Nifty Cash Outlooks : 5103 | Date : 24th NOV 2009

Technical Analysis For The Date :  24th NOV 2009

Nifty Cash Outlooks : 5103

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 UPSIDE nearly 51 points. Weekly Investors & Traders: Who hold the long position. Rising SL is at 4970. Daily Traders: For Long, hold NIFTY with rising SL 5030. For short, stay away for while.

Mechanical Levels For Nifty Cash:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 5015 5050 5075 5030 DOWN 5135 5160 5195

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE KEY REV S3 S2 S1 R1 R2 R3 RELIANCE 2195 2135 DOWN 2090 2135 2160 2230 2258 2278 SBI 2320 2285 DOWN 2243 2263 2295 2345 2368 2380 TISCO 573 558 DOWN 548 554 563 583 596 604

Positional Calls : HIMALAYA INT(37.25):Fundamental Script. As per Elliott wave, long-term Target is at 150-175 in one year.Buy with SL 31.Target is at 48 & 54.(Two Week call) LLOYD ELE(58.55): Technical Breakout script. Buy with SL 54.5.Target is at 64 & 72.(One Week call) PTC(111.6): Breakout!!!!!  Buy with SL 107.Target is at 119 & 127.(Intraday Call) SASKEN(149): Highly Consolidated !!!!! confirm above 155. Buy above 155 with SL 146.Target is at 174 & 198.(One Month Call)

Future & Options Calls : PIRAMAL HEALTH(400.2): Breakout seen!!!!. Buy with SL 385.Target is at 440 & 465.(One Week Call) INDIA CEMENT(104.8): Oversold script!!!!. Buy with SL 101.Target is at 114 & 118.(Intraday Call)

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