Nifty is taking support @ Gann Angle which is @
5630. If nifty breaks 5630 then it may go to 5566 level which is again a
Gann angle support. Resistence levels are 5830, 5869 and support levels
are 5630, 5566. Until & unless this range is not broken, a big move will not be seen.
From the last 3 days continuously TCS is taking
support @ 1285 which is Gann Angle support. If tomorrow (12th Oct/2012) this level is
broken downside then TCS will take support @ 1192, and if tomorrow this
level is not broken then TCS will fly to 1460 odd levels. Go long if TCS is able to close above 1285 level with Stoploss @ 1260.
Today in daily chart Nifty made an outside bar which means if tomorrow nifty crosses today's high then one can go long and if nifty goes below today's low then one should go short without any fear. One more thing today nifty has taken support exactly @ the weekly gann angle @ 5635. Support @ 5635, 5520 and resistance @ 5840,5869.Attaching two charts Nifty_Daily & Nifty_Weekly
JPAssociate fell down from 90 - 82.5. It has achieved its 1st target as today's (10/10/2012) low was 82.5. See the attached chart. One should now book 90% of their holdings and trail their stoploss @ 90 (the entry level).
For Nifty Spot, as stated earlier that 5735 is a very strong resistance level. If nifty is able to close above 5735 only then strength will come and then nifty can go to the 5850-5860 levels. Major supports are 5638, 5535, 5435 and Major resistance are 5735, 5850-5869.
JP Associate is @ "1 X 1" Gann angle that means it very much near to a major resistance level. Also it is making a Double Top @ this level. One can short JP Associate @ 90 with Stoploss @ 92 (Closing basis). 1st Target is 82.6.
