Daily_Nifty_VP's View-28/06/13

LEADER POST for Friday (28/06/13)

1.         Supports are at about 5608, 5589 and 5568 while resistances are at about 5713, 5724, 5775 and 5816. The unfilled gap on upside is at 5823 and the previous lows to watch are 5566 and 5477. A +WW gives about 5740 (+WWs with higher targets are not mentioned as of now). Four -WWs give about 5671, 5669, 5628 (once below 5693) and 5555 (once below 5707) (-WWs with lower targets are not mentioned presently). A bullish flag can give higher level unless killed below 5655.

Nifty rose sharply but could not close above 5700. The weekly and monthly charts are bearish. However, daily chart has +ve divergence. If this week closes below about 5625, further fall looks certain. Bulls can hope for some recovery only if this week closes above about 5625 but close above 5705 is preferable, psychologically. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can take nifty up.

2.         Immediate trend up, target 5804NF, SL 5742. Wait for 9.30 data.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5766NF, TARGET 5804, SL 5736.

4.         Target of +ww met in the open itself.

5.         Target met.

6.         Gap at 5823 filled up.

7.         Target of bullish flag of the first post met.

8.         Encouraged by the gas price hike by the govt., which would reduce subsidy, nifty opened up with a big gap, didn't look back and kept rising sharply. It made a new high since 19/06 and closed strongly +ve and at a new high since 17/06. Targets of +WW and bullish flag of the first post were met easily as also the target of 9.30 strategy trade. In the process, the gap created on 20/06 was also filled. The daily candle is a bullish Marubuzo while monthly candle is an imperfect hammer.

Daily_Nifty_VP's View-27/06/13

LEADER POST for Thursday (27/06/13)

1.         Supports are at about 5578, 5545 and 5489 while resistances are at about 5655, 5669, 5716 and 5782. The unfilled gap on upside is at 5823 and the previous lows to watch are 5566 and 5477. Three +WWs give about 5661, 5684 and 5687 (+WWs with higher targets are not mentioned as of now). A -WW give about 5551 (-WWs with lower targets are not mentioned presently). A bearish flag can give lower level unless killed above 5610.

Nifty closed -ve below 5600 again. The weekly chart is bearish. However, daily chart shows +ve divergence. If this week closes below about 5625, further fall looks certain. Bulls can hope for a recovery only if this week closes above about 5625. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can take nifty up. Thursday being an expiry day, trade carefully.

2.         PCR down at 0.85 and VIX down at 21.07.

3.         Pre-open data suggests a +ve nifty after a gap up open unless it remains below 5647 by late afternoon.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5652NF, TARGET 5682, SL 5622.

5.         Target of first +ww of the first post met soon after open.

6.         Target of 9.30 strategy trade met.

7.         Targets of second and third +WWs of the first also met.

8.         Nifty opened up with a gap but reacted about 30 points but made a sharp move up in the afternoon to make a higher high and low than those yesterday before closing +ve and also above yesterday's close. The targets of all the three +WWs of the first post wer met as also the target of 9.30 strategy trade.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-26/06/13

LEADER POST for Wednesday (26/06/13)

1.         Supports are at about 5584, 5568 and 5530 while resistances are at about 5674, 5716, and 5786. The unfilled gap on upside is at 5823 and the previous low to watch is 5477. Two +WWs give about 5674 and 5687 (+WWs with higher targets are not mentioned as of now). A -WW give about 5584 (-WWs with lower targets are not mentioned presently).

Nifty closed flat a bit above 5600. The weekly chart is bearish. However, daily candle is a Doji, which can be a sign of reversal. For reversal to happen, nifty must close +ve and preferably above 5638. If this week closes below about 5625, further fall looks certain. Hope for bulls comes if this week closes above about 5800. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can take nifty up. This being an expiry week, trade carefully.

2.         Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5628 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5606NF, TARGET 5577, SL 5636.

