ANALYSIS FOR APRIL 30

INTRADAY UPDATE 2.20pm:

If Trendline support is respected then good upmoves.

ANALYSIS FOR APRIL 30:

NIFTY closed with a Doji on friday depicting indeciseiveness. The weekly candle has alco formed an INSIDE DAY pattern - again depicting indesiciveness.

Today being the monthly close is an important day to trigger reversal or continuation of downtrend.

BEARISH FACTORS as per TA:
1. BEARISH ALLIGNMENT OF ALL DAY EMA'S - 5,10,13 AND 26.
2. FAST FALL SET UP OF 100 DMA AND 200 DMA
3. BEARISH ALLIGNEMENT OF ALL HOUR MA'S - 20,50,100 AND 200 Hr MA'S. - likely to lead to a fast fall between the MA'S.

BULLISH FACTORS:
1. PERSISTENT +VE DIVERGENCE IN HOUR CHARTS OF FMACD, 14 RSI AND 9RSI.
2. NIFTY CLOSING ABOVE THE WEEK AND DAY LEMA'S


NIFTY has to close EOD above 5245 DAY HEMA - channel breakout levels also corresponding to 20 DMA.

Week levels		Month Levels
CLOSE	5191	CLOSE
PIVOT	5218	PIVOT	5241
HI EMA	5339	HI EMA	5415
LOW EMA	5187	LOW EMA	5012
5 EMA	5252	5 EMA	5198
5 SMA	5261	5 SMA	5139
PrevHigh	5311	High	5379
Prev Low	5154	LOW	5154

CHECK LIST-DAY
CLOSE	5191	5 SMA	5238
PIVOT	5189	5EMA	5209
HI EMA	5243	10EMA	5229
LOW EMA	5179	13EMA	5236
prev HI	5223	26DEMA	5256
prev LOW	5154	20 Hr MA	5195
10 DMA	5245	50 Hr MA	5240
20 DMA	5256	100 Hr MA	5247
50 DMA	5319	200 Hr MA	5259
100 DMA	5130
200 DMA	5136

POSSIBLE POSITIONAL TRADES:
BUY ABOVE 5220-5230(MONTH 5EMA AND CHANNEL BREAKOUT)WITH SL 5175- (DAY LEMA)

ANALYSIS FOR APRIL 27

IMPORTANT  LEVELS TO WATCH EOD TODAY:

MONTH 5 EMA -5201
WEEK -
CURRENT LEMA - 5189
CURRENT 5EMA - 5252
DAY:
5 EMA -5217
DAY LEMA - 5191

Analysis for april 16

200 DMA - 5148.  Prev Low 5135. Holding above this level on closing basis is a necessity for futher upmoves. If EOD closing is above the Day LEMA of 5217 -  it would be first sign of pause of downmove.

Hourly charts exhibit + divergence:

Week levels
CLOSE	5207
PIVOT	5227
HI EMA	5359
LOW EMA	5213
5 EMA	5279
5 SMA	5284
PrevHigh	5307
Prev Low	5185

CHECK LIST-DAY
CLOSE	5207	5 SMA	5238
PIVOT	5233	5EMA	5244
HI EMA	5293	10EMA	5257
LOW EMA	5217	13EMA	5262
prev HI	5307	26DEMA	5292
prev LOW	5185	10 DMA	5261
20 DMA	5269	100 Hr MA	5254
200 DMA	5148	200 Hr MA	5295

20 Hr MA	50 Hr MA	100Hr MA	200Hr MA
5,253	5,279	5,255	5,296
5,253	5,276	5,254	5,295

FEW CHARTS OF APRIL 12

Bank Nifty Futures 5 min Chart:

Breakout above today's high 10455 BNF.

DAY CHARTS 5D:

NIFTY DAY SUPPORT RESISTANCE:

BREAKOUT ABOVE 5310-20 NS
NIFTY HOUR CHART:

Analysis for April 10

Nifty yesterday formed a Huge red candle confirming the Bearish Baby Candle Pattern (April 9 chart ref. CLICK HERE) and closing below the Day Pivot, 5 EMA and Day HEMA. Close below the Day LEMA would lead to more downsides.

