All trends are down and deep Red Asian markets fuelled falling Indian markets today. Supports within 5496-5529,Nifty slipped fast and recovered from 5503. Intraday voltality and such recovery is very much possible in oversold market. If Nifty holds above 5529 today then minor pull back rally will be expected.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
NIFTY-MAY F&O-1ST BUYING OF 03-05-2011-COVERING
NIFTY MAY F & O(BOUGHT ON 03-05-2011)-COVER IMMEDIATELY-CMP-5545(WE SHALL BUY AGAIN BUT FIRST COVER)
NIFTY-MAY F&O-1ST BUYING OF 03-05-2011-MESSAGE
NIFTY-MAY F&O-1ST BUYING OF 03-05-2011- ASIAN MARKETS DEEP DOWN AND INDIAN MARKET WILL BE VOLATILE THEREFORE HOLD AND COVER AFTER MY COVERING MESSAGE
Pre-Open Market Outlook(04-05-2011)
US futures is more than 50 points down today and resultant all the Asian markets are in deep Red today morning. Negative zone trading firstly expected after weak opening today and next supports are as follows;-
1- Gap support between 5529-5561
2- Intraday condolidation(support) 5496-5529
Expected that Nifty will get support within above mentioned supports. Voltality, minor pull back rally and flat to positive closing will be seen today.
1- Gap support between 5529-5561
2- Intraday condolidation(support) 5496-5529
Expected that Nifty will get support within above mentioned supports. Voltality, minor pull back rally and flat to positive closing will be seen today.
Post-closing Report(03-05-2011) & Tomorrow Outlook
Main features of today trading and Nifty-Micro Analysis of today Intra Day Chart has been explained in following topic:-
Technical Analysis and Research For 04-05-2011
Ratios:
Nifty Put Call Ratio: 0.73
Nifty P/E Ratio(03-05-2011):20.68
Advances & Declines:
BSE ADVANCES : 659
BSE DECLINES : 2181
NSE ADVANCES : 194
NSE DECLINES : 1228
Nifty Open Interest Changed Today:-
Nifty- 5500 CE(28APR2011)- +1060150(+319.18%)
Nifty- 5500 PE(28APR2011)- +857300(+22.58%)
Nifty- 5600 CE(28APR2011)- +2910900(+385.63%)
Nifty- 5600 PE(28APR2011)- +1161050(+24.28%)
Closing :-
Nifty- closed at 5,565.25(-136.05 Points & -2.39%)
Sensex- closed at 18,534.69(-463.33 Points & -2.44% )
CNX MIDCAP - closed at 7,955.05(-165.05 Points & -2.03%)
BSE SMALL CAP- closed at 8,435.97(-179.22 Points & -2.08%)
Tomorrow(04-05-2011) Outlook
Short term indicators are oversold and Falling Wedge(Bullish Pattern) between 5640-5555 today therefore Nifty will get support at following support level and minor pull back rally expected tomorrow:-
1- Gap support between 5529-5561
2- Intraday condolidation(support) 5496-5529
Positive closing expected after initial negative zone trading tomorrow.
Technical Analysis and Research For 04-05-2011
Ratios:
Nifty Put Call Ratio: 0.73
Nifty P/E Ratio(03-05-2011):20.68
Advances & Declines:
BSE ADVANCES : 659
BSE DECLINES : 2181
NSE ADVANCES : 194
NSE DECLINES : 1228
Nifty Open Interest Changed Today:-
Nifty- 5500 CE(28APR2011)- +1060150(+319.18%)
Nifty- 5500 PE(28APR2011)- +857300(+22.58%)
Nifty- 5600 CE(28APR2011)- +2910900(+385.63%)
Nifty- 5600 PE(28APR2011)- +1161050(+24.28%)
Closing :-
Nifty- closed at 5,565.25(-136.05 Points & -2.39%)
Sensex- closed at 18,534.69(-463.33 Points & -2.44% )
CNX MIDCAP - closed at 7,955.05(-165.05 Points & -2.03%)
BSE SMALL CAP- closed at 8,435.97(-179.22 Points & -2.08%)
Tomorrow(04-05-2011) Outlook
Short term indicators are oversold and Falling Wedge(Bullish Pattern) between 5640-5555 today therefore Nifty will get support at following support level and minor pull back rally expected tomorrow:-
1- Gap support between 5529-5561
2- Intraday condolidation(support) 5496-5529
Positive closing expected after initial negative zone trading tomorrow.
