Quick Followup to "A Pullback In The Offing"

Daily Chart

  Half Hourly Chart 

The pullback with a gap up opening failed to see a follow through indicting extreme 

bearishness.Close was below 11108 opening possibilities of 10584 which is next support.So the target

 of 10825 is very achievable now!

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Happy Trading !!

Lakshmi Ramachandran

A Pullback In The Offing

Half Hourly Chart 

Half Hourly Chart 

Morning Star Bullish candle pattern with positive divergences

Daily Chart 

 

Bearish engulfing pattern in a downtrend is considered bullish.Positive Divergence on oscillators too.

Daily Chart 

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Happy Trading !!



Lakshmi Ramachandran

Maruti Suzuki Technical Support

Weekly Chart

 Strong support should emerge just below the 5000 levels.

 

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 Happy Trading !!


Lakshmi Ramachandran

Nifty Target 10825

Daily Chart 

Break down from the Diamond reversal pattern gives a target of 10825 ! 

Support available at 200 Ema at around 11270 and previous low of 11108.

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Happy Trading !! 

Lakshmi Ramachandran

Markets May Continue to Move Up

Daily Chart 

 Breakout from downtrending channel and previous short term high of 11832.

Daily Chart 

Rising wedge if forms another leg up then previous highs of 12103 will be taken out easily to form new highs.

Bank Nifty Daily

 

 Bank Nifty making same pattern !

Conclusion : Markets may go up in this bearish pattern !

 
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Happy Trading !!


Lakshmi Ramachandran