Analysis for Sept 25

Nifty is correcting from the New Highof 5720. With three more trading sessions for expiry, bulls would not give up easily, and 5600NS is likely to be protected.  If the Day Closes below the Day HEMA 5648, then it is likely to test 5600-5580 - Day LEMA.

Today's Channel supports are at 5630-20NS Channel Resistances - 5710-20

The Hour charts are also exhibiting -ve divergences - which indicates caution at High Levels.

SYNOPSIS;
Hold Shorts initiated yesterday at 5705NS with SL 5710NS
Take aggressive Longs at 5620-30 levels with SL 5580 NS.

CHECK LIST-DAY
CLOSE	5670	HI EMA	5648
PIVOT	5681	LOW EMA	5580
prev HI	5710	50 Hr MA	5587
prev LOW	5663	100 Hr MA	5449
5EMA	5618	5 SMA	5625
10EMA	5547	10 DMA	5532
13EMA	5516	20 DMA	5410

BANK NIFTY CHARTS:

CHANNEL/RISING WEDGE SUPPORTS AT 11350