Blog Posts - Rounding Top



BSE Sensex and NSE Nifty charts (Sep 02, 2016): bulls regain control

Bulls regained control during the week's trading as FIIs and DIIs combined forces. Their total net buying in equities was worth Rs 3250 Crores, as per provisional figures. DII's bought shares worth nearly Rs 1800 Crores; FIIs bought shares worth...

BSE Sensex and NSE Nifty charts (Aug 26, 2016): bears wrest advantage

FIIs turned net sellers of equity worth Rs 370 Crores during the week, possibly on concerns about a possible interest rate hike by the US Fed. However, they were net buyers of equity worth Rs 340 Crores on Fri. Aug 26.DIIs were also net sellers of eq...

Nifty chart: a midweek technical update (Aug 24 '16)

Quietly, FIIs have turned net sellers of equity this week - though their net selling in three days was only worth Rs 340 Crores. DIIs were net buyers on Monday and today (worth Rs 180 Crores), but were net sellers of equity (worth Rs 450 Cr...

BSE Sensex and NSE Nifty charts (Aug 19, 2016): bulls and bears locked in a stalemate

Neither bulls nor bears were able to gain much advantage during a holiday-shortened trading week. FIIs were net buyers of equity worth Rs 1250 Crores, as per provisional figures. DIIs were net sellers of equity worth a little more than Rs 100 Crores.

Nifty chart: a midweek technical update (Aug 17 '16)

WPI inflation rose for the 4th straight month to a 23 month high of 3.55% in Jul '16 against 1.62% in Jun '16. In Jul '15, the index was -4%. WPI had hit a peak of 3.74% in Aug '14. Prices of potatoes, pulses, vegetables, sugar and fruits showed stro...

WTI and Brent Crude Oil charts: short covering rallies on OPEC output freeze speculation

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil formed a 'rounding top' reversal pattern (clearly visible on the 20 day and 50 day EMAs) during the past three months, and corrected below all three EMAs into bear territory.The fol...

S&P 500 and FTSE 100 charts (Jul 29 '16): bull market consolidations continue

S&P 500 index chart patternThe following remarks appeared in last week's post on the daily bar chart pattern of S&P 500: "Some more consolidation - or a correction - is likely. Booking part profits may be a good idea."The index continued its...

WTI and Brent Crude Oil charts: slip back into bear territories

WTI Crude Oil chartThe following remarks were made in the previous post on the daily bar chart pattern of WTI Crude Oil: "Daily technical indicators are in bearish zones and showing downward momentum - suggesting a possible break below the 200 day EM...

Gold and Silver charts: correcting after sharp BrExit rallies

Gold chart patternThe daily bar chart pattern of Gold formed a small 'double top' reversal pattern just below 1380, and started a correction that is receiving support from its 20 day EMA and the 1320 level.All three EMAs are rising, and gold's p...

WTI and Brent Crude Oil charts: bulls reluctantly yield ground as bears dominate

WTI Crude Oil chartThe following comment appeared in the previous post on the daily bar chart pattern of WTI Crude Oil: "All three daily technical indicators are looking bearish and showing downward momentum - hinting at some more correction."Oil's p...

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartIn the previous post on the daily bar chart pattern of WTI Crude Oil, a 'reversal day' bar on daily chart and a 'gravestone doji' candlestick on weekly chart had raised concerns about the formation of an intermediate...

BSE Sensex and NSE Nifty 50 index chart patterns – Jan 22, 2016

There seems to be no let up in FII selling. Last week, their net selling in equities crossed Rs 5900 Crores as per provisional figures. DIIs more than matched them as their net buying in equities crossed Rs 6075 Crores.However, both Sensex and Nifty...

Nifty chart: a midweek update (Jan 20 ‘16)

FII selling continued unabated this week. Their net selling in equities totalled almost Rs 3400 Crores, as per provisional figures. Interestingly, DIIs were net buyers of equity worth Rs 3900 Crores, but could not prevent Nifty from falling to a 19 m...

BSE Sensex and NSE Nifty 50 index chart patterns – Jan 15, 2016

Plummeting oil price and a crash in the Chinese stock market continues to spook FIIs, who have been on a selling spree across global markets. Already there is talk about a 2008-like bear market - specially from those experts who propound the 8 years...

Nifty chart: a midweek update (Jan 13 ‘16)

The Indian economy seems to be taking one step forward and two steps back. Domestic passenger car sales during Dec '15 grew almost 13% YoY - its 14th straight month of growth. Sales of M&HCVs grew 19%, but two-wheeler sales declined 3%. Howe...

Nifty chart: a midweek update (Jan 06 ‘16)

Global stock markets are perfect examples of the proverb: "Misfortune never comes alone." First it was the Chinese economic slowdown and the Saudi-Iran tussle that sent markets crashing on Mon. Jan 4 '16.Today came twin shocks of Chinese Yuan devalua...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Nov 13, 2015

S&P 500 Index Chart The following comments appeared in the previous post on the daily bar chart pattern of S&P 500: “Strong volumes on the three down-days of the week show that bears are not going to throw in the towel without a fight...

Gold and Silver charts: bear domination resumes

Gold chart pattern The daily bar chart pattern of gold had broken out and closed above its 200 day EMA on Wed. Oct 14, but the foray into bull territory did not last long. Overbought technical indicators had indicated the possibility of a correc...

Nifty chart: a mid-week update (Sep 02 ‘15)

Economic slowdown in China, and its possible repercussions on global economic growth, have sent FIIs on a selling spree. Global stock markets are in danger of slipping into bear markets. Some have done so already. During Aug ‘15, FIIs were net sel...

BSE Sensex and NSE Nifty 50 index chart patterns – Aug 28, 2015

Devaluation of the Chinese Yuan created panic selling across global markets that got exacerbated by unwinding of long positions. Despite signs of improvement in India’s macroeconomic data, our stock market could not avoid the global contagion of fe...


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