Consolidation signals emerged at lower levels today therefore short term up moves are expected and correction completion confirmation will be after sustaining above 4890.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Post-open Outlook(09-12-2011)
Following lines were told in 2 previous lotlooks which proved 100% accurate today:-
1- In Pre-Closing Outlook yesterday-"more down moves possibilities turned higher after breaking down of that support range in which Nifty is trading(4920-4950)"
2- Pre-open Outlook today-"Nifty will firstly trade between 4840-4890 after gap down opening. Indian markets will prepare for next moves within this range"
Nifty traded most of the time between 4840-4890 in first hour after gap down opening today but only high volatility and sharp intraday surge after 17 European countries agreement positive news. As 50.0% retracement level(4869) is also lying within mentioned today 1st trading range therefore this range is crucial and sustaining beyond this range will be next moves confirmation.
Only volatility within mentioned range today therefore no conclusive intraday patterns formations. Let market prepare and formation of intraday patterns complete then conclusions will be posted in the coming outlooks in the same manner as was told for down moves possibility in Pre-Closing Outlook yesterday.
1- In Pre-Closing Outlook yesterday-"more down moves possibilities turned higher after breaking down of that support range in which Nifty is trading(4920-4950)"
2- Pre-open Outlook today-"Nifty will firstly trade between 4840-4890 after gap down opening. Indian markets will prepare for next moves within this range"
Nifty traded most of the time between 4840-4890 in first hour after gap down opening today but only high volatility and sharp intraday surge after 17 European countries agreement positive news. As 50.0% retracement level(4869) is also lying within mentioned today 1st trading range therefore this range is crucial and sustaining beyond this range will be next moves confirmation.
Only volatility within mentioned range today therefore no conclusive intraday patterns formations. Let market prepare and formation of intraday patterns complete then conclusions will be posted in the coming outlooks in the same manner as was told for down moves possibility in Pre-Closing Outlook yesterday.
Pre-open Outlook(09-12-2011)
Technical Analysis and Research of EOD and Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 2 Charts therefore not being repeated:-
Correcion of Pull Back Rally is on
Asian markets are .70% to 1.4% down today morning after weak closing in US and European markets yesterday therefore sentiment is dampened and Nifty will firstly trade between 4840-4890 after gap down opening. Indian markets will prepare for next moves within this range and follow up buying/selling within this range as well as sustaining beyond this range will be next immediate moves confirmation.
Correcion of Pull Back Rally is on was posted yesterday and one addition in last lines which is as follows;-
1- 50.0% retracement level- 4869
2- 61.8% retracement level- 4815
3- Next support range- 4755-4800
Correcion of Pull Back Rally is on
Technical Analysis,Researches & Market Outlook(9-12-2011)
Fibonacci Retracement Levels in Nifty-EOD Chart(08-Dec-2011):-
Technical Patterns and Formations in EOD charts
1- 8 sessions Pull Back rally.
2- Rally completion near 61.8% retracement level
3- correction of rally is on.
Conclusions
Down moves started from 5400 on 28-10-2011 which stopped and reversed at 4640. Main Fibonacci Retracement upward Levels of this down move are as follows:-
23.6%- 4819
38.2%- 4930
50.0%- 5020
61.8%- 5109
76.4%- 5220
Short term up moves begun from 4640 which halted near 61.8% retracement levels at 5099 and its correction commenced. Main Fibonacci Retracement upward Levels of thort term up moves are as follows:-
23.6%- 4990
38.2%- 4923
50.0%- 4869
61.8%- 4815
76.4%- 4748
Nifty closed at 4944 after forming low at 4922 on 8-12-2011. Next supports within Pull Back Rally(4640-5099) are as folllows:-
1- 4920-4950
2- 4755-4800
3- 4645-4720
Nifty-Micro Analysis of Intra Day Chart For 09-12-2011
Nifty-Intra Day Chart(08-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Two hours straight fall immediately after opening.
