LEADER POST for Thursday (06/12/12)
1. Supports are at about 5891,
5883 and 5811 while resistances are at about 5907, 5915 and 5930. The next
important level is 5945. A likely +ww gives about 5930 (+WWs with higher
targets are not mentioned as of now). Three likely -WWs give about 5890 (once
below 5930, which is yet to be reached), 5867 and 5844 (once below 5876) (other
-WWs with lower targets are not mentioned presently).
Nifty closed at a new high. However, the
daily candle is an Evening Doji Star, which is a bearish sign and gets defeated
only if nifty preferably opens gap up and closes strongly +ve. If nifty goes
below 5854, one needs to be cautious but if it closes below 5827, it may be
worrisome. I feel it may react a bit to consolidate and will be a "buy on
dips" story. Much higher levels are expected.
2. PCR flat
at 1.07 and VIX up at 16.62. Pre-open high/low at
5940.50/5900.50 and close at 5926.30. This may indicate a flat to -ve nifty
after gap up open.
3. AS PER
9.30 STRATEGY, SELL ABOVE 5974NF, TARGET 5908/03, SL 6004.
4. Target
already met in first 10 min without giving chance of entry and an entry later
is also doubtful.
5. Targets
of first two -WWs met while targets of +ww and third -ww almost met.
6. Target of
third -ww met.
7. Target of
+ww also met.
8. Nifty
opened up with a gap at a new high but tanked immediately, making a lower low
than yesterday. In the process, target of 9.30 strategy trade was met in the
first 10 min without giving chance of an entry. Also met were targets of all
the three -WWs. However, in late afternoon, it rallied sharply to make a higher
high (new high again) thereby giving target of +ww. It also closed slightly +ve
and also above yesterday's close. The daily candle is a long legged Doji.
The intraday chart of nifty spot values with 5 min candles is shown below.
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