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.
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