2- Last more than 4 hours sideways trading between 4928-4980 with intraday selling patterns
3- Whole day trading between 4922-5049
Conclusions from intra day chart analysis
As selling patterns were concluded from intraday charts analysis therefore following lines were updated in Pre-Closing Outlook today and being repeated as conclusion from today intraday charts analysis:-
"last 4 hours sideways trading between 4928-4980 with intraday selling patterns therefore more down moves possibilities turned higher after breaking down of that support range in which Nifty is trading(4920-4950)"
Conclusions (After Putting All Studies Together)
Correction is on and more down moves are expected after more than 4 hours intraday selling patterns today within above mentioned 1st support range. Complete consolidation patterns are required for stopping and reversal of today started down moves. Let on going correction stop and consolidation start then fresh up moves will be considered and for this purpose following level and support range will be firstly watched:-
1- 61.8% retracement level- 4815.
2- Next support range- 4755-4800
Fibonacci Retracement Levels in Nifty-EOD Chart(08-Dec-2011):-
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| Just click on chart for its enlarged view |
1- 8 sessions Pull Back rally.
2- Rally completion near 61.8% retracement level
3- correction of rally is on.
Conclusions
Down moves started from 5400 on 28-10-2011 which stopped and reversed at 4640. Main Fibonacci Retracement upward Levels of this down move are as follows:-
23.6%- 4819
38.2%- 4930
50.0%- 5020
61.8%- 5109
76.4%- 5220
Short term up moves begun from 4640 which halted near 61.8% retracement levels at 5099 and its correction commenced. Main Fibonacci Retracement upward Levels of thort term up moves are as follows:-
23.6%- 4990
38.2%- 4923
50.0%- 4869
61.8%- 4815
76.4%- 4748
Nifty closed at 4944 after forming low at 4922 on 8-12-2011. Next supports within Pull Back Rally(4640-5099) are as folllows:-
1- 4920-4950
2- 4755-4800
3- 4645-4720
Nifty-Micro Analysis of Intra Day Chart For 09-12-2011
Nifty-Intra Day Chart(08-dec-2011):-
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| Just click on chart for its enlarged view |
1- Two hours straight fall immediately after opening.
2- Last more than 4 hours sideways trading between 4928-4980 with intraday selling patterns
3- Whole day trading between 4922-5049
Conclusions from intra day chart analysis
As selling patterns were concluded from intraday charts analysis therefore following lines were updated in Pre-Closing Outlook today and being repeated as conclusion from today intraday charts analysis:-
"last 4 hours sideways trading between 4928-4980 with intraday selling patterns therefore more down moves possibilities turned higher after breaking down of that support range in which Nifty is trading(4920-4950)"
Conclusions (After Putting All Studies Together)
Correction is on and more down moves are expected after more than 4 hours intraday selling patterns today within above mentioned 1st support range. Complete consolidation patterns are required for stopping and reversal of today started down moves. Let on going correction stop and consolidation start then fresh up moves will be considered and for this purpose following level and support range will be firstly watched:-
1- 61.8% retracement level- 4815.
2- Next support range- 4755-4800
FII & DII trading activity in Capital Market Segment on 08-Dec-2011
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Indian Stock Markets Closing Reports(08-Dec-2011)
Main features of today trading are as follows
1- Long Black Candle.
2- All the indices closed in Red.
3- Whole day down moves with closing near lowest levels of the day.
Ratios
Nifty Put Call Ratio: 1.10
Nifty P/E Ratio(08-Dec-2011): 17.90
Advances & Declines
BSE ADVANCES : 839
BSE DECLINES : 1929
NSE ADVANCES : 312
NSE DECLINES : 1135
Nifty Open Interest Changed Today
Nifty- 4900 CE(Dec)- +667700(+20.03%)
Nifty- 4900 PE(Dec)- -207200(-4.01%)
Nifty- 5000 CE(Dec)- +785450(+16.81%)
Nifty- 5000 PE(Dec)- -834450(-16.10%)
Closing
Nifty- closed at 4,943.65(-118.95 Points & -2.35%)
Sensex- closed at 16,488.24(-388.82 Points & -2.30% )
CNX MIDCAP - closed at 6,693.60(-141.15 Points & -2.07%)
BSE SMALL CAP- closed at 6,108.00(-99.90 Points & -1.61%)
1- Long Black Candle.
2- All the indices closed in Red.
3- Whole day down moves with closing near lowest levels of the day.
