Daily_Nifty_VP's View-30/04/13

LEADER POST for Tuesday (30/04/13)

1.         Supports are at about 5875, 5860 and 5838 while resistances are at about 5918, 5925 and 5960. Previous lower and higher levels to watch are 5853 and 5971. A +WW gives about 5935 (once above 5860, which is yet to be reached) (+WWs with higher targets are not mentioned as of now). A likely -WW gives about 5842 (once below 5904) (-WWs with lower targets are not mentioned presently). Two bullish flags can give higher level unless killed below 5630/5885.

Nifty rose again to close above 5900 and nullified the bearishness of Friday's Harami. Thus its bullish sentiment continues. However, the daily candle is an Inside Bar, a likely bearish sign, which will be confirmed if nifty goes below 5860 and closes below 5904 on Tuesday. Nifty now needs to close consistently above 5955. A close below first 5850 followed by 5790 may trigger further selling. Bulls will hope that the improved micro-economic situation in India will take market further up. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR flat at 1.05 and VIX up at 14.33. Pre-open data suggests uncertain but a +ve nifty unless it remains below 5918 till afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5963NF, TARGET 5995, SL 5933.

4.         If SL is hit, sell above 5938NF, target 5905, SL 5968.

5.         Target of +ww and one bullish flag of the first post met in the open itself.

6.         SL hit.

7.         Target of reverse trade met without giving an entry.

8.         Nifty opened up with a big gap to make a higher high but reacted immediately to make a lower low also. It recovered in the afternoon to close -ve but above yesterday's close. The targets of +WW and one of the bullish flags of the first post were met. However, SL of 9.30 strategy trade was hit and target of reverse trade was met without giving chance of an entry. The daily candle is like a hanging man and a Doji.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-29/04/13

LEADER POST for Monday (29/04/13)

1.         Supports are at about 5860, 5826, 5807 and 5790 while resistances are at about 5888, 5925, 5943 and 5968. Previous lower levels to watch are 5853 and 57901. (+WWs with higher targets are not mentioned as of now). A likely -WW gives about 5807 (once below 5871) (-WWs with lower targets are not mentioned presently). Two bullish flags can give higher level unless killed below 5630/5835 while a bearish flag can give lower level unless killed above 5885.

Nifty fell to close below 5900 as posted for Friday but its bullish sentiment continues. However, the daily candle is a Harami, a likely bearish sign and it will confirmed if nifty closes below 5871 on Monday. Nifty now needs to close consistently above 5955. A close below 5850 first followed by 5790 may trigger further selling. Bulls will hope that the improved micro-economic situation in India will take market further up. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR flat at 1.05 and VIX down at 13.88. Pre-open data suggests a -ve nifty after a flattish open unless it remains above 5900 by afternoon.

3.         AS PER .9.30 STRATEGY, SELL ABOVE 5874NF, TARGET 5850/35, SL 5904.

4.         If SL is hit, buy below 5913NF, target 5938, SL 5883.

5.         SL hit.

6.         Nifty opened up with a small gap and remained in a narrow range of about 30 till late afternoon before rising sharply to make a higher high and low than those on Friday before closing +ve and also above Friday's close. The SL of 9.30 strategy trade was hit but target of reverse trade was missed by about 3 points.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-26/04/13

LEADER POST for Friday (26/04/13)

1.         Supports are at about 5870, 5857, 5824 and 5804 while resistances are at about 5935 and 5960. Previous higher levels to watch are 5946 and 5971. (+WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5862 (once below 5930, which is not reached yet) and 5797 (once below 5862) (-WWs with lower targets are not mentioned presently). A bullish flag can give much higher level unless killed below 5630.

Nifty rose again to close above 5900, at a new high since 8th March, thereby nullifying bearish sign of Tuesday's hanging man and continued its bullish sentiment. It now appears that nifty will rally from here. However, the low volume on Thursday shows tiredness and it may react a bit from here or from slightly higher levels. Nifty now needs to close consistently above 5955. A close below 5790 may trigger further selling. Bulls will hope that the improved micro-economic situation in India will take market further up. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         Pre-open data suggests a -ve nifty after a small gap down open unless it remains above 5913 till afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5911NF, TARGET 5874, SL 5941.

