Nifty Closed with a doji depicting indecisiveness. Protecting 200DMA and Day 5 EMa at 5200, more upsides beyond 5300++ is possible. The developing Weekly Pivot at 5210 also provides good supports.
WEEKLY CHART:
The Long term TRENDLINE is breached in weekly charts and sustaining above the trendline is a must for further upmoves.
DAY CHART:
The Negative Divergence developed in day charts is to be noted:
HOUR CHART: If a fall is supported at the trendline another high is possible approximately near the DAY 5EMA @ 5204 - corresponding to 200 DMA.
A close below this would lead to more corrections.Supported here would take Nifty to 5300 ++
LEVELS TO BE NOTED FOR TODAY:
5285 -5300 - RESISTANCES
5200-5210 - SUPPORTS
| Week levels | Developing week levels | ||
| CLOSE | 5205 | CLOSE | |
| PIVOT | 5148 | PIVOT | 5212 |
| HI EMA | 5031 | HI EMA | 5118 |
| LOW EMA | 4816 | LOW EMA | 4903 |
| 5 EMA | 4984 | 5 EMA | 5029 |
| PrevHigh | 5217 | 5 SMA | 4831 |
| Prev Low | 5021 | High | 5290 |
| 40 Wk MA | 5170 | LOW | 5077 |
| CHECK LIST-DAY | |||
| CLOSE | 5270 | ||
| PIVOT | 5262 | 5 SMA | 5198 |
| HI EMA | 5223 | 5EMA | 5204 |
| LOW EMA | 5152 | 10EMA | 5106 |
| prev HI | 5290 | 13EMA | 5100 |
| prev LOW | 5226 | 26EMA | 4999 |
| 20 DMA | 4992 | 20 Hr MA | 5157 |
| 200 DMA | 5201 | 50 Hr MA |
5115
|
POSITIONAL LONGS CAN BE TAKEN IF THE DAY CLOSE IS ABOVE 5200 NS.
4 comments:
As usual best presentation. Well done,Keep it up
Thanks Jiigs.
@ nath,
on Feb 1 you had enquired about the sensex charts. Yes there is a difference. In Monthly sensex chart the channel is not complete, whereas in weekly charts the channel is complete. I shall post the difference in Nifty and sensex charts this weekend if possible.
Thanks for bringing out this topic.
If you can arrange some write ups about the different bullish / bearish harmonic patterns like bat crab butterfly shark its scope and opportunity and your understanding about them, will be very convenient and extremely useful for us as the links which you have tagged are often very tricky or stereo typed
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