1. Supports are at about 6087,
6068, 6043 and 6018 while resistances are at about 6126, 6142 and 6220.
Previous lower and higher levels to watch are 5928 and 6112/6181. A likely +WW
gives about 6130 (+WWs with higher targets are not mentioned as of now). Four
likely -WWs give about 6078 (once below 6125, which is yet to be reached),
6036, 6029 and 6023 (once below 6120, which is yet to be reached) (-WWs with
lower targets are not mentioned presently). Two rising wedges can give about
5936/6857 upon BD below 6070.
Nifty rose again and closed just below
6100, above TL from Nov '10 high and at a new daily high since 5/1/11. The
daily candle is a Marubuzo. First sign of weakness and selling will come in
case of a close below 6018. Since Saturday is an extended session, a weekly
close above 6083 is a must to maintain the trend. Only global cues and/or
liquidity (including from DIIs) can take nifty further up. Volatility may remain
high. Being a narrow 1.30 hour session, trade lightly.
2. Pre-open data suggests a -ve nifty
after a slight gap down open unless it goes above 6105.
3. AS PER 15TF CLOSE STRATEGY, BUY BELOW
6121NF, TARGET 6147, SL 6091.
4. Nifty opened down with a slight gap but
then kept rising to close +ve and also above yesterday's close. Being a short
session, none of the targets were met. However, the highlights of session were
(a) a new high of 2013, (b) highest close of 2013, (c) highest daily close
since 4/1/11 and (d) highest weekly close since 31/12/10. Both the daily and
weekly candles are Marubuzo.
The intraday
chart of nifty future values with 5 min candles is shown below.
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