Resistance at 6280-90.
Support at 6180-90 - 50 DMA.
If supported quick move towards 6300++
Breakdown below 6180 - 50 DMA and EOD close below it is very bearish - likely to lead below 6100 levels.
Showing posts with label Bearish Crab Pattern. Show all posts
Showing posts with label Bearish Crab Pattern. Show all posts
March 3, 2014
NIFTY and TATAMOTORS ANALYSIS
Nifty made a High of 6282 on Friday but closed below the Month Hema and crucial resistance level of 6290-6300.
Resistance at 6280-90.
Support at 6180-90 - 50 DMA.
If supported quick move towards 6300++
Breakdown below 6180 - 50 DMA and EOD close below it is very bearish - likely to lead below 6100 levels.
Resistance at 6280-90.
Support at 6180-90 - 50 DMA.
If supported quick move towards 6300++
Breakdown below 6180 - 50 DMA and EOD close below it is very bearish - likely to lead below 6100 levels.
December 5, 2013
Nifty Analysis
Nifty closed below all HEMA's but above all LEMA's indicating sell on rises in all TF's.
Nifty also closed at the channel support, and if respected would make a swift move upto channel top at 6260-70 levels.
Similarly in Hour chart too, the channel support is evident. Channel resistance coinciding with the targets(last leg CD) of the Bearish Crab pattern developed.
Bearish Crab Pattern
XA - 6343-5973
B- 6212 - 61.8% retr of XA
C - 5973 - above 88.6 of AB
Proj for D:
88.6% - 6184-Done
113% - 6243
127% - 6276
Extended targets -
| DAY VALUES | |||
| HIGH | 6209 | 5 EMA | 6163 |
| LOW | 6150 | 5 DMA | 6170 |
| CLOSE | 6161 | 10 DMA | 6107 |
| HI EMA | 6193 | 20 DMA | 6113 |
| LEMA | 6137 | 34 Hr MA | 6177 |
Nifty also closed at the channel support, and if respected would make a swift move upto channel top at 6260-70 levels.
Similarly in Hour chart too, the channel support is evident. Channel resistance coinciding with the targets(last leg CD) of the Bearish Crab pattern developed.
Bearish Crab Pattern
XA - 6343-5973
B- 6212 - 61.8% retr of XA
C - 5973 - above 88.6 of AB
Proj for D:
88.6% - 6184-Done
113% - 6243
127% - 6276
Extended targets -
| 141.40% | 161.80% |
| 6310.95 | 6359.70 |
| TRADE | STOPLOSS | REASON FOR Stoploss |
| Bought at 6050NS on 26/11 | EOD close below 6130 | Day LEMA/5Week SMA |
| Part booked at 6180NS/6225NF on 29/11/13 | ||
| Book profits at 6280 - 6290-6300levels - near day / weekly channel resistance | ||
November 29, 2013
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.
Nifty high at weekly Channel resistance
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
November 28, 2013
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.
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.
September 13, 2013
NIFTY ANALYSIS
The Three Drive pattern (CLICK HERE) completed by falling short of 40 points of its final target 161.8% 5084 - stopping at 5118. It has given quite a decent rally of around 800+ points to reach a high of 5932.
