Nifty Cash Outlooks : 4942 | Date : 30th NOV 2009

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:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 4835 4880 4925 5045 UP 5005 5055 5080

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 RELIANCE 1049 1080 UP 1005 1020 1033 1065 1083 1096 SBI 2243 2290 UP 2175 2190 2215 2278 2305 2325 TISCO 545 555 UP 524 533 542 556 564 578

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.