Technical Analysis and Research For 04-05-2011
Technical Analysis of EOD Chart
Main features next supports after today trading are as follows
Next 4 supports
1- Gap support between 5529-5561
2- Intraday condolidation(support) 5496-5529
3- Gap support between 5485-5496
4- Support at Rising Trendline
Crucial developments of today
1- 55 Day EMA and 200 Day EMA broken down forcefully
2- Long Black Candle
3- Continuation Pattern Pennant Formation(Bullish) is existing after today big fall
Nifty-Micro Analysis of today Intra Day Chart for 04-05-2011
Main features of today trading are as follows
1- Intraday Selling between 5675-5705
2- Falling Wedge(Bullish Pattern) between 5640-5555
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| Just click on chart for its enlarged view |
Next 4 supports
1- Gap support between 5529-5561
2- Intraday condolidation(support) 5496-5529
3- Gap support between 5485-5496
4- Support at Rising Trendline
Crucial developments of today
1- 55 Day EMA and 200 Day EMA broken down forcefully
2- Long Black Candle
3- Continuation Pattern Pennant Formation(Bullish) is existing after today big fall
Nifty-Micro Analysis of today Intra Day Chart for 04-05-2011
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| Just click on chart for its enlarged view |
1- Intraday Selling between 5675-5705
2- Falling Wedge(Bullish Pattern) between 5640-5555
Nifty Spot-Levels & Trading Strategy for 04-05-2011
R3 5821.33
R2 5765.67
R1 5665.33
PIVOT 5609.67
S1 5509.33
S2 5453.67
S3 5353.33
Nifty Spot-Trading Strategy
H6 5721 Trgt 2
H5 5686 Trgt 1
H4 5650 Long breakout
H3 5607 Go Short
H2 5593
H1 5579
L1 5550
L2 5536
L3 5522 Long
L4 5479 Short Breakout
L5 5443 Trgt 1
L6 5408 Trgt 2
Nifty(May Fut)-Levels & Trading Strategy for 04-05-2011
Nifty(May Fut)-LevelsR3 5842.00
R2 5784.00
R1 5676.00
PIVOT 5618.00
S1 5510.00
S2 5452.00
S3 5344.00
Nifty(May Fut)-Trading Strategy
H6 5734 Trgt 2
H5 5696 Trgt 1
H4 5659 Long breakout
H3 5613 Go Short
H2 5598
H1 5583
L1 5552
L2 5537
L3 5522 Long
L4 5476 Short Breakout
L5 5439 Trgt 1
L6 5401 Trgt 2
Bank Nifty(May Fut)-Levels & Trading Strategy for 04-05-2011
R3 11757.33
R2 11568.67
R1 11243.33
PIVOT 11054.67
S1 10729.33
S2 10540.67
S3 10215.33
Bank Nifty(May Fut)-Trading Strategy
H6 11434 Trgt 2
H5 11317 Trgt 1
H4 11200 Long breakout
H3 11059 Go Short
H2 11012
H1 10965
L1 10870
L2 10823
L3 10776 Long
L4 10635 Short Breakout
L5 10518 Trgt 1
L6 10401 Trgt 2
NIFTY-MAY F&O-1ST BUYING OF 03-05-2011-TRADE
NIFTY(MAY FUT-BUY-POSITIONAL)SL-5544-TGT-5644-CMP-5567
NIFTY(MAY CALL OPTION-BUY-POSITIONAL)SL-5544-TGT-5644-S.P.FOR CALL-5500,5600(MAY FUT-RATES FOR ALL OPTIONS)-CMP-5567
Mid-session Outlook-2(03-05-2011)
Last 21 days range and 55 Days EMA(5704) forcefully broken down today and Nifty is hovering around 200 Days EMA(5633) and sustaining below it today will mean Long term trend turning down. As today intraday charts suggested intra day selling indications therefore we sold our long positions at 5597(proofs are available in blog-Just Click).
