Daily_Nifty_VP's View-30/09/13

LEADER POST for Monday (30/09/13)

1.         Supports are at about 5813 and 5590 while resistances are at about 5870 and 5990. 100 dma are at about 5813 while 50 wma is also at about 5820. The gap on lower side is at about 5680. Three +WWs can give about 5932/55/5988 (once above 5854) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 5810, 5788 and 5730 (-WWs with lower targets are not mentioned as of now). BO of two falling wedges can give about 6030/6130 if nifty remains above 5840.

Nifty fell again and closed below 5850 and below 200 dma for the first time since 29/7. Daily candle is a bearish Marubuzo while weekly candle is like an evening star. About 5800 is a break down level. 6130 is weekly resistance. Nifty should close above 6094 to gain further momentum. Oil price and/or INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. VIX is still high and can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests an uncertain to -ve nifty after a gap down open unless it remains above 5801 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5840NF, TARGET 5802, SL 5870.

4.         Targets of first two -WWs met.

5.         Target of 9.30 strategy also met.

6.         Target of third -ww also met.

7.         Nifty opened down with a gap and kept sliding till the end. It made a lower high and low than those on Friday before closing strongly -ve and strongly below Friday's close. Targets of all the three -WWs of the first post were met. Target of 9.30 strategy was also met. Daily candle is a bearish Marubuzo.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

 

Daily_Nifty_VP's View-27/09/13

LEADER POST for Friday (27/09/13)

1.         Supports are at about 5860, 5835 and 5810 while resistances are at about 5935 and 5995. 200/100 dma are at about 5841/5817 while 50 wma is also at about 5820. Three +WWs can give about 5947, 5954 and 6000 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 5844, 5806 and 5730 (-WWs with lower targets are not mentioned as of now). BO of two falling wedges can give about 6030/6130 if nifty remains above 5840.

Nifty closed flat but below 5900 again. Daily candle is an inverted hammer, a likely reversal sign. Also, weekly and monthly charts are still healthy. Thursday was a NR7 day and we may see a big move on Friday. A break below 5800 could mean much lower levels. Nifty should close above 6094 to gain further momentum. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. VIX is still high and can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests a -ve nifty after a small gap up open unless it remains above 5906 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5938NF, TARGET 5907, SL 5968.

4.         Target of 9.30 strategy met.

5.         Another -ww can give 5827NS.

6.         Target of first -ww of the first post met.

7.         Target of above mentioned -ww met.

8.         Today, entry was available twice for 9.30 strategy and both the times target was met.

9.         Nifty opened gap up but quickly started falling. It thus made a lower high and low than yesterday before closing strongly -ve and also below yesterday's close. Target of first -ww of the first post was met. Target of a -ww identified during the day was also met. In addition, target of 9.30 strategy was met twice after giving chance of an entry both the times. Daily candle is a bearish Marubuzo while weekly candle is like an evening star.

The week’s chart suggests that nifty is close to the breakdown level of 5800 unless it reverses sharply.

The intraday and week’s charts of nifty spot values with 5 min candles are shown below.

 

Daily_Nifty_VP's View-26/09/13

LEADER POST for Thursday (26/09/13)

1.         Supports are at about 5835 and 5810 while resistances are at about 5932, 5990 and 6010. 200/100 dma are at about 5841/5817 while 50 wma is also at about 5820. Three +WWs can give about 5926, 5944 and 5985 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 5856, 5806 and 5730 (-WWs with lower targets are not mentioned as of now). BO of two falling wedges can give about 6030/6130 if nifty remains above 5840.

Nifty fell after a gap up open and closed below 5900 again. However, the only hope is that it broke below 200/100 dma and 50 wma and recovered to close above them. Daily candle is like a hammer, a likely reversal sign. Also, weekly and monthly charts are still healthy. A break below 5800 could mean much lower levels. Nifty should close above 6094 to gain further momentum. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. VIX is still high and can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up. Thursday being the expiry day, trade carefully.

2.         Pre-open data suggests an uncertain nifty after a flat open as it is a doji, which is expected, today being an expiry day.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5887NF, TARGET 5850, SL 5917.

