NIFTY Levels - for 22nd Oct 2012:
1) Nifty Future closed @ 5687 down by 50 point. A GAP down is expected due to US market.. but Overall it seems a BEAR TRAP for Coming month.
2) Pattern:- Head & Shoulder Pattern in Progress in Daily charts. The neckline is at 5640. Closing below this can give move of 150 pts
3) Nifty Futures SR Levels/ Zones for Intraday :-
Resistance @ 5694-5698, 5723-5730, 5757-5766, 5784-5788, 5835-5843
Support @ 5670-5664, 5647-5639, 5597-5593
4) Open Interest:- Highest OI in 5800 Call (106 lacs) & 5600 Put (67 Lacs). OI reduced in Puts, so this week may see a breakdown below 5600.
5) Daily TF :-
-> Bollinger :- Consolidation
-> RSI :- Up Trend
-> Stoc (14,3,3) :- Bearish
6) 30 min TF :-
-> Bollinger :- Downtrend
-> MACD (9,19,6) :- Bearish
-> RSI :- Downtrend
-> Stoc (14,3,3) :- Downtrend
7) NF Gaps to be Noted:
-> 5280 - 5313
-> 5457 - 5526
-> 5554 - 5575
BUY : If 5630 not broken with Close, BUY tomorrow..
SELL: If 5630 broken with close below it.
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