Analysis for june 14

Intraday update:

An EOD close above 200 DMA is very important for the upmove to continue.

INtraday Update:
Aggressive longs SL trigerred.

Intraday update 12.15 PM:

As per aggressive trade Bought at 5095NF with SL hour close below 5080NS - 50 DMA.



ANALYSIS FOR JUNE 14:

Nifty ended up with a DOJI following a Bullish engulfing candle depicting indecisiveness. It made a High of 5145  approx equal to 44.7% retr of the downmove from 5629 - 4770 (CLICK HERE for WEEK CHART)

HOUR BAR:

Bullish Possibilities:  If the Hour channel provides support at 5100 - Day HEMA then the upmove would continue - This would ensure the completion of BULLISH 5-0 pattern CLICK HERE with min target at 5174 NS - as 161.8% retr is a must for completion of the pattern else the pattern would be rendered invalid.

Bearish possibilities: So for Intraday an Hourly close below 5100 - corresponding to Day HEMA would be the initial onset of weakness to be supported by 50 DMA and 200 DMA at 5082 and 5064 respectively.
An EOD close below 50 DMA/200 DMA would pull Nifty down to below 5000 levels. - This would render the Bullish 5-0 pattern invalid.

SYNOPSIS: HOLDING OF 5100 - DAY HEMA IS THE KEY FACTOR. AN EOD CLOSE BELOW THIS LEVEL WOULD DRAG NIFTY NEAR 5000 LEVELS.

	Trade Table
Current pattern	X-A	B(current)
0-5 pattern and Butterfly pattern (week)	4804 - 5020	4770
Trade initiated	SL Day HEMA - 5100
Bought at 4830NF on june 4	Proj for C
	113.00%	5052.00
	161.80%	5174.00
	224.00%	5330.00
Partbooked at 5030 NF on june 7
Part booked at 5135NF on 13 June

AGGRESSIVE TRADE: Buy near 5085 - 5100 levels with SL Hourly close below 5080 - 50 DMA.Book out near 5165 - 5175 NS ranges.
The positional Longs would be terminated if EOD close is below 5100 -Day HEMA.

CHECK LIST-DAY
CLOSE	5121	5 SMA	5082
PIVOT	5121	5EMA	5074
HI EMA	5100	10EMA	5026
LOW EMA	5023	13EMA	5012
prev HI	5145	20 Hr MA	5096
prev LOW	5095	50 Hr MA	5024
50 DMA	5082	100 Hr MA	4973
200 DMA	5064	200 Hr MA	4953
100  DMA	5193