Daily_Nifty_VP's View-30/11/12

LEADER POST for Friday (30/11/12)

1.         Supports are at about 5795, 5690 and 5660 while resistance is at about 5850. (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5780 (once below 5810), 5765 and 5740 (other -WWs with lower targets are not mentioned presently). A bullish flag gives much higher level unless killed below 5625.

Nifty closed above 5800 and the daily candle is also a Marubuzo, indicating a strong bullish sentiment. However, -ve div is seen on both daily and weekly charts. If nifty goes below 5757, it will be worrisome while a close below 5690 may be bad. I feel it may react a bit to consolidate and will be ideal for a "buy on dips" situation. Much higher targets are expected. Tomorrow's candle is important as it will be a daily, weekly and monthly candle.

2.         AS PER 9.30 STRATEGY, BUY BELOW 5908NF, TARGET 5935, SL 5878.

3.         SL hit. Sell above 5878NF target 5847/39 SL 5908. But wait to see whether 5tf closes below 5878. It did not in this candle.

4.         SL hit.

5.         SL (of reverse trade) hit again.

6.         Nifty opened up with a gap and went down a bit but failed to fill the gap and then took off to make a higher high and low than that yesterday to close +ve and also above yesterday's low. The SL of 9.30 strategy trade was hit as also the SL of reverse trade. However, neither side target was met. The daily candle is once again a Marubuzo thereby forming three white soldiers. However, the nifty fut candle is NOT a Marubuzo thereby indicating a possible Advance Block pattern, which indicates a likely reversal.

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

 

Daily_Nifty_VP's View-29/11/12

LEADER POST for Thursday (29/11/12)

1.         Supports are at about 5709/06, 5663 and 5630 while resistances are at about 5731/35, and 5745/50. A likely +WW gives about 5776 (+WWs with higher targets are not mentioned as of now) while two likely -WWs give about 5696 (once below 5716) and 5610 (once below 5755, which is not reached yet) (other -WWs with lower targets are not mentioned presently). The break out of a falling channel mentioned some days ago seems to be giving its target of 5751/5776. A bullish flag gives much higher level unless killed below 5655.

Nifty closed above 5700 and the daily candle is also a Marubuzo, indicating a strong bullish sentiment. But it also faced resistance below 5740 and closed below 5730. A close below 5650 once again and particularly below 5600 may take it down further to as low as 5400. Nifty now needs to close above 5788 and also cross 5815 to continue its bullish trend.

2.         PCR up at 1.17 which is not good for bulls but VIX down at 13.96.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5739NF, TARGET 5778/5813, SL 5709.

4.         Target (5776) of falling channel BO, +ww and bullish flag met.

5.         First 9.30 strategy target met without giving an entry.

6.         Nifty opened up with a gap and never looked back. It bulldozed past all resistance to make a new 19 month high and also close at a new 19 month high. In the process, targets of the +ww, falling channel, bullish flag and the 9.30 strategy trade were met. The daily candle is once again a Marubuzo.

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

 

Daily_Nifty_VP's View-27/11/12

LEADER POST for Tuesday (27/11/12)

1.         Supports are at about 5631, 5626, 5614 and 5609 while resistances are at about 5634, 5643 and 5658. Three likely +WWs give about 5656, 5669 and 5684 (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5616 (once below 5653, which is not reached yet), 5605 and 5585 (once below 5659) (other -WWs with lower targets are not mentioned presently). A bullish flag gives higher level unless killed below 5613.

Nifty closed above 5630 once again. What's more, it made a higher high and low than those on Friday. But, the daily candle is an imperfect hanging man, which is a bearish sign and hence trade carefully, particularly because this is an expiry week. A close below 5600 once again and particularly below 5550 may take it down further to as low as 5400. Nifty now needs to close above 5667 to maintain a bullish tone.

