1. Supports are at about 5935,
5927 and 5906 while resistances are at about 5971, 5991 and 6066. Two likely
+WWs give about 6057 (once above 5950) and 6070 (once above 5958) and 6044
(once above 5958) (+WWs with higher targets are not mentioned as of now). (-WWs
with much lower targets are not mentioned presently). Nifty seemed to have
broken out of a horizontal channel and can give 6090 if it sustains. But it
broke below 5965 for the fourth time and closed below it for the first time,
which is not good for bulls. It may, therefore, go down to the bottom of
channel, which is at about 5840 unless it reverses again. Also, it seems to
have already broken down from a rising channel and can give about 5840 too. At
the same time, a falling chanel can give 6055 if it breaks out above about
5990.
Nifty barely managed to close above 5950
after breaching 5965 once again. Unless it goes above 6070, it is not bullish.
If it closes below about 5950 on Monday, it may go down further. The overall
outlook has turned -ve since there is a -ve div on weekly chart now. In days to
come, it should make higher highs and lows before making and remaining above a
new high to kill the -ve div and give a bullish signal. It seems to be
consolidating between 5945-6045 and we can see high volatility.
2. PCR is at
1.04 and VIX is at 13.23. Pre-open high/low at
6025.20/5912.45 and close at 5967.20. This may indicate an uncertain nifty. +ve
above 5967 and -ve below 5951.
3. AS PER
9.30 STRATEGY, BUY BELOW 6007NF, TARGET 6033/50, SL 5977.
4. 9.30
strategy target met.
5. Nifty
opened up with a small gap and did not look back. It made a higher high and low
than those on Friday before closing +ve and also above Friday's low. However,
nifty fut made a new high also. The target of 9.30 strategy trade was met.
The intraday chart of nifty spot values with 5 min candles is shown below.
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