4.         Target of 9.30 strategy trade met.

5.         Target of -ww of the first post was met.

6.         Nifty opened up with a small gap and remained in a range of about 35 before reacting sharply late in the afternoon to make a lower high and low than those yesterday before closing -ve and also below yesterday's close. Targets of -ww of the first post and of 9.30 strategy trade was met.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-25/06/13

LEADER POST for Tuesday (25/06/13)

1.         Supports are at about 5568, 5546, 5521 and 5504 while resistances are at about 5612, 5662, 5694 and 5716. The unfilled gap on upside is at 5823 and the previous low to watch is 5477. (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently).

Nifty fell again to close below 5650 for the first time since 15/04/13. The weekly chart is bearish. If next week closes below about 5625, further fall looks certain. Hope for bulls comes if next week closes above about 5766. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can take nifty up. This being an expiry week, trade carefully.

2.         Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5607 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5599NF, TARGET 5560, SL 5629.

4.         If SL is hit, buy below 5606NF, Target 5645NF, SL 5576.

5.         PCR down at 0.88 and VIX up at 21.01.

6.         SL hit and target of reverse trade also met but without giving chance of an entry.

7.         Nifty opened up with a small gap, reacted a bit but made a higher low and then rose sharply to make a higher high too. However, it reacted sharply to close flat but above yesterday's close. The SL of 9.30 strategy was hit and the target of reverse trade was met but without giving chance of an entry. Chance for an entry for reverse trade came too late in the day. The daily candle is a doji.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-24/06/13

LEADER POST for Monday (24/06/13)

1.         Supports are at about 5598, 5558 and 5518 while resistances are at about 5682, 5723, 5755 and 5807. The unfilled gap on upside is at 5823 and the previous low to watch is 5477. (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). A bullish flag can give higher level unless killed below 5645.

Nifty rose a bit to close mildly +ve and above 5650. The weekly chart still shows bearishness. However, a +ve div has developed on daily chart. If next week closes below 5610.65, further fall looks certain. Hope for bulls comes if next week closes above 5800. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can take nifty further up. Next week being expiry, trade carefully.

2.         Pre-open data suggests a -ve nifty unless it remains above 5638 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5612NF, TARGET 5585, SL 5642.

4.         Target of 9.30 strategy trade met.

5.         Nifty opened down with a gap and, after remaining flat for a while, started going down. It made a lower high and low than those on Friday before closing -ve and also below Friday's close. The target of 9.30 strategy trade was met.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-19/06/13

LEADER POST for Wednesday (19/06/13)

1.         Supports are at about 5801, 5789, 5764 and 5732 while resistances are at about 5824, 5867, 5892 and 5909. The unfilled gap on upside is at 5878. Four likely +WWs can give about 5837 (once above 5798), 5857, 5934 (once above 5808) and 5943 (once above 5829) (+WWs with higher targets are not mentioned as of now). Two likely -WWs can give about 5760 and 5753 (-WWs with lower targets are not mentioned presently). Two falling channels seem to have broken out and can give 5972/6130 unless nifty goes down again. A bearish flag gives lower level unless killed above 5841.

Nifty fell again but managed to close above 5800. The weekly chart still shows bearishness. Further strength will be indicated if this week closes above 5840. Also, if June closes above 5893, monthly candle will be a hammer, which may counter May's inverted hammer. However, bullishness may come only if three consecutive days close above 5860 as it may negate the large and complex HnS, which has caused the severe fall in recent past and which is threatening much lower levels. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can take nifty further up.

2.         PCR down at 0.93 and VIX up at 18.29. Pre-open data suggests a +ve nifty after a slight gap down open unless it remains below 5806 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5787NF, TARGET 5759, SL 5817.

4.         If SL is hit, buy below 5817NF, target 5846, SL 5787.

5.         Target of bearish flag of the first post met. I feel risk takers can buy around 5770 NS with SL a bit below 5750. Actually 5777 is the level but I am just banking on a brief visit to 5770 though it may not happen.

