Correction confirmation of 2012 Rally

Nifty-EOD Chart(24-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Up moves in rising channel.
2- 1098.80 Nifty Points rally in 45 sessions
2- Rising channel broken down.

Conclusions from EOD chart analysis 

2012 Strong rally in  rising channel and its Correction confirmation through rising channel broken down.

All 7 Supports of 2012 Rally

Nifty-EOD Chart(24-Feb-2012):-

Just click on chart for its enlarged view

All 7 Supports of 2012 Rally

1- Strong support and base formation between 4532-4670
2- Minor support between 4590-4640
3- Strong support between 4680-4760
4- Support between 4810-4900
5- Minor support between 4992-5068
6- Support between 5120-5190
7- Strong support between 5340-5415

One Resistance of 2012 Rally

1- Resistance through 3 days selling between 5588-5625

Conclusions from EOD chart analysis 

Nifty got support through consolidation in 7 ranges and staged 1098.80 Points run away rally in 45 sessions. Now correction is on after 3 days good selling between 5588-5625 and market requires complete consolidation for fresh rally. It is confirm that Nifty will get support at any one of above support ranges and breaking down of a support range will mean fast down move toward next support therefore above support ranges can be used for long trades after fresh consolidation confirmations and for shorting after formations of distribution patterns within any of above mentioned ranges.

Immediate Strong Supports and Resistances

Nifty-EOD Chart(24-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Resistance through 3 days selling between 5588-5625
2- Strong support between 5340-5415
3- Testing of Support range on 24-02-2012
4- Weekly trading range 5340-5625

Conclusions from EOD chart analysis 

Correction commenced after good selling between 5588-5625 therefore complete consolidation is required to cross 5625 and in the same manner strong supports also between 5340-5415 therefore complete distribution is must for slipping below 5340.  Although Nifty tested mentioned support range and closed above it but both supports and resistances both are sufficiently strong and market require complete preparation for breaking out of these 2 Resistance/support ranges.

Expected that Nifty will firstly trade minimum 2/3 sessions between 5340 and 5625 and prepare for next moves and sustaining below 5340 will mean deeper correction after breaking down of strong support ranges,sustaining above 5625 will mean strong rally after correction completion.

FII Trading Data in Derivatives Segment on 24-Feb-2012

FII & DII trading activity in Capital Market Segment on 24-Feb-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 24-Feb-2012 11138.59 2183.29 8955.3

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 24-Feb-2012 1055.99 1892.7 -836.71

Indian Stock Markets Closing Reports(27-Feb-2012)

Main features of today trading are as follows

1- All the Indices closed in Red except IT,Metals and FMCG.
2- Black Candle formation.
3- Testing of crucial supports below 5460.

Ratios

Nifty Put Call Ratio:1.17
Nifty P/E Ratio(24-Feb-2012):19.02

Advances & Declines

BSE Advances : 1086
BSE Declines :  1832
NSE Advances : 462
NSE Declines :  997

Nifty Open Interest Changed Today

Nifty- 5400 CE(Feb)- +127550(+7.75%)
Nifty- 5400 PE(Feb)- +504900(+14.31%)

Nifty- 5500 CE(Feb)- +702900(+27.01%)
Nifty- 5500 PE(Feb)- +235250(+8.02%)

Nifty- 5600 CE(Feb)- +374400(+14.71%)
Nifty- 5600 PE(Feb)- -37000(-2.69%)

Closing 

Nifty- closed at 5,429.30(-54 Points & -0.98%)
Sensex- closed at 17,923.57(-154.93 Points & -0.86% )
CNX Midcap - closed at 7,588.30(-57.85 Points & -0.76%)
BSE Smallcap- closed at 6,857.04(-48.85 Points & -0.71%)

