Wednesday, June 11, 2014
Update
Nifty is repeatedly trying to break 7600 level and demonstrating weakness. Nifty may go towards 7528-7558 range. If it happens the charts would have to be revisited.
Update
Buy triggered. Keep 7600 as s/l. If s/l triggers but price scales above 7618.25 once again one needs to go long.
Update on Nifty Future
Price approaching another buying level.
Buy Closer to or C.O Above 7618.25 Target1 - 7666.30-7670.30 Target2 - 7687.00 Target3 7715.15 Target4 - 7718.40 Target5 - 7743.30 Target6 - 7755.85 Target7 - 7768.45 Target8 - 7793.50 Target9 - 7818.50 S/L 7618.25 or Day's Low
Buy Closer to or C.O Above 7618.25 Target1 - 7666.30-7670.30 Target2 - 7687.00 Target3 7715.15 Target4 - 7718.40 Target5 - 7743.30 Target6 - 7755.85 Target7 - 7768.45 Target8 - 7793.50 Target9 - 7818.50 S/L 7618.25 or Day's Low
Update on Nifty Spot
If one more low is made then we have to assume that c-leg of the Contracting triangle was not over at 7615.2 and if it holds then that was the point. Anyway yesterday's low (7579.3) shouldn't be broken under any circumstances by the c-leg.
Update
Needless to say market will go up from here and make a higher high and fall again for one more last time, if the triangle assumption is correct.
Update on Nifty Spot
7683.2 Plus chances of Nifty attempting 7720-7750 and prices will remain weak below 7683.2. However all dips must be bought with S/L of 7563.5(sustaining below).
Pre-Market Levels For 11th 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 (7581-7626/7634-7659-7681/7690-7700-7720)
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Buy Above or Closer to 7670.30 Target1 - 7687.00 Target2 7715.15 Target3 - 7718.40 Target4 - 7743.30 Target5 - 7755.85 Target6 - 7768.45 Target7 - 7793.50 Target8 - 7818.50 S/L 7666.30-(aggr) /7643.26-(Cons)
OR
Buy Closer to or C.O Above 7618.25 Target1 - 7666.30-7670.30 Target2 - 7687.00 Target3 7715.15 Target4 - 7718.40 Target5 - 7743.30 Target6 - 7755.85 Target7 - 7768.45 Target8 - 7793.50 Target9 - 7818.50 S/L 7618.25 or Day's Low
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Sell Below or Closer to 7666.30 Target1 - 7649.60 Target2 - 7621.40 Target3 - 7618.25 Target4 - 7593.30 Target5 - 7580.75 Target6 - 7568.15 Target7 - 7543.10 Target8 - 7518.10 S/L 7670.30-(aggr) /7693.34-(Cons)
OR
Sell Closer to or C.O Below 7718.35 Target1 - 7670.30-7666.30 Target2 - 7649.60 Target3 - 7621.40 Target4 - 7618.25 Target5 - 7593.30 Target6 - 7580.75 Target7 - 7568.15 Target8 - 7543.10 Target9 - 7518.10 S/L 7718.35 or Day's High
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Banknifty Future(15157-15315-15489-15511-15563-15593/15608)
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Buy Above or Closer to 15478.05 Target1 - 15492.70 Target2 15520.85 Target3 - 15549.00 Target4 - 15637.45 Target5 - 15719.15 Target6 - 15800.89 Target7 - 15882.60 Target8 - 15964.33 S/L 15469.95-(aggr) /15392.30-(Cons)
OR
Buy Closer to or C.O Above 15310.55 Target1 - 15469.95-15478.05 Target2 - 15492.70 Target3 15520.85 Target4 - 15549.00 Target5 - 15637.45 Target6 - 15719.15 Target7 - 15800.89 Target8 - 15882.60 Target9 - 15964.33 S/L 15310.55 or Day's Low
