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.
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