Mid-session Outlook-2(13-06-2011)

Following lines were told in What will be Indian markets reaction on Dow's 175 points crash? yesterday:-

Whatsoever may be depressing Asian markets reaction on US market 1.5% last Friday down but Nifty will first trade between 5400-5473 and prepare for next moves. 


As We told  100% same happened and Nifty prepared for next moves within mentioned range(5400-5473) and after that did not followed weak US and Asian markets but followed our upmoves prediction of Post-open Outlook(13-06-2011)

Sustainability above 5480 will be watched for up moves confirmations. Strong resistances between 5522-5604 therefore market requires consolidations before every rise. Expected that Indian markets will consolidate and will move up.

5480-5522 break out should be watched for first signal of next moves confirmations.

Mid-session Outlook(13-06-2011)

When Indian markets were trading near today's lows then following lines were told in Post-open Outlook today:-

As two following support ranges within 5438-5480 therefore up side break out possibility of this range can not be rules out also despite Red zone trading since today morning :-

1- 5438-5445(Today)
2- 5460-5480(Last Friday)

Nifty is trading above 5480 and also expected that will condolidate and sustain above it. Strong resistance above 5522 therefore market require consolidations before any up move.

Indian markets did not crashed after US markets 1.5% down today and all my Outlooks for today markets are live proof of this fact that I never told for weak market in most depressing sentiments and also predicted today up moves well before its begining in Post-open Outlook today.

Post-open Outlook(13-06-2011)

Nifty is trading below 5457 because heavy weight RIL is also trading more that 2% down today. Sustaining below 5457 will be fresh down moves confirmations but intraday support between 5438-5445 today also therefore down moves confirmation will be below 5438. As Consolidations seen between 5460-5480 last Friday therefore selling below 5457 and moving below 5438 is must for down moves confirmations and moves above 5480 will be up moves confirmations also.

Completely range bound markets with strong supports at lower levels and strong resistances at higher levels. Let market finally prepare for decisive trend then trending markets will commence and till then quiet range bound moves will be seen.

Although supports seen within 5438-5480 but Nifty is trading at the lower bend of this range therefore  sustaining beyond this range will be strong indication of next moves. As two following support ranges within 5438-5480 therefore up side break out possibility of this range can not be rules out also despite Red zone trading since today morning :-


1- 5438-5445(Today)
2- 5460-5480(Last Friday)

Pre-open Outlook(13-06-2011)

Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topicS with 4 Charts therefore not being repeated:-

1-Nifty-Micro Analysis of Intra Day Chart For 13-06-2011

2-Technical Analysis and Research(Waves Structure)

3-Wave-4 Correction,Wave-5 Formations & Inverse HNS

4-What will be Indian markets reaction on Dow's 175 points crash?

Although US markets closed about 1.5% down last Friday but Asian markets are moderately weak today morning and most are less than 1% down. Sentiment is not depressed,Nifty will open, firstly trade and prepare for next moves between 5457-5522. Strong resistances above 5522 and and good supports within this range.Break out and sustaining beyond mentioned range will give confirmation to next those moves which have already been discussed in above topics yesterday. 

What will be Indian markets reaction on Dow's 175 points crash?

Weekly Outlook(Jun 13 to Jun 17,2011)

Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topicS with 3 Charts therefore not being repeated:-

1-Nifty-Micro Analysis of Intra Day Chart For 13-06-2011
2-Technical Analysis and Research(Waves Structure)
3-Wave-4 Correction,Wave-5 Formations & Inverse HNS

Nifty-EOD Chart(10-06-2011):-

Just click on chart for its enlarged view

Main Features

1- Last 28 sessions range bound market between 5329-5605
2- Support,base formation and consolidation between 5459-5473
3- Strong support between 5329-5400
4- Strong resistance between 5522-5604

Conclusions

Indian markets slipped from 5604 after last 8 sessions selling between 5522-5604. Nifty tested last 10 days lows and tested lows of strong support range(5459-5473) but closed above it at 5485 last Friday after consolidations between 5460-5480.

