BULLISH CROSSOVER IN DAY MA CHARTS:
INitiating an Agressive Buy for Intraday at 5485NF/ 5442NS with SL Hour close below 5430 NS.
Intraday Update 10.30 AM:
Partbooked at 5458NS trailing the SL to Hour close above 5482 Day LEMA.
ANALYSIS FOR FEB 24:
Nifty Has closed below the Week Pivot lvels and Day Pivot/Day HEMA and Day 5EMA.
Important Support levels for the Upmove to continue:
100 Hr MA - 5438
Week HEMA - 5445
Month HEMA - 5417
Important Resistances:
Developing Week Pivot - 5522
Day 5EMA - 5511
50 Hr MA - 5522
Day HEMA - 5566
BEARISH SHARK PATTERN WEEKLY TF:
Bearish Shark pattern:OX - 5740 - 4720
A = 5400 = 61.8%retr of OX
B (current) = 4531 > 113% retr of AB & equal to 127% retr of OA
Proj for C:
113% of AB - 5512.97
88% of OX - 5623 - DONE
The initial target of 5630 - corresponding to the 88.6% retr of the leg OX is achieved.
Nifty has made a l;ow of 5457 NS corresponding to the channel support in weekly charts. On close below this level - corresponding to week HEMA - firther porjections can be made for downsides. HOLDING ABOVE 5450 LEVELS THE UPMOVE IS LIKELY TO CONTINUE FOR TARGETS NEAR 5700++
DAY channel chart:
Hour chart:
Nifty is trading between 50 HR MA -5522 and 100 HR MA - 5438. Break below 5438 more downsides
possible.
HOUR CHANNEL:
AGGRESSIVELY SHORT FROM YESTERDAY AT 5510NS WITH TODAY'S SL CLOSE ABOVE DAY 5EMA - 5515NS
Week levels | week Developing levels | ||
CLOSE | 5564 | CLOSE | |
PIVOT | 5507 | PIVOT | 5522 |
HI EMA | 5356 | HI EMA | 5445 |
LOW EMA | 5146 | LOW EMA | 5251 |
5 EMA | 5317 | 5 EMA | 5392 |
5 SMA | 5305 | 5 SMA | 5172 |
PrevHigh | 5607 | High | 5630 |
Prev Low | 5351 | LOW | 5461 |
CHECK LIST-DAY | |||
CLOSE | 5483 | 5 SMA | 5536 |
PIVOT | 5494 | 5EMA | 5511 |
HI EMA | 5566 | 10EMA | 5473 |
LOW EMA | 5482 | 13EMA | 5441 |
prev HI | 5537 | 26EMA | 5308 |
prev LOW | 5461 | 50 Hr MA | 5522 |
100 DMA | 5016 | 100 Hr MA | 5438 |
50 DMA | 5024 |