6.         SL is hit.

7.         Nifty opened down with a slight gap and quickly reacted to make a lower low. However, it then rose slowly, albeit with whipsaws, but could not make a higher high. Finally it closed +ve and also above yesterday's close. SL of 9.30 strategy trade was hit but target of reverse trade was not met.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-18/06/13

LEADER POST for Tuesday (18/06/13)

1.         Supports are at about 5841, 5818 and 5763 while resistances are at about 5886, 5907, 5940 and 5968. The unfilled gap on upside is at 5878. Three likely +WWs can give about 5935 (once above 5815) and 5972/5997 (once above 5802) (+WWs with higher targets are not mentioned as of now). Four likely -WWs can give about 5836 (once below 5858), 5826 (once below 5852), 5792 (once below 5835) and 5763 (once below 5840) (-WWs with lower targets are not mentioned presently). Two falling channels seem to have broken out and can give 5972/6130 unless nifty goes down again. A bullish flag gives higher level unless killed below 5795.

Nifty rose again to close just above 5850 and thus first condition of Monday closing above 5815 (as mentioned in Monday's thread) was fulfilled. However, weekly chart still shows bearishness. Further strength will be indicated if this week closes above 5840. Also, if June closes above 5893, monthly candle will be a hammer, which may counter May's inverted hammer. However, bullishness may come only if three consecutive days close above 5860 as it may negate the large and complex HnS, which has caused the severe fall in recent past and which is threatening much lower levels. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests a -ve nifty after a slight gap down open unless it remains above 5842 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5837NF, TARGET 5796, SL 5867.

4.         Targets of first two -WWs of the first post met.

5.         If SL is hit, buy below 5842NF, target 5884, SL 5812.

6.         SL hit.

7.         SL of reverse trade also hit.

8.         Nifty opened down with a small gap and reacted immediately before rising only to fall again. It then rose sharply again to make a higher high before tanking. Finally it closed -ve and also below yesterday's close. The targets of first two -WWs of the first post were met. However, SLs on either side of 9.30 strategy trade were hit but neither side targets were met though target of original trade was narrowly missed.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-17/06/13

LEADER POST for Monday (17/06/13)

1.         Supports are at about 5798 and 5707 while resistances are at about 5850, 5878 and 5932. Previous higher levels to watch are 5913/64. Two gaps are at 5878 and 5729. Five likely +WWs can give about 5825, 5934 (once above 5825), 5970/5994 (once above 5813) and 5986 (once above 5847) (+WWs with higher targets are not mentioned as of now). Three likely -WWs can give about 5799, 5761 (once below 5791) and 5753 (once below 5777) (-WWs with lower targets are not mentioned presently). Two falling channels seem to have broken out and can give 5972/6130 unless nifty goes down again.

Nifty rose sharply to close above 5800, above the last three day's close and also above 200 sma, as indicated by Thursday's NR7 day. Nifty also closed above 34 ema on weekly basis. However, weekly chart still shows bearishness. Futher strength will be indicated if Monday closes above 5815 and next week closes above 5840. Also, if June closes above 5893, monthly candle will be a hammer, which may counter May's inverted hammer. However, bullishness may come only if three consecutive days close above 5860 as it may negate the large and complex HnS, which has caused the severe fall in recent past and which is threatening much lower levels. VIX and PCR are still high and can cause sharp volatility. Monday being RBI policy day, trade carefully. Only global cues and/or liquidity can take nifty further up.

2.         PCR up at 0.95 and VIX down at 18.35. Pre-open data suggests a flat to -ve nifty after a small gap up open unless it remains above 5821 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5809 NF, TARGET 5775, SL 5839.

4.         If SL is hit, buy below 5827NF, target 5862, SL 5797.

5.         Target met but without giving chance of an entry. Also target of first +ww of the first post was met soon after open.

