Bank Nifty(May Fut)-Levels & Trading Strategy for 09-05-2011

Bank Nifty(May Fut)-Levels

R3 12588
R2 12157
R1 11650
Avg 11219
S1 10712
S2 10281
S3 9774

Bank Nifty(May Fut)-Trading Strategy

H6 12111     Trgt 2
H5 11885     Trgt 1
H4 11658     Long breakout
H3 11400     Go Short
H2 11314
H1 11228
L1 11057
L2 10971
L3 10885     Long
L4 10627     Short Breakout
L5 10400     Trgt 1
L6 10174     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(09-05 to 13-05-2011)

Nifty Spot-Weekly Levels

R3 6067
R2 5921
R1 5736
Avg 5590
S1 5405
S2 5259
S3 5074

Nifty Spot-Weekly Trading Strategy

H6 5888     Trgt 2
H5 5810     Trgt 1
H4 5733     Long breakout
H3 5642     Go Short
H2 5611
H1 5581
L1 5520
L2 5490
L3 5459    Long
L4 5368     Short Breakout
L5 5291     Trgt 1
L6 5213     Trgt 2

Pre-closing Outlook(06-05-2011)

Nifty crossed 1st resistance after strong opening today and it is yesterday bottoming out confirmation. Final conclusion from today intraday patterns is consolidations. If Nifty sustains above 5560 and cross 5585 in next week then will be Bull market survival.

Mid-session Outlook-3(06-05-2011)

5520 crossed and Nifty is trading between next 1st resistance 5520-2260. Up moves are with good force today and crossing of 5560 will be Pull back rally confirmation.

Mid-session Outlook-2(06-05-2011)

3 hours selling between 5500-5520 and Nifty slipped to 5472 and then recovered fast also.As sentiment is extremely depressed therefore people  can  not hold positions and panic selling starts. Today fast recovery is certainly a positive move and 5475-5485 has developed minor support also.

First of all watch 5500-5520 and its break out will be first indicaton. 5475-5560 crossing will be next sustained move confirmation. For any up move Nifty require complete consolidation between 5525-5560 and it will take its own time. 5475-5485 is minor support and will be easily cleared if fresh selling develops today.

Mid-session Outlook(06-05-2011)

As intraday charts told therefore Following line was told in Technical Analysis and Research For 06-05-2011

Genuine selling between 5525-5560

Clearly following line was told and cautioned in Post-open Outlook(06-05-2011)

confirmation will be minimum crossing next resistance range(5525-5560).

Intraday charts showed 3 hours selling between 5500-5520 today and this sellling is exactly below yesterday genuine selling range therefore yesterday resistance strengthened and more down moves are expected.

Technicals and Intraday Charts Analysis online Course 2011-12

Technicals and Intraday Charts Analysis online Course 2011-12 from 01-06-2011


Only we teach Intraday Charts analysis in India 


Become Stock and Commodity Market Expert

Post-open Outlook(06-05-2011)

Indian markets closed near the lows of the day yesterday but intraday charts did not suggested pure selling but buying signals were also seen therefore following lines were told in all the outlooks posted for today:-

1- Mixed Patterns between 5455-5490
2- Nifty will first trade within or near about 5455-5490 for next moves preparations.

All the Global markets are in Red and sentiment was deep depressed but Indian markets opening is certainly strong. If Nifty sustains at higher levels and close above 5500 today then it will be first indication of yesterday bottom formation yesterday and confirmation will be minimum crossing next resistance range(5525-5560).

Today 1% up is Pull Back Rally and strong move also. Next 2/3 hours intraday charts formations and sustaining beyond 5500 will give next moves first indication.

Pre-Open Market Outlook(06-05-2011)

All trends are down and market is bearish. Market require complete consolidation for a Bullish rally and until that will not happen till then this possibility will not be considered. Short term oscillators are oversold therefore only pull back rally will be expected at this moment and it may begin after couple of hours to couple of sessions consolidation.

Huge voltality is Bear market character and will be seen also. Previous Wave(5177-5944) has been retraced 61.8%(5469) and Nifty closed below it ar 5459 yesterday,as mixed Patterns between 5455-5490 yesterday therefore if fresh consolidation develop near about then a very shot term up move will be seen. Next retracement levels are as follows:-

1- 70.7%- 5401
2- 76.4%- 5358
3- 78.6%- 5341
4- 88.6%- 5264

Next 3 supports are as follows:-

1- 5348
2- 5233
3- 5178

At present 1st Resistance range is 5525-5560 and until Nifty will not sustain above it till then bullish rally begining will not be considered. Mixed Patterns between 5455-5490 yesterday therefore Nifty will first trade within or near about this range for next moves preparations. Intraday consolidation today will mean only pull back rally possibility maximum upto 5525. Market is in Bear phase therefore fresh selling today will mean more sharp down moves toward above mentioned retracement levels and supports.

As mixed Patterns between 5455-5490 in last 3 hours yesterday therefore next immediate market and today closing will be decided according to first 2/3 hours trading.

Tomorrow(06-05-2011) Outlook

Technical Positions have already been posted in following topic with 2 Chart therefore not being repeated

Technical Analysis and Research For 06-05-2011

Sentiment is depressed therefore market may be volatile tomorrow. Market has turned bearish and require complete consolidation for a big rally. Only pull back rally can be expected. Tomorrow expected trading range is 5425-5490

Technical Analysis and Research For 06-05-2011

Technical Analysis of EOD Chart(05-05-2011)

Just click on chart for its enlarged view

Next 3 bottoms are next supports:- 

B3- 5348

B2- 5233

B1- 5178

Conclusions

Nifty was already below 55 Day EMA and 200 Day EMA and continuation pattern Pennant cancelled today after breaking down of 5485. Bearish phase confirmation and selling at each step.

