LEADER POST for Friday (23/11/12)
1. Supports are at about 5619
and 5547 while resistances are at about 5634, 5645 and 5693. Two likely +WWs
give about 5646 and 5662 (+WWs with higher targets are not mentioned as of
now). Four likely -WWs give about 5620, 5613, 5595 and 5564 (other -WWs with
lower targets are not mentioned presently). A falling channel mentioned a few
days ago seems to have broken out and can give about 5750/75 unless nifty goes
below 5534 again.
Nifty closed above 5600 once again. What's
more, it just crossed 5643 before closing below 5630. Thus it is placed at a
crucial break out stage though still in the resistance zone below 5643 and a
daily and weekly close above 5660 can only be bullish for next week. However, a
close below 5600 once again and particularly below 5550 may take it down
further to as low as 5400.
2. PCR at
1.06 and VIX at 14.91. Pre-open high/low at
5643.30/5615.45 and close at 5635.45. This may indicate mildly +ve market after
a slight gap up opening.
3. AS PER
9.30 STRATEGY, SELL ABOVE 5634NF TARGET 5604/5585 SL 5664.
4. Target of
first -ww met.
5. Second
-ww target met.
6. Target of
third -ww met.
7. Nifty
opened up with a small gap but quickly reacted to make a lower high and low
than those yesterday before closing -ve and just below yesterday's close. The
total range was about 40. The targets of first three -WWs and that of 9.30
strategy trade were met. The daily candle is a hanging man.
The intraday chart of nifty spot values with 5 min candles is shown below.
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