Two Bullish Candles in today EOD Charts

Technical Analysis and Research For 22-11-2011

Nifty-EOD Chart(21-Nov-2011):-

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Technical Patterns and Formations in EOD charts

1- Gravestone Doji Bullish Candle
2- Bullish harami candle

Conclusions

Low to moderate reliable reversal patterns within and just above crucial support range(4745-4800) today therefore up moves expectations are alive and confirmations will be after follow up buying and consolidations tomorrow as well as sustaining above 4868.

Nifty-Micro Analysis of Intra Day Chart For 23-11-2011

Nifty-Intra Day Chart(22-Nov-2011):-

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Technical Patterns and Formations in today intraday charts

1- Buying between 4784-4810
2- Selling between 4825-4852
3- Whole day trading between 4783-4854

Conclusions from intra day chart analysis 

Although higher levels good selling but lower levels buying also seen therefore view will not be bearish despite slipping from higher levels. Nifty traded between(4783-4854) today and immediate crucial ranges beyond these two ranges are as follows;-

1- Support range within and below today trading range 4745-4800
2- Resistance range within and above today trading range 4850-4868

Expected that Nifty will firstly move within 4745-4868 tomorrow and finally break out and sustaining beyond this range as well as will give following decisive conclusions;-

1- Below 4745 will mean high possibility of crashing like situations
2- Above 4868 will mean fresh up moves within 63 sessions range(4720-5229)

Indian Stock Markets Closing Reports(22-Nov-2011)

Main features of today trading are as follows

1- All the Indices closed in Green except FMCG and CD.
2- Doji Candle.
3- Closing at lower levels after selling at higher levels.


Ratios

Nifty Put Call Ratio: 0.88
Nifty P/E Ratio(22-Nov-2011): 17.42

Advances & Declines

BSE ADVANCES : 1360
BSE DECLINES : 1416
NSE ADVANCES : 736
NSE DECLINES : 705

Nifty Open Interest Changed Today

Nifty- 4700 CE(Nov)- -24650(-2.16%)
Nifty- 4700 PE(Nov)- +1065900(+18.19%)

Nifty- 4800 CE(Nov)- +90100(+2.53%)
Nifty- 4800 PE(Nov)- +114600(+2.10%)

Closing 

Nifty- closed at 4,812.35(+34.00 Points & +0.71%)
Sensex- closed at 16,065.42(+119.32 Points & +0.75% )
CNX MIDCAP - closed at 6,577.95(+37.00 Points & +0.57%)
BSE SMALL CAP- closed at 6,080.57(+1.91 Points & +0.03%)

Nifty Spot-Levels & Trading Strategy for 23-11-2011

Nifty Spot-Levels

R3 4922
R2 4888
R1 4850
Avg 4816
S1 4778
S2 4744
S3 4706

Nifty Spot-Trading Strategy

H6 4884     Trgt 2
H5 4868     Trgt 1
H4 4851     Long breakout
H3 4831     Go Short
H2 4825
H1 4818
L1 4805
L2 4798
L3 4792     Long
L4 4772     Short Breakout
L5 4755     Trgt 1
L6 4739     Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 23-11-2011

Nifty(Nov Fut)-Levels

R3 4930
R2 4895
R1 4850
Avg 4815
S1 4770
S2 4735
S3 4690

Nifty(Nov Fut)-Trading Strategy

H6 4885     Trgt 2
H5 4867     Trgt 1
H4 4849     Long breakout
H3 4827     Go Short
H2 4819
H1 4812
L1 4797
L2 4790
L3 4783     Long
L4 4761     Short Breakout
L5 4742     Trgt 1
L6 4724     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 23-11-2011

Bank Nifty(Nov Fut)-Levels

R3 8878
R2 8794
R1 8694
Avg 8610
S1 8510
S2 8426
S3 8326

Bank Nifty(Nov Fut)-Trading Strategy

H6 8779     Trgt 2
H5 8737     Trgt 1
H4 8695     Long breakout
H3 8644     Go Short
H2 8627
H1 8610
L1 8577
L2 8560
L3 8543     Long
L4 8492     Short Breakout
L5 8450     Trgt 1
L6 8408     Trgt 2

Pre-Closing Outlook(22-11-2011)

Intraday technical positions have already been explained in all previous outlooks. Intraday selling seen between 4825-4852 today and it will ne next resistance. Minor intraday support seen at lower levels between 4780-4810.

Mixed intraday pattterns between 4780-4852 and sustaining beyond this range will be firstly watched tomorrow for confirmation.

Mid-session Outlook-2(22-11-2011)

Although Indian markets recovered from lower levels and whole day moved up also but intraday patterns are suggesting selling formations and selling seen at higher levels today. As selling seen just below next resistance range(4850-4868) therefore Until Nifty will sustain 4868 till then next up move will not be considered.

