Wednesday, July 23, 2014
Nifty in Double Top
Nifty in double top zone hence some amount of caution is needed and Hourly Oscillators are running overbought.
Update on Nifty Future
Nifty likely to gap up and open above Target1 - 7786.70 and hence opening will be bullish and one can stay long with S/l of 7786.70 (aggr) or 7765.95 (consv.) for the day. One may also look to buy in dips of 20-30 / 65 points as long as bias remains positive.
* Please read Education on Menu item for better trading perspective.
* Please read Education on Menu item for better trading perspective.
Pre-Market Levels For 23rd 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 7760-7764 and Strong above it. Main Support 7727 and 7757 - 7772 and Main Resistances 7789-7805 and 7810-7823. 7790 is Day Shocker. Day SAR is at 7631. 7733 (Sustaining Below) is First S/L for Longs.
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Buy Above or Closer to 7769.95 Target1 - 7786.70 Target2 7814.80 Target3 - 7821.90 Target4 - 7842.95 Target5 - 7859.40 Target6 - 7875.85 Target7 - 7902.80 Target8 - 7929.76 S/L 7765.95-(aggr) /7741.00-(Cons)
OR
Buy Closer to or C.O Above 7714.00 - 7721.10 Target1 - 7749.30 Target2 - 7765.95-7769.95 Target3 - 7786.70 Target4 7814.80 Target5 - 7821.90 Target6 - 7842.95 Target7 - 7859.40 Target8 - 7875.85 Target9 - 7902.80 Target10 - 7929.76 S/L 7714.00 or Day's Low
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Sell Below or Closer to 7765.95 Target1 - 7749.30 Target2 - 7721.10 Target3 - 7714.00 Target4 - 7692.95 Target5 - 7676.50 Target6 - 7660.10 Target7 - 7633.10 Target8 - 7606.15 S/L 7769.95-(aggr) /7794.90-(Cons)
OR
Sell Closer to or C.O Below 7821.90 Target1 - 7769.95-7765.95 Target2 - 7749.30 Target3 - 7721.10 Target4 - 7714.00 Target5 - 7692.95 Target6 - 7676.50 Target7 - 7660.10 Target8 - 7633.10 Target9 - 7606.15 S/L 7821.90 or Day's High
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Banknifty Future
Weak below 15435-15442 and Strong above it. Main Support 15315-15350 and 15406-15432 and Main Resistances 15494-15549 and 15634-15674. 15674 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 15453.95 Target1 - 15468.70 Target2 15496.80 Target3 - 15525.00 Target4 - 15624.40 Target5 - 15711.65 Target6 - 15798.90 Target7 - 15886.15 Target8 - 15973.37 S/L 15445.95-(aggr) /15362.70-(Cons)
OR
Buy Closer to or C.O Above 15275.50 - 15403.10 Target1 - 15431.30 Target2 - 15445.95-15453.95 Target3 - 15468.70 Target4 15496.80 Target5 - 15525.00 Target6 - 15624.40 Target7 - 15711.65 Target8 - 15798.90 Target9 - 15886.15 Target10 - 15973.37 S/L 15275.50 or Day's Low
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Sell Below or Closer to 15445.95 Target1 - 15431.30 Target2 - 15403.10 Target3 - 15374.95 Target4 - 15275.50 Target5 - 15188.25 Target6 - 15101.00 Target7 - 15013.77 Target8 - 14926.53 S/L 15453.95-(aggr) /15537.20-(Cons)
OR
Sell Closer to or C.O Below 15624.40 Target1 - 15453.95-15445.95 Target2 - 15431.30 Target3 - 15403.10 Target4 - 15374.95 Target5 - 15275.50 Target6 - 15188.25 Target7 - 15101.00 Target8 - 15013.77 Target9 - 14926.53 S/L 15624.40 or Day's High
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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 7760-7764 and Strong above it. Main Support 7727 and 7757 - 7772 and Main Resistances 7789-7805 and 7810-7823. 7790 is Day Shocker. Day SAR is at 7631. 7733 (Sustaining Below) is First S/L for Longs.
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Buy Above or Closer to 7769.95 Target1 - 7786.70 Target2 7814.80 Target3 - 7821.90 Target4 - 7842.95 Target5 - 7859.40 Target6 - 7875.85 Target7 - 7902.80 Target8 - 7929.76 S/L 7765.95-(aggr) /7741.00-(Cons)
OR
Buy Closer to or C.O Above 7714.00 - 7721.10 Target1 - 7749.30 Target2 - 7765.95-7769.95 Target3 - 7786.70 Target4 7814.80 Target5 - 7821.90 Target6 - 7842.95 Target7 - 7859.40 Target8 - 7875.85 Target9 - 7902.80 Target10 - 7929.76 S/L 7714.00 or Day's Low
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Sell Below or Closer to 7765.95 Target1 - 7749.30 Target2 - 7721.10 Target3 - 7714.00 Target4 - 7692.95 Target5 - 7676.50 Target6 - 7660.10 Target7 - 7633.10 Target8 - 7606.15 S/L 7769.95-(aggr) /7794.90-(Cons)
OR
Sell Closer to or C.O Below 7821.90 Target1 - 7769.95-7765.95 Target2 - 7749.30 Target3 - 7721.10 Target4 - 7714.00 Target5 - 7692.95 Target6 - 7676.50 Target7 - 7660.10 Target8 - 7633.10 Target9 - 7606.15 S/L 7821.90 or Day's High
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Banknifty Future
Weak below 15435-15442 and Strong above it. Main Support 15315-15350 and 15406-15432 and Main Resistances 15494-15549 and 15634-15674. 15674 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 15453.95 Target1 - 15468.70 Target2 15496.80 Target3 - 15525.00 Target4 - 15624.40 Target5 - 15711.65 Target6 - 15798.90 Target7 - 15886.15 Target8 - 15973.37 S/L 15445.95-(aggr) /15362.70-(Cons)
OR
Buy Closer to or C.O Above 15275.50 - 15403.10 Target1 - 15431.30 Target2 - 15445.95-15453.95 Target3 - 15468.70 Target4 15496.80 Target5 - 15525.00 Target6 - 15624.40 Target7 - 15711.65 Target8 - 15798.90 Target9 - 15886.15 Target10 - 15973.37 S/L 15275.50 or Day's Low
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Sell Below or Closer to 15445.95 Target1 - 15431.30 Target2 - 15403.10 Target3 - 15374.95 Target4 - 15275.50 Target5 - 15188.25 Target6 - 15101.00 Target7 - 15013.77 Target8 - 14926.53 S/L 15453.95-(aggr) /15537.20-(Cons)
OR
Sell Closer to or C.O Below 15624.40 Target1 - 15453.95-15445.95 Target2 - 15431.30 Target3 - 15403.10 Target4 - 15374.95 Target5 - 15275.50 Target6 - 15188.25 Target7 - 15101.00 Target8 - 15013.77 Target9 - 14926.53 S/L 15624.40 or Day's High
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Nifty Spot 4 Hour Chart EOD 22nd July, 2014
Now extracting triangle bet is out. Due to the slow nature of the pullback the current rally can also be the b-leg of the unfinished f-leg or g-leg. FII's are building position in Nifty Future. The bias is running positive since 15th July, 2014. A dash towards 8000 plus is coming soon, if not this month then in the next month.
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