NIFTY-FEB F&O-1ST BTST OF 04-02-2011-COVERING

NIFTY FEB F & O(BTST BOUGHT ON 04-02-2011)-COVER AND BOOK PROFIT IMMEDIATELY-CMP-5402

Weekly Analysis- 07-02-2011 to 11-02-2011

Nifty sustained below 200-Day EMA And Nifty traded whole last week near Wave-3 trend line(5460) but sharply slipped below it in last one hour last Friday as well closed more than 1% down below it. These are technically Bear markets confirmation levels and moves.

Next support are as follows:-

1st Support- 5349
1st Strong Support Range-5210-5349.

It is clear that moving below 5210 will mean steep fall to test levels below 5000 but Nifty will not easily break 5210 because 5210-5349 is strong support range and complete selling requires to break it down.

Oscillators are oversold and also showing positive divergence therefore Minor pull back rally possibility can not be ruled out but long term trend is confirm down and until Nifty will not sustain above 200-Day EMA(5640) till then will not be up.

Weekly top and bottom formed in volatile last Friday(5369-5556) and its break out will be watched first in the coming sessions then final views for remaining whole week will be formed after confirmations.

Nifty(Feb Fut)-Trading Strategy for 07-02-2011

H6 5598 Trgt 2 
H5 5550 Trgt 1 
H4 5502 Long breakout 
H3 5444  Go Short 
H2 5425
H1 5406
L1 5367
L2 5348
L3 5329 Long 
L4 5271 Short Breakout 
L5 5223  Trgt 1 
L6 5175  Trgt 2

Trading Levels for 07-02-11

Nifty Spot Levels for 07-02-2011

R3 5698
R2 5627
R1 5511
AVG 5440
S1 5324
S2 5253
S3 5137

Nifty Feb Futures Levels for 07-02-2011

R3 5726
R2 5646
R1 5516
AVG 5436
S1 5306
S2 5226
S3 5096

Bank Nifty Feb Futures Levels for 07-02-2011

R3 11107
R2 10953
R1 10687
AVG 10533
S1 10267
S2 10113
S3 9847

Nifty Spot Weekly Levels (07 Feb to 11 Feb 2011)

R3 5698 
R2 5627 
R1 5511 
AVG 5440 
S1 5324 
S2 5253 
S3 5137 

NIFTY-FEB F&O-1ST BUYING OF 04-02-2011-TRADE

NIFTY(FEB FUT-BUY-BTST)SL-5324-TGT-5515-CMP-5365
NIFTY(FEB CALL OPTION-BUY-BTST)-S.P.FOR CALL-5400,5500-NIFTY(FEB FUT)-RATES ARE
FOR SL-5324-TGT-5515 FOR ALL OPTIONS-CMP-5365
(NO COVERING TODAY.COVERING WILL BE DONE IN NEXT WEEK)

Pre-Open Market Outlook(04-02-2011)

Following lines were told yesterday after last hour sharp fall following A.Raja arrest one day before:-

"Reasons for next bullish market view have been posted in previous outlooks and expecting rally in the coming weeks after sustaining above 5460."

Technically nothing was left to hope for bull markets except Wave-3 trend line(5460) and I non stop continuously told for the expectations of its survival. It was broken down but Nifty could not sustain below it and recovered nicely yesterday.

Technical requirements for next rally are as follows:-

1- Sustaining above 5460.
2- Sustaining above 200-day EMA(5643).
3- Crossing next resistance range(5680-5800)

As I have already told many times that Jan 2011 sharp down moves are only result of non stop big negative news. Last month begun with strong Bullish outlook and finished with most Bearish notes. Last month sharp falls are only on negative news based without much distribution patterns therefore resistances at higher levels are not much stronger. Let rally begun then sharp upmoves will be seen.

'ABC' correction was on for the last 4 months and its 'c' wave has been finished in last 3 sessions move near 5460. Fresh rally expected after 4 months correction completion.

Positive closing expected today.

Nifty(Feb Fut)-Trading Strategy for 04-02-2011

                                                              
H6 5661  Trgt 2 
H5 5633 Trgt 1 
H4 5605 Long breakout 
H3 5572  Go Short 
H2 5561
H1 5550
L1 5528
L2 5517
L3 5506  Long 
L4 5473 Short Breakout 
L5 5444  Trgt 1 
L6 5416  Trgt 2

Trading Levels for 04-02-11

Nifty Spot Levels for 04-02-2011 

R3 5682
R2 5607
R1 5567
AVG 5492
S1 5452
S2 5377
S3 5337

Nifty Feb Futures Levels for 04-02-2011

R3 5702
R2 5624
R1 5581
AVG 5503
S1 5460
S2 5382
S3 5339

Bank Nifty Feb Futures Levels for 04-02-2011

R3 11117
R2 10931
R1 10816
AVG 10630
S1 10515
S2 10329
S3 10214

RIL & ICICI BANK-FEB F&O-1ST BUYING OF 02-02-2011-COVERING

RIL & ICICI BANK- FEB F & O(BOUGHT ON 02-02-2011)-COVER AND BOOK PROFIT IMMEDIATELY-CMP-937 & 1032

Hold all long trades which I have given

I always post covering message therefore wait only for that.

