BANK NIFTY ANALYSIS

Bank nifty for the 5th consecutive day has found resistance at 19050 and support at 18900-800. There are both Bullish and Bearish Prospects in contention - Typical of a B Wave. Yesterday EOD close was below 18900 - signalling weakness. But it is above the TA parameters such as 10 EMA,10DMA and 5 Low EMA.

Trade Plan:
Sell below 18900-18950 - Sl two hour close above 19050 - Day HEMA
Buy above 19050 day HEMA - SL two Hour close below 18900

BANK NIFTY ANALYSIS

1.30PM Update:

Owing to Global weakness - Banknifty has fallen from 18500 -18250 levels. 18300 is 200 DMA and 18330 is 50 DMA - A FAST RISE BETWEEN 50 DMA AND 200 DMA. An EOD close above 18300 would be an initial step for Bounce back.

The BEARISH WOLFEWAVE (24 JULY 2014) has reached its final target. The Bullish Gartley pattern is completed. 

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_4c7145301c781882e2046bd9b88a60f3.png

Time to Exit shorts taken at 19000.

BANK NIFTY ANALYSIS

Intraday Update: 2.30 Pm:

The Three drive pattern is active now.. targetting 18600-550.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_18e51ad76b78a03ff231ea09a2cb019b.png

The Pattern is taking shape of a Bullish Gartley targetting 18600-550.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_6e96f8b770d1ba8e17c2a5d945170284.png

18600-550 expected target is the channel Bottom of Day TF.

PRE MARKET VIEW:

BN resisted at 19000 and found support at 18850 -800 yesterday. Break of 18800 would lead to 18600.

the Bearish wolfe wave will be negated above 19000.

Trade Plan:

SL for the shorts initiated yesterday is trailed to 18950 - partbook at 18650-600 on breakdown.

TATAMOTORS ANALYSIS

TATAMOTORS UPDATE HOUR CHART 25 JULY:

Tatamotors found short term support at 470 (Click Here) - and has moved up to 488.2 - and reigning at 484 levels.

HOUR CHART:

Channel Resistance @ 490 - Breakout above 490 - requires at least 2Hours Close above 490

Channel Support @ 480 - breakdown below 480 - corresponding to 5DMA.  An EOD close below 480 - would initially drag towards -468 - 10 DMA

DAY CHART:

A WOLFE WAVE IS FORMED at the CHANNEL RESISTANCE 1,2,3,4 &5.

This would be negated with an EOD close above 490.

An EOD close below 5DMA 479 would be the initial trigger point.

WEEK CHARTS:

MONTH CHART:

 490 - 480  is the decider level for further Upmoves or downmoves. 

A Bullish Shark Pattern has developed in day Charts which would also be negated above 491. 

Development of Bullish Shark Pattern:

OX - 429-484.7

A - 442.6 - 78.6% retracement

B - 88.2 - approx 113% retr of XA

Proj for C:

 61.8% - 460.02

78.6% - 452.36

88.6% - 447.8

113% - 436.67 - This also coincides with 88.6% of OX.

Synopsis:

An EOD close above 490 - Bullish. An EOD close Below 479 - Bearish.

TATA MOTORS ANALYSIS

For SAIL analysis Click HERE:
Tatamotors Found support at 440 levels @ 50 DMA and bounced back again upto 477 knocking at the Medium term Weekly Channel. Breakout above 485 -487 would lead to new Highs. Resisting at 480 levels would drag it back to 460 levels. Breakdown of 460 levels is highly Bearish.

TATAMOTORS ANALYSIS

Tatamotors is poised Mid-way between Breakout and Break Down.

As per Weekly TF and Day TF - Holding 423-424 - Weekly Lema and Channel Bottom is very important for it to move towards  450, above it 470++.

As per Hour charts Consoildation is taking place - Breakout 441 - would lead to 450, and Breakdown below 432 leads to 423-424.

THE KEY SUPPORT IS 422-424. It would be a Low risk High Reward entry to buy near 423-424 levels with 420-417 as SL.

TATAMOTOR ANALYSIS

FOR NIFTY ANALYSIS CLICK HERE

Tatamotors made a High of 337 and has had a pull back up to 404 - 50 DMA.

It is trading between 50 DMA and 10 DMAduring the past week.

Trading  above 414-415 - 5 DMA and an EOD close above 5DMA would give a runup towards 10 DMA again.

Failing to close below 5DMA - would drag tatamotors near 404-405 50 DMA again.

A Bearish Wolfe Wave has formed in Day Charts which would be invalidated on an EOD close above 10 DMA 420-422.

TATA MOTORS ANALYSIS

UPDATE 1.00 pm:
Hour chart with EW count:

If 390-388 is held then a swift upmove to 395++.If breaks down 390 then down to 380,375.

TATAMOTORS ANALYSIS

Tatamotors Pre Market:

Tatamotors has closed exactly at a crucial level of 360 - as per charts. Breakout above 361 - would swiftly lead to 370-374. Breakdown below 360 would drag it to 348 - 345. Today being the Quaterly result of Tatamotors it would play a major role.

