LEADER POST for Tuesday (27/11/12)
1. Supports are at about 5631,
5626, 5614 and 5609 while resistances are at about 5634, 5643 and 5658. Three
likely +WWs give about 5656, 5669 and 5684 (+WWs with higher targets are not mentioned
as of now). Three likely -WWs give about 5616 (once below 5653, which is not
reached yet), 5605 and 5585 (once below 5659) (other -WWs with lower targets
are not mentioned presently). A bullish flag gives higher level unless killed
below 5613.
Nifty closed above 5630 once again. What's
more, it made a higher high and low than those on Friday. But, the daily candle
is an imperfect hanging man, which is a bearish sign and hence trade carefully,
particularly because this is an expiry week. A close below 5600 once again and
particularly below 5550 may take it down further to as low as 5400. Nifty now
needs to close above 5667 to maintain a bullish tone.
2. Pre-open
high/low at 5659.85/5617.45 and close at 5658.50. This may indicate a +ve nifty
after a gap up open.
3. Note that
5657.65NF was last week's high. A open above that will please the bulls.
4. Target of
first two +WWs and bullish flag met.
5. AS PER
9.30 STRATEGY, BUY BELOW 5654NF, TARGET 5700/19 SL 5624.
6. Target of
third +ww also met.
7. Target of
9.30 strategy met without giving an entry.
8. Nifty
opened up with a gap and never looked back. It not only made a new high but
also closed strongly at a recent new high. It thus closed +ve as indicated by
the pre-open data and also above yesterday's close. In the process, the targets
of all the three +WWs and the bullish flag of the first post were met. Also met
was target of 9.30 strategy trade but without giving an entry.
The intraday chart of nifty spot values with 5 min candles is shown below.
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