Nifty Cash Outlooks : 5123 | Date : 3rd DEC 2009

Technical Analysis For The Date :  3rd DEC 2009

Nifty Cash Outlooks : 5123

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 1 points. Global clue is that  HANG SANG ,NIKKI ,ALL ASIAN MARKETS is in  small upside. So NIFTY likely open upside @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. In this pattern bulls and bears are apply there force aggressively. AS the result trader's SL is triggered both side. SO, For Long, SL is 5050. For short, wait for sometime.

Mechanical Levels For NIFTY CASH:   SUP 3 SUP 2 SUP 1 KEY REV RES 1 RES 2 RES 3 5040 5065 5090 5050 DOWN 5148 5180 5225

Mechanical Levels for MOST ACTIVE SCRIPTS :   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 RELIANCE 1100 1070 DOWN 1042 1058 1081 1120 1134 1158 SBI 2307 2270 DOWN 2225 2265 2290 2350 2385 2405 TISCO 575 564 DOWN 549 555 566 584 594 602

Positional Calls : IWIND ENERGY (47.2): Highly CONSOLIDATED. Buy with SL 44.Target is at 56 & 62.(ONE Week Call) INDAGVIN(52): Buy with SL 48.Target is at 58 & 64.(ONE Week Call)

Future & Options Calls: DISH TV(42.75):(LOT:5150):Breakout seen!!!! Buy with SL 41.Target is at 46 & 48.(Intraday Call) FEDERALBNK(248):(LOT:851): Buy with SL 244.Target is at 259 & 264.(TWO Week Call) GTLINFRA(36):(LOT:9700): Buy with SL 34.5.Target is at 40 & 43.(INTRADAY Call)

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