Analysis for Nov 15

EOD analysis:
the 50% retr of XA of the Day TF comes to 5064. Ns has breached these levels to make a low of 5053 and has closed at 5068 - This is below the week Lema Day Lema and week and Day pivots exhibiting weakness.

 Longs were terminated at 3.20pm when NS breached 5060.

Intraday update 2.30PM:
NS has made a low of 5086 corresponding to 161.8% retr of XA of the Bearish shark pattern. It also approximates to the Week Lema. Today's close below this would lead NS to 5030 levels.
If found support at these levels, as per EW count it is likely that the wave B is over and the Wave C would unfold.

Intraday Update 11.30 am:
All hour charts 35D,fmacd,smacd,14RSI charts show +ve divergence. Also theDay RSI chart also shows +ve divergence.

CURRENT BEARISH / BULLISH SCENARIO

CURRENT BEARISH SCENARIO!!!
A bullish ABCD pattern is formed in Hour TF which would determine the target that could be achieved by the Bullish shark pattern.

Bullish Shark Pattern in Nifty Hour

A bullish shark pattern has formed in Nifty Hour. Validation of this pattern and continuation of the write up would be taken up later. This pattern study is in initial stages. Have mailed this pattern to harpreet for opinion.