Reigning the Bank Nifty 5th May,2011

 Daily Chart

Support line held on closing basis  and  the candle formed was a spinning top and the Bank Nifty closed in the positive. Expect a pullback with resistances at  11076-11254-11382-11532. Supports at 10820--10765-10538-10018.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P 500 update 4th May 2011

Daily Chart

Anticipated fall continued forming a hanging man which is bearish.  Taking support on the neckline around 1344 area will keep the targets of  1410-1427. Support at 1344-1331.


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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty - 4th May 2011

Daily Chart

Huge bearish candle closing much below the 200 dema. 5503 as shown on weekly charts in post of 2nd May should hold to prvent a bloodbath. If breaks then supports are at  5478-5428-5348.

 Half Hourly Chart

Support taken at the 161.8% level as shown on the half hourly chart. Supports at 5490-5500. If breaks then 5348-5335 should be supports. Oscillators in oversold zone but no positive divergences spotted. This strengthens the view that momentum is towards a downtrend.


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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning the Bank Nifty 4th May 2011

Daily Chart

Megaphone pattern target of  10847 was achieved.The close is below the 200 dema. 10890 which was very important support as shown on monthly charts in post for 2nd May has failed to hold.  Trading  below this level will  invite lower levels.

Supports now at 10815-10765-10533-10018.



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P 500 update --3rd May 2011

Daily Chart

Broken below the uptrendline from 1294. This should lead to a pullback.Taking support on the neckline around 1344 area will keep the targets of  1410-1427. Support at 1344-1331.



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com