1. Supports are at about 5870,
5857, 5824 and 5804 while resistances are at about 5935 and 5960. Previous
higher levels to watch are 5946 and 5971. (+WWs with higher targets are not
mentioned as of now). Two likely -WWs give about 5862 (once below 5930, which
is not reached yet) and 5797 (once below 5862) (-WWs with lower targets are not
mentioned presently). A bullish flag can give much higher level unless killed
below 5630.
Nifty rose again to close above 5900, at a
new high since 8th March, thereby nullifying bearish sign of Tuesday's hanging
man and continued its bullish sentiment. It now appears that nifty will rally
from here. However, the low volume on Thursday shows tiredness and it may react
a bit from here or from slightly higher levels. Nifty now needs to close
consistently above 5955. A close below 5790 may trigger further selling. Bulls
will hope that the improved micro-economic situation in India will take market
further up. Only global cues and/or liquidity (including from DIIs) can take
nifty further up.
2. Pre-open data suggests a -ve nifty after
a small gap down open unless it remains above 5913 till afternoon.
3. AS PER 9.30 STRATEGY, SELL ABOVE
5911NF, TARGET 5874, SL 5941.
4. Target of first -ww met.
5. Nifty opened gap down and continued to
fall. It attempted a recovery in the afternoon but it was short lived. It thus
made a lower high and low than those yesterday before closing -ve and also
below yesterday's close. The target of first -ww of the first post was met.
However, the target of 9.30 strategy was missed by about 3 points. The daily
candle is a Harami.
The intraday
chart of nifty spot values with 5 min candles is shown below.
No comments:
Post a Comment