Ratios
Nifty Put Call Ratio: 1.10
Nifty P/E Ratio(08-Dec-2011): 17.90
Advances & Declines
BSE ADVANCES : 839
BSE DECLINES : 1929
NSE ADVANCES : 312
NSE DECLINES : 1135
Nifty Open Interest Changed Today
Nifty- 4900 CE(Dec)- +667700(+20.03%)
Nifty- 4900 PE(Dec)- -207200(-4.01%)
Nifty- 5000 CE(Dec)- +785450(+16.81%)
Nifty- 5000 PE(Dec)- -834450(-16.10%)
Closing
Nifty- closed at 4,943.65(-118.95 Points & -2.35%)
Sensex- closed at 16,488.24(-388.82 Points & -2.30% )
CNX MIDCAP - closed at 6,693.60(-141.15 Points & -2.07%)
BSE SMALL CAP- closed at 6,108.00(-99.90 Points & -1.61%)
Nifty Spot-Levels & Trading Strategy for 09-12-2011
Nifty Spot-Levels
R3 5149
R2 5099
R1 5021
Avg 4971
S1 4893
S2 4843
S3 4765
Nifty Spot-Trading Strategy
H6 5071 Trgt 2
H5 5042 Trgt 1
H4 5013 Long breakout
H3 4978 Go Short
H2 4966
H1 4954
L1 4931
L2 4919
L3 4907 Long
L4 4872 Short Breakout
L5 4843 Trgt 1
L6 4814 Trgt 2
R3 5149
R2 5099
R1 5021
Avg 4971
S1 4893
S2 4843
S3 4765
Nifty Spot-Trading Strategy
H6 5071 Trgt 2
H5 5042 Trgt 1
H4 5013 Long breakout
H3 4978 Go Short
H2 4966
H1 4954
L1 4931
L2 4919
L3 4907 Long
L4 4872 Short Breakout
L5 4843 Trgt 1
L6 4814 Trgt 2
Nifty(Dec Fut)-Levels & Trading Strategy for 09-12-2011
Nifty(Dec Fut)-Levels
R3 5175
R2 5124
R1 5040
Avg 4989
S1 4905
S2 4854
S3 4770
Nifty(Dec Fut)-Trading Strategy
H6 5091 Trgt 2
H5 5060 Trgt 1
H4 5030 Long breakout
H3 4993 Go Short
H2 4980
H1 4968
L1 4943
L2 4931
L3 4918 Long
L4 4881 Short Breakout
L5 4851 Trgt 1
L6 4820 Trgt 2
R3 5175
R2 5124
R1 5040
Avg 4989
S1 4905
S2 4854
S3 4770
Nifty(Dec Fut)-Trading Strategy
H6 5091 Trgt 2
H5 5060 Trgt 1
H4 5030 Long breakout
H3 4993 Go Short
H2 4980
H1 4968
L1 4943
L2 4931
L3 4918 Long
L4 4881 Short Breakout
L5 4851 Trgt 1
L6 4820 Trgt 2
Bank Nifty(Dec Fut)-Levels & Trading Strategy for 09-12-2011
Bank Nifty(Dec Fut)-Levels
R3 9415
R2 9299
R1 9114
Avg 8998
S1 8813
S2 8697
S3 8512
Bank Nifty(Dec Fut)-Trading Strategy
H6 9231 Trgt 2
H5 9163 Trgt 1
H4 9094 Long breakout
H3 9011 Go Short
H2 8984
H1 8956
L1 8901
L2 8873
L3 8846 Long
L4 8763 Short Breakout
L5 8694 Trgt 1
L6 8626 Trgt 2
R3 9415
R2 9299
R1 9114
Avg 8998
S1 8813
S2 8697
S3 8512
Bank Nifty(Dec Fut)-Trading Strategy
H6 9231 Trgt 2
H5 9163 Trgt 1
H4 9094 Long breakout
H3 9011 Go Short
H2 8984
H1 8956
L1 8901
L2 8873
L3 8846 Long
L4 8763 Short Breakout
L5 8694 Trgt 1
L6 8626 Trgt 2
Pre-Closing Outlook(08-12-2011)
Firstly sharp fall in first 2 hours and after that almost last 4 hours sideways trading between 4928-4980 with intraday selling patterns therefore more down moves possibilities turned higher after breaking down of that support range in which Nifty is trading(4920-4950)
Mid-session Outlook(08-12-2011)
Indian markets showed its nervousness today after Union Govt. rolling back decision of FDI in Retails and slipped more than 1% after opening today. Nifty slipped below 5000 as welll as support of 5003 also has been broken down therefore next support range(4920-4950) testing possibility is high and this range should be watched.
