TATAMOTORS AN ANALYSIS

Tatamotors has been supported by 200 DMA 285.5 levels. breakdown of this would result in a Head and Shoulder breakdown for much lower targets. If supported at the neck line at 279-280, then a swift pull back would lead to 300+.

 

 

TATAMOTORS HOUR CHART:

 

 





NIFTY IN DEEP RED!!!!!!!!

WEEK CHART:

DAY Charts:

NIfty if finds support at 5630-50 - possibility of Bounce back - ELSE huge downsides -

retracements for 5477 - 6229
70.7% - 5697 - done
78.6% - 5637 - trendline support
80% - 5627
88.6% - 5562
113%- 5379

Nifty Analysis for 14 june

INTRADAY UPDATE: 2.45 pm:
HOUR CHART:

Nifty has reached upto Week LEMA supassing day Lema and 200 DMA. If EOD close is above 200 DMA then it would be feast for the BULLS.

ANALYSIS FOR 14 JUNE:
Nifty made a Low of 5683 yesterday almost completing a Bullish bat pattern. Monthly LEMA @ 5694 currently provides support. Weekly and Monthly charts trendline supports are at 5630-20 levels. Though all indicators of week, day and Hour are Over Sold, a reversal possibility is still not visible. The weekly parameters seems to be far fetched from the current level of Nifty. A minimal close above Day Lema @ 5770 is needed today ar EOD for signalling a pause in down trend.

WEEK CHARTS:

Weekly charts show supports at 5630-20 levels

DAY CHARTS:

There is a Bullish crossover of 50 MA over 100 MA and currently all averages are bullishly alligned. If Nifty takes support at 5650 levels then a good pull back would be on cards.

Hour charts: All Hour indicators are exhibiting +ve divergences. As per the Hour charts, the channel resistance comes to around 5770-90 corresponding to day Lema and 200 DMA. Any breakout is possible only on an EOD close above 5790 -200 DMA.

5 EMA	5789	HIGH	5730
5 DMA	5801	LOW	5683
200 DMA	5793	CLOSE	5699
HI EMA	5835	50 Hr MA	5847
LEMA	5770	20 Hr MA	5756

NIFTY ANALYSIS

Monthly chart of Nifty:

 NIFTY DAY BULLISH BAT PATTERN:

BULLISH BAT PATTERN:

XA - 5477 - 6229

B -5936 - 38.6% retr of OX

C - 6134 -  61.8% retr of OA

D - 5697 - 224% retr of AB

 

Channel support at 5690-80 levels.

 

 

 

 

 

 

 

NIFTY MAKE OR BREAK?? 100 DMA TO DECIDE

Nifty has made a Low of 5883 - at 100 DMA. This becomes a very important support level. Now for few charts.

The Monthly Nifty chart Clearly shows that the Breakdown of 5880 levels would lead to a break down of Channels dragging Nifty to lower levels.

 

The Day charts clearly indicates support at 100 DMA

 

Development of Bearish Shark Pattern in Hour Charts:

 

 

Development of Bearish Shark Pattern.

OX -6229 - 5936

A - 6134 -61.8% retr of OX

B - 5883 - 113% -127% retr of XA

Holding current Low @ 5883,

Proj for C:

88.6% of OX - 6195

or 161.8% of AB - 6289

 

If 100 DMA @ 5895 breaks decisively then it would be an ABCD pattern i.e.,

A - 6229

B - 5936

C - 6134 - 61.8% retr of AB

Projection for D:

127% retr of BC - 5880

141.4% - 5854

161.8% - 5813

 

SYNOPSIS: Holding of 100 DMA is very important to avoid futher downsides.

 

 

 

 

 

NIFTY MONTH AND WEEK ANALYSIS

Nifty has made a run from the low of 5477 till 6070.15 - today's high as of now. With the High 6112 -  made in Jan 2013 a Bearish Gartley Harmonic pattern(CLICK HERE)  was complete in Monthly Time Frame. Now a Bullish bat pattern is in the making.

