Daily_Nifty_VP's View-28/03/13

LEADER POST for Thursday (28/03/13)

1.         Supports are at about 5631 and 5595 while resistances are at about 5658, 5675 and 5700. Three likely +WWs give about 5657, 5727 and 5769 (other +WWs with higher targets are not mentioned as of now). A -ww can give about 5600 (-WWs with much lower targets are not mentioned presently). Two falling wedges can give about 5770/5853/5945 in case of a BO above 5604/5655.

Nifty recovered a bit but closed below 5650 again, threatening to go down more. But, nifty seems to have taken support from 200 sma and there is a +ve div on daily chart. As long as nifty doesn't close below 5615, I feel nifty will go up in short term. Only global clue and/or liquidity (including from DIIs) can take nifty further up. Volatility will continue to be high as expiry and year end approaches.

2.         PCR up at 0.81 and VIX down at 15.80. Pre-open data suggests +ve nifty after a slight gap up open unless it remains below 5640.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5623NF, TARGET 5593, SL 5653.

4.         If SL is hit, buy below 5647NF, target 5678, SL 5617.

5.         Target of -ww considered met.

6.         Target of first +ww met.

7.         SL of 9.30 strategy was hit and target of reverse trade met.

8.         Nifty opened flat, went down to make a lower low and then remained within a range of about 35 for for about 5 hours. But it rose sharply late in the afternoon to make a higher high than yesterday before closing +ve (as indicated by the pre-open data) and also above yesterday's close. The targets of -ww and the first +ww of the first post were met. However, SL of 9.30 strategy trade was hit and target of reverse trade was met. The daily candle is merely bullish but the weekly candle is a hammer, the monthly candle is an inverted hammer while the yearly candle is like a Doji.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-26/03/13

LEADER POST for Tuesday (26/03/13)

1.         Supports are at about 5621 and 5510 while resistances are at about 5694 and 5740. Five likely +WWs give about 5650 (once above 5633), 5715 (once above 5664), 5723 (once above 5627), 5756 (once above 5622) and 5766 (once above 5660) (other +WWs with higher targets are not mentioned as of now). (-WWs with much lower targets are not mentioned presently). A bearish flag gives much lower level unless killed above 5675. A falling wedge and three falling channels can give about 5770/5853/5945/5971 in case of a BO above 5681.

Nifty fell sharply after a gap up open and closed below 5650 again, threatening to go down more. But, nifty seems to have taken support from 200 sma and there is a +ve div on daily chart. However, nifty may go down to just below 5600 to create panic and create a bear trap. As long as nifty doesn't close below 5615, I feel nifty will go up in short term. Only global clue and/or liquidity (including from DIIs) can take nifty further up. Volatility will continue to be high as expiry and year end approaches.

2.         PCR down at 0.78 and VIX up at 16.36. Pre-open data suggests a +ve nifty after a small gap down open unless it remains below 5610.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5636NF, TARGET 5666, SL 5606.

4.         Target of first +ww met.

5.         Nifty opened gap down and made a lower high and low than those yesterday before closing +ve (as suggested by the pre-open data) and also above yesterday's close. The target of first +ww was met. Today's gap was also filled. However, neither the target of 9.30 strategy was met nor was its SL hit.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-25/03/13

LEADER POST for Monday (25/03/13)

1.         Supports are at about 5615 and 5595 while 200 sma is at about 5618. Resistances are at about 5690 and 5737. Five likely +WWs give about 5692, 5751, and 5762 (once above 5659) and 5794/5825 (once above 5620, which is not reached yet) (other +WWs with higher targets are not mentioned as of now). (-WWs with much lower targets are not mentioned presently). A bearish flag gives much lower level unless killed above 5710. A falling wedge and three falling channels can give about 5770/5853/5945/5971 in case of a BO above 5710.

Nifty fell sharply but recovered to close just above 5650 again, threatening to go down more. But, there is a +ve div on all indicators as well as a hidden div on daily chart and the daily candle is Doji, all of which are bullish signs. However, nifty may go down to just below 5600 to create panic and create a bear trap. As long as nifty doesn't close below 5615, I feel nifty will go up in short term. Only global clue and/or liquidity (including from DIIs) can take nifty further up. Volatility will continue to be high.