Nifty Spot-Levels & Trading Strategy for 27-02-2012

Nifty Spot-Levels

R3 5614
R2 5567
R1 5498
Avg 5451
S1 5382
S2 5335
S3 5266

Nifty Spot-Trading Strategy

H6 5545     Trgt 2
H5 5519     Trgt 1
H4 5492     Long breakout
H3 5460     Go Short
H2 5450
H1 5439
L1 5418
L2 5407
L3 5397     Long
L4 5365     Short Breakout
L5 5338     Trgt 1
L6 5312     Trgt 2

Nifty(Mar Fut)-Levels & Trading Strategy for 27-02-2012

Nifty(Mar Fut)-Levels

R3 5656
R2 5610
R1 5548
Avg 5502
S1 5440
S2 5394
S3 5332

Nifty(Mar Fut)-Trading Strategy

H6 5595     Trgt 2
H5 5571     Trgt 1
H4 5546     Long breakout
H3 5516     Go Short
H2 5506
H1 5496
L1 5477
L2 5467
L3 5457     Long
L4 5427     Short Breakout
L5 5403     Trgt 1
L6 5378     Trgt 2

Bank Nifty(Mar Fut)-Levels & Trading Strategy for 27-02-2012

Bank Nifty(Mar Fut)-Levels

R3 11155
R2 11006
R1 10807
Avg 10658
S1 10459
S2 10310
S3 10111

Bank Nifty(Mar Fut)-Trading Strategy

H6 10959     Trgt 2
H5 10879     Trgt 1
H4 10799     Long breakout
H3 10703     Go Short
H2 10671
H1 10639
L1 10576
L2 10544
L3 10512     Long
L4 10416     Short Breakout
L5 10336     Trgt 1
L6 10256     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Feb 27 to Mar 02,2012)

Nifty Spot-Weekly Levels

R3 5796
R2 5713
R1 5571
Avg 5488
S1 5346
S2 5263
S3 5121

Nifty Spot-Weekly Trading Strategy 

H6 5655     Trgt 2
H5 5603     Trgt 1
H4 5552     Long breakout
H3 5490     Go Short
H2 5470
H1 5449
L1 5408
L2 5387
L3 5367     Long
L4 5305     Short Breakout
L5 5254     Trgt 1
L6 5203     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(Feb 27 to Mar 02,2012)

Bank Nifty Spot-Weekly Levels

R3 11802
R2 11514
R1 11010
Avg 10722
S1 10218
S2 9930
S3 9426

Bank Nifty Spot-Weekly Trading Strategy 

H6 11303     Trgt 2
H5 11122     Trgt 1
H4 10941     Long breakout
H3 10723     Go Short
H2 10651
H1 10578
L1 10433
L2 10360
L3 10288     Long
L4 10070     Short Breakout
L5 9889     Trgt 1
L6 9708     Trgt 2

Pre-Closing Outlook(24-02-2012)

Following lines were told yesterday in Correction is on & Bulls Watching Next Supports

more down moves possibilities have turned higher and testing of following supports can not be ruled out:-
1- 5428-5461(Gap Support)
2- 5340-5415(Strong support)

Above both supports have been tested today and proved our above projection 100% accurate.

All the Global markets are in Green But Indian markets are under performing and in Red as well as traded most time between Gap Support range(5428-5461) today. Higher levels selling seen after lower levels minor support but breaking down of 5428 is without force also therefore higher levels selling and lower levels buying signals also.

Strong support between 5340-5415 and supports signals above it therefore sustaining beyond today range(5406-5460) will be firstly  watched in next week for the confirmation of correction continuation/completion.

Firstly Watch 5428-5461 (Gap Support)

Mid-session Outlook(24-02-2012)

Following line was told yesterday which proved 100% accurate today after more than .85% down moves today:-

"more down moves possibilities have turned higher"

Just click following topic link and verify our above projection:-

Correction is on & Bulls Watching Next Supports 

Following first support was yesterday in above topic:-

1- 5428-5461(Gap Support)

Nifty is trading within above support for the last 2 hours after forming low at 5428.05. Minor intraday support pattern seen at lower levels today but lot of consolidation and base formation is reuqired for completion of correction. As minor support within mentioned Gap Support therefore sustaining beyond this range will be firstly watched today for next very short term move confirmation.

