Wednesday, July 30, 2014
update on Nifty Spot
Bullish Wolf wave invalidated. Now a Bullish AB=CD in play as under. Has met 61.8% retracement already.
Update on Nifty Spot
Nifty hasn't come out of the falling trendline in Hourly chart as yet. So, buy not generated as yet.
Update on Nifty Spot
Initial options data action suggests put writing at 7700 and may hold this expiry happening tomorrow. A bullish wolf wove is forming / has formed in 15 Min Chart of Nifty Spot should help reach Nifty reach 7820 and above in next few days. Longs may be initiated after breakout above (i.e. Hourly Close Above) the falling hourly trendline, which is at 7756 now and is decreasing by about 5 points every hour.
Pre-Market Levels For 30th July, 2014 Working
Trade the Levels, Charts Can Adjust.
For Nifty +/- 5/6 Points and for Banknifty +/-10-12 Points, is allowed deviation
Nifty Future
Weak below 7735-7737 and Strong above it. Main Support 7739-7746 and 7756-7767 and Main Resistances 7783-7789 and 7803-7819. 7830 is Day Shocker. Day SAR is at 7642. 7743 (Sustaining Below) is First S/L for Longs.
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Buy Above or Closer to 7745.25 Target1 - 7762.00 Target2 7790.10 Target3 - 7793.20 Target4 - 7818.25 Target5 - 7830.70 Target6 - 7843.15 Target7 - 7868.15 Target8 - 7893.15 S/L 7741.25-(aggr) /7718.25-(Cons)
OR
Buy Closer to or C.O Above 7693.30 - 7696.40 Target1 - 7724.60 Target2 - 7741.25-7745.25 Target3 - 7762.00 Target4 7790.10 Target5 - 7793.20 Target6 - 7818.25 Target7 - 7830.70 Target8 - 7843.15 Target9 - 7868.15 Target10 - 7893.15 S/L 7693.30 or Day's Low
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Sell Below or Closer to 7741.25 Target1 - 7724.60 Target2 - 7696.40 Target3 - 7693.30 Target4 - 7668.25 Target5 - 7655.80 Target6 - 7643.35 Target7 - 7618.35 Target8 - 7593.35 S/L 7745.25-(aggr) /7768.25-(Cons)
OR
Sell Closer to or C.O Below 7793.20 Target1 - 7745.25-7741.25 Target2 - 7724.60 Target3 - 7696.40 Target4 - 7693.30 Target5 - 7668.25 Target6 - 7655.80 Target7 - 7643.35 Target8 - 7618.35 Target9 - 7593.35 S/L 7793.20 or Day's High
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Banknifty Future
Weak below 15215-15218 and Strong above it. Main Support 15078-15147 and 15314-15343 and Main Resistances 15373-15385 and 15439-15489. 15373 is Day Shocker. Day SAR is at 15033. 15147 is a great buy level with S/L of 15078.
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Buy Above or Closer to 15234.55 Target1 - 15249.30 Target2 15277.45 Target3 - 15305.60 Target4 - 15395.45 Target5 - 15477.85 Target6 - 15560.25 Target7 - 15642.70 Target8 - 15725.10 S/L 15226.65-(aggr) /15148.20-(Cons)
OR
Buy Closer to or C.O Above 15065.75 - 15183.70 Target1 - 15211.90 Target2 - 15226.65-15234.55 Target3 - 15249.30 Target4 15277.45 Target5 - 15305.60 Target6 - 15395.45 Target7 - 15477.85 Target8 - 15560.25 Target9 - 15642.70 Target10 - 15725.10 S/L 15065.75 or Day's Low
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Sell Below or Closer to 15226.65 Target1 - 15211.90 Target2 - 15183.70 Target3 - 15155.60 Target4 - 15065.75 Target5 - 14983.35 Target6 - 14900.95 Target7 - 14818.50 Target8 - 14736.10 S/L 15234.55-(aggr) /15313.00-(Cons)
OR
Sell Closer to or C.O Below 15395.45 Target1 - 15234.55-15226.65 Target2 - 15211.90 Target3 - 15183.70 Target4 - 15155.60 Target5 - 15065.75 Target6 - 14983.35 Target7 - 14900.95 Target8 - 14818.50 Target9 - 14736.10 S/L 15395.45 or Day's High
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For Nifty +/- 5/6 Points and for Banknifty +/-10-12 Points, is allowed deviation
Nifty Future
Weak below 7735-7737 and Strong above it. Main Support 7739-7746 and 7756-7767 and Main Resistances 7783-7789 and 7803-7819. 7830 is Day Shocker. Day SAR is at 7642. 7743 (Sustaining Below) is First S/L for Longs.