2.         Pre-open high/low at 5659.85/5617.45 and close at 5658.50. This may indicate a +ve nifty after a gap up open.

3.         Note that 5657.65NF was last week's high. A open above that will please the bulls.

4.         Target of first two +WWs and bullish flag met.

5.         AS PER 9.30 STRATEGY, BUY BELOW 5654NF, TARGET 5700/19 SL 5624.

6.         Target of third +ww also met.

7.         Target of 9.30 strategy met without giving an entry.

8.         Nifty opened up with a gap and never looked back. It not only made a new high but also closed strongly at a recent new high. It thus closed +ve as indicated by the pre-open data and also above yesterday's close. In the process, the targets of all the three +WWs and the bullish flag of the first post were met. Also met was target of 9.30 strategy trade but without giving an entry.

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

 

Daily_Nifty_VP's View-26/11/12

LEADER POST for Monday (26/11/12)

1.         Supports are at about 5600, 5588, 5577 and 5533 while resistances are at about 5630 and 5653. Four likely +WWs give about 5641, 5666, 5676 and 5684 (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5599 (once below 5611), 5597 (once below 5653, which is not reached yet) and 5552 (once below 5617) (other -WWs with lower targets are not mentioned presently). A bullish flag gives higher evel unless killed below 5608.

Nifty closed above 5600 once again but below 5630. What's more, it made a lower high and low than those on Thursday. Also, the daily candle is a hanging man, which is a bearish sign and hence trade carefully. A close below 5600 once again and particularly below 5550 may take it down further to as low as 5400. Nifty now needs to close above 5660 to maintain a bullish tone.

2.         PCR at 1.03 and VIX at 14.68. Pre-open high/low at 5728.20/5626.60 and close at 5648.65. The 10tf candle is an inverted hammer and may indicate flat/-ve nifty after a gap up open.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5632NF TARGET 5608 SL 5662.

4.         Target of first +ww and bullish flag met at open.

5.         Today's gap filled.

6.         Nifty opened up with a small gap and made a higher high and low than those on Friday but closed -ve as, indicated by the pre-open data, though above Friday's close. Nifty filled up the gap created today. However, nifty fut did not make a higher high. The targets of first +ww and the bullish flag of the first post were met but the target 9.30 strategy trade was not met nor was its SL triggered. The total range was narrow at about 25 being an expiry week.

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

 

Daily_Nifty_VP's View-23/11/12

LEADER POST for Friday (23/11/12)

1.         Supports are at about 5619 and 5547 while resistances are at about 5634, 5645 and 5693. Two likely +WWs give about 5646 and 5662 (+WWs with higher targets are not mentioned as of now). Four likely -WWs give about 5620, 5613, 5595 and 5564 (other -WWs with lower targets are not mentioned presently). A falling channel mentioned a few days ago seems to have broken out and can give about 5750/75 unless nifty goes below 5534 again.

Nifty closed above 5600 once again. What's more, it just crossed 5643 before closing below 5630. Thus it is placed at a crucial break out stage though still in the resistance zone below 5643 and a daily and weekly close above 5660 can only be bullish for next week. However, a close below 5600 once again and particularly below 5550 may take it down further to as low as 5400.

2.         PCR at 1.06 and VIX at 14.91. Pre-open high/low at 5643.30/5615.45 and close at 5635.45. This may indicate mildly +ve market after a slight gap up opening.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5634NF TARGET 5604/5585 SL 5664.

4.         Target of first -ww met.

5.         Second -ww target met.

6.         Target of third -ww met.

7.         Nifty opened up with a small gap but quickly reacted to make a lower high and low than those yesterday before closing -ve and just below yesterday's close. The total range was about 40. The targets of first three -WWs and that of 9.30 strategy trade were met. The 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-22/11/12

LEADER POST for Thursday (22/11/12)

1.         Supports are at about 5596, 5577 and 5548 while resistances are at about 5627 and 5652. Two likely +WWs give about 5660 and 5751 (once above 5650) (+WWs with higher targets are not mentioned as of now). Four likely -WWs give about 5599, 5586 (once below 5599), 5571 (once below 5596) and 5550 (once below 5600) (other -WWs with lower targets are not mentioned presently). A falling channel mentioned yesterday seems to have broken out and can give about 5750/75 unless nifty goes below 5557 again.

Nifty finally closed above 5600 again after some down day but is not out of the woods yet. Nifty should take out the resistance zone of 5633-5643 first, above which it could be bullish. However, a daily close below 5520 may take it down further to as low as 5400.

