Nifty Hour in channel support at today's low of 4787.
Nifty (NS) managed to close above the Day Pivot, Day Hema and Low EMA and also above the month Lema of 4833. Being the month end - Holding above 4833 - Month Lema is a must for the upmove to continue.
The Next important resistance is the Week Low EMA of 4876 sailing past it would take NS to 4929 - 38.2% retr for the fall from 5400 -4639. This also corresponds to the Current Monthly Pivot.
| Week levels | |
| CLOSE | 4710 |
| PIVOT | 4741 |
| HI EMA | 5132 |
| LOW EMA | 4876 |
| 5 EMA | 4962 |
| 5 SMA | 5086 |
| PrevHigh | 4874 |
| Prev Low | 4639 |
| CHECK LIST-DAY | |||
| CLOSE | 4851 | ||
| PIVOT | 4826 | 10EMA | 4864 |
| HI EMA | 4835 | 13EMA | 4900 |
| LOW EMA | 4737 | 26EMA | 4982 |
| 5EMA | 4799 | prev HI | 4859 |
| 5 SMA | 4767 | prev LOW | 4766 |
| 50DMA | 5026 | 20 DMA | 5057 |
| 20 Hr MA | 4752 | 50 Hr MA | 4785 |
| Trade Table | |||
| Current pattern | O-X | A | B(current) |
| Bearish Shark pattern | 5740 - 4720 | 5400 | 4639 |
| Trade initiated | |||
| Bought at 4850 NF | Projections for C | ||
| 23.60% | 4818.00 | ||
| 38.20% | 4929.00 | Book PP | |
| 44.70% | 4979.00 | ||
| booked profits at 4835NF for the prev buy at 4720NF |
The Longs can be held with a SL of 4830 NS w.r.t day close - corresponding to day Hema, Month Lema.
No comments:
Post a Comment