50% SHORTS TAKEN AT 5395NF WITH POSITIONAL SL @5440NS
Nifty ended with a new High and has reached the Cluster Zone. If resisted at the cluster then a Likely hood of formation of a Huge inverted H&S is possible.
Todays Closing being the weekend closing would determine futher movements. Initial weakness in Week TF would be with a close below Developing week Pivot at 5385. The weekly charts also exhibit highly Over Sold Nature.
Keeping above the Trendline/Channel is a Must for the Continuing Upmove.
The Rising WEDGE formed in the Weekly charts and Day Charts would continue into channel if Upmove continues. If the Upward Movement is resisted due to the Cluster (Chart Shown Above) then the Rising Wedge may take it effect.
| Week levels | Developing week levels | ||
| CLOSE | 5326 | CLOSE | |
| PIVOT | 5246 | PIVOT | 5386 |
| HI EMA | 5226 | HI EMA | 5229 |
| LOW EMA | 5043 | LOW EMA | 5043 |
| 5 EMA | 5098 | 5 EMA | 5203 |
| PrevHigh | 5335 | 5 SMA | 5172 |
| Prev Low | 5077 | High | 5423 |
| 40 Wk MA | 5154 | LOW | 5323 |
| CHECK LIST-DAY | |||
| CLOSE | 5412 | ||
| PIVOT | 5392 | 5 SMA | 5198 |
| HI EMA | 5381 | 5EMA | 5353 |
| LOW EMA | 4302 | 10EMA | 5283 |
| prev HI | 5423 | 13EMA | 5243 |
| prev LOW | 5339 | 26EMA | 5019 |
| 20 DMA | 5134 | 20 Hr MA | 5364 |
| 200 DMA | 5190 | 50 Hr MA | 5314 |
If there is a Close below the Week Pivot 5385 or Day Hema 5380, then the Oppurtunity can be utilised for Fresh Shorts.
1 comment:
can i have your mail id.would like to send few bse charts which show different picture
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