2.         PCR at 1.03 and VIX at 15.46. Pre-open high/low at 5648.05/5614.45 and close at 5628.60. It may indicate an uncertain nifty after a gap up opening.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5646NF TARGET 5669/90 SL 5616.

4.         A +ww gives 5630.

5.         SL of 9.30 strategy is hit. Now sell above 5611NF target 5584 SL 5641.

6.         +ww target mentioned above met.

7.         Nifty opened up with a small gap and made a higher high and low than those yesterday. But it remained within a 35 point range, finally closing flat. The SL of 9.30 strategy trade was hit but target of reverse trade was not met. The target of a +ww identified during the day was met. The daily candle is an imperfect evening doji star. However, the same is not true with nifty fut candle.

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

 

Daily_Nifty_VP's View-21/11/12

LEADER POST for Wednesday (21/11/12)

1.         Supports are at about 5558, 5548/44, 5533/29, 5514 and 5500 while resistances are at about 5578, 5591, 5617 and 5635. A number of likely +WWs give about 5579, 5615, 5655/58 and 5715 (+WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5564 and 5516 (-WWs with much lower levels are not mentioned presently). A falling channel can give about 5750/75 in case of a BO above 5588. A bullish flag can give higher level unless killed below 5559.

Nifty closed below 5600 once again and the overall mood seems to be very bearish. However, it seems to have made a double bottom with yesterday's low. Also, Tuesday's candle is an "outside" bar and, if Tuesday's lower low was fake then with oversold Stochastic, it can give a reversal. In such a case, nifty should take out the resistance zone of 5633-5643 first. However, a daily close below 5520 may take it down further to as low as 5400.

2.         PCR at 0.98 and VIX at 15.81. Pre-open high/low at 5582.55/5570.90 and close at 5582.50. 10tf candle is the smallest so far but it's a Morubuzo and may indicate a +ve nifty after a small gap up open.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5579NF, TARGET 5548/28 SL 5609.

4.         Target of first +ww and -ww met.

5.         Target of bullish flag of the first post met.

6.         Forgot to mention that SL of 9.30 strategy was hit after 10.20 and target of reverse trade is 5632NF.

7.         Nifty opened up with a small gap, went down a bit before rising. It made a higher high and low than those yesterday before closing +ve, as was indicated by pre-open data, and also above yesterday's close. In the process the targets of first two +WWs, first -WW and the bullish flag of the first post were met. However, the SL of 9.30 strategy trade was hit but the target of the reverse trade was not met.

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

 

Daily_Nifty_VP's View-20/11/12

LEADER POST for Tuesday (20/11/12)

1.         Supports are at about 5544, 5538, 5526, 5516 and 5501 while resistances are at about 5574, 5610, 5639 and 5656. Four likely +WWs give about 5594, 5600, 5636 and 5655 (+WWs with higher targets are not mentioned as of now). (-WWs with much lower levels are not mentioned presently). A falling channel can give 5750 in case of a BO above 5616. A bearish flag can give much lower level unless killed above 5615.

Nifty closed below 5600 once again and the overall mood seems to be very bearish. However, the rate of fall is reduced a great deal. Nifty can reverse soon if 5520 is respected since short term trend is still bullish. To give sign of a possible reversal, nifty should take out the resistance zone of 5633-5643. A daily close below 5520 may take it down further to as low as 5400.

2.         PCR at 0.96 and VIX at 16.68.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5594NF, TARGET 5569/54 SL 5624.

4.         Targets of first two +WWs met in the open itself.

5.         Target of 9.30 strategy met.

6.         Nifty opened up with a gap, made a higher high than yesterday but then reacted to make a lower low before recovering a bit. However, it closed -ve but same as yesterday's close. In the process, the targets of first wo +WWs of the first post were met as also the target of 9.30 strategy trade. It seems to have made a double bottom with yesterday. The daily candle is an "outside bar".

The intraday chart of nifty spot values with 5 min candles is shown below. The initial portion till 10 am is not visible due to web problem.