Correction is on & Bulls Watching Next Supports

Technical Analysis,Researches & Market Outlook (24-02-2012)

Nifty-Intra Day Chart(23-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 5545-5517.
2- Down moves in falling channel.
3- Falling channel broken out.
4- Up moves in rising channel.
5- Selling between 5514-5537.
6- Rising channel broken down.
7- Whole day trading between 5461-5538.

Conclusions from intra day chart analysis 

Following 2 technical positions have been updated previously in Weekly Outlook(Feb 21 to Feb 24,2012)and now being repeated:-

1- 61.8% Retracement level at 5648
2- Crucial resistance is between 5600-5700

Selling between 5588-5625 in 3 previous sessions(17-02-2012 to 22-02-2012) and its confirmation through sharp fall seen on 22-02-2012. As mentioned selling has been just below 61.8% Retracement level and within mentioned resistance range therefore it has been strenghtened as well as resistance at 61.8% Retracement level has been validated. 

Very short term correction is on and intraday selling seen at higher levels today also therefore more down moves possibilities have turned higher and testing of following supports can not be ruled out:-

1- 5428-5461(Gap Support)
2- 5340-5415(Strong support)

Sufficient and strong evidences of correction therefore complete consolidation is required to cross recent resistance(5588-5625) and until Nifty will not sustain above 5625 till then next up move will not be considered. As Nifty has to correct  whole 1099 Nifty points rally therefore more down moves possibility can not be ruled out and Support range of 5340-5415 will be next hope for Bulls because it is strong support range.

FII Trading Data in Derivatives Segment on 23-Feb-2012

FII & DII trading activity in Capital Market Segment on 23-Feb-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 23-Feb-2012 4069.92 3965.37 104.55

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 23-Feb-2012 1453.7 2094.63 -640.93

Indian Stock Markets Closing Reports(23-Feb-2012)

Main features of today trading are as follows

1- Benvhmark Indices closed in Red.
2- Doji Candle formation.
3- Record volume in 77 Nifty points range bound market.

Ratios

Nifty Put Call Ratio:1.13
Nifty P/E Ratio(23-Feb-2012):19.21

Advances & Declines

BSE Advances : 1103
BSE Declines :  1784
NSE Advances : 456
NSE Declines :  1005

Nifty Open Interest Changed Today

Nifty- 5400 CE(Feb)- -303550(-24.42%)
Nifty- 5400 PE(Feb)- +3702350(+54.39%)

Nifty- 5500 CE(Feb)- +2114600(+43.01%)
Nifty- 5500 PE(Feb)- -1629150(-34.97%)

Nifty- 5600 CE(Feb)- +2071550(+33.52%)
Nifty- 5600 PE(Feb)- -3312000(-72.83%)

Closing 

Nifty- closed at 5,483.30(-22.05 Points & -0.40%)
Sensex- closed at 18,078.50(-66.75 Points & -0.37% )
CNX Midcap - closed at 7,646.15(-30.65 Points & -0.40%)
BSE Smallcap- closed at 6,905.89(-63.17 Points & -0.91%)

Nifty Spot-Levels & Trading Strategy for 24-02-2012

Nifty Spot-Levels

R3 5603
R2 5570
R1 5526
Avg 5493
S1 5449
S2 5416
S3 5372

Nifty Spot-Trading Strategy

H6 5560     Trgt 2
H5 5542     Trgt 1
H4 5525     Long breakout
H3 5504     Go Short
H2 5497
H1 5490
L1 5475
L2 5468
L3 5461     Long
L4 5440     Short Breakout
L5 5423     Trgt 1
L6 5405     Trgt 2

