Daily_Nifty_VP's View-24/07/12

Unfortunately, I missed post for Monday (23/07/12) and my apologies for that.
LEADER POST for Tuesday (24/07/12)

1.         Supports are at 5106/05/03 and 5099/98 while about 5095 was previous low on 26/6/12. Resistances are at 5122, 5167, 5183 and 5223. Three likely +WWs give about 5135, 5153 (once above 5121), and 5161 (once above 5135). I feel today's trend would be a flat to +ve.

2.         PCR at 1.03 and VIX up at 18.66. Pre-open high/low at 5152.80/5089.70 and close at 5128.80. The last time we had such a pre-open, nifty was flat to -ve. However, I feel there is a chance of a +ve move today.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5113NF, TARGET 5150/5172, SL 5083 (TIGHT BUT DICEY SL 5110).

4.         First +ww target was met in opening only.

5.         As stated in the first post and later after pre-open, nifty closed +ve and also above yesterday's close even though it made a lower high and low than yesterday. The first +ww target was met as also the target of 9.30 strategy. It was, otherwise, a lacklustre day with a 45 point range, possibly due to expiry being 2 days away. Market is waiting for a stimulus by way some +ve news from Govt, which is overdue.

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