EOD march 11

Nifty trending within channels. Has found support exactly at the channel bottom. 

Bearish flag in 5min NF



Week: Nifty found support exactly at 5SMA(5411) but has closed below 5EMA 5459
Day: Nifty has closed just at 21 DSMA (5444) but below 5EMA (5483)
Hour: Nifty has formed a Descending triangle and the Hr. SMACD has moved into the negative territory indicating bearinshness.

Strength: Nifty has closed above all LEMA (Hour, Day, week and Month)
Weakness: Nifty Closed Below all 5EMA's, and all Pivot points
Analysis : weakness more prevalent than strength. Strength return only after closing above pivots, 5EMA's.

fast fall possibility??

Fast fall showing its face!!!!

If NF does not cross the trendline a possiblity of fast fall emerges as It is resisted exactly at 100MA in 5min NF chart

EOD March 10

Hold Sold at 5485NF  for possible targets at 5456, 5403 and 5385NS

EOD mar 9

WEAKNESS: Nifty has again closed(5531) below the DHEMA ( 5539) - indicating weakness though it    made a high of 5563 and got resisted during opening.  The 5EMA is below the 5SMA .

STRENGTH: Found support near 10D EMA @ 5479 and Closed above Day EMA and Week EMA. 13, 21 and 34 day EMA above SMA.

            

NS finding support at Hour 35MA

Nifty found support at 35ma and trendline and as I am typing it has moved up to 5496!!!

5 min chart

The trendline is broken and NF falling!!

11 am update

Nifty has broken the trendline and moving downwards.

EOD March 8 2011

Nifty traded in very narrow range and has closed just below DHEMA 5525 but above the 5DEMA (5491) and Week 5EMA.

Intraday plan for 9th march:

Buy above 5530 SL Hourly close below 5520 Trail SL till closes below HrHEMA
Sell below 5520 SL hourly close above 5530.

Hour graph

Channel resistance line reached at 5525 NS

5min graph

The trendline resistance is reached at 5525 in 5min NF  chart.

EOD mar 7 2011

Nifty gained support at 20SMA(5410) and has retraced 38.2% of fall from 5608 to 5408 today but has closed below the 5EMA(5476) and above the day pivot of 5455.

Tommorow's action plan: (Intraday)

Short below 5475 with SL @ Hourly close above 5480 (Just above 5EMA and Hour HEMA)
possible target - 1. pivot at 5455, 2. DLEMA - 5421
Long above 5485 with SL @ Hourly close below 5470 (just below 5EMA and Hour HEMA)
Possible targets : 5525 - DHEMA and channel resistance

5 EMA has been taken as nifty has closed below it which indicates weakness.

12.00 noon update

Nifty has broke the day's low the next support being 5410 -20 DSMA

Update 11.00am

Nifty still with support at Dlema at 5428.
At 12.00 noon has made a new low 5425 - break of which will lead tomore downsides.

Nifty got support near DLEMA

In 1st hour Nifty got resisted at 5486 near the D5EMA, and has found support at 5436 - channel support and near the dlema 5428.

Now slowly the premium is developing, and trading above 5456 will keepNifty back into channel.  

WEEKLY ANALYSIS FOR MAR 07 - MAR 11 2011

Day Chart:

1. Move above 5625 will negate the possibility of 4th of 3rd wave. i.e., 3.4. It confirms that the 3 wave is over at 5177 and now the 4th wave is on.
Wave 1 = 6338.5 - 5690
Wave 2 = 5690.8 - 6181
Wave 3 = 6181 - 5177
3. If moved above 5624 then min 1tgt = 5654 = wave A = 50 day MA
4. If moved above 5654 then 5690 must not be surpassed for the 5th wave move down - as it will negate the possibility of 5 wave down move and the ABC correction is over at 5177