Daily_Nifty_VP's View-11/10/13

LEADER POST for Friday (11/10/13)

1.         Supports are at about 6000, 5956 and 5925 while resistances are at about 6035, 6065 and 6105. Previous high to watch is 6142. Three +WWs can give about 6050, 6068 and 6139 (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 5987/5948/5888 (once below 6035) and 5979 (once below 6061, which is yet to be reached) (-WWs with lower targets are not mentioned as of now). BO of a falling wedge can give about 6125 if nifty continues to go up. Break down of a rising wedge can give about 5920/5880 if nifty remains below 6045. A bullish flag can give 6075 unless killed below 5740.

Nifty closed mildly +ve after a gap down open and closed above 6000 again and is clearly bullish. Thursday was a NR7 day and we can expect large move on Friday. Daily candle is like an evening star, which is a bearish sign. To confirm, nifty must close well below 6020, preferably with a gap down open. If it goes below 5900, it may fall further. 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. Infy results on Friday will cause choppiness.

2.         Pre-open data suggests a +ve nifty after a gap up open unless it remains below 6104 by afternoon.

3.         Immediate trend down, target 6094NF, SL 6175. Wait for 9.30 data.

4.         Target reached.

5.         AS PER 9.30 STRATEGY, SELL ABOVE 6178NF, TARGET 6094, SL 6208.

6.         Targets of first two +WWs and the bullish flag of the first post met in open itself.

7.         Nifty opened up with a huge gap and quickly reacted but recovered later to close slightly -ve but strongly above yesterday's close. The targets of first two +WWs and the bullish flag of the first post were met in the open itself. Also, target of 9.30 strategy was met before 9.30 i.e. without giving chance of an entry. Daily candle is a hanging man and also an evening star.

The week’s chart suggests that chances of further upside remain in spite of some reaction.

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

 

Daily_Nifty_VP's View-09/10/13

LEADER POST for Wednesday (09/10/13)

1.         Supports are at about 5895, 5866 and 5818 while resistances are at about 5940, 5970 and 6009. 200/100 dma are at about 5840/5803 while 50 wma is at about 5829. Four +WWs can give about 5970, 5996, 6011, 6024 and 6037 (+WWs with higher targets are not mentioned as of now). Three -WWs can give 5862/5790 (once below 5972) and 5903 (-WWs with lower targets are not mentioned as of now). BO of a falling wedge can give about 6125 while BO of a falling channel can give 6030 if nifty if nifty continues to go up. A bullish flag can give 6075 unless killed below 5740.

Nifty fell after a gap up open and closed above 5900. Nifty should close above 5906 on Wednesday to sustain the upmove. If it goes below 5820, it may fall sharply. 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 mildly +ve nifty after a gap down open unless it remains below 5893 by afternoon.

3.         AS PER 9.30 STRATEGY, SELL ABOVE 5902NF, TARGET 5873, SL 5932.

4.         SL hit, hence buy below 5927NF, target 5962, SL 5897.

5.         Target met.

6.         Target of first three +WWs met.

7.         Nifty opened gap down to make a lower low but then didn't look back and rose about 140 points above low without a hiccup to make a higher high and a new high since 20/9 before closing strongly +ve and also strongly above yesterday's close. The targets of first three +WWs of the first post were met. However, SL of 9.30 strategy was hit and target of reverse trade was met. The daily candle is bullish engulfing Marubuzo.

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

 

Daily_Nifty_VP's View-08/10/13

LEADER POST for Tuesday (08/10/13)

1.         Supports are at about 5885, 5850 and 5800 while resistances are at about 5927, 5965 and 6010. 200/100 dma are at about 5841/5804 while 50 wma is at about 5831. Five +WWs can give about 5950, 5989, 6011, 6024 and 6080 (+WWs with higher targets are not mentioned as of now). Two -WWs can give 5869/5806 (once below 5965, which is yet to be reached) (-WWs with lower targets are not mentioned as of now). BO of a falling wedge can give about 6125 while BO of a falling channel can give 6030 if nifty if nifty continues to go up.

Nifty rose after a gap down open and a lower low but just managed to close above 5900. The daily candle is a hammer. Nifty should remain above 5965to sustain the upmove. If it goes below 5820, it may fall sharply. 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 a +ve nifty after a big gap up open unless it remains below 5975 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 6014NF, TARGET 6045, SL 5984.

4.         If SL is hit, sell above 5987NF, target 5955, SL 6017.

5.         SL hit.

6.         SL of reverse trade also hit.

7.         Target of first +ww met.

8.         SL hit for the third time.

9.         Target of reverse trade was met without giving chance of an entry.

10.       Sell was triggered and target of reverse trade met again.

11.       Nifty opened up with a big gap, remained flat for an hour and then started falling. It thus made a higher high and low than those yesterday before closing -ve but above yesterday's close. Today's low was above yesterday's high though not for nifty fut. The target of first +ww of the first post was met. The SL of 9.30 strategy was hit thrice on either side and target of reverse trade was met twice, first without giving chance of an entry and then after entry was triggered.

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

 

Daily_Nifty_VP's View-07/10/13

LEADER POST for Monday (07/10/13)

1.         Supports are at about 5895, 5850 and 5780 while resistances are at about 5959 and 6040. 200/100 dma are at about 5840/5805 while 50 wma is at about 5824. Three +WWs can give about 5937 (once above 5876), 5979 and 5995 (+WWs with higher targets are not mentioned as of now). Four -WWs can give 5877, 5872 (once below 5897), 5863 and 5846 (once below 5880) (-WWs with lower targets are not mentioned as of now). BO of a falling wedge can give about 6125 while BO of a falling channel can give 6030 if nifty if nifty continues to go up. A bearish flag can give 5875 unless killed above 5917.

