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.
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