S&P500 15th November 2012

Daily Chart 

 Supports not holding indicating more selling can be anticipated.The fall in April 2012 to June 2012 was of 155 points which translates to 1420 for this fall.This level coincides with the 38.2% fibonacci level retracement for the  1074 to 1475 rise. A fall below this could mean a deeper correction and possible reversal of trend.

 
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Lakshmi Ramachandran
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S&P500 14th November 2012

Daily Chart 

The Inside Day indecision resolved to the downside but only intraday.The close managed to keep the indecision going with a close above the low of 1373.The low made was at 1371 which is the 50% fibonacci retracement level of the rise from 1267 to 1475.The down trendling channel too has been good support.

200 day ema was however broken and the close was below it.

If the above mentioned supports are held and the S&P moves above the 200 ema a good bounce may ensue.

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Lakshmi Ramachandran
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S&P500 13th November 2012

Daily Chart

An Inside Day pattern shows a probable reversal.Break out of the high @ 1391 or low @ 1373 should set the trend on the side of breakout.

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 Lakshmi Ramachandran
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Reigning The Nifty 12th November 2012

Weekly Chart

Daily Chart

Half Hourly Chart

Nifty has been in a sideways move since the last seven weeks.This week saw the Nifty making a shooting star which is a bearish pattern.The 5740-5760  resistance has been difficult to maintain and the Nifty broke down to gap support at 5678-5645 as shown on half hourly charts.This is also the 50% fibonacci retracement level of the rise from 5583 low to 5777 and where the 20 day ema is housed.This level also has the support at the uptrendline from 5218 at 5659-5668.This therefore is a strong support.A break of this support will see a test of the 5583 low.

Resistance is marked on half hourly charts.

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Lakshmi Ramachandran
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Reigning The Bank Nifty 12th November 2012

Weekly Chart

Daily Chart

Half Hourly Chart

Bank Nifty failed to cross above the 11745 high and gave in to bear pressure.Weekly candles for the past six weeks have been small bodied most having long upper shadows showing selling pressure barring last weeks candle which had a long lower shadow showing buying pressure which could well be a bearish hanging man.Two "shooting stars" and one "hanging man" at the 11745 resistance make a case for the scene heading towards bearishness.

Daily Charts show a false breakout from the flag formation.The Inside Day pattern mentioned yesterday resolved to the down breakout.The breakout was decisive too.The bias is definitely towards bearishness.

Support seems to have been taken at the 50%  fibo level as can be seen on the half hourly chart.Strong support is now available at the gap area 11394 to 11315 and the uptrendline at 11399.Fibonacci support comes at 11422-11352.  A break of these levels could put the low at 11125 in danger and spell trouble for the bulls.

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Lakshmi Ramachandran
www.vipreetsafetrading.com