4.         If SL is hit, buy below 5900NF, target 5938, SL 5870.

5.         SL of 9.30 strategy hit.

6.         Nifty opened flat and fell a bit but made a higher low. It later rose to make a higher high. However, it fell again to close marginally +ve and also marginally above yesterday's close. The SL of 9.30 strategy was hit but target of reverse trade was not met since total range was only about 54. Daily candle is an inverted hammer. Thursday was also a NR7 day.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-25/09/13

LEADER POST for Wednesday (25/09/13)

1.         Supports are at about 5860 and 5825 while resistances are at about 5913, 5936 and 5990. 200/100 dma are at about 5841/5820 while 50 wma is also at about 5820. Five +WWs can give about 5904, 5941, 5954, 5965 and 5973 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 5806 and 5730 (-WWs with lower targets are not mentioned as of now). BO of two falling wedges can give about 6030/6130 if nifty remains above 5895.

Nifty rose after a gap down open but closed below 5900. Daily candle is like an inverted hammer. Also, weekly and monthly charts are still healthy. Tuesday was a NR4 day and we can expect a big move on Wednesday. A break below 5850 could be bad but below 5800 could be worse. 6223 is a weekly resistance. Nifty should close above 6094 to gain further momentum. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. VIX is still high and can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up. This being the expiry week, trade carefully.

2.         AS PER 9.30 STRATEGY, SELL ABOVE 5907NF, TARGET 5876, SL 5937.

3.         Target of first +ww met.

4.         Target of 9.30 strategy met.

5.         Nifty opened up with a small gap and started falling, making a lower low. It then rose but could not make a higher high, finally closing -ve and also slightly below yesterday's close. Target of first +ww of the first post was met while that of first -ww was narrowly missed. Target of 9.30 strategy was also met. Daily candle is hammer.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-24/09/13

LEADER POST for Tuesday (24/09/13)

1.         Supports are closely spaced at about 5857 and 5830 while resistances are at about 5990, 6035 and 6074. 200/100 dma are at about 5841/5820 while 50 wma is also at about 5820. Three +WWs can give about 5937 (once above 5882) and 6036/6159 (once above 5912) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 5806 and 5730 (-WWs with lower targets are not mentioned as of now). BO of two falling wedges can give about 6030/6130 if nifty remains above 5900.

Nifty fell in spite of a big gap down open and closed below 5900. Daily candle is like an inverted hammer. Also, weekly and monthly charts are still healthy. A break below 5857 could be bad but below 5800 could be worse. 6223 is a weekly resistance. Nifty should close above 6094 to gain further momentum. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. VIX is still high and can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         AS PER 9.30 STRATEGY, SELL ABOVE 5895NF, TARGET 5856, SL 5925.

3.         If SL is hit, buy below 5904NF, target 5944, SL 5874.

4.         SL hit.

5.         Target of first +ww met.

6.         Target of reverse trade met but without getting chance of an entry.

7.         Today was a NR 4 day.

8.         Nifty opened down with a gap to make a lower low. It then rose but could not make a higher high and reacted finally closing +ve but slightly above yesterday's close. The target of first +WW of the first post was met. However, SL of 9.30 strategy was hit and target of reverse trade was met without giving chance of an entry. Daily candle is like an inverted hammer. Tuesday was a NR 4 day.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-23/09/13

LEADER POST for Monday (23/09/13)

1.         Supports are closely spaced at about 5980, 5949, 5885, 5860 and 5815 while resistances are at about 6107 and 6190. A gap on lower side is at 5899. Two +WWs can give about 6164/6202 (once above 6077) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 5983, 5966 and 5836 (-WWs with lower targets are not mentioned as of now).

Nifty rose fell sharply and closed just above 6000. Daily candle is like a hanging man while weekly candle is like a doji showing likely uncertainty or reversal. A break below 5930 could be bad but below 5850 could be worse. 6223 is a weekly resistance. Nifty should close above 6094 to gain further momentum. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. VIX is still high and can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests a +ve nifty after a gap down open unless it remains below 5945 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5986NF, TARGET 6028, SL 5956.