2.         PCR down at 0.82 and VIX down at 15.54. Pre-open data suggests a +ve nifty after a gap up open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5712NF, TARGET 5743, SL 5682.

4.         If SL is hit, sell above 5689NF, target 5657, SL 5719.

5.         Target of first +ww met.

6.         SL hit.

7.         Target of reverse trade met without giving a chance to enter.

8.         Target of bearish flag of the first post met.

9.         Today's gap filled.

10.       Nifty opened gap up, remained flat for over 4 hours before falling sharply. It made a higher high and lower low than those on Friday before closing -ve and also below Friday's close. The targets of first +ww and the bearish flag of the first post were met. But the SL of 9.30 strategy trade was hit and the target of reverse trade was met without giving chance of an entry. During the fall, nifty also filled the gap created in the morning. Though not of nifty spot, the daily candle of nifty fut may have formed a Last Engulfing Bottom.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-22/03/13

LEADER POST for Friday (22/03/13)

1.         Supports are at about 5640/30 while 200 sma is at about 5615. Resistances are at about 5732 and 5779. Three likely +WWs give about 5725/5785/5800 (once above 5648) (other +WWs with higher targets are not mentioned as of now). (-WWs with much lower targets are not mentioned presently). A bearish flag gives much lower level unless killed above 5720. A falling wedge and three falling channels can give about 5770/5853/5945/5971 in case of a BO above 5709/5726.

Nifty fell sharply again and closed strongly below 5650, threatening to go down more. However, there is a +ve div on all indicators as well as a hidden div on daily chart. Also, daily candle is like an imperfect inverted hammer, all of which are bullish signs. As long as nifty doesn't close below 5630, I feel nifty will go up in short term. Only global clue and/or liquidity (including from DIIs) can take nifty further up. Volatility will continue to be high.

2.         PCR down at 0.83 and VIX down at 16.51. Pre-open data suggests a +ve nifty after a flat open unless it remains below 5650 till afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5665NF, TARGET 5702, SL 5635.

4.         Target of 9.30 strategy trade met.

5.         Nifty opened flattish and slowly slid down to make a lower low. It then rose sharply but could not make a higher high. It fell again late in the day to close -ve and also below yesterday's close. However, nifty fut closed +ve and also above yesterday's close. The target of 9.30 strategy was met. The daily candle is a Doji.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-21/03/13

LEADER POST for Thursday (21/03/13)

1.         Support is at about 5663, which is also a previous low while 200 sma is at about 5611. Resistances are at about 5705, 5717, 5729, 5752 and 5771. Four likely +WWs give about 5711 (once above 5690), 5743 (once above 5675), 5747 (once above 5702) and 5770 (once above 5677) (other +WWs with higher targets are not mentioned as of now). (-WWs with much lower targets are not mentioned presently). A bearish flag gives about 5669 unless killed above 5708. A falling wedge seems to have BO and can give about 5770 if nifty remains above 5696.

Nifty fell sharply and closed strongly below 5700, threatening to go down more. However, the weekly view is still not bearish and there is now a +ve div as well as a hidden div on daily chart, which is a bullish sign. As long as nifty doesn't close below 5650, I feel nifty will go up in short term. Only global clue and/or liquidity (including from DIIs) can take nifty further up. Volatility will continue to be high.

2.         PCR down at 0.89 and VIX down at 16.66. Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5690 till second half.

3.         The first 5tf candle is a Doji hence be careful.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5752NF, TARGET 5773, SL 5722.

5.         If SL is hit, sell above 5709NF, target 5686, SL 5739.

6.         Target of first +ww was met soon after open.

7.         SL hit.

8.         Target of reverse trade met.

9.         SL of reverse trade hit after giving target. So once again long.

10.       Target of second +ww met.

11.       A -ww give 5695.

12.       Target of bearish flag of the first post was met.

13.       Target of third +ww met.

14.       Target of -ww mentioned above is reduced to 5682NS as of now.

15.       Revised target of -ww met

16.       Nifty opened up with a small gap and reacted soon thereafter to make a lower low. However, it rose sharply to make a higher high before falling sharply to make a lower low again. The intraday volatility was so high that the targets of both the first three +WWs and the bearish flag of the first post were met. What's more, first SL of 9.30 strategy trade was hit, then target of reverse trade was met, then SL of reverse trade was hit and target of original trade was missed by only 1 point, then SL of original trade was hit again and finally target of reverse trade was met again. In addition, target of a -ww identified during the day was also met.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-20/03/13

