Nifty Spot-Weekly Levels & Trading Strategy(Jun 06 to Jun 10,2011)

Nifty Spot-Weekly Levels

R3 5727
R2 5662
R1 5589
Avg 5524
S1 5451
S2 5386
S3 5313

Nifty Spot-Weekly Trading Strategy

H6 5655     Trgt 2
H5 5623     Trgt 1
H4 5591     Long breakout
H3 5553     Go Short
H2 5541
H1 5528
L1 5503
L2 5490
L3 5478     Long
L4 5440     Short Breakout
L5 5408     Trgt 1
L6 5376     Trgt 2

Pre-closing Outlook(03-06-2011)

Indian markets opening was excellent today morning but follow up buying patterns were missing and sentiment automotacally turned Bullish during AGM of RIL therefore Bullish views were not posted despite encouraging announcements by Mukesh Ambani. Following lines were told:-

"News based market since opening today morning therefore today trading range(5565-5605) break out will give confirmation to next decisive and trending moves"

5565 broken down fast after last 2 sessions some selling and today news based higher level selling therefore consolidation is must for any upmove. Next crucial levels are as follows:-

1- Next support range- 5495-5515
2- 38.2% retracement levels- 5494

Correction is on and Nifty is trading between above mentioned support range. Nifty traded last 2 hours between 5510-5535 today with intraday consolidation patterns but it is not sufficient and follow up buying and base formation is must between 5494-5535 in the begining of next week for support confirmations.

Mid-session Outlook-2(03-06-2011)

When sentiment was Bullish due to AGM of RIL then its psychological impacts were told and also explained reasons of today bullish markets. Although Indian markets were bullish but up moves were not convincing therefore following lines were told for precautions and confirmations:-

"News based market since opening today morning therefore today trading range(5565-5605) break out will give confirmation to next decisive and trending moves"  

Mid-session Outlook(03-06-2011)

AGM of RIL was scheduled today. As this news is psychologically enthusiastic therefore Indian markets moved up fast and traded above 5600 immediately after opening today morning. Nifty is trading in the upper band of 2nd Next moves preparation Range(5530-5597) and today first 2 hours trading range is 5575-5604.

News based market since opening today morning therefore today trading range(5565-5605) break out will give confirmation to next decisive and trending moves.

Post-open Outlook-2(03-06-2011)

Nifty today high is at 5604.95. Nifty by force crossing 4605 or sustaining above 5605 will mean blasting rally beginning.

Post-open Outlook(03-06-2011)

Strong opening,resistance range has almost been cleared and rally above 5600 possibility turns high today morning.

Technical Analysis,Researches & Market Outlook(03-06-2011)

Nifty moved up 268 points rally in 5 sessions,faced resistance and correction started just below 200 Day EMA(5605). Long term trend will be up above 5605 and Indian markets will show strong rally as well but correction started yesterday and retracement levels are as follows:-

23.6%- 5562
27.0%- 5524
38.2%- 5494
50.0%- 5563
61.8%- 5431

Next support ranges

1- 5495-5515(weak)
2- 5459-5473

Next Resistances ranges

1- 5558-5568
2- 5576-5596

Next crucial ranges

1- Next moves preparation Range-1:- 5538-5582
2- Next moves preparation Range-2:- 5530-5597

Nifty-Micro Analysis of 2 days Intra Day Chart(01-06-2011 & 02-06-2011)

Just click on chart for its enlarged view

Conclusions

Last 2 sessions intraday charts are showing both buying and selling patterns. Indian markets are not prepare for any decisive moves therefore expected that Nifty will trade first trade and prepare for next moves between 5530-5597 and break out of this range will give confirmation to correction continuation/completion. Next moves after break out of mentioned range will be as follows:-

1- Correction completion will mean strong rally above 5605.
2- Correction continuation will mean testing possibility of above mentioned retracement levels and support ranges.

All the aspects of Indian markets have been clearly explained like mirror. No guessing,No gossiping,let market prepare for next moves then final conclusion will be drawn from intraday charts formations and will be posted in Mid-session outlooks.

