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.
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