NIFTY ANALYSIS

Nifty supported at 6150 levels. Holding 6145 - a pullback rally can be expected.

DAY VALUES
HIGH	6183	5 EMA	6211
LOW	6146	10 EMA	6217
CLOSE	6155	5 DMA	6240
HI EMA	6246	10 DMA	6243
LEMA	6198	34 Hr MA	6243

There are cluster of resistances at 6220 - 6240 by way of Moving averages.
The retracements for 6415-6145 are as follows:

retr for  6415 - 6146

23.6% - 6209
38.2% - 6248
44.7% - 6266
50% - 6280
61.8% - 6312.24
78.6% - 6357

The Reciprocal ABCD pattern(Click Here) is valid only till 6140 is not breached.

The retracements along with the TA parameters would help in identifying the booking out levels. Generally this pattern retraces 38.2% - 50%.

The Day resistances are near 6230-40 levels. EOD Close above this level would provide a chance for Nifty to move higher. If resisted at this levels, then fall below 6145 - would become unavoidable.

TRADE	STOPLOSS	REASON
Bought at 6170NS on 13/12	EOD close below 6150	10 Wk SMA, Week channel& dayTrendline support and Completion of Reciprocal ABCD pattern
Part book near 6230-6240 levels