Analysis for Oct 14

Nifty after reaching a High of 5137 few minutes after opening, gradually moved southwards to a low near the Day's Pivot of 5069 and closed below the Weekly Hema of 5080.

Strength for Upward journey would be possible if the weekly Hema 5080  is conquered and also trading above the today's  pivot of 5094.

A move below 5030 - 50 DMA would weaken Nifty further which might lead to low's of 20 DMA - 4978 and lower upto Month Lema of 4930.

-ve Divergence is persistence in Hour charts.

As per the I target of C in Bearish Pattern Nifty made a High near the 88.6% of OX. Until this High is not breached Nifty would move downwards.

So for the Shorts initiated yesterday at 5130 NF the Positional SL would be 5160-70NS which is the Previous High.

For the shorts re-initiated at Lower levels near 5085 just before the closing session, the SL can be maintained at an Hourly close above the DAy Pivot of 5095.

Important week Parameters:

Week levels		Developing
CLOSE	4888
PIVOT	4846	5034
HI EMA	5055	5082
LOW EMA	4806	4833
5 EMA	4947	4990
5 SMA	4969	4972

Important Day Parameters:

CHECK LIST-DAY
CLOSE	5078
PIVOT	5094	5EMA	5013
HI EMA	5057	10EMA	4973
LOW EMA	4970	13EMA	4968
5 SMA	4939	26EMA	4984
20DMA	4978	prev HI	5137
50DMA	5030	prev LOW	5068
100DMA	5276	200Hr MA	4989

	Trade Table
Current pattern	O-X	A	B	C(current)
Bearish Shark Day TF	5169-4758	5034	4728	5136
Trade initiated	SL Close above 5095 Day Pivot
Short at 5130NF	Retr of BC (NS)
	23.60%	5040.00
	38.20%	4980.00
	44.70%	4954.00
Above Day Pivot @ 5095 till 5160-70 - TRADING TIME
Positional SL above 5170

If NS trades above 5136 then next upsides for C
141.4% of AB	5160
161.8% of AB	5223	II TGT AS PER PATTERN
224% of AB	5413	Final tgt as per pattern

Fast rise/ Fast fall possibility in 5min NF:

Intraday Update:


DIAMOND TOP FORMATION IN 5min NF:

Intraday Update 11.15 AM:

The 11.AM close is at  Day's pivot and above Week Hema of 5080. So the shorts initiated at yesterday's close can be terminated. The Diamond pattern has given a breakout in the upsides. This might lead Nifty yesterday's high. The positional SL remains same for the shorts initiated at 5130levels.

If there is any Hour close below 5080 then fresh shorts can be initiated at those levels. Till then TRADING RANGE BETWEEN 5080 -5170.

Intraday update 2.15 PM
H & S pattern in 5min NF:

The inv H&S formed will be negated below 5080 NF.

Intraday Update 2.40 PM:

If the Hour close is above 5136 NS prev high then rest of the Shorts taken at 5130NF yesterday would be terminated.


Update 3.15 PM

The remaining shorts are terminated.