Nifty(Mar Fut)-Levels & Trading Strategy for 24-02-2012

Nifty(Mar Fut)-Levels

R3 5673
R2 5632
R1 5585
Avg 5544
S1 5497
S2 5456
S3 5409

Nifty(Mar Fut)-Trading Strategy

H6 5627     Trgt 2
H5 5607     Trgt 1
H4 5587     Long breakout
H3 5563     Go Short
H2 5555
H1 5547
L1 5530
L2 5522
L3 5514     Long
L4 5490     Short Breakout
L5 5470     Trgt 1
L6 5450     Trgt 2

Bank Nifty(Mar Fut)-Levels & Trading Strategy for 24-02-2012

Bank Nifty(Mar Fut)-Levels

R3 11178
R2 11061
R1 10936
Avg 10819
S1 10694
S2 10577
S3 10452

Bank Nifty(Mar Fut)-Trading Strategy

H6 11055     Trgt 2
H5 10999     Trgt 1
H4 10944     Long breakout
H3 10877     Go Short
H2 10855
H1 10833
L1 10788
L2 10766
L3 10744     Long
L4 10677     Short Breakout
L5 10622     Trgt 1
L6 10566     Trgt 2

Pre-Closing Outlook(23-02-2012)

For today trading guidance following topic was posted at 11:16:00AM today:-

Firstly watch today sustaining beyond 5482-5519

Nifty hovered around above range whole day and now trading at 5485 after forming top at 5537.40 and bottom at 5460.80.

Intraday patterns are mixed today and sustaining beyond today trading range will give correction continuation/completion confirmation.

Mid-session Outlook(23-02-2012)

Next moves confirmation range of 5482-5519 was given at 11:16:00AM today and Nifty is hovering around this range. Nifty slipped below it and got support exactly at the top of Gap suopprt(5461) and reversed. Now Nifty is trading above 5519. Sustaining beyond following range will be firstly watched for:-

1- For first indication- 5482-5519
2- For confirmation- 5462-5529

Sustaining beyond above ranges will give correction continuation/completion confirmation..

Firstly watch today sustaining beyond 5482-5519

Post-open Outlook(23-02-2012)

Long Term and Intermediate term trends are up and Short term trend will be down below 5475 therefore sustaining it below should be firstly watched for next down moves confirmations. Confirm 3 sessions selling near 5600 and market require complete consolidations for sustaining above 5630  therefore until Nifty will not sustain above 5630 till then any up move will not be considered.

Next supports were posted yesterday in Correction Confirmation with Sharp Fall:-

1- 5475
2- 5428-5461(Gap Support)
3- 5340-5415(Strong support)

Nifty is trading above first support since opening today and traded first 2 hours between 5482-5519 with mixed intraday patterns. Let market prepare then next moves conclusions will be drawn from intraday patterns within this range and sustaining it beyond will be next moves confirmations.

Firstly watch today sustaining beyond 5482-5519 for next moves confirmations and click following link for 3 Crucial Resistances & 4 Crucial Supports and technical positions of Indian markets:-

Firstly Correction & then Crossing of next
 Resistances(5600-5700)

Correction Confirmation with Sharp Fall

Nifty-Intra Day Chart(22-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 5590-5625
2- Forceful fall.
3- Whole day trading between 5592-5625

Conclusions from intra day chart analysis 

As soon as selling developed then it was updated in following words in Post-open Outlook at 10:27:00AM tpday;- 

Intraday selling seen at higher levels between 5611-5625 today.

Sharp fall after 02:00PM today but its possibility was being told daily in 3 previous sessions

Nifty-Intra Day Chart(Feb 17 to Feb 22,2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 3 sessions intraday charts

1- More than 4 hours selling between 5588-5605 on 17-02-2012.
2- Selling on the back of Greece bailout Package approval news on 21-02-2012.
3- Selling between 5590-5625 on 22-02-2012.

