F&O Cues

F&O Cues Updated  EOD 24th Dec, 2013

Hourly Chart Bear Flag

Keep an eye on the bear Flag as well.  6255 not holding lower Trendline of the bear Flag will be the 1st target. Break of the bear flag trendline will give, Top - Hight as first Target. 

Nifty Daily Chart

                             Nifty Showing some weakness. EOD FII / DII data may throw some light. 

3 P.M

Update

Nifty Future has saved the weekly S/L 6264 till now, below it only shorts to be considered. The value is available in Pre-Market levels and Nifty Key Values.

Update

Exit the shorts in Banknifty Future here @11354

Update

Exit the shorts of Nifty future Cmp 6284

Update

Book profit in shorts initiated @6297 here @6290

Fresh Call on Nifty and Banknifty Future

Nifty Future
Buy  @6314 SL - 6291 Target1 - 6334 Target2 - 6354
Sell @6297 SL - 6320  Target1 - 6277  Target2 - 6257

Banknifty Future
Buy @11431 SL - 11381 Target1 - 11451 Target2 - 11471
Sell @11359 SL - 11409 Target1 - 11339 Target2 - 11319

1 P.M

Update

Nifty has a balance of 153 points move due for the week and  169 points move due for the Month. Though Fullfilling the month avg. looks difficult from here, there is a possibility of Nifty to take up atleast 100 points from here. The target may be either 6420 or 6166. 

12 Noon

Intraday Chart - Nifty Hourly

As discussed earlier 6273 will support and 6321 will resist (See Chart) and breakout or breakdown above or below them respectively. The target may be either the lower channel or the upper channel.

Update with Nifty and Banknifty Future Calls

Day Trading Range expected for Nifty Spot                  6236-6320 (Week S/L 6224)
Day Trading Range expected for Nifty Future              6257-6329 (Week  S/L 6264)

Day Trading Range expected for Banknifty Spot          11086-11489 (Week S/L 11121)
Day Trading Range expected for Banknifty Future      11097-11525 (Week S/L 11175)


Call for the Day

Buy Nifty Future          6275-6285     with S/L  of  6264    Target 6315-6325

Buy Banknifty Future  11250-11270 with S/L  of  11175  Target 11400-11450

Update

Generally Mutual Funds attempt to close the Index Higher by the Month end for their NAV management. Today EOD or tomorrow the upmove may be seen. Today is an NR4 (Narrow Range 4) day and it has the following implications :

Nifty Spot Buy Above 6320 for 6397 
or
Sell Below 6265 for 6188

but an NR4 day may be followed by another NR4 day, which may be today and the final move may come tomorrow as well.

Anyway today towards the EOD or tomorrow we have to be watchful for such a move that is expected.

Update

Nifty and Banknifty Key values Updated

10 A.M

Pre-Market Levels for 24th December (Tuesday), 2013 Working

It will be critical for Nifty to make a higher high today or atleast close above 6284.5 (Nifty Spot)
Nifty Spot (Resistance Zone 6292-6301 and Shocker 6317)/  strong above 6317

Nifty Future
6416                  Sell All
6406                  Week T2
6393-6400         Resistance
6367-6373         Strong Resistance / Sell Zone
6353-6362         Resistance / Sell Zone / Buy Above (Week T1 6362)
6333-6340         Sell Zone / Crucial Resistance
6319-6322         Resistance
6306-6309         Strong Above
6295                  Weak Below / Buy Holding
6274-6283         Good Support
6254-6264         Good Support (Week S/L 6264!!)
6248                  Strong Support

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Banknifty Spot (Resistance Zone 11432-11439 and Shocker 11518/11712)

Banknifty Future
11831                  Week T2
11769                  Sell All
11633-11697       Sell Zone / Buy Above
11627                  Week T1
11474-11534       Stiff Resistance
11354-11386       Strong Above
11317-11340       Weak Below / Support
11281-11289       Strong Support
11170-11226       Big Support (Week S/L 11175!!)