As Nifty got support in strong support range(5459-5473) last Friday therefore :-

1- Until Nifty will not sustain below 5459 till then fresh down move will not be considered.
2- If Global pressure remains high on Monday and Nifty slips below 5459 then strong support range is 5329-5400 and market requires complete distribution patterns for sustaining below 5329.

As good selling between 5522-5604 and last Friday lower levels consolidations is not sufficient to move above 5522 therefore market requires complete consolidations below 5522 for any types of up moves also. Market require fresh preperation for any side directional moves and trending market.

Conclusions (After Putting All Studies Together)

All trends are down and Nifty is trading between 5329-5605 for the last 28 sessions with Inverse Head & Shoulders(HNS) pattern Formations. Strong resistances at higher levels and strong supports are at lower levels and Nifty closed almost in the middle of this range last Friday therefore Nifty can not go any where and will first trade and prepare for next moves between this range in the coming sessions and break out of this range will give decisive trend to Indian markets. Break out of this range will mean:-

1- Sustaing above 5605 will mean all trends are turning up and breaking out of after long range bound consolidations.
2- All trends are already down and sustaining below 5329 will mean breaking down after long range bound distributions.

Whatsoever may be depressing Asian markets reaction on US market 1.5% last Friday down but Nifty will first trade between 5400-5473 and prepare for next moves. Good supports below 5400 and Nifty require complete selling for slipping below 5329.

28 Sessions range bound markets and it is confirm that strong moves toward break out side will be seen. Follow up buying/selling in the coming couple of sessions will decide that Nifty will test next suooprts or resistances and Next moves first indication will be sustaining beyond 5400-5473.

Firstly range bound quiet trading between 5329-5605 will be seen and if this range is broken out in the coming week then decisive fast moves toward break out side will be seen.

Wave-4 Correction,Wave-5 Formations & Inverse HNS

Nifty-EOD Chart(10-06-2011):-

Just click on chart for its enlarged view

Main Features


1- 'ABC' Correction in Wave-4
2- 'C' corrective wave of Wave-4 completed 5 waves and correction completed
3-  Impulsive Waves-5 started but Nifty is trading and sustaining below it for the last 22 sessions.
4-  Continuation patterns formation in Wave-5 but Nifty is trading and sustaining below its rising trend line for the last 22 sessions.
5- Inverse Head & Shoulders(HNS) Formations in last 28 sessions.

Conclusions

Wave-4 'ABC' Correction completed but Nifty is trading below Wave-5 Trend Line and sustaining below it for the last 22 sessions therefore Wave-5 failure possibility can not be ruled out. Wave-5 failure confirmation level is sustaining below 5178. Inverse Head & Shoulders(HNS) Formations(Bullish) in last 28 sessions between 5329-5605 also therefore breaking out of this range will decide next long term and strong trend because:-

1- Sustaing above 5605 will mean all trends are turning up and breaking out of after long range bound consolidations.
2- All trends are already down and sustaining below 5329 will mean breaking down after long range bound distributions.

Technical Analysis and Research(Waves Structure)

Nifty-EOD Chart(10-06-2011):-

Just click on chart for its enlarged view

Main Features

1st impulsive wave begun on 27-10-2008 from 2252
2nd corrective wave begun on 12-06-2009 from 4693
3rd impulsive wave begun on 13-07-2009 from 3919
4th corrective wave begun on 05-11-2010 from 6338(2419 Points rally of Wave-3)
5th impulsive wave begun on 11-02-2011 from 5178(1160 Points correction of Wave-4)

Conclusions

Wave-4 'ABC' Correction completed but Nifty is trading below Wave-5 Trend Line and sustaining below it for the last 22 sussions therefore Wave-5 failure possibility can not be ruled out. Wave-5 failure confirmation level is sustaining below 5178.

US markets are more than 1.25% down at this moment and if US markets closes in deep Red today then its impact will be seen on Monday Asian markets. Firstly US markets closing will be seen and its impacts on Indian markets will be understood and discussed in the next 2 days outlooks.

