Nifty Cash Outlooks : 5117 | Date : 14TH DEC 2009

Technical Analysis For The Date :  14TH DEC 2009

Nifty Cash Outlooks : 5117

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 RED. So NIFTY likely open DOWN @20-35 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. SL for medium term investors is at 4850.   Daily Traders: For Long, SL is at 5070. For short, Trend is weak below 5070, 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 4970 5010 5070 5070 DOWN 5130 5165 5250

Mechanical Levels for MOST ACTIVE SCRIPTS  CASH LEVEL:   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 AXIS BANK 1003 1025 UP 947 691 984 1024 1037 1046 DLF 382 374 DOWN 356 363 374 390 397 403 HDIL 343 338 DOWN 320 325 336 350 356 361 INFOSYS 2455 2425 DOWN 2390 2410 2430 2470 2490 2510 ICICI BNK 863 860 DOWN 814 824 842 885 903 911 RELIANCE 1068 1085 UP 1035 1048 1060 1080 1092 1100 SBI 2265 2295 UP 2170 2195 2233 2295 2323 2340 TISCO 545 562 UP 521 526 535 555 565 578 TELCO 711 704 DOWN 681 690 701 721 727 739 YES BANK 255 261 UP 238 244 251 261 266 270

Positional Calls : NO CALLS.

Future & Options Calls: NO CALLS.     PREVIOUS DAYS OUTLOOKS:     07/12/09      08/12/09      09/12/09      10/12/09       11/12/09

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