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Buy Above or Closer to 7745.25 Target1 - 7762.00 Target2 7790.10 Target3 - 7793.20 Target4 - 7818.25 Target5 - 7830.70 Target6 - 7843.15 Target7 - 7868.15 Target8 - 7893.15 S/L 7741.25-(aggr) /7718.25-(Cons)
OR
Buy Closer to or C.O Above 7693.30 - 7696.40 Target1 - 7724.60 Target2 - 7741.25-7745.25 Target3 - 7762.00 Target4 7790.10 Target5 - 7793.20 Target6 - 7818.25 Target7 - 7830.70 Target8 - 7843.15 Target9 - 7868.15 Target10 - 7893.15 S/L 7693.30 or Day's Low
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Sell Below or Closer to 7741.25 Target1 - 7724.60 Target2 - 7696.40 Target3 - 7693.30 Target4 - 7668.25 Target5 - 7655.80 Target6 - 7643.35 Target7 - 7618.35 Target8 - 7593.35 S/L 7745.25-(aggr) /7768.25-(Cons)
OR
Sell Closer to or C.O Below 7793.20 Target1 - 7745.25-7741.25 Target2 - 7724.60 Target3 - 7696.40 Target4 - 7693.30 Target5 - 7668.25 Target6 - 7655.80 Target7 - 7643.35 Target8 - 7618.35 Target9 - 7593.35 S/L 7793.20 or Day's High
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Banknifty Future
Weak below 15215-15218 and Strong above it. Main Support 15078-15147 and 15314-15343 and Main Resistances 15373-15385 and 15439-15489. 15373 is Day Shocker. Day SAR is at 15033. 15147 is a great buy level with S/L of 15078.
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Buy Above or Closer to 15234.55 Target1 - 15249.30 Target2 15277.45 Target3 - 15305.60 Target4 - 15395.45 Target5 - 15477.85 Target6 - 15560.25 Target7 - 15642.70 Target8 - 15725.10 S/L 15226.65-(aggr) /15148.20-(Cons)
OR
Buy Closer to or C.O Above 15065.75 - 15183.70 Target1 - 15211.90 Target2 - 15226.65-15234.55 Target3 - 15249.30 Target4 15277.45 Target5 - 15305.60 Target6 - 15395.45 Target7 - 15477.85 Target8 - 15560.25 Target9 - 15642.70 Target10 - 15725.10 S/L 15065.75 or Day's Low
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Sell Below or Closer to 15226.65 Target1 - 15211.90 Target2 - 15183.70 Target3 - 15155.60 Target4 - 15065.75 Target5 - 14983.35 Target6 - 14900.95 Target7 - 14818.50 Target8 - 14736.10 S/L 15234.55-(aggr) /15313.00-(Cons)
OR
Sell Closer to or C.O Below 15395.45 Target1 - 15234.55-15226.65 Target2 - 15211.90 Target3 - 15183.70 Target4 - 15155.60 Target5 - 15065.75 Target6 - 14983.35 Target7 - 14900.95 Target8 - 14818.50 Target9 - 14736.10 S/L 15395.45 or Day's High
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Update on Nifty Spot EOD 28th July, 2014
f-leg inside second corrective is still as a-b-c(going on) flat on or g-leg inside 2nd corrective completed or a-leg of g-leg of 2nd corrective over and b-leg of g-leg is going on? Time will answer. But it is logical to conclude that 7600-7700 will be big support for Nifty in Spot and all corrections are a big buying opportunity.
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