Decisive moves confirmation levels

Mid-session Outlook(22-11-2011)

Today trading Range of 4780-4830 was given and Nifty traded most of the time within this range. Although Nifty moved above 4830 but could not sustained above and reversed into mentioned range after minor intraday selling. Next Resistances are as follows:-

1- 4818-4830(Minor) 
2- 4850-4868(strong)

Last support range of previous 62 sesssions is:-

4745-4800

Sustaining beyond 4780-4830 will be firstly watched for first step towards next decisive moves because next moves confirmations will be either above 4868 or below 4745.

Most uncertain news flow and highly volatile global markets therefore only sustaining beyond crucial levels will be next moves confirmations.

Pre-open Outlook(22-11-2011)

Although US and European markets closed in deep Red yesterday but its futures are Asian markets are .45% to 1% up today morning and all the Asian markets are flat today morning therefore Indian markets will also open flat to positive today. Short term indicators are oversold after more than 600 Nifty points straight fall therefore its correction in the form of pull back rally is on cards and if devastating news flow stops then up moves will start.

Market require complete consolidation minimum first resistance crossing will be next up moves confirmation. Nifty will firstly trade between 4780-4830 and prepare for next moves,crossing of this range will be next moves confirmation.

FII Trading Data in Derivatives Segment on 21-Nov-2011

FII & DII trading activity in Capital Market Segment on 21-Nov-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 21-Nov-2011 1886.49 2629.51 -743.02

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 21-Nov-2011 1351.35 755.8 595.55

Nifty-Micro Analysis of Intra Day Chart For 22-11-2011

Nifty-Intra Day Chart(21-Nov-2011):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 4850-4868
2- Sharp fall.
3- Whole day trading between 4767-5869

Conclusions from intra day chart analysis 

All trends are down and market tumbled after slipping of US Futures and crashing other global markets. Nifty tested 5th time last support range(4745-4800) of 61 sessions today and sustaining beyond this range should be watched in the coming sessions. Global cues are highly uncertain and markets are extremely volatile therefore sustaining beyond of crucial ranges will be next moves confirmation only should be firstly watched 4745-4800.

Indian Stock Markets Closing Reports(21-Nov-2011)

Main features of today trading are as follows

1- All the Indices closed in Red.
2- Long Black Candle.
3- Crashing Global cues led weaker market today.

Ratios

Nifty Put Call Ratio:  0.87
Nifty P/E Ratio(21-Nov-2011): 17.30

Advances & Declines

BSE ADVANCES : 792
BSE DECLINES : 1981
NSE ADVANCES : 344
NSE DECLINES : 1114

Nifty Open Interest Changed Today

Nifty- 4700 CE(Nov)- +949350(+440.94%)
Nifty- 4700 PE(Nov)- +807000(+15.34%)

Nifty- 4800 CE(Nov)- +1870650(+99.43%)
Nifty- 4800 PE(Nov)- +384400(+6.58%)

Closing 

Nifty- closed at 4,778.85(-127.45 Points & -2.60%)
Sensex- closed at 15,946.10(-425.41 Points & -2.60% )
CNX MIDCAP - closed at 6,533.45(-98.50 Points & -1.48%)
BSE SMALL CAP- closed at 6,078.66(-103.65 Points & -1.68%)

Nifty Spot-Levels & Trading Strategy for 22-11-2011

Nifty Spot-Levels

R3 4955
R2 4914
R1 4846
Avg 4805
S1 4737
S2 4696
S3 4628

Nifty Spot-Trading Strategy

H6 4887     Trgt 2
H5 4862     Trgt 1
H4 4837     Long breakout
H3 4807     Go Short
H2 4797
H1 4787
L1 4768
L2 4758
L3 4748     Long
L4 4718     Short Breakout
L5 4693     Trgt 1
L6 4668     Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 22-11-2011

Nifty(Nov Fut)-Levels

R3 4963
R2 4921
R1 4852
Avg 4810
S1 4741
S2 4699
S3 4630

Nifty(Nov Fut)-Trading Strategy

H6 4894     Trgt 2
H5 4869     Trgt 1
H4 4844     Long breakout
H3 4813     Go Short
H2 4803
H1 4793
L1 4772
L2 4762
L3 4752     Long
L4 4721     Short Breakout
L5 4696     Trgt 1
L6 4671     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 22-11-2011

Bank Nifty(Nov Fut)-Levels

R3 9010
R2 8905
R1 8730
Avg 8625
S1 8450
S2 8345
S3 8170

Bank Nifty(Nov Fut)-Trading Strategy

H6 8836     Trgt 2
H5 8772     Trgt 1
H4 8709     Long breakout
H3 8632     Go Short
H2 8606
H1 8580
L1 8529
L2 8503
L3 8478     Long
L4 8401     Short Breakout
L5 8337     Trgt 1
L6 8273     Trgt 2

Pre-Closing Outlook(21-11-2011)

Global markets tumbled today. Dow's Futures is more than 165 points down and all the Europen markets are also more than 2% down therefore sentiment dampened again and Nifty tested last support range(4745-4800) of 61 sessions trading range. It is the most crucial support range and Nifty reversed from this range 4 times earlier as well as slipping below 4745 will mean crashing like situations.

