ANALYSIS FOR SEPT 11

Today's Support - 20 DMA/Day HEMA - 5328-5335. An EOD close below this would drag Nifty Down towards Day LEMA/50 DMA - 5280-70.

Now lets see what charts say:

DAY CHARTS:

From the Above two charts it is clear that NEXT RESISTANCE 5410-20. Breakout would lead to 5500++. There is a Highly Bullish Possibilities with all Day EMA's alligned in a Bullish Manner and
Converging of EMA's. Fast Rise setup exists between 5EMA and 13 EMA and 26 EMA
5EMA - 5311
13 EMA - 5307
26 DMA - 5298

HARMONIC PATTERN IN DAY CHARTS:

Alternate:1 - IF NIFTY FINDS RESISTANCE AT 5400 LEVELS then,
Developing Bullish Bat patternXA - 5032-5449
B - 5215 - approx 50% retr of XA
Holding B - Proj for C:
5332 - 50%
-61.8% 5360
70.7% - 5380
78.6% - 5399
88.6% - 5422

If the Resistance Breaks and the Inverse H&S pattern plays out then :
Alt -2:
ABCD Pattern
AB - 5032 -5449
C - 5215 -approx 50% retr of AB
Holding C Proj for D:
113% -
127% - 5512
141.4% - 5545
161.8% - 5593

SYNOPSIS:
HOLD LONGS (taken on Friday sept 6)  WITH TRAILED STOPLOSS EOD close 5300-5290.
Breakdown below 5290 Breakout above 5400.

CHECK LIST-DAY
CLOSE	5363	5 SMA	5278
PIVOT	5363	5EMA	5311
HI EMA	5328	10EMA	5306
LOW EMA	5289	13EMA	5307
prev HI	5375	20 Hr MA	5320
prev LOW	5349	50 Hr MA	5281
20 DMA	5333	100 Hr MA	5320
50 DMA	5276	200 Hr MA	5311
100 DMA	5162