ANALYSIS for DEC 2

Intraday Update 3.00 pm:
INTRADAY and POSITIONAL shorts squared off.

INTRADAY UPDATE 1.30PM:
Shorted aggressively (for Intraday) at 5010 NS with SL Hour close above 5020 -  50 DMA.

AS expected NS opened with  huge GAP up yesterday and has closed above the Day Hema but lower than Day Pivot. It has also closed well above the Week Lema but below the Week 5EMA. If NS manages to Close above the week 5EMA today then we could see more upsides.

Week levels		Developing levels
CLOSE	4710	CLOSE
PIVOT	4741	PIVOT	4901
HI EMA	5132	HI EMA	5092
LOW EMA	4876	LOW EMA	4836
5 EMA	4962	5 EMA	4954
5 SMA	5086	5SMA	5001
PrevHigh	4874	10 EMA	5014
Prev Low	4639

Analysis for Dec 1

Intraday Update 2.20PM:
Partbooked at 4920NS - 4940NF.

Intraday Update:
Shorted aggressively at 5000NF with SL 5020NS 50 Dma and 50% retr of 5400 - 4639.


Pre Market view Dec 1 2011:
Owing to Global clues NS is likely to give a huge gapup near 4980 -5000 ranges which coincides with the alternate 1 scenario and the Bearish shark pattern of Day TF.

The 50 SMA comes to 5020. It is important to watch this level.

ANALYSIS FOR DEC 1:
Nifty made a High near the Day Hema and Low near the Day Lema and closed below the Day Hema but above Pivot and 5 EMA showing upward momentum. It has closed just at the Month Lema of 4833.

Month Levels
CLOSE	4832
PIVOT	4933
HI EMA	5431
LOW EMA	4833
5 EMA	5126
3 EMA	5026
PrevHigh	5326
Prev Low	4639

Analysis for Nov 30

Intraday Update 2.00PM:

Closed the Longs at 4850NF as a Bullish Gartley pattern is formed in Hour charts . Shorted at 4850NF.Immediate target for bullish gartley pattern is of the range 4721-4740.

The charts with EW count and Bullish pattern would be updated later. Not able to load due to connectivity problem

Analysis for Nov 29

Intraday update 3.00 PM:

Nifty Hour in channel support at today's low of 4787.

Analysis for Nov 28

Intraday update 3-25

NS likely to close above 4835 hence shorts are terminated and longs initiated at 4845NS i.e - 4860NF.


Intraday Update 1.45 PM:
 Booked full profits at 4820NS i.e - 4835 NF.

Trendlineresistance @ 4835 Month Lema @ 4833, Day Hema @ 4824 all provide a cluster of resistances.
As per EW count the iv wave is likely to get over at 4825-35.
23.6% retracement is over for the downmove from 5400-4640.

Initiated shorts at 4830NF with SAR close above 4835NS.