ANALYSIS FOR SEPT 6

INTRADAY UPDATE 3.00 pm:

Intraday trade done - Bought at 5245NF - and sold at 5275NF.

ANALYSIS FOR SEPT 6:
Nifty has poised in an interesting scenario. In the Monthly charts,  it is seen that from the Month of  April it has not scaled 5300 on Monthly Closing Basis. A Cluster of resistance is seen at 5300. Past two months, the Body of the Candle has been very narrow between 5285 - 5215- not even a 100 point range. It has been a spinning top both the previous months - showing high indecisiveness.

HAPPY TEACHERS' DAY

MY PRANAMS TO ALL MY TEACHERS!!!! I PRAY  GOD TO BLESS THEM WITH GOOD HEALTH AND PROSPERITY.

Nifty managed to scroll back and close above the 50 Day MA and Day Low EMA giving some hope for the Bulls.

Analysis for Sept 4

INTRADAY UPDATE:
Bank Nifty at Trendline Support:

ANALYSIS FOR SEPT 4:

Nifty has closed below the 50 DMA and all other Day parameters presenting a bleak picture. Supports at 5230-20 levels. An EOD close below these levels would drag Nifty further down to 5150 levels.

An Hourly close above the Day Pivot/ Day Lema @ 5265 levels would be the first hint of strength.

The Aggressive SL for the Longs taken is Hourly close below 5250NS. Positional SL would be an EOD close below 5200NS - based on trendline support and Month 5EMA @ 5214

Stop Loss for existing shorts would be EOD close above 5300NS.

If Nifty gains strength above 5290 and has a Hourly close above 5290, then Fresh Longs would be taken in case SL hits before.

CHECK LIST-DAY
CLOSE	5254	5 SMA	5290
PIVOT	5264	5EMA	5289
HI EMA	5328	10EMA	5313
LOW EMA	5268	13EMA	5316
prev HI	5296	20 Hr MA	5270
prev LOW	5243	50 Hr MA	5317
20 DMA	5335	100 Hr MA	5348
50 DMA	5260	200 Hr MA	5281
100 DMA	5161

ANALYSIS FOR SEPT 3

Nifty ended the Month at a low of 5259 - just at the support of 50 day MA and Week LEMA - keeping the bulls hopes alive.

As mentioned earlier Nifty is currently at the support level of 5230-40.

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