4/12/15 - EOD ANALYSIS WITH LEVELS AND SIGNALS
NIFTY 50 SPOT
Yesterday it signaled Short and continued its stand by gap-down open, and did not trigger upside level. As of EOD, it still signals Short with SL 7863.
Monthly asserted its trend by signalling Short, by Close today, below Low 7802. Weekly has also closed with Short signal and also Resistance near its high near 8004, or near WCEma 7884. Daily and Hourly continued its yesterday signals of clear Short, by closing below respective lows of 7846 and 7791. Strategy remains Sell on Rise near 7850+, with SL of 7900. Keep close watch on 7923 - 7928 which are 21sma and 34 sma in Hourly.
Yesterday signal of Short carried today with gap-down open and did not trigger Upside level, posted after pre-open today morning. At EOD, still Short with SL of 17110.
Though Monthly time-frame is yet to assert, Weekly-Daily-Hourly has clear Short signal. As per gap-down, yesterday low of 17081 may be major resistance and target may be 16300.
NIFTY 50 SPOT
| 7817.60 | -7821.40- | 7775.70- | 7781.90 |
| M | 8200 | 7802 | 7976 | X | S |
| W | 8006 | 7813 | 7884 | RST | S |
| D | 7901 | 7846 | 7863 | X | SS |
| H | 7812 | 7791 | 7799 | X | SS |
Resistances: ((7791-99) - (7802-12/13-46-63-84) - 7976.
Apparently no support, but we may keep eye on last swing lows at 7772-7725-7714.
Gap down today shows 7854 (yesterday low) as SL for short, target 7585.
NIFTY BANK SPOT
| 17009.45- | 17009.45- | 16880.35- | 16897.30 |
| M | 17911 | 16823 | 17349 | X | X |
| W | 17457 | 16902 | 17142 | X | SS |
| D | 17233 | 17057 | 17110 | X | SS |
| H | 16970 | 16911 | 16936 | X | SS |
Resistances: (16902-11-36-70-81) - 17057 - (17110-42)
Support left currently at MLEma of 16823.
Since in highly oversold zone since last 20 hours, keep close watch on 7854 in Nifty 50 spot and 17081 in Nifty Bank spot, above which no short may be carried.