Nifty tested 5th time last support range(4745-4800) of 61 sessions today and sustaining beyond this range should be watched in the coming sessions. Global cues are highly uncertain and markets are extremely volatile therefore sustaining beyond of crucial ranges will be next moves confirmation only should be firstly watched 4745-4800.

Mid-session Outlook(21-11-2011)

Intraday selling confirmations between 4850-4868 today and more down moves as well as next supports near 4720 testing will be seen now.

Pre-open Outlook(21-11-2011)

Dow's Futures is more than 70 points down,all the Europen markets futures are also negative and all the Asian markets are also in Red therefore sentiment is extremely depressed today morning and weak opening will be seen in Indian markets.

Indian markets got good support at lower levels(4839-4874) but mixed intraday patterns were also seen between( 4891-4908)last Friday and Nifty will firstly trade and prepare for next moves between last Friday range(4839-4908) and sustaining it beyond will be next moves confirmation.

All trends are down and Indian markets are range bound(4720-5229) for the last 61 sessions therefore intermediate term trend is sideways and break out of last Friday range will be next short term moves confirmation.

Rally is on after good support at 4839 last Friday

Technical Analysis,Research and Weekly Outlook (Nov 21 to Nov 25,2011))

Nifty-EOD Chart(18-Nov-2011):-

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Technical Patterns and Formations in EOD charts

1- March 2009 rally top at 6338 on 05-11-2010
2- Last one year correction in falling trend line
3- Nifty retraced 4 times from falling trend line in last one year
4- Pull Back Rally started in Oct 2011 from 4728 and its correction is on.
5- Nifty has corrected upto 4837.

Nifty-EOD Chart(18-Nov-2011):-

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Technical Patterns and Formations in EOD charts

1- 61 Sessions range bound market between 4720-5229
2- Previously Nifty traded 54 sessions between 4720-5229.
3- Strong gap up 54 sessions break out was seen on 28-10-2011.
4- Nifty traded 8 sessions above 5229 but could not sustain above 5229 and reentered again within previous 54 sessions trading range.
5- Nifty again traded and closed in last 7 days between previous 54 sessions range.

Nifty-Intra Day Chart(18-Nov-2011):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 4839-4874
2- Last 40 minutes mixed Patterns between 4891-4908
3- Intraday consolidation patterns
4- Whole day trading between 4839-4908

Conclusions from intra day chart analysis 


Nifty traded whole day between 4839-4908 and following line was told in Pre-open Outlook(18-11-2011):-

"Testing,firstly trading and next moves preparation within yesterday mentioned 1st support range (4845-4900) will be seen today" 

Nifty traded almost whole day within mentioned 1st support range and prepare for next moves.

Following line was told in Mid-session Outlook-2

"Lower levels support and intraday patterns are indicating consolidation formations"

Firstly more than 4 hours consolidation and after that up moves in last one hour and Nifty crossed as well as closed above 4900. Market got good support within mentioned 1st support range and necely consolidated as well therefore short term up moves possibilities are high. As last 40 minutes mixed Patterns between 4891-4908 therefore sustaining above 4900 should be firstly watched next Monday for short term up moves confirmations.


Conclusions (After putting all indicators together)

Falling trend line again proved fatal for Oct 2011 Pull Back Rally and Nifty again reatraced from it. Correction is on and last 2 support ranges of Oct 2011 rally are as follows:-

1- 4845-4900
2- 4745-4800

Oct 2011 Pull Back Rally started from 4728 and completed at 5400. Its Fibonacci Retracement Levels are as follows:-

13.0%- 5312
23.6%- 5241
27.0%- 5218
38.2%- 5143
50.0%- 5064
61.8%- 4984
70.7%- 4924
76.4%- 4886
78.6%- 4871(Tested and closed above after good consolidation below it)
88.6%- 4804(Only last level testing is left)

Oct 2011 rally has retraced more than 83% and got good support within 4839-4874 on 18-11-2011 as well as nice consolidation and base formation seen also. As Nifty again got support within previous support range(4845-4900) yesterday therefore it is a strong sign of strength and first signal of correction completion of Oct 2011 rally.

Rally have started after getting good support at 4839 last Friday and expected that rally  will remain continued after follow up buying in the beginning of next week. Sustaining above 4900 should be firstly watched next Monday for confirmations.