4.         SL hit.

5.         Since SL is hit, sell above 5982NF, target 5939, SL 6012.

6.         Target of reverse trade met but without giving chance of an entry.

7.         Targets of first two -WWs met in open itself.

8.         The gap at 5899 was filled.

9.         Nifty opened down with a big gap, rose a bit and started reacting. It made a lower high and low than those on Friday before closing -ve and strongly below Friday's close. Targets of first two -WWs of the first post were met. Also, the gap created on 18-19/9 was filled. SL of 9.30 strategy was hit and the target of reverse trade was met but without giving chance of an entry.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-20/09/13

LEADER POST for Friday (20/09/13)

1.         Supports are closely spaced at about 6104, 6062, 6031, 5976 and 5938 while resistances are at about 6173 and 6213. A gap on lower side is at 5899. Three +WWs can give about 6216, 6326 and 6481 (+WWs with higher targets are not mentioned as of now). A -WW can give about 5800 (once below 6000) (-WWs with lower targets are not mentioned as of now). Two rising channels' BD can give about 6040/5560 if nifty goes down and remains below 6092/5912.

Nifty rose sharply in spite of a huge gap up open and closed above 6100. A break below 5976 could be bad. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. Friday's RBI policy review may also mean a volatile market. VIX is still high and can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests a flat to mildly -ve nifty after a slight gap down open unless it remains above 6105 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 6120NF, TARGET 6084, SL 6150.

4.         If SL is hit, buy below 6139NF, target 6176, SL 6109.

5.         SL hit.

6.         SL of reverse trade also hit.

7.         Target of original trade met without getting chance of an entry.

8.         Target of BD of a rising channel of the first post met.

9.         Nifty opened down with a slight gap and rose a bit but could not make a higher high. But later, after the RBI policy, it tanked making a lower low before closing strongly +ve and also strongly below yesterday's close. On a weekly basis, however, it closed strongly +ve. The target of BD of a rising channel of the first post was met. However, SL of 9.30 strategy was hit and then SL of reverse trade was also hit before giving target of original trade but without giving chance of an entry. The weekly candle is like a doji.

The week’s chart suggests that further rise is possible unless 5850 is broken.

The intraday and week’s charts of nifty spot values with 5 min candles are shown below.

 

Daily_Nifty_VP's View-19/09/13

LEADER POST for Thursday (19/09/13)

1.         Supports are closely spaced at about 5879, 5857, 5832, 5808 and 5745 while resistances are at about 5943, 5986, 6002 and 6074. 200/100 dma are at about 5840/5818 and 50 wma is at about 5814 while a gap on lower side is at 5680. Three +WWs can give about 5947, 5975 and 5999 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 5850 (once below 5881) and 5770 (once below 5877) (-WWs with lower targets are not mentioned as of now). A rising wedge BD can give about 5580 if nifty goes down again. An AT seems to have broken out with a likely target of 5945. A horizontal channel can give about 6050 after a BO above 5945 or 5700 after a BD below 5810.

Nifty rose again but closed just below 5900 and above 100/200 dma and 50 wma for the sixth time in a row. Daily candle is again an Inside Bar to the mother candle of 16/9 and also a doji. A close below 5795 could be bad but a close below 5730 could be very bad. Weekly resistance is at about 5989. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. Wednesday night's FOMC meet will show its effect when our market opens. RBI policy review on Friday may also mean nervous and/or volatile markets this week. High VIX can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests a +ve nifty after a huge gap up open unless it remains below 6044 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 6066NF, TARGET 6132, SL 6036.

4.         Targets of all the three +WWs and those of BO of AT and horizontal channel of the first post met at the open itself.

5.         Target of 9.30 strategy was met after 1 pm but without getting chance of an entry.

6.         Nifty opened up with a huge gap and went up further before reacting a bit. It started rising again after 11 am and didn't look back. It crossed above the high of 23/7 and made a new high since 22/5 before closing strongly +ve and also far above yesterday's close. The targets of all the three +WWs and those of BO of AT and horizontal channel were met upon open itself. Also met was target of 9.30 strategy but without getting chance of an entry.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-18/09/13

LEADER POST for Wednesday (18/09/13)

1.         Supports are at about 5835, 5818, 5804 and 5745 while resistances are at about 5880, 5942 and 5985. 200/100 dma are at about 5840/5818 and 50wma is at about 5813 while a gap on lower side is at 5680. Five +WWs can give about 5891, 5897, 5920/42 and 5970 (+WWs with higher targets are not mentioned as of now). A -WW can give about 5804 (-WWs with lower targets are not mentioned as of now). A rising wedge BD can give about 5580 if nifty goes down again. A horizontal channel can give about 6050 after a BO above 5945 or 5700 after a BD below 5810.

