Correction is technically due

Nifty-Micro Analysis of Intra Day Chart For 17-02-2012

Nifty-Intra Day Chart(16-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 5484-5495
2- Selling between 5512-5521
3- Selling between 5512-5529
4- Bearish Rising Wedge formation in last hour.
5- Whole day trading between 5484-5531

Conclusions from intra day chart analysis 

All trends are up but overbought indicators are showing negative divergence also therefore correction is due in Indian markets. Market firstly require intraday selling patterns and then follow up selling as well as distribution patterns minimum on Daily charts then Short term correction will be seen. As intraday charts of today are showing selling patterns therefore only very short term minor correction will be considered if follow up selling develops tomorrow. Running Bullish markets complete correction in sideways moves and complete correction at higher levels also therefore today intraday selling and Bearish Rising Wedge pattern are not sufficient and follow up selling is must tomorrow for decisive down moves.

Global cues led moves seen in two previous sessions therefore today opening will depend on sentiment formation due to Global cues but finally sustaining beyond today trading range will give confirmation regarding:-

1- Sustaining above 5531 will mean On going rally continuation  
2- Sustaining below 5484 will mean firstly very short term correction and rally continuation after its completion. 

FII Trading Data in Derivatives Segment on 16-Feb-2012

FII & DII trading activity in Capital Market Segment on 16-Feb-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 16-Feb-2012 3251.56 3067.25 184.31

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 16-Feb-2012 1383.42 1773.74 -390.32

Indian Stock Markets Closing Reports(16-Feb-2012)

Main features of today trading are as follows

1- Harami Doji Candle formation.
2- Mid Cap and Small Cap Indices closed with moderate gains while Benchmark Indices closed in Red.
3- Whole day range bound market.

Ratios

Nifty Put Call Ratio: 1.38
Nifty P/E Ratio(16-Feb-2012):19.34

Advances & Declines

BSE Advances : 1636
BSE Declines : 1302
NSE Advances : 831
NSE Declines : 629

Nifty Open Interest Changed Today

Nifty- 5400 CE(Feb)- -242400(-6.64%)
Nifty- 5400 PE(Feb)- +910400(+14.09%)

Nifty- 5500 CE(Feb)- +493050(+10.28%)
Nifty- 5500 PE(Feb)- +546150(+10.34%)

Nifty- 5600 CE(Feb)- +750100(+13.18%)
Nifty- 5600 PE(Feb)- +910400(+14.09%)

Closing

Nifty- closed at 5,521.95(-10 Points & -0.18%)
Sensex- closed at 18,153.99(-48.42 Points & -0.27%)
CNX Midcap - closed at 7,875.40(+75.35 Points & +0.97%)
BSE Smallcap- closed at 7,131.65(+67 Points & +0.96%)

Nifty Spot-Levels & Trading Strategy for 17-02-2012

Nifty Spot-Levels

R3 5588
R2 5559
R1 5540
Avg 5511
S1 5492
S2 5463
S3 5444

Nifty Spot-Trading Strategy

H6 5569     Trgt 2
H5 5558     Trgt 1
H4 5547     Long breakout
H3 5534     Go Short
H2 5529
H1 5525
L1 5516
L2 5512
L3 5507     Long
L4 5494     Short Breakout
L5 5483     Trgt 1
L6 5472     Trgt 2

Nifty(Feb Fut)-Levels & Trading Strategy for 17-02-2012

Nifty(Feb Fut)-Levels

R3 5600
R2 5573
R1 5555
Avg 5528
S1 5510
S2 5483
S3 5465

Nifty(Feb Fut)-Trading Strategy

H6 5582     Trgt 2
H5 5572     Trgt 1
H4 5561     Long breakout
H3 5549     Go Short
H2 5545
H1 5541
L1 5532
L2 5528
L3 5524     Long
L4 5512     Short Breakout
L5 5501     Trgt 1
L6 5491     Trgt 2

Bank Nifty(Feb Fut)-Levels & Trading Strategy for 17-02-2012

Bank Nifty(Feb Fut)-Levels

R3 11178
R2 11073
R1 11010
Avg 10905
S1 10842
S2 10737
S3 10674

Bank Nifty(Feb Fut)-Trading Strategy

H6 11118     Trgt 2
H5 11079     Trgt 1
H4 11040     Long breakout
H3 10994     Go Short
H2 10978
H1 10963
L1 10932
L2 10917
L3 10901     Long
L4 10855     Short Breakout
L5 10816     Trgt 1
L6 10777     Trgt 2

Pre-Closing Outlook(16-02-2012)

All the ASian markets closed in Red and some more than 1% down also. Huge gap down opening as well as more than .65% down trading in all the European markets today but Indian markets absorbed all global shocks within 5483-5531 with lower levels buying therefore no damage for Indian Bulls despite Global Bearish sentiments.