Sustaining beyond 5633 will be Long term trend confirmations and slipping below it will mean Bearish market possibility. Next support is 5561 below 5633.
Mid-session Outlook(03-05-2011)
RBI Credit Policy triggered intermediate term down trend after huge intraday voltality today. Last 21 days range and 55 Days EMA broken down today. More down moves and 200 Days EMA testing possibility can not be ruled out.
Post-open Outlook(03-05-2011)
Global cues are weak and Nifty is trading below 5700 since opening today. Indian markets are technically poised for pull back rally but voltality is possible due to weaker global cues and RBI credit policy uncertainity. Decisive moves are expected after credit policy announcements and sustainability beyond 5700 will be confirmation.
NIFTY-MAY F&O-1ST BUYING OF 02-05-2011-COVERING
NIFTY MAY F & O(BOUGHT ON 02-05-2011)-COVER IMMEDIATELY-CMP-5697(WE MAY BUY AGAIN BUT FIRST COVER)
NIFTY-MAY F&O-1ST BUYING OF 02-05-2011-MESSAGE
NIFTY-MAY F&O-1ST BUYING OF 02-05-2011- MARKET WILL BE VOLATILE,HOLD AND WE MAY WAIT UPTO RBI CREDIT POLICY & COVERING MESSAGE WILL BE POSTED POSITIVELY
Pre-Open Market Outlook(03-05-2011)
Indian markets are technically poised for a pull back rally between 5700-5800 but global markets are slipping today therefore sustaining beyond 5700 will be watched after weak opening today and according to that next market view will be formed. Sustaining beyond 5700 implications have already been discussed in Post-closing Report(02-05-2011) & Tomorrow Outlook yesterday.
Nifty-Micro Analysis of 5 Days Intra Day Chart
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| Just click on chart for its enlarged view |
Main features are as follows
1- Water-Fall(Bullish) pattern in last 4 sessions
2- Last 4 sessions down moves are in falling Channel
Channel break out will give first indication of next strong move. As Water-Fall(Bullish) pattern formations in last 4 sessions therefore rally expected after upside break out.
Post-closing Report(02-05-2011) & Tomorrow Outlook
Main features of today trading are as follows
1- Black Candle
2- Most Indices closed in Red except IT,Reality,CG,Power and Health Care
3- Consolidation seen in last 3 hours at crucial support(5700)
4- Consolidation seen in 2/3 of 30 SENSEX Stocks
Ratios:
Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(02-05-2011): 21.19
Advances & Declines:
BSE ADVANCES : 1002
BSE DECLINES : 1861
NSE ADVANCES : 421
NSE DECLINES : 988
Nifty Open Interest Changed Today
Nifty- 5600 CE(28APR2011)- +152900(+25.40%)
Nifty- 5600 PE(28APR2011)- +417850(+8.82%)
Nifty- 5700 CE(28APR2011)- +523150(+35.90%)
Nifty- 5700 PE(28APR2011)- +48150(+1.05%)
Nifty- 5800 CE(28APR2011)- +557350(+15.83%)
Nifty- 5800 PE(28APR2011)- +142150(+4.44%)
Closing
Nifty- closed at 5,701.30(-48.20 Points & -0.84%)
Sensex- closed at 18,998.02(-137.94 Points & -0.72% )
CNX MIDCAP - closed at 8,120.10(-80.85 Points & -99%)
BSE SMALL CAP- closed at 8,615.19(-100.12 Points & -1.15%)
Nifty-Micro Analysis of Intra Day Chart(02-05-2011):
Tomorrow(03-05-2011) Outlook
Last 10 days Intra Day Charts Micro Analysis is showing water-Fall(bullish) pattern and Micro Analysis of today Nifty Intra Day Chart is also suggesting last 3 hours intraday buying patterns between 5690-5710. 21 sessions trading range is 5688-5944 and consolidation signals emerged at lower levels of the range.