6.         SL hit.

7.         Nifty opened up with a small gap and remained subdued till RBI policy review. It then reacted immediately after the announcement but only marginally, only to rise sharply thereafter. It thus made a higher high and low than those on Friday before closing +ve and also above Friday's close. The target of first +WW of the first post was met soon after open. The target of 9.30 strategy trade was also met but without giving a chance of an entry. Later its SL was hit but target of reverse trade was not met.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-14/06/13

LEADER POST for Friday (14/06/13)

1.         Supports are at about 5670 and 5630 while resistances are at about 5755, 5780, 5813, 5833, 5854 and 5872. Two likely +WWs give about 5737 (once above 5700) and 5785 (once above 5729) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). Two falling channels can give 5972/6130 upon BO above 5700/5832.

Nifty fell again and narrowly missed closing above 5700 and thereby negated yesterday's morning star. It now seems destined to go to 5610/5450. Thursday was a NR7 day indicating a big move to come either side. The daily candle is a spinning top, indicating uncertainty. Nifty must now close above 5778 to enable higher levels. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         Pre-open data suggests a +ve nifty after a gap up open unless it remains below 5749 till afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5774NF, TARGET 5725, SL 5804.

4.         Target of first +ww of the first post met.

5.         Target of second +ww of the first post also met and SL of 9.30 strategy hit.

6.         Though I didn't post reverse strategy because SL was hit too late in the day, target of reverse trade was met but without giving chance of an entry.

7.         Nifty opened gap up and continued to go up making a higher high and low than those yesterday before closing strongly +ve and also above the last three days' close. Targets of both +WWs of the first post were met. However, SL of 9.30 strategy was hit late in the day and target of reverse trade met but without giving chance of an entry. The daily candle is a bullish Marubuzo.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-13/06/13

LEADER POST for Thursday (13/06/13)

1.         Support is at about 5723 while 5700-5750 is strong support zone. Resistances are at about 5781, 5800, 5834, 5863 and 5922. 200ema and 61.8% retracement of fall from 6229 are around 5665. Two likely +WWs give about 5803 and 5938 (once above 5821) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). Two falling wedges can give 5972/6130 upon BO above 5785/5825.

Nifty recovered after a gap down open but still closed at a new low below 5800 and seems destined to go to 5700/5625/5500. However, the daily candle is a morning doji star, a reversal sign. To confirm reversal, nifty must close well above 5789, preferably above 5819, and that too preferably with a gap up open. Also, a +ve div persists CCI on daily chart and on RSI on lower TFs. A Red candle with a gap down open will result in further fall. Nifty now needs to close above 5908 first to give some hope to bulls. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         Pre-open data suggests a +ve nifty after a gap down open unless it remains below 5709 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5701NF, TARGET 5677, SL 5731.

4.         If SL is hit, buy below 5739NF, target 5763, SL 5709.

5.         SL hit.

6.         SL hit of reverse trade also.

7.         Nifty opened gap down and remained within a range of about 47 points. It made a lower high and low than those yesterday before closing -ve and also below yesterday's close. The SL of 9.30 strategy trade was hit on either side but target on neither side was met due to narrow range and high volatility. The daily candle is again a morning star. Today was also a NR7 day.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-12/06/13

LEADER POST for Wednesday (12/06/13)

1.         Support is at about 5723 while resistances are at about 5834, 5853, 5870 and 5922. Three likely +WWs give about 5901 (once above 5851), 5980 (once above 5867) and 5985 (once above 5835) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). Two falling wedges can give 5972/6130 upon BO above 5823. A bearish flag can give lower level unless killed above 5838.

Nifty fell sharply to close at a new low below 5800 and seems destined to go to 5700/5625. However, a +ve div persists CCI on daily chart and on RSI on lower TFs. Nifty needs to close above 5977 first to give some hope to bulls. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         PCR down at 0.95 and VIX up at 19.49. Pre-open data suggests an uncertain nifty after a gap down open. +/-ve above/below 5772 depending upon how this level holds by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5762NF, TARGET 5735, SL 5792.