Nifty-Micro Analysis of Intra Day Chart For 03-06-2011

Nifty-Intra Day Chart(02-06-2011):-

Main Features


Sentiment was extremely depressed due to tanking global markets but Indian markets got intraday support immediately after opening and whole day outperformed global markets and traded narrow between 5538-5568.

Today intraday pateerns are not suggesting clear selling or buying and last 2 sessions are range bound with mixed intraday patterns therefore markets require more preparation in the coming sessions for decisive trending moves. Although higher levels selling but lower levels supports also and good lower level support amid most depressing sentiment after weak opening today.

It will be the best to wait for markets complete preparation for next moves and then break out last 2 sessions range(5530-5597)

Indian Stock Markets Closing Reports(02-06-2011)

Main features of today trading are as follows

1- White Candle and Red closing after gap down opening.
2- Whole day narrow range trading between (5538-5568)
3- Most Indices closed in Red.

Ratios

Nifty Put Call Ratio: 1.29
Nifty P/E Ratio(02-06-2011): 20.49

Advances & Declines

BSE ADVANCES : 1114
BSE DECLINES : 1725
NSE ADVANCES :  435
NSE DECLINES :  961

Nifty Open Interest Changed Today

Nifty- 5500 CE(Jun)- +301600(+9.01%)
Nifty- 5500 PE(Jun)- +1293300(+24.91%)

Nifty- 5600 CE(Jun)- +138400(+2.84%)
Nifty- 5600 PE(Jun)- +199950(+7.73%)

Closing 
Nifty- closed at 5,550.35(-41.65 Points & -0.74%)
Sensex- closed at 18,494.18(-114.63 Points & -0.62% )
CNX MIDCAP - closed at 8,022.05(-80.75 Points & -1.00%)
BSE SMALL CAP- closed at 8,242.84(-64.81 Points & -0.78%)

FII Trading Data in Derivatives Segment on 02-Jun-2011

FII & DII trading activity in Capital Market Segment on 02-Jun-2011

FII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 02-Jun-2011 1748.22 1763.01 -14.79

DII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 02-Jun-2011 897.38 1027.98 -130.6

Nifty Spot-Levels & Trading Strategy for 03-06-2011

Nifty Spot-Levels

R3 5618
R2 5593
R1 5571
Avg 5546
S1 5524
S2 5499
S3 5477

Nifty Spot-Trading Strategy

H6 5597     Trgt 2
H5 5586     Trgt 1
H4 5575     Long breakout
H3 5562     Go Short
H2 5558
H1 5554
L1 5545
L2 5541
L3 5537     Long
L4 5524     Short Breakout
L5 5513     Trgt 1
L6 5502     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 03-06-2011

Nifty(Jun Fut)-Levels

R3 5624
R2 5600
R1 5579
Avg 5555
S1 5534
S2 5510
S3 5489

Nifty(Jun Fut)-Trading Strategy

H6 5603     Trgt 2
H5 5592     Trgt 1
H4 5582     Long breakout
H3 5570     Go Short
H2 5566
H1 5562
L1 5553
L2 5549
L3 5545     Long
L4 5533     Short Breakout
L5 5523     Trgt 1
L6 5512     Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 03-06-2011

Bank Nifty(Jun Fut)-Levels

R3 10980
R2 10929
R1 10877
Avg 10826
S1 10774
S2 10723
S3 10671

Bank Nifty(Jun Fut)-Trading Strategy

H6 10928     Trgt 2
H5 10905     Trgt 1
H4 10881    Long breakout
H3 10853     Go Short
H2 10843
H1 10834
L1 10815
L2 10806
L3 10796    Long
L4 10768    Short Breakout
L5 10744     Trgt 1
L6 10721     Trgt 2

Pre-closing Report(02-06-2011)

Completely narrow range market today and brek out of today trading range(5538-5568) will give next moves confirmations.