12 Recent Topics,Technical Analysis,News & Research For 13-06-2011 Trading

12 Topics have been posted for 13-06-2011 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-Nifty Spot-Weekly Levels & Trading Strategy(Jun 13 to Jun 17,2011)
2-Bank Nifty(Jun Fut)-Levels & Trading Strategy for 13-06-2011
3-Nifty(Jun Fut)-Levels & Trading Strategy for 13-06-2011
4-Nifty Spot-Levels & Trading Strategy for 13-06-2011
5-FII & DII trading activity in Capital Market Segment on 10-Jun-2011
6-Indian Stock Markets Closing Reports(10-06-2011)
7-FII Trading Data in Derivatives Segment on 10-Jun-2011
8-Nifty-Micro Analysis of Intra Day Chart For 13-06-2011

Important News

1-Inflation, rates cool IIP growth to 6.3%
2-Poll: May inflation seen rising to 8.7%
3-Exports post fastest growth since Mar '04
4- Emerging markets need more coordination

Nifty-Micro Analysis of Intra Day Chart For 13-06-2011

Nifty-Intra Day Chart(10-06-2011):-

Just click on chart for its enlarged view

Main Features

1- Selling between 5495-5515
2- Buying patterns between 5482-5492
3- Consolidations between 5460-5480

Conclusions

Indian markets slipped after higher levels selling between 5495-5515 but buying patterns seen between 5482-5492 and consolidations seen between 5460-5480. Market moved up after consolidation between  5460-5480 and closed between above mentioned buying patterns range at 5485.

Nifty tested 10 days lows and got intraday support between crucial support range(5460-5480) today and recovered also with intraday consolidation patterns therefore technically crucial support range(5460-5480) is not broken and still maintained its validity. 

US markets are more than 1.25% down at this moment and if US markets closes in deep Red today then its impact will be seen on Monday Asian markets. Firstly US markets closing will be seen and its impacts on Indian markets will be understood and discussed in the next 2 days outlooks.

FII Trading Data in Derivatives Segment on 10-Jun-2011

Indian Stock Markets Closing Reports(10-06-2011)

Main features of today trading are as follows

1- Negative Global cues led weak market and Red closing
2- All the Indices closed in Red except CD.
3- Selling at higher levels and buying at lower levels.

Ratios

Nifty Put Call Ratio: 0.84
Nifty P/E Ratio(10-06-2011): 20.26

Advances & Declines

BSE ADVANCES : 1175
BSE DECLINES : 1708
NSE ADVANCES :  485
NSE DECLINES :  903

Nifty Open Interest Changed Today

Nifty- 5400 CE(Jun)- +100650(+3.75%)
Nifty- 5400 PE(Jun)- -475050(-5.13%)

Nifty- 5500 CE(Jun)- +1567200(+36.04%)
Nifty- 5500 PE(Jun)- -1123150(-16.57%)

Nifty- 5600 CE(Jun)- +837750(+13.61%)
Nifty- 5600 PE(Jun)- -278000(-9.24%)

Closing

Nifty- closed at 5,485.80(-35.25 Points & -0.64%)
Sensex- closed at 18,268.54(-116.36 Points & -0.63% )
CNX MIDCAP - closed at 7,992.05(-25.15 Points & -0.31%)
BSE SMALL CAP- closed at 8,288.46(-37.89 Points & -0.46%)

FII & DII trading activity in Capital Market Segment on 10-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 10-Jun-2011 2026.81 2196.86 -170.05

DII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 10-Jun-2011 839.45 502.47 336.98

Nifty Spot-Levels & Trading Strategy for 13-06-2011

Nifty Spot-Levels

R3 5582
R2 5551
R1 5518
Avg 5487
S1 5454
S2 5423
S3 5390

Nifty Spot-Trading Strategy

H6 5549     Trgt 2
H5 5534     Trgt 1
H4 5520     Long breakout
H3 5502     Go Short
H2 5496
H1 5490
L1 5479
L2 5473
L3 5467     Long
L4 5449     Short Breakout
L5 5435     Trgt 1
L6 5420     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 13-06-2011

