Mid-session Outlook(08-04-2011)

Nifty traded 3 days between 5855-5945 and technical positions within this range has already been explained in 3 previous outlooks. Certainly Indian markets under performed Asian markets,slipped sharply in first hour,moved below 5855 but not sustained below 5855 also and trading between 5943-5870. It means market has not given breaking down confirmation yet despite slipping below lower levels.

5857-5870 was base formation range of 05-04-2011 and Nifty is trading betwen this range after 1st hour slipping. Breaking out conclusions of this range will be as folluws:-

1- Sustaining above 5870 will mean revival of up move hopes and testing possibility of levels up to 5945.

2- Sustaining below 5857 will mean deeper correction.

 

Although 5855 broken down today but confirmation required and final view should be formed according to break out of 5843-5870

Post-open Outlook(08-04-2011)

Although all the Asian markets turned positive after flat opening and sentiment improved but Indian markets slips from day's higher levels and trading in Red because correction is on.

Confirmation levels have already been expressed in 2 previous outlooks therefore final conclusions will be drawn according to that. Nifty is trading at 5859 and today low is at 5855.40. Sustaining below 5855 will mean certain deeper correction.

Pre-Open Market Outlook(08-04-2011)

Following line was told in Post-closing Report(25-03-2011) & Monday Outlook:-

"21st March 2011 started rally minimum target is 5911"

More than 10 times only 5900 was told after above line and rally halted exactly at 5900 and Nifty is hovering it around for the last 3 days.

Sentiment were heated,Indicators were overbought and 596 points rally seen in 12 sessions therefore correction was natural and being seen for the last 3 days. Market may correct in narrow range or little deeper down moves and it will be decided through last 3 days broader range(5855-5945). Next moves after break out of last 3 days range(5855-5945) will be as follows:-

1- Crossing and sustaining above 5945 will mean 6120 fast
2- Slipping and sustaining below 5855 will mean deeper correction.

Market is not prepared for any side moves and will take its own time in this process. Global cues are quiet today morning and Nifty will trade first within 5870-5915. Technical positions within both ranges have alreay been discussed yesterday in "Post-closing Report(07-04-2011) & Tomorrow Outlook" and not being repeated today.

As I told in last 3 days same is repeating today that let market prepare then final conclusions will be drawn from intraday patterns. Last 3 days closing is also almost flat without much gains or loss. Real moves will be seen after break out of mentioned ranges therefore will be better to wait for its happening and next real moves confirmations.

Post-closing Report(07-04-2011) & Tomorrow Outlook

Nifty Candle- Doji(Confusion)
Nifty Intra day trading patterns- Mixed Formations
Nifty trading range- 5867-5906
Consolidation between- 5867-5680
Distribution between- 5888-5905

Whole day narrow range market with intraday supports at lower levels and resistance at higher levels. Mid cap Cap and BSE Small Cap Indices with good gains and positive trading patterns

Put Call Ratio : 1.05

Advances & Declines:

NSE ADVANCES : 1,921
NSE DECLINES : 1,037
BSE ADVANCES : 1,460
BSE DECLINES :   687

Nifty Open Interest Changed Today:-

Nifty- 5800 CE(28APR2011)- +25350(+0.59%)
Nifty- 5800 PE(28APR2011)- +553200(+10.73%)

Nifty- 5900 CE(28APR2011)- +902150(+17.26%)
Nifty- 5900 PE(28APR2011)- +661450(+20.37%)

Nifty- 6000 CE(28APR2011)- +222400(+3.46%)
Nifty- 6000 PE(28APR2011)- -34900(-1.88%)

Closing :-

Nifty- closed at 5,885.70(-6.05 Points & -0.10%)
Sensex- closed at 19,591.18(-21.02 Points & -0.11% )
CNX MIDCAP - closed at 8,419.05(+77.05 Points & +0.92%)
BSE SMALL CAP- closed at 8,897.19(+110.25 Points & +1.25%)

Nifty Intra Day Chart of Today:-

Just click on chart for its enlarged view

Tomorrow(08-04-2011) Outlook


Mixed formations and Indian markets are not prepared for any side decisive moves. Firstly trading between 5870-5910 and sustaining beyond this range will give strong indication of break out side of broader range(5855-5945).
          
Trending market is expected in next week after break out of mentioned last 3 days brodaer range and Nifty will trade within this range tomorrow. .

Trend Deciding Intra Day Ranges

Following Ranges developed in last 3 days intra day charts:-

1- Broader Range and its break out will give next big moves confirmations - 5857-5945

2- Narrow Range and its break out will give first strong indication of next moves- 5870-5915

Just click on chart for its enlarged view

Patterns within above ranges are:-

1- 05-04-2011- Support between- 5857-5870

2- 06-04-2011- Selling between- 5880-5910

3- 07-04-2011- Support between- 5867-5680

                         Selling between- 5888-5905

Next strong moves will be decided from the break out and sustaining beyond above ranges. Indian markets will prepare within mentioned ranges in the same manner as prepared today and break out will generate sharp moves.

