Technical Analysis For The Date : 30th NOV 2009 | ||||||||||||||||||||||||||||||||
Nifty Cash Outlooks : 4942 | ||||||||||||||||||||||||||||||||
Waves Outlooks Large Medium Term Pattern Unfold : Complex Double combination corrective pattern is forming. wave 'b is ON, Likely to form FLAT formation. Till now wave' b has achieved @ 131% of wave 'a. It is strong wave' b. After wave' b complete, wave' c will start downside the minimum correction is 38.2% of Wave 'b. If we assume 5182 is top of wave 'b then wave 'c has to minimum 38.2% of wave 'b(@ 4150-4200). Conclusion is that wave' c will be failure one and will not retrace all the wave' b. Our bearish pattern will be over there. New impulsion of major bull phase will start till 2016. | ||||||||||||||||||||||||||||||||
Small Term Internal Patterns: Here we will not discuss about small pattern inside wave. If we assume 5182 is top of wave 'b then wave 'c downside has to minimum 38.2% of wave 'b(@ 4150-4200). Wave 'c stared which also in FLAT formation is likely. Perspective about wave may change above 5182. | ||||||||||||||||||||||||||||||||
Trading Strategies: Yesterday, Market is goes DOWNSIDE nearly 64 points. Global clue is that HANG SANG ,NIKKI ,ALL ASIAN MARKETS is in green. So NIFTY likely open up side @ 45-55 points. Weekly Investors & Traders: Re enter only above 5115 for the long position. Daily Traders: For Long, Enter only close above 5080, till avoid buying in NIFTY and other stocks also. For short, who shorted at 5030( on 26/11/09) can hold with trailing SL 5045. | ||||||||||||||||||||||||||||||||
Mechanical Levels For NIFTY CASH:
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Mechanical Levels for MOST ACTIVE SCRIPTS :
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Positional Calls : SUZLON(74): BUY with SL 71.Target is at 82 & 86.(One week Call) DCW(20.5): Breakout seen, BUY with SL 19.Target is at 24 & 26.(4 days Call) | ||||||||||||||||||||||||||||||||
Future & Options Calls : YES BANK(249.3):(LOT:2200): Buy with SL 239.Target is at 284 & 292.(One week Call) IFCI(50.85): (LOT:7880): BUY at opening with SL 49.Target is at 54 & 57.(Intraday Call) | ||||||||||||||||||||||||||||||||
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Disclosers: We or Our Clients may have some position in above calls. |
