Range bound market(5783-5807) after gap up opening today. Sentiment heated due to strong global cues therefore consolidation expected within range bound moves and range for today is 5770-5810. Intra day charts are not suggesting any clear conclusion at this moment but finally up moves are expected after fresh consolidation within mentioned today range.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Pre-Open Market Outlook(20-04-2011)
Today Rally Possibility,Technical Positions and today Outlook have already been posted in following topic with 1 Chart yesterday therefore not repeated today:-
Post-closing Report(19-04-2011) & Tomorrow Outlook
Following Chart was posted in Weekly Outlook(18-04-2011 to 21-04-2011) anb in that chart Wave-5 Sub Waves were shown:-
1- Wave-5 Sub Waves Chart;-
Corrective Sub Wave-F started on 06-04-2011 from 5644 and its completion strong signals yesterday after intra day support at 38.2%(5716) retracemnt level and corrective wave'C' 100% correction of Wave 'A' at 5716 yesterday.
Wave-5 Sub Waves complete structure is as follows:-
1- Sub Wave-E fast 596 points gains in 13 sessions
2- Corrective Sub Wave-F started on 06-04-2011
3- Corrective Sub Wave-F corrected in 'ABC'corrective waves.
4- 'C' completed 100% correction of Wave 'A' at 5716 on 19-04-2011.
5- Corrective Sub Wave-F has completed 38.2%(5716) correction on 19-04-2011.
6- Correction completion strong and Sub Wave-G begining signals yesterday.
Wave-5 Sub Waves Chart:-
Consolidation between 5695-5735 yesterday and sustaining above 5762 is rally confirmation. Global cues are good today morning,Indian markets will open positive and Nifty will first trade between 5770-5800. Continuation of upmoves and positive closing expected today.
Post-closing Report(19-04-2011) & Tomorrow Outlook
Following Chart was posted in Weekly Outlook(18-04-2011 to 21-04-2011) anb in that chart Wave-5 Sub Waves were shown:-
1- Wave-5 Sub Waves Chart;-
 |
| Just click on chart for its enlarged view |
Wave-5 Sub Waves complete structure is as follows:-
1- Sub Wave-E fast 596 points gains in 13 sessions
2- Corrective Sub Wave-F started on 06-04-2011
3- Corrective Sub Wave-F corrected in 'ABC'corrective waves.
4- 'C' completed 100% correction of Wave 'A' at 5716 on 19-04-2011.
5- Corrective Sub Wave-F has completed 38.2%(5716) correction on 19-04-2011.
6- Correction completion strong and Sub Wave-G begining signals yesterday.
Wave-5 Sub Waves Chart:-
 |
| Just click on chart for its enlarged view |
Rally on Cards
Post-closing Report(19-04-2011) & Tomorrow Outlook
Main features of today market are as follows
1- Green Candle
2- Confirm consolidation between 5695-5735
3- Most of the indices are showing lower levels consolidations.
4- Sub Wave-F of Wave-5 completed 38.2% correction of Sub Wave-E with lower levels supports.
5- 'C' corrective Leg of Sub Wave-F corrective wave is also completed at 5716 roday.
Ratios:
Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(18-04-2011): 21.66
Advances & Declines:
BSE ADVANCES : 1374
BSE DECLINES : 1509
NSE ADVANCES : 645
NSE DECLINES : 763
Nifty Open Interest Changed Today:-
Nifty- 5700 CE(28APR2011)- +126950(+3.15%)
Nifty- 5700 PE(28APR2011)- +158250(+2.08%)
Nifty- 5800 CE(28APR2011)- +113500(+1.57%)
Nifty- 5800 PE(28APR2011)- +488400(+10.46%)
Nifty- 5900 CE(28APR2011)- +369450(+5.30%)
Nifty- 5900 PE(28APR2011)- -44600(-1.67%)
Closing :-
Nifty- closed at 5,740.75(+11.65 Points & +0.20%)
Sensex- closed at 19,121.83(+30.66 Points & +0.16% )
CNX MIDCAP - closed at 8,204.75(+7.45 Points & +0.09%)
BSE SMALL CAP- closed at 8,762.65(+25.59 Points & +0.29%)
Nifty-Micro Analysis of Intra Day Chart(19-04-2011):-
Tomorrow(20-04-2011) Outlook
2 following crucial technical developments today:-
1- Sub Wave-F of Wave-5 completed 38.2% correction of Sub Wave-E with lower levels supports.