Nifty rose from low levels to close above 5850 and above 100/200 dma for the fifth time in a row after crossing below 200 dma. It also broke below 50 wma and bounced back. Daily candle is an Inside Bar and mildly bullish piercing. Also, Tuesday was a NR7 (actually NR37) day and hence we may see a big move soon. A close below 5795 could be bad but a close below 5730 could be very bad. Weekly resistance is at about 5989. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. This week's FOMC meet and RBI policy review may mean nervous and/or volatile markets. High VIX can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5872 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5878NF, TARGET 5846, SL 5908.

4.         If SL is hit, buy below 5901NF, target 5934, SL 5871.

5.         SL hit.

6.         Targets of first two +WWs met.

7.         Target of reverse trade met without getting chance of an entry.

8.         Nifty opened up with a small gap but quickly reacted to fill the gap. However, it then started rising and picked up speed in last hour to make a higher high and low than yesterday before closing +ve and also above yesterday's close. The targets of first two +WWs of the first post were met. The SL of 9.30 strategy was hit and the target of reverse trade was met without giving chance of an entry. Daily candle is another inside bar to the mother candle of 16/9 and also a doji.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-17/09/13

LEADER POST for Tuesday (17/09/13)

1.         Supports are at about 5818, 5790 and 5745 while resistances are at about 5870, 5900 and 5945. 200/100 dma are at about 5840/5818 while 50wma is also at 5814 while a gap on lower side is at 5680. Five +WWs can give about 5883, 5900/16/30 and 5956 (once above 5802) (+WWs with higher targets are not mentioned as of now). Two -WW can give about 5745/30 (-WWs with lower targets are not mentioned as of now). A rising wedge BD can give about 5580 and a rising channel BD can about 5320 in case nifty continues to slide. A HnS can give about 5780 (and lower levels) if nifty remains below 5888. A horizontal channel can give about 6050 after a BO above 5945 or 5700 after a BD below 5810.

Nifty fell to close below 5850 but at/above 100/200 dma for the fourth time in a row after crossing below 200 dma. It also broke below 50 wma and bounced back. Daily candle is bearish engulfing but weekly chart is still bullish. A close below 5795 could be bad but a close below 5730 could be very bad. Weekly resistance is at about 5989. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. This week's FOMC meet and RBI policy review may mean nervous and/or range bound markets. High VIX can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests a +ve nifty after a small gap down open unless it remains below 5824 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5844NF, TARGET 5806, SL 5874.

4.         If SL is hit, buy below 5855NF, target 5894, SL 5825.

5.         SL triggered.

6.         Nifty opened down with a small gap and remained within a range before rising a bit later in the day. It made a lower high and higher low than yesterday before closing +ve and also above yesterday's close. SL of 9.30 strategy was hit but target of reverse trade was not met. Daily candle is an inside bar and mildly bullish piercing. Today was also a NR7 day.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-16/09/13

LEADER POST for Monday (16/09/13)

1.         Supports are at about 5805 and 5740 while resistances are at about 5921, 5940, 5968 and 5981. 200/100 dma are at about 5840/5819 while 50wma is also at 5811. Four +WWs can give about 5921, 5940, 5968 and 5981 (once above 5802) (+WWs with higher targets are not mentioned as of now). A -WW can give about 5795 (-WWs with lower targets are not mentioned as of now). A rising wedge BD can give about 5580 and a rising channel BD can about 5320 in case nifty remains below 5880. A falling channel BO can give about 5930 if nifty remains above 5861. A HnS can give about 5780 (and lower levels) if nifty remains below 5888.

          Nifty managed to close just above 5850 again and above 100/200 dma. For the third time it crossed below 200 dma before bouncing up. It also broke below 50 wma and bounced back. Friday was a NR 7 (actually NR26) day. Daily candle is an Inside Bar, a likely sign of reversal. For reversal to be confirmed, nifty must close at a higher high. Break of 5795 could be bad but break of 5730 could be very bad. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. Additional tension due to likelihood of a US attack on Syria hasn't gone away. Next week's FOMC meet and RBI policy review may mean nervous and range bound markets. High VIX can cause sharp swings. Only global/local cues and/or liquidity can take nifty further up.

