1. Supports are at about 6040, 5961 and
5914 while resistances are at about 6072, 6080 and 6107. Two likely +WWs give
about 6087 and 6111 (other +WWs with higher targets are not mentioned as of
now). Five likely -WWs give about 6047, 6018 (once below 6031), 6016 (once
below 6045), 5976 (once below 6031) and 5953 (once below 6028) (-WWs with much
lower targets are not mentioned presently). Nifty broke out of a horizontal
channel and can give 6090 if it sustains. It is also in two rising channels and
is now likely to go to their top, which are presently at about 6105. It should
not, however, fall and remain below about 6050 and 5985. Otherwise their BD can
give about 5940/5850. A bullish flag can give as much as 6095 unless killed
below 6037.
Nifty rose and managed to close at a new high above 6050, giving strong
bullish signal. However, it is close to a resistance zone around 6100. Hence
some profit booking is expected. Also, daily candle is possibly forming an
evening star, a bearish sign. However, it will confirmed only if nifty
preferably opens down on Wednesday with a gap (preferably below 6037) and also
closes well below 6024 (say about 6000). Be careful of high volatility.
2. PCR 1.09 and VIX 13.58.
10tf candle of pre-open is an inverted hammer and may indicate a -ve nifty
after a slight gap down open.
3. AS PER 9.30 STRATEGY, SELL ABOVE
6050NF, TARGET 6024/11, SL 6080.
4. Target of first -ww met in the first 5
min.
5. Target of second -ww met.
6. Target of third -ww met.
7. Nifty opened down with a slight gap,
made lower high and low than those yesterday before closing -ve and also below
yesterday's close. In the process, the targets of first three -WWs of the first
post as well as that of 9.30 startegy trade were met.
The intraday chart of nifty spot values with 5 min candles is shown below.
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