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.
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