Bullish Crab Pattern:
Development of Bullish Crab Pattern.XA - 4531 - 5629
B - 5171 38.2% of XA - 5209 - DONE
C - 5499 - approx 70.7%(5494)- Done
Holding C, Proj for D:
78.6% -5241 - Done
113%- 5128
127% -5082
161.8% - 4968
224%- 4764
The 113% projection of 5128 is very important as it corresponds to the Long term channel Support. A Bounce off this level is likely if the Channel Support is respected.
If the Channel support is broken NS will drop down to the 127% projection 5082 corresponding to 100 DMA and the downward channel support.
To continue within the Contracting triangle NS must trade above 5210. The Channel support comes to 5080 levels.
Hour channel Suports:
CHANNEL SUPPORTS:
5171 - 5164CHANNEL SUPPORTS:
5080-70
If the channel support is respected at 5171 - then the Bearish Gartley Pattern(Click Here) formed in Hour Charts would continue. Below 5171 it would be a Bearish Shark Pattern.
OX - 5629 - 5171
A - 5499 - 70.7% OF OX
with Proj for B as:
113% - 5128
127% -5082.
SYNOPSIS:
TODAY'S TRADING LEVELS:
5210/5171/5128/5082.
Aggressive Sell Below 5210 with Day LEMA as SL.
Aggressive buy at 5171 with Hourly close below 200 DMA @ 5164 as SL
Aggressive BUY at 5128 levels with EOD close below 5082 - 100 DMA as SL.
FOR BANK NIFTY CHARTS CLICK HERE
| Week levels | Week Developing levels | ||
| CLOSE | 5318 | CLOSE | |
| PIVOT | 5374 | PIVOT | 5269 |
| HI EMA | 5452 | HI EMA | 5425 |
| LOW EMA | 5248 | LOW EMA | 5234 |
| 5 EMA | 5338 | 5 EMA | 5302 |
| 5 SMA | 5401 | 5 SMA | 5334 |
| PrevHigh | 5499 | High | 5372 |
| Prev Low | 5305 | LOW | 5206 |
| CHECK LIST-DAY | |||
| CLOSE | 5228 | 5 SMA | 5289 |
| PIVOT | 5273 | 5EMA | 5295 |
| HI EMA | 5376 | 10EMA | 5317 |
| LOW EMA | 5251 | 13EMA | 5324 |
| prev HI | 5386 | 26DEMA | 5321 |
| prev LOW | 5206 | 20 Hr MA | 5305 |
| 50 DMA | 5262 | 100 DMA | 5079 |
| 200DMA | 5164 |
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