Nifty Cash Outlooks : 5132 | Date : 4TH DEC 2009

Technical Analysis For The Date :  4TH DEC 2009

Nifty Cash Outlooks : 5132

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 sideway. 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. 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 5040 5065 5090 5050 DOWN 5170 5195 5225

Mechanical Levels for MOST ACTIVE SCRIPTS  CASH LEVEL:   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 ICICI BNK 884 899 UP 843 862 871 898 908 924 RELIANCE 1102 1060 DOWN 1041 1074 1090 1114 1130 1138 SBI 2354 2305 DOWN 2270 2290 2325 2382 2405 2440 TISCO 583 567 DOWN 558 568 574 592 602 610 TELCO 705 688 DOWN 668 675 688 592 602 610

Positional Calls : BINANI CEM(67.5):Breakout!!!! Buy with SL 64.Target is at 78 & 82(ONE WEEK Call) SUJANA METAL(23.4): Buy with SL 21.Target is at 26 & 29 (ONE WEEK Call)

Future & Options Calls: BPCL(605):(LOT:550):Buy with SL 594.Target is at 634 & 647.(Intraday Call) PFC(260):(LOT:1200): Buy with SL 253.Target is at 274 & 282.(INTRADAY Call)     PREVIOUS DAYS OUTLOOKS:     30/11/09      01/12/09      02/12/09      03/12/09

Friday, December 04, 2009 08:42:49 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.