1. Supports are at about 5960,
5942 and 5906 while resistances are at about 5979, 6003, 6062 and 6097. Three
likely +WWs give about 5986 (once above 5960), 6030 (once above 5954) and 6044
(once above 5958) (+WWs with higher targets are not mentioned as of now). Two
likely -WWs give about 5952 and 5927 (other -WWs with lower targets are not
mentioned presently). Nifty seemed to have broken out of a channel and can give
6090 if it sustains. But it broke 5965 thrice in succession, each time making a
new low and also closing at a new low, which is not good for bulls. It may,
therefore, go down to the bottom of channel, which is placed at about 5840
unless it reverses for good.
Nifty closed below 5977 again after
breaching 5965 once again. Unless it goes above 6070, it is not bullish. If it
closes below about 5970 on Friday (weekly close), it may go down further. In
days to come, it should make higher highs and lows before making and remaining
above a new high to give bullish signal. It seems to be consolidating between
5945-6045 and we can see high volatility.
2. Nifty is
in a DT. A BD may take it down to 5955.
3. Target of
first +ww met in the open itself.
4. Gap
filled up.
5. A bearish
flag can give <5950.
6. DT
breakdown target met. Target of first -ww also met.
7. 9.30
strategy target met.
8. Target of
bearish flag met.
9. For the
third time in a row, nifty opened up with a gap and quickly reacted, making a
higher high and a lower low than those yesterday before closing -ve and also
below yesterday's close. The targets of first +ww and first -ww of the first
post were met as also the target of 9.30 strategy trade. In addition, targets
of a DT break down and a bearish flag identified during the day were met.
The intraday chart of nifty spot values with 5 min candles is shown below.
It doesn’t contain first 5 min due to website problems.
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