ANALYSIS FOR APRIL 30

INTRADAY UPDATE 2.20pm:

If Trendline support is respected then good upmoves.

ANALYSIS FOR APRIL 30:

NIFTY closed with a Doji on friday depicting indeciseiveness. The weekly candle has alco formed an INSIDE DAY pattern - again depicting indesiciveness.

Today being the monthly close is an important day to trigger reversal or continuation of downtrend.

BEARISH FACTORS as per TA:
1. BEARISH ALLIGNMENT OF ALL DAY EMA'S - 5,10,13 AND 26.
2. FAST FALL SET UP OF 100 DMA AND 200 DMA
3. BEARISH ALLIGNEMENT OF ALL HOUR MA'S - 20,50,100 AND 200 Hr MA'S. - likely to lead to a fast fall between the MA'S.

BULLISH FACTORS:
1. PERSISTENT +VE DIVERGENCE IN HOUR CHARTS OF FMACD, 14 RSI AND 9RSI.
2. NIFTY CLOSING ABOVE THE WEEK AND DAY LEMA'S


NIFTY has to close EOD above 5245 DAY HEMA - channel breakout levels also corresponding to 20 DMA.

Week levels		Month Levels
CLOSE	5191	CLOSE
PIVOT	5218	PIVOT	5241
HI EMA	5339	HI EMA	5415
LOW EMA	5187	LOW EMA	5012
5 EMA	5252	5 EMA	5198
5 SMA	5261	5 SMA	5139
PrevHigh	5311	High	5379
Prev Low	5154	LOW	5154

CHECK LIST-DAY
CLOSE	5191	5 SMA	5238
PIVOT	5189	5EMA	5209
HI EMA	5243	10EMA	5229
LOW EMA	5179	13EMA	5236
prev HI	5223	26DEMA	5256
prev LOW	5154	20 Hr MA	5195
10 DMA	5245	50 Hr MA	5240
20 DMA	5256	100 Hr MA	5247
50 DMA	5319	200 Hr MA	5259
100 DMA	5130
200 DMA	5136

POSSIBLE POSITIONAL TRADES:
BUY ABOVE 5220-5230(MONTH 5EMA AND CHANNEL BREAKOUT)WITH SL 5175- (DAY LEMA)