LEADER POST for Thursday (08/11/12)
1. The supports are at about
5740, 5731 and 5717 while the resistances are at about 5773, 5788 and 5800.
(+WWs with higher targets are not mentioned as of now). Three likely -WWs give
about 5728, 5696 (once below 5749) and 5682 (once below 5736) (-WWs with much
lower levels are not mentioned presently). A bullish flag can give much higher
level unless killed below 5734 while a bearish flag can give lower level unless
killed above 5766.
Nifty finally closed above 5730. The nifty
clearly looks bullish in near term. However, a reaction seems likely before the
next upmove, having gone up about 190 points from the previous low.
2. PCR at
1.11 and VIX at 14.51. It will be interesting to see these EOD today.
Pre-open high/low at 5850.70/5709 and close at 5709. This may indicate a +ve
nifty after a gap down open.
3. AS PER
9.30 STRATEGY, BUY BELOW 5759NF, TARGET 5788/5803 SL 5729.
4. The
targets of first -ww and the bearish flag met in open itself.
5. If low
was about 5694 then target of second -ww also met.
6. Nifty
opened down with a big gap based on global cues but that was the end of it. It
did not go up much but managed to close +ve as indicated by the pre-open data
but below yesterday's close. In the process, targets of the first two -WWs and
the bearish flag mentioned in the first post were met. However, the total range
being small, the target of 9.30 strategy trade was not met.
The intraday chart of nifty spot values with 5 min candles is shown below.
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