1. Supports are at about 6133, 6117, 6033
and 6007 while resistances are at about 6176, 6194, 6207, 6231 and 6270. Two
+WWs give about 6191 (once above 6170) and 6260 (once above 6120, which is yet
to be reached) (+WWs with higher targets are not mentioned as of now). Five
-WWs give about 6110 (once below 6159), 6052 (once below 6141), 6009 (once
below 6157), 6001 (once below 6170) and 5967 (once below 6139) (-WWs with lower
targets are not mentioned presently). A rising wedge seems to have brone down
and can give about 5976 unless nifty goes and remains above 6221. A bullish
flag can give much higher level unless killed below 6065 while a bearish flag
can give lower level unless killed above 6190.
Nifty fell after making a new high but managed to close above 6150 giving
hint of a further fall. The daily candle is bearish engulfing and the -ve div
on daily and weekly chart persists and long holders need to be careful. Also, a
very high value of VIX and PCR can cause sharp and sudden falls and rises. Only
global cues and/or liquidity can take nifty further up. Once again, be careful
of high volatility as nifty approaches the all time high.
2. PCR down at 1.22 and VIX up at 17.71.
Pre-open data suggests a +ve nifty after a flattish open unless nifty remains
below 6150 by afternoon.
3. AS PER 9.30 STRATEGY, SELL ABOVE
6152NF, TARGET 6122, SL 6182.
4. If SL is hit, buy below 6184NF, target
6215, SL 6154.
5. 3.20 (points) short of target and then
SL hit.
6. SL of reverse trade also hit.
7. Target of original trade met.
8. Target of first -ww of the first post
met.
9. Nifty opened down with a slight gap,
made a lower high and low than those yesterday before closing -ve and also
below yesterday's close. The targets of first -WW and bearish flag of the first
post were met. However, the SL of both side trades of 9.30 strategy were hit
before giving target of the original trade.
The intraday
chart of nifty spot values with 5 min candles is shown below.
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