NS has reached a low of 4740 - corresponding to 20 DMA and Month Lema. So weakness would set in if this level breaks. So the SL ia trailed to an Hourly CLose below 4740 - 20 DMA.
If a fast fall of 20 MA with 100 MA occurs then the SL would be triggerred - and downward targets upto Day Lema - 4645.
If crossover occurs then the upmove would continue towards 200 Hr MA and above.
| 20 Hr MA | 50 Hr MA | 100Hr MA | 200Hr MA |
| 4,674 | 4,705 | 4,688 | 4,776 |
| 4,678 | 4,705 | 4,688 | 4,776 |
| 4,682 | 4,705 | 4,689 | 4,776 |
| 4,687 | 4,705 | 4,689 | 4,776 |
ANALYSIS FOR JAN 4:
Nifty crossed all resistances to form a high of 4773 -corresponding to 200 Hr MA and 26 DEMA and closed above the Day Pivot, Day Hema, Week Lema and Month Lema.
Unless there is a close below 4725 -Day Hema the uptrend is likely to continue. Holding 4725 - NS is likely to reach upto the 4801-4850 - week 5SMA.
Bearish Bat Pattern:
88.6% retr is achieved of the Bearish bat Pattern.
Bearish bat PATTERN:XA - 5099 - 4531
B - 4800 - approx - 50% retr of XAC (current) - 4588 - approx 78.6%retr of AB
Further Proj for D:
88.6% - 4776
100% - 4801
113% -4828
127% - 4858
As per the Charts below - if a breakout above 4775 occurs it is likely to take NS upto 4850-80 - Upper line of the Developing Falling Wedge.
In the Hour Chart below it would be a likely inverse H&S breakout above 4775.
NS has reached the 200 Hr MA - might find some intraday resistance at these levels.
| CHECK LIST-DAY | |||
| CLOSE | 4765 | ||
| PIVOT | 4738 | 10EMA | 4702 |
| HI EMA | 4724 | 13EMA | 4712 |
| LOW EMA | 4645 | 26EMA | 4770 |
| 5EMA | 4696 | prev HI | 4646 |
| 5 SMA | 4676 | prev LOW | 4588 |
| 20 DMA | 4740 | 100 Hr MA | 4688 |
| 20 Hr MA | 4670 | 50 Hr MA | 4704 |
| Positional | Trade Table | ||
| Current pattern | X-A | B | C(current) |
| Bearish Bat pattern Hour TF | 5099-4531 | 4801 | 4588 |
| Trade initiated | SL Close below 4725 DHEMA | ||
| Bought @ 4610 NF | Projections for D | ||
| 61.80% | 4720.00 | ||
| 88.60% | 4776.00 | ||
| 100.00% | 4801.00 | ||
| 113.00% | 4828.00 | ||
| 127.00% | 4858.00 |
| IMPORTANT TA parameters for projections | ||
| 88.60% | 4776.00 | 200 Hr MA/26 DEMA |
| 100.00% | 4801.00 | weeK 5 SMA |
| 113.00% | 4828.00 | Month 3EMA |
| 127.00% | 4858.00 | week 10 EMA |
| Aggressive | Trade Table | Reason for trade |
| Sell below 4775 NS | SL - Hr close above 4780 | 200 Hr MA-tgt 4730 |
| Buy above 4730 | SL - Hr close Below 4820 | Day Hema-tgt 4775 - 4800 |
4 comments:
As usual Best presentation. Keep it up
Dear satheesh,
Please convey my best wishes to your father on his Birthday occasion...wishing him a very happy Birthday and healthy & prosperous year ahead.
Mynac Thanks. But I really wish I could. He and my Mom stays in our memories for ever!! So I have paid my salutations to him!!
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