NIFTY ANALYSIS and TATAMOTORS ANALYSIS

Nifty found support from the 200DMA @5971 and has rallied upto 6160 and  has closed below the Day HEMA thereby indicating sell on rise.

A 5-0 pattern is almost complete in day charts @6160. This Pattern would be invalid above 6194 - 61.8% retracement of 6358 - 5933.

To Know about 5-0 pattern  CLICK HERE

The truncated XABCD Bearish crab, has formed a Bearish 5-0 pattern as OXABCD

OX - 6139-6346

A - 6243

B - 6356 -  approx 113% of XA

C - 5933 - 361.8% of AB

D - 6160 - 50% of BC

The point D always lies in-between 50% and 61.8% - but not above 61.8% - So, This Pattern would be invalid above 6194 - 61.8% retracement of 6358 - 5933.

 Bear Flag/ Channel Support @ 6050

Breakdown below 6050 - very Bearish.

Breakout above 6140-6150

The Long position taken on feb 5th at 5990NS/6005NF must be booked out anywhere between 6100-6120.

TRADE	STOPLOSS	REASON
Sell below 6120 NS	EOD close above 6150	Day HEMA/100 DMA
Buy above 6150 NS	EOD close below 6120	Day HEMA/100 DMA

Another possibility is:

Buy above 6050 NS

EOD close below 6030

Week LEMA/Channel Support

TATAMOTORS ANALYSIS:

 Breakout above 392-395 - if resisted then, Retracements for 332-395 are:

 23.6% - 380.13

38.12% - 370.9

44.7% - 366.84

In Hour Charts :

If iv wave - then a swift upmove on breakout above 395 targetting 400 - 405++

If C wave then down to 380-- levels on breakdown of 391

TRADING RANGE BETWEEN 391-395.