Nifty Cash Outlooks : 5067 | Date : 8TH DEC 2009

Technical Analysis For The Date :  8TH DEC 2009

Nifty Cash Outlooks : 5067

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 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). Perspective about wave may change above 5182.

Trading Strategies: Global clue is that  HANG SANG ,NIKKI ,ALL ASIAN MARKETS is in  downside. So NIFTY likely open down @20 points. Weekly and Medium term Investors & Traders: AS market looks some uncertain movement in medium term 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 @ 2-3 months)   Daily Traders: For Long, Support is at 5040. For short, Trend is weak below 5040, if falls below then it can be drops to 4945.

Mechanical Levels For NIFTY CASH:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 4945 4995 5025 5040 DOWN 5110 5140 5185

Mechanical Levels for MOST ACTIVE SCRIPTS  CASH LEVEL:   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 AXIS BANK 1011 1035 UP 964 975 996 1027 1039 1058 DLF 369 382 UP 344 351 360 378 384 389 HDIL 336 346 UP 305 317 326 348 355 361 INFOSYS 2390 2350 DOWN 2330 2344 2365 2415 2445 2465 ICICI BNK 861 883 UP 825 834 850 873 884 895 RELIANCE 1055 1085 UP 981 1014 1032 1080 1098 1110 SBI 2325 2280 DOWN 2261 2278 2305 2345 2365 2390 TISCO 556 566 UP 525 533 546 566 574 580 TELCO 704 692 DOWN 668 677 692 716 726 731 YES BANK 269 258 DOWN 255 258 264 273 278 284

Positional Calls : NO CALLS.

Future & Options Calls: ABB(736.5):(LOT:500):SHORT ONLY IF DROPS BELOW 725 with SL 735.Target is at 701 & 685.(Intraday Call) PETRONET(71.25):(LOT:4400):BUY with SL 70.25.Target is at 74.5 & 76.(Intraday Call)     PREVIOUS DAYS OUTLOOKS:     01/12/09      02/12/09      03/12/09      04/12/09      07/12/09

Tuesday, December 08, 2009 09:10:03 AM 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.