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.
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