Reigning The Nifty 2nd March 2012

Daily Chart

The rising wedge support line was broken intraday but Nifty managed to close above it.I have redrawn the line to encompass today's low.The close was once again below the 20 dema (blue).All demas are still bullishly aligned.Macd has given another downtick and Rsi14 has turned down.Stochastics however is moving up in a buy mode.

Daily Chart II

 

A flag  which is a bullish consolidation pattern seems to be forming, which should have an upward breakout ultimately, but chances of testing 5163 before that are high ..

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 2nd March 2012

Daily Chart

The rising wedge support line was broken intraday but Bank Nifty managed to close above it.I have redrawn the line to encompass today's low.The close was once again below the 20 dema (blue).All demas are still bullishly aligned.Macd has given another downtick and Rsi14 has turned down.Stochastics however is moving up in a buy mode.

Daily Chart II

 

A flag  which is a bullish consolidation pattern seems to be forming, which should have an upward breakout ultimately, but chances of testing 9758 before that are high .

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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 1st March 2012

Daily Chart

An outside day was formed which is a reversal signal.Occuring after negative divergence in the Rsi14 and stochastics  makes a reversal  all the more probable.



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 1st March 2012

Monthly Chart

Bullish Indications : Bullish breakout from the downtrending channel on increased volumes. Rsi14 and stochastics have moved above the 50 mark. Macd has given an uptick above the zero line.Close for the month is above the 12 month ema.

Bearish Indications : Resisted at the 61.8% fibo level of the fall from 6338 to 4531.

Daily Chart

 

Bullish Indications :All demas bullishly aligned.Uptrendline for this rally maintained.Rsi14 above 50 mark. Stochastcis given a buy in the oversold region.

Bearish Indications : The Nifty is moving in a rising wedge and seems to be forming the next leg up.Rising wedges are bearish patterns which usually come at the end of an uptrend.Macd continued to give a downtick.


Monthly charts have turned bullish.The daily charts are in correction mode to the short term uptrend.The rising wedge normally touches the resistance line thrice so we may have one more leg up.However if the low made at 5268 gives then the correction may resume.Only a move below 5100 will put the uptrend from 4531 in danger.



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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 1st March 2012

 Monthly Chart

 

Bullish Indications : Bullish breakout from the downtrending channel on increased volumes. Rsi14 and stochastics have moved above the 50 mark. Macd has given an uptick above the zero line.Close for the month is above the 12 month ema.

Bearish Indications : Resisted at the 61.8% fibo level of the fall from 13304 to 7766.

Daily Chart

Bullish Indications :All demas bullishly aligned.Uptrendline for this rally maintained.Rsi14 above 50 mark. Stochastcis given a buy in the oversold region.

Bearish Indications : The Bank Nifty is moving in a rising wedge and seems to be forming the next leg up.Rising wedges are bearish patterns which usually come at the end of an uptrend.Macd continued to give a downtick.

Monthly charts have turned bullish.The daily charts are in correction mode to the short term uptrend.The rising wedge normally touches the resistance line thrice so we may have one more leg up.However if the low made at 10073 gives then the correction may resume.Only a move below 9500 will put the uptrend from 7766  in danger.

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

Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com