Daily_Nifty_VP's View-04/12/12

LEADER POST for Tuesday (04/12/12)

1.         Supports are at about 5851 and 5757 while resistance is at about 5913. The next important level is 5945. (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5837, 5827 and 5814 (other -WWs with lower targets are not mentioned presently). A rising wedge seems to have broken down and can give about 5630.

Nifty once again made a new high but could not close at one. The daily candle is a spinning top while the daily candle of nifty fut is an imperfect evening doji star and both signs are bearish. Only a gap up opening with a +ve closing will defeat it. Both daily and weekly charts still show -ve divergence. If nifty closes below 5827, it may be worrisome. I feel it may react a bit to consolidate and will be a "buy on dips" story. Much higher levels are expected.

2.         PCR at 1.10 and VIX at 15.62. Pre-open high/low at 5870.95/5859NS and close at 5866.80. This may indicate a flat nifty after a slight gap down open.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5880NF, TARGET 5856/43, SL 5910.

4.         If SL is hit, BUY BELOW 5921NF, TARGET 5945/57, SL 5891.

5.         Nifty opened down with slight gap but made a higher low and a lower high than those yesterday before closing +ve and also above yesterday's close. The SL of 9.30 strategy trade was hit but the target of reverse trade was not met. The total range was only about 35. Today's candle is an Inside Bar.

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

 

Daily_Nifty_VP's View-03/12/12

LEADER POST for Monday (03/12/12)

1.         Supports are at about 5860, 5827 and 5726 while resistances are at about 5890, 5935 and 5950. (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5833 (once below 5861), 5851 and 5845 (other -WWs with lower targets are not mentioned presently). A rising wedge BD can give about 5630.

Nifty once again closed at a new high and the daily candle is again a Marubuzo, thereby forming three white soldiers, indicating a strong bullish sentiment. However, -ve div is seen on both daily and weekly charts and the nifty fut daily candle is not a Marubuzo thereby forming a possible Advance Block (Platter) pattern, indicating that bulls may be tiring out. If nifty closes below 5827, it may be worrisome. I feel it may react a bit to consolidate and will be a "buy on dips" story. Much higher levels are expected.

2.         BUY below 5926 NF TARGET 5959 SL 5896.

3.         If SL is hit, SELL above 5905 NF Target 5871 SL 5935.

4.         (post by LLK) With low of 5892, SL having hit, sell is being attempted.

5.         Nifty opened up with a mild gap, made a new high (higher high and low) but then reacted to close mildly -ve and also below Friday's close. However, nifty fut closed slightly above yesterday's close. The SL of 9.30 strategy was hit but the target of reverse trade was not met. The total range was about 45. The daily candle is a spinning top. The daily candle of NF is also an imperfect evening doji star.

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

 

Daily_Nifty_VP's View-30/11/12

LEADER POST for Friday (30/11/12)

1.         Supports are at about 5795, 5690 and 5660 while resistance is at about 5850. (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5780 (once below 5810), 5765 and 5740 (other -WWs with lower targets are not mentioned presently). A bullish flag gives much higher level unless killed below 5625.

Nifty closed above 5800 and the daily candle is also a Marubuzo, indicating a strong bullish sentiment. However, -ve div is seen on both daily and weekly charts. If nifty goes below 5757, it will be worrisome while a close below 5690 may be bad. I feel it may react a bit to consolidate and will be ideal for a "buy on dips" situation. Much higher targets are expected. Tomorrow's candle is important as it will be a daily, weekly and monthly candle.

2.         AS PER 9.30 STRATEGY, BUY BELOW 5908NF, TARGET 5935, SL 5878.

3.         SL hit. Sell above 5878NF target 5847/39 SL 5908. But wait to see whether 5tf closes below 5878. It did not in this candle.

4.         SL hit.

5.         SL (of reverse trade) hit again.

6.         Nifty opened up with a gap and went down a bit but failed to fill the gap and then took off to make a higher high and low than that yesterday to close +ve and also above yesterday's low. The SL of 9.30 strategy trade was hit as also the SL of reverse trade. However, neither side target was met. The daily candle is once again a Marubuzo thereby forming three white soldiers. However, the nifty fut candle is NOT a Marubuzo thereby indicating a possible Advance Block pattern, which indicates a likely reversal.

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

 

Daily_Nifty_VP's View-29/11/12

LEADER POST for Thursday (29/11/12)

1.         Supports are at about 5709/06, 5663 and 5630 while resistances are at about 5731/35, and 5745/50. A likely +WW gives about 5776 (+WWs with higher targets are not mentioned as of now) while two likely -WWs give about 5696 (once below 5716) and 5610 (once below 5755, which is not reached yet) (other -WWs with lower targets are not mentioned presently). The break out of a falling channel mentioned some days ago seems to be giving its target of 5751/5776. A bullish flag gives much higher level unless killed below 5655.

Nifty closed above 5700 and the daily candle is also a Marubuzo, indicating a strong bullish sentiment. But it also faced resistance below 5740 and closed below 5730. A close below 5650 once again and particularly below 5600 may take it down further to as low as 5400. Nifty now needs to close above 5788 and also cross 5815 to continue its bullish trend.

