Weekly Chart
Resistance and Support levels on falling wedge for the week, are indicated on the chart. Trade on the side of breakout.
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Lakshmi Ramachandran
Monday, February 10, 2025
Saturday, February 1, 2025
Reigning The Nifty 1st February 2025
Monthly Chart
If the price breaks below the bottom of the channel, the dip indicates that more selling could be on the way.
The oscillators, RSI14 and MACD have been moving down from the overbought zone indicating more cooling off necessary in the medium term for a strong fresh move to start.
Weekly Chart
Weekly candle is a bullish engulfing one indicating the bounce may continue. Resistance from the falling wedge is at 23900 which needs to be scaled for the move to continue within the Rising channel which started from 27th March 2022.
Support is at 22750.
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Lakshmi Ramachandran
Tuesday, January 14, 2025
Reigning The Bank Nifty 14th January 2025
Weekly Chart
The Bank Nifty has closed decisively below the up trendline maintained since 2020 March. The candle formed is bearish indicating bears in full control.
At the same time it has also decisively broken the neckline of the topping head and shoulder formed as shown below. Target is 44940
Weekly Chart
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Lakshmi Ramachandran
Sunday, January 5, 2025
Reigning The Nifty 6th January 2025
Weekly Chart
I'm not an expert on Elliot Wave analysis. I'm just a casual learner.
I would love to get comments on whether my counts are okay.
Besides the wave predictions, Nifty is considered to carry on the uptrend till the green channel is broken decisively. The level is at 22500 for this week.
The falling wedge shown in red indicates an upward breakout thus continuing the uptrend.
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Lakshmi Ramachandran
Tuesday, October 29, 2024
Reigning The Nifty 29th October 2024
Daily Chart
The topping Head and Shoulder pattern has a target of 23257.Expect bounces to be followed by falls till the target is reached.
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Lakshmi Ramachandran
Sunday, January 14, 2024
Some Bearish Pointers on the Nifty and Bank Nifty.
Bank Nifty Weekly Chart
Huge negative divergences are seen in Bank Nifty weekly charts.
Bank Nifty Weekly Chart
Weekly shows a rising wedge which is a bearish pattern.
Bank Nifty Daily Chart
Daily shows a bearish head and shoulder pattern after breajout from the rising wedge as seen on Weekly charts above.
Nifty Weekly Chart
Negative divergence in Nifty too with Nifty making higher highs and RSi14 and Macd failing to do the same.
Nifty Weekly Chart
Target of 22150 within reach after which we could expect a correction.
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Lakshmi Ramachandran
Wednesday, December 13, 2023
Reigning The Nifty 14th December 2023
Daily Chart
Nifty had formed a broadening pattern which is a bearish topping pattern. However, the euphoria due to the Election results led to a breakout on the top.
Daily Chart
The breakout seems to be petering out with a bearish engulfing pattern followed by a hanging man, proving the breakout should mostly be a false breakout.
Supports at 20702 break of which could lead to filling the huge gap area 20508-20267.
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Lakshmi Ramachandran
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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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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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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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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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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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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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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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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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
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