Analysis for june 19

INTRADAY UPDATE 10.AM:
Shorts added at 5070NF.


ANALYSIS FOR JUNE 18:
Last week's heavy bullishness was totally dampened with today's huge news based sell off of Nifty from approx 100 DMA till the Day LEMA - and closed just below the 200 DMA implying more bearishness.

Nifty Harmonic pattern:

                      

Development of Bullish 5-0 pattern:
XA - 4804 - 5020
B - 4770 - 113% retr of XA
Current C - 5190 - 161.8% retr of AB DONE
Projection for D:
5029 - 38.2% retr of BC -DONE
4980 -50% retr of BC - Corresponding to 20 DMA, 34 Day SMA and Week 5 SMA
As per the Pattern Nifty must not exceed 61.8% - 4930 retr which is the Potential Reversal ZONE.
Hence a Buy from 4950-4980 levels with Positional SL 4930NS

5-0 pattern in Hour Charts:

TRADE TABLE

	Trade Table
Current pattern	X-A	B	C(current)
0-5 pattern and Butterfly pattern (week)	4804 - 5020	4770	4190
Trade initiated	SL 200 DMA - 5070NS
Short at 5060NF	Proj for D
	50.00%	4980.00
	61.80%	4930.00
Partbook at 4980 levels initiate 25% longs
Book Out at 4940-50 levels and initiate Longs with strict SL 4930

CHECK LIST-DAY
CLOSE	5064	5 SMA	5099
PIVOT	5099	5EMA	5082
HI EMA	5145	10EMA	5053
LOW EMA	5043	13EMA	5039
prev HI	5190	20 Hr MA	5098
prev LOW	5042	50 Hr MA	5087
50 DMA	5067	100 Hr MA	5003
200 DMA	5067	200 Hr MA	4958
100  DMA	5196
20 DMA	4980