LEADER POST for
Monday (28/10/13)
1. Supports are at about 6125 and 6084
while resistances are at about 616 and 6278. Four +WWs can give about
6180/6187/6192 (once above 6130) and 6246 (+WWs with higher targets are not
mentioned as of now). Two -WWs can give about 6032 and 5991 (-WWs with lower
targets are not mentioned as of now). Break down of few rising wedges/channels
can give about 6030/5880/ 5825/5700 if nifty remains below 6171. Two falling
wedges can give 6220/6250 in case of a break out above 6161.
Nifty closed below 6200 again and is at a crucial stage. A -ve div is seen
on daily and weekly charts. The daily candle is a doji showing uncertainty.
However, a +ve div has appeared on lower tf. If nifty takes out 6280, it may
head towards an all time high. If it closes below 6030, it may fall much more.
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 moderately high
and can cause sharp swings. Only global/local cues and/or liquidity can take
nifty further up. Trade carefully, this being expiry week.
2. Pre-open data suggests a +ve nifty
after a slight gap up open unless it remains below 6155 by afternoon.
3. AS PER 9.30 STRATEGY, SELL ABOVE
6152NF, TARGET 6123, SL 6182.
4. Target met.
5. Nifty opened up with a small gap but
reacted soon and kept going down till EOD. 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 was met.
The intraday chart
of nifty spot values with 5 min candles is shown below.
No comments:
Post a Comment