1. Supports are at about 6047,
6037 and 6005 while resistances are at about 6115 and 6142. The previous low
level to watch is 5990. Four likely +WWs give about 6082, 6116, 6130 and 6144 (other
+WWs with higher targets are not mentioned as of now). Two likely -WWs give
about 6010 and 5986 (other -WWs with much lower targets are not mentioned
presently). A Two rising wedges seem to have broken down and can give 5990/40
unless nifty remains above 6139/54. A rising channel break down can give about
5840 once below 6006. A horizontal channel BO/BD can give 6094/6020. A bearish
flag can give about 6015 unless killed above 6085.
Nifty managed to close above 6050 again.
The daily candle is an inside (doji) bar. Therefore, it's buy above 6065 (or
6072) and sell below 6055 (or 6043). The mild -ve div on daily chart is still
worrisome. Nifty is once again in the range 5990-6100. Be careful of high
intraday volatility, Thursday being an expiry day. I feel one should avoid
trading as long as trend is not clear or trade for February series.
2. PCR at
1.04 and VIX at 14.38. Pre-open data suggests a -ve nifty
after a small gap down open, unless it remains above 6068.
3. AS PER
9.30 STRATEGY, SELL ABOVE 6059NF, TARGET 6022, SL 6089.
4. Nifty
opened down with a small gap and remained flat before reacting later in the
day. It made a lower high and low than those yesterday before closing -ve and
also below yesterday's close. The targets of BD of horizontal channel and
bearish flag of the first post as well as the target of 9.30 strategy were
missed by a few points.
The intraday chart of nifty spot values with 5 min candles is shown below.
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