NIFTY and TATAMOTORS ANALYSIS

Nifty made a High of 6282 on Friday but closed below the Month Hema and crucial resistance level of 6290-6300.

Resistance at 6280-90.
Support at 6180-90 - 50 DMA.
If supported quick move towards 6300++
Breakdown below 6180 - 50 DMA and EOD close below it is very bearish - likely to lead below 6100 levels.

As the weekly TF gained predominance the 5-0 pattern of day charts (CLICK HERE) got invalidated.

Crucial resistance is @ 6290-6320 Month HEMA. - corresponding to 70.7% retr - 80% retracement.

Nifty resisted at 6280 levels and has reached 6212.

Holding the current High of 6282, development of a probable Bearish crab pattern:

XA - 6415 - 5932

B - 6282 - 70.7% of XA - current High - (If surpassed then again retr for 6415-5932 would be considered)

Proj for C:

38.2% - 6148.3

44.7% - 6125.55

50% - 6107

61.8% - 6065

80% - 60002

88.6% - 5971

In between 80 % - 88.6% retracement lies 200DMA.

Resisted at 6282. Breakout above 6290. Breakdown below 6190.

Holding 50DMA on EOD basis is required for an upmove. - If supported, then a swift move towards 6300 ++ is highly probable

Channel resistance - 6300.

Breakdown below 6200-6190- 50 DMA

If supported at 6180- 6190 then upmove continues.

TATAMOTORS - 

Holding 408 - another High towards 420 is possible.

Breakdown of 408 would lead to the Support line near 401

Breakdown of 400 would negate the possibility of New High