 

2.         Pre-open data suggests a +ve nifty after a big gap up open unless it remains below 5930 by afternoon.

3.         Chart data not same as odin data. Also, first 5tf candle is a doji. Hence be careful.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5952NF, TARGET 6021, SL 5922.

5.         If one goes by chart data, it's sell above 5968NF, target 5931, SL 5998.

6.         Trade as per chart data gave its target.

7.         SL hit.

8.         Targets of first two +WWs and that of BO of falling channel of the first post were met at open itself.

9.         Today's gap filled up.

10.       Target of -ww missed by just 3 and hence considered met.

11.       Nifty opened up with a big gap to make a higher high and started reacting slowly. However, it tanked after announcement of inflation numbers to make a lower low than that on Friday. It then rose a bit to close strongly -ve and slightly below Friday's low. For the fourth time in a row, it managed to bounce back from below 200 dma to close at that level again. Because of wild intraday swings, targets of first two +WWs and -ww as well as that of BO of falling channel of the first post were met. The SL of 9.30 strategy was hit and target of reverse trade was met without giving chance of an entry. Daily candle is bearish engulfing.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-13/09/13

LEADER POST for Friday (13/09/13)

1.         Support is at about 5800 while resistances are at about 5867, 5935 and 5985. 200/100 dma are at about 5836/5814 while 50wma is also at 5814. The nearest gap on lower side is at 5680. Four +WWs can give about 5887 (once above 5842), 5913 (once above 5809), 5914 (once above 5845) and 5923 (once above 5802) (+WWs with higher targets are not mentioned as of now). A -WW can give about 5799 (-WWs with lower targets are not mentioned as of now). A rising wedge BD can give about 5580 and a rising channel BD can about 5320 in case nifty remains below 5880. A falling channel BO can give about 5930 if nifty remains above 5861. A HnS can give about 5780 (and lower levels) if nifty remains below 5888.

       
           Nifty reacted sharply but managed to close just above 5850 and abo...ve 100/200 dma. It thus confirmed bearishness of Wednesday's hanging man. It once again crossed below 200 dma before bouncing up. However, further fall is likely as daily candle is bearish engulfing. Nifty will have to close well above 5797 to avoid an inverted hammer on weekly chart. Break of 5795 could be bad but break of 5730 could be very bad. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. Additional tension due to likelihood of a US attack on Syria seems to be going away for the moment. High VIX can cause sharp swings. Only global cues and/or liquidity can take nifty further up.

2.         Pre-open data suggests an uncertain to -ve nifty after a small gap down open unless it remains above 5829 by afternoon.

3.         Pre-open candle was like a doji and hence choppiness may be seen.

4.         Once again, target met before 9.30.

5.         AS PER 9.30 STRATEGY, BUY BELOW 5812NF, TARGET 5879, SL 5782.

6.         Nifty opened down with a small gap and tried to rise but failed. It didn't react much either and thus made a lower high and a higher low than yesterday before closing +ve but flat w.r.t. yesterday's close (though nifty fut closed above yesterday's close). Target of 9.30 strategy was met before 9.30 again i.e. without giving chance of an entry. Daily candle is an imperfect Inside Bar and an imperfect inverted hammer. Also, Friday was not just a NR7 day but a NR26 day.

The week’s chart shows likelihood of a range bound market next week pending important news to come from FOMC and US Fed.

The intraday and week’s chart of nifty spot values with 5 min candles are shown below.

 

Daily_Nifty_VP's View-12/09/13

LEADER POST for Thursday (12/09/13)

1.         Supports are at about 5865, 5830 and 5810 while resistances are at about 5935 and 5985. 200/100 dma are at about 5836/5814 while 50wma is also at 5814. The nearest gap on lower side is at 5680. A +WW can give about 5985 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 5883, 5806 and 5720 (once below 5873) (-WWs with lower targets are not mentioned as of now). A rising wedge BD can give about 5580 and a rising channel BD can about 5320 in case nifty remains below 5830.

