Nifty gained support at the Day Lema 4680 levels has closed just above the week 5 EMA and Day 5 EMA - but still below the Day Hema on Friday. A close above the Day Hema would warrant more upmoves upto 4828/58.
Close below the Monthly Lema of 4730 would lead to more downsides 4700/4680/4630 - corresponding to week Pivot/Day Lema/ week Lema. Breach of the week lema would warrant more downsides upto 4550 levels.
| Week levels | |
| CLOSE | 4754 |
| PIVOT | 4712 |
| HI EMA | 4864 |
| LOW EMA | 4638 |
| 5 EMA | 4748 |
| 5 SMA | 4722 |
| PrevHigh | 4795 |
| Prev Low | 4687 |
| CHECK LIST-DAY | | | |
| CLOSE | 4754 | | |
| PIVOT | 4745 | 10EMA | 4724 |
| HI EMA | 4769 | 13EMA | 4727 |
| LOW EMA | 4690 | 26EMA | 4766 |
| 5EMA | 4735 | prev HI | 4795 |
| 5 SMA | 4731 | prev LOW | 4687 |
| 20 DMA | 4709 | 50 DMA | 4916 |
| 20 Hr MA | 4707 | 100 Hr MA | 4697 |
| 200 Hr MA | 4744 | 50 Hr MA | 4703 |
| 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 | | | | |
| | Projected downmoves | | If 4795 broken upwards then proj for D | |
| | 38.20% | 4715.00 | 113.00% | 4828.00 |
| | 44.70% | 4702.00 | 127.00% | 4858.00 |
| | 61.80% | 4667.00 | | |
| | | | | |
| | | | | |
| Sell Below Hr close 4730 NS with SL Day Hema 4770 for Positional | |
| Sell Below 4760 NS with SL Hr close above Day Hema 4780 | |
| IMPORTANT TA parameters for projections |
| 38.20% | 4715.00 | week Pivot |
| 44.70% | 4702.00 | 50 Hr MA/100 Hr MA |
| 61.80% | 4667.00 | Day Lema |
3 comments:
@Satheesh,
Is there any probable Gartley pattern by 5099/4819 - 4531 - 4800 - 4588 , which gives us a tgt above 4800?
Fire,
refer jan3 to jan 5th posts. I have mentioned about the Bearish bat pattern and taken entry accordingly.
As per the pattern already 94.3% tgt is reached and Holding 4730, the Projected tgts are 4858, 4932 - immediate
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