Conclusions (After Putting All Studies Together)

As above selling was seen therefore:-

Although sharp fall was seen after 02:00PM today but its possivilities were updated more than 10 times in last 3 days and specially in following ways;-

1-Following topic was posted on 20-02-2012:-

Slipping below 5500 expected

2- Weekly Outlook of this week was updated with following heading on 20-02-2012:-

Firstly Correction & then Crossing of next Resistances(5600-5700)

3- Following topic was posted 07:10:00 PM on 21-02-2012:-

Very short term correction possibility turning Higher

Following technical positions were updated in Post-open Outlook at 10:27:00AM on 22-02-2012;-

Intraday selling seen at higher levels between 5611-5625 today.

Last 3 Days sideways trading between 5546-5626 and its forceful broken down after 02:00PM today. Previous resistance was between 5600-5700 and follow up selling confirmation within this range means mentioned resistance range turning stronger.

1098 Nifty points strong rally and its short term correction continuation confirmation after Engulfing Bearish Candle today means testing possibility of next supports and following supports will be firstly watched in the coming sessions:-

1- 5475
2- 5428-5461(Gap Support)
3- 5340-5415(Strong support)

Market require complete consolidation for next rally and let this process begun then will be updated in the same manner as has been very latest told:-

1- Many times before the beginning of today down moves.
2- 2012 rally was started to tell from 02-12-2011 and was told more than 100 times told in Dec 2011 and Jan 2012.

Indian Stock Markets Closing Reports(22-Feb-2012)

Main features of today trading are as follows

1- Long Black Candle.
2- All the Indices closed in Red except IT.
3- 3 Days range broken down forcefully.

Ratios

Nifty Put Call Ratio:1.20
Nifty P/E Ratio(22-Feb-2012):19.29

Advances & Declines

BSE Advances : 770
BSE Declines : 2217
NSE Advances : 226
NSE Declines : 1267

Nifty Open Interest Changed Today

Nifty- 5400 CE(Feb)- -468150(-24.32%)
Nifty- 5400 PE(Feb)- -213250(-3%)

Nifty- 5500 CE(Feb)- +1772300(+52.57%)
Nifty- 5500 PE(Feb)- -870700(-14.99%)

Nifty- 5600 CE(Feb)- +1426100(+27.93%)
Nifty- 5600 PE(Feb)- -951000(-16.85%)

Closing 

Nifty- closed at 5,505.35(-101.80 Points & -1.82%)
Sensex- closed at 18,143.89(-284.72 Points & -1.54% )
CNX Midcap - closed at 7,676.80(-304.05 Points & -3.81%)
BSE Smallcap- closed at 6,969.06(-233.06 Points & -3.24%)

Nifty Spot-Levels & Trading Strategy for 23-02-2012

Nifty Spot-Levels

R3 5730
R2 5679
R1 5592
Avg 5541
S1 5454
S2 5403
S3 5316

Nifty Spot-Trading Strategy

H6 5643     Trgt 2
H5 5612     Trgt 1
H4 5580     Long breakout
H3 5542     Go Short
H2 5530
H1 5517
L1 5492
L2 5479
L3 5467     Long
L4 5429     Short Breakout
L5 5397     Trgt 1
L6 5366     Trgt 2

Nifty(Feb Fut)-Levels & Trading Strategy for 23-02-2012

Nifty(Feb Fut)-Levels

R3 5729
R2 5680
R1 5599
Avg 5550
S1 5469
S2 5420
S3 5339

Nifty(Feb Fut)-Trading Strategy

H6 5648     Trgt 2
H5 5618     Trgt 1
H4 5589     Long breakout
H3 5553     Go Short
H2 5541
H1 5529
L1 5506
L2 5494
L3 5482     Long
L4 5446     Short Breakout
L5 5417     Trgt 1
L6 5387     Trgt 2