FII & DII trading activity in Capital Market Segment on 07-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 07-Apr-2011 2675.95 2455.36 220.59

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 07-Apr-2011 881.68 1093.84 -212.16

FII Trading Data in Derivatives Segment on 07-Apr-2011

Nifty Spot-Levels & Trading Strategy for 08-04-2011

Nifty Spot-Levels

R3 5912
R2 5909
R1 5897
Avg 5894
S1 5882
S2 5879
S3 5867

Nifty Spot-Trading Strategy

H6 5899     Trgt 2
H5 5896     Trgt 1
H4 5893     Long breakout
H3 5889     Go Short
H2 5887
H1 5886
L1 5883
L2 5882
L3 5880     Long
L4 5876    Short Breakout
L5 5873    Trgt 1
L6 5870    Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 08-04-2011

Nifty(Apr Fut)-Levels

R3 5980
R2 5956
R1 5929
Avg 5905
S1 5878
S2 5854
S3 5827

Nifty(Apr Fut)-Trading Strategy

H6 5953     Trgt 2
H5 5941     Trgt 1
H4 5930     Long breakout
H3 5916     Go Short
H2 5911
H1 5906
L1 5897
L2 5892
L3 5887     Long
L4 5873     Short Breakout
L5 5862     Trgt 1
L6 5850     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 08-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12067
R2 11971
R1 11886
Avg 11790
S1 11705
S2 11609
S3 11524

Bank Nifty(Apr Fut)-Trading Strategy

H6 11983     Trgt 2
H5 11942     Trgt 1
H4 11900     Long breakout
H3 11850     Go Short
H2 11834
H1 11817
L1 11784
L2 11767
L3 11751     Long
L4 11701    Short Breakout
L5 11659     Trgt 1
L6 11618     Trgt 2

Pre-closing Outlook(07-04-2011)

Followimg lines were told in Pre-open Outlook today:-

"Firstly trading will be betweeen 5880-5915"

Nifty traded most of the time between mentioned range. Intra day consolidation and support developed between 5867-5680 today and when up moves started then rally confirmation levels(5910) was posted for traders safety in Mid-session Outlook and Nifty reversed without giving rally confirmations.

Market is range bound near 5900 and preparing for decisive big moves within 5855-5945 and selling at higher levels and buying at lower levels seen within this range. Crossing and sustaining above 5945 is expected but final conclusion well be drawn after coming sessions intra day charts analysis.

Mid-session Outlook(07-04-2011)

Intra day consolidation and support developed between 5867-5680 today. Up moves started and first confirmation rally is above 5910

Post-open Outlook(07-04-2011)

As selling signals yesterday therefore slipping was expected today. Selling signals between 5880-5910 was told during trading hours yesterday and base formations between 5857-5870 was told on 05-04-2011. Nifty moved below 5880 and got intraday first support near 5870 today. 5857-5870 is first support whole rally is safe above it. Follow up moves today will decide next moves today. I clearly mean to day that:-

1- Follow up selling today will mean breaking down below 5855 and deeper correction.
2- Consolidation today will mean yesterday started very short term correction completion.

Nifty is trading between last 2 days ranges and break out of these ranges will give next moves first strong indication;-

05-04-2011- 5857-5870(Base formation and support)
06-04-2011- 5880-5910(selling signals)

Pre-Open Market Outlook(07-04-2011)

Technical Positions,today Outlook and next possibilities have already been posted in following topic with 1 Chart yesterday therefore not being repeated today:-

"Post-closing Report(06-04-2011) & Tomorrow Outlook"

It was clearly told during trading hours yesterday that intraday charts are showing selling signals between 5880-5910 and supressed sentiments today due to weak Asian markets and hike in Crude rates in internetional markets.

Base formation and support between 5857-5870 on 05-04-2011 and deeper correction confirmation point will be below 5855. Firstly trading will be betweeen 5880-5915 and next moves confirmation range is sustaining beyond 5855-5945.

As selling signals yesterday therefore dipping is possible after subdued weaker sentiment today morning and today follow up selling will mean deeper correction. Final views will be formed after watching today intra day charts.

Post-closing Report(06-04-2011) & Tomorrow Outlook

Intra day correction,Nifty traded most of the time between 5885-5915 with selling signals and many pivotal stocks also showed intraday selling patterns today. Whole market or most of the market is not indicating selling but on the other hand suggesting buying. Final conclusion from today intra day patternd is that patterns are mixed and more preparation is required in the coming sessions for any side decisive moves.

