Nifty Cash Outlooks : 4989 | Date : 20th NOV 2009

Technical Analysis For The Date :  20th NOV 2009

Nifty Cash Outlooks : 4989

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 will be minimum @4200-4150(38.2% minimum). Conclusion is that wave' c will be failure one and will not retrace all the wave' b. Our bearish zone will 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 major wave 'b. Conclusion is that small wave upside started at 4538 is strong wave. Which may be subdivided. Target is above 5182 minimum or can unto 5330.Perspective about wave may change below 4640.

Trading Strategies: Yesterday, Market is goes DOWNSIDE nearly 66 points. Market was get reversed from 4538. Weekly Investors & Traders: Who hold  the long position.Rising SL is at 4915. Daily Traders: For Long, SL 4980 is triggered. Buy only above 5060 level.For short, hold short below 4980 with SL 5040.

Mechanical Levels For Nifty Cash:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 4905 4925 4960 5040 UP 5015 5050 5075

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE KEY REV S3 S2 S1 R1 R2 R3 RELIANCE 2082 2105 UP 2044 2055 2069 2094 2108 2118 SBI 2280 2315 UP 2210 2239 2255 2304 2323 2334 TISCO 537 530 DOWN 516 521 530 544 552 558

Positional Calls : NO CALLS.

Future & Options Calls : NO CALLS

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