LEADER POST for Thursday (01/11/12)
1. The supports are at about
5580, 5577, 5570 and 5540 while the resistances are at about 5629, 5664 and
5689. Three likely +WWs give about 5660, 5706 and 5731 (+WWs with higher
targets are not mentioned as of now). Two likely -WWs give about 5598 and 5544
(-WWs with much lower levels are not mentioned presently). The daily chart
shows a mild +ve div in rsi and the indicators are at/near oversold levels.
Nifty has barely managed to close above 34
ema but can take support at 55 ema or 50 sma, which are at about 5545/48, if it
goes down. While it is possible that it may revisit 5432, which is the gap
created on 13/14 Sept, it may have a few surprises up its sleeve and hence one
must trade with proper SLs. To begin with, nifty now needs to close above 5680
to give hopes of an uptrend.
2. PCR flat
at 1.03 and VIX down at 14.40.
3. AS PER
9.30 STRATEGY, SELL ABOVE 5616NF, TARGET 5595 SL 5646. If SL hit BUY
below 5659NF, target 5680 SL 5629.
4. (posted
by others) Sell trade’s SL gone.
5. Target of
reverse trade met.
6. Nifty
opened down with a small gap but went up to close +ve and also above
yesterday's close. The SL of 9.30 strategy trade was hit and the target of
reverse trade was met. Though today's candle is bullish, the total range was
about 47 points only.
The intraday chart of nifty spot values with 5 min candles is shown below.
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