Nifty at last closed above 5900 and above 100/200 dma. It crossed just below 200 dma before bouncing up. But it seems to be tiring out. Hence, a reaction is likely. Also, daily candle is a hanging man, a likely reversal sign. Nifty will have to close above 5914 with a green candle to defeat it. Break of 5815 could be bad but break of 5730 could be very bad. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. Additional tension due to likelihood of a US attack on Syria seems to be going away for the moment. High VIX can cause sharp swings. Only global cues and/or liquidity can take nifty further up.

2.         AS PER 9.30 STRATEGY, SELL ABOVE 5977NF, TARGET 5909, SL 6007.

3.         Target met before 9.30 again i.e. without giving chance of an entry.

4.         Target of first -ww met.

5.         Nifty opened up with a small gap but quickly reacted and didn't stop throughout the day. It thus made a higher high and a lower low than yesterday before closing -ve and also below yesterday's close. The target of first -ww of the first post was met while that of second -ww was just missed. The target of 9.30 strategy was met before 9.30 without getting chance of an entry. The daily candle is bearish engulfing.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-11/09/13

LEADER POST for Wednesday (11/09/13)

1.         Supports are at about 5860, 5840, 5810 and 5730 while resistances are at about 5940, 5985 and 6002. 200/100 dma are at about 5836/5814 while the nearest gap on lower side is at 5680. A +WW can give about 5980 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 5860 (once below 5895), 5812 (once below 5860) and 5700 (once below 5810) (-WWs with lower targets are not mentioned as of now). A rising wedge BD can give about 5580 in case nifty remains below 5875.

Nifty rose sharply once again in spite of a big gap up open and closed just below 5900 but above 100/200 dma. Hence, higher levels look very likely. Break of 5740 could be bad but break of 5614 could be very bad. Oil price and INR can play spoilsport any time and will remain key to the future of Indian markets in short to medium term. Additional tension is the likelihood of a US attack on Syria. High VIX can cause sharp swings. Only global cues and/or liquidity can take nifty further up.

2.         AS PER 9.30 STRATEGY, SELL ABOVE 5889NF, TARGET 5845, SL 5919.

3.         SL hit. Now buy below 5888NF, target 5933, SL 5858.

4.         Target of reverse trade met without getting chance of an entry.

5.         Target of first -ww of the first post was met soon after open.

6.         Though buying chance came for reverse trade, its SL was also hit.

7.         SL has now been hit four times today.

8.         Nifty opened down with a slight gap and quickly made a higher high. However, it reacted immediately to make a lower intraday low but a higher low than yesterday. It rose sharply again to make a higher intraday high before closing +ve and also above yesterday's close. Target of first -ww of the first post was met. However, SLs of 9.30 strategy were hit on either side four times. Also, target of reverse trade was met twice but without giving a chance of an entry. The daily candle is a hanging man.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-10/09/13

LEADER POST for Tuesday (10/09/13)

1.         Supports are at about 5655, 5625 and 5585 while resistances are at about 5715 and 5800. 50 dma is at about 5704 while 100/200 dma and 50 wma are close together within 5807-5836 . A +WW can give about 5848 (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 5658 (once below 5685) and 5644 (once below 5738, which is yet to be reached) (-WWs with lower targets are not mentioned as of now). A bullish flag can give much higher level unless killed below 5300.

Nifty rose in spite of a gap up open and closed just short of 5700. It thus added to the hopes of the bulls again by closing at a new recent high. However, daily candle is like an imperfect hanging man and nifty will have to close higher to negate it. Yearly weighted average is about 5780 and strong resistance zone exists nearby. Oil price and INR continue to play spoilsport and will remain key to the future of Indian markets in short to medium term. Additional tension is the likelihood of a US attack on Syria. High VIX can cause sharp swings. Only global cues and/or liquidity can take nifty further up.

