Intraday update for Aug 30

Sold the current long at 4994.

Rebuy at 4945-50 levels with 4930 Hour close SL.
Sell below 4930 with 4940 as SL.

Fibo retr levels for the upmove from 4720 - 4998

14.6%  = 4957
23.6% = 4932
38.2% = 4891.8
50% = 4859
61.8% = 4826

Fibo levels for the Down move from 5740 - 4720:

14.6 = 4868.9
23.6 = 4960.7
38.2 = 5109.6
50= 5230
61.8 = 5350

Analysis for Aug 30

Nifty has given a decent bounceback from its Low of 4720. Being the last day of the month and two days consequtive holidays booking out at certain levels would be a necessity. The important numbers to be looked at would be,

Month Pivot : 5064

Week     Pivot        : 4887
                Lema       : 4960
               5EMA     : 5023
              

Day        Pivot        : 4887
               5 EMA    : 4872
               5 SMa     : 4869
               Hema      : 4932
               20 Dma   : 5080
              


Hour        50 SMA  :4875
                100 Sma  :4982

Intraday trading range:
Considering possibility of a gap up, the immediate SL for the current Longs would be the Day Hema @ 4932. Holding this the trading range would be 4932 - 4960 - 4980 - 5023 -5064.

61.8% retr Fibo level for 5194 - 4720 is 5006.

Analysis for Aug 29 - DAY hour and week charts