As per earlier view Partbooking was done at 5185 NF and rest was booked out totally at 5100NF. As per the 5-0 BULLISH PATTERN (CLICK HERE), THE 161.8% is complete with a high of 5190 today, and started to fall. If the 200 DMA is held in EOD close and subequently if the coming days close ABOVE 5100, then this upmove might continue till the next higher level of 200% or 224% - 5270 and 5330 respectively.
If the 200 DMA is not held, then further fall will lead upto the 50% retracement level for the upmove from 4770 - 5190 which amounts to 4980.
B - 4770 - 113% retr of XA
Projection for C:
113%retr of AB - 5052
161.8% retr of AB - 5174 -DONE
Present C -5190 - 161% retr of AB
Projection for D:23.6% - 5090
38.2% - 5029
44.7% - 5002
50% -4980
ANALYSIS FOR JUNE 18:
Nifty opened at 200 DMA and moved up and closed above the Week and Day Pivot and Hema's on Friday exhibiting bullishness.
Currently the 50 DMA - 5072 and 200 DMA - 5067 are poised very close such that it might lead to a good fast rise if Bulishness continues. Else if there is a close below 5100 for two consequtive days the 50 DMA would go below 200 DMA - which is popularly called a Death Cross (CLICK HERE) - a Moving Average of Short term Moving below the Long term Moving average.
| Trade Table | ||
| Current pattern | X-A | B(current) |
| 0-5 pattern and Butterfly pattern (week) | 4804 - 5020 | 4770 |
| Trade initiated | SL 200 DMA - 5065NS | |
| Re-entered LONG at 5080NF on june 15 | 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 | ||
| SL triggerred at 5090 NS on june 14 | ||
PARTBOOK AT 100 DMA LEVELS - 5190-5200
| Week Levels | |
| CLOSE | 5139 |
| PIVOT | 5100 |
| HI EMA | 5097 |
| LOW EMA | 4905 |
| 5 EMA | 5037 |
| 10 EMA | 5063 |
| PrevHigh | 5146 |
| Prev Low | 5015 |
| CHECK LIST-DAY | |||
| CLOSE | 5139 | 5 SMA | 5097 |
| PIVOT | 5118 | 5EMA | 5091 |
| HI EMA | 5122 | 10EMA | 5051 |
| LOW EMA | 5044 | 13EMA | 5035 |
| prev HI | 5146 | 20 Hr MA | 5105 |
| prev LOW | 5069 | 50 Hr MA | 5077 |
| 50 DMA | 5072 | 100 Hr MA | 4996 |
| 200 DMA | 5067 | 200 Hr MA | 4955 |
| 100 DMA | 5196 |
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