Murrey Math and Options data based position - EOD 9th June, 2014

Update

7700-7720 should provide some strong resistance for both Nifty Future and Spot.

Update on Nifty

Nifty is Overbought in Hourly and Daily and needed some cooling off. May be today's pause attribute to that.

Update on Nifty Future

Nifty struggling at 7671 as given.

Update on Nifty Future

Nifty Future (7609/7613-7529-7592-7623-7671)

Levels as given in Pre-Market based on F&O cues. Nifty future exceeded the highest value 7671 and could not sustain in the first attempt. 7671 Plus will be important for the day. 

Update on Nifty Spot

Nifty Spot must sustain above 7649 for bigger upmoves.

Update on Nifty Future

7639.8 (sustaining below) is the S/L for longs intraday.

Update on Nifty Future

Bullish above 7639.8.

Pre-Market Levels For 9th June, 2014 Working

Trade the Levels Charts Can Adjust
For Nifty +/- 5/6 Points and for Banknifty +/-10-12 Points, is allowed deviation

Nifty Future (7609/7613-7529-7592-7623-7671)
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Buy Above or Closer to 7592.75 Target1 - 7609.50  Target2 7637.60 Target3 - 7639.80  Target4 - 7665.75 Target5 - 7677.30 Target6 - 7688.87 Target7 - 7713.40 Target8 - 7737.95 S/L 7588.75-(aggr) /7566.20-(Cons)
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Sell Closer to  or C.O Below 7639.80 Target1 - 7592.75-7588.75 Target2 - 7572.10  Target3 - 7543.90  Target4 - 7541.70 Target5 - 7515.75 Target6 - 7504.19 Target7 - 7492.63 Target8 - 7468.10 Target9 - 7443.55 S/L 7639.80 or Day's High  
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Banknifty Future(15291-15545-15573-15636-15734)
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Buy Above or Closer to 15574.55 Target1 - 15589.20  Target2 15617.30 Target3 - 15645.50  Target4 - 15738.00 Target5 - 15821.80 Target6 - 15905.55 Target7 - 15989.35 Target8 - 16073.15 S/L 15566.35-(aggr) /15486.65-(Cons)
OR
Buy Closer to or C.O Above 15402.90 Target1 - 15566.35-15574.55 Target2 - 15589.20  Target3 15617.30 Target4 - 15645.50  Target5 - 15738.00 Target6 - 15821.80 Target7 - 15905.55 Target8 - 15989.35 Target9 - 16073.15 S/L 15402.90 or Day's Low
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Sell Below or Closer to 15566.35 Target1 - 15551.80  Target2 - 15523.60  Target3 - 15495.45 Target4 - 15402.90 Target5 - 15319.10 Target6 - 15235.35 Target7 - 15151.55 Target8 - 15067.75 S/L 15574.55-(aggr) /15654.25-(Cons)
OR
Sell Closer to  or C.O Below 15738.00 Target1 - 15574.55-15566.35 Target2 - 15551.80  Target3 - 15523.60  Target4 - 15495.45 Target5 - 15402.90 Target6 - 15319.10 Target7 - 15235.35 Target8 - 15151.55 Target9 - 15067.75 S/L 15738.00 or Day's High  
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Nifty Spot Daily Chart

This could be the e-leg of the 2nd corrective and may have the following targets
7718         - Target 1
7823         - Target 2
7938         - Target 3
Worry only if Nifty spot starts trading below 7563.5.