Analysis for Jan 13

Intraday Update 2.30 PM:

Nifty Futures made a High of 4917 and the target for Bearish Bat Pattern is almost over. Now as 61.8% retr of 5400 - 5431 is also done at 4899NS, More upsides will be only on Close above 4880 and then the Bearish Shark Pattern of the Day TF would Take over. 

Now retracements of the upmove from 4588 - 4899 must be watched for further pattern development.

NS has resisted exactly at channel top. Missed to watch it earlier. So Terminating the Longs AT COST TO COST.

Intraday Update 2.00 PM:
The SL for Longs is placed at DAy Close below 4860 NS- today's Day HEMA and 50 DMA. Book profits at 4920-30 NS as it is 100 DMA.





Intraday update 12.45 PM:

Intraday update 12.15:
Nifty has gathered support at Day Hema at 4834 so Initiated 50% longs at 4860NF


Intraday Update 11.15 AM:


Todays High -4868 -50 DMA
Today's Low - 4834 -Day Hema.
The range would be resolved by a breakout on either sides. If 50 DMA upsides breakout -then 4932 possible. If it breaks then 4775 - 47NS.



ANALYSIS FOR JAN 13:

Nifty yesterday closed just below the Day Hema and Pivot yesterday - signalling ST weakness.

Week levels		Developing levels
CLOSE	4754	CLOSE
PIVOT	4712	PIVOT	4801
HI EMA	4864	HI EMA	4869
LOW EMA	4638	LOW EMA	4657
5 EMA	4748	5 EMA	4776
10 EMA	4832	10 EMA	4831
PrevHigh	4795	High	4877
Prev Low	4695	LOW	4695

Considering the weekly developing levels - Nifty is trading well below the Week 5 EMA and Pivot. Weakness would set in on weekly basis if NS closes below the week 5EMA. Today If 4869 -week HEMA is attempted and could not close above it- which also corresponds to 50 DMA - then there would be a Pause in the upmove.

So as per the weekly levels NS is in trading range between 4800 - 4870.Break of either sides would lead to huge moves.

CHECK LIST-DAY
CLOSE	4831
PIVOT	4835	10EMA	4781
HI EMA	4838	13EMA	4772
LOW EMA	4774	26EMA	4781
5EMA	4813	prev HI	4877
5 SMA	4808	prev LOW	4842
200 Hr MA	4770	100 DMA	4938
100 Hr MA	4743	50 DMA	4869
50 Hr MA	4783	20 Hr MA	4843

Positional	Trade Table
Current pattern	X-A	B	C	D(current)
Bearish Bat pattern Hour TF	5099-4531	4801	4588	4877 - 127% of BC
Trade initiated
	If 4877 broken upwards then proj for D
	141.40%	4889.00
	161.80%	4932.00

If NS trades below 4877 then  projections for downsides
23.60%	4808.00
38.20%	4766.00
44.70%	4748.00

If the Day close is above the Day Hema and subsequently above weekly Pivot then a Positional long could be inititated as upsides are possible.

For Intraday:
Sell Below 4860NS with SL 4880NS - 50 DMA and weekly Hema
Buy above 4830 with Sl 4810NS - Day 5EMA