4.         Target of first -ww met.

5.         Nifty opened gap down and continued to fall. It attempted a recovery in the afternoon but it was short lived. It thus made a lower high and low than those yesterday before closing -ve and also below yesterday's close. The target of first -ww of the first post was met. However, the target of 9.30 strategy was missed by about 3 points. The daily candle is a Harami.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-25/04/13

LEADER POST for Thursday (25/04/13)

1.         Supports are at about 5808, 5811, 5790 and 5758 while resistances are at about 5845, 5870 and 5956. Previous higher levels to watch are 5864/5946/5971 while a gap exists at 5873. A likely +WW gives about 5892 (other +WWs with higher targets are not mentioned as of now). A likely -WW gives about 5795 (-WWs with lower targets are not mentioned presently). Two bullish flags can give much higher level unless killed below 5738/5630.

Nifty closed flat but above 5800 again thereby continuing its bullish sentiment. It now appears that nifty will rally from here. However, the daily candle is a Red, hanging man, a likely bearish sign. The slight consolation is that nifty fut candle is a Green, long legged Doji. To defeat it, nifty must close above 5836 with a green candle, preferably with a gap up open. Nifty now needs to close consistently above 5868 and then above 5955. A close below 5750 may trigger further selling. Bulls will hope that the improved micro-economic situation in India will take market further up. Trade carefully since volatility will continue to be high, Thursday being the expiry day. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.22 and VIX down at 15.07. Pre-open data suggests a +ve nifty after a gap up open unless it remains below 5856 till afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5887NF, TARGET 5854, SL 5917.

4.         If SL is hit, buy below 5907NF, target 5943, SL 5877.

5.         SL hit at last.

6.         Target of one of the bullish flags of the first post was met.

7.         Nifty opened gap up and rose to make a higher high before reacting sharply but still made a higher low. Late in the day, it rose sharply to make a new high before closing +ve (as indicated by the pre-open data) and also above Tuesday's close and at a new high since 8th March. The target of 9.30 strategy trade was missed by 7 points and then its SL was hit too late in the day to give target of reverse trade.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-23/04/13

LEADER POST for Tuesday (23/04/13)

1.         Supports are at about 5830, 5811, 5800, 5770 and 5757 while resistances are at about 5845, 5908 and 5948. Previous higher levels to watch are 5864/5946/5971 while a gap exists at 5873. A likely +WW gives about 5886 (other +WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5708 (once below 5831) and 5677 (once below 5761) (-WWs with lower targets are not mentioned presently). Two bullish flags can give much higher level unless killed below 5738/5630.

Nifty barely crossed falling TL from January high and closed strongly above 5800 thereby continuing its bullish sentiment. It now appears that nifty will rally from here. However, it now needs to close consistently above 5868. A close below 5750 may trigger further selling. Bulls will hope that the improved micro-economic situation in India will take market further up. Trade carefully since volatility will continue to be high, this week being expiry week. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.17 and VIX up at 16.22. Pre-open data suggests a +ve nifty after a slight gap up open unless it remains below 5820 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5823NF, TARGET 5789, SL 5853.

4.         If SL is hit, buy below 5843NF, target 5877, SL 5813.

5.         SL considered hit since it was just 0.55 away.

6.         Nifty opened up with a small gap but reacted immediately. It made a slightly higher low and a double top with yesterday before closing slightly -ve but slightly above yesterday's close. However, nifty fut closed slightly +ve and also above yesterday's close. The SL of 9.30 strategy was almost hit at the end of the day but none of the targets were met. The daily candle of spot nifty is a hanging man while that of nifty fut is a long legged doji.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-22/04/13

LEADER POST for Monday (22/04/13)

1.         Supports are at about 5772, 5740, 5724, 5713, 5693 and 5650 while resistance is at about 5825 while previous higher levels to watch are 5946/71. Three likely +WWs give about 5808, 5811 and 5837 (other +WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5737 (once below 5761) and 5700 (once below 5741) (-WWs with lower targets are not mentioned presently). A bullish flag can give much higher level unless killed below 5710. A rising wedge seems to have broken down and can give about 5555/06 unless nifty continues to go up.

