Nifty Cash Outlooks : 5108 | Date : 26th NOV 2009

Technical Analysis For The Date :  26th NOV 2009

Nifty Cash Outlooks : 5108

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 is subdivided. Target is above 5182 minimum or can up to 5330. Perspective about wave may change below 4640.

Trading Strategies: Yesterday, Market is goes UPSIDE nearly 17 points. Global clue is that NIFTY likely open down side @30 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, short only below 5030 with SL 5090.

Mechanical Levels For Nifty Cash:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 5020 5065 5085 5030 DOWN 5115 5135 5160

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE KEY REV S3 S2 S1 R1 R2 R3 SBI 2323 2285 DOWN 2263 2285 2305 2342 2357 2380 TISCO 562 570 UP 541 547 555 568 574 581

Positional Calls : NO CALLS

Future & Options Calls : BHARAT FORG(273.55): Buy with SL 266.Target is at 282 & 287.(Intraday Call) L&T(1657): Buy with SL 1638.Target is at 1694 & 1708.(Intraday Call) TISCO(561.5): SELL below 554 with SL 564.Target is at 537 & 531.(Intraday Call)

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