EW with HARMONICS

Analysis for Nov 25:

Week levels		Developing
CLOSE	4906
PIVOT	4991	PIVOT	4756
HI EMA	5261	HI EMA	5132
LOW EMA	4995	LOW EMA	4876
5 EMA	5088	5 EMA	4978
5 SMA	5154
PrevHigh	5229
Prev Low	4838

CHECK LIST-DAY
CLOSE	4756
PIVOT	4722	10EMA	4902
HI EMA	4852	13EMA	4941
LOW EMA	4738	26EMA	5015
5EMA	4805	prev HI	4771
5 SMA	4892	prev LOW	4639
50DMA	5035	20 DMA	5093
20 Hr MA	4737	50 Hr MA	4852

TRADE TABLE :



	Trade Table
Current pattern	O-X	A	B(current)
Bearish Shark pattern	5740 - 4720	5400	4639
Trade initiated	SL close below DayPivot 4722NS
Bought at 4720 NF	Projections for C		If 4639 breaks then proj for B
	23.60%	4818.00	127%% of XA	4536.00
	38.20%	4929.00	141.40%	4438.00
	44.70%	4979.00	161.80%	4299.00

EW with HARMONICS:

BEARISH SHARK PATTERN IN WEEKLY CHART NOV 24

A low of 4640 is made. An analysis with regards to the importance of the low.



A bearish Shark Pattern has developed in weekly charts.

Considering :-

OX - 5740 - 4720
A = 5400 = 61.8%retr of OX
B (current) = 5642 - 113% retr of OX
If 4640 breaks then next B would be:
127% of XA = 4536
161.8% - 4299

Holding the low of 4640, the next Projections for C are,

Proj for C:
23.6% - 4820
38.2% -4931



The Day chart shows bottoming out and is likely to close above the DAy Lema of 4734 - which is one of the few signs of Short term reversal.
The Hourchart has shown a breakout of the Falling wedge/channel.

with a breakout above the Faliing wedge and due to the 113% retracement in weekly charts, today a buy was initiated at 4725 DEC NF.





ANALYSIS for NOV 24

IS IT WISE TO CATCH A FALLING KNIFE ?? WAITING FOR A PROPER ENTRY. WOULD UPDATE LATER

Intraday Update 1.00PM:

A close above 4705 would lead to a breakout above the FALLING WEDGE and channel.

Analysis for Nov 23

After continuously making new lows daily from Nov 8th onwards, yesterday NS made a higher Low (4782) than nov 21(4764). This does not indicate any bottoming but it might indicate a pause in down movement - unless it breaches the low today.

It was not able to close above the pivot of 4816 - exhibiting weakness.



The Falling wedge seemed to have broken out yesterday only to be resisted by the channel at yesterday's high at 4854. The channel breakout for today would be above 4840-50 and a close above it. The 35D indicator is remainingin the OS levels for quite some time and nearing near the 20 Mark.

The 14 Hr. RSI broke out of the downward sloping channel yesterday indicating a ST breakout. This will sustain if NS does not make a new low - else it would again fall back to the channel.

CHECK LIST-DAY
CLOSE	4812
PIVOT	4816	10EMA	4985
HI EMA	4995	13EMA	5016
LOW EMA	4900	26EMA	5062
5EMA	4890	prev HI	4854
5 SMA	4892	prev LOW	4783
50DMA	5051	20 DMA	5156
20 Hr MA	4838	50 Hr MA	4981

	Trade Table
Current pattern	X-A	B(current)
Developing Bullish Pattern in DAY TF	4728 -5400	4765
Trade initiated
NIL	Projections for C		If 4765 breaks then proj for B
	23.60%	4914.00	94.43% of XA	4765.00
	38.20%	5007.00	100.00%	4728.00
			113.00%	4640.00

Yesterdays long was booked at 4850NS - channel resistance.

Analysis for Nov 22

Intraday Update 11.00AM:

Bought at 4815 NS with SL Close below 4800 - Day pivot


Nifty has been making new lows daily form Nov 4th onwards. Yesterday it has reached 4765 - corresponding to 261.8% of wave a as per EW count and 94.43% of XA as per Harmonics count.

joining the lows of 4720-4728 the trendline support comes to 4750-40. Breaking of this support Nifty is likely to break its previous lows. Owing to the extreme OS nature of the Hour charts and Day charts and also a fall of approximately 450-470 points - markets need to take a breath - consolidate.

The chance for an intraday bounce can be converted to positional only if NS starts trading above the pivot of 4806 and closes well above it.



CHECK LIST-DAY
CLOSE	4778
PIVOT	4806	10EMA	5023
HI EMA	4995	13EMA	5050
LOW EMA	4900	26EMA	5082
5EMA	4929	prev HI	4874
5 SMA	4944	prev LOW	4765
50DMA	5056	20 DMA	5156
20 Hr MA	4893	50 Hr MA	5031

	Trade Table
Current pattern	X-A	B(current)
Developing Bullish Pattern in DAY TF	4728 -5400	4765
Trade initiated
NIL	Projections for C		If 4835 breaks then proj for B
	23.60%	4914.00	94.43% of XA	4765.00
	38.20%	5007.00	100.00%	4728.00
			113.00%	4640.00

BUY AT 4750-80 RANGES WITH STRICT SL 4720NS - TO BE CONVERTED TO POSITIONAL IF TRADING ABOVE PIVOT AND CLOSE ABVOE PIVOT



ANALYSIS FOR NOV 21

Back to work :) after 5 days of viral attack. Hope the forthcoming days would be fruitful!!

Nifty has reached a low of 4835 on Friday which exactly touches the weekly chart trendline and bounced back to close at 4905 above Days Pivot. Breaking of 4835 would lead Nifty to new lows.

The next possible wave c as per EW count is :

wave c = 261.8% of wave a = 4775.

As per Bullish pattern, the next projections for B are,

 B(current) = 4835 = 85.4% of XA

                                 88.6% of XA = 4804

                                 94.3% of XA = 4765.4 = approx = 261.8% of wave a as per EW count.

                  

Week levels
CLOSE	4906
PIVOT	4991
HI EMA	5261
LOW EMA	4995
5 EMA	5088
5 SMA	5154
PrevHigh	5229
Prev Low	4838

CHECK LIST-DAY
CLOSE	4906
PIVOT	4887	10EMA	5077
HI EMA	5056	13EMA	5095
LOW EMA	4967	26EMA	5106
5EMA	5005	prev HI	4916
5 SMA	5018	prev LOW	4838
100 DMA	5206	20 DMA	5156
50DMA	5061
20 Hr MA	4960	50 Hr MA	5095

	Trade Table
Current pattern	X-A	B(current)
Developing Bullish Pattern in DAY TF	4728 -5400	4835
Trade initiated
NIL	Projections for C		If 4835 breaks then proj for B
	23.60%	4968.34	85.4% of XA	4826.00
	38.20%	5050.80	88.6% of XA	4804.60
			94.43%	4765.00