2.         AS PER 9.30 STRATEGY, BUY BELOW 5750NF, TARGET 5816, SL 5720.

3.         Target met before 9.30 itself i.e. without getting chance of an entry.

4.         Target of +ww considered met.

5.         Target of bullish flag of the first post was also met.

6.         Nifty once again opened up with a big gap and kept rising. It made a new high since 26/7 and a higher low before strongly +ve and also above Friday's close. Targets of +ww and bullish flag of the first post were met. Also, target of 9.30 strategy was met before 9.30 and chance of an entry never came later too. Daily candle is a big, bullish Marubuzo.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-06/09/13

LEADER POST for Friday (06/09/13)

1.         Supports are at about 5550, 5520 and 5495 while resistances are at about 5619, 5640, 5660 and 5710. 50 dma is at about 5703. A +WW can give about 5612 (+WWs with higher targets are not mentioned as of now). A -WW can give about 5551 (once below 5607) (-WWs with lower targets are not mentioned as of now). A bullish flag can give much higher level unless killed below 5300. A horizontal channel can give about 5640 if the BO above 5605 sustains or can give about 5520 if a BD below 5555 sustains.

Nifty rose in spite of a huge gap up open and gve hopes to bulls again by closing above Tuesday's intraday high. However, daily candle is an evening star, a likely reversal sign and nifty will have to close above 5593 to defeat it. Otherwise, it will have to close at least above 5484 to give a weekly close above 100/200 wma. If 5400 is breached lower levels are likely. A close above 5640 can take it to 5760 and beyond. Oil price and INR continue to play spoilsport and will remain key to the future of Indian markets in the short to medium term. Additional tension is the likelihood of a US attack on Syria. High VIX can cause sharp swings. Only global cues and/or liquidity can take save nifty.

2.         Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5617 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5624NF, TARGET 5579, SL 5654.

4.         Target of +ww met.

5.         SL is hit. Now buy below 5617NF, target 5663, SL 5587.

6.         Target of reverse trade met without giving chance of an entry.

7.         Nifty opened up with a gap and reacted initially. However, it rose and didn't look back, making a higher high and low than those yesterday before closing strongly +ve and also strongly above yesterday's close. Target of +ww of the first post was met in the open itself. However SL of 9.30 strategy was hit and target of reverse trade was met without getting chance of an entry. Daily candle is like an imperfect hanging man.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-05/09/13

LEADER POST for Thursday (05/09/13)

1.         Supports are at about 5418 and 5380 while resistances are at about 5485, 5525 and 5660. 100 wma is at about 5483. Two +WWs can give about 5520 and 5539 (once above 5442) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 5391 (once below 5431), 5357 (once below 5474), 5315 and 5280 (-WWs with lower targets are not mentioned as of now). A rising wedge and a rising channel BD can give 5305/5125 if nifty goes down further. A bullish flag can give about 5500 unless killed below 5370.

Nifty rose again to close just below 5450 and 200 wma. If 5250 is breached 5120 and lower levels are likely. A break above 5600 can take it to 5750. +ve div remains on daily chart. Oil price and INR continue to play spoilsport and will remain key to the future of Indian markets in the short to medium term. Additional tension is the likelihood of a US attack on Syria. High VIX can cause sharp swings. Only global cues and/or liquidity can take save nifty.

2.         Pre-open data suggests a +ve nifty after big gap up open unless it remains below 5553 by afternoon.

3.         Target met well before 9.30.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5493NF, TARGET 5593, SL 5463.

5.         Targets of both the +WWs and bullish flag of the first post met.

6.         Nifty opened up with a big gap, made a higher high and low than yesterday before closing +ve and also above yesterday's close. However, while morning high was not broken, low was broken. The targets of both +WWs and bullish flag of the first post were met due to gap up open. Also, target of 9.30 strategy was met before 9.30 i.e. without giving chance of an entry.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-04/09/13

LEADER POST for Wednesday (04/09/13)

1.         Supports are at about 5293 and 5240 while resistances are at about 5370, 5392, 5425 and 5497. Four +WWs can give about 5397 (once above 5363), 5421 (once above 5395), 5476 (once above 5442) and 5526 (once above 5470) (+WWs with higher targets are not mentioned as of now). A -WWs can give about 5197 (-WWs with lower targets are not mentioned as of now). A rising wedge and a rising channel BD can give 5305/5125 if nifty goes down further.

Nifty tanked and close below 5350, killing any hopes that bulls had in the last few days. If 5250 is breached 5120 and lower levels are likely. Oil price and INR continue to play spoilsport and will remain key to the future of Indian markets in the short to medium term. Additional tension is the likelihood of a US attack on Syria. High VIX can cause sharp swings. Only global cues and/or liquidity can take save nifty.

