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.
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