Analysis for Mar 7

Nifty has closed below th Day Lema, Pivot suggesting weakness. The Bullish Gartley developed in Hour TF (CLICK HERE) has been taken over by the day TF and the current B is developing.

BULLISH HARMONIC PATTERN DEVELOPING IN DAY TF:

Development of Bullish Pattern.
XA - 4531 - 5629
Current B - 5206
38.2% of XA - 5209 - DONE
Proj for B:
44.7% - 5138
50% - 5080
61.8% - 4950

200 DMA @ 5170 is a very important support and a Bounce from there would lead to good upmoves upto 5400++. Closing above 5150 on EOD basis is very important for futher upmoves based on the closing value chart.

Then Short term outlook based on Hour  TF seems to be very weak with BEARISH CROSSING OF the 20 Hr MA and 50 Hr MA OVER 200Hr MA . An Inverted Cup with handle with targets upto below 5000 is formed in Hour TF. But If the 200 DMA and Month 5EMA @ 5150 provides support such low targets would not be achieved.

20 Hr MA	50 Hr MA	100Hr MA	200Hr MA
5,316	5,343	5,434	5,355
5,311	5,339	5,433	5,355

SYNOPSIS:
 A BOUNCE IS LIKELY TO EMERGE FROM THE 200 DMA AT 5170 LEVELS. SO THE SHORTS CAN BE BOOKED AT THESE LEVELS AND A AGGRESSIVE BUY AT 5170 LEVELS WITH SL 5150 EOD BASIS (MONTH 5 EMA AND TRENDLINE/CHANNEL) SUPPORT.

CHECK LIST-DAY
CLOSE	5222	5 SMA	5348
PIVOT	5270	5EMA	5302
HI EMA	5392	10EMA	5345
LOW EMA	5275	13EMA	5354
prev HI	5382	55DEMA	5197
prev LOW	5206	20 Hr MA	5372
200 DMA	5170	50 Hr MA	5339
50 DMA	5128	200 Hr MA	5355

	Trade Table
Current pattern	X-A	B(current)
Bullish Pattern Developing	4531-5629	5206
Trade initiated	SL close above Day LEMA of 5275
Short from 5510 Based on Hour TF Bullish pattern	Further Proj for B
Partbooked at 5430	38.20%	5209.00
	44.70%	5138.00
	50.00%	5080.00
	61.80%	4950.00

IMPORTANT TA parameters for projections
38.20%	5209.00	200 DMA
44.70%	5138.00	month 5 EMA/50 DMA
50.00%	5080.00	MONTH 5 SMA
61.80%	4950.00	MONTH LEMA

Analysis for Feb 29

Intraday Update 2.15 PM:
Partbooked at 5430NF and trailing SL to Day Close above 5401 - Month HEMA. Today being the Month Close.

INTRADAY UPDATE 12.15PM:
Shorted at 5485NF/5430NS SL Close above 5450NS - week HEMA.

Intraday Update 10 25 AM:

NIFTY has retraced back upto the channel todays 10.00 am High of 5458 - Corresponding to the Week HEMA.
Breakinto the channel would give good upmoves upto 5700 ++
If the channel line is respected then downmoves to continue.
RESISTANCES at THIS LEVEL:
Week HEMA - 5448
Day HEMA - 5475
Hour 100 MA - 5450
50% retracement forthe downmove from 5629 - 5268 -5447

ANALYSIS FOR FEB 29:
Bullish Gartley Hour TF:

Based on the Intial Hour Closing the next  trade can be generated Aggressively and could be converted positionally based on DayCLose.