Nifty closed very strongly above 5755. Daily and weekly close above the previous high of 5755, daily close above 200ema, weekly close above 34 ema and weekly candle engulfing real bodies of previous three weeks' candles are all bullish signs. It now appears that nifty will rally from here. However, it now needs to close consistently above 5864. Bulls will hope that the improved micro-economic situation in India will take market further up. Trade carefully since volatility will continue to be high, this week being expiry week. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.15 and VIX down at 15.36. Pre-open data suggests a +ve nifty after a slight gap up open unless it remains below 5770 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5797NF, TARGET 5772, SL 5827.

4.         If SL is hit, buy below 5834NF, target 5860/69, SL 5804.

5.         Targets of first two +WWs met.

6.         SL hit and buy triggered.

7.         SL hit on reverse trade also. Now short again.

8.         SL hit again.

9.         SL hit four times as of now.

10.       SL hit for the fifth time. Now long again.

11.       Target of third +ww and bullish flag of the first post also met.

12.       Nifty opened up with a small gap, made a higher high and low than those on Thursday before closing +ve and also above Thursday's close. The targets of all the three +WWs and bullish flag of the first post were met. However, SL of 9.30 strategy trade was hit on five occasions on either side but target of neither side was met.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-18/04/13

LEADER POST for Thursday (18/04/13)

1.         Supports are at about 5680, 5626 and 5602 while resistances are at about 5704, 5718, 5748 and 5779 while previous crucial higher level to watch is 5755. Three likely +WWs give about 5728 (once above 5661, which is not reached yet), 5767 and 5808 (other +WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5668 and 5616 (once below 5646) (-WWs with lower targets are not mentioned presently). A bullish flag can give much higher level unless killed below 5610. A rising wedge seems to have broken down and can give about 5555 unless nifty goes up again. A IHnS can give about 5750 unless nifty goes and remains below 5581.

Nifty was uncertain and closed flat but below 5700 again, raising doubts about its bullishness. Also, daily candle is a likely evening doji star, a possible bearish reversal sign. Hence, to continue uptrend, nifty must close +ve and well above 5689. But, for a rally to start, nifty must close above 5755. Bulls will hope that the improved micro-economic situation in India will take market further up. Trade carefully since volatility will continue to be high. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.03 and VIX up at 16.36. Pre-open data suggests a +ve nifty unless it remains below 5680 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5687NF, TARGET 5763, SL 5557.

4.         Target of first +ww met.

5.         Second +ww target achieved.

6.         Target of bullish flag and of BO of IHnS of the first post met.

7.         The target of 9.30 strategy trade was met but without getting a chance of an entry.

8.         Nifty opened down with a small gap and then didn't look back. It kept rising making a new high since 19/03 and also a higher low before closing strongly +ve and also strongly above yesterday's close. The targets of first two +WWs, the bullish flag and that of BO of IHnS of the first post were met. The week closed very bullish.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-17/04/13

LEADER POST for Wednesday (17/04/13)

1.         Supports are at about 5676, 5617 and 5567 while resistances are at about 5711 and 5727 while previous crucial higher level to watch is 5755. Five likely +WWs give about 5721, 5764, 5800/05 and 5823 (other +WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5662 (once below 5683), 5627 (once below 5673) and 5542 (once below 5631) (-WWs with lower targets are not mentioned presently). A bullish flag can give much higher level unless killed below 5610. A rising wedge can give about 5555 in case of a BD below 5681. A IHnS can give about 5750 unless nifty goes below 5588.

