked on half-hourly chart.



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Happy Trading !! 


Lakshmi Ramachandran

Reigning The Bank Nifty 27th June 2022


Weekly Chart 



 Daily Chart 



 Immediate resistances at Gap area need to be crossed to avoid fall below neckline of the bearish Head 

and Shoulder pattern.





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Happy Trading !! 


Lakshmi Ramachandran

Sunday, June 19, 2022

Reigning The Nifty 20th June 2022


Weekly Chart



 Daily Chart



Having broken the 15671 low the Nifty could be headed lower to  around 13000 levels which is around the 50% of the entire move from 7511.

Strong supports are there at the 14000 levels as marked on the charts.




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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 20th June 2022


Weekly Chart 


Weekly Charts show a bearish Head and Shoulder formed. Neckline if broken there could be a fall upto 61.8 %  retracement level around 26000.

The daily chart below shows the triangle formed at the right shoulder broken with a target around 27000.

 Daily Chart 


 

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Happy Trading !! 

Lakshmi Ramachandran

Sunday, May 29, 2022

Reigning The Nifty 30th May 2022


Weekly Chart 



 Daily Chart 



 Hourly Chart 


Gap resistance at 16484-16852 will prove strong to cross. The downtrend line shown in green on half-hourly charts is around this same level which makes it strong resistance. 

 If crosses it easily then there will be a bullish move of around 700 points.





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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 30th May 2022


Weekly Chart 


 Daily Chart 


 Hourly Chart 


Bank Nifty is approaching 35888 being strong resistance at 200 Ema which is also the 50% retracement level as shown on the daily chart.

The next resistance is at 36565  the 61.8% retracement level.



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Happy Trading !! 

Lakshmi Ramachandran

Tuesday, May 24, 2022

Reigning The Nifty and Bank Nifty 24th May 2022



Nifty Daily Chart


Range continues as resistance at 16404 for Nifty and 34797 for Bank Nifty respected.
 

Bank Nifty Daily Chart



 


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Happy Trading !! 


Lakshmi Ramachandran

Sunday, May 22, 2022

Reigning The Nifty 23rd May 2022


Weekly Chart 


 Daily Chart 


 Hourly Chart 


Nifty moving in a range between 16404-15735.Break of the levels mentioned should give a 700 point move on  that side.

Resistances seem more difficult to break than supports at the moment. 



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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 23rd May 2022


 Weekly Chart 


 Daily Chart 


 Hourly Chart 


Sideways move in an equilateral triangle. Equilateral triangles can breakout on any side but given that Bank Nifty could be completing the Right shoulder of a Head and Shoulder pattern - shown on Weekly Chart--, the  break is more possible on the lower side.


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Happy Trading !! 

Lakshmi Ramachandran

Sunday, May 15, 2022

Reigning The Nifty 16th May 2022


Weekly Chart



 Daily Chart 


 Trend continues down. 15000 will be important support to be held to avoid extreme weakness.





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Happy Trading !! 


Lakshmi Ramachandran

Reigning The Bank Nifty 16th May 2022



Weekly Chart



Daily Chart


 If support at 33013-32065 breaks then expect a waterfall movement down. The head and shoulder pattern shown on weekly charts has a target of around 22000 !





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Happy Trading !! 


Lakshmi Ramachandran

Sunday, May 8, 2022

Reigning The Nifty 9th May 2022


Weekly Chart 



 Daily Chart 



 Hourly Chart 



Trend continues down. 

Resistance between 16484 to 16860  at Gap and 200 Ema will be difficult to overcome. Sell on rise will be the mantra for now.



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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 9th May 2022


Weekly Chart 


 Daily Chart 


Trend down with Resistance at gap and 200ema as marked on chart.Sell on rise till successfully overcome these resistances.



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Happy Trading !! 

Lakshmi Ramachandran

Sunday, May 1, 2022

Reigning The Bank Nifty 2nd May 2022


Monthly Chart


Moving downwards in a downward sloping channel.

Weekly Chart 


Moving in an ascending broadening wedge which is a bearish pattern. Looking at it another way, it is a bearish Head and Shoulder pattern with an upward sloping neckline.

 Daily Chart and  Hourly Chart showing the same Head and Shoulder patterns.Holding 32155 is key for bulls. 


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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 2nd May 2022


Monthly Chart


A broadening descending wedge formation is seen on Monthly charts and is characterized by increasing price volatility with two diverging trend lines. It usually occurs after a significant rise, or fall, in the action of security prices. Statistically, the descending wedge breaks out bullishly.

Weekly Chart 


Daily Chart 


Moved within last week's range forming an Inside day. As per daily charts, last day's trade was very bearish indicating high chances of the bearishness continuing.
The action since March 22nd seems to be forming a bearish Head and Shoulder pattern with a neckline around 16900. This adds evidence to the bearish bias.

Hourly Chart




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Happy Trading !! 

Lakshmi Ramachandran

Sunday, March 27, 2022

Reigning The Nifty 28th March 2022


Weekly Chart 


 Daily Chart 


 Hourly Chart 


Patterns indicate resumption of uptrend if trades above 17471
Else resumption of downtrend.


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Happy Trading !! 


Lakshmi Ramachandran