Murrey Math and Options data based position - EOD 22nd July, 2014

Update

Resilience in Nifty and Signs of strength Visible. It is possible Nifty bases itself between 7700-7800 Zone for next 3 days, completes f-leg and proceeds with g-leg up for 8000 and above levels in August, 2014. Positive macro and monsoon recovery might have removed / absorbed the negatives. 

Update on Nifty Future

Short call has yielded result from the desired zone after some delay.

Update

7731.05 Nifty Spot will remain key now. Long above it and short below it.

Update on Nifty Future

Short triggered with Day High (7748.8) as S/L. Since bias hasn't changed yet (See Education) the call may have 10-20 points target only and may turn out to be a low probability call.  If the S/L triggers it would require another 3 Min bar to close below 7740.45 for going short once again else we get back to the old long call which is running for higher Targets.

Update on Nifty Future

Need one 3 min bar close below 7740.45(sell Level2) to short Nifty Future else longs are fine.

Update on Nifty Future

7740(Sell Level2) -7764(Day Shocker) continuous  resistance is there. Bias or trend (See Education)  has been up and a bias change will confirm commencement of e-leg of extracting triangle or commencement of larger G-Leg.

Update on Nifty Spot

Nifty Spot is now at significant resistance zone between 7730(80% Retracement) -7740(Month H3).

Update on Nifty Future

Open above Target1 (7704.90) was bullish and held Target1 (7704.90) to achieve Target2 (7733.05) and Target3 (7740.50) and now near the strong Sell Zone (7740-7750).

Update

Commodities Blog Updated.

Pre-Market Levels For 22nd July, 2014 Working

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

7690-7740 is enormous resistance for Nifty Spot and if cleared well, will become big support for the Month and vice versa.
Nifty Future
Weak below 7684-7688 and Strong above it.   Main Support 7608 and 7638 - 7648 and   Main Resistances 7706-7713 and 7740-7750.   7764 is Day Shocker.  Day SAR is at 7631.  7567 (Sustaining Below) is Final S/L for Longs.
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Buy Above or Closer to 7688.20 Target1 - 7704.90  Target2 7733.05 Target3 - 7740.50  Target4 - 7761.20 Target5 - 7777.95 Target6 - 7794.70 Target7 - 7821.85 Target8 - 7848.95 S/L 7684.20-(aggr) /7659.05-(Cons)
OR
Buy Closer to or C.O Above 7631.95 - 7639.40  Target1 - 7667.50  Target2 - 7684.20-7688.20 Target3 - 7704.90  Target4 7733.05 Target5 - 7740.50  Target6 - 7761.20 Target7 - 7777.95 Target8 - 7794.70 Target9 - 7821.85 Target10 - 7848.95 S/L 7631.95 or Day's Low  
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Sell Below or Closer to 7684.20 Target1 - 7667.50  Target2 - 7639.40  Target3 - 7631.95 Target4 - 7611.20 Target5 - 7594.45 Target6 - 7577.70 Target7 - 7550.55 Target8 - 7523.45 S/L 7688.20-(aggr) /7713.33-(Cons)
OR
Sell Closer to  or C.O Below 7740.45 Target1 - 7688.20-7684.20 Target2 - 7667.50  Target3 - 7639.40  Target4 - 7631.95 Target5 - 7611.20 Target6 - 7594.45 Target7 - 7577.70 Target8 - 7550.55 Target9 - 7523.45 S/L 7740.45 or Day's High    
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Banknifty Future
Weak below 15407-15415 and Strong above it.  Main Support 15309-15385 and 15441-15456 and   Main Resistances 15528-15534 and 15609-15634.  15762 is Day Shocker. Day SAR is at 15065. 15385 (Sustaining Below) is First S/L for Longs.
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Buy Above or Closer to 15414.65 Target1 - 15429.40  Target2 15457.50 Target3 - 15485.70  Target4 - 15586.50 Target5 - 15674.40 Target6 - 15762.30 Target7 - 15850.25 Target8 - 15938.15 S/L 15406.65-(aggr) /15322.75-(Cons)
OR
Buy Closer to or C.O Above 15234.80 - 15363.80  Target1 - 15392.00  Target2 - 15406.65-15414.65 Target3 - 15429.40  Target4 15457.50 Target5 - 15485.70  Target6 - 15586.50 Target7 - 15674.40 Target8 - 15762.30 Target9 - 15850.25 Target10 - 15938.15 S/L 15234.80 or Day's Low  
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Sell Below or Closer to 15406.65 Target1 - 15392.00  Target2 - 15363.80  Target3 - 15335.65 Target4 - 15234.80 Target5 - 15146.90 Target6 - 15059.00 Target7 - 14971.05 Target8 - 14883.15 S/L 15414.65-(aggr) /15498.55-(Cons)
OR
Sell Closer to  or C.O Below 15586.50 Target1 - 15414.65-15406.65 Target2 - 15392.00  Target3 - 15363.80  Target4 - 15335.65 Target5 - 15234.80 Target6 - 15146.90 Target7 - 15059.00 Target8 - 14971.05 Target9 - 14883.15 S/L 15586.50 or Day's High  
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Update

Stocks blog updated.