Nifty(Jun Fut)-Levels

R3 5587
R2 5553
R1 5518
Avg 5484
S1 5449
S2 5415
S3 5380

Nifty(Jun Fut)-Trading Strategy

H6 5553     Trgt 2
H5 5537     Trgt 1
H4 5521     Long breakout
H3 5502     Go Short
H2 5496
H1 5490
L1 5477
L2 5471
L3 5465     Long
L4 5446     Short Breakout
L5 5430     Trgt 1
L6 5414     Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 13-06-2011

Bank Nifty(Jun Fut)-Levels

R3 11011
R2 10913
R1 10803
Avg 10705
S1 10595
S2 10497
S3 10387

Bank Nifty(Jun Fut)-Trading Strategy

H6 10903     Trgt 2
H5 10856     Trgt 1
H4 10808     Long breakout
H3 10751     Go Short
H2 10732
H1 10713
L1 10674
L2 10655
L3 10636     Long
L4 10579     Short Breakout
L5 10531     Trgt 1
L6 10484     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Jun 13 to Jun 17,2011)

Nifty Spot-Weekly Levels

R3 5664
R2 5617
R1 5551
Avg 5504
S1 5438
S2 5391
S3 5325

Nifty Spot-Weekly Trading Strategy 

H6 5598     Trgt 2
H5 5572     Trgt 1
H4 5547     Long breakout
H3 5516     Go Short
H2 5505
H1 5495
L1 5474
L2 5464
L3 5453     Long
L4 5422     Short Breakout
L5 5397     Trgt 1
L6 5371     Trgt 2

Pre-closing Outlook(10-06-2011)

Range bound lesser volumes market for the last 27 sessions. Such type of market are guided by news flow and global cues. Indian markets firstly slipped after weaker Asian cues and recovered from day's lower levels after up moves in European markets. Nifty tested and traded in crucial support range(5460-5480) almost 2 hours today and will close within or above this range because intraday support signals emerged within it.

5460-5480 is most crucial support range and sustaining below it will mean high possibility of deeper correction. As intraday support seen within it and today down moves were the result of depressing Global cues and except this support getting signals were seen in 5482-5492 today therefore it is clear that Indian markets are not prepared for any side decisive moves.

When market itself is not prepared for any side decisive moves,reacting global cues and news flow and intraday patterns are not showing big trading positions then final conclusions should be drawn:-

1- from decisive break out or
2- Breaking out of any crucial support/resistance or
3- One sided trading positions in intraday trades.

Although Indian markets are closing in Red today but following 2 minor support ranges therefore view is not bearish:-

1- 5482-5492
2- 5460-5480

Mid-session Outlook-4(10-06-2011)

All the Asian markets closed near day,s lows except SSE Composite Index,All European markets opened in Red and trading in negative zone and Dow's futures is also trading 40 points down therefore sentiment dampened and Indian markets slipped from 5482 and now Nifty is trading between next support range(5460-5480).

Heavy global storm since opening today therefore down moves are being seen today and Nifty is trading within most crucial support(5460-5480). Sustaining below 5460 will mean high possibility of deeper correction begining.

Mid-session Outlook-3(10-06-2011)

All the Asian markets slipped from day's higher levels and either closed near day's lower levels or trading near day's lower levels. Indian markets also followed Asian markets and Nifty is trading below 5500 after intraday selling between 5500-5515.

Although IIP data was above expectations but Asian markets pressure is heavy today and Nifty is trading between support range of 5582-5592. Selling seen at higher levels therefore possibility of moving below 5582 can not be ruled out. As 5582-5592 is support range therefore trading patterns within this range will be watched also because supports getting signals are being emerged within it today.

Markets are completely range bound and final trend will begin after breaking of any key level. Minor up/down moves will be seen according to intraday buying or selling.

Today trading range at this moment(5482-5518) should be used for next immediate move confirmations.

Mid-session Outlook-2(10-06-2011)

Although positive IIP data but selling signals emerged between 5500-5515 today and Nifty sustaining below 5500 will mean high possibility of moving below 5480 and more down levels also.