S&P500 7th March 2012

 Daily Chart

Support now at 1323-1307

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 7th March 2012

Daily Chart

 

Volatile day due to the news about polls.The close was below the green neckline adding to the bearishness.

The trend is down and  oscillators point to further weakness.Supports and Resistance marked on the charts and fibonacci levels marked on half hourly charts.

Half Hourly Chart

Half Hourly Chart 

Inverted cup and handle formation broken down giving a target of 4890.This is very bearish as the uptrend may be put in danger if achieved. Buying on dips may be deferred till some signs of reversing the short term downtrend appear.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 7th March 2012

Daily Chart

 

Volatile day due to poll results.The trend in the short term is down and continued today to make a lower low in the ongoing correction.

Half Hourly Chart

The red neckline of the inverted cup and handle formation is around 10010. If broken the Bank Nifty could slide below the 61.8% fibo level at 9083.

 

Half Hourly Chart

 

 

Supports and Resistance marked on the charts

 

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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 6th March 2012

 Daily Chart

Was right in calling for taking profits and waiting for lower levels to go long again.The coil forming since 29th Feb broke down registering a lower high lower low candle. Good supports at 1352-1355.Break of this support would find support at 1335.


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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 6th March 2012

Daily Chart

A down leg of the flag is still forming. Breakout point is at 5315.The 5 & 20 dema have given a sell.Support was taken today around the earlier low of 5268. If breaks, support available at 5235-5216-5187-5147.Oscillators showing weakness.

Half Hourly Chart

Half Hourly Chart II

 Half Hourly Charts show the symmetrical triangle decisively broken on the downside.This gives a target of around 5100.Only a move above 5392 can bring back the bullishness.There may be a pullback with the half hourly charts showing some positive divergence which would be an oppurtunity to sell with a stop loss of 5392.Only a fall below 5100 will put the uptrend in danger.

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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com