2.         Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5358 by afternoon.

3.         Target met before 9.30 once again.

4.         AS PER 9.30 STRATEGY, BUY BELOW 5311NF, TARGET 5378, SL 5281.

5.         Targets of first two +WWs of the first post met.

6.         Nifty opened up with a small gap (though nifty fut opened down with a small gap) and kept rising. It did react midway but couldn't sustain and rose again. It thus made a lower high and low than yesterday before closing strongly +ve and also strongly above yesterday's close. The targets of first two +WWs of the first post were met as also the target of 9.30 strategy but without giving chance of an entry. Daily candle of nifty fut is bullish piercing though not of nifty spot.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-03/09/13

LEADER POST for Tuesday (03/09/13)

1.         Supports are at about 5545, 5515 and 5420 while resistances are at about 5572, 5602, 5628 and 5680. Three +WWs can give about 5595, 5630 and 5692 (+WWs with higher targets are not mentioned as of now). A -WWs can give about 5452 (once below 5524) (-WWs with lower targets are not mentioned as of now). A rising wedge and a rising channel BD can give 5305/5125 if nifty goes and remains below 5405.

Nifty rose strongly again and closed just above 5550, giving more hopes to the bulls. It also closed above 100 wma. Also, +ve div persists upto weekly chart and thus gives hopes of a further recovery. If nifty goes below 5480, it may fall further. Oil price and INR continue to play spoilsport and will remain key to the future of Indian markets in the short to medium term. Additional tension is the likelihood of a US attack on Syria. High VIX can cause sharp swings. Only global cues and/or liquidity can take nifty further up.

2.         PCR up at 1.24 and VIX down at 27.55. Pre-open data suggests a +ve nifty after a small gap up open unless it remains below 5574 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5554NF, TARGET 5513, SL 5584.

4.         Target met without getting chance of an entry.

5.         Target of -ww of the first post met.

6.         Nifty opened gap up but that was the end. It started falling and kept falling to make a higher high and lower low than yesterday before closing strongly -ve and also strongly below yesterday's close. The target of -WW of the first post was met as also that of 9.30 strategy but without giving chance of an entry. The daily candle is huge, bearish engulfing.

The intraday chart of nifty spot values with 5 min candles is shown below.

 

Daily_Nifty_VP's View-02/09/13

LEADER POST for Monday (02/09/13)

1.         Supports are at about 5440 and 5370 while resistances are at about 5500, 5540 and 5640. Four +WWs can give about 5515, 5565, 5590 and 5625 (+WWs with higher targets are not mentioned as of now). A -WWs can give about 5352 (once below 5442) (-WWs with lower targets are not mentioned as of now). A falling wedge BO can give about 5520 if nifty remains above 5300. A rising wedge and a rising channel BD can give 5305/5125 if nifty remains below 5405.

Nifty rallied strongly again and closed well above 5450, giving some hopes to the bulls. It also closed above 200 wma and just below 100 wma. Also, +ve div persists upto weekly chart and thus gives hopes of a further recovery. Consecutive hammers on weekly charts, a very rare sign, also show strong reversal is likely. Oil price and INR continue to play spoilsport and will remain key to the future of Indian markets in the short to medium term. Additional tension is the likelihood of a US attack on Syria. High VIX can cause sharp swings. Only global cues and/or liquidity can take nifty further up.

2.         PCR up at 1.22 and VIX down at 27.81. Pre-open data suggests an uncertain to +ve nifty after a slight gap up open unless it remains below 5480 by afternoon.

3.         AS 9.30 STRATEGY, BUY BELOW 5443NF, TARGET 5505, SL 5413.

4.         Target met before 9.30 itself.

5.         Target of first +WW of the first post met.

6.         Target of second +WW met.

7.         Target of BO of falling wedge of the first post was also met.

8.         Nifty opened up with a slight gap and just kept going up, albeit with minor but insignificant corrections. It made a higher high and low than those on Friday before closing +ve and also above Friday's close. The targets of first two +WWs and that of BO of falling wedge of the first post were met. Also met was target of 9.30 strategy but before 9.30 itself and without giving chance of an entry.

The intraday chart of nifty spot values with 5 min candles is shown below.