2- 'C' corrective Leg of Sub Wave-F corrective wave is also completed at 5716 roday.
Last 2 days following consolidation patterns:-
1- Falling Wedge(Bullish) Pattern on 15-04-2011
2- Water Fall(Bullish) Pattern on 18-04-2011
I told 2 times for support and base formation within 5695-5735 in Mid-session Outlooks and again repeating that keep in mind above technical developments and today intraday support as well as expect rally.
For precaution telling for watching sustaining above 5762 only.
Main features of today market are as follows
1- Green Candle
2- Confirm consolidation between 5695-5735
3- Most of the indices are showing lower levels consolidations.
4- Sub Wave-F of Wave-5 completed 38.2% correction of Sub Wave-E with lower levels supports.
5- 'C' corrective Leg of Sub Wave-F corrective wave is also completed at 5716 roday.
Ratios:
Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(18-04-2011): 21.66
Advances & Declines:
BSE ADVANCES : 1374
BSE DECLINES : 1509
NSE ADVANCES : 645
NSE DECLINES : 763
Nifty Open Interest Changed Today:-
Nifty- 5700 CE(28APR2011)- +126950(+3.15%)
Nifty- 5700 PE(28APR2011)- +158250(+2.08%)
Nifty- 5800 CE(28APR2011)- +113500(+1.57%)
Nifty- 5800 PE(28APR2011)- +488400(+10.46%)
Nifty- 5900 CE(28APR2011)- +369450(+5.30%)
Nifty- 5900 PE(28APR2011)- -44600(-1.67%)
Closing :-
Nifty- closed at 5,740.75(+11.65 Points & +0.20%)
Sensex- closed at 19,121.83(+30.66 Points & +0.16% )
CNX MIDCAP - closed at 8,204.75(+7.45 Points & +0.09%)
BSE SMALL CAP- closed at 8,762.65(+25.59 Points & +0.29%)
Nifty-Micro Analysis of Intra Day Chart(19-04-2011):-
 |
| Just click on chart for its enlarged view |
2 following crucial technical developments today:-
1- Sub Wave-F of Wave-5 completed 38.2% correction of Sub Wave-E with lower levels supports.
2- 'C' corrective Leg of Sub Wave-F corrective wave is also completed at 5716 roday.
Last 2 days following consolidation patterns:-
1- Falling Wedge(Bullish) Pattern on 15-04-2011
2- Water Fall(Bullish) Pattern on 18-04-2011
I told 2 times for support and base formation within 5695-5735 in Mid-session Outlooks and again repeating that keep in mind above technical developments and today intraday support as well as expect rally.
For precaution telling for watching sustaining above 5762 only.
Nifty-Micro Analysis of Intra Day Chart(19-04-2011)
 |
| Just click on chart for its enlarged view |
Consolidation and Base formation seen between 5695-5735 today. Minor profit booking at higher levels signals but consolidation patterns in last 2 sessions also therefore Nifty sustaining above 5762 will mean strong rally possibility in the coming sessions.
Nifty Spot-Levels & Trading Strategy for 20-04-2011
R3 5839
R2 5800
R1 5770
Avg 5731
S1 5701
S2 5662
S3 5632
Nifty Spot-Trading Strategy
H6 5809 Trgt 2
H5 5793 Trgt 1
H4 5777 Long breakout
H3 5758 Go Short
H2 5752
H1 5746
L1 5733
L2 5727
L3 5721 Long
L4 5702 Short Breakout
L5 5686 Trgt 1
L6 5670 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 20-04-2011
5871.00
R2 5826
R1 5793
Avg 5748
S1 5715
S2 5670
S3 5637
Nifty(Apr Fut)-Trading Strategy
H6 5838 Trgt 2
H5 5820 Trgt 1
H4 5802 Long breakout
H3 5781 Go Short
H2 5774
H1 5767
L1 5752
L2 5745
L3 5738 Long
L4 5717 Short Breakout
L5 5699 Trgt 1
L6 5681 Trgt 2
Bank Nifty(Apr Fut)-Levels & Trading Strategy for 20-04-2011
R3 11863
R2 11769
R1 11700
Avg 11606
S1 11537
S2 11443
S3 11374
Bank Nifty(Apr Fut)-Trading Strategy
H6 11796 Trgt 2
H5 11759 Trgt 1
H4 11721 Long breakout
H3 11676 Go Short
H2 11661
H1 11646
L1 11617
L2 11602
L3 11587 Long
L4 11542 Short Breakout
L5 11504 Trgt 1
L6 11467 Trgt 2
Pre-closing Outlook(19-04-2011)
No change in technical positions therefore views are same which have already been expressed in Mid-session Outlook-2. As supports at lower levels therefore up moves expectations are higher.