Nifty rose after a gap down open but could not close strongly and just managed to close above 5900. The daily candle is an inverted hammer but may not be of concern as it is strictly not at the top of an uptrend. Also, weekly candle is bullish piercing and the +ve div on weekly chart persists. Nifty should remain above 5893 to sustain the upmove. If it goes below 5820, it may fall sharply. 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 a +ve nifty after a small gap down open unless it remains below 5889 by afternoon.

3.         Immediate trend down, target 5893NF, SL 5975. Wait for 9.30 data.

4.         Target met before 9.30 itself.

5.         AS PER 9.30 STRATEGY, SELL ABOVE 5980NF, TARGET 5893, SL 6010.

6.         Targets of all four -WWs of the first post met.

7.         Target of bearish flag of the first post met.

8.         Nifty opened down with a small gap and fell sharply to make a lower low. But it rose sharply in the afternoon but could not make a higher high. Finally it closed mildly +ve but flat w.r.t. Friday's close. The targets of all the four -WWs and the bearish flag of the first post were met in the first 10 min. The target of 9.30 strategy trade was also met in the first 10 min i.e. without giving chance of an entry. The daily candle is a hammer.

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

 

Daily_Nifty_VP's View-04/10/13

LEADER POST for Friday (04/10/13)

1.         Supports are at about 5875, 5820 and 5754 while resistances are at about 5918, 5950 and 6060. 200/100 dma are at about 5841/5807 while 50 wma is at about 5819. Four +WWs can give about 5970, 5980, 5995 and 6043 (+WWs with higher targets are not mentioned as of now). Three -WWs can give 5786/5744 (once below 5932) and 5853 (once below 5880) (-WWs with lower targets are not mentioned as of now). BO of a falling wedge can give about 6125 while BO of a falling channel can give 6030 if nifty if nifty continues to go up.

Nifty rose sharply in spite of a gap up open confirming effect of Tuesday's hammer and closed above 5900. There is now a +ve div on weekly chart. Nifty should close above 5946 on Friday to sustain the upmove. If it goes below 5820, it may fall sharply. 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 a +ve nifty after a gap down open unless it remains below 5891 by afternoon.

3.         AS PER 9.30 STRATEGY, BUY BELOW 5935NF, TARGET 5989, SL 5905.

4.         Target met without getting chance of an entry.

5.         Buy was triggered.

6.         Target of 9.30 strategy met after giving a chance of an entry.

7.         Nifty opened down with a small gap but rose sharply to make a higher high. However, it fell immediately but did not make a lower low. It then rose again to make another higher high before falling again to close mildly +ve but below yesterday's close. The target of 9.30 strategy was met twice, first without giving chance of an entry and later after entry was available. Daily candle is an inverted hammer while weekly candle is bullish piercing. Also, Friday was a NR4 day.

The week’s chart suggests that bullishness will continue further.

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

 

Daily_Nifty_VP's View-03/10/13

LEADER POST for Thursday (03/10/13)

1.         Supports are at about 5765, 5737 and 5700 while resistances are at about 5816, 5842, 5880 and 5905. The nearest gaps on higher/lower side are at about 5833/5680. Three +WW can give about 5900/5965 (once above 5803) and 5954 (once above 5772) (+WWs with higher targets are not mentioned as of now). Two -WWs can give 5756/5752 (-WWs with lower targets are not mentioned as of now). BO of two falling wedges can give about 5880/6125 if nifty remains above 5756 while BO of a falling channel can give 6030 if nifty remains above 5816.

Nifty recovered to close above 5750 but below 200/100 dma. It recovered from 50 dma. Daily candle is a hammer, a likely reversal sign. To confirm, nifty will have to close above 5781 and preferably above 5801. There is a +ve div on daily chart. 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 a +ve nifty after a gap up open unless it remains below 5819 by afternoon.

3.         Immediate trend up, target 5904NF, SL 5844. Wait for 9.30 data.

4.         AS PER 9.30 DATA, BUY BELOW 5874NF, TARGET 5904, SL 5844.

5.         Target of 9.30 strategy met.

6.         Target of first +ww met.

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

8.         Nifty opened up with a gap, remained flat for a short while before making a sharp upmove. It made a higher high and low than those on Tuesday before closing strongly +ve and also strongly above Tuesday's close. The targets of first +ww and that of BO of first falling wedge of the first post were met. Also met was target of 9.30 strategy. The daily candle is a bullish Marubuzo.

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

 

Daily_Nifty_VP's View-01/10/13

LEADER POST for Tuesday (01/10/13)

1.         Supports are at about 5680 and 5615 while resistances are at about 5775, 5807, 5828 and 5880. The nearest gap on lower side is at about 5680. A +WW can give about 5895 (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now). BO of a falling wedge can give about 5880 if nifty remains above 5760.

Nifty fell sharply in spite of a gap down open and closed below 5750, below 200/100 dma and also below 50 wma. Daily candle is a bearish Marubuzo. Further fall is now very likely. The only hope is a +ve div on lower TFs. 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.         AS PER 9.30 STRATEGY, SELL ABOVE 5817NF, TARGET 5763, SL 5847.

3.         Target met without getting a chance for an entry.

4.         Nifty opened up with a small gap and went down quickly to make a lower low. However, it then rose but made a lower high and finally closed +ve and also above yesterday's close. The target of 9.30 strategy was met but without giving a chance of an entry. The daily candle is a hammer.

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