Nifty Cash Outlooks : 5148 | Date : 9TH DEC 2009

Technical Analysis For The Date :  9TH DEC 2009

Nifty Cash Outlooks : 5148

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. 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 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 5010 5045 5101 5070 DOWN 5190 5230 5255

Mechanical Levels for MOST ACTIVE SCRIPTS  CASH LEVEL:   SCRIPT CLOSE TREND CHANGE IF S3 S2 S1 R1 R2 R3 AXIS BANK 1040 1005 DOWN 982 997 1021 1060 1085 1098 DLF 383 371 DOWN 351 358 371 394 407 414 HDIL 347 338 DOWN 326 331 341 355 361 364 INFOSYS 2440 2390 DOWN 2340 2380 2405 2470 2495 2520 ICICI BNK 872 883 UP 835 844 858 885 894 901 RELIANCE 1080 1085 UP 1029 1042 1061 1098 1114 1129 SBI 2307 2280 DOWN 2230 2251 2280 2331 2350 2368 TISCO 568 556 DOWN 545 551 560 576 582 587 TELCO 724 692 DOWN 691 702 712 736 744 752 YES BANK 272 264 DOWN 251 261 266 275 279 288

Positional Calls : LOK HOUSING(42.9):Buy with SL 41.Target is at 52 & 58.(ONE WEEK Call) KALINDEE RAIL(157.5): Buy with SL 151.Target is at 173 & 184.(4 days Call)

Future & Options Calls: BALRAMCHIN(139.5):(LOT:2400) Buy ON DIP @136 with SL 133.Target is at 143 & 147.(INTRADAY Call)     PREVIOUS DAYS OUTLOOKS:     02/12/09      03/12/09      04/12/09      07/12/09      08/12/09

Wednesday, December 09, 2009 09:15:07 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.