LEADER POST for Wednesday (20/03/13)

1.         Supports are at about 5730 and 5701 while resistances are at about 5767, 5782, 5802 and 5814. Two likely +WWs give about 5870 (once above 5813) and 5894 (once above 5818) (other +WWs with higher targets are not mentioned as of now). (-WWs with much lower targets are not mentioned presently).

Nifty fell sharply and closed strongly below 5750, threatening to go down more. The daily candle is also bearish engulfing. However, the weekly view is still not bearish and there is now a hidden div on daily chart, which is a bullish sign. As long as nifty doesn't close below 5650, I feel nifty will go up in short term. Only global clue and/or liquidity (including from DIIs) can take nifty further up. Volatility will continue to be high.

2.         PCR at 0.96 and VIX at 16.71. Pre-open data suggests a -ve nifty after a slight gap down open unless it remains above 5755.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5718NF, TARGET 5691, SL 5748.

4.         SL hit. Now buy below 5751NF, target 5778, SL 5721.

5.         SL of reverse trade also hit.

6.         Nifty opened down with a small gap but slowly reacted to make a lower high and low than those yesterday before closing -ve (as indicated by the pre-open data) and also below yesterday's close. The SLs on either side trades of 9.30 strategy were hit but the target of original trade was missed by 10 points.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-19/03/13

LEADER POST for Tuesday (19/03/13)

1.         Supports are at about 5831 and 5821 while resistances are at about 5843, 5894 and 5931. Three likely +WWs give about 5894 (once above 5830), 5935 (once above 5829) and 5952 (once above 5838) (other +WWs with higher targets are not mentioned as of now). A likely -WW gives about 5780 (once below 5862) (-WWs with much lower targets are not mentioned presently). A falling broadening wedge seems to have broken out and can give 5971/6070 but if nifty remains below 5836, its BD can give 5729.

Nifty closed below 5850 again confirming reversal indicated by Dark Cloud Cover candle of Friday. But the daily candle is like an inverted hammer, a reversal sign if nifty manages to close above 5936 and preferably above 5873. The bullish sentiment continues on weekly basis unless this week closes below 5946. There is also a mild hidden divergence on daily chart. Only global clue and/or liquidity (including from DIIs) can take nifty further up. Considering that Tuesday's RBI policy review is the most important of the year, volatility will be very high with wild swings. I feel that both 5753/5729 on lower side and 5990/6030 on higher side are possible by expiry.

2.         PCR at 1.15 and VIX at 15.85. Pre-open suggests a +ve nifty after a gap up open unless it remains below 5835.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5885NF, TARGET 5907, SL 5855.

4.         If SL is hit, sell above 5842NF, target 5819, SL 5872.

5.         SL hit.

6.         Target of reverse trade met.

7.         The target of -WW as well as that of BD of falling broadening wedge of the first post met.

8.         Nifty opened up with a gap but started reacting slowly. However, the moment it went below 5835, it collapsed as indicated by the pre-open data. It thus made a higher and lower low than those yesterday before closing strongly -ve and also below yesterday's close. The targets of -ww and BD of a broadening wedge of the first post were met. However, SL of 9.30 strategy trade was hit and target of reverse trade was met. The daily candle is a bearish engulfing.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-18/03/13

LEADER POST for Monday (18/03/13)

1.         Supports are at about 5864 and 5824 while resistances are at about 5888, 5911, 5938 and 5976. Four likely +WWs give about 5894 (once above 5840, which is yet to be reached), 5913 (once above 5853, which is yet to be reached), 5925 once above 5869) and 5990 (other +WWs with higher targets are not mentioned as of now). Six likely -WWs give about 5848 (once below 5945), 5835 (once below 5918), 5828 (once below 5979, which is yet to be reached), 5780 (once below 5857), 5766 (once below 5977, which is yet to be reached) and 5753 (once below 5927) (-WWs with much lower targets are not mentioned presently).

