NIFTY ANALYSIS

Nifty has closed below the Day HEMA but above all other parameters. As mentioned earlier, yesterday from Day HEMA - it went down near Day LEMA and again back to day HEMA. - this trading range between Day HEMA and DAY LEMA - a very narrow range of 40 points must be resolved before any substantial move.

With the present scenario - it would be BUY near DAY LEMA @ +- 20 points SL OR sell NEAR DAY HEMA +-20 points SL.

Factors to be considered for a Buy:
1. Day/Hour Channel support @ 6275-70 - near DAYLEMA
2. Rising Three Candle Pattern - invalid below 6270.
3. Weekly TF is in buy mode

Factors to be considered for a sell:
1. EOD closed below DAY HEMA

DAY VALUES
HIGH	6327	5 EMA	6294
LOW	6280	10 EMA	6247
CLOSE	6308	5 DMA	6301
HI EMA	6323	10 DMA	6235
LEMA	6269	34 Hr MA	6300

TRADE	STOPLOSS	REASON
Aggressive - buy near 6260-70	Hour close below 6260	Day LEMA/Day Channel Support
Aggressive - sell near 6330	Hour close above 6340	Day HEMA