Nifty Cash Outlooks : 5054 | Date : 19th NOV 2009

Technical Analysis For The Date :  19th NOV 2009

Nifty Cash Outlooks : 5054

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. 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 7 points. Market was get reversed from 4538. Weekly Investors & Traders: Medium Term Traders & Investors hold position who has enter above 4960. SL is at 4760. Daily Traders: For Long, hold NIFTY with SL 4980. Key reversal is at 4990 for the downside. For short, short only below 4980 with SL 5040.

Mechanical Levels For Nifty Cash:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 4990 5015 5035 4990 DOWN 5075 5095 5120

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE KEY REV S3 S2 S1 R1 R2 R3 RELIANCE 2102 2135 UP 2020 2045 2075 2130 2155 2180 SBI 2330 2310 DOWN 2265 2285 2310 2350 2370 2395 TISCO 546.9 530 DOWN 525 534 540 554 561 568

Positional Calls : OIL COUNTRY (126.75):Technical  Breakout seen Buy with SL 118. Target is at 144 -158.(2 Week Call.)

Future & Options Calls : DCHL(151.8):Good Pattern seen. Buy with SL 146.Target is 162 & Then 172.Use SL strictly.