A falling channel BO can give about 5971 if nifty remains above 5795. A bullish flag can give much higher level unless killed below 5846. A bearish flag gives lower level unless killed above 5911. A falling broadening wedge seems to have broken out and can give 5971/6070 but if nifty remains below 5856, its BD can give 5729.

Nifty fell sharply to close below 5900 again confirming reversal indicated by Tasuki Downside Gap candle of Thursday. But the daily candle can be considered to be a Dark Cloud Cover, a bearish sign again unless nifty closes above 5946 on Monday. Fortunately weekly candle is not a hanging man. Also, nifty closed above 20sma on weekly basis and hence the bullish sentiment continues on weekly basis unless next week closes below 5946. 5998 on higher side is crucial level.

           Only global clue and/or liquidity (including from DIIs) can take nifty further up. Considering that next week's RBI policy review is the most important of the year, volatility will be very high with wild swings. I feel that both 5753/5729 on lower side and 5990/6030 on higher side are possible by expiry.

 

Only global clue and/or liquidity (including from DIIs) can take nifty further up. Considering that next week's RBI policy review is the most important of the year, volatility will be very high with wild swings. I feel that both 5753/5729 on lower side and 5990/6030 on higher side are po2.         Pre-open data suggests a +ve nifty after a gap down open unless it remains below 5820.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5854NF, TARGET 5889, SL 5824.

4.         Targets of first three -WWs met.

5.         Nifty opened down with a gap, remained flat till afternoon and then rose a bit but made a lower high and low than those on Friday before closing +ve but below Friday's close. The targets of first three -WWs and the bearish flag of the first post were met but that of 9.30 strategy trade was not met as the total range was about 35 points. The daily candle is like an inverted hammer.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-15/03/13

LEADER POST for Friday (15/03/13)

1.         Supports are at about 5896, 5881 and 5810 while resistances are closely spaced at about 5917, 5929, 5947 and 5976 while previous higher levels to watch are 5971 and 5991. Three likely +WWs give about 5937, 5994 and 6016 (other +WWs with higher targets are not mentioned as of now). Four likely -WWs give about 5884 (once below 5912), 5835 (once below 5977, which is yet to be reached), 5815 (once below 5897) and 5781 (once below 5855) (-WWs with much lower targets are not mentioned presently). A falling wedge BO can give about 5943 unless nifty reacts again while a falling channel BO can give about 5971 if nifty remains above 5824. A bullish flag can give much higher level unless killed below 5846. A falling broadening wedge seems to have broken out and can give 5971/6070 but if nifty breaks and remains below 5882, the BD can give 5729. A IHnS BO gives about 6100 unless nifty remains below 5931.

            Nifty rose sharply after initial severe reaction to close above 5900 again indicating bullishness. However, though daily candle is bullish engulfing, it is also an imperfect Tasuki Downside Gap candle, which can imply continuation of down trend. There is also a mild -ve div on weekly chart. Friday being last day of the week, its closing assumes great importance. If nifty closes flat or above Thursday's close, weekly candle will be a hanging man, a weekly bearish sign. Therefore, to continue last week's bullish trend, nifty will actually have to close well below 5909 OR the high will have to be at/above 5983 and also a close flat or -ve. 5998 on higher side is crucial level. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

 

70 but if nifty breaks and remains below 5882, the BD can give 5729. A IHnS BO gives about 6100 unless nifty remains below 5931. Nifty rose sharply after initial severe reaction to close above 5900 again indicating bullishness. However, though daily candle is bullish engulfing, it is also an imperfect Tasuki Downside Gap candle, which can imply continuation of down trend. There is also a mild -ve div on weekly chart. Friday being last day of the week, its closing assumes great importance. If nifty closes flat or above Thursday's close, weekly candle will be a hanging man, a weekly bearish sign. Therefore, to continue last week's bullish trend, nifty will actually have to close well below 5909 OR the high will have to be at/above 5983 and also a close flat or -ve. 5998 on higher side is crucial level. Only global clue and/or liquidity (including from DIIs) can take nifty fu2.         PCR down at 1.18 and VIX down at 14.66 (15% fall from top). Pre-open data suggest a -ve nifty after a slight gap up open unless it remains above 5915.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5960NF, TARGET 5990, SL 5930.

