Nifty Cash Outlooks : 5033 | Date : 1st DEC 2009

Technical Analysis For The Date :  1st DEC 2009

Nifty Cash Outlooks : 5033

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.

Trading Strategies: Yesterday, Market is goes UPSIDE nearly 91 points. Global clue is that  HANG SANG ,NIKKI ,ALL ASIAN MARKETS is in sideway. So NIFTY likely open sideway. Weekly and Medium term Investors & Traders: AS market looks some uncertain movement and we conclude as per Elliott wave that market is likely to correct in medium term. So put yourself with cash on hand. (waiting period is @ 2 months)   Daily Traders: In Hourly chart there is expanding triangle formation is likely to forming. In this pattern bulls and bears are apply there force aggressively. AS the result trader's SL is trigger both side. SO, For Long, Enter on dip @4950 with SL 4880. For short, wait for sometime.

Mechanical Levels For NIFTY CASH:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 4920 4945 5025 4980 DOWN 5045 5070 5120

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 RELIANCE 1063 1080 UP 1005 1020 1033 1075 1080 1096 SBI 2238 2290 UP 2175 2190 2220 2260 2285 2305 TISCO 575 561 DOWN 548 559 566 585 591 602

Positional Calls : NO CALLS

Future & Options Calls : IDEA(51):(LOT:2700): Buy with SL 49.5.Target is at 53.5 & 55.(Intraday Call) DCHL(156):(LOT:3400): Buy with SL 152.Target is at 164 & 168.(Intraday Call. HIGH RISK HIGH GAIN)

We give Updated Premium Calls & Detail Analysis more then this to Our Paid Members via SMS , intraday Login and Via Live Chats.

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