1. Supports are at about 6035,
5996, 5972, 5958 and 5900 while resistances are at about 6055 and 6130.
Previous lower and higher levels to watch are 5860 and 6111. Two likely +WWs
give about 6070 and 6090 (+WWs with higher targets are not mentioned as of
now). Five likely -WWs give about 6032 (once below 6045), 6013 (once below
6035), 6003, 5991 (once below 6019) and 5900 (once below 5989) (-WWs with lower
targets are not mentioned presently). A bullish flag can give much higher level
unless killed below 5700. A rising wedge can give about 5936 in case of a BD
below 6035 while a rising channel can give about 5867 in case of a BD below
5982.
Nifty rose sharply again to close above
6000 and is bullish. The monthly candle is also bullish. However, I feel
6115-30 may be a strong resistance zone this week while 5965 may provide
support on Wednesday. A close below 5950 may be bad. 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.
Volatility may remain high.
2. PCR up at 1.20 and VIX up at 16.50.
Pre-open data suggests a -ve nifty after a small gap open unless it remains
above 6044 till afternoon.
3. AS PER 9.30 STRATEGY, SELL ABOVE 6051NF,
TARGET 6021, SL 6081.
4. Be careful of volatility.
5. If SL is hit, buy below 6082NF, target
6113, SL 6052.
6. Target of first +ww met.
7. Target of first -ww met.
8. SL hit.
9. Nifty opened up with a gap and quickly
reacted but recovered again by noon to make a higher low and high than those
yesterday before closing +ve and also above yesterday's close. The targets of
first +ww and -ww of the first post were met. The target of 9.30 strategy trade
was just missed and then its SL was hit too late in the day to give target of
reverse trade. The daily candle is a hanging man.
The intraday
chart of nifty spot values with 5 min candles is shown below.
No comments:
Post a Comment