S&P500 5th September 2012

Daily Chart 

The descending triangle now looks more like a Pennant forming which is a continuation formation, indicating the uptrend should resume with a break out from the resistance line.

 Support at 1396  becomes a crucial level to watch for the bulls.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 5th September 2012

 

Daily Chart  

 Nifty made a weak pullback after showing signs of weakening below the 5240 level.This level of 5235-5240 has held well.Nifty is close to crucial support at the uptrendline from June 2012 at 5213.If holds we may see some bullish attempts.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 5th September 2012

Daily Chart 

The pullback came  but lacked strength.The 10131 needs to be taken out to show short term strength.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 4th September 2012

Weekly Chart

A second doji in a row.The trend seemed clearly down though the previous week's low was not violated.Negative divergences are intact on the oscillaotrs indicating a sideways to down movemnet in store for this week.

Daily Chart

A descending triangle seems to be forming which is  bearish in nature.Support at 1397 should hold else could break below the uptrendline which has support at 1380.Oscillators too showing weakness.

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Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 4th September 2012

Daily Chart

An Inside day pattern formed which may be indicating a stall in the fall.Support on the green trendline maintained.Positive divergence on half hourly charts maintained which may lead to a sideways movement or some pullback.Stochastics on daily charts oversold which also supports the view.

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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com