Nifty rose sharply again and closed just below 5700, clearly indicating some bullishness. However, for a rally to start, nifty must close above about 5755. Bulls will hope that the improved fundamental situation in India in view of likely reduction in Current Account Deficit and inflation coupled with chances of higher rate cut by RBI will take market further up. Trade carefully since volatility will continue to be high. Only global cues and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.02 and VIX down at 16.25. Pre-open data suggests a +ve nfity unless it remains below 5676 by afternoon.

3.         AS PER 9.30STRATEGY, SELL ABOVE 5690NF, TARGET 5667/55, SL 5720.

4.         If SL is hit, buy below 5729NF, target 5753, SL 5699.

5.         SL hit.

6.         Today could be the day of SLs being hit on both sides.

7.         It will be volatile today after the rise of last 3 days.

8.         SL of reverse trade also hit. Now short again.

9.         Nifty opened up with a gap and made a higher low. It then fell sharply but made a higher low before closing -ve but flat w.r.t. to yesterday's close. The target of first +ww of the first post was met. However, SL on either side trades of 9.30 strategy was hit but neither side target was met. The daily candle is a likely evening doji star.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-16/04/13

LEADER POST for Tuesday (16/04/13)

1.         Supports are at about 5557/51, 5535 and 5508 while 5494 and 5477 are previous levels to watch. Resistances are at about 5573, 5584, 5604, 5629 and 5670. While 200 sma lies at aboyt 5653, the previous gap is at about 5673. Four likely +WWs give about 5600, 5636, 5654 and 5688 (other +WWs with higher targets are not mentioned as of now). A -WW gives about 5544 (-WWs with lower targets are not mentioned presently). A bullish flag can give higher level unless killed below 5535. A IHnS can give about 5750 upon BO above 5595.

Nifty rose sharply to close above 5550 and particularly above 5559 mentioned in Monday's thread thereby giving a ray of hope to bulls. However, overall bearish tone is not gone. To begin with, nifty must cross 5603 and for continuation of uptrend, it must also cross 5655/75. But for a rally to start, it must close above about 5750. Though global markets have fallen in view of the crash in commodities markets, it's a God's gift for India in the short term as its Current Account Deficit and inflation will go down, giving hopes of a rate cut by RBI. Trade carefully since volatility will continue to be high. Only global cues and/or liquidity (including from DIIs) can take nifty up.

2.         PCR up at 0.93 and VIX up at 16.61. Pre-open data suggests a +ve nifty unless it goes below 5515 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5531NF, TARGET 5591/5601, SL 5501.

4.         Targets met without giving chance of an entry.

5.         Target of first +ww met.

6.         Target of second +ww met.

7.         Target of third +ww met.

8.         Target of bullish flag of the first post also met.

9.         Target of fourth +ww also met.

10.       In spite of very weak global markets, nifty opened down with only a small gap and perhaps there was a hint in it of shape of things to come. It started rising soon upon open and kept on rising throughout the day bulldozing past all resistance levels to make a much higher high and low than those yesterday before closing strongly +ve and also strongly above yesterday's close. The targets of all the +WWs and the bullish flag of the first post were met as also the target of 9.30 strategy trade though without giving chance of an entry. Nifty also closed well above 200sma.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-15/04/13

LEADER POST for Monday (15/04/13)

1.         Support is at about 5516 and 5509 while 5494 is a level to watch. Resistances are at about 5532, 5544, 5569, 5580, 5603 and 5621. Three likely +WWs give about 5620 (once above 5536), 5638 (once above 5561) and 5683 (once above 5578) (other +WWs with higher targets are not mentioned as of now). A -WW gives about 5513 (-WWs with lower targets are not mentioned presently). An AT can give about 5590 upon BO above 5542.

Nifty fell again and closed below 5550, thereby hinting at lower levels to come. However, the daily and weekly candles are morning doji stars, a likely bullish sign. To confirm this reversal, nifty must close +ve, preferably above 5559 and with a gap up open. To begin with, nifty must cross above 5542 and 5603 and for continuation of uptrend, nifty must cross 5650. But for a rally to start, it must close above 5750. Volatility will continue to be high. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         PCR down at 0.89 and VIX down at 16.45. Pre-open data suggests a +ve nifty unless it remains below 5524 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5531NF, TARGET 5551/65NF, SL 5501.

