Analysis for Oct 31

Due to the Huge gapup opening on Friday NS reached near the much awaited 200 DMA to make a high of 5400.

WEEK Chart:

As per the Week  and Day TF,                                 

WEEK TF	DAY TF
Bearish Crab Pattern:	Bearish Shark Pattern:
XA - 5740 - 4720	OX - 5168 -4728
B - 5169 approx 44.7% retr of XA	A = 5034 - approx 61.8% retr
C - 4728 - Approx 100% retr of AB	B = 4728 - 113% of XA
Projected D's:	Projected C's:
141.4% - 5351.5	161.8% of AB - 5223
161.8% - 5441	113% of OX - 5223
200% - 5610	224% - 5413
224% - 5715	161.8% of OX - 5423

The 161.8% projection of weekTF @ 5441 exactly reaches the trendline joining the Highs from 6338 onwards. Further upward momentum will be on a close above the trendline (@ 5450) from which the DAy TF ends and the Week Tf would play its role for targets upto 5700 levels.

Profit Booking is likely near the 200 DMA levels. So initially considering the Hour TF,

the projections for the wave 5011 -5400 (if 5400 Holds - else the new High will be A)

	23.60%	5308.00	Day S2
Projections for 5011-5400	38.20%	5251.00	Day HEMA
	44.70%	5226.00	Day 5EMA
	50.00%	5205.00	Week Hema

So based on all the above factors, Shorts can be initiated at 5400-5420-5440 levels with SL of close above 5450.

Month Levels		Developing
CLOSE	4943
PIVOT	5163	PIVOT	5163
HI EMA	5526	HI EMA	5484
LOW EMA	5031	LOW EMA	4930
5 EMA	5350	5 EMA	5285
5 SMA	5383	5 SMA	5287
PrevHigh	5169
Prev Low	4759

Week levels			CHECK LIST-DAY
CLOSE	5361		CLOSE	5361
PIVOT	5282		PIVOT	5361	10EMA	5153
HI EMA	5206		HI EMA	5251	13EMA	5127
LOW EMA	4956		LOW EMA	5177	26EMA	5076
30wk MA	5350		5EMA	5218	prev HI	5400
40WK MA	5383		5 SMA	5180	prev LOW	5323
PrevHigh	5400		100 DMA	5240
Prev Low	5085		200 DMA	5409
			20 Hr MA	5208	50 Hr MA	5131

	Trade Table
Current pattern	O-X	A	B	C(current)
Bearish Shark Day TF	5169-4758	5034	4728	5400
Trade initiated
NIL	Proj of BC with C @5400		Abv 5400next levels
	23.60%	5241.00	224% of AB	5415.00
	38.20%	5143.00	161.8% of OX	5423.00
			224% of OX	5678.00

As per week TF the 161.8% projection for 4169-4728 comes to 5441.
Sell at levels near 5400-5420-5440 NS with SL Close above 5451 NS