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Sell Below or Closer to 15469.95 Target1 - 15455.30 Target2 - 15427.20 Target3 - 15399.00 Target4 - 15310.55 Target5 - 15228.85 Target6 - 15147.11 Target7 - 15065.40 Target8 - 14983.65 S/L 15478.05-(aggr) /15555.70-(Cons)
OR
Sell Closer to or C.O Below 15637.45 Target1 - 15478.05-15469.95 Target2 - 15455.30 Target3 - 15427.20 Target4 - 15399.00 Target5 - 15310.55 Target6 - 15228.85 Target7 - 15147.11 Target8 - 15065.40 Target9 - 14983.65 S/L 15637.45 or Day's High
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For Nifty +/- 5/6 Points and for Banknifty +/-10-12 Points, is allowed deviation
Nifty Future (7581-7626/7634-7659-7681/7690-7700-7720)
-------------------------------------------------------------------------------------------------------------------------
Buy Above or Closer to 7670.30 Target1 - 7687.00 Target2 7715.15 Target3 - 7718.40 Target4 - 7743.30 Target5 - 7755.85 Target6 - 7768.45 Target7 - 7793.50 Target8 - 7818.50 S/L 7666.30-(aggr) /7643.26-(Cons)
OR
Buy Closer to or C.O Above 7618.25 Target1 - 7666.30-7670.30 Target2 - 7687.00 Target3 7715.15 Target4 - 7718.40 Target5 - 7743.30 Target6 - 7755.85 Target7 - 7768.45 Target8 - 7793.50 Target9 - 7818.50 S/L 7618.25 or Day's Low
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Sell Below or Closer to 7666.30 Target1 - 7649.60 Target2 - 7621.40 Target3 - 7618.25 Target4 - 7593.30 Target5 - 7580.75 Target6 - 7568.15 Target7 - 7543.10 Target8 - 7518.10 S/L 7670.30-(aggr) /7693.34-(Cons)
OR
Sell Closer to or C.O Below 7718.35 Target1 - 7670.30-7666.30 Target2 - 7649.60 Target3 - 7621.40 Target4 - 7618.25 Target5 - 7593.30 Target6 - 7580.75 Target7 - 7568.15 Target8 - 7543.10 Target9 - 7518.10 S/L 7718.35 or Day's High
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Banknifty Future(15157-15315-15489-15511-15563-15593/15608)
-------------------------------------------------------------------------------------------------------------------------
Buy Above or Closer to 15478.05 Target1 - 15492.70 Target2 15520.85 Target3 - 15549.00 Target4 - 15637.45 Target5 - 15719.15 Target6 - 15800.89 Target7 - 15882.60 Target8 - 15964.33 S/L 15469.95-(aggr) /15392.30-(Cons)
OR
Buy Closer to or C.O Above 15310.55 Target1 - 15469.95-15478.05 Target2 - 15492.70 Target3 15520.85 Target4 - 15549.00 Target5 - 15637.45 Target6 - 15719.15 Target7 - 15800.89 Target8 - 15882.60 Target9 - 15964.33 S/L 15310.55 or Day's Low
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Sell Below or Closer to 15469.95 Target1 - 15455.30 Target2 - 15427.20 Target3 - 15399.00 Target4 - 15310.55 Target5 - 15228.85 Target6 - 15147.11 Target7 - 15065.40 Target8 - 14983.65 S/L 15478.05-(aggr) /15555.70-(Cons)
OR
Sell Closer to or C.O Below 15637.45 Target1 - 15478.05-15469.95 Target2 - 15455.30 Target3 - 15427.20 Target4 - 15399.00 Target5 - 15310.55 Target6 - 15228.85 Target7 - 15147.11 Target8 - 15065.40 Target9 - 14983.65 S/L 15637.45 or Day's High
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Nifty Spot Hourly Chart EOD 10th June, 2014
e-leg of the 2nd corrective on course and may have the following targets in another 11 days or more
7718 - Target 1
7823 - Target 2
7938 - Target 3
Worry only if Nifty spot starts trading below 7563.5.
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