Fast Rise Possibility in Hour Charts:
Intraday Update 10.20AM:
Possible Inverted h&S in the Hour Charts:
If resisted at 5430-50 levels then the Possibility of the Larger Inverted H&S would be Possible.
ANALYSIS FOR MAR 13:
Nifty has closed above the Day HEMA indicating Strength.
Bullish Crab Harmonic Pattern:
Development of Bullish Crab Pattern.
XA - 4531 - 5629
Current B - 5171 38.2% of XA - 5209 - DONE
Projection for C: (Holding B @ 5171)
38.2% - 5346
50% -5400
61.8% - 5454
78.6% - 5530
BULLISH factors:
Fast Rise setup in 5EMA, 10EMA and 26 EMA :
GOLDEN CROSSOVER OF 50DMA OVER 200 DMA :
50DMA Vs. 200DMA -
Fast Fall OR Bullish Golden Crossover???
50 DMA - 5161
200 DMA - 5168
GOLDEN CROSSOVER (CLICK HERE)
SYNOPSIS:
Trading above the 20 DMA at 5399 will be a Bullish sign. Intraday resistance can be expected at this range.
partbooking can be done at 5450 levels based on 61.8% retr. Intraday Longs can be initiated near 5350 levels with Day HEMA as SL.
| CHECK LIST-DAY | |||
| CLOSE | 5360 | 5 SMA | 5283 |
| PIVOT | 5369 | 5EMA | 5316 |
| HI EMA | 5327 | 10EMA | 5331 |
| LOW EMA | 5275 | 13EMA | 5338 |
| prev HI | 5420 | 26DEMA | 5314 |
| prev LOW | 5327 | 20 Hr MA | 5303 |
| 20 DMA | 5399 | 50 Hr MA | 5310 |
| 50 DMA | 5161 | 100 Hr MA | 5386 |
| 200DMA | 5168 | 200 Hr MA | 5370 |
| Trade Table | ||
| Current pattern | X-A | B(current) |
| Bullish Crab Pattern Developing | 4531-5629 | 5171 |
| Trade initiated | SL close below Day HEMA 5327 | |
| Bought at 5180NS | Proj for C | |
| 38.20% | 5346.00 | |
| 50.00% | 5400.00 | |
| 61.80% | 5454.00 | |
| 78.60% | 5530.00 | |
| Booked shorts on 7th mar and initiated Long | ||
| IMPORTANT TA parameters for projections | ||
| 50.00% | 5400.00 | Month HEMA |
| 61.80% | 5454.00 | Week HEMA |
| 78.60% | 5530.00 | |