Bank Nifty(Feb Fut)-Levels & Trading Strategy for 23-02-2012

Bank Nifty(Feb Fut)-Levels

R3 11621
R2 11435
R1 11103
Avg 10917
S1 10585
S2 10399
S3 10067

Bank Nifty(Feb Fut)-Trading Strategy

H6 11291     Trgt 2
H5 11174     Trgt 1
H4 11056     Long breakout
H3 10914     Go Short
H2 10866
H1 10819
L1 10724
L2 10677
L3 10629     Long
L4 10487     Short Breakout
L5 10369     Trgt 1
L6 10252     Trgt 2

Pre-Closing Outlook(22-02-2012)

Live proofs of 100% Accurate Projections in this Blog

Down moves seen today but its possibility was being continuously told in following words:-

Following topic was posted on 20-02-2012

Slipping below 5500 expected


Following topic was posted 07:10:00 PM yesterday:-

Very short term correction possibility turning Higher

Weekly Outlook heading of this week was:-

Firstly Correction & then Crossing of next Resistances(5600-5700)


As soon as selling developed then it was updated in following words in Post-open Outlook at 10:27:00AM tpday;-

Intraday selling seen at higher levels between 5611-5625 today.

Following lines were told more than 5 times in last 6 days:-

more than 4 hours selling between 5588-5605 on 17-02-2012

Correction has begun and next support is at 5475,sustaining below will mean more fall.

Mid-session Outlook(22-02-2012)

3 Days sideways trading between 5546-5626 with lower levels supports and higher levels selling also. As more than 4 hours selling between 5588-5605 on 17-02-2012 therefore until Nifty will not completely consolidate between 5546-5626 till then will not sustain above 5605/5626 and follow up selling will mean deeper correction below 5546.

Today first 2 hours trading between 5574-5626 with higher levels selling 5611-5625. Although minor intraday support also seen at 5574 but more consolidation is required to cross 5626.As running Bull market is on and such markets consolidates at higher levels without much deeper corrections therefore up moves after very short terms corrections within this range(5546-5626) possibility can not be ruled out also despite overbought indicators.Indian markets are open for any side big moves at this moment and sustaining below 5546 will mean deeper correction also therefore cautious appraoach is required..

Indian markets are preparing for next moves between 5546-5626 and sustaining beyond this range will be next decisive moves confirmations therefore should be firstly watched. 

Post-open Outlook(22-02-2012)

Intraday selling seen at higher levels between 5611-5625 today.

FII Trading Data in Derivatives Segment on 21-Feb-2012

Very short term correction possibility turning Higher

Nifty-Micro Analysis of Intra Day Chart For 22-02-2012

Nifty-Intra Day Chart(21-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Intraday patterns are showing consolidations formations today.
2- Whole day without force upmoves.
3- Both rising channels broken down.
3- Whole day trading between 5582-5620

Conclusions from intra day chart analysis 

Although intraday patterns are showing consolidations formations but without force upmoves and on the back of positive news of Greece bailout Package approval therefore selling possibility can not be ruled out today.

More than 4 Hours selling between 5588-5605 on 17-02-2012 and most of time trading between this range with selling signals today also therefore very short term correction possibility is still alive despite more than .75% positive closing today.

Although slipping below 5582 as well as more down moves possibility can not be ruled out but sustaining beyond 5582-5620 will be firstly watched tomorrow for next moves confirmations.

FII & DII trading activity in Capital Market Segment on 21-Feb-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 21-Feb-2012 4091.84 2691.67 1400.17

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 21-Feb-2012 1233.78 2477.93 -1244.15

Indian Stock Markets Closing Reports(21-Feb-2012)

Main features of today trading are as follows

1- Positive news of Greek bailout Package approval led whole day up moves.
2- All the Indices closed in Green except IT.
3- White Candle.

