NIFTY ANALYSIS

TATAMOTORS UPDATE


Nifty managed to close exactly at Day LEMA but below 50DMA.

The present Week LEMA is 6155 - would change if new lows are being made today. Today being the End of Week, if today's close is below Week LEMA, then more downsides would follow. If Supported at 6150 levels, and Nifty closes above Week LEMA - then again a small consolidation is likely for the next week.

TRADE	STOPLOSS	REASON
Sold @ 6210NS/6235NF on 3rd&6th jan	EOD close above 50 DMA	Weekly channel Breakdown
partbook near 6120-6130 levels

NIFTY ANALYSIS

TATAMOTORS ANALYSIS CLICK HERE:
Nifty has closed EOD below the 50 DMA and Day LEMA for the past three days - signalling weakness
 Moving past 50 DMA and at least 2 hrs close above 6200 would give strength for upmove else downsides continues.
Break below 6150 - weekly support - it is likely to be a swift fall.

DAY VALUES
HIGH	6192	5 EMA	6197
LOW	6160	10 EMA	6219
CLOSE	6175	5 DMA	6192
HI EMA	6234	50 DMA	6192
LEMA	6178

NIFTY ANALYSIS

For TATAMOTORS ANALYSIS - CLICK HERE

Nifty is finding support @ 50DMA and managing to close above it. It is hovering between Day LEMA and 50 DMA. Breaking of 50 DMA at EOD will drag Nifty down to lower levels.