4.         If SL is hit, sell above 5939NF, target 5900, SL 5969.

5.         Target of first +ww met.

6.         Falling wedge BO target met.

7.         Two new, small -WWs give about 5896 and 5875NS.

8.         SL hit.

9.         Target of first new -ww mentioned above met.

10.       Target of first -ww of the first post met.

11.       Target of second new -ww mentioned above has become 5860.

12.       Target of reverse trade of 9.30 strategy met.

13.       Original target of second new -ww met. Now waiting for new target.

14.       Revised target of second new -ww missed out by 1.70 so far.

15.       Nifty opened up with slight gap, went up for an hour and then reacted sharply. However, it still made a higher high and low than those yesterday before closing -ve (as suggested by the pre-open data) and also below yesterday's close. The targets of first +ww and of BO of a falling wedge of the first post were met. Also met were targets of first -ww of the first post as well as of two -WWs identified during the day. However, SL of the 9.30 strategy trade was hit and target of reverse trade was met. The daily candle can be considered to be a Dark Cloud Cover.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-14/03/13

LEADER POST for Thursday (14/03/13)

1.         Supports are at about 5838 and 5815 while a previous level to watch is 5823. Resistances are at about 5862 and 5919 while previous higher levels to watch are 5971 and 5991. Three likely +WWs give about 5889 (once above 5859), 5894 (once above 5858) and 5972 (once above 5892) (other +WWs with higher targets are not mentioned as of now). (-WWs with much lower targets are not mentioned presently). A rising wedge seem to have broken down and can give about 5805 unless nifty remains above 6100. A falling wedge BO can give about 5943 if nifty remains above 5859 while a falling channel BO can give about 5971 if nifty remains above 5865. Two bearish flags give lower levels unless killed above 5854/5867. A IHnS BO gives about 6100 unless nifty remains below 5925.

Nifty reacted but managed to close just above 5850 continuing the bearishness of Tuesday. Nifty is now in a crucial zone from where it can either BO or BD. The last week's bullish engulfing candle still gives hope to bulls. 5998 on higher side and 5823 on lower side are crucial levels. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR at 1.28 and VIX at 16.20. Pre-open data suggests an uncertain nifty after a slight gap down open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5877NF, TARGET 5906, SL 5847.

4.         SL hit. Now sell above 5876NF, target 5817, SL 5878.

5.         Target (of reverse trade) met without getting chance of an entry.

6.         SL of reverse trade also hit. Now long trade again.

7.         Targets of both bearish flags of the first post met.

8.         Original target of 9.30 strategy trade met.

9.         Targets of first two +WWs of the first post met.

10.       Target of 5805 of BD of a rising wedge of the first post looked unlikely till today but was met easily due to the sharp fall in the morning.

11.       Nifty opened down with a slight gap, tanked soon thereafter but quickly rallied sharply. It thus made a lower low and higher high than those yesterday before closing strongly +ve and also above yesterday's close. The targets of (a) two +WWs, (b) BD of a rising wedge and (c) two bearish flags of the first post were met. However, SL of 9.30 strategy trade was hit and target of reverse trade was met but without giving chance of an entry. Later SL of reverse trade was also hit and target of original trade was met. The daily candle is bullish engulfing and also an imperfect Tasuki Downside Gap.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-13/03/13

LEADER POST for Wednesday (13/03/13)

1.         Supports are at about 5903, 5854 and 5830. Resistances are at about 5939, 5971 and 6014 while previous higher level to watch is 5991. Three likely +WWs give about 5959 (once above 5904), 5967 (once above 5922) and 5985 (once above 5913) (other +WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5888 and 5846 (-WWs with much lower targets are not mentioned presently). A rising wedge seem to have broken down and can give about 5805 unless nifty remains above 6050. A IHnS BO gives about 6100 unless nifty remains below 5915.

