1. Supports are at about 5901,
5895 and 5866 while resistances are at about 5917, 5947 and 5960. Other levels
to watch are 5940 and 5965. Five likely +WWs give about 5918/22, 5946 and 5987/93
(+WWs with higher targets are not mentioned as of now). Two likely -WWs give
about 5853 and 5850 (once below 5892) (other -WWs with much lower targets are
not mentioned presently). A bullish flag can give about 5953 unless killed
below 5884.
Nifty closed above 5900 thereby confirming
bullish signal of Monday's Harami candle. However, it is not bullish yet and
will become so only after closing above 5965. The short position is very heavy
and if short covering begins, it will go up sharply. Also, it should be noted
that it is yet to break below Oct high of 5815 and that the low of NF in Dec
was 5838, which is same as the high of last expiry day. If nifty closes below
5823, it may become bearish. Nifty may be very choppy, Thursday being the
expiry day. Hence trade with strict SLs.
2. PCR up at
1.12 and VIX down at 14.10. Pre-open high/low at
6011.55/5905.60 and close at 5930.20. This may indicate a -ve nifty after a gap
up opening, unless NS remains above 5930 for at least 15 min and preferably for
one hour.
3. Targets
of first two +WWs met in the opening itself.
4. AS PER
9.30 STRATEGY, SELL ABOVE 5910NF, TARGET 5881/68, SL 5940.
5. Gap
filled up.
6. 9.30
strategy target met.
7. Nifty
opened up with a gap but immediately reacted. It made a higher high and low
than those yesterday before closing -ve and also below yesterday's close. The
targets of first two +WWs were met as also that of 9.30 strategy trade. NS in
this expiry managed to close above the close on last expiry.
The intraday chart of nifty spot values with 5 min candles is shown below.
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