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.
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