Reigning The Nifty 8th February 2021

Weekly Chart 

 Daily Chart 

 Hourly Chart 

Nifty seesawed once again and made a huge bullish candle on weekly charts. Hourly charts reiterate the view. Holding 14900 level is key to the Head and shoulder pattern achieving the target of 16100.

Daily charts formed a doji on last trading session and Daily oscillators are at negative divergence----new highs on price but not on oscillators---- indicating a mild correction could happen before moving to the next target which is around 15250.

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Happy Trading !! 

Lakshmi Ramachandran

Bank Nifty 1st February 2021

Monthly Chart

 Weekly Chart

Daily Chart 

A dip back into the red uptrending channel will see more weakness.

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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 1st February 2021

Monthly Chart

A bearish candle on monthly charts at highs calls for caution. Support at 13316 crucial for uptrend to continue.

Weekly Chart

Weekly charts show a bearish breakdown from the "Inside Day" pattern. Crucial support at 13210. Oscillators show room for more fall.

 Daily Chart 

Short term trend firmly down on Daily Charts. Oscillators show room for more.13090 crucial support for uptrend to continue.

Watch the 13000 levels for a bounce back. Else downtrend could have started.

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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty and Bank Nifty 25th January 2021.

Weekly Chart 

An Outside Day pattern was formed on weekly charts which could be signaling a reversal or deceleration of the current trend.

 An outside day is when the day's candle completely encompasses the previous day's candle with a higher high  and a lower low compared to  the previous day.

A trade below the low of this pattern will confirm more correction.

 Daily Chart 

Daily charts show minor divergence in RSI and Macd.The latest channel shown in blue has been broken down. Depicted more clearly in the Hourly Chart below.

This supports a bearish view for the very short term.Breaking 14238 low will see some more bearishness.Else the red contracting triangle may be followed.

 Hourly Chart 

Bank Nifty Weekly Chart

Bank Nifty followed up last week's weekly candle by a bearish one this week. It is also an Outside day pattern with higher high and lower low candle.

This indicates bearishness.

Bank Nifty Daily Chart

Caution on longs is necessary.

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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty and Bank Nifty 18th January 2021

Nifty Weekly Chart 

Fibonacci projection target is around 15250

The doji alerts one to watch for the coming week's candle. A trade and close  below last week's range will confirm bearishness.

Nifty Daily Chart 

There's been a slow slide after completing target of around 14500 partially filling gap left at 14347-14383.

Nifty Hourly Chart 

Bank Nifty Weekly Chart

Bank Nifty Daily Chart

Bank Nifty showing a mild bearish bias too. 

Would be prudent to tighten stops.

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

Happy Trading !! 

Lakshmi Ramachandran