TATA MOTORS-FEB F&O-1ST BUYING OF 02-02-2011-COVERING

TATA MOTORS- FEB F & O(BOUGHT ON 02-02-2011)-TARGET ACHIEVED.COVER AND BOOK PROFIT IMMEDIATELY-CMP-1130

Pre-Open Market Outlook(03-02-2011)

Indian markets traded strong after gap up opening but A.Raja arrest news spearheaded bulls in last half hour and Indian markets closed with minor gains yesterday. Lot of uncertainity due to Raja arrest and Egypt internal problems therefore first of all 5460 will be watched because that will give 100% confirmation that Wave-3 trendline is survived or not. All crociaal supports have broken dowm and only 5460 is left as well as Nifty is hovering around for the last 3 sessions.

Inflation data today therefore some amount of voltality will also be possible. As per my view  sustaining beyond 5460 should be watched today because news based voltality is high and intraday charts are also showing mixd formations.

Reasons for next bullish market view have been posted in previous outlooks and expecting rally in the coming weeks after sustaining above 5460.

Nifty(Feb Fut)-Trading Strategy for 03-02-2011

H6 5531  Trgt 2
H5 5511  Trgt 1
H4 5490  Long breakout
H3 5466   Go Short
H2 5458
H1 5450
L1 5433
L2 5425
L3 5417   Long
L4 5393 Short Breakout
L5 5372  Trgt 1
L6 5352  Trgt 2

Trading Levels for 03-02-11

Nifty Spot Levels for 03-02-2011

R3 5551
R2 5521
R1 5476
AVG 5446
S1 5401
S2 5371
S3 5326

Nifty Feb Futures Levels for 03-02-2011

R3 5583
R2 5546
R1 5494
AVG 5457
S1 5405
S2 5368
S3 5316

Bank Nifty Feb Futures Levels for 03-02-2011

R3 10795
R2 10717
R1 10607
AVG 10529
S1 10419
S2 10341
S3 10231

RCOM-FEB F&O-1ST BUYING OF 02-002-2011-TRADE

RCOM(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-115.90-TGT-128-S.P.FOR CALL-120,130-CMP-119.45
(ALL RATES ARE SPOT)

ICICI BANK-FEB F&O-1ST BUYING OF 02-002-2011-TRADE

ICICI BANK(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-988-TGT-1058-S.P.FOR CALL-1000,1150-CMP-1015
(ALL RATES ARE SPOT)

RIL & TATA MOTORS-FEB F&O-1ST BUYING OF 02-002-2011-TRADE

RIL(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-894-TGT-948-S.P.FOR CALL-920,940-CMP-918
TATA MOTORS(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-1168-TGT-1128-S.P.FOR CALL-1100,1150-CMP-1086

(ALL RATES ARE SPOT)

Pre-Open Market Outlook(02-02-2011)

ABC correction is on and Wave-3 trendline broken(5460) down yesterday after sustaining below 200 day EMA(5646). Yesterday candle was Engulfing Bearish and it is also bearish move indication. All the technical indicators are signalling bearish market begining but following mild signals are telling for wait and watch a little before forming bearish market view:-

1-Although Indian markets closed more than 1% down yesterday but intraday charts of yesterday are not suggesting selling patterns therefore yesterday trading range(5400-5450) should be watched for bearish market confirmation.

2- Indicators are oversold and some are showing divergence also therefore bounce back posibility can not be ruled out.

Conclusion:-


All the confirmations of bearish markets begining but still Bullish markets expected because no Distribution pattern and only correction patterns. Still expecting rally and breaking out of 5400-5450 will be watched first for next immediate move confirmation.

Nifty(Feb Fut)-Trading Strategy for 02-02-2011

 H6 5559   Trgt 2
H5 5529   Trgt 1
H4 5500   Long breakout
H3 5464   Go Short
H2 5452
H1 5440
L1 5416
L2 5403
L3 5391   Long
L4 5356  Short Breakout
L5 5326  Trgt 1
L6 5297  Trgt 2

Trading Levels for 02-02-11

Nifty Spot Levels for 02-02-2011 

R3 5637
R2 5587
R1 5502
AVG 5452
S1 5367
S2 5317
S3 5232

Nifty Feb Futures Levels for 02-02-2011

R3 5652
R2 5597
R1 5512
AVG 5457
S1 5372
S2 5317
S3 5232

Bank Nifty Feb Futures Levels for 02-02-2011

R3 10902
R2 10811
R1 10652
AVG 10561
S1 10402
S2 10311
S3 10152