1. Supports are at about 5749, 5690 and
5645 while resistances are at about 5808, 5826 and 5870. The unfilled gap on
the lower side is at about 5682. Three +WWs give about 5888 (once above 5845),
5894 (once above 5825) and 5943 (once above 5837) (+WWs with higher targets are
not mentioned as of now). Two -WWs give about 5668 (once below 5721) and 5615
(once below 5827) (-WWs with lower targets are not mentioned presently). A
weekly bearish flag gets killed above 6012. A daily bullish flag gets killed
below 5700.
Nifty fell even after a gap down open and closed below 5800 and also below
200sma and is clearly bearish. The weekly chart still shows +ve divergence.
Bulls have hope only if about 5740 is held. A weekly close below 50 sma, which
is presently at about 5747 can cause further fall. Oil price and INR will
remain key to the future of the market. VIX and PCR are still high and can
cause sharp volatility. Only global cues and/or liquidity can take nifty
further up.
2. If about 5740 is held, likely higher levels
in next few days are 5822, 5865, 5919, 6016 and 6080. If about 5740 is broken
convincingly, likely lower levels are 5720, 5659 and 5608.
3. PCR down at 1.09 and VIX up at 18.91.
Pre-open suggests a +ve nifty after a small gap up open unless it remains below
5794 by afternoon.
4. AS PER 9.30 STRATEGY, BUY BELOW 5797NF,
TARGET 5837, SL 5767.
5. Target achieved.
6. Buy triggered again.
7. Target met again.
8. Nifty opened up with a gap and rose
sharply to make a higher high. However, it then fell sharply but managed to
make a higher low before recovering and closing +ve and also above yesterday's
close. The target of 9.30 strategy was met twice after chance of an entry came
twice.
The intraday
chart of nifty spot values with 5 min candles is shown below.
No comments:
Post a Comment