Nifty-Micro Analysis of Intra Day Chart(05-05-2011):-

Just click on chart for its enlarged view

Main Features

Genuine selling between 5525-5560

Mixed Patterns between 5455-5490

Conclusions

Genuine selling between 5525-5560 and this selling was confirmed at 10:33:00 AM today and following line was told 3 hours before today down move begining:-

"Selling signals emerged between 5540-5559 today"

As mixed Patterns between 5455-5490 today therefore Nifty will first trade within or near about this range for next moves preparations.

Conclusions (After Putting EOD and Intraday charts analysis together)

Bear phase is confirm and following line was also told  at 01:15:00 PM  in Mid-session Outlook-3:-

Now bear market confirmation and more down moves are possible.

Market require complete consolidation for any rally and until that will not haappen till then any rally will not be imagined. 1st reistance range as of today is 5525-5560 and any rally begining will be considered only after sustaining above 5560. Mentioned B1 to B3 will be watched for next supports and pull back rally may be seen from these points in next week.

Sentiment depressed therefore voltality may be seen and Nifty will first trade within or near about 5455-5490 for next moves preparations.

Nifty Spot-Levels & Trading Strategy for 06-05-2011

Nifty Spot-Levels

R3 5648
R2 5604
R1 5531
Avg 5487
S1 5414
S2 5370
S3 5297

Nifty Spot-Trading Strategy

H6 5576     Trgt 2
H5 5549     Trgt 1
H4 5523     Long breakout
H3 5491     Go Short
H2 5480
H1 5469
L1 5448
L2 5437
L3 5426     Long
L4 5394     Short Breakout
L5 5368     Trgt 1
L6 5341     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 06-05-2011

Nifty(May Fut)-Levels

R3 5669
R2 5621
R1 5539
Avg 5491
S1 5409
S2 5361
S3 5279

Nifty(May Fut)-Trading Strategy

H6 5588     Trgt 2
H5 5558     Trgt 1
H4 5529     Long breakout
H3 5493     Go Short
H2 5481
H1 5469
L1 5446
L2 5434
L3 5422     Long
L4 5386     Short Breakout
L5 5357     Trgt 1
L6 5327     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 06-05-2011

Bank Nifty(May Fut)-Levels

R3 11240
R2 11123
R1 10935
Avg 10818
S1 10630
S2 10513
S3 10325

Bank Nifty(May Fut)-Trading Strategy

H6 11054     Trgt 2
H5 10985     Trgt 1
H4 10915     Long breakout
H3 10831     Go Short
H2 10803
H1 10775
L1 10720
L2 10692
L3 10664     Long
L4 10580     Short Breakout
L5 10510     Trgt 1
L6 10441     Trgt 2

FII Trading Data in Derivatives Segment on 05-May-2011

FII & DII trading activity in Capital Market Segment on 05-May-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 05-May-2011 2005.09 2784.57 -779.48

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 05-May-2011 1826.36 889.13 937.23

Pre-closing Outlook(05-05-2011)

4 hours intraday genuine selling patterns within 5538-5559 today and after that range broken down as well as breaking of 5485 is confirmation of Bearish market. Following line was told in Mid-session Outlook-3 today,as applicale now also therefore being repeated.

Nifty is down in last 5 minutes.Now bear market confirmation and more down moves are possible.

As told immediately after begining of down moves,same is seen and sharp down moves were seen today.

As selling at each step therefore market require full consolidation for any rally and until that will not haappen till then any up move will not be considered. Down moves are on and next strong support is at 5177..

Mid-session Outlook-3(05-05-2011)

Selling was told in following line at 10:33:00 AM  today

"Selling signals emerged between 5540-5559 today"

Nifty is down in last 5 minutes.Now bear market confirmation and more down moves are possible.

Mid-session Outlook-2(05-05-2011)

Selling signals emerged between 5540-5559 today  and any upmove will get confirmation above 5560. Now next moves confirmation range is 5496-5560. Minor buying and Minor selling ranges within this range are as follows:-

1- Buying- 5515-5525
2- Selling- 5540-5559

As selling signals also emerged today after yesterday buying  within mentioned trading range(5496-5560) therefore market is poised for any side break out.

Mid-session Outlook(05-05-2011)

Support at 5515-5525 was told 12:40 PM yesterday and since then Nifty not moved below it and traded most of the time above it. Market preparation for next moves range of 5496-5550 is given in all the outlooks for today market and Nifty is trading within this range today. Nifty moved above 5550 but slipped and again trading within this range. Let market prepare then final conclusions will be drawn from intraday charts patterns. Suataining beyond this range will be next moves confirmation.

Post-open Outlook(05-05-2011)

Asian markets are flat therefore Sentiment is quiet. Today expected first range is 5496-5550 and Nifty will trade first within this range. This range break out will decide Bear market confirmation or revival of Bull market hopes. Breaking down 5496 will mean that Nifty 5485 will not survive and Bearish phase will commence. Sustaining above 5550 will mean survival of Bull market but confirmation will be sustaining above 200 Day EMA.

Flat opening today but not weak. As lower levels support within 5510-5530 yesterday until Nifty is above it til then Bull market revival hopes are alive. First 15 minutes trading has not shown weakness signals.