As per the current Bullish crab pattern the prev High 5160 (Point A) must not be breached. If NS moves beyond 5160, then the pattern becomes invalid and the possibility of a Bullish shark pattern or a Reciprocal Bullish ABCD Pattern is present.
Reciprocal AB=CD:
The 5-0 pattern incorporates a new type of AB=CD measurement - a Reciprocal
AB=CD pattern. A Reciprocal AB=CD pattern is typically a shorter counter move of
equal length within a longer trend. They look like a lazy "Z" or "S."
In the above Pattern C = 161.8% projection of AB or 224% ofAB
and D = 50% projection of BC.
In the above chart, if C - crosses 5160 then the Bullish Crab pattern gets invalidated and the Pink line AB would come into play. As per the Bullish reciprocal ,
AB = 5160 -5011
C = 161.8% projection of AB = 5252 = 100DMA.
Mild resistance is possible at 5180 levels as it is 113% retracement of AB - which is basic requirement of a Bullish Shark pattern.
O-X = 4728 -5160
A = 5011
B = Value above 5160. (5180 - 113% projection of XA - 5160 -5011)
Considering the present indicators if 5160 is breached then the likelyhood of NS reaching its 100 DMA is possible.
If NS trades below th Day pivot 5121 level then it indicates weakness.
| Week levels | Developing | ||
| CLOSE | 5132 | ||
| PIVOT | 5052 | ||
| HI EMA | 5084 | HI EMA | 5109 |
| LOW EMA | 4831 | LEMA | 4891 |
| 5 EMA | 5008 | ||
| 5 SMA | 4983 | ||
| PrevHigh | 5141 | ||
| Prev Low | 4882 |
| CHECK LIST-DAY | |||
| CLOSE | 5139 | ||
| PIVOT | 5121 | 10EMA | 5047 |
| HI EMA | 5111 | 13EMA | 5031 |
| LOW EMA | 5040 | 26EMA | 5017 |
| 5EMA | 5088 | prev HI | 5148 |
| 5 SMA | 5101 | prev LOW | 5075 |
| 50DMA | 5001 | ||
| 100DMA | 5262 | 100Hr MA | 4978 |
| 50Hr | 5072 | 200Hr MA | 4994 |
| Trade Table | ||||||||
| Current pattern | X-A | B | C (current) | |||||
| Bullish crab Pattern in Hour TF | 4728 - 5160 | 5011 | 5148 | |||||
| Trade initiated | SAR 5165 | |||||||
| Short @ 5110NF | Retr of BC (NS) for D | |||||||
| 38.20% | 5095.00 | Book PP | ||||||
| 50.00% | 5079.00 | Book Profit | ||||||
| 61.80% | 5063.00 | |||||||
| ||||||||
| IF SAR occurs then SL will be close below 5160 | ||||||||
| Important TA parameters for retracements | ||
| Day 5EMA | 38.20% | 5095.00 |
| 50 HR MA | 50.00% | 5079.00 |
| 10 D EMA/week pivot | 61.80% | 5063.00 |
| If NS trades above 5160 then next upsides for C | |||
| Prev mon High | 113.00% | 5179.00 | |
| 127.00% | 5200.00 | ||
| 100DMA | 161.80% | 5252.00 | |
Update 8.30 AM:
Owing to the weak global markets and sgxnifty trading below 5100, a gap down opening might be expected. So currently the SL can be trailed to the Daily Pivot of 5121NS instead of the SL mentioned in the trade table as 5165. Part booking can be done at 61.8% retr at 5060-70 levels and the SL to be trailed shall be decided as market progressess.
Next Projections are for D are:
| 50.00% | 5079.00 | 50Hr MA |
| 61.80% | 5063.00 | week Pivot |
| 70.70% | 5051.00 | 55 DMA |
| 78.60% | 5040.00 | Day Lema |
| 88.60% | 5026.00 | 50 DMA |
Intraday Update 10.30 am:
Partbooked shorts at 5060NS. Carrying the rest of the shorts with SL trailed to 5080 50Hr MA/Day 5EMA
Intraday Update 11.45 AM:
The next fibo projections to watch are as follows. NS has broken the week Pivot of 5052NS so the SL is trailed to the same.
| 78.60% | 5040.00 | Day Lema |
| 88.60% | 5026.00 | 13 Dema |
| 94.30% | 5018.00 | 26 Dema |
| 113.00% | 4993.00 | week 5SMA |
| 127.00% | 4974.00 | 20DMA |
The Bullish crab pattern - if it is to be completed in total -has its first target at 161.8% which corresponds to 4926 - Month Lema. It is not a rule that this target must be achieved. Currently it has reached almost the Day Lema at 5040 - so a support might be expected. The SL is trailed to 5052NS - week Pivot
Intraday Update 1.40 PM:
NS is gathering support at 4035-30 levels at 88.6% retr corresponding to Day Lema/26 DEMA and has reached 5052NS. Closed 75% shorts at 5045 NS and will close shorts completely above Hour closing 5052.
Intraday Longs initiated with SL below DAy"S Low @ 5033.If trading well above the Day Lema, then the SL would be trailed accordingly and additon of more Longs.
2.00 PM update:
Though there is more room for downsides as the 2.00PM closing is above 5052 -weekly pivot and the ST term Indicators are reversing from Oversold area - the Shorts are terminated. Longs will be added based on the Day closing.
3.15 update:
Booked profits in Intraday Long at 5090 NS taken at 5040NS. The Day High EMA for today is 5107. Currently the Day Pivot is 5072. Longs can be initiated again at closing with 5060 as SL.
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