Reigning The Nifty 30th June , 2010

 Daily Chart

Nifty finally broke out of the range of 5266-5367 giving a range break target of a 100 point move to 5166.The uptrendline is strong support at 5243 for today .The low made yesterday way 5235 yesterday . 5210 is the 38.2% fibo level of rise from the strong support of 4963 to 5366 which coincides with the 161.8% fibo level of rise from 5260 to 5339.

Strong support at 5210.  Resistance at 5260-5275-5300.



Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 29th June , 2010

 Daily Chart

The Nifty is stuck in a range of 5266-5367 since Monday of last week. A break out of this range is needed for momentum to increase in that direction.

Supports at 5302-5260-5222.  Resistance at 5350-5367-5387.



Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Marketpulse-snp.blogspot, You cannot escape COPYSCAPE !!!!!!!

S&P Wealth Creators !  However hard you try to wipe the  traces of plagiarism, you will not succeed.Please stop doing this !! Readers here is the evidence .


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Lakshmi Ramachandran
www.vipreetsafetrading.com

Copycat Once Again !!!!!!!!

The blogger of   http://marketpulse-snp.blogspot.com  has copied my views on Nifty and posted it as if it were his.I am at a loss what to do !!


Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 28th June , 2010

 Weekly Chart

 

Weekly Chart II

Daily Chart

Weekly Chart


Nifty has formed a shooting star which is highly bearish. The fact that the move past 5367 to scale the previous peak at 5399 made 2 months ago has been eluding , adds to the bearish possibilities. The stochastics is overbought, the Rsi 14 continues to make lower high and lower low since October 2009, Macd too has been in tandem with the Rsi 14 and is in a sell mode. Only a move above 5367 will nullify the bearishness.

Chart II shows the downtrendline from January  2010  joining highs made in the rally from March 2009, has been resistance at first but finally scaled to make new highs in the rally. The Nifty may thus correct some more only to finally scale the trendline.

Resistance is at 5290-5367-5399  and Support at  5179-5059.

Daily Chart

The inside day range was broken on the downside but the close is still inside the range.The breakout from the uptrendling channel and the downtrending  line from January 2008 highs proved false . Oscillators and OBV have moved below immdediate trough made on 18th June . Nifty's corresponding low is at 5245.Possibility of breaking this low  is high.

Support at 5207 which is the channel support. Resistance is at 5304-5367.


Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com