Ratios

Nifty Put Call Ratio:1.30
Nifty P/E Ratio(21-Feb-2012): 19.64

Advances & Declines

BSE Advances : 1676
BSE Declines : 1307
NSE Advances : 882
NSE Declines : 592

Nifty Open Interest Changed Today

Nifty- 5500 CE(Feb)- -839900(-19.29%)
Nifty- 5500 PE(Feb)- +272500(+4.35%)

Nifty- 5600 CE(Feb)- -45550(-0.79%)
Nifty- 5600 PE(Feb)- +1201050(+25%)

Nifty- 5700 CE(Feb)- +721950(+17.08%)
Nifty- 5700 PE(Feb)- +316850(+57.14%)

Closing

Nifty- closed at 5,607.15(+42.85 Points & +0.77%)
Sensex- closed at 18,428.61(+139.26 Points & +0.76% )
CNX Midcap - closed at 7,980.85(+55.70 Points & +0.70%)
BSE Smallcap- closed at 7,202.12(+85.63 Points & +1.20%)

Nifty Spot-Levels & Trading Strategy for 22-02-2012

Nifty Spot-Levels

R3 5691
R2 5656
R1 5631
Avg 5596
S1 5571
S2 5536
S3 5511

Nifty Spot-Trading Strategy

H6 5667     Trgt 2
H5 5653     Trgt 1
H4 5640     Long breakout
H3 5623     Go Short
H2 5618
H1 5612
L1 5601
L2 5596
L3 5590     Long
L4 5574     Short Breakout
L5 5560     Trgt 1
L6 5546     Trgt 2

Nifty(Feb Fut)-Levels & Trading Strategy for 22-02-2012

Nifty(Feb Fut)-Levels

R3 5712
R2 5673
R1 5647
Avg 5608
S1 5582
S2 5543
S3 5517

Nifty(Feb Fut)-Trading Strategy

H6 5687     Trgt 2
H5 5672     Trgt 1
H4 5657     Long breakout
H3 5639     Go Short
H2 5633
H1 5627
L1 5616
L2 5610
L3 5604     Long
L4 5586     Short Breakout
L5 5571     Trgt 1
L6 5556     Trgt 2

Bank Nifty(Feb Fut)-Levels & Trading Strategy for 22-02-2012

Bank Nifty(Feb Fut)-Levels

R3 11445
R2 11344
R1 11273
Avg 11172
S1 11101
S2 11000
S3 10929

Bank Nifty(Feb Fut)-Trading Strategy

H6 11376     Trgt 2
H5 11336     Trgt 1
H4 11296     Long breakout
H3 11249     Go Short
H2 11233
H1 11217
L1 11186
L2 11170
L3 11154     Long
L4 11107     Short Breakout
L5 11067     Trgt 1
L6 11027     Trgt 2

Pre-Closing Outlook(21-02-2012)

Nifty traded between 5546-5605 with intraday selling between 5588-5605 last Friday and Nifty traded most time within this range after positive news of Greek bailout Package approval by Euro zone finance ministers.

Whole day intraday patterns are showing consolidation but upmoves are lacking force and on the back of above mentioned positive news also therefore next upmoves are requiring confirmations through sustaining above last Friday selling range(5588-5605)

Next immediate up moves confirmation will be sustaining above 5605 therefore will be firstly watched tomorrow for next rally confirmations.

Eurozone approves second Greek bailout Package

Euro zone finance ministers sealed a second bailout for debt-laden Greece that will resolve its immediate financing needs but seems unlikely to revive the nation's shattered economy.

After a marathon 13 hours of talks, euro zone officials said ministers had nailed measures to cut Greece's debt to around 121 percent of gross domestic product by 2020, close to their original target of 120, after negotiators for private bondholders offered to accept a bigger loss to help plug the funding gap.

"The financial volume (of the Greek package) is 130 billion euros and debt-to-GDP (will be) 121 percent. Now it's down to work on the statement," one official involved in the negotiations told Reuters. Another confirmed the two figures.

The euro jumped almost half a cent, reversing earlier losses, after Reuters reported a deal had been struck.