Mid-session Outlook-2(02-06-2011)

Nifty  traded 3 hours between 5552-5568,Moved below it and trading at present at 5548. It is strong indication of correction continuation

Mid-session Outlook(02-06-2011)

Following line was told in Market Outlook(02-06-2011)  yesterday

As selling patterns between 5576-5596 today therefore one dip will be seen tomorrow

As was told ,100% same happened and Indian markets moved up after forming opening rate bottom and since then moving up slowly and continuously in last 4 hours. Indian markets are out performing all the Asian and European markets today and Indian markets got intraday support at lower levels also. Although Indian markets slipped from higher levels today but patterns are not suggesting selling and indicating conoslidation today.

Next immediate move first confirmation range is 5552-5568 and forceful break out of this range will give confirmation to continuation/completion of correction.

Post-open Outlook(02-06-2011)

Gap down opening on expected lines today.Crucial ranges are as follows:-

1  Next Resistance Range:- 5576-5596
2- Next Support Range:- 5459-5473
3- Next moves preparation Range-1:- 5485-5560
4- Next moves preparation Range-2:- 5473-5576
5- Next Trend Confirmation Range:- 5459-5596

Expected that Nifty will prepare for next moves between 5530-5576 today and follow up intraday moves will tell for break out side of this range.

Correction of 268 Points Rally

Pre-Open Market Outlook(02-06-2011)

When Indian markets were going to close near Day's highest and Month Highest then bullish views were not posted in Pre-closing Outlook and following lines were told:-

"Whole day intraday trading range broken out(5565-5593) in last half hour and Nifty is closing near day's highest but intraday trading patterns are mixed because both buying and selling indications from today intraday charts"

As sentiment was heated and very short term indicators were overbought after 268 points rally in 5 sessions therefore its correction was possible for cooling down of indicators and it will be seen today. As this possibility was also seen therefore folloing lines were told two times yesterday:-

"Expected that Nifty will consolidate between 5540-5605 and may take few hours to few session in this process. Very much expected that Nifty will finally cross and sustain above 5605 in the coming sessions/week and strong rally will be seen"

Intraday selling was already seen yesterday and negative cue from tanking global markets also therefore Red closing is possible after gap down opening today and next conclusive moves deciding range will be 5460-5605. Expected that Nifty will prepare for next moves between 5485-5560 in the coming couple of sessions and follow up intraday moves will tell depth of down moves.

Let market prepare for next moves then will be told accordingly well in advanve before the begining of real moves in Pre,Post and Mid-session Outlooks.

Indian markets are down today but selling patterns were told in all the outlooks and also at the top of the day yesterday:- 

Indian markets can not deceive to followers of my Intraday Outlooks

Market Outlook(02-06-2011)

Nifty-Micro Analysis of Intra Day Chart(01-06-2011):-

Just click on chart for its enlarged view

Main Features

1- Intraday selling pattern between 5576-5596
2- Minor consolidations between 5566-5572

Conclusions and Market Outlook(02-06-2011) 

Dow Jones is trading more than 200 points down and SGX Nifty is 55 points down therefore if I shall tell for any down moves at this moment then it will be understood that it is being told after getting above negative cues. Just go through my following analysis of last 2 sessions in which I never told for consolidations and also told 3 times for intraday selling patterns:-

1- Following line was told in Mid-session Outlook(01-06-2011):-

"selling at higher levels and minor consolidations at lower level"

2- Following line was told in Pre-closing Outlook(01-06-2011)

"both buying and selling indications from today intraday charts"

3- Following line was told in Nifty-Micro Analysis of Intra Day Chart For 01-06-2011

" Sentiment was heated therefore some selling patterns seen in last 1 hour(5555-5570)"

As immediate rally was least expected therefore following lines were also told two times today:-

"Expected that Nifty will consolidate between 5540-5605 and may take few hours to few session in this process. Very much expected that Nifty will finally cross and sustain above 5605 in the coming sessions/week and strong rally will be seen"

As selling patterns between 5576-5596 today therefore one dip will be seen tomorrow because sentiment may be depressed tomorrow morning after US markets deep Red expected closing today.

Tomorrow follow up intraday moves will decide the depth of down moves and until Nifty is sustaining above 5460 till then previous week begun up trend is safe.

FII Trading Data in Derivatives Segment on 01-Jun-2011