All the global markets are crashed therefore sentiment is completely depressed today morning and retesting of 200-day EMA(5649) is possible today. 5640-5665 is next strong support range and sustaining below 5640 will mean high risk of long term trend turning down.
Expected that Nifty will trade first near 5640-5665 after weak opening today and sustaining beyond will be watched next move confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Pre-Open Market Outlook(20-01-2011)
Sentiment heated due to Union Cabinet reshuffle news therefore voltality seen after profit booking at higher levels and buyinng at lower levels within 5665-5690 yesterday. Pull back rally started from Monday and Nifty was volatile after intraday profit booking and buying within 5665-5745 yesterday. As support seen at lower levels also therefore Monday begun pull back rally is still alive and yesterday range break out will be next move confirmation.
Although Indian markets closed in Red yesterday and sentiment is also depressed but following points will also be kept in mind for deciding next trend:-
1- Bullish Wave-3 is on.
2- Long term trend is still up.
3- 2011 down moves are the result of last week non-stop negative news and not the result of genuine selling.
Support and Correction completion signals seen on Previous Monday and Tuesday but yesterday patterns are showing mixed formations therefore next moves will be decided from follow up moves of today. I mean to say that if follow up selling develops today then minimum 200-Day EMA retesting will be seen and today follow up buying will mean continuation of Monday started rally.
Today trading range will be 5665-5745 and expected that Nifty will prepare first within this range for next moves. Let market prepare then final conclusions will be drawn after today intraday charts analysis.
View is bullish for the reasons expressed in last 3 days outlooks.
Although Indian markets closed in Red yesterday and sentiment is also depressed but following points will also be kept in mind for deciding next trend:-
1- Bullish Wave-3 is on.
2- Long term trend is still up.
3- 2011 down moves are the result of last week non-stop negative news and not the result of genuine selling.
Support and Correction completion signals seen on Previous Monday and Tuesday but yesterday patterns are showing mixed formations therefore next moves will be decided from follow up moves of today. I mean to say that if follow up selling develops today then minimum 200-Day EMA retesting will be seen and today follow up buying will mean continuation of Monday started rally.
Today trading range will be 5665-5745 and expected that Nifty will prepare first within this range for next moves. Let market prepare then final conclusions will be drawn after today intraday charts analysis.
View is bullish for the reasons expressed in last 3 days outlooks.
Trading Strategy for Nifty(Jan Fut)-20-01-2011
H6 5782 Trgt 2
H5 5761 Trgt 1
H4 5740 Long breakout
H3 5715 Go Short
H2 5706
H1 5698
L1 5680
L2 5672
L3 5663 Go Long
L4 5638 Short Breakout
L5 5617 Trgt 1
L6 5596 Trgt 2
Trading Levels for 20-01-11
Nifty Spot Levels for 20-01-11
R3 5823
R2 5785
R1 5738
AVG 5700
S1 5653
S2 5615
S3 5568
Nifty Jan Futures Levels for 20-01-11
R3 5834
R2 5794
R1 5741
AVG 5701
S1 5648
S2 5608
S3 5555
Bank Nifty Jan Futures Levels for 20-01-11
R3 10899
R2 10822
R1 10725
AVG 10648
S1 10551
S2 10474
S3 10377
NIFTY-JAN F&O-1ST BUYING OF 19-01-2011-TRADE
NIFTY(JAN FUT-BUY-POSITIONAL)SL-5719-TGT-5791-CMP-5742
NIFTY(JAN CALL OPTION-BUY-POSITIONAL)-S.P.FOR CALL-5700,5800-NIFTY(JAN FUT)-RATES ARE FOR SL-5719-TGT-5791 FOR ALL OPTIONS-CMP-5742
NIFTY(JAN CALL OPTION-BUY-POSITIONAL)-S.P.FOR CALL-5700,5800-NIFTY(JAN FUT)-RATES ARE FOR SL-5719-TGT-5791 FOR ALL OPTIONS-CMP-5742
Mid-session outlook-(19-01-2011)
Market not showing strength since opening today and profit booking signals seen at higher levels today. Confirmation required from the break out of 5710-5739.
Trading Strategy for Nifty(Jan Fut)-19-01-2011
H6 5802.74 Trgt 2
H5 5786.62 Trgt 1
H4 5770.50 Long breakout
H3 5751.25 Go Short
H2 5744.83
H1 5738.42
L1 5725.58
L2 5719.17
L3 5712.75 Go Long
L4 5712.75 Short Breakout
L5 5677.38 Trgt 1
L6 5661.26 Trgt 2
Trading Levels for 19-01-11
Nifty Spot Levels for 19-01-11
R3 5806
R2 5768
R1 5746
AVG 5708
S1 5686
S2 5648
S3 5626
Nifty Jan Futures Levels for 19-01-11
R3 5828
R2 5785
R1 5758
AVG 5715
S1 5688
S2 5645
S3 5618
Bank Nifty Jan Futures Levels for 19-01-11
R3 10879
R2 10789
R1 10712
AVG 10622
S1 10545
S2 10455
S3 10378
NIFTY-JAN F&O-1ST BUYING OF 18-01-2011-COVERING
NIFTY JAN F & O(BOUGHT ON 18-01-2011)--COVER IMMEDIATELY-CMP-5733
NIFTY JAN F & O(BOUGHT ON 18-01-2011)MESSAGE
NIFTY JAN F & O(BOUGHT ON 18-01-2011)-MARKETS WILL BE VOLATILE THEREFORE HOLD & COVER ONLY AFTER MY COVERING MESSAGE
Rally is On
Pre-Open Market Outlook(19-01-2011)
When most of the market participants was bearish then bullish outlook was projected in following lines in last 2 sessions:-
1- In weekly Outlook on 17-01-2011- Firstly detailed analysis of 200-Day EMA discussed and then in conclusive lines told that:-
"200-Day EMA is next trend decider therefore will be watched first for next moves confirmations but expected that finally Nifty will sustain above and fresh rally will be seen within couple of weeks"
2- In Pre-Open Market Outlook(18-01-2011):-
1- intraday charts showing consolidation patterns within 5640-5690
2- consolidated within 5640-5690 yesterday therefore until Nifty will not sustain below 5640 after fresh selling patterns till then any down move will not be considered.