 

Daily_Nifty_VP's View-19/11/12

LEADER POST for Monday (19/11/12)

1.         Supports are at about 5558, 5544 and 5516 while Resistances are at about 5640 and 5659. Four likely +WWs give about 5652 (once above 5599), 5711 (once above 5616), 5729 (once above 5656) and 5762 (once above 5652) (+WWs with higher targets are not mentioned as of now). (-WWs with much lower levels are not mentioned presently). A falling channel can give 5750 in case of a BO above 5669.

Nifty closed below 5600 and the overall mood seems to be very bearish. But, nifty can reverse soon if 5520 is respected since short term trend is still bullish. To give sign of a possible reversal, nifty should first take out the resistance zone of 5633-5643 and then close well above 5667. A daily close below 5520 may take it down further to as low as 5400.

2.         PCR down at 0.98 while VIX up at 16.22. Pre-open high/low at 5577.30/5477.05 and close at 5577.30. The 10tf candle is a long legged hammer and may indicate a +ve nifty after a flattish open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5601NF, TARGET 5630 SL 5571.

4.         IF SL HIT, SELL ABOVE 5577, TARGET 5546 SL 5607.

5.         Nifty opened flattish, made an attempt to go up but couldn't and made a lower low than that on Friday. However, it recovered late in the day to close slightly -ve and also below Friday's close. However, nifty future closed slightly +ve and also above Friday's close. The SL of 9.30 strategy trade was hit but the target of reverse trade was not met. The total range was about 43. The daily candle is a Doji.

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

 

Daily_Nifty_VP's View-16/11/12

LEADER POST for Friday (16/11/12)

1.         Supports are at about 5626, 5604, 5586 and 5580 while Resistances are at about 5644, 5682 and 5690. Three likely +WWs give about 5719, 5726 and 5736 (+WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5622 and 5605 (-WWs with much lower levels are not mentioned presently).

Nifty managed to close above 5630 but below 34 ema and the overall mood seems to be bearish. The daily candle is a hammer, which is a possible sign of reversal. To give sign of a possible reversal, nifty should preferably open gap up on Friday i.e. above 5651, thereby taking out resistance zone of 5633-5643, and also close well above 5667. A daily close below 5630 and then 5580 may take it down further.

2.         PCR down at 1.01 and VIX up at 15.53. Pre-open high/low at 5689.85/5582.40 and close at 5624.80. The 10tf candle is a doji and may indicate an uncertain market after a slight gap down open.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5630NF, TARGET 5605 SL 5660.

4.         IF SL IS HIT, BUY BELOW 5665NF, TARGET 5690 SL 5630.

5.         Target of first -ww met.

6.         SL of 9.30 strategy trade hit.

7.         A bearish flag gives 5693 unless killed above 5638.

8.         Target of second -ww met. Target of bearish flag met.

9.         Target of 9.30 strategy trade met.

10.       Nifty opened down with a small gap, remained flat within a range of about 25 till afternoon before suddenly tanking. The targets of both the -WWs of the first post were met. Also met was target of a bearish flag identified in the afternoon. Nifty made a lower high and low than those yesterday (but nifty fut made a higher high) before finally closing -ve and also below yesterday's close. In view of different behaviour of nifty fut, SL of 9.30 strategy trade was first hit and then SL of reverse trade was also hit and then target of the original trade was met.

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

 

Daily_Nifty_VP's View-15/11/12

LEADER POST for Thursday (15/11/12)

1.         Supports are at about 5663, 5657 and 5652 while Resistances are at about 5704, 5710 and 5735. Four likely +WWs give about 5712, 5716, 5745 and 5814 (+WWs with higher targets are not mentioned as of now) while a likely -WW gives about 5650 (-WWs with much lower levels are not mentioned presently). A bearish flag gives lower levels unless killed above about 5693.

Nifty closed below 5680 but may be ignored as it was a very short term trade. Nifty can find support at 34 ema intraday which is placed at about 5650 in case it goes down. Crossing above 5816 and daily close above 5788 is necessary for hope of a clear break out. A daily close below 5630 may take it down further. This being a truncated week, trade carefully as global cues can result in gap up/down opening after holidays.

2.         PCR 1.07 and VIX 14.91. Looking at pre-open O/H/L/C, which is not accurate, it gives an impression that we may see a flat to mildly -ve nifty after a small gap down open.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5639NF, TARGET 5612/5599, SL 5669.