Market is not moving only on technicals but reacting above mentioned news also therefore sustaining beyond mentioned support range will be next moves confirmations.
Market is not moving only on technicals but reacting above mentioned news also therefore sustaining beyond mentioned support range will be next moves confirmations.
Nifty-Micro Analysis of Intra Day Chart For 08-12-2011
Nifty-Intra Day Chart(07-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5080-5098
2- Whole day trading between 5035-5098
Conclusions from intra day chart analysis
As soon as Profit booking signals emerged then it was updated in Mid-session Outlook at 11:30:00 AM yesterday and finally intraday selling confirmations between 5080-5098. Good consolidation was also seen between 5003-5033 on 05-12-2011 therefore Indian markets will remain sideways today and prepare for next moves between two previous sessions trading range(5003-5098)
Let market prepare for next moves then will be decided according to intraday charts formations and will be updated in Mid-session Outlooks during trading hours.
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| Just click on chart for its enlarged view |
1- Selling between 5080-5098
2- Whole day trading between 5035-5098
Conclusions from intra day chart analysis
As soon as Profit booking signals emerged then it was updated in Mid-session Outlook at 11:30:00 AM yesterday and finally intraday selling confirmations between 5080-5098. Good consolidation was also seen between 5003-5033 on 05-12-2011 therefore Indian markets will remain sideways today and prepare for next moves between two previous sessions trading range(5003-5098)
Let market prepare for next moves then will be decided according to intraday charts formations and will be updated in Mid-session Outlooks during trading hours.
Nifty Spot-Levels & Trading Strategy for 08-12-2011
Nifty Spot-Levels
R3 5163.67
R2 5131.33
R1 5096.67
PIVOT 5064.33
S1 5029.67
S2 4997.33
S3 4962.67
Nifty Spot-Trading Strategy
H6 5129 Trgt 2
H5 5114 Trgt 1
H4 5098 Long breakout
H3 5080 Go Short
H2 5074
H1 5068
L1 5055
L2 5049
L3 5043 Long
L4 5025 Short Breakout
L5 5009 Trgt 1
L6 4994 Trgt 2
R3 5163.67
R2 5131.33
R1 5096.67
PIVOT 5064.33
S1 5029.67
S2 4997.33
S3 4962.67
Nifty Spot-Trading Strategy
H6 5129 Trgt 2
H5 5114 Trgt 1
H4 5098 Long breakout
H3 5080 Go Short
H2 5074
H1 5068
L1 5055
L2 5049
L3 5043 Long
L4 5025 Short Breakout
L5 5009 Trgt 1
L6 4994 Trgt 2
Nifty(Dec Fut)-Levels & Trading Strategy for 08-12-2011
Nifty(Dec Fut)-Levels
R3 5207.33
R2 5170.67
R1 5128.33
PIVOT 5091.67
S1 5049.33
S2 5012.67
S3 4970.33
Nifty(Dec Fut)-Trading Strategy
H6 5165 Trgt 2
H5 5147 Trgt 1
H4 5129 Long breakout
H3 5107 Go Short
H2 5100
H1 5093
L1 5078
L2 5071
L3 5064 Long
L4 5042 Short Breakout
L5 5024 Trgt 1
L6 5006 Trgt 2
R3 5207.33
R2 5170.67
R1 5128.33
PIVOT 5091.67
S1 5049.33
S2 5012.67
S3 4970.33
Nifty(Dec Fut)-Trading Strategy
H6 5165 Trgt 2
H5 5147 Trgt 1
H4 5129 Long breakout
H3 5107 Go Short
H2 5100
H1 5093
L1 5078
L2 5071
L3 5064 Long
L4 5042 Short Breakout
L5 5024 Trgt 1
L6 5006 Trgt 2
Bank Nifty(Dec Fut)-Levels & Trading Strategy for 08-12-2011
Bank Nifty(Dec Fut)-Levels
R3 9433.67
R2 9370.33
R1 9284.67
PIVOT 9221.33
S1 9135.67
S2 9072.33
S3 8986.67
Bank Nifty(Dec Fut)-Trading Strategy
H6 9348 Trgt 2
H5 9314 Trgt 1
H4 9280 Long breakout
H3 9239 Go Short
H2 9226
H1 9212
L1 9185
L2 9171
L3 9158 Long
L4 9117 Short Breakout
L5 9083 Trgt 1
L6 9049 Trgt 2
R3 9433.67
R2 9370.33
R1 9284.67
PIVOT 9221.33
S1 9135.67
S2 9072.33
S3 8986.67
Bank Nifty(Dec Fut)-Trading Strategy
H6 9348 Trgt 2
H5 9314 Trgt 1
H4 9280 Long breakout
H3 9239 Go Short
H2 9226
H1 9212
L1 9185
L2 9171
L3 9158 Long
L4 9117 Short Breakout
L5 9083 Trgt 1
L6 9049 Trgt 2
Pre-Closing Outlook(07-12-2011)
As soon as profit booking signals at higher levels emerged then it was updated immediately and market slipped also from intraday higher levels. Good buying on 05-12-2011 and lower levels buying also seen today but selling signals also seen at higher levels today.