TATAMOTORS ANALYSIS

Tatamotors has closed above 10 DMA and if 360-362 resistance is surpassed it would target 50 DMA - near 370 levels.

Tatamotors and Nifty analysis

Tatamotors found support at 200 DMA and bounced back upto 345.

Hour Channel and Day Wedge Breakout above 346.

Nifty ANALYSIS

Nifty Dropped heavily from 6358 and has made a low of 6175 till now. The Weekly channel has broken down - which is likely to lead to more falls.

 EOD belowWeek LEMA - (6161 - with present low of 6171 - would change if another low is made)  would weaken Nifty Further. An EOW above week LEMA possibly would prevent a swift fall.

50DMA is at 6190 - which may lend a support for the time being. EOD close below 50 DMA would weaken Nifty Further.

NIFTY ANALYSIS

INTRADAY UPDATE 11.00 am:

TRADE	STOPLOSS	REASON
bought @ 6200 NS on 18/12	EOD close below 6270	Trendline/Weekly channel
Partbooked at 6350 NSon 2/1/14

NIFTY ANALYSIS:
Nifty closed the Year end just above 6300 - Highest ever Month/Year closing.  6270 is a major Resistance turned support. Holding 6270-6260, nifty would scale 6400++. The next major resistance is at 6450-6470.

Decisive breaking of 6270 would be the initial step for the fall which could probably break 6000 levels.

NIFTY ANALYSIS

Nifty has opened with a gap down today and reached 50% of the retracement of 5973-6415. This is also supported by channel in Hour chart and Trendline in Day Charts. Weekly channel has supports upto 6155-60 - Week 10SMA.

Below 5185-5170 - The Bearish Wolfe wave will show its' dominance.

As per Hour charts a Reciprocal ABCD pattern is formed which Holding 6170-6150  - would give a bounce to the fall from 6415 - 6185.

23.60%	38.20%	44.70%	50.00%	61.80%	70.70%	78.60%
6239.28	6272.86	6287.81	6300.00	6327.14	6347.61	6365.78

NIFTY ANALYSIS

Intraday Update: 3.00PM:

TRADE	STOPLOSS	REASON FOR Stoploss
Aggressive - Sold @ 6325NS/6360NF	Hour close above 6340	Day HEMA/Hour channel breakdown

Aggressive trade would be carried only if the EOD close is below Day HEMA - today's DHEMA - 6322.


NIFTY ANALYSIS:
Will Nifty make new highs, or is 6415 - sealed currently??? Charts gives both possibilities.

Nifty has to breakout of the Monthly Channel/weekly resistance Click Here decisively to get to new Highs.
A Bearish Wolfe wave  pattern has formed in weekly charts.

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 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.

NIFTY ANALYSIS - Bullish and Bearish patterns

Nifty found support at 5970 levels as mentioned in the earlier post and has rallied upto 6210 - 61.8% retracement - the Golden Ratio.

Currently in Day charts both Bullish and Bearish Patterns are in the making.

Bullish Scenario:

DAY Three Drive Pattern Chart:

TATAMOTORS ANALYSIS

Tatamotors made a high of 324.3 from the weekLEMA of 277 on the news of it's Good sales only to complete a B and now the C down has started. Currently, again it a has made a low of 278 which is a weekly support at Week LEMA. 200 DMA is at 291.8 levles also a Cluster of resitances at 289-291 levels by way of 13,50,55,100 and 200 DMA.

A consolidation or a trading range between 278 - 291 in on and break down would be severe.

Week Chart:

A Symetrical triangle is formed by the Long Term Trendline and the resisting Trendline.  Breakdown of 278 - weekLema and Long term Trendline would initially bring down to 265 levels - Contracting triangle. Break down of Contracting Triangle would drag down near 250 levels.

This view is supported by the Wolfe Wave formed in Day Charts.

WOLFE WAVE CHART:

 

If the Point 4 is considered at 4.a i.e 271.8, then the point 6 would form near 270-265 levels.

If Point 4 at 263 is considered then point 6 would be formed well below 250.

Day Chart:

A good trading range between 278 - 291 and an EOD close above 200 DMA would warrant caution in Long positions.

NIFTY ANALYSIS

Nifty has made a low of 5306 today which is a long term monthly/weekly support. Holding 5300 - nifty might try to attempt a pause. But on break of 5300 - nifty would swiftly reach below 5100 levels in a weekly/ Monthly perspective. How long ot would hold 5300???? - Market only can give us the answer.

Monthly Charts:

  CHANNEL SUPPORT AT 5300 LEVELS. Break of 5300 - severe fall on cards.

Weekly Charts.:
A Wolfe Wave pattern is completed. Also Nifty at Channel Supports.

If any pause in downmove is to occur then 5300 must hold. Also 61.8% retracement for the rise from 4770 - 6229 is 5327. This being a golden ratio is likely to provide the pause required.

High Risk Aggressive Longs to be attempted with Stirct SL of 5290 - only based on channel support - which could be easily broken considering the nature of the fall.