Just click on above topic and go through 16 topics Links for 06-06-2011 Trading
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Most Bullish Pattern formation Indications
Inverted Head & Shoulders Formations
EOD Chart(03-06-2011)
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1- Inverted Head & Shoulders formation in last 24 sessions
2- Inverted Left Shoulder and Inverted Head formation is complete.
3- Inverted Right Shoulder under constructions
4- Neck Line is at 5605 and Nifty retraced after its testing on 03-06-2011.
Trend reversal pattern "Falling Wedge(Bullish Pattern) Formation" was confirmed on 25-05-2011 and Pull Back Rally was declared in following 3 topics before the begining of rally:-
1- Pull Back Rally Possible
2- Technical Analysis of EOD Chart and Research For 26-05-2011
3- Nifty-Micro Analysis of Intra Day Chart For 26-05-2011
Conclusions
Pull Back Rally stopped exactly near Neck Line(5605) and retraced 2 times in previous week. Neckline break out by force or sustaining above will mean blasting rally in Indian markets because in that situation all trends will be up and that rally will be the result of complete consolidations and 2 following Bullish formation:-
1- Falling Wedge(Bullish Pattern)
2- Inverted Head & Shoulders
Nifty will first prepare for next moves between 5459-5605 in the coming week and intraday charts consolidation patterns will be first indication of fresh upmoves. Let Indian markets prepare for next moves and confirmation come then will be told first of all in my Outlooks from Intra day charts analysis as was declared before the begining of Pull Back Rally(26-05-2011).
Why Range of 5459-5473 is strong Support?
Nifty closed in Red on 30-05-2011 but intra day showed whole day consolidations 5459-5473 and Nifty rallied 99.00 points on 31-05-2011. Range of 5459-5473 was proved strong support on 30-05-2011 with following intraday chart and conclusions in following topic on 30-05-2011:-
30-05-2011 in Nifty-Micro Analysis of Intra Day Chart For 31-05-2011:-
Just go through and analyse intraday chart of 30-05-2011 to understand the strength of support(5459-5473):-
Nifty-Intra Day Chart(30-05-2011):-
30-05-2011 in Nifty-Micro Analysis of Intra Day Chart For 31-05-2011:-
Just go through and analyse intraday chart of 30-05-2011 to understand the strength of support(5459-5473):-
Nifty-Intra Day Chart(30-05-2011):-
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Main Features
1- Support,base formation and consolidation between 5459-5473
2- Although Nity slipped from higher levels continuously 5 times but Patterns are showing consolidations
3- Whole day intraday consolidation
Conclusions
Nifty closed exactly at 5,473.10 today and intraday patterns of today are suggesting whole day consolidations therefore upmoves with continuous consolidations possibility is high.
Conclusions
Nifty closed exactly at 5,473.10 today and intraday patterns of today are suggesting whole day consolidations therefore upmoves with continuous consolidations possibility is high.
Nifty- Micro Analysis of 5 days Intra Day Chart For 06-06-2011
Nifty-Micro Analysis of 5 days Intra Day Chart(May 30 to Jun 03,2011)
Main Features
1- Support,base formation and consolidation between 5459-5473 on 30-05-2011
2- Support between 5500-5540
3- Resistance between 5555-5600
Conclusions
Sentiment may be depressed Monday morning because Dow Jones closed 97 points down yesterday and Indian markets weak opening can not be ruled out on Monday but strong Support,base formation and consolidation between 5459-5473 on 30-05-2011 and until Nifty will not sustain below 5459 will then on going up trend is safe.
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1- Support,base formation and consolidation between 5459-5473 on 30-05-2011
2- Support between 5500-5540
3- Resistance between 5555-5600
Conclusions
Sentiment may be depressed Monday morning because Dow Jones closed 97 points down yesterday and Indian markets weak opening can not be ruled out on Monday but strong Support,base formation and consolidation between 5459-5473 on 30-05-2011 and until Nifty will not sustain below 5459 will then on going up trend is safe.
Accuracy of Levels
Following line was told more than 20 times in previous outlooks:-
"Sustaining above 5605 will be strong rally confirmation"
&
Nifty could not test 5605 and reversed on 03-06-2011 after forming the top at 5604.95
"Sustaining above 5605 will be strong rally confirmation"
&
Nifty could not test 5605 and reversed on 03-06-2011 after forming the top at 5604.95
Nifty-Micro Analysis of Intra Day Chart For 06-06-2011
Nifty-Intra Day Chart(03-06-2011):-
Main Features
1- Selling on the news of Reliance Ind. AGM news between 5580-5600
2- Last 3 Hours support between 5510-5535
Conclusions
Nifty traded last 3 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.
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| Just click on chart for its enlarged view |
1- Selling on the news of Reliance Ind. AGM news between 5580-5600
2- Last 3 Hours support between 5510-5535
Conclusions
Nifty traded last 3 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.
