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.
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