Update on Nifty Spot

e-leg was 533.8 points and a-leg was about 577.6 points. Crossing the trendline resistance at 7138-7140 
g-leg commences with 7080 as S/L .

Targets can be as follows

5984.6  + 1296.15 = 7280.75 (target 1)
Or     
7084.85 + 533.8   = 7618.65 (target 2)
Or
7084.85 + 577.6   = 7662.45 (target 3)
OR 
6415    + 1296.15 = 7711.15 (target 4)

Call for tomorrow morning

Call for tomorrow
Buy 7500 CE above 119 S/L 99 Target 137/8 / 176 and 237.

Update

Bullish from 7154+ and very bullish holding above 7172.35 for Nifty Spot or 7203 for Nifty Future. Tomorrow seeing the price quick decision needs to be taken as the move may be of another 400-500+ points with S/L below 7125 Nifty Spot.

Final Call

 Unless the last high 7172.35 is cleared and held successfully by Nifty Spot or  7203 for Nifty Future a correction towards 6980-7020 possible tomorrow. Closing is positive for now.

Update

     Breaking 7080 Nifty Spot with volume will bring in 80-100 points fall minimum, courtesy H&S or Bear Flag.

Update

Write in the money calls and Puts to get maximum benefit. 

Eg. 6800 CE at 450 and 7200 PE and 282 after writing one gets 732 points. Tororrow by afternoon 50-100 points should easily come as profit. Upto 7532 or 6468 one is safe.

Update

Market is not looking very confident of a very strong verdict and hence keeping the options open till now between f-leg and g-leg. Unless the last high 7172.35 is cleared and held successfully by Nifty Spot or  7203 for Nifty Future a correction towards 6980-7020 possible tomorrow.  Do not take excessive position for tomorrow to be on the safe side especially in options as the premium is likely to fall suddenly by 12 noon or 10/11 A.M.  The rally may rather happen from or after Monday. Positions if at all may only be in Future.

Update

Time to go long in Nifty, if short.

Update

Nothing to worry shown for the 6800 CE buyers.

Update

f-leg obviously going on and not complete.

Update

g-leg started it seems crossing last high will clear the cloud. 6800 CE buyer can continue with longs with the mentioned Stop Losses.

Pre-Market Levels For 15th May, 2014 Working

Trade the levels, Charts can adjust 
For Nifty +/- 5/6 Points and for Banknifty +/-10-12 Points, is allowed deviation

Nifty Future
7225-7236                                                                                      Sell All
7198-7205                                                                                      Stiff Resistance / Sell Zone / Buy 
                                                                                                       Above
7172-7183                                                                                      Strong Resistance / Sell Zone
7159-7164                                                                                      Key / Bullish Above
7136-7146                                                                                      Consolidation Zone / Support Zone
7122                                                                                               Weak Below / Buy Zone
7095-7109                                                                                      Huge Support / Buy All
-------------------------------------------------------------------------------------------------------------------------
Buy Above or Closer to 7143.05 Target1 - 7160  Target2 7188 Target3 - 7188  Target4 - 7216 Target5 - 7236  S/L 7139.05-(aggr) /7117.45-(Cons)
-------------------------------------------------------------------------------------------------------------------------
Sell Below or Closer to 7139.05 Target1 - 7122  Target2 - 7094 S/L 7143.05-(aggr) /7164.65-(Cons)
OR
Sell Closer to  or C.O Below 7188.30 Target1 - 7143-7139 Target2 - 7122  Target3 - 7094  S/L 7188.30 or Day's High
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If Ranged then  7113 - 7118 or 7134 - 7139 to 7183 -7188 will be the trading range, with +/- 1 Point Possible Deviation extra for every Hour


Banknifty Future
14703-14751                                                                                    Sell Khulke
14554-14617                                                                                    Sell All
14430-14485                                                                                    Sell Zone / Buy More Above
14350-14415                                                                                    Strong Resistance
14281                                                                                               Key
14171-14244                                                                                    Big Support Zone / Buy All / Sell 
                                                                                                         Below

-------------------------------------------------------------------------------------------------------------------------
Buy Above or Closer to 14309.20 Target1 - 14324  Target2 14352 Target3 - 14380  Target4 - 14450 Target5 - 14595 Target6 - 14667 Target7 - 14740 S/L 14301.20-(aggr) /14232.80-(Cons)
-------------------------------------------------------------------------------------------------------------------------
Sell Below or Closer to 14301.20 Target1 - 14287  Target2 - 14258  Target3 - 14230 Target4 - 14160 Target5 - 14016 Target6 - 13943 Target7 - 13871 S/L 14309.22-(aggr) /14377.60-(Cons)
OR
Sell Closer to  or C.O Below 14450.00 Target1 - 14309-14301 Target2 - 14287  Target3 - 14258  Target4 - 14230 Target5 - 14160 Target6 - 14016 Target7 - 13943 Target8 - 13871 S/L 14450.00 or Day's High 
-------------------------------------------------------------------------------------------------------------------------

Nifty poised to move either side

6980-7020 Maximum intraday downside (Provided doesn't close below this zone) and for f-leg and from here if it clears 7172-7200 it may go up to 7400-7600 as well in g-leg.