Indian markets positive zone trading today morning on the back of above positive news. Next moves confirmation range has already been updated in Post-open Outlook(21-02-2012)

Post-open Outlook(21-02-2012)

As positive news is expected from Europe on Greece therefore volatility in Dow's futures and Asian markets and Indian markets are positive since opening today. Good selling seen between 5588-5605 last Friday therefore very short term correction and down moves are expected in Indian markets and until Nifty will not sustain above 5605 till then next rally will not be considered.

As good news is expected today therefore sustaining beyond 5546-5605 will be firstly watched because Nifty traded with higher levels selling and lower levels mixed patterns within this range last Friday and  this range break out will be next moves confirmation.

NIFTY-Feb F&O-1st Shorting of 17-02-2012-Covering

NIFTY Feb F & O(Shorted on 17-02-2012)-Cover immediately-CMP-5605(Lalit39)

Pre-open Outlook(21-02-2012)

US markets were closed yesterday but Dow's futures was more than 60 points up whole day yesterday therefore all European markets and some Asian markets closed with good gains yesterday. Greece package news led  high volatility in Dow's futures and in all the Asian markets today morning and Asian markets recovered from intraday lower levels in lines with up moves in Dow's futures

Global cues led intraday volatility may be seen in Indian markets also but good selling seen between 5588-5605 last Friday therefore very short term correction and down moves are expected in Indian markets and until Nifty will not sustain above 5605 till then next rally will not be considered.

Firstly Correction & then Crossing of next Resistances(5600-5700)

Technical Analysis,Research & Weekly Outlook  (Feb 21 to Feb 24,2012)

Technical Analysis and Research of EOD and Intra Day Charts,Technical Positions,next possibilities have already been explained in following topics with 4 Charts therefore not being repeated. Just click following topic links and go through detailed analysis for trading in next week:-

1- Slipping below 5500 expected
2- 4 Strong Base Formations & Supports before 2012 Rally
3- Fibonacci Retracement Levels(6338-4532)
4- 3 Crucial Resistances & 4 Crucial Supports

Conclusions (After Putting All Studies Together)

All trends are up after 20-12-2011 strong rally and Nifty tested next resistance range(5600-5700) on 17-02-2012. Nifty has surged 1075 in very short period therefore all the daily indicators are overbought and some are showing negative divergence also therefore minimum Very Short Term correction is technically due now.

Running Bullish rally is on and its characters are as follows:-

1- Market firstly require intraday selling patterns and then follow up selling as well as complete distribution patterns minimum on Daily charts then Short term correction will be seen.
2- One day intraday selling and intraday distribution patterns may result only intraday correction or very short term minor correction if follow up selling develops in the coming sessions.
3- Running Bullish markets complete its corrections in sideways moves and correction is completed at higher levels consolidation also.

Indian markets slipped from intraday higher levels on 17-12-2011 after higher levels intraday good selling and follow up selling on next trading day will mean eruption of above mentioned 3 types of correction in the next week.

As Indian markets have to cross next resistances between 5600-5700 and sentiment is boiling therefore minimum very short term correction is expected in the beginning of next week for cooling down of sentiment as well as in the process of preparation for crossing of next resistance. As last two sessions intraday selling patterns therefore very short term correction is very much possible in the beginning of next week.

Finally rally is expected after completion of possible very short term correction in next week.

Slipping below 5500 expected

Nifty-Intra Day Chart(17-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 4 Hours 45 Minutes selling between 5588-5605
2- Last more than 1 hour mixed intraday patterns between 5546-5573
3- Whole day trading between 5546-5605

Conclusions from intra day chart analysis 

Good selling at higher levels on 17-02-2012 on the back of strong global cues and except this higher levels intrady selling was seen on 16-02-2012 also therefore down moves possibilities in the coming sessions have turned higher and expected that Nifty will slip below 5500 in the coming sessions.