Reigning The Nifty Through Technical Analysis

Sunday, September 13, 2020

Bank Nifty Confirms Bearishness

Weekly Chart

Daily Chart

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Lakshmi Ramachandran

Lower high Lower low in place

Weekly Chart

Daily Chart

Nifty has recovered 50 % of the fall from 11794 to 11185.A lower high lower low is in place confirming a short term downtrend. Only a close above 11585 will negate this.

Five Minute Chart

The correction is within a falling channel as shown on the 5 minute chart.A breakout from the channel will be the first sign of the upmove resuming.

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Happy Trading !!

Lakshmi Ramachandran

Sunday, September 6, 2020

Reigning The Bank Nifty 7th September 2020

Weekly Chart

A Dark Coud cover is a bearish reversal pattern and the Bank Nifty has formed a classic pattern of the same on the weekly charts.

Hourly Chart

Technically bearishness will be confirmed only on a break of the 21028 lows.

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Lakshmi Ramachandran

Nifty could see a reversal

Weekly Chart

The weekly candle formed a bearish engulfing candle. The pattern indicating a reversal is quite strong as, Nifty has been in an uptrend since almost 24 weeks,

the pattern formed with the bearish candle which totally engulfed the previous bullish candle,

and, the size of the bearish candle was significant. The hourly chart depicts the intensity of the fall.

The oscillators are showing negative divergence.

Daily Chart