4.         Target of -ww and the bearish flag of the first post met.

5.         A +ww and a bullish flag both give 5630.

6.         +ww and flag target met.

7.         Nifty opened down with a gap and continued to go down, making a lower high and a lower low than those on Tuesday before recovering a bit to close -ve (as was indicated by pre-open data) and also below Tuesday's close. The targets of -ww and the bearish flag of the first post were met but the target of 9.30 strategy trade was not met.

The intraday chart of nifty spot values with 5 min candles is shown below. The initial portion is missing due to problem with the website.

 

Daily_Nifty_VP's View-12/11/12

LEADER POST for Monday (12/11/12)

1.         Supports are at about 5672 and 5615 while Resistances are at about 5711, 5733, 5748 and 5768. Five likely +WWs give about 5731, 5771, 5783, 5804 and 5814 (once above 5743) (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5675, 5662 and 5657 (-WWs with much lower levels are not mentioned presently). A bearish flag gives lower levels unless killed above about 5720.

Nifty reacted once again creating doubts about its future trend. The only consolation is that the day and the week closed above 5680, which gives hopes that an upmove is not ruled out. Nifty can find support at 34 ema intraday which is placed at about 5645 if it goes down. The weekly candle is an inverted hammer. Crossing above 5816 and daily close above 5788 is necessary for hope of a clear break out. A daily close below 5680 may take it down further.

2.         Pre-open high/low at 5749.50/5660.65 and close at 5688.45. The 10tf candle is a doji and may indicate an uncertain nifty after a flat open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5734NF, TARGET 5760/71 SL 5704.

4.         SL triggered but 5tf has not closed below 5704 yet though it may in which case, Sell above 5703NF, target 5674 SL 5733.

5.         Twice it crossed 5704 but 5tf did not close and it went up. If you didn't cover your longs, hold them.

6.         Target of first -ww of the first post met.

7.         (post by LLK) SL triggered & ......

8.         Nifty opened flat, failed to go up and reacted to close flat but below Friday's close. The target of first -ww of the first post was met. However, the SL of 9.30 strategy was triggered but the target of reverse trade was not met. Nifty once again closed above 5680 and the daily candle is an imperfect morning doji star.

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

 

Daily_Nifty_VP's View-09/11/12

LEADER POST for Friday (09/11/12)

1.         Supports are at about 5730, 5724 and 5717 while Resistances are at about 5741, 5745, 5761 and 5811. Two likely +WWs give about 5790 (once above 5746) and 5798 (+WWs with higher targets are not mentioned as of now). Five likely -WWs give about 5721, 5703 and 5679/71/69 (-WWs with much lower levels are not mentioned presently).

Nifty once again closed above 5730 in spite of opening down with a big gap. This shows that bulls may still be in control. Nifty did react as posted yesterday. The next few days' move will now show what is in store in short term. Crossing above 5816 and daily close above 5788 is necessary for a clear break out. A daily close below 5680 will take it down further.

2.         Targets of first two -WWs met.

3.         Target of third -ww met.

4.         Nifty opened down with a small gap and quickly made a higher high than yesterday. But soon it reacted to make a lower low to close -ve and also below yesterday's close. In the process, targets of three -WWs mentioned in the first post were met. The only consolation is that the day and the week closed above 5680.

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

 

Daily_Nifty_VP's View-08/11/12

LEADER POST for Thursday (08/11/12)

1.         The supports are at about 5740, 5731 and 5717 while the resistances are at about 5773, 5788 and 5800. (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5728, 5696 (once below 5749) and 5682 (once below 5736) (-WWs with much lower levels are not mentioned presently). A bullish flag can give much higher level unless killed below 5734 while a bearish flag can give lower level unless killed above 5766.

Nifty finally closed above 5730. The nifty clearly looks bullish in near term. However, a reaction seems likely before the next upmove, having gone up about 190 points from the previous low.

2.         PCR at 1.11 and VIX at 14.51. It will be interesting to see these EOD today. Pre-open high/low at 5850.70/5709 and close at 5709. This may indicate a +ve nifty after a gap down open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5759NF, TARGET 5788/5803 SL 5729.

