Analysis for Aug 26

Week Pivot = 4925

Day Pivot = 4860
Day Lema = 4863
5ema = 4899

Nifty would find strength only if it trades above the pivot level 4860.

Stop Loss for existing longs :
Intraday : An Hourly close below 4825 yesterday's low
Positional SL = 4775
Fresh Buy at 4700-20 levels with 4675 as SL

Book out current longs at:
NS 4860 - 4890

Fresh short at 4890 - 4900 with 4925 as SL





 

Harmonic bat pattern NS hour

XA = 5194 - 4798
B = 4965 = 38.2% of XA
C=4839 =approx 78.6% of AB
tgts of D 4908,4927,4950,4981,5036

Aug 26:
The above pattern is not fully developed. must redraw the chart s per the new low

Aug 29:
The above pattern is invalid as new lows have been formed. It is taking the shape of an ABCD formation.

Fast fall in 5min NF

This fastfall setup can be valid upto 4909 NF.

Fast fall Materialised!!

Weekly support

The long term trendline is supporting the corrent low of Nifty at 4796 and 4808. Holding these lows an upmove upto 5000+ levels may be expected. breaking of this would lead to 4650 levels.



Analysis for Aug 25

Week Pivot = 4925

Day pivot = 4909
Day Lema = 4882
Day 5ema = 4929
5EMA  > close above 4930.
Hour close above 4930 would break the Hour trendline.

In day trendline will be a support for a low of 4875.

So, Action Plan for the day:

Buy above 4885 (day Lema) with SL close below yesterday Low at 4775
Sell below 4925 (week pivot and 5ema) with SL close above 4935.

Analysis for Aug 24

The most basic pattern is the AB=CD. In this pattern, the A to B leg

is the first price move. After a brief retracement from point B to point C, the

pattern will complete the C to D leg, which is the same length as AB.

Simply, after the AB and BC legs have been established, you project the AB

length from point C.

The price legs should be generally symmetrical possessing a

consistent slope. It is important to study the time duration of each leg. The

AB and CD legs should be approximately the same length of time to

complete.

Although this is an ideal situation, the time

duration does not need to be exact. If the price legs are close, the pattern is

still valid

As per the projection AB= 755 points
                               So, D = point C - 755 = 5205-755 = 4450 final tgt

Day Chart