NIFTY HAS REACHED THE CHANNEL TOP. BOOKED 75% OF LONGS AT 5720NF.
Analysis for sept 21
Nifty has corrected from its high of 5652 till 5537, but is maintaining above the Day 5EMA and Day HEMA. A close below the Day HEMA and Day 5EMA - i.e below 5550-5540 would lead to a much deeper correction.
ABCD patternAB - 5032 - 5449
c - 5215 - approx 50% retr of AB
Holding C Proj for D:
113% - 5479
127% - 5512
141.4% - 5545
161.8% - 5593
200% - 5683
The 200% retr is the final target yet to achieve.
SYNOPSIS:
Resistances at 5680-5700 levels - Trendline/Channel resitance.
Partbook Longs at 5680 levels, and trail SL for longs as per today's developing Day HEMA.
| Developing Week Levels | |
| CLOSE | |
| PIVOT | 5581 |
| HI EMA | 5511 |
| LOW EMA | 5360 |
| 5 EMA | 5451 |
| 5 SMA | 5424 |
| 10 EMA | 5369 |
| PrevHigh | 5652 |
| Prev Low | 5537 |
| CHECK LIST-DAY | |||
| CLOSE | 5554 | HI EMA | 5557 |
| PIVOT | 5616 | LOW EMA | 5520 |
| prev HI | 5581 | 50 Hr MA | 5505 |
| prev LOW | 5537 | 100 Hr MA | 5392 |
| 5EMA | 5543 | 5 SMA | 5555 |
| 10EMA | 5482 | 10 DMA | 5454 |
| 13EMA | 5457 | 20 DMA | 5382 |
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