1. Supports are at about 6125, 6081, 6044
and 5995 while resistances are at about 6175 and 6220. Previous higher level to
watch is 6812. (+WWs with higher targets are not mentioned as of now). A number
of small and big -WWs give about 6128 (once below 6152), 6104 (once below
6135), 6052 (once below 6113), 6024 (once below 6161) and 5960 (once below
6119) (-WWs with lower targets are not mentioned presently). A rising wedge
break down can give about 5985 if nifty goes and remains below 6145. A bullish
flag can give much higher level unless killed below 6045.
Nifty rose sharply and closed just below 6150 and gave a very bullish
signal. However, a -ve div has appeared on daily chart and long holders need to
be careful. Also, a very high value of VIX and PCR can cause sharp falls and
rises as seen this week. Only global cues and/or liquidity can take nifty
further up. Once again, be careful of high volatility.
2. PCR up at 1.25 and VIX up at 18.13.
Pre-open data suggests a +ve nifty after a small gap down open unless it
remains below 6128 till afternoon.
3. AS PER 9.30 STRATEGY, BUY BELOW 6161NF,
TARGET 6206, SL 6131.
4. Nifty opened down with a small gap but
rose sharply to make a higher high and then remained in a range of about 33
points to make a higher low before closing +ve and also above yesterday's
close. It thus made a new high since 16/11/10 and closed at a new high since
12/11/10. However, target of 9.30 strategy was missed by 8 points.
The intraday
chart of nifty spot values with 5 min candles is shown below.
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