3- As per my view Indian markets are well prepared for bounce back/V-Shaped recovery/Pull Back Rally and that will be seen from any day in this week.
4- finally Green closing expected today.
Bullish outlook has already been presented in daily and weekly charts analysis in last 2 day days and now intraday charts will confirm next moves therefore yesterday intraday chart analysis is being posted now. 3 following bullish Formations seen in 18-01-2011 Intraday Chart:-
1- Rounding Bottom Support
2- Falling Trendline Break out
3- Support at Falling Trendline
1- 3 Bullish Formations in 18-01-2011 Intraday Chart:-
Down moves started from 05-01-2011 and since then last 10 days intraday charts patterns are as follows:-
1- First 4 sessions fall in "Water fall patterns" on the back of negative news flow and without any specific resistance.
2- Resistance within 5810-5870.
3- Good consolidation within 5635-5700 in last 3 sessions.
2-10 days intraday Analysis chart:-
Conclusions
Strong indications of correction completion and 100% confirmation point will be crossing of next resistance range(5810-5870) as well as zooming up of Indian markets expected after this break out.
Positive market with Green closing expected today.
When most of the market participants was bearish then bullish outlook was projected in following lines in last 2 sessions:-
1- In weekly Outlook on 17-01-2011- Firstly detailed analysis of 200-Day EMA discussed and then in conclusive lines told that:-
"200-Day EMA is next trend decider therefore will be watched first for next moves confirmations but expected that finally Nifty will sustain above and fresh rally will be seen within couple of weeks"
2- In Pre-Open Market Outlook(18-01-2011):-
1- intraday charts showing consolidation patterns within 5640-5690
2- consolidated within 5640-5690 yesterday therefore until Nifty will not sustain below 5640 after fresh selling patterns till then any down move will not be considered.
3- As per my view Indian markets are well prepared for bounce back/V-Shaped recovery/Pull Back Rally and that will be seen from any day in this week.
4- finally Green closing expected today.
Bullish outlook has already been presented in daily and weekly charts analysis in last 2 day days and now intraday charts will confirm next moves therefore yesterday intraday chart analysis is being posted now. 3 following bullish Formations seen in 18-01-2011 Intraday Chart:-
1- Rounding Bottom Support
2- Falling Trendline Break out
3- Support at Falling Trendline
1- 3 Bullish Formations in 18-01-2011 Intraday Chart:-
Down moves started from 05-01-2011 and since then last 10 days intraday charts patterns are as follows:-
1- First 4 sessions fall in "Water fall patterns" on the back of negative news flow and without any specific resistance.
2- Resistance within 5810-5870.
3- Good consolidation within 5635-5700 in last 3 sessions.
2-10 days intraday Analysis chart:-
Conclusions
Strong indications of correction completion and 100% confirmation point will be crossing of next resistance range(5810-5870) as well as zooming up of Indian markets expected after this break out.
Positive market with Green closing expected today.
Pull Back Rally Consolidation Pattern
Consolidation pattern on 17-01-2011
Indian markets consolidated within 5640-5690 whole day on 17-01-2011 and after analysis of intraday patterns following lines were told in Pre-Open Market Outlook(18-01-2011):-
1- intraday charts showing consolidation patterns within 5640-5690
2- consolidated within 5640-5690 yesterday therefore until Nifty will not sustain below 5640 after fresh selling patterns till then any down move will not be considered.
3- As per my view Indian markets are well prepared for bounce back/V-Shaped recovery/Pull Back Rally and that will be seen from any day in this week.
4- finally Green closing expected today.
Indian markets consolidated within 5640-5690 whole day on 17-01-2011 and after analysis of intraday patterns following lines were told in Pre-Open Market Outlook(18-01-2011):-
1- intraday charts showing consolidation patterns within 5640-5690
2- consolidated within 5640-5690 yesterday therefore until Nifty will not sustain below 5640 after fresh selling patterns till then any down move will not be considered.
3- As per my view Indian markets are well prepared for bounce back/V-Shaped recovery/Pull Back Rally and that will be seen from any day in this week.
4- finally Green closing expected today.
Sensex up 224 points, good corporate results help sentiments
Just click on above heading for detailed news
NIFTY-JAN F&O-1ST BUYING OF 18-01-2011-TRADE
NIFTY(JAN F&O-BUY-POSITIONAL)S.P.FOR CALL-5700.5800-BUY AT CMP-5727 (SL AND TGT WILL BE POSTED TOMORROW)
Mid-session outlook-(18-01-2011)
Nifty trading between 5675-5720 since opening today and selling indications seen at higher levels today. As selling indications at higher levels therefore mentioned range will be watched cautiously. Although minor higher level selling indications but feeling litle support at lower level also. Wait and watch policy wil be the best at this moment. Let market prepare within mentioned range and its break out will be next immediate moves confirmations. View is still bullish.
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