4.         If SL is hit, buy below 5795NF, target 5822, SL 5765.

5.         SL hit.

6.         SL of reverse trade also hit.

7.         SL hit for the third time.

8.         SL hit for the fourth time.

9.         Target of bearish flag of the first post was also met.

10.       Nifty opened gap down but couldn't go up much and reacted. It did recover later only to fall again. It thus made a lower high and low than those yesterday before closing -ve and also below yesterday's close. The SL of 9.30 strategy trade was hit 4 times on either side but neither side target was met. The daily candle is a morning doji star.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-11/06/13

LEADER POST for Tuesday (11/06/13)

1.         Supports are at about 5858, 5833, 5812 and 5780 while resistances are at about 5922 and 5977. Five likely +WWs give about 5903, 5913 (once above 5870), 5963 (once above 5875), 5980 (once above 5853) and 6016 (once above 5888) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). Two falling wedges can give 6060/6130 upon BO unless nifty goes down more.

Nifty fell again to close at a new low below 5900 and destined to fall 100-200 points more. However, a +ve div has developed on STS/CCI on daily chart and on RSI on lower TFs. Nifty needs to close above 5977 first to give some hope to bulls. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         PCR down at 0.98 and VIX up at 18.11. Pre-open data suggests a -ve nifty after a gap down open unless it remains above till 5849 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5849NF, TARGET 5823, SL 5879.

4.         Target of 9.30 strategy trade met.

5.         Nifty opened gap down and kept going down. It attempted a mild recovery in the afternoon but failed again. It thus made a lower high and low than those yesterday and also closed below yesterday's close and that too at a new low since 18/04. The target of 9.30 strategy trade was met.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-10/06/13

LEADER POST for Monday (10/06/13)

1.         Supports are at about 5869 and 5827 while resistances are at about 5915, 5929, 5973, 5993, 6032 and 6087. A number of likely +WWs give about 5942 (once above 5905), 5952 (once above 5881), 5961/94 (once above 5912), 5976 (once above 5862), 5990 (once above 5875) and 6008 (once above 5900) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). Two falling wedges can give 6060/6130 upon BO unless nifty goes down more. A bearish flag can give lower level unless killed above 5935.

Nifty fell again to close below 5900 and still looks bearish. However, the daily candle is an inverted hammer, a very likely reversal sign. Also, a +ve div has developed on STS/CCI on daily chart and on RSI on lower TFs. Nifty needs to close above 6032 and then 6087 to go up further. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         PCR flat at 0.99 and VIX flat at 17.35. Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5908 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5930NF, TARGET 5965, SL 5900.

4.         If SL is hit, sell above 5911NF, target 5875, SL 5941.

5.         SL hit. But be careful as VIX has shot up.

6.         Target of reverse trade met.

7.         Nifty opened up with a gap but started reacting immediately. It tried to recover late in the day but finally made a lower high and low than those on Friday before closing -ve and also below Friday's close. The SL of 9.30 strategy was hit and the target of reverse trade was met.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-07/06/13

LEADER POST for Friday (07/06/13)

1.         Supports are at about 5895, 5863, 5852 and 5825 while resistances are at about 5934, 5947, 5967, 5982, 6032 and 6087. Two likely +WWs give about 6001 and 6041 (+WWs with higher targets are not mentioned as of now). A likely -WW can give about 5882 (-WWs with lower targets are not mentioned presently). A rising wedge has broken down and can give about 5867 unless nifty reverses and goes up. A complex HnS can give about 5860 unless nifty reverses and goes up. Two falling wedges can give 6060/6130 upon BO unless nifty goes down again. A bullish flag can give higher level unless killed below 5900.

