Reigning The Nifty 24th November 2011

 Daily Chart

The Nifty broke down from the red neckline of the bearish head and shoulder pattern in the beginning of August 2011 giving a target of 3900.The recent rally to 5399 was a classic test of the neckline and the reaction from 5399 a resumption of the downtrend  which was confirmed with a break below the low of 4720.
 
 The crucial support of 4650-4675-4720 level too was broken indicating further selling to come. 


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


Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 24th November 2011

 Daily Chart

The support line of the expanding triangle was violated intraday but protected on close.Logically the next 'up' leg of the triangle should have started.Support at 8269 needs to be held for that.



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

Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

S&P500 23rd November 2011

 Daily Chart

 Taken support at the 1188 - 50% fibo level once again.But looks temporary.Support at 1158 and Resistance at 1208-1221


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

Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Nifty 23rd November 2011

 Daily Chart

An Inside day occured showing indecision.This could lead to a reversal what with the oscillators being in the oversold zone and the Nifty at a good support.The chart below shows previous Inside day patterns have proved short term reversals.

Daily Chart

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

Happy Trading !! 
Lakshmi Ramachandran
www.vipreetsafetrading.com

Reigning The Bank Nifty 23rd November 2011

 Daily Chart

Forming of a Doji and  Inside day pattern showing indecision. Oscillators oversold and Rsi 14 showing a positive divergence.A pause in the downtrend may be in the offing.


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

Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com