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.