Analysis for July 11:
Nifty has closed above the Pivot, Day Hema and 5 EMA. It has almost reached the top of the Rising wedge with Month HEMA at 5342 as a big resistance,
DAy charts and Hour Charts also exhibits -ve divergence and are in OverBought zone. So Caution with Longs is a must.
Aggressive Shorts taken at 5330 NS with SL Hourly close above 5345. It would be carried as positional Shorts if the EOD close is below 5345-50NS.
| CHECK LIST-DAY | |||
| CLOSE | 5345 | 5 SMA | 5313 |
| PIVOT | 5326 | 5EMA | 5307 |
| HI EMA | 5320 | 10EMA | 5270 |
| LOW EMA | 5269 | 13EMA | 5249 |
| prev HI | 5349 | 20 Hr MA | 5301 |
| prev LOW | 5285 | 50 Hr MA | 5297 |
| 10 DMA | 5270 | ||
| 20 DMA | 5193 |
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