ANALYSIS FOR FEB 13

  
Nifty managed a Pull back on account of the ST in Oversold nature and persistent + divergence in Hour charts. A close above the Day Lema has called for a pause in the down movement. Cluster of resistances at 5950-60 by way of Day HiEMA, 10 DMA & 50 DMA.

A Fast Rise possibility exists between 10 DMA and 50 DMA - which will show its full effect if the EOD Close is above 50 DMA. Capturing 50 DMA and a close above it would make Bulls happy.

DAY VALUES
HIGH	5928	5 EMA	5928
LOW	5886	5 DMA	5924
CLOSE	5923	10 DMA	5966
50 Hr MA	5948	50 DMA	5960
100 Hr MA	5999	HI EMA	5953
		LEMA	5906

The Hour Charts signals a Channel breakout and the retracements from 6112 - 5879 are:

23.60%	38.20%	44.70%	50.00%	61.80%
5979.83	6005.09	6016.33	6025.50	6045.91

The indicators of Day charts (5D & 9RSI) are also OverSold in nature - favouring a bounce. The breakdown of the falling wedge is currently supported by the channel.

But just oversold nature  alone won't count for a good uprun as the week TF is down and showing consistent -ve Divergence and a channel breakdown. Always giving weightage to higher TF is essential and this week's close above the week 5 EMA (again in the range 5950-5960) is essential for further upmoves.

AGGRESSIVE TRADE	STOPLOSS	REASON FOR TRADE
Buy above 5930 NS	Hour close below 5920	Day Lema, Day 5 DMA
PARTBOOK AT 5955-60 AND TRAIL THE SL TO EOD CLOSE BELOW 5920