Nifty reacted but closed above 5900 confirming the bearishness of imperfect morning doji star of Monday. Nifty seems to have made a double bottom at 5893. The +ve signs such as last week's bullish engulfing candle, a +ve div in RSI on weekly chart, etc. point to higher levels. 5998/6050 on higher side and 5828 on lower side are crucial levels. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.29 and VIX up at 15.13. Pre-open data suggests a -ve nifty after a gap down open.

3.         Target of first -ww met.

4.         AS PER 9.30 STRATEGY, SELL ABOBE 5895NF, TARGET 5865, SL 5925.

5.         9.30 strategy target met.

6.         Target of second -ww also met.

7.         Nifty opened gap down and once again remained within a range of about 24 points for about four hours before reacting to make a lower high and low than those yesterday and closing strongly -ve and also below yesterday's close. The targets of both the -WWs of the first post as also that of 9.30 strategy trade were met.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-12/03/13

LEADER POST for Tuesday (12/03/13)

1.         Supports are at about 5928 and 5914. Resistances are at about 5950, 5975, 5993 and 6046 while previous higher level to watch is 5991. Two likely +WWs give about 5961 (once above 5933) and 5998 (other +WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5922, 5897 (once below 5925) and 5851 (-WWs with much lower targets are not mentioned presently). Two rising wedges seem to have broken down and can give about 5893/5805 unless nifty remains above 6014/6032. A HnS BD gives about 5885 unless nifty remains above 5962. A IHnS BO gives about 6075/6100 unless nifty remains below 5909.

Nifty once again closed just below 5950. The daily candle is an imperfect morning doji star, a likely reversal sign. It will be confirmed if nifty closes well below 5945, preferably after a gap down open. There is a danger of nifty having made a double top on Monday. However, +ve signs such as last week's bullish engulfing candle, a +ve div in RSI on weekly chart, etc. point to higher levels. As such, 5998/6050 on higher side and 5828 on lower side are crucial levels. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.18 and VIX up at 14.25. Pre-open data suggests a flat to -ve nifty after a flat open unless it remains above 5960.

3.         AS PER 9.30 STRATEGY, SELL BELOW 5941NF, TARGET 5917, SL 5971.

4.         SL hit.

5.         ……SL for (reverse) long is about 5953NF.

6.         SL of reverse trade also hit. Trend down again.

7.         Target of first -ww met.

8.         Target of second -ww met.

9.         Target of original 9.30 strategy trade met.

10.       Nifty opened flat and remained flat for over two hours before reacting to make a lower high and low than those yesterday and closing -ve and also below yesterday's low. The targets of first two -WWs and BD of a rising wedge of the first post were met. Also considered met was target of BD of HnS. But the SLs of either side trades of 9.30 strategy were hit and then the target of original trade was met. Also, the reversal indicated by yesterday's imperfect morning doji star was confirmed.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-11/03/13

LEADER POST for Monday (11/03/13)

1.         Supports are at about 5939, 5910 and 5871. Resistances are at about 5980 and 6060 while previous higher levels to watch are 5971 and 5991. Two unfilled gaps at lower levels are at 5863 and 5784. A likely +WW gives about 5996 (other +WWs with higher targets are not mentioned as of now). Two likely -WWs give about 5926 (once below 5958) and 5815 (once below 5885) (-WWs with much lower targets are not mentioned presently). A bullish flag gives higher level unless killed below 5915. A rising channel can give about 5894 in case of a BD below 5943.

Nifty again rose sharply to close just below 5950 and seems headed for higher levels. The daily and weekly candles are bullish Marubuzo while weekly candle is also a bullish engulfing. There is also a +ve div in RSI on weekly chart. In addition, nifty closed above 50 sma on daily chart and above 20 sma on weekly chart. Hence, everything points to much higher levels. However, there is a mild hidden divergence on daily chart and nifty will have to remain above 5972 for some days to kill it. There is a danger of nifty making a double top next week. As such, 5998/6050 on higher side and 5828 on lower side are crucial levels for next week. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         PCR up at 1.15 and VIX up at 13.34. Pre-open data (doji) suggests an uncertain nifty after a flat open.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5984NF, TARGET 6013, SL 5954.

