Reigning The Nifty 14th December 2023

Daily Chart

Nifty had formed a broadening pattern which is a bearish topping pattern. However, the euphoria due to the Election results led to a breakout on the top. 

Daily Chart 

The breakout seems to be petering out with a bearish engulfing pattern followed by a hanging man, proving the breakout should mostly be a false breakout.

Supports at 20702  break of which could lead to filling  the huge gap area 20508-20267.

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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 29th November 2022

Daily Chart 

Nifty is moving in an upward-sloping channel with plenty of room on the upside. We're talking of the upside since the all-time high has been broken.

 The first sign of weakness would be a close below 18100.

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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 21st November, 2022

Weekly Chart

Daily Chart Showing Huge Negative Divergence

Weekly Chart

The negative divergence is quite marked indicating a fall may start. The Doji candle on weekly charts shows hesitation by bulls to carry on the upmove.

However, the earlier peak at 18114 was broken on the upside so only a trade below 18114-18096 would indicate further weakness and a potential double top forming at 18604.

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

Happy Trading !! 

Lakshmi Ramachandran

Reigning The Bank Nifty 4th July 2022

Weekly Chart 

 Daily Chart 

Resistance from Gap area and downtrendline remain.

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Happy Trading !! 

Lakshmi Ramachandran

Reigning The Nifty 4th July 2022

Weekly Chart 

 Daily Chart 

 Hourly Chart 

Not much has changed since last week. Resistances remain at gap area and Fibonacci levels.

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

Happy Trading !! 

Lakshmi Ramachandran