4.         The targets of first -ww and the bearish flag met in open itself.

5.         If low was about 5694 then target of second -ww also met.

6.         Nifty opened down with a big gap based on global cues but that was the end of it. It did not go up much but managed to close +ve as indicated by the pre-open data but below yesterday's close. In the process, targets of the first two -WWs and the bearish flag mentioned in the first post were met. However, the total range being small, the target of 9.30 strategy trade was not met.

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

 

Daily_Nifty_VP's View-07/11/12

LEADER POST for Wednesday (07/11/12)

1.         The supports are at about 5705/01, 5675 and 5634 while the resistances are at about 5734 and 5744. Two likely +WWs give about 5761/67 (+WWs with higher targets are not mentioned as of now) while three likely -WWs give about 5686/76 (once below 5725) and 5669 (once below 5702) (-WWs with much lower levels are not mentioned presently). A bullish flag can give higher level unless killed below 5706.

Nifty managed to reach 5730 with a sharp rise and it appears that it could be just a loser’s consolation that it did not cross or close above 5730. Nifty futures also closed above an important number of 5757 as per one number theory. The nifty is now clearly bullish in immediate term and only a -ve and surprise result from US presidential election can reverse the trend.

2.         The 9.30 strategy gave a down trend but got reversed after 9.40.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5770NF, TARGET 5803/06 SL 5740.

4.         Target of first +ww met.

5.         First target of 9.30 strategy met.

6.         Target of second +ww met.

7.         Nifty opened down with a small gap but soon started climbing as news about Obama's victory came in. It made a new high and closed +ve and also above yesterday's close. The 9.30 strategy trade saw its SL hit soon after 9.30 but the target of reverse trade was met. Also met were targets of both the +WWs and the bullish flag mentioned in the first post.

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

 

Daily_Nifty_VP's View-06/11/12

LEADER POST for Tuesday (06/11/12)

1.         The supports are at about 5688, 5675 and 5553 while the resistances are at about 5707 and 5745. A likely +WW gives about 5730 (+WWs with higher targets are not mentioned as of now) while two likely -WWs give about 5687 and 5673 (-WWs with much lower levels are not mentioned presently). A bullish flag can give higher level unless killed below 5693.

Nifty managed to hold 5680 on Monday and also close +ve. The daily candle is an imperfect hanging man, which can be bearish. While it is possible that nifty may revisit 5432, which is the gap created on 13/14 Sept, it may have a few surprises up its sleeve and hence one must trade with proper SLs. Nifty now needs to close above 5730 to give hopes of continuation of an uptrend. A daily close below 5680 and then 5630 will take nifty down further.

2.         PCR up at 1.11 and VIX up at 14.63. Pre-open high/low at 5735/5683.05 and close at 5694.10. This may indicate a -ve nifty after a slight gap down open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5740NF, TARGET 5771/91 SL 5710.

4.         A -ww has now developed which gives 5697 once below 5717.

5.         Target of -ww identified earlier met.

6.         Targets of +ww and the bullish flag of the first post as well as that of 9.30 strategy met.

7.         Nifty opened down with a small gap but went up thereafter. It did react again but could not make a new low and then rose sharply again to make a higher high, finally closing +ve and also above yesterday's close. In the process, targets of +ww and the bullish flag mentioned in the first post as well as that of 9.30 strategy trade were met.

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

 

Daily_Nifty_VP's View-05/11/12

LEADER POST for Monday (05/11/12)

1.         The supports are at about 5684, 5649 and 5568 while the resistances are at about 5702, 5706, 5714 and 5720. Two likely +WWs give about 5751 and 5780 (+WWs with higher targets are not mentioned as of now) while a number of likely -WWs give about 5690/86/84, 5678 and 5634 (-WWs with much lower levels are not mentioned presently). An apparent rising channel seems to have broken down and can about 5600 unless nifty goes above 5800.

Nifty managed to close above 5680 both on daily and weekly basis and thereby gave a bullish undertone. However, daily candle is an Evening Doji Star which is a bearish sign and nifty may go down further if it opens gap down on Monday and also closes well below 5645. In such a case supports of 34 ema and 55 ema/50 sma are at about 5621/5557 and they may hold. Weekly candle is a hammer, which is a bullish sign.

