Today Being week close, A close below the Week HEMA @ 5699 would weaken Nifty. Strength if closed above the Day HEMA 5727.
WEEK CHARTS:
If the -VE divergence in weekly charts comes to play then more downsides would be seen.
If the -ve
divergence comes to play then Nifty would be dragged further down towards channel bottom.
Day CHARTS:
CHANNEL RESISTANCE - 5720-30
Fibonacci retr for 5537-5815 :
61.8% - 5643 - approx 20 DMA
78.6% - 5596
88.6% - 5568
Fibonacci retr for 5815 - 5636
38.2% - 5704
44.7% - 5716
50% - 5726
61.8% - 5747
Hour Chart:
An Descending Triangle
formation.
Channel/ triangle breakout - above 5720
First Support - 5670
Ascending Triangle Support - 5640 - 5635
SYNOPSIS:
Buy above 5725 with SL 5708 - 10 DMA - Triangle Breakout.
Sell below 5635 with SL 5647 - 20 DMA - Triangle Breakdown.
Trade between 5640/70 - 5710/30
| CHECK LIST-DAY | Developing Week Levels | ||||
| CLOSE | 5708 | 5 SMA | 5698 | CLOSE | |
| PIVOT | 5689 | 5EMA | 5697 | PIVOT | 5699 |
| HI EMA | 5727 | 10EMA | 5688 | HI EMA | 5699 |
| LOW EMA | 5661 | 13EMA | 5673 | LOW EMA | 5568 |
| prev HI | 5721 | 50 Hr MA | 5716 | 5 EMA | 5653 |
| prev LOW | 5637 | 100 Hr MA | 5697 | 5 SMA | 5685 |
| 10 DMA | 5708 | 200 Hr MA | 5542 | ||
| 20 DMA | 5647 | PrevHigh | 5752 | ||
| Prev Low | 5637 |
3 comments:
GOOD MORNING. and THANKS for your inputs.
Good Morning Mam,
What a coincedance that yesterday night i mail to master about -ve div. on day. and you posted a chart.
Dear sister
To day so many times,NS taken suports from 1st SUPORT LEVEL of 5670 Is it advisable to go long there on MONDAY,today i coverd my NF SHORTS @5698 for loss of 10 points.YOUR ADVICE PLEASE.
UNGAL ADVICE KAAGA KATHIRPEAN
VANNAKAM.(I AM NATIVE OF PUTTUR TOWN NEAR TIRUPATHI,THATS WHY I KNOW TAMIL WE ARE HAVING SO MANY RELATIVES AT MADRAS.I AM 65years old.NOW WE ARE RESIDING AT HYDERABAD FOR TIME BEEING)Shortly we are coming back to my native town.
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