Technical positions are as follows:
1- 55 Day EMA is at 5704 today and sustaining it beyond will give intermediate term trend confirmation.
2- Nifty is at lower band of Bollinger Band and up moves within last 21 sessions range can be expected at this moment if follow up buying develop tomorrow.
3- very short term indicators(Stochastic and William %R) are oversold and very short term up moves can be expected at this moment if follow up buying develop tomorrow.
Survival of Intermediate term trend is at stake,tomorrow is its deciding day and that will be decided according to sustaining beyond 5700. Follow up buying tomorrow will mean sharp surge because water-Fall(bullish) pattern in last week and follow up selling will mean sustaining below 5693 and deep correction confirmations.
As lower levels consolidations today therefore up moves expected after follow up buying development and sustaining above 5700.
1- Black Candle
2- Most Indices closed in Red except IT,Reality,CG,Power and Health Care
3- Consolidation seen in last 3 hours at crucial support(5700)
4- Consolidation seen in 2/3 of 30 SENSEX Stocks
Ratios:
Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(02-05-2011): 21.19
Advances & Declines:
BSE ADVANCES : 1002
BSE DECLINES : 1861
NSE ADVANCES : 421
NSE DECLINES : 988
Nifty Open Interest Changed Today
Nifty- 5600 CE(28APR2011)- +152900(+25.40%)
Nifty- 5600 PE(28APR2011)- +417850(+8.82%)
Nifty- 5700 CE(28APR2011)- +523150(+35.90%)
Nifty- 5700 PE(28APR2011)- +48150(+1.05%)
Nifty- 5800 CE(28APR2011)- +557350(+15.83%)
Nifty- 5800 PE(28APR2011)- +142150(+4.44%)
Closing
Nifty- closed at 5,701.30(-48.20 Points & -0.84%)
Sensex- closed at 18,998.02(-137.94 Points & -0.72% )
CNX MIDCAP - closed at 8,120.10(-80.85 Points & -99%)
BSE SMALL CAP- closed at 8,615.19(-100.12 Points & -1.15%)
Nifty-Micro Analysis of Intra Day Chart(02-05-2011):
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Just click on chart for its enlarged view |
Last 10 days Intra Day Charts Micro Analysis is showing water-Fall(bullish) pattern and Micro Analysis of today Nifty Intra Day Chart is also suggesting last 3 hours intraday buying patterns between 5690-5710. 21 sessions trading range is 5688-5944 and consolidation signals emerged at lower levels of the range.
Technical positions are as follows:
1- 55 Day EMA is at 5704 today and sustaining it beyond will give intermediate term trend confirmation.
2- Nifty is at lower band of Bollinger Band and up moves within last 21 sessions range can be expected at this moment if follow up buying develop tomorrow.
3- very short term indicators(Stochastic and William %R) are oversold and very short term up moves can be expected at this moment if follow up buying develop tomorrow.
Survival of Intermediate term trend is at stake,tomorrow is its deciding day and that will be decided according to sustaining beyond 5700. Follow up buying tomorrow will mean sharp surge because water-Fall(bullish) pattern in last week and follow up selling will mean sustaining below 5693 and deep correction confirmations.
As lower levels consolidations today therefore up moves expected after follow up buying development and sustaining above 5700.
Nifty-Micro Analysis of Intra Day Chart(02-05-2011):
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| Just click on chart for its enlarged view |
Conclusions are as follows
1- Last 3 hours consolidation between 5690-5710
2- Distribution between 5725-6740
As base formation and support between 5725-5740 and some selling at higher levels also today therefore firstly trading between 5690-5750 will be seen. Base formation at lower level today therefore firstly very short term up moves expected tomorrow. Let follow up buying/selling develop tomorrow then final conclusions will be drawn from 5690-5750 break out.
FII & DII trading activity in Capital Market Segment on 02-May-2011
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