FII Trading Data in Derivatives Segment on 03-Jun-2011
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16 Recent Topics,Technical Analysis,News & Research For 06-06-2011 Trading
16 Topics have been posted for 06-06-2011 trading and more topics will be posted today and in next 2 days.Just click at following topics names and go through as well as analyse Chart:-
Topics prepared by Enjoy Daily Profits
1- Indian Stock Markets Closing Reports(03-06-2011)
2- Nifty Spot-Levels & Trading Strategy for 06-06-2011
3- Nifty(Jun Fut)-Levels & Trading Strategy for 06-06-2011
4- Bank Nifty(Jun Fut)-Levels & Trading Strategy for 06-06-2011
5- Nifty Spot-Weekly Levels & Trading Strategy(Jun 06 to Jun 10,2011)
6- FII & DII trading activity in Capital Market Segment on 03-Jun-2011
7- Nifty-Micro Analysis of Intra Day Chart For 06-06-2011
8- FII Trading Data in Derivatives Segment on 03-Jun-2011
9- Nifty-Micro Analysis of 5 days Intra Day Chart For 06-06-2011
10- Why Range of 5459-5473 is strong Support?
11-Most Bullish Pattern formation Indications
Important News
1- GDP to grow by up to 9.5% annually over next few years:Moody's
2- India to test fire Agni-V by year-end
3-Costlier food, fuel will dent India's growth most in Asia, says ADB
4-National manufacturing policy shortly, says Anand Sharma
5-Hardening interest rates, fuel prices pinch car sales momentum
Topics prepared by Enjoy Daily Profits
1- Indian Stock Markets Closing Reports(03-06-2011)
2- Nifty Spot-Levels & Trading Strategy for 06-06-2011
3- Nifty(Jun Fut)-Levels & Trading Strategy for 06-06-2011
4- Bank Nifty(Jun Fut)-Levels & Trading Strategy for 06-06-2011
5- Nifty Spot-Weekly Levels & Trading Strategy(Jun 06 to Jun 10,2011)
6- FII & DII trading activity in Capital Market Segment on 03-Jun-2011
7- Nifty-Micro Analysis of Intra Day Chart For 06-06-2011
8- FII Trading Data in Derivatives Segment on 03-Jun-2011
9- Nifty-Micro Analysis of 5 days Intra Day Chart For 06-06-2011
10- Why Range of 5459-5473 is strong Support?
11-Most Bullish Pattern formation Indications
Important News
1- GDP to grow by up to 9.5% annually over next few years:Moody's
2- India to test fire Agni-V by year-end
3-Costlier food, fuel will dent India's growth most in Asia, says ADB
4-National manufacturing policy shortly, says Anand Sharma
5-Hardening interest rates, fuel prices pinch car sales momentum
Indian Stock Markets Closing Reports(03-06-2011)
1- Black Candle.
2- Engulfing Bearish Pattern
3- Selling on the news of Reliance Ind. AGM news
4- Last 3 Hours support between 5510-5535
Ratios
Nifty Put Call Ratio: 1.04
Nifty P/E Ratio(02-06-2011): 20.49
Advances & Declines
BSE ADVANCES : 1308
BSE DECLINES : 1502
NSE ADVANCES : 580
NSE DECLINES : 824
Nifty Open Interest Changed Today
Nifty- 5400 CE(03-06-2011)- +141750(+5.96%)
Nifty- 5400 PE(03-06-2011)- -102900(-1.36%)
Nifty- 5500 CE(03-06-2011)- +650150(+19.41%)
Nifty- 5500 PE(03-06-2011)- -675250(-10.53%)
Nifty- 5600 CE(03-06-2011)- +967700(+20.11%)
Nifty- 5600 PE(03-06-2011)- -121400(-4.38%)
Closing
Nifty- closed at 5,516.75(-33.60 Points & -0.61%)
Sensex- closed at 18,376.48(-117.70 Points & -0.64%)
CNX MIDCAP - closed at 7,992.95(-29.10 Points & -0.36%)
BSE SMALL CAP- closed at 8,238.69(-4.15 Points & -0.05%)
Nifty Spot-Levels & Trading Strategy for 06-06-2011
Nifty Spot-Levels R3 5674
R2 5639
R1 5577
Avg 5542
S1 5480
S2 5445
S3 5383
Nifty Spot-Trading Strategy
H6 5613 Trgt 2
H5 5591 Trgt 1
H4 5569 Long breakout
H3 5542 Go Short
H2 5533
H1 5524
L1 5507
L2 5498
L3 5489 Long
L4 5462 Short Breakout
L5 5440 Trgt 1
L6 5418 Trgt 2
Bank Nifty(Jun Fut)-Levels & Trading Strategy for 06-06-2011
Bank Nifty(Jun Fut)-Levels R3 11111
R2 11025
R1 10893
Avg 10807
S1 10675
S2 10589
S3 10457
Bank Nifty(Jun Fut)-Trading Strategy
H6 10979 Trgt 2
H5 10930 Trgt 1
H4 10880 Long breakout
H3 10820 Go Short
H2 10800
H1 10780
L1 10741
L2 10721
L3 10701 Long
L4 10641 Short Breakout
L5 10591 Trgt 1
L6 10542 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Jun 06 to Jun 10,2011)
Nifty Spot-Weekly LevelsR3 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.
"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"
"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.
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)
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.
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)
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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)
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