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.
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