Nifty rose again a bit to close above 5900 but seems uncertain. However, the daily candle is a doji, a likely reversal sign. Also, a +ve div has developed on lower TFs. It now needs to close above 6032 and then 6087 to go up further. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         PCR up at 0.99 and VIX up at 17.35. Pre-open data suggests a +ve nifty after a small gap down open unless it remains below 5900 till afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5945NF, TARGET 5889, SL 5975.

4.         If SL is hit, buy below 5922NF, target 5978, SL 5892.

5.         SL hit.

6.         A new -ww can give 5929NS.

7.         Target of above -ww met.

8.         Target of -ww of the first post also met.

9.         SL of reverse trade also hit and target of original trade met but without getting chance of an entry.

10.       Nifty opened gap down and rose sharply to make a higher high. However, it then fell sharply too and just managed to make a higher low by about 2 points before closing -ve and also below yesterday's close. The targets of -ww of the first post as well as that of a -ww identified during the day were met. SLs of 9.30 strategy were hit on either side before giving target of original trade but without giving chance an entry. The daily candle is an inverted hammer.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-06/06/13

LEADER POST for Thursday (06/06/13)

1.         Supports are at about 5891 and 5866 while resistances are at about 5929, 5947, 5976, 6032 and 6087. Five likely +WWs give about 5986 (once above 5893), 5995 (once above 5907), 6001 (once above 5916), 6044 (once above 5896) and 6067(once above 5931) (+WWs with higher targets are not mentioned as of now). A likely -WW can give about 5905 (once below 5938) (-WWs with lower targets are not mentioned presently). A rising wedge has broken down and can give about 5867 unless nifty reverses and goes up. A complex HnS can give about 5860 unless nifty reverses and goes up. Two falling wedges can give 6060/6130 upon BO unless nifty goes down again. A small HnS can give about 5890 on BD unless killed above 5934.

Nifty rose a bit to close above 5900 but seems destined to fall more. However, the daily candle is a hammer, a likely reversal sign. It now needs to close above 6032 and 6087 to go up further. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         Pre-open data suggests a -ve nifty after a gap down open unless it remains above 5895 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5882NF, TARGET 5855, SL 5912.

4.         If SL is hit, buy below 5917NF, target 5944, SL 5887.

5.         SL hit. Buy also triggered.

6.         Targets of -WW and small HnS of the first post were met.

7.         Target of reverse trade also met.

8.         Nifty opened gap down and slid further to make a lower low. It then rose sharply to make a higher high before closing +ve but below yesterday's close. The targets of -WW and the small HnS of the first post were met. The SL of 9.30 strategy was hit and the target of the reverse trade was met. The daily candle is a Doji.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-05/06/13

LEADER POST for Wednesday (05/06/13)

1.         Supports are at about 5909, 5899, 5873 and 5860 while resistances are at about 5956, 5995, 6003, 6032 and 6088. A number of likely +WWs give about 5973 (once above 5939), 5988 (once above 5911), 5996 (once above 5923) 5984/6040 (once above 5903) and 6060/6083 (once above 5935) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). A rising wedge have broken down and can give about 5867 unless nifty reverses and goes up. A complex HnS can give about 5860 unless nifty reverses and goes up. A falling channel and a wedge can give 6060/6133 upon BO unless nifty goes down again.

Nifty fell once again to close below 5950 and seems destined to fall much more. However, the daily candle is an (imperfect) inverted hammer, a likely reversal sign. It now needs to close above 6032 and 6088 to go up further. VIX and PCR are still high and can cause sharp volatility. Only global cues and/or liquidity can save nifty from more severe fall.

2.         PCR flat at 0.98 and VIX down at 17.26. Pre-open data suggests a +ve nifty after a small gap down open unless it remains below 5908 till afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5910NF, TARGET 5876, SL 5940.