4.         Target of -ww met during open itself.

5.         Target of 9.30 strategy met.

6.         Second target also met.

7.         Nifty opened gap down and made a lower low but then rose sharply to make a higher high before closing strongly +ve and also above Friday's close though it later reacted due to fall in European markets. The target of -ww of the first post was met as also that of 9.30 strategy trade.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-12/04/13

LEADER POST for Friday (12/04/13)

1.         Support is at about 5582 while 5537 is a level to watch. Resistances are at about 5613 and 5630. Four likely +WWs give about 5640 (once above 5535), 5658, 5675 (once above 5586) and 5684 (once above 5577) (other +WWs with higher targets are not mentioned as of now). Two -WWs give about 5535 (once below 5581) and 5528 (once below 5607) (-WWs with much lower targets are not mentioned presently). A IHnS and a CnH can give abut 5643/5750 upon BO. An AT can give about 5733 upon BO above 5705. Two bullish flags can give higher level unless killed below 5567/5520.

Nifty rose again but closed below 5600, thereby giving some hope to bulls. But, overall bearishness is not over yet. However, a mild +ve div has appeared on weekly chart. The daily candle is a hanging man but it's not at the top of an uptrend and hence may not be a bearish sign. For continuation of uptrend, nifty must cross 5650 but for a rally to start, it must close above 5750. Volatility will continue to be high. Trade carefully as IIP nos. will be announced on Friday. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         Pre-open data suggests a +ve close of nifty if it opens at/below 5550.

3.         Targets of both -WWs met in open.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5524NF, TARGET 5570, SL 5494.

5.         A likely HnS can give 5510/05 (upon BD).

6.         Target HnS BD met.

7.         Nifty opened down with a big gap and thus made a lower high and low than those yesterday before closing slightly +ve but strongly below yesterday's close. The targets of both the -WWs of the first post were met as also that of BD of a HnS identified during the day. Both the daily and weekly candles are likely morning doji stars.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-11/04/13

LEADER POST for Thursday (11/04/13)

1.         Supports are at about 5549, 5482 and 5462 while resistances are at about 5562 and 5638. Five likely +WWs give about 5602, 5614 (once above 5543), 5642, 5672 (once above 5587) and 5712 (other +WWs with higher targets are not mentioned as of now). Two -WWs give about 5535 and 5522 (-WWs with much lower targets are not mentioned presently). A falling wedge BO can give 5743 unless nifty goes and remains below 5514. A Bullish flag can give higher level unless killed below 5513.

Nifty first fell but rose sharply to close above 5550, thereby giving some hope to bulls. But, overall bearishness is not over yet. However, a mild +ve div has appeared on weekly chart. Also, the daily candle is a green hammer, a possible bullish continuation sign. For continuation of uptrend, nifty must cross above 5650. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         PCR up at 0.88 and VIX down at 16.49. Pre-open data suggests a +ve nifty unless it goes below 5537.

3.         Target of first +ww met in the open.

4.         AS PER 9.30 STRATEGY, SELL ABOVE 5581NF, TARGET 5553, SL 5611.

5.         If SL is hit, buy below 5608NF, target 5637, SL 5578.

6.         If SL is hit, buy below 5608NF, target 5637, SL 5578.

7.         SL of 9.30 strategy trade hit after giving its target. Just like yesterday.

8.         SL of reverse trade also hit. Now short again.

9.         Nifty opened gap up but quickly reacted. However, it managed to make a higher high and low than those yesterday before closing -ve but above yesterday's close. The target of first +ww of the first post was met as also the target of 9.30 strategy trade. Then its SL was hit and then, instead of meeting target of reverse trade, SL of reverse trade was also hit. Daily candle is a hanging man.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-10/04/13

LEADER POST for Wednesday (10/04/13)

1.         Supports are at about 5475, 5433 and 53560 while resistances are at about 5521, 5580 and 5658. A likely +WW gives about 5600 (once above 5497) (other +WWs with higher targets are not mentioned as of now). (-WWs with much lower targets are not mentioned presently). A Bearish flag can give much lower level unless killed above 5560.