2.         PCR up at 1.17 which is not good for bulls but VIX down at 13.96.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5739NF, TARGET 5778/5813, SL 5709.

4.         Target (5776) of falling channel BO, +ww and bullish flag met.

5.         First 9.30 strategy target met without giving an entry.

6.         Nifty opened up with a gap and never looked back. It bulldozed past all resistance to make a new 19 month high and also close at a new 19 month high. In the process, targets of the +ww, falling channel, bullish flag and the 9.30 strategy trade were met. The daily candle is once again a Marubuzo.

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

 

Daily_Nifty_VP's View-27/11/12

LEADER POST for Tuesday (27/11/12)

1.         Supports are at about 5631, 5626, 5614 and 5609 while resistances are at about 5634, 5643 and 5658. Three likely +WWs give about 5656, 5669 and 5684 (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5616 (once below 5653, which is not reached yet), 5605 and 5585 (once below 5659) (other -WWs with lower targets are not mentioned presently). A bullish flag gives higher level unless killed below 5613.

Nifty closed above 5630 once again. What's more, it made a higher high and low than those on Friday. But, the daily candle is an imperfect hanging man, which is a bearish sign and hence trade carefully, particularly because this is an expiry week. A close below 5600 once again and particularly below 5550 may take it down further to as low as 5400. Nifty now needs to close above 5667 to maintain a bullish tone.

2.         Pre-open high/low at 5659.85/5617.45 and close at 5658.50. This may indicate a +ve nifty after a gap up open.

3.         Note that 5657.65NF was last week's high. A open above that will please the bulls.

4.         Target of first two +WWs and bullish flag met.

5.         AS PER 9.30 STRATEGY, BUY BELOW 5654NF, TARGET 5700/19 SL 5624.

6.         Target of third +ww also met.

7.         Target of 9.30 strategy met without giving an entry.

8.         Nifty opened up with a gap and never looked back. It not only made a new high but also closed strongly at a recent new high. It thus closed +ve as indicated by the pre-open data and also above yesterday's close. In the process, the targets of all the three +WWs and the bullish flag of the first post were met. Also met was target of 9.30 strategy trade but without giving an entry.

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

 

Daily_Nifty_VP's View-26/11/12

LEADER POST for Monday (26/11/12)

1.         Supports are at about 5600, 5588, 5577 and 5533 while resistances are at about 5630 and 5653. Four likely +WWs give about 5641, 5666, 5676 and 5684 (+WWs with higher targets are not mentioned as of now). Three likely -WWs give about 5599 (once below 5611), 5597 (once below 5653, which is not reached yet) and 5552 (once below 5617) (other -WWs with lower targets are not mentioned presently). A bullish flag gives higher evel unless killed below 5608.

Nifty closed above 5600 once again but below 5630. What's more, it made a lower high and low than those on Thursday. Also, the daily candle is a hanging man, which is a bearish sign and hence trade carefully. A close below 5600 once again and particularly below 5550 may take it down further to as low as 5400. Nifty now needs to close above 5660 to maintain a bullish tone.

2.         PCR at 1.03 and VIX at 14.68. Pre-open high/low at 5728.20/5626.60 and close at 5648.65. The 10tf candle is an inverted hammer and may indicate flat/-ve nifty after a gap up open.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5632NF TARGET 5608 SL 5662.

4.         Target of first +ww and bullish flag met at open.

5.         Today's gap filled.

6.         Nifty opened up with a small gap and made a higher high and low than those on Friday but closed -ve as, indicated by the pre-open data, though above Friday's close. Nifty filled up the gap created today. However, nifty fut did not make a higher high. The targets of first +ww and the bullish flag of the first post were met but the target 9.30 strategy trade was not met nor was its SL triggered. The total range was narrow at about 25 being an expiry week.

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

 

Daily_Nifty_VP's View-23/11/12

LEADER POST for Friday (23/11/12)

1.         Supports are at about 5619 and 5547 while resistances are at about 5634, 5645 and 5693. Two likely +WWs give about 5646 and 5662 (+WWs with higher targets are not mentioned as of now). Four likely -WWs give about 5620, 5613, 5595 and 5564 (other -WWs with lower targets are not mentioned presently). A falling channel mentioned a few days ago seems to have broken out and can give about 5750/75 unless nifty goes below 5534 again.

Nifty closed above 5600 once again. What's more, it just crossed 5643 before closing below 5630. Thus it is placed at a crucial break out stage though still in the resistance zone below 5643 and a daily and weekly close above 5660 can only be bullish for next week. However, a close below 5600 once again and particularly below 5550 may take it down further to as low as 5400.

2.         PCR at 1.06 and VIX at 14.91. Pre-open high/low at 5643.30/5615.45 and close at 5635.45. This may indicate mildly +ve market after a slight gap up opening.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5634NF TARGET 5604/5585 SL 5664.

4.         Target of first -ww met.

5.         Second -ww target met.

6.         Target of third -ww met.

7.         Nifty opened up with a small gap but quickly reacted to make a lower high and low than those yesterday before closing -ve and just below yesterday's close. The total range was about 40. The targets of first three -WWs and that of 9.30 strategy trade were met. The daily candle is a hanging man.

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