BULLISH BAT PATTERN:

X-A - 4770 - 6112

B - 5447 - 50%  RETR OF XA 5441

C (current) - 6070.15 - approx -88.6% of AB

Proj for D:

38.2% - 5775.36

50% - 5807.75

61.8% - 5703.5

ABCD pattern -HIGHLY BULLISH

If 6112 is crossed decisively then, it becomes an ABCD pattern with vertices,

A -4770

B-6112

C - 5477

&Proj for D:

113% of BC - 6194

127% of BC - 6283

141.4% - 6374

161.8% - 6504

The deciding levels are between 6070 and 6112. Caution with Longs till 6112 is desicively crossed. Positional shorts if taken the stoploss should be strictly maintained at EOD close above 6112. 

WEEKLY CHARTS:

  The weekly charts also exhibits resistance at current levels and the indicator is Highly Over Bought. Caution with Longs till 6112 is taken out decisively.

NIFTY - Short term bottom ????

Nifty had a huge run from month's low to almost week's high on the expiry day - being the End of Month and End of Week. It has closed above the Month Lema 5649 indicating a pause in down movement. The 200 DMA at 5620 also helped in proving support. How much is the possibility of new upsides?

The candle charts presents an interesting probability.

When considering the single candle of the Month of March, the Monthly candle represents a BEARISH PIN BAR, which is Highly bearish

A Pin Bar is a candlestick pattern where the body of the candlestick is very small and has a very long wick.  There are two types of Pin Bars a Bullish Pin Bar and a Bearish Pin Bar.

A Bullish Bar is represented by a small body at the top and a long wick below, this indicates that price was sold down by the bears and then immediately bought straight back up by the Bulls. In a perfect world the close is above the open for a bullish pattern and no wick at the top of the body. The opposite of this is true for a bearish pattern.

Source: http://www.forextofreedom.com/pin-bar-candlestick-reversal-pattern/

When considering 2 candles of the monthly chart an Inverted Hammer is in place which has high probability of being a bullish pattern but it has to get confirmation by the third candle.

Description
The Inverted Hammer is comprised of one candle. It is easily identified by the small body with a shadow at least two times greater than the body. Found at the bottom of a downtrend, this shows evidence that the bulls are stepping in, but the selling is still going on. The color of the small body is not important but the white body has more bullish indications than a black body. A positive day is required the following day to confirm this signal.

Criteria
1.  The upper shadow should be at least two times the length of the body.
2.  The real body is at the lower end of the trading range. The color of the body is not important, although a white body should have slightly more bullish implications.
3.  There should be no lower shadow, or a very small lower shadow.
Signal Enhancements
1. The longer the upper shadow, the higher the potential of a reversal occurring.
2.  A gap down from the previous day's close sets up for a stronger reversal move.
3.  The day after the inverted hammer signal opens higher.
4.  Large volume on the day of the inverted hammer signal increases the chances that a blowoff day has occurred.

Monthly chart with Bearish Pin Bar/Inverted Hammer:

The Low 5604 becomes a very important low which should not be breached. As per monthly levels the bulls would be safe only above 5604.

In weekly charts also such a dilemma occurs. This weeks' candle follow up confirmation is required to decide about the pattern.

As far as the day charts are concerned, Day is trending down within the Channel and channel breakout would be above 5720 coinciding with the Day Hema which is a signal for upmove to continue. An EOD close above 5720 would be most welcome by the BULLS.

5 EMA	5675	HIGH	5693
5 DMA	5654	LOW	5604
10 DMA	5733	CLOSE	5683
200 DMA	5623	50 Hr MA	5691
HI EMA	5712	20 Hr MA	5649
LEMA	5635

SYNOPSIS: Protecting 5604 would be the need of hour of the Bulls

Aggressive sell below 5700 with Strict stoploss above 5725- Hourly close
Buy above 5720 with SL 5700 Hourly Close.