NIFTY ANALYSIS

The Three Drive pattern (CLICK HERE) completed  by falling short of 40 points of its final target 161.8% 5084 - stopping at 5118. It has given quite a decent rally of around 800+ points to reach  a high of 5932.

NIFTY - AN ANALYSIS

Nifty has broken the Monthly channel support at 5300 levels desicively - a clear indication of more lower levels to follow.

As per the Monthly bullish Shark pattern -
BULLISH Shark Pattern:
O-X - 4770 - 6112
A - 5447 - 50%  RETR OFOX5441
B  - 6229 - approx -113% - 127% of XA
Proj for C:
113% - 5379.2 - DONE
127% - 5273.9
141.4% - 5165.6
161.8% - 5012

The targets for the patterns are either

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.

TATAMOTORS AN ANALYSIS

Tatamotors is at a Make or Break Juncture. As per the weekly charts, there are two possibilities -  either  breakout above 303 which would give a huge run-up targetting 320++ or breakdown below 276 to intially 260 levels.

DAY chart:

 

Hour chart:

 

10 DMA	20 DMA	50 DMA	100 DMA	200 DMA
293.86	291.26	292.91	289.23	289.94

All Moving Averages are converging and currently TM has closed below all averages. An EOD close above 293 would warrant an upmove.

Synopsis: Positionally Sell below 291.5-293  with SL EOD close above 293. If EOD close is above 293-294 then Stop and Reverse with SL 288 below 200 DMA.

NIFTY at interesting JUNCTURE !!!!

NIfty is poised at an interesting juncture. The Current Month low of 5760 is a Long Term Support and any break of the levels 5760-20 wouldlead to a heavy downfall. Holding 5760-5720 levels is very very important if any upmove is to take place. Few Charts:

MONTH LOG CHART:

The Chart is Self - explanatory.

NIFTY ANALYSIS -

Nifty Has made a High of 6038 - Will it be a temporary TOP??? last Month (CLICK HERE) from the SUPPORT of  5566 (CLICK HERE) Nifty has reached upto 6038 -  Month HEMA. The Charts show major resistance at this juncture. So Taking out 6040 levels at the Month End is the Key for further Upsides. Nifty Had been trading in a tight range for the past two months within Long term Support and Long term Resistances. Breakout on either side would lead to Huge Moves.