Nifty Cash Outlooks : 5005 | Date : 27th NOV 2009

Technical Analysis For The Date :  27th NOV 2009

Nifty Cash Outlooks : 5005

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. GOLDEN RULES: SMALL WAVES CAN BE CONVERT INTO BIG WAVES AND SMALL LOSSES IS CONVERT INTO BIG LOSSES. MARKETS ARE NEVER WRONG, THE OPINION MAY WRONG. SO CORRECT OURSELVES.

Trading Strategies: Yesterday, Market is goes DOWNSIDE nearly 102 points. Global clue is that  HANG SANG ,NIKKI ,ALL ASIAN MARKETS is in red. So NIFTY likely open down side @45-55 points. Weekly Investors & Traders: Who hold the long position. Rising SL is at 4970. Daily Traders: For Long, TWO time mechanical  SL triggered in week, which is indicate weakness in up trend. So 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 4885 4935 4965 5045 UP 5015 5045 5095

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 RELIANCE 1065 1082 UP 1015 1035 1048 1081 1100 1116 SBI 2253 2290 UP 2168 2190 2225 2282 2305 2335 TISCO 543 555 UP 516 522 532 554 564 571

Positional Calls : NO CALLS

Future & Options Calls : ICICI BANK(861.75): SELL with SL 870.Target is at 836 & 821.(Intraday Call) PANTLOONR(343.05): BUY @330 with SL 321.Target is at 349 & 357.(One week Call)

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Disclosers: We or Our Clients may have some position in above calls.