Nifty fell sharply after making a higher high and closed below 5500, thereby hinting at further bearishness. Also, the +ve div on daily chart has been killed. However, the daily candle is an outside bar, a possible reversal sign. For confirmation of a reversal, nifty must close above 5537, preferably with a gap up open. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         PCR slightly up at 0.83 and VIX slightly up at 16.82. Pre-open data suggests a +ve nifty after a gap up open unless it goes below 5488.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5514NF, TARGET 5487, SL 5544.

4.         If SL is hit, buy below 5543NF, target 5571, SL 5513.

5.         Target of 9.30 strategy trade met.

6.         SL of 9.30 strategy trade was hit after reaching target.

7.         Target of reverse trade also met.

8.         Nifty opened up with a gap and reacted till afternoon to make a lower low. It rose sharply later but could not make a higher high. However, it closed +ve and also above yesterday's close. Volatility was so high that first, the target of 9.30 strategy was met then its SL was triggered and then the target of reverse trade was also met. The daily candle is a hammer.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-09/04/13

LEADER POST for Tuesday (09/04/13)

1.         Supports are at about 5532 and 5500 while resistances are at about 5554, 5589 and 5671. Two likely +WWs give about 5633 (once above 5532) and 5657 (once above 5596) (other +WWs with higher targets are not mentioned as of now). A likely -WW gives about 5494 (-WWs with much lower targets are not mentioned presently). A falling wedge can give about 5643 if nifty goes and remains above 5570.

Nifty fell again and closed below 5550, thereby hinting at further bearishness. However, +ve div still persists on daily chart. Also, the daily candle is an inverted hammer, a possible reversal sign. For confirmation of a reversal, nifty must close above 5575, preferably with a gap up open. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         PCR slightly down at 0.8 and VIX up at 16.77. Pre-open data suggests a +ve nifty after a gap up open unless it goes below 5532.

3.         First 5tf candle is a Doji hence be alert.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5606NF, TARGET 5627/43, SL 5576.

5.         If SL is hit, sell above 5565NF, target 5543, SL 5595.

6.         SL hit after target missed by less than 5 points.

7.         Target of reverse trade met.

8.         Target of -ww met.

9.         Nifty opened gap up, made a higher high and then fell sharply in the afternoon thereby making a lower low before closing -ve and also below yesterday's close. The target of -ww of the first post was met. However, the target of 9.30 strategy was just missed and then its SL was hit and then target of reverse trade was met. The daily candle is an outside bar.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-08/04/13

LEADER POST for Monday (08/04/13)

1.         Supports are at about 5534, 5525, 5502 and 5409 while resistances are at about 5560, 5580, 5618, 5646 and 5688. Two likely +WWs give about 5566 (once above 5534) and 5653 (once above 5599) (other +WWs with higher targets are not mentioned as of now). A likely -WW gives about 5494 (-WWs with much lower targets are not mentioned presently). Two falling wedges and a channel can give about 5643/5734/45 if nifty breaks out above 5557.

Nifty fell again and just managed to close above 5550, thereby hinting at further bearishness. However, +ve div still persists on daily chart. Also, the daily candle is a likely morning star, a possible reversal sign. For confirmation of a reversal, nifty must close above 5608, preferably with a gap up open. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         PCR down at 0.81 and VIX up at 16.16. Pre-open data suggests a -ve nifty after a flattish open unless it remains above 5675.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5542NF, TARGET 5592, SL 5512.