Mid-session Outlook-2(19-04-2011)
Following line was told in Mid-session Outlook today
"if nifty consolidate within this range then consolidation and up move confirmation point will be crossing 5762."
Nifty moved up could not cross 5762 and again retraced and trading within 5695-5735. Nifty moved up after some base formation today but could not sustain 2 times at higher levels as well therefore profit booking possibility between 5735-5760 can not be ruled out today.Intra day technical positions of today are as follows;-
1- Base formation between- 5695-5735
2- Profit Booking between 5735-5760
Correction is on and its completion confirmation not received yet. confirmation points are as follows:-
1- Crossing 5762 will mean correction is complete.
2- Dipping below 5695 will mean more down to test 5651/5561
Mixed patterns between 5695-5762 and its break out will be next moves confirmation. Let market take positions within this range and its conclusions will be drawn from micro Analysis of Intra Day Chart formations.
"if nifty consolidate within this range then consolidation and up move confirmation point will be crossing 5762."
Nifty moved up could not cross 5762 and again retraced and trading within 5695-5735. Nifty moved up after some base formation today but could not sustain 2 times at higher levels as well therefore profit booking possibility between 5735-5760 can not be ruled out today.Intra day technical positions of today are as follows;-
1- Base formation between- 5695-5735
2- Profit Booking between 5735-5760
Correction is on and its completion confirmation not received yet. confirmation points are as follows:-
1- Crossing 5762 will mean correction is complete.
2- Dipping below 5695 will mean more down to test 5651/5561
Mixed patterns between 5695-5762 and its break out will be next moves confirmation. Let market take positions within this range and its conclusions will be drawn from micro Analysis of Intra Day Chart formations.
Mid-session Outlook(19-04-2011)
Today intra day base formation between 5695-5735,after that small spike upto 5762 and then Nifty reversed and trading again within this range. Yesterday last 4 hours consolidation pattern and after that if nifty consolidate within this range then consolidation and up move confirmation point will be crossing 5762.
Post-open Outlook(19-04-2011)
Indian markets out performed global markets and almost flat despite most global markets are more than 1% down. sustaining beyond 5680-5716 is next moves confirmation levels for today. As lower levels consolidation patterns yesterday and if Nifty holds above 5716 today then it will be correction completion confirmation.
Pre-open Outlook(19-04-2011)
Opening expected between 5680-5716 and this range will be watched also for next immediate moves confirmations. Correction is on and long positions should be created after confirm support and base formation minimum on intra day levels.
Post-closing Report(18-04-2011) & Tomorrow Outlook
Main features of today market is as follows:-
1- Long Red Candle
2- Selling between 5870-5890
3- Last 4 hours down move in Water Fall Pattern and it is bullish Formation
4- All Indices closed in Red
5- Higher levels selling and lower levels buying patterns in intra day chart.
Ratios:
Nifty Put Call Ratio: 0.91
Nifty P/E Ratio(18-04-2011): 21.66
Advances & Declines:
BSE ADVANCES : 1075
BSE DECLINES : 1844
NSE ADVANCES : 374
NSE DECLINES : 1040
Nifty Open Interest Changed Today:-
Nifty- 5700 CE(28APR2011)- +1674650(+69.73%)
Nifty- 5700 PE(28APR2011)- +391450(+5.40%)
Nifty- 5800 CE(28APR2011)- +2412350(+48.73%)
Nifty- 5800 PE(28APR2011)- -167200(-3.31%)
Nifty- 5900 CE(28APR2011)- +1117150(+18.96%)
Nifty- 5900 PE(28APR2011)- -593750(-17.96%)
Closing :-
Nifty- closed at 5,729.10(-95.45 Points &-1.64%)
Sensex- closed at 19,091.17(-295.65 Points & -1.53% )
CNX MIDCAP - closed at 8,197.30(-120.55 Points & -1.45%)
BSE SMALL CAP- closed at 8,737.06(-71.10 Points & -0.81%)
Nifty-Micro Analysis of Intra Day Chart(18-04-2011):-
 |
| Just click on chart for its enlarged view |
Correction is on and lower levels consolidation patterns in last 2 sessions:-
1- Falling Wedge(Bullish) Pattern on 15-04-2011
2- Water Fall(Bullish) Pattern on 18-04-2011
As lower levels consolidation patterns therefore only correction and Bear market possibility is negligible.
