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.
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