4.         Target of first +ww was met.

5.         Nifty opened flat, made a lower high and higher low (though nifty fut made a lower low) than those on Friday and closed -ve (as indicated by the pre-open data) and also below Friday's close. But the target of 9.30 strategy trade was not met as the total range was only about 32 points. The daily candle is an inverted hammer.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-05/04/13

LEADER POST for Friday (05/04/13)

1.         Support is at about 5560 while previous low to watch is 5548. Resistances are at about 5583, 5617, 5686 and 5719. A number of likely +WWs give about 5600/03 (once above 5563/75), 5647 (once above 5586), 5708 (once above 5565), 5724 (once above 5673) and 5766 (once above 5578) (other +WWs with higher targets are not mentioned as of now). A likely -WW gives about 5499 (-WWs with much lower targets are not mentioned presently). A falling wedge/channel can give about 5734/45 if nifty breaks out above 5585/94. A bearish flag gives lower level unless killed above 5686. The target of BD of a HnS being mentioned for the past month is about 5548.

Nifty fell sharply again and closed strongly -ve below 5600, thereby hinting at further bearishness. However, +ve div still persists on daily chart. Friday being the last day of the week, last chance for a reversal, however temporary, is a close above 5590 and preferably above 5623. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         09:30 strategy may be noted as "Sell above 5569 TARGET 5544, SL 5599".

3.         PCR down at 0.88 and VIX up at 15.85. Market likely to close positive if volatility does not cross and remain above 16.

4.         Nifty opened down with a slight gap and made a lower high and low than yesterday before closing -ve and also below yesterday's close. The target of bearish flag and BD of HnS of the first post were met. The daily candle is a likely morning star.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-04/04/13

LEADER POST for Thursday (04/04/13)

1.         Supports are at about 5649 and 5611 while 200sma is at about 5636 and previous low to watch is 5604. Resistances are at about 5690, 5698, 5706, 5723, 5735 and 5781. Six likely +WWs give about 5725 (once above 5697), 5741/57 (once above 5711), 5780 (once above 5632), 5808 (once above 5700) and 5810 (once above 5666) (other +WWs with higher targets are not mentioned as of now). A likely -WW gives about 5646 (-WWs with much lower targets are not mentioned presently). Three falling wedges seem to have broken out and can give about 5770/5853/5945. A bearish flag gives lower level unless killed above 5704.

Nifty fell sharply again and closed strongly -ve below 5700, thereby hinting at further bearishness. However, +ve div still persists on daily chart (and on 60tf). As long as nifty doesn't close below 5680, I feel nifty will go up in short term. Only global cues and/or liquidity (including from DIIs) can save nifty.

2.         PCR down at 0.96 and VIX up at 14.87. Pre-open suggests a +ve nifty after a gap down open unless it remains below 5640 till afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5659NF, TARGET 5615, SL 5689.

4.         Target of -ww met.

5.         Target of 9.30 strategy met.

6.         Nifty opened down with a gap and once again remained in a range of about 35 points till afternoon before falling sharply. It thus made a lower high and low than those yesterday before closing strongly -ve and also below yesterday's close. The target of -ww of the first post as well as that of 9.30 strategy trade was met.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-03/04/13

LEADER POST for Wednesday (03/04/13)

1.         Supports are at about 5734, 5724, 5710 and 5648 while resistances are at about 5758, 5775 and 5862. Previous higher levels to watch are 5758 and 5864. Three likely +WWs give about 5776, 5807 and 5825 (other +WWs with higher targets are not mentioned as of now). Five likely -WWs can give about 5730, 5674 (once below 5736), 5677 (once below 5722), 5662 (once below 5739) and 5658 (once below 5723) (-WWs with much lower targets are not mentioned presently). Three falling wedges seem to have broken out and can give about 5770/5853/5945. Two bullish flags gives higher level unless killed below 5706/5640.

Nifty rose again and closed +ve though just below 5750, thereby defeating the bearishness of Monday's likely morning doji star candle. As long as nifty doesn't close below 5660/30, I feel nifty will go up in short term. However, any sustained upmove is possible only if nifty keeps taking out previous highs. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.03 and VIX down at 14.10. Pre-open data suggests a +ve nifty after a slight gap down open unless it remains below 5740 till afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5727NF, TARGET 5703, SL 5757.

