August 20, 2012
August 17, 2012
Analysis for Aug 17
Nifty has reached the RESISTANCE POINT of the weekly/Monthly chart with a High of 5398. It also coincides with the 113% retrcement of 5349-5032 - Develoing into a BULLISH SHARK PATTERN (Click Here).
NIFTY MONTH CHART;
NIFTY WEEK CHART:
NIFTY MONTH CHART;
NIFTY WEEK CHART:
August 13, 2012
Analysis for Aug 13
BANK NIFTY DAY CHART:
BULLISH GARTLEY PATTERN IN BANK NIFTY:
Bullish Gartley Pattern:
XA - 9622 - 10782
B - 10056 - 61.8% retr
C - 10640 - approx 78.6% retr of AB
Holding C, Proj for D:
61.8% - 10279 - DONE
78.6% - 10180
88.6% - 10122
113% - 9980
The Trendline Has been Broken downwards - signalling more downsides to come - towards the CHANNEL bottom. If Bank Nifty moves above 10355 the it would agan creep back above the Trendline to Triangle Top.
Till 10355-370 is taken out EOD more downsides will follow.
NIFTY HOUR CHART UPDATE:
BREAKDOWN OF THE CHANNEL WOULD LEAD TO MORE LOWS.
An EOD close below 5300 - below day 5 EMA/Day HEMA would lead to more lows and the Bullish Shark Pattern (CLICK HERE) is likely to continue. So at such juncture the Longs are to be terminated and Fresh Shorts taken with SL above Day HEMA.
BULLISH GARTLEY PATTERN IN BANK NIFTY:
Bullish Gartley Pattern:
XA - 9622 - 10782
B - 10056 - 61.8% retr
C - 10640 - approx 78.6% retr of AB
Holding C, Proj for D:
61.8% - 10279 - DONE
78.6% - 10180
88.6% - 10122
113% - 9980
The Trendline Has been Broken downwards - signalling more downsides to come - towards the CHANNEL bottom. If Bank Nifty moves above 10355 the it would agan creep back above the Trendline to Triangle Top.
Till 10355-370 is taken out EOD more downsides will follow.
NIFTY HOUR CHART UPDATE:
BREAKDOWN OF THE CHANNEL WOULD LEAD TO MORE LOWS.
An EOD close below 5300 - below day 5 EMA/Day HEMA would lead to more lows and the Bullish Shark Pattern (CLICK HERE) is likely to continue. So at such juncture the Longs are to be terminated and Fresh Shorts taken with SL above Day HEMA.
August 9, 2012
Analysis for Aug 9
Intraday Update 3.00 PM:
Aggressive shorts booked Intraday at 5320NS/5340NF levels. Created Long at 5320 NS with SL EOD close below 5295 - 10 Points below 5EMA.
ANALYSIS FOR AUG 9:
A firm weekend closing and a Gap Up on Monday Aug 6th has firmly put Nifty on the uptrend path and the Bullish Bat Harmonic Pattern has got invalidated on a Move above 5349 and now it is either the the continuation of 5-0 Pattern - REFER JULY 31 ANALYSIS AND CHART (CLICK HERE) OR Development of Bullish Shark Pattern.
An Inverted Head and Shoulder has formed in the Day Charts and currently NIFTY is at the Neckline of the H&S.
INVERSE HEAD AND SHOULDER
If Neckline Resisted, then the Bullish Shark Pattern would be the result
If Breakout occurs then it would be the continuation of the 5-0 Pattern
MONTHLY CHART:
WEEKLY CHART: Currently resisting at Trendline/Contracting Triangle.
HOUR CHART : NIFTY within Channel:
SYNOPSIS:
Aggressive shorts taken at 5375NF today morning with 5405 NS STRICT STOPLOSS. - based on Trendline/Inverted H&S/Channel Breakout.
Supports can be expected at 5344 Ns -Month HEMA, 5330 Developing HEMA hence book out aggressive shorts intraday at these levels.
Positional shorts should be carried forward only on CLOSE BELOW DAY HEMA 5325NS.