4.         If SL is hit, sell above 5953NF, target 5923, SL 5983.

5.         SL hit.

6.         SL of reverse trade was also hit.

7.         Nifty opened flat, made a higher high and low than those on Friday before closing slightly -ve and also below Friday's close. The previous high of 5971 on 20/02 was crossed by just 0.20. SLs of 9.30 strategy trades were hit on either side but neither side targets were met. The total range was about 41. The daily candle is a doji and an imperfect morning star.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-08/03/13

LEADER POST for Friday (08/03/13)

1.         Supports are at about 5859, 5838 and 5825. Resistances are at about 5897 and 6000. An unfilled gap on higher side is 5943 while previous higher levels to watch are 5971 and 5991. Two likely +WWs give about 5913 and 5987 (other +WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5785 (once below 5866), 5783 (once below 5824) and 5764 (once below 5804) (-WWs with much lower targets are not mentioned presently). A bullish flag gives much higher levels unless killed below 5833. A rising channel can give about 5830 in case of a BD below 5866.

           Nifty again rose sharply to close above 5850 and seems headed for higher levels. The daily candle is also a bullish Marubuzo. The level of 5879 mentioned in Thursday's thread was almost re...ached and the weekly candle will most probably become a bullish engulfing one. There is already a +ve div in RSI on weekly chart. Also, nifty closed above 20sma and just crossed above 34 ema on daily chart. Hence, everything points to much higher levels. If nifty closes above 5848 on Friday, it will close above 20 sma on weekly chart also.

          However, nifty has reached overbought levels on lower tf and Friday may become the last bullish day for some time to come. Also, 5885 is a resistance of upper TL on weekly chart and there is a danger of nifty making a double top. Therefore, bulls will hope for 5879 being exceeded by a wide margin. Only global clue and/or liquidity (including from DIIs) can take nifty further up.

2.         Pre-open data suggests a +ve nifty after a gap up open unless it goes and remains below 5860 for an hour. PCR up at 1.05 and VIX down at 13.07.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5927NF, TARGET 5952, SL 5897.

4.         Target of first +ww met.

5.         Target (of 9.30 strategy trade) met.

6.         Gap at 5943NS filled up.

7.         Nifty opened gap up and once again remained in a small range of about 30 for about 4 hours before making a sharp upmove like yesterday. It made a high and low than those yesterday before closing strongly +ve (as indicated by the pre-open data) and also above yesterday's close. The target of first +ww and the bullish flag of the first post were met as also the target of 9.30 strategy trade. In the process, the gap at 5943 was also filled. The daily and weekly candles are bullish Marubuzo and weekly candle is also bullish engulfing.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-07/03/13

LEADER POST for Thursday (07/03/13)

1.         Supports are at about 5779, 5750, 5719 and 5687. Resistances are at about 5821, 5831, 5843 and 5910. Two unfilled gaps on higher side are at 5855 and 5943. Two likely +WWs give about 5845 and 5908 (other +WWs with higher targets are not mentioned as of now). Four likely -WWs give about 5802 (once below 5842, which is yet to be reached), 5796, 5768 and 5702 (once below 5748) (-WWs with much lower targets are not mentioned presently). A bullish flag gives higher levels unless killed below 5775. A rising channel & wedge seems to have broken down and can give about 5680/75 unless nifty goes up and remains above 5879.

Nifty again rose to close above 5800 and seems headed for higher levels. However, daily candle is a hammer and a likely morning doji star, a reversal sign. Reversal will be confirmed if nifty closes well below 5784 (preferably around 5755), particularly after a gap down open. The level of 5879 mentioned above is very important since if nifty crosses above it this week, the weekly candle becomes bullish engulfing with +ve div in RSI. 5879/78 is, therefore, line of fight between bulls and bears. Only global clue and/or liquidity (including from DIIs) can rescue nifty.

2.         Pre-open data suggests a +ve nifty after a gap down open unless it remains below 5800. PCR up at 1.0 and VIX at 13.40.

3.         Target of first -ww met.

4.         AS PER 9.30 STRATEGY, SELL ABOVE 5810NF, TARGET 5786, SL 5840.

5.         Considering yesterday's likely morning doji star candle, it is better to consider SLs a bit above/below yesterday's high/low of 5850/5813NF for short/long positions. Note that first condition of reversal has been met i.e. nifty opened gap down.

