1. Supports are at about 6002,
5953, 5929 and 5913 while resistances are at about 6038, 6056 and 6100. Three
likely +WWs give about 6046, 6073 and 6082 (other +WWs with higher targets are not
mentioned as of now). Three likely -WWs give about 5991 (once below 6015), 5969
(once below 6014) and 5966 (once below 6002) (other -WWs with much lower
targets are not mentioned presently). Nifty seems to have broken out of a
horizontal channel and a falling channel and can give 6055/6090 if it sustains.
It has also re-entered a rising channel and can give 6100+ if it continues to
go up. It should not, however, go and remain below about 6000. A bullish flag
can higher levels unless killed below 6010.
Nifty rose and managed to close at a new
high. If it goes below about 5925, it may go down further. The overall outlook
had turned -ve since there is a -ve div on weekly chart. In days to come,
therefore, 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 is now near
the top of the range 5945-6045 and we can see high volatility.
2. PCR up at
1.07 and VIX up at 13.70. Pre-open high/low at 6081.45/6024.05
and close at 6037.85. This may indicate a -ve nifty after a small gap up open
unless it remains above 6040 for an hour.
3. AS PER
9.30 STRATEGY, SELL ABOVE 6045NF, TARGET 6013/5993, SL 6075.
4. SL hit.
5. Target of
first +ww and bullish flag met.
6. Falling
channel BO target met.
7. Nifty
opened up with a small gap, remained flat within a range of about 25 till
afternoon before taking off to make a higher high and low than those yesterday
and closing +ve and also above yesterday's close at a new high. In the process
the target of first +ww, bullish flag and BO of falling channel of the first
post were met. Also, the target of second +ww was missed by 5 points. However,
SL of 9.30 strategy trade was triggered but target of reverse trade was not met.
The intraday chart of nifty spot values with 5 min candles is shown below.
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