The SL is trailed to a close below 5195 as Day lema is at 5199 and also the weekly pivot is at 5209. A close below DLema would lead to ST weakness.
ANALYSIS FOR NOV 14:
Holding this low, as per Day TF it would be a Bullish Crab Formation. This is likely to retrace as per the projected Fibo Ratios,
Holding B, Projected C's:
23.6% - 5202
38.2% - 5255
44.7%-5257
50% - 5271
61.8% -5301
23.6% - 5202
38.2% - 5255
44.7%-5257
50% - 5271
61.8% -5301
The OS hour indicators -indicate a ST bounce back upto 5300NS levels.
| Week levels | |
| CLOSE | 5169 |
| PIVOT | 5209 |
| HI EMA | 5277 |
| LOW EMA | 5073 |
| 5 EMA | 5179 |
| 5 SMA | 5199 |
| PrevHigh | 5317 |
| Prev Low | 5142 |
| CHECK LIST-DAY | |||
| CLOSE | 5169 | ||
| PIVOT | 5170 | 10EMA | 5222 |
| HI EMA | 5271 | 13EMA | 5208 |
| LOW EMA | 5199 | 26EMA | 5152 |
| 5EMA | 5227 | prev HI | 5199 |
| 5 SMA | 5246 | prev LOW | 5142 |
| 100 DMA | 5223 | 20 DMA | 5172 |
| 50DMA | 5050 | ||
| 100 HrMA | 5212 | 200 HrMA | 5090 |
| Trade Table | ||
| Current pattern | X-A | B(current) |
| Developing Bullish Pattern in DAY TF | 4728 -5400 | 5142 |
| Trade initiated | SL Close below 5140 | |
| Bought @ 5160NS | Projections for C | |
| 23.60% | 5203.00 | |
| 38.20% | 5240.00 | |
| 44.70% | 5257.00 | |
| 50.00% | 5271.00 | |
| 61.80% | 5301.00 |
Book Partial profits at 5260 -5271 NS levels corresponding to Day Hema levels.
| If NS trades Below 5140 then next downsides for B | |||
| Prev Low | 38.20% | 5143.00 | |
| 200 Hr MA | 44.70% | 5099.00 | |
| 50 DMA | 50.00% | 5064.00 | |
| 61.80% | 4984.00 | ||
2 comments:
hi satheesh
Like the systematic way you've prepared yr trade table.
I follow a method with median lines/ trendlines which gives similar targets like harmonic ratios.( I maintain a blog www.niftytradeswithpitchfork.blogspot.com for nifty analysis)
Yr blog is very interesting and I will be a regular visitor to compare notes :).
TC
Kavima
Thanks Kavima.
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