As intraday patterns are mixed therefore view is cautious and today trading range(5050-5100) break out as well as sustaining beyond will be next moves confirmations.
As intraday patterns are mixed therefore view is cautious and today trading range(5050-5100) break out as well as sustaining beyond will be next moves confirmations.
Mid-session Outlook(07-12-2011)
Profit booking signals also emerges at high level today therefore cautious approach is required.
Post-open Outlook(07-12-2011)
Following lines were told in Pre-open Outlook today:-
Expected that Indian markets will be finally positive and also close in Green above previous session trading range after follow up consolidation today.
Nifty is trading above previous session trading range for the last 1 hour and next three resistences are as follows:-
1- 5130-5225
2- 5260-5310
3- 5240-5265
No selling signals yet and expected that ongoing up move will remain continued after consolidations
Expected that Indian markets will be finally positive and also close in Green above previous session trading range after follow up consolidation today.
Nifty is trading above previous session trading range for the last 1 hour and next three resistences are as follows:-
1- 5130-5225
2- 5260-5310
3- 5240-5265
No selling signals yet and expected that ongoing up move will remain continued after consolidations
Technical Analysis & Market Outlook(07-12-2011)
Pre-open Outlook(07-12-2011)
Sideways Indian markets between 4720-5229 for the last 69 Sessions and at present short term trend is up. Nifty closed above 55-Day EMA(today at 5033) and near the higher levels of resistance range of 5000-5060. Sustaining above 5060 will be confirmation of good strength and Intermediate term trend turning up. Just click follwing link for detailed analysis with EOD chart:-
Rally is on after Trend Reversal Broadening Pattern Support
Nifty-Micro Analysis of Intra Day Chart For 07-12-2011
Nifty-Intra Day Chart(05-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5003-5033
2- Minor selling between 5038-5052
3- Whole day trading between 5003-5055
Conclusions from intra day chart analysis
Although minor selling at higher levels between 5038-5052 but intraday patterns are showing good consolidation formations at lower levels last Monday. Short term up trend is already on and continuation of rally is expected in the coming sessions after previous session good intraday consolidations.
Market Outlook(07-12-2011)
All the Asian markets are positive today morning after weaker closing yesterday therefore sentiment is maintained and good today morning. Expexcted that Indian markets will be finally positive and also close in Green above previous session trading range after follow up consolidation today.
Sideways Indian markets between 4720-5229 for the last 69 Sessions and at present short term trend is up. Nifty closed above 55-Day EMA(today at 5033) and near the higher levels of resistance range of 5000-5060. Sustaining above 5060 will be confirmation of good strength and Intermediate term trend turning up. Just click follwing link for detailed analysis with EOD chart:-
Rally is on after Trend Reversal Broadening Pattern Support
Nifty-Micro Analysis of Intra Day Chart For 07-12-2011
Nifty-Intra Day Chart(05-dec-2011):-
 |
| Just click on chart for its enlarged view |
1- Consolidation between 5003-5033
2- Minor selling between 5038-5052
3- Whole day trading between 5003-5055
Conclusions from intra day chart analysis
Although minor selling at higher levels between 5038-5052 but intraday patterns are showing good consolidation formations at lower levels last Monday. Short term up trend is already on and continuation of rally is expected in the coming sessions after previous session good intraday consolidations.
Market Outlook(07-12-2011)
All the Asian markets are positive today morning after weaker closing yesterday therefore sentiment is maintained and good today morning. Expexcted that Indian markets will be finally positive and also close in Green above previous session trading range after follow up consolidation today.
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