Analysis for Sept 28

Nifty opened on sept 27 near the Day Lema and Week Lema(4888)  providing a good entry point for Longs. It rallied almost upto Day Hema and closed just below it. Gap up might be possible and the 61.8% retr may be reached initially at 5012 levels.

This is another good entry point with the Day hema at 4988 and a SL can be trailed to a close below 4980.





At 5012 the 61.8% retr gets complete and if the hour close is above it then the SL could be trailed to Day Hema @ 4988.

Retracements with TA parameters:

Important TA parameters for retracements
100 Hr MA	61.80%	5012.00
10 Week MA	70.70%	5048.60
34 Day MA	76.40%	5072.00
Month Pivot	78.60%	5081.00

All the above TA parameters are not the exact values but the nearest value.

Important parameters of the Day:

CHECK LIST-DAY
CLOSE	4971
PIVOT	4953	5EMA	4945
HI EMA	4988	10EMA	4977
LOW EMA	4890	13EMA	4987
5 SMA	4946	26EMA	5033
20DMA	5027	prev HI	4983
50 DMA	5170	prev LOW	4905
50Hr MA	4990
100Hr MA	5015

Trade Table:

	Trades Initiated
Current pattern	X - A
Developing Bearish Pattern	5169 - 4758
Trade initiated	SL Hr close below 4950(Day Pvt,5Ema)
Bought at 4910 NF on sept 27	Retr of XA for B
	38.20%	4915.00	DONE
	50.00%	4963.00	DONE
	61.80%	5012.00	Trail SL to DHema
	70.70%	5048.60	Book PP
	76.40%	5072.00	Book Profits
	78.60%	5081.00	Book profits
when Hour closes abv Day Hema - trail SL to Day Hema.

Intraday Update: 11.00AM

Stoploss triggered at 4950NS close at 11.00 AM

Intraday Update :11.30AM

Taken a short for intraday with SL close above the Day pivot of 4953. Would book partially near the DAy Lema of 4890 NS. If closed below 4890 would continue shorts else square off the position.

Based on the retracements in NS a Bearish gartley has formed and in NS a Bearish Bat has formed. The shorts should be carefully watched at DAy Lema 4890 levels and it would be prudent to cut 50% shorts at these levels. As NS has fallen from the High nealy equal to DAy Hema  - a pause would be likely at Day lema.



Shorts at these levels must be HANDLED with CARE.

Bullish crab pattern in 5min NF:

The retracements for BC are:

61.80%	4929.95
76.40%	4923.09
78.60%	4922.06
85.40%	4918.86
94.43%	4914.62
94.43%	4914.62
127.00%	4899.31
161.80%	4882.95
200.00%	4865.00
224.00%	4853.72
261.80%	4835.95
361.80%	4788.95

The low formed as D of this pattern would be the C for the Bearish BAT.