Analysis for Nov 4

Intraday Update 3.00PM:

NS has closed above 5280 at 3.00pm. so the shorts initiated yesterday i.e 50% of the shorts are cut now. Shorts which were initiated today are retained with  SL of 5360NF.

yesterday shorts initated at 5255NF. now terminated at 5310NF - Loss of 55 points.

Owing indecisiveness in closing in between the small range of 5257(week Hema) and 5300(Day HEMA) - as precaution a 5300Call option is bought at Rs.110 to hedge the shorts as Monday is a trading Holiday!!


Intraday Update 2.45 PM:

Today's developing
 week Pivot is 5277
Week Hema - 5257
Day Pivot - 5282
Day Hema - 5303

so, If NS closes above 5280 for the DAY then all shorts to be terminated. If it closes below 5257 then shorts would be retained.  will watch until 3.20PM.


Intraday Update 1.30PM:

Nifty completed a Bearish Shark pattern in 5min TF at 5353, corresponding to the ABC of Hour TF. So NF not breaching 5353 would give more lower sides expecting to reach 5125-5160 levels if today's close is below the week Pivot of 5280.

Shorts were added at 5345NF - as 61.8% of proj of AB was reached.

ANALYSIS FOR NOV 4:

Nifty found support yesterday at Lower levels of 5202 - near Day Lema, 10 DEMA and trendline connecting the lows from 4728.

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Week levels		Developing
CLOSE	5361
PIVOT	5282	PIVOT	5276
HI EMA	5206	HI EMA	5257
LOW EMA	4956	LOW EMA	5038
30wk MA	5350	5 EMA	5179
40WK MA	5383	5 SMA	5139
PrevHigh	5400	30 wk MA	5330
Prev Low	5085

Trading above the week Pivot of 5280 levels would give strength to the market. On a close above 5282 the Shorts can be terminated.

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CHECK LIST-DAY
CLOSE	5266
PIVOT	5250	10EMA	5219
HI EMA	5292	13EMA	5195
LOW EMA	5214	26EMA	5129
5EMA	5260	prev HI	5282
5 SMA	5294	prev LOW	5202
100 DMA	5230
200 DMA	5399
20 Hr MA	5258	50 Hr MA	5244

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	Trade Table
Current pattern	X-A	B(current)	C
Bullish Crab pattern	5011 - 5400	5202
Trade initiated	SL close above 5282
Sold @ 5255NF	Proj for C
	38.20%	5277.00
	44.70%	5290.00
	50.00%	5301.00
	61.80%	5324.00
	78.60%	5357.00