Put Call Ratio : 1.03

Advances & Declines:

NSE ADVANCES : 1780
NSE DECLINES : 1167
BSE ADVANCES :  864
BSE DECLINES :  549

Nifty Open Interest Changed Today:-

Nifty- 5800 CE(28APR2011)- +178750(+4.34%)
Nifty- 5800 PE(28APR2011)- +443800(+8.99%)

Nifty- 5900 CE(28APR2011)- +691000(+14.96%)
Nifty- 5900 PE(28APR2011)- +507100(+18.51%)

Nifty- 6000 CE(28APR2011)- +561650(+9.24%)
Nifty- 6000 PE(28APR2011)- +68600(+3.84%)

Closing :-

Nifty- closed at 5891.75(-18.30 Points & -0.31%)
Sensex- closed at 19612.20(-74.62 Points & -0.38% )
CNX MIDCAP - closed at 8342.00(+36.00 Points & +0.43%)
BSE SMALL CAP- closed at 8786.94(+68.22 Points & +0.78%)

Nifty Intra Day Chart of Today:-

Just click on chart for its enlarged view

Tomorrow(07-04-2011) Outlook

Mixed formations today and it means that Indian markets are not prepared for any side decisive moves and Nity will first prepare for next moves within 5885-5915.
  
Following range break out and sustaining beyond will give following conclusions:-

1 1st range is 5885-5915 and its break out will be strong confirmation of testing of next higher(5945)/lower(5855) levels.

2- 2nd range is 5855-5945 and its break out direction will be first derived from break out of above mentioned 1st range. Break out of this range will decide following next moves:-

1- Sustaining above 5945 will mean 6120 fast.
2- Sustaining below 5855 will mean deeper correction

As sentiment was heated,Indicators were overbought therefore very short term correction was expected and seen. Firstly trading between 5885-5915,finally consolidation between 5855-5945 and after that rally above 5915 expected in the coming sessions. As mixed patterns therefore for precaution break out of 5885-5915 will be watched also.

Next Big Moves Confirmations ?

Just click on chart for its enlarged view

Nifty traded most of the time between 5885-5915 today and selling signals observed between this range. At lower levels immediate support and base formation is between 5857-5870 yesterday.

Following range break out and sustaining beyond will give following conclusions:-

1 1st range is 5885-5915 and its break out will be strong confirmation of testing of next higher(5945)/lower(5855) levels.

2- 2nd range is 5855-5945 and its break out direction will be first derived from break out of above mentioned 1st range. Break out of this range will decide following next moves:-

1- Sustaining above 5945 will mean 6120 fast.

2- Sustaining below 5855 will mean deeper correction

Although selling signals between 5885-5915 today but I am expecting consolidation and finally crossing of 5945 in the coming sessions. Above levels have been given for safety also.

FII & DII trading activity in Capital Market Segment on 06-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 06-Apr-2011 2856.44 2327.97 528.47

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 06-Apr-2011 1118.81 1649.86 -531.05

Nifty Spot-Levels & Trading Strategy for 07-04-2011

Nifty Spot-Levels

R3 6010
R2 5977
R1 5934
Avg 5901
S1 5858
S2 5825
S3 5782

Nifty Spot-Trading Strategy

H6 5967     Trgt 2
H5 5950     Trgt 1
H4 5932     Long breakout
H3 5911     Go Short
H2 5904
H1 5897
L1 5884
L2 5877
L3 5870     Long
L4 5849     Short Breakout
L5 5831     Trgt 1
L6 5814     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 07-04-2011

Nifty(Apr Fut)-Levels

R3 6051
R2 6011
R1 5960
Avg 5920
S1 5869
S2 5829
S3 5778

Nifty(Apr Fut)-Trading Strategy

H6 6001     Trgt 2
H5 5980     Trgt 1
H4 5960     Long breakout
H3 5935     Go Short
H2 5926
H1 5918
L1 5901
L2 5893
L3 5884     Long
L4 5859     Short Breakout
L5 5839     Trgt 1
L6 5818     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 07-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12041
R2 11969
R1 11877
Avg 11805
S1 11713
S2 11641
S3 11549

Bank Nifty(Apr Fut)-Trading Strategy

H6 11949     Trgt 2
H5 11912     Trgt 1
H4 11875     Long breakout
H3 11830     Go Short
H2 11815
H1 11800
L1 11769
L2 11754
L3 11739     Long
L4 11694     Short Breakout
L5 11657     Trgt 1
L6 11620     Trgt 2

Pre-closing Outlook(06-04-2011)

Nifty traded most of the time between 5880-5910 today and selling signals seen between this range today. At lower levels immediate support range is 5857-5870. More or less patterns are mixed and market requires more time for break out of 5855-5940 for decisive moves.

Expected that Nifty will again trade and prepare for next moves within 5855-5940 and final conclusions should be drawn after its break out.