Nifty Cash Outlooks : 5109 | Date : 7TH DEC 2009

Technical Analysis For The Date :  7TH DEC 2009

Nifty Cash Outlooks : 5109

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). 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 8 points. Global clue is that  HANG SANG ,NIKKI ,ALL ASIAN MARKETS is in  small 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: In Hourly chart there is expanding triangle formation is likely to forming. Target will be @ 5220. SO, For Long, SL is 5040. For short, wait for sometime.

Mechanical Levels For NIFTY CASH:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 4985 5040 5070 5040 DOWN 5150 5185 5230

Mechanical Levels for MOST ACTIVE SCRIPTS  CASH LEVEL:   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 ICICI BNK 871 891 UP 846 852 862 883 894 905 RELIANCE 1089 1060 DOWN 1030 1064 1076 1102 1115 1128 SBI 2328 2280 DOWN 2246 2278 2301 2355 2374 2388 TISCO 576 567 DOWN 548 563 571 582 588 598 TELCO 710 692 DOWN 681 688 698 715 722 736

Positional Calls : INDRAMEDICO(41.2):HIGHLY CONSOLIDATION, Breakout SEEN!!!! Buy with SL 39.Target is at 46 & 51 (4 DAYS Call) ZUARY AGRO(410): Buy with SL 401.Target is at 440 & 455 (INTRADAY Call)

Future & Options Calls: KSOIL(66.1):(LOT:5900):Buy with SL 64.Target is at 71 & 74.(Intraday Call) EDUCOM(752.5):(LOT:375):Buy with SL 740.Target is at 772 & 785.(Intraday Call) EKC(146.5):(LOT:2000):Buy with SL 142.Target is at 162 & 174.(ONE WEEK Call)     PREVIOUS DAYS OUTLOOKS:     30/11/09      01/12/09      02/12/09      03/12/09      04/12/09

Monday, December 07, 2009 09:17:26 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.