1. Supports are at about 5872,
5867 and 5856 while resistances are at about 5880, 5896 and 5925. Other levels
to watch are 5940 and 5965. Two likely +WWs give about 5936 and 5977 (+WWs with
higher targets are not mentioned as of now). Two likely -WWs give about 5864
and 5837 (other -WWs with lower targets are not mentioned presently).
Nifty closed below 5900 thereby remaining
in the range 5850-5925. Hence, it is not bullish yet and will become so only
after closing above 5965. Also, it should be noted that it is yet to break
below Oct high of 5815. If nifty closes below 5823, it may become bearish. It
will be very important for nifty to close above 5879 on 31st Dec to give hope
to bulls.
2. PCR slumps to 0.88 and VIX
also down at 13.74. Pre-open high/low at 5941.15/5870.10
and close at 5887.15. This may indicate a +ve nifty if it remains above 5888
for an hour.
3. AS PER 9.30 STRATEGY, BUY
BELOW 5952NF, TARGET 5977/95, SL 5922.
4. NS has to go above 5906
first and then 5910 to march upwards.
5. A -ww gives 5883 unless NS
goes and remains above 5907.
6. -ww target met.
7. Nifty opened up with a gap,
made a lower high and higher low than those yesterday before closing +ve (as
was indicated by the pre-open data) and also above yesterday's close. The total
range being only about 36 points, none of the targets were met. Importantly,
nifty did not break the level of 5879 stated in the first post, though went
very close to it. However, the daily candle is a Harami.
The intraday chart of nifty spot values with 5 min candles is shown below.
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