Analysis for Jan 10

Intraday Update 2.00PM:
2.00Pm close is 4833. So terminated the aggressive shorts taken at 4830NF.


INTRADAY UPDATE 11.00am:

Aggressively shorted at 4830NF with SL close above 4830NS.
4828NS is the 113% retr and also it coincides with the Trendline. Further upmove on a close above 4828.NS.

The 4828 levels also corresponds to Week 10 EMA.

ANALYSIS FOR JAN 10:

CHECK LIST-DAY
CLOSE	4743
PIVOT	4732	10EMA	4728
HI EMA	4765	13EMA	4729
LOW EMA	4692	26EMA	4764
5EMA	4735	prev HI	4759
5 SMA	4752	prev LOW	4695
20 DMA	4708	50 DMA	4896
20 Hr MA	4734	100 Hr MA	4707
200 Hr MA	4774	50 Hr MA	4711

Bearish Shark pattern and Bearish Bat Pattern in Day Charts:

In the Bearish bat pattern 100% retr is achieved at 4801 today. (Refer posts Jan2 - Jan 5)

As per the ratios, if AB = 50% retr and BC = 78.6% retr, the max targets for
D are 161.8% of BC = 4932
          200% of BC - 5014
          224% of BC = 5065
Holding above the Day Hema of 4765, Nifty is Likely to achieve this target.

Above 4930++ - Month 5 EMA, the small Bearish bat pattern would end and then the Bearish Shark of Day TF would come into action for more upmoves.

Positional	Trade Table
Current pattern	X-A	B	C	D(current)
Bearish Bat pattern Hour TF	5099-4531	4801	4588	4795 - 94.3% of BC
Trade initiated	SL Day close below 4765 Day HEMA
reentered Longs at 4795NF(10 Jan)	If 4795 broken upwards then proj for D
	113.00%	4828.00
	127.00%	4858.00
	141.40%	4889.00
	161.80%	4932.00