Month Developing levels
CLOSE
PIVOT	5388
HI EMA	5401
LOW EMA	4843
5 EMA	5151
5 SMA	5072
High	5630
LOW	5159

CHECK LIST-DAY
CLOSE	5376	5 SMA	5415
PIVOT	5358	5EMA	5403
HI EMA	5475	10EMA	5421
LOW EMA	5365	13EMA	5411
prev HI	5391	26EMA	5319
prev LOW	5306	20 Hr MA	5372
20 DMA	5401	50 Hr MA	5484
50 DMA	5062	100 Hr MA	5448

	Trade Table
Current pattern	X-A	B
Bullish Gartley Pattern	5076-5629	5268
Trade initiated
	Proj for C
	38.20%	5405.90
	44.70%	5429.00
	50.00%	5448.00
	61.80%	5491.00
Booked at 5285NS on Feb 27

IMPORTANT TA parameters for projections
38.20%	5405.90	Month HEMA
44.70%	5429.00	Week HMA
50.00%	5448.00	week HEMA
61.80%	5491.00	Day HEMA

Analysis for Feb 27

Intraday Update 2.00 PM:

20 Hr MA	50 Hr MA	100Hr MA	200Hr MA
5,463	5,521	5,451	5,274
5,450	5,517	5,450	5,276
5,440	5,514	5,450	5,279

BEARISH CROSSOVER OF 20 hr MA OVER 100 Hr MA. NEXT SUPPORT 200 Hr MA - 5279

INtraday Update 1.00 PM:
SL trailed to Close above 5350 - week 5 EMA

Intraday Update 12.45:
Will Book out the Shorts near 5285-90NS as it is the 61.8% Projection from 5076 -5629.

Intraday Update 11.45 AM:

Possibility of Fast rise of 50 Hr MA and 100 Hr MA:

If fast Rise devlops then NS would move up. If Crossover occurs then more Downsides.

Intraday Update 10.20 AM:

Partbooked Shorts at 5380NS corresponding to week 5SMA and Trailing the SL to 5405.
Hour Chart Update:



The Channel has been breached and has reached a low near the week 5SMA. If supported then NS is likely to move up.

AS per EW if it is the 4th wave down then the likelyhood of breaching the trendline and moving back into the channel for a swift final 5the wave. - It is not a rule but a guideline.

ANALYSIS FOR FEB 27:



Nifty has closed below the Week HEMA and Day HEMA - exhibiting weakness. But the Low made is exactly supported at the Month HEMA 5401. Just with 3 more days for the month close, Nifty is likely to get supported at the Month Hema 5401.

Development of Bullish Crab/Bat pattern in Hour Charts:

Development of a Bullish PatternXA - 5076 - 5629
Projections for B:B -5406 - approx 38.2% -5417 - DONE
If current B holds, then Projection for C:38.2% - 5475
44.7% - 5491
50% - 5504
61.8% - 5533

Fibo projections for the upmove from 5076 - 5629:
If 5406 is broken down then futher projections for B:38.2% retr - 5417
44.7% - 5381.81 - corresponds to the week 5 SMA.
50% - 5352
61.8% -5287.25

Week levels		Month Developing levels
CLOSE	5429	CLOSE
PIVOT	5488	PIVOT	5406
HI EMA	5447	HI EMA	5401
LOW EMA	5232	LOW EMA	4843
5 EMA	5354	5 EMA	5169
5 SMA	5381	5 SMA	5082
PrevHigh	5630	High	5630
Prev Low	5406	LOW	5159

CHECK LIST-DAY
CLOSE	5429	5 SMA	5536
PIVOT	5452	5EMA	5511
HI EMA	5551	10EMA	5473
LOW EMA	5457	13EMA	5441
prev HI	5521	26EMA	5308
prev LOW	5406	20 Hr MA	5496
100 DMA	5020	100 Hr MA	5450
50 DMA	5037

	Trade Table
Current pattern	X-A	B(Current)
Bullish Crab/Bat Pattern	5076-5629	5406
Trade initiated	SL Day close above Day LEMA 5457
Short from 5510 NS(feb23)	If  B Breaks then further Proj for B
	44.70%	5381.00	Part book at 5375-80
	50.00%	5352.00
	61.80%	5287.00

IMPORTANT TA parameters for projections
44.70%	5381.00	Week 5 SMA
50.00%	5352.00	week 5 EMA
61.80%	5287.00	Week LEMA