Analysis for July 20

BANK NIFTY WEEKLY CHART UPDATE:

Close below the TRENDLINE would pull Bank Nifty further down near the Base of the Triangle formed - and the Lead indicator alsois in favour of it.
If supported then, a very Big upmove is possible as the pattern is  an Inverse H&S with slope tilting dwonwards. The Breakout will be very sharp.

ANALYSIS FOR JULY 20:
Nifty did not show strength in the upmove yesterday terminating at 50% retracement at 5258. The Breakout from the Falling wedge (CLICK HERE) was resisted by a channel.

Week Chart:

The Lead indicator has turned down and the break down of the Low of 5170 would be a channel breakdown, below Week 5 EMa, Day LEMA and 100 DMA.

With an EOD close below the week 5EMA 5220 and Day Lema of 5209, Nifty would get Bearish. The Longs are to be terminated at such a juncture.

Sell  @ 5165 ranges with SL 5190-5220 EOD close.

Developing Week Levels
CLOSE
PIVOT	5223
HI EMA	5266
LOW EMA	5143
5 EMA	5220
10 EMA	5179
PrevHigh	5258
Prev Low	5169

CHECK LIST-DAY
CLOSE	5243	5 SMA	5215
PIVOT	5245	5EMA	5229
HI EMA	5253	10EMA	5237
LOW EMA	5209	13EMA	5234
prev HI	5258	20 Hr MA	5215
prev LOW	5233	50 Hr MA	5241
10 DMA	5256	100 Hr MA	5268
20 DMA	5235	200 Hr MA	5195
100  DMA	5167
200 DMA	5093

Analysis for Nov 9

Intraday Update 3.00 PM:

NS has almost reached 88.6% at 5225. Part booking can be done at 5240 NF.

Intraday Update 12.00 noon:

NF in a very small range within a triangle. Breakout of triangle to result in inv H&S.

Analysis for july 6

Strength: NS has closed above Week and Day 5EMA and above week Hema

Weakness : NS has closed below Day Hema and week (5641)and Day pivots (5635). It has closed below all Hour High ema of july 5th.

A Descending Triangle has developed in NS with breakout above 5640 and breakdown below 5612. The day trading range has narrowed and breakout is likely to lead Nifty to its 200 DMA 5745.
A breakdown and close below the DayLema of 5585 would lead NS to 50DMA at 5515.

The NF shows Symmetrical triangle pattern - Which can breakout on either side but NS shows Descending triangle pattern - which is Bearish

For more details about Triangles refer Link

http://www.investopedia.com/articles/technical/03/091003.asp#axzz1RGEQWOfn

More downside expected!!!

The breakdown of the 5min triangle would easily fetch 40-50 points!!