IF EOD CLOSE ABOVE DAY HEMA 5330, THEN BUY AT 5330-40 LEVELS WITH STOPLOSS BELOW 5320 DAY HEMA
Aggressive shorts booked Intraday at 5320NS/5340NF levels. Created Long at 5320 NS with SL EOD close below 5295 - 10 Points below 5EMA.
ANALYSIS FOR AUG 9:
A firm weekend closing and a Gap Up on Monday Aug 6th has firmly put Nifty on the uptrend path and the Bullish Bat Harmonic Pattern has got invalidated on a Move above 5349 and now it is either the the continuation of 5-0 Pattern - REFER JULY 31 ANALYSIS AND CHART (CLICK HERE) OR Development of Bullish Shark Pattern.
An Inverted Head and Shoulder has formed in the Day Charts and currently NIFTY is at the Neckline of the H&S.
If Neckline Resisted, then the Bullish Shark Pattern would be the result
If Breakout occurs then it would be the continuation of the 5-0 Pattern
MONTHLY CHART:
WEEKLY CHART: Currently resisting at Trendline/Contracting Triangle.
SYNOPSIS:
Aggressive shorts taken at 5375NF today morning with 5405 NS STRICT STOPLOSS. - based on Trendline/Inverted H&S/Channel Breakout.
Supports can be expected at 5344 Ns -Month HEMA, 5330 Developing HEMA hence book out aggressive shorts intraday at these levels.
Positional shorts should be carried forward only on CLOSE BELOW DAY HEMA 5325NS.
IF EOD CLOSE ABOVE DAY HEMA 5330, THEN BUY AT 5330-40 LEVELS WITH STOPLOSS BELOW 5320 DAY HEMA
August 5, 2012
HAPPY FRIENDSHIP DAY !!!
On this day I would like to thank all my FRIENDS - for what they have done to me to be as I AM!!! Thanks a Lot all of you!!!!
August 3, 2012
Analysis for Aug 3
Nifty defended the 20 DMA yesterday but today at opening it opened below the 20 DMA - indicating weakness. Todays close below 5220 would set the way for further down moves.
The weekly charts clearly shows the formation of Contracting Triangle. Today being the weekend - Closing above the week 5EMA at 5191 is the minimum requirement for some more upsides.
Nifty Day Charts seems to be Highly Overbought and ready for correction. A close above 20 DMA/Day HEMA at 5220 is a must for more upsides. Hence correction is imminent to follow.
Harmonic pattern Chart: (REFER AUG2 WRITE-UP)
Harmonic pattern Chart: (REFER AUG2 WRITE-UP)
| Trade Table | |||
| Current pattern | X-A | B | C (current) |
| BULLISH BAT PATTERN | 4770-5349 | 5032 | 5246 |
| Trade initiated | SL EOD close above 5220 | ||
| SOLD at 5210NF on 3AUG | Proj for D | ||
| 38.20% | 5164.00 | aprrox 100 DMA & 10 DMA | |
| 50.00% | 5139.00 | 50 DMA | |
| 61.80% | 5113.00 | week LEMA | |
| 78.60% | 5077.00 | ||
| at today's opening the Longs were closed at 5220NF and shorts were taken | |||
| Developing Week Levels | |
| CLOSE | |
| PIVOT | 5201 |
| HI EMA | 5337 |
| LOW EMA | 5114 |
| 5 EMA | 5191 |
| 5 SMA | 5215 |
| 10 EMA | 5172 |
| PrevHigh | 5164 |
| Prev Low | 5032 |
| CHECK LIST-DAY | |||
| CLOSE | 5228 | 5 SMA | 5199 |
| PIVOT | 5225 | 5EMA | 5204 |
| HI EMA | 5219 | 10EMA | 5190 |
| LOW EMA | 5170 | 13EMA | 5189 |
| prev HI | 5237 | 50 Hr MA | 5161 |
| prev LOW | 5210 | 100 Hr MA | 5177 |
| 20 DMA | 5208 | 200 Hr MA | 5214 |
| 100 DMA | 5151 | ||
| 200 DMA | 5105 |