1. Supports are at about 5690, 5683, 5673
and 5653. The nearest gap yet to be filled on lower side is at 5648. Also, 200
sma is at about 5556 and the previous low was 5548 in Nov '12 from where this
rally started. Resistances are at about 5715, 5791 and 5809. Two unfilled gaps
on higher side are at 5855 and 5943. One likely +WW gives about 5786 (once
above 5691) (other +WWs with higher targets are not mentioned as of now). A
likely -WW gives about 5668 (once below 5704) (-WWs with much lower targets are
not mentioned presently). A HnS has broken down and can give about 5550 unless
nifty goes up from here and remains above 5970.
Nifty recovered a bit from the lows but could not close above 5700. There
is a mild +ve div on STS, CCI and RSI on daily chart. Also, nifty closed at 34
ema on weekly chart. Daily candle is a Doji/hammer. Bulls will hope that bottom
is in place while bears will hope for further downside. Only global clue and/or
liquidity (including from DIIs) can rescue nifty.
2. AS PER 9.30 STRATEGY, BUY BELOW 5738NF,
TARGET 5776, SL 5708.
3. Target of 9.30 strategy trade met but
without giving a chance of an entry.
4. Target of +ww met.
5. Nifty opened up with a gap, remained
flat for about two hours before making an upmove. It made a higher high and low
than those yesterday before closing strongly +ve and also above yesterday's
close. The target of +ww of the first post was met as also that of 9.30
strategy though without giving a chance of an entry. The daily candle is a
bullish Marubuzo.
The intraday chart of nifty spot values with 5 min
candles is shown below.
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