1. Supports are at about 5841,
5821, 5811 and 5804 while resistances are at about 5857, 5898 and 5926. Three
likely +WWs give about 5889, 5943 (once above 5813, which is not reached yet) and
5968 (once above 5877) (other +WWs with higher targets are not mentioned as of
now). A likely -WW gives about 5790 (other -WWs with much lower targets are not
mentioned presently). A falling channel can give about 6110 in case of a BO if
nifty goes up and remains above 5845. Another falling channel can give 5970 in
case of a BO above 5895. A bullish flag can give 5902 unless killed below 5843.
Nifty once again closed above 5850
confirming reversal indicated by Friday's inverted hammer, as indicated in Friday's
post, however small it may be. Also, it not only recovered after crossing below
100 sma but RSI now shows a mild +ve div for the first time in many days. Only
if Nifty closes above 6000, it may go up further. If nifty closes below 5800,
it may go down further. Only global clues and/or liquidity (including from
DIIs) can save nifty. As mentioned in the previous posts, volatility is
increasing as budget and expiry day approaches.
2. PCR at
0.87 and VIX at 16.73.
3. AS PER
9.30 STRATEGY, SELL ABOVE 5817NF, TARGET 5788, SL 5847.
4. -ww
target met.
5. Target of
9.30 strategy trade met.
6. Nifty
opened down with a gap and kept sliding throught the day, making a new low
since 30th Nov '12 thereby filling up the gap created on 30th Nov '12. The
targets of -ww as well as 9.30 strategy trade were met. The daily candle is a
big, Red Marubuzo.
The intraday chart of nifty spot values with 5 min
candles is shown below.
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