While it is possible that nifty may revisit 5432, which is the gap created on 13/14 Sept, it may have a few surprises up its sleeve and hence one must trade with proper SLs. Nifty now needs to close above 5730 to give hopes of continuation of an uptrend. I feel that next week may be very volatile as bears try to seize control from the bulls. In other words both the evening doji star and the hammer will succeed in that order.

2.         PCR up at 1.09 and VIX down at 13.66. Pre-open high/low at 5945.85/5693.05 and close at 5693.05. The 10tf candle is huge inverted hammer and may indicate a -ve nifty after a flat to slight gap down open.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5766NF, TARGET 5716 SL 5796.

4.         Target of first -ww met. Target of 9.30 strategy met without giving entry, thanks to weird O/H values.

5.         Targets of first 3 -WWs met.

6.         Nifty opened 4 points down, remained flat for a while and then reacted. It made a lower high and low than those on Friday before closing slightly +ve and also slightly above Friday's close. On the other hand, nifty fut opened 20 points up, made a higher high and low than those on Friday and closed -ve but flat as compared to Friday's close. In the process, the targets of first three -WWs of the first post were met as also the target of 9.30 strategy trade. The daily candle is an imperfect hanging man, which can be bearish in immediate term.

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

 

Daily_Nifty_VP's View-02/11/12

LEADER POST for Friday (02/11/12)

1.         The supports are at about 5622, 5574, 5569, 5561, 5546 and 5521 while the resistances are at about 5656, 5664, 5679 and 5712. Two likely +WWs give about 5717 and 5741 (+WWs with higher targets are not mentioned as of now) while three likely -WWs give about 5624, 5594 and 5527 (-WWs with much lower levels are not mentioned presently). A likely rising wedge can give about 5600 in case of a BD.

Nifty once again closed above 34 ema but can take support at 55 ema or 50 sma or 89 ema, which are at about 5548/5551/5462, if it goes down. While it is possible that it may revisit 5432, which is the gap created on 13/14 Sept, it may have a few surprises up its sleeve and hence one must trade with proper SLs. To begin with, nifty now needs to close above 5680 to give hopes of an uptrend.

2.         PCR up at 1.06 VIX at 14.08. Pre-open high/low at 5700.35/5624.05 and close at 5696.35. This may indicate a +ve nifty after a gap up open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5722NF TARGET 5753/63 SL 5692.

4.         Those who bought on 9.30 strategy, raise SL to 5724 NF and book a bit short of target to be safe.

5.         SL for 9.30 strategy should be 5725NF now.

6.         Raise SL to 5736NF.

7.         Nifty opened gap up, made a higher high and low than those yesterday (and also a new weekly high) but closed flat though above yesterday's close. In spite of that, neither the target of any +ww was met nor that of 9.30 strategy trade since the total range was only about 28 points (about 48 points for nifty fut). The daily candle is an Evening Doji Star (though nifty fut candle is only an Evening Star).

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

 

Daily_Nifty_VP's View-01/11/12

LEADER POST for Thursday (01/11/12)

1.         The supports are at about 5580, 5577, 5570 and 5540 while the resistances are at about 5629, 5664 and 5689. Three likely +WWs give about 5660, 5706 and 5731 (+WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5598 and 5544 (-WWs with much lower levels are not mentioned presently). The daily chart shows a mild +ve div in rsi and the indicators are at/near oversold levels.

Nifty has barely managed to close above 34 ema but can take support at 55 ema or 50 sma, which are at about 5545/48, if it goes down. While it is possible that it may revisit 5432, which is the gap created on 13/14 Sept, it may have a few surprises up its sleeve and hence one must trade with proper SLs. To begin with, nifty now needs to close above 5680 to give hopes of an uptrend.

2.         PCR flat at 1.03 and VIX down at 14.40.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5616NF, TARGET 5595 SL 5646. If SL hit BUY below 5659NF, target 5680 SL 5629.

4.         (posted by others) Sell trade’s SL gone.

5.         Target of reverse trade met.

6.         Nifty opened down with a small gap but went up to close +ve and also above yesterday's close. The SL of 9.30 strategy trade was hit and the target of reverse trade was met. Though today's candle is bullish, the total range was about 47 points only.

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