Below is the chart showing support levels of Nifty for this week

FIRST TRENDLINE SUPPORT - 5170 - 5180 - 200 DMA
TRIANGLE SUPPORT - 5100 - 5120 -  40 week MA
CHANNEL SUPPORT - 5050-5070 - 100 DMABreakdown below 5050 leads to 4950 levels -Month LEMA - 61.8% retracement for 4531 - 5629

The Bearish Shark Pattern will be invalidated below 5136 and it would form a Bullish ABCD again and would be labelled as:A-B- 5499-5136
C - 5379 - 61.8% OF AB
Proj for D:
113% - 5104
127% - 5070
161.8% - 4985

THE PROJECTIONS FOR D COINCIDES WITH THE SUPPORT LEVELS PROVIDED IN THE DAY CHART ABOVE.

AS THE HOUR IS OVERSOLD THERE MIGHT BE A BOUNCE FROM THE SUPPORT LEVELS OF 5180 -5200 INITIALLY OR THE 200 DMA -5151.
SO AN AGRESSIVE BUY CAN BE GENERATED AT THESE LEVELS WITH STRICT SL BELOW 200 DMA 5151.

CHECK LIST-DAY
CLOSE	5234	5 SMA	5306
PIVOT	5250	5EMA	5282
HI EMA	5314	10EMA	5281
LOW EMA	5231	13EMA	5284
prev HI	5288	26DEMA	5292
prev LOW	5228	10 DMA	5261
100 DMA	5079	100 Hr MA	5270
200 DMA	5151	200 Hr MA	5312

ANALYSIS FOR APR 9

Nifty has closed just near the Day Pivot and week Pivot. Nifty has formed an Bearish abandoned Baby pattern.

BEARISH ABANDONED BABY -
Look for a white candle in an upward price trend. Following that, a doji whose lower shadow remains above the prior candle’s high. The third day is a black candle with an upper shadow below the doji’s low
As per the above chart the upper shadow of the last candle is below the low of the previous day's candle with a gap down - giving the possibility of a Bearish Abandoned Baby - but it is formed as a spinning top - So a big red candle for follow up would confirm the pattern.

Nifty Has managed to close just at the Day 5EMA. The 10,13 AND 26 EMA'S are Bearishly alligned with a Possible Fast Fall set up. A Close below the Day 5 EMA would call for weakness.


Harmonic Patterns:

After completing a Bullish ABCD pattern in Hour Charts at 5136 - a 61.8% retracement is done to reach 5379.  If Nifty manges to get thro 5380 - breakout above the Day channel and trendline resistance of Hour Charts then the Bearish Shark Pattern (ref chart Mar 23 CLICK HERE) would come into play for much higher targets upto 5550++.

The Long term channel (ref chart March 23 Click here) has given good supports at 5136 lows, and has reached 5379. A Breakout above this is very much required for a good upmove.



WEEK CHART:

SYNOPSIS: A move above 5380 - corresponding to week Hema would Lead to good upmoves. Day/Week close below 5225 would lead to weakness.

Trading Time between 5380 and 5220.
                            

Week levels		Month Levels
CLOSE	5323	CLOSE	5296
PIVOT	5327	PIVOT	5310
HI EMA	5386	HI EMA	5434
LOW EMA	5227	LOW EMA	4940
5 EMA	5315	5 EMA	5201
5 SMA	5310	3 EMA	5247
PrevHigh	5379	High	5499
Prev Low	5279	LOW	5136

CHECK LIST-DAY
CLOSE	5323	5 SMA	5295
PIVOT	5322	5EMA	5306
HI EMA	5327	10EMA	5291
LOW EMA	5274	13EMA	5292
prev HI	5338	26DEMA	5297
prev LOW	5305	100 Hr MA	5279
50 DMA	5324	200 Hr MA	5320
20DMA	5300