Nifty Analysis

INTRADAY UPDATE 11.00 AM:
Nifty has reached the weekly channel resistance @ 6182.6 - current high. partbooking as mentioned earlier is done. Holding the rest with a trailing SL with Current Day HEMA and 20 DMA @ 5130 levels.

TRADE	STOPLOSS	REASON FOR Stoploss
Bought at 6050NS on 26/11	EOD close below 6130	20DMA/Day HEMA/5Week SMA
Part booked at 6180NS/6225NF

Nifty high at weekly Channel resistance

NIFTY ANALYSIS

For the past two days Nifty has held on to the support of 6030 levels-Week channel, Day LEMA and 50 DMA Support and has closed above it.
Today's Support Level - 6000-6020 - 20pts +or- Day LEma
Today's resistance Level -6140-50 - 20 DMA
Break below 6000 would be a swift fall.

NIFTY Analysis

Intraday Update at 3.15pm:
Nifty could be Bought at today's low levels 6050 -with SL 50DMA -6040 - as Nifty is likely to close above day LEMA. Today niftys' journey has been from Day HEMA to Day LEMA.

NIFTY ANALYSIS:
The low of 5970 was held and Nifty has given a bounce back of 100+ points. Now for few charts.

WEEKLY CHART:

Nifty has taken the channel support and is heading towards the channel resistance @ 6180-90 - coinciding with the CURRENT MONTH HEMA - being very crucial as this week end is month end too.

NIFTY ANALYSIS for the WEEK

Nifty has closed at a critical juncture of 5970 levels as per monthly charts. It has retraced upto the junction of support lines again. 5900 is the maximum support for further upsides. Break of 5900-5860 levels would be disastrous - as supported by Day charts

Nifty has closed the week making a double bottom at 5972 supported by Day channel.