4.         If SL (5940) is hit, buy below 5930NF, target 5965, SL 5900.

5.         SL hit.

6.         Nifty opened down with a small gap and made a new low before rising again. It reacted again but could not make a lower low and then rose sharply to close +ve and also above yesterday's close. The SL of 9.30 strategy trade was hit but the target of reverse trade was not met. The daily candle is a hammer.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-04/06/13

LEADER POST for Tuesday (04/06/13)

1.         Supports are at about 5928, 5873 and 5840 while resistances are at about 5997, 6018, 6054, 6118 and 6145. Five likely +WWs give about 5965 (once above 5937), 6020 (once above 5968), 6037/6077 (once above 5904) and 6056 (once above 5965)(+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned presently). A rising wedge have broken down and can give about 5867 unless nifty reverses and goes up. A complex HnS can give 5867 unless nifty reverses and goes up. A falling channel can give 6060 upon BO unless nifty goes down again. A bearish flag gives lower level unless killed above 6015.

Nifty fell sharply again to close below 5950 and seems destined to fall much more. It now needs to close above 6015/60/6100 to go up further. VIX and PCR are still high and can cause sharp moves. Only global cues and/or liquidity can save nifty from more severe fall.

2.         PCR down at 0.98 and VIX up at 17.29. Pre-open data suggests a +ve nifty after a flattish open unless it remains below 5941 till afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5940NF, TARGET 5993, SL 5910.

4.         Target met without giving a chance of an entry.

5.         Nifty opened flat and rose about 40 point thereby hinting at a recovery but it was short lived as it fell again to make a lower low. Finally it closed -ve near the low of the day and also below yesterday's close. The target of 9.30 strategy was met but once again without giving chance of an entry. The daily candle is an imperfect inverted hammer.

The intraday chart of nifty spot values with 5 min candles is shown below.

Daily_Nifty_VP's View-03/06/13

LEADER POST for Monday (03/06/13)

1.         Supports are at about 5961, 5939, 5915 and 5865 while resistances are at about 5997, 6018, 6054, 6118 and 6145. Two likely +WWs give about 6073/6187 (once above 5908, which is yet to be reached) (+WWs with higher targets are not mentioned as of now). A likely -WWs give about 5930 (-WWs with lower targets are not mentioned presently). Two rising wedges have broken down and can give about 5936 unless nifty remains above 6145. A complex HnS can give 5936/5867 unless nifty reverses and goes above 6138/63. A bearish flag gives lower level unless killed above 6030.

Nifty fell sharply breaking below all support levels and has apparently turned very bearish. The daily candle is a big, bearish Marubuzo, the weekly candle is an inverted hammer cum gravestone doji while the monthly candle is an inverted hammer. All these are bearish signs. The only consolation on weekly chart is that the doji is not ideally placed to suggest extreme bearishness and that previous week's low wasn't broken in spite of similar volumes as last week. Also, VIX and PCR seem to be moderating. Only global cues and/or liquidity can save nifty from more severe fall.

2.         Pre-open data suggests a +ve nifty after a slight gap up open unless it remains below 5997 till afternoon.

3.         Chart data does not tally with odin data since odin shows a freak high of 6080NF.

4.         AS PER 9.30 STRATEGY, BASED ON ODIN DATA, BUY BELOW 5989NF, TARGET 6065, SL 5959.

5.         AS PER 9.30 STRATEGY, BASED ON CHART DATA, SELL ABOVE 6030NF, TARGET 5974, SL 6060.

6.         Target of 9.30 strategy based on chart data met without giving chance of an entry.

7.         SL of 9.30 strategy as per odin data hit. However, due to freak high value, target remains 5974 and SL 6082.

8.         Target of -ww and that of BD of first rising wedge and first HnS of the first post met.

9.         Nifty opened up with a small gap but quickly reacted and kept sliding down. It not only made a lower high and low than those on Friday but also a new low since 3rd May. The targets of -ww and BD of first rising wedge and first HnS of the first post were met. Also met was target of 9.30 strategy trade (based on chart data) but without giving chance of an entry.

The intraday chart of nifty spot values with 5 min candles is shown below.