6.         If SL is hit, buy below 5849NF, target 5874, SL 5819.

7.         Even though trend is down, yesterday's low of 5796NS/5813NF is not broken. as of now.

8.         SL hit.

9.         The moment yesterday's high was crossed, it shot up.

10.       Target of first +ww met.

11.       Target of reverse trade of 9.30 strategy met.

12.       The target of bullish flag of the first post was met.

13.       The gap at 5855 mentioned in the first post was filled today.

14.       Nifty opened gap down, remained in a tight range of about 20 points for four hours and then made a decisive and sharp upmove. It thus made a higher high and low than those yesterday before closing strongly +ve (as indicated by the pre-open data) and also above yesterday's close. The targets of first -ww and +ww as also that of the bullish flag of the first post were met. However, the SL of 9.30 strategy trade was hit and the target of reverse trade was met. In addition, the gap at 5855 was filled. The daily candle is a bullish Marubuzo again.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-06/03/13

LEADER POST for Wednesday (06/03/13)

1.         Supports are at about 5769, 5737, 5701 and 5684. Resistances are at about 5801, 5812 and 5910. Two unfilled gaps on higher side are at 5855 and 5943. Three likely +WWs give about 5796, 5846 and 5883 (other +WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5774 (once below 5801, which is yet to be reached), 5754 (once below 5790) and 5714 (once below 5744) (-WWs with much lower targets are not mentioned presently). A bullish flag gives higher levels unless killed below 5756. A rising wedge can give about 5725 in case of a BD if nifty remains below 5782.

Nifty rose sharply to close nearer to 5800. There is a mild +ve div on STS, CCI and RSI on daily chart. Daily candle is a bullish Marubuzo. Bulls will hope that it now closes above 5835 to give first hint of further rise. Bears will hope for a close below 5700 again. Only global clue and/or liquidity (including from DIIs) can rescue nifty.

2.         Pre-open data suggests a +ve nifty after a gap up open unless it breaks below 5780.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5844NF, TARGET 5865, SL 5814.

4.         If SL is hit, sell above 5800NF, target 5777, SL 5830.

5.         SL hit.

6.         Target of first +ww met in open itself.

7.         SL hit on reverse side also. Back to long as per 9.30 strategy.

8.         Nifty opened up with a gap, made a higher high and low than those yesterday before closing +ve and also above yesterday's close. The targets of first +ww and the bullish flag of the first post were met. However, SLs on either side of 9.30 strategy were hit but targets on neither side were met. The total range was about 33. The daily candle is a hammer as well as a likely morning doji star (daily candle of nifty fut is only a likely morning star).

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-05/03/13

LEADER POST for Tuesday (05/03/13)

1.         Supports are at about 5690, 5683, 5673 and 5653. The nearest gap yet to be filled on lower side is at 5648. Also, 200 sma is at about 5556 and the previous low was 5548 in Nov '12 from where this rally started. Resistances are at about 5715, 5791 and 5809. Two unfilled gaps on higher side are at 5855 and 5943. One likely +WW gives about 5786 (once above 5691) (other +WWs with higher targets are not mentioned as of now). A likely -WW gives about 5668 (once below 5704) (-WWs with much lower targets are not mentioned presently). A HnS has broken down and can give about 5550 unless nifty goes up from here and remains above 5970.

Nifty recovered a bit from the lows but could not close above 5700. There is a mild +ve div on STS, CCI and RSI on daily chart. Also, nifty closed at 34 ema on weekly chart. Daily candle is a Doji/hammer. Bulls will hope that bottom is in place while bears will hope for further downside. Only global clue and/or liquidity (including from DIIs) can rescue nifty.

2.         AS PER 9.30 STRATEGY, BUY BELOW 5738NF, TARGET 5776, SL 5708.

3.         Target of 9.30 strategy trade met but without giving a chance of an entry.

4.         Target of +ww met.

5.         Nifty opened up with a gap, remained flat for about two hours before making an upmove. It made a higher high and low than those yesterday before closing strongly +ve and also above yesterday's close. The target of +ww of the first post was met as also that of 9.30 strategy though without giving a chance of an entry. The daily candle is a bullish Marubuzo.

The intraday chart of nifty spot values with 5 min candles is shown below.