The Month Parameters are,
| Month Levels | |
| CLOSE | 5328 |
| PIVOT | 5152 |
| HI EMA | 5484 |
| LOW EMA | 4930 |
| 5 EMA | 5273 |
| 5 SMA | 5280 |
| PrevHigh | 5401 |
| Prev Low | 4729 |
NS closed below the Day Pivot yesterday indicating Weakness. Trading below today's pivot would lead to more weakness.
As per Hour TF,
XA = 5011 -5400
If A =5400 holds, then projection for B,23.6% - 5308
38.% - 5251.4
44.7% - 5226
50% - 5205
The 38.2% corresponds to the Day 5ema and 44.7% corresponds to the Day Lema. If NS finds support at these levels then a Bounce back is likely which would lead to the Bullish crab pattern in Hour TF.
So a Buy above 5260 with SL below Day Lema @ 5225 or sell below 5380 - 5400 with close above 200DMA as SL would be the ideal trades.
| Week levels | Developing | ||
| CLOSE | 5361 | ||
| PIVOT | 5282 | PIVOT | 5334 |
| HI EMA | 5206 | HI EMA | 5257 |
| LOW EMA | 4956 | LOW EMA | 5075 |
| 30wk MA | 5350 | 5 EMA | 5199 |
| 40WK MA | 5383 | 5 SMA | 5152 |
| PrevHigh | 5400 | ||
| Prev Low | 5085 |
| CHECK LIST-DAY | |||
| CLOSE | 5328 | ||
| PIVOT | 5334 | 10EMA | 5184 |
| HI EMA | 5287 | 13EMA | 5156 |
| LOW EMA | 5223 | 26EMA | 5095 |
| 5EMA | 5254 | prev HI | 5360 |
| 5 SMA | 5236 | prev LOW | 5315 |
| 100 DMA | 5238 | ||
| 200 DMA | 5407 | ||
| 20 Hr MA | 5282 | 50 Hr MA | 5173 |
| Trade Table | ||||
| Current pattern | O-X | A | B | C(current) |
| Bearish Shark Day TF | 5169-4758 | 5034 | 4728 | 5400 |
| Trade initiated | ||||
| NIL | Proj of BC with C @5400 | Abv 5400next levels | ||
| 23.60% | 5241.00 | 224% of AB | 5415.00 | |
| 38.20% | 5143.00 | 161.8% of OX | 5423.00 | |
| 224% of OX | 5678.00 |
| As per week TF the 161.8% projection of 4169 - 4728 comes to 5441 | ||||||||
| ||||||||
| Buy above 5260 with SL Close below 5220 |
Intraday Update: 11.30 AM:
1. A Low of 5277 approx 38.2% proj of 5011 - 5400, is made in NS - above week Pivot.
2. NS trading above the week Pivot of 5282
3. Close of 10 and 11 am is above the DAy Hema
Hence 50% of Longs is initiated at 5290 NS i.e., 5320 NF.
Intraday Update : 1.15 PM:
The 38.2% retr is done in Hour TF - If this Holds then a bounce upto 5286/5307/5323
SL for Longs - Hourly close below 5235 NS - 100 DMA.
1 comment:
Ravi,
GM. Thanks for your interest. You had asked "How to trade based on these levels"?. A million dollar question which every trader yearns to learn!!. Well I shall explain how I trade.
After spotting the pattern - i mark the possible projections and wait for a confirmation to enter the trade by matching it with important TA parameters mainly Day PIVOT, HEMA and LEMA - which I mention in the trade table.
when NS holds the particular level then I initiate the trade accordingly.
Always watch out for the important TA parameter numbers - put it down in a paaper and get ready for trade. It really helps.
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