US markets are trading more than 1.5% down today and such weak closing will certainly hamper the sentiment tomorrow therefore and expected that in that situation most of the Asian markets will be weak and Indian markets gap sown opening possibility can not be ruled out tomorrow. Following levels testing possibility is also on in on going correction:-
1- 5716
2- 5680
2- 5651
3- 5561
Slipping is very much possible in tomorrow like market and above mentilned levels will be watched for correction completion confirmationans;-
1- Firstly stopping of down move
2- after that minimum intra day consolidation and then
3- crossing minimum 1 resistance will be next upmove confirmation.
Nifty-Micro Analysis of Intra Day Chart(18-04-2011)
 |
| Just click on chart for its enlarged view |
1- Selling between 5870-5890
2- Last 4 hours down move in Water Fall Pattern and it is bullish Formation
Conclusions
Same patterns in most of the Indices intraday charts of today. Higher levels selling and last 4 hours Water Fall consolidation patterns between 5790-5725 today. Although 5736 broken down but with consolidation pattern therefore fresh selling is required within 5790-5725 or below for down move confirmaions and fresh consolidation near or above 5700 will mean sharp rally.
All trends are up and today down move is on going correction. Today intraday charts are suggesting consolidation signals and follow up buying in the coming sessions will mean possibility of sharp rally. Highly volatile markets between 5725-5940 in last 5 sessions without one sided patterns and let market prepare for one side moves then final conclusions will be drawn.
As per my view All trends are up,last 8 session moves are short term correction and after its completion sharp rally will be seen.
FII & DII trading activity in Capital Market Segment on 18-Apr-2011
| ||||||||||||||||
| ||||||||||||||||
Nifty Spot-Levels & Trading Strategy for 19-04-2011
R3 6018
R2 5957
R1 5843
Avg 5782
S1 5668
S2 5607
S3 5493
Nifty Spot-Trading Strategy
H6 5904 Trgt 2
H5 5864 Trgt 1
H4 5825 Long breakout
H3 5777 Go Short
H2 5761
H1 5745
L1 5712
L2 5696
L3 5680 Long
L4 5632 Short Breakout
L5 5593 Trgt 1
L6 5553 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 19-04-2011
R3 6054
R2 5987
R1 5861
Avg 5794
S1 5668
S2 5601
S3 5475
Nifty(Apr Fut)-Trading Strategy
H6 5929 Trgt 2
H5 5885 Trgt 1
H4 5842 Long breakout
H3 5789 Go Short
H2 5771
H1 5753
L1 5718
L2 5700
L3 5682 Long
L4 5629 Short Breakout
L5 5586 Trgt 1
L6 5542 Trgt 2
Bank Nifty(Apr Fut)-Levels & Trading Strategy for 19-04-2011
R3 12214
R2 12077
R1 11826
Avg 11689
S1 11438
S2 11301
S3 11050
Bank Nifty(Apr Fut)-Trading Strategy
H6 11963 Trgt 2
H5 11876 Trgt 1
H4 11788 Long breakout
H3 11681 Go Short
H2 11646
H1 11610
L1 11539
L2 11503
L3 11468 Long
L4 11361 Short Breakout
L5 11273 Trgt 1
L6 11186 Trgt 2
Pre-closing Outlook(18-04-2011)
As Dow's futures is trading more than 40 points down therefore all the global markets showed weakness. Nifty slipped below 5736 and trading below also but last 4 hours intra day charts are not suggesting genuine selling therefore if Nifty will sustain below 5736 tomorrow then that will be deeper correction confirmation.
Highly volatile markets and trend will be confirmed through sustaining beyond only.
Subscribe to:
Posts (Atom)