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.
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