4.         If SL is hit, buy below 5764NF, target 5789, SL 5734.

5.         Target of first -ww met.

6.         SL hit.

7.         Today is the day when SL on both sides may be hit.

8.         SL on reverse side hit.

9.         Target of original trade met.

10.       Targets of all the five -WWs of the first post were met.

11.       Nifty opened flat and remained in a narrow range of about 28 points for almost five hours before falling sharply to make a lower high and low than those yesterday and closing strongly -ve and also below yesterday's close. The targets of all the five -WWs of the first post were met. But SLs on both sides of 9.30 strategy trades were hit before target of original trade was met.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-02/04/13

LEADER POST for Tuesday (02/04/13)

1.         Supports are at about 5692, 5673 and 5660 while resistances are at about 5720 and 5869. Previous higher levels to watch are 5758 and 5864. Five likely +WWs give about 5731, 5741, 5775, 5800 and 5820 (other +WWs with higher targets are not mentioned as of now). Four likely -WWs can give about 5672 (once below 5730, which is yet to be reached), 5669 (once below 5722, which is yet to be reached), 5618 (once below 5658) and 5604 (once below 5663) (-WWs with much lower targets are not mentioned presently). Two falling wedges seem to have broken out and can give about 5770/5853/5945. A bullish flag gives higher level unless killed below 5640.

Nifty rose and managed to close above 5700. There is a +ve div on daily chart. However, daily candle is a likely morning Doji star, a likely bearish sign. Therefore, to nullify it, nifty must close +ve and also above Monday's close, preferably after a gap up open. As long as nifty doesn't close below 5615, I feel nifty will go up in short term. However, any upmove is possible only if nifty takes out previous highs. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR slightly down at 0.97 and VIX down at 14.85. Pre-open data suggests a +ve nifty after a flattish open unless it remains below 5700 till afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5725NF, TARGET 5754, SL 5695.

4.         9.30 strategy target met.

5.         Targets of first two +WWs were met.

6.         Nifty opened flat and remained in a narrow range of about 23 points for almost three hours before making a sharp upmove. It thus made a higher high and low than those yesterday before closing +ve (as indicated by the pre-open data) and also above yesterday's close. The targets of first two +WWs of the first post were met as also the target of 9.30 strategy trade.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-01/04/13

LEADER POST for Monday (01/04/13)

1.         Supports are at about 5670, 5635, and 5595 while resistances are at about 5715 and 5878. Previous higher levels to watch are 5719, 5758 and 5864. Five likely +WWs give about 5726/30, 5745, 5771 and 5816 (other +WWs with higher targets are not mentioned as of now). A -ww can give about 5616 (once below 5645) (-WWs with much lower targets are not mentioned presently). Two falling wedges seem to have broken out and can give about 5770/5853/5945 unless nifty goes below 5603. A bullish flag gives higher level unless killed below 5640.

Nifty rose sharply but yet closed below 5700. There is a +ve div on daily chart. Also, daily candle is an imperfect hammer, weekly candle is a hammer, monthly candle is an inverted hammer and yearly candle is like a Doji. All these indicate a likely continuation of bullish trend in short term. As long as nifty doesn't close below 5615, I feel nifty will go up in short term. However, any upmove is possible only if nifty takes out 5719. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR at 0.98 and VIX at 15.22. Pre-open data suggests a +ve nifty after a small gap up open.

3.         First 5f candle is a doji hence expect intraday volatility.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5737NF, TARGET 5759, SL 5707.

5.         If SL is hit, sell above 5697NF, target 5673, SL 5727.

6.         SL hit.

7.         SL of reverse trade hit. Now long again.

8.         Nifty opened up with a small gap and made a higher high and low than those on Thursday before closing +ve (as indicated by the pre-open data) and also above Thursday's close. The SLs on either side trades of 9.30 strategy were hit but none of the targets were met. The total range was about 45 points. The daily candle is a likely morning doji star.

The intraday chart of nifty spot values with 5 min candles is shown below.