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.
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