As minor distribution patterns at higher levels today therefore sustaining beyond today range will be firstly watched tomorrow for next moves confirmations.

Mid-session Outlook(16-02-2012)

Weaker global cues led negative zone trading with higher levels intraday selling and Nifty slipped below 5495 also. Today down moves are correction of yesterday sharp surge.

Nifty is trading between 5484-5495 for the last 75 minutes with lower levels and today intraday correction completion/continuation will be accoring to its break out therefore should be firstly watched today.

Finally sustaining of Nifty below 5495 will mean testing possibility of next support will be:-

Yesterday gap of 5428-5461

Pre-open Outlook(16-02-2012)

Although Dow's Futures was whole day more than 60 points up but finally closed  93 points down yesterday and its Futures is also more than 45 points down today morning. Sentiment is weak today morning therefore all the Asian markets are trading flat to Red.

Expected that Nifty will firstly trade and prepare for next moves between 5495-5540 after Weak opening and sustaining beyond this range will be next immediate very short term move confirmation therefore should be firstly watched in 1st session today.

Bulls are roaring like Lions

Nifty-Intra Day Chart(15-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Gap up opening.
2- Whole day up moves in rising channel with minor intraday corrections.
3- Intraday correction and continuation of rally
4- Whole day trading between 5472-5540

Conclusions from intra day chart analysis 

Indian markets are Bullish and whole sentiment reversed in less than 2 months with all trends turning up. Bullish markets following correction character has been updated many times:-

1- Correction at higher levels.
2- Correction within sideways moves.
3- Correction only after complete distribution patterns.

7 sessions sideways correction completion after gap up opening on 15-02-2012 and continuation of rally also. Until complete distribution patterns minimum on EOD Charts with intraday selling patterns will not be seen till then any correction will not be seen.

Rally is continued and expected that next resistances between 5600-5700 will be tested in the coming sessions.

FII Trading Data in Derivatives Segment on 15-Feb-2012

Indian Stock Markets Closing Reports(15-Feb-2012)

Main features of today trading are as follows

1- Sharp surge after Break out.
2- Long White Candle.
3- All the Indices closed in Green.

Ratios

Nifty Put Call Ratio:1.22
Nifty P/E Ratio(15-Feb-2012):19.35

Advances & Declines

BSE Advances : 1900
BSE Declines : 1081
NSE Advances : 1046
NSE Declines : 408

Nifty Open Interest Changed Today

Nifty- 5400 CE(Feb)- -1370000(-26.59%)
Nifty- 5400 PE(Feb)- +779150(+13.16%)

Nifty- 5500 CE(Feb)- -1994700(-28.46%)
Nifty- 5500 PE(Feb)- +3303450(+166.24%)

Nifty- 5600 CE(Feb)- +1156900(+25.13%)
Nifty- 5600 PE(Feb)- +1488350(+391.72%)

Closing 

Nifty- closed at 5,531.95(+115.90 Points & +2.14%)
Sensex- closed at 18,202.41(+353.84 Points & +1.98% )
CNX Midcap - closed at 7,800.05(+178.80 Points & +2.35%)
BSE Smallcap- closed at 7,053.01(+92.35 Points & +1%)

FII & DII trading activity in Capital Market Segment on 15-Feb-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 15-Feb-2012 4660.46 2821.61 1838.85

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 15-Feb-2012 2183.94 2497.41 -313.47

Nifty Spot-Levels & Trading Strategy for 16-02-2012

Nifty Spot-Levels

R3 5644
R2 5593
R1 5562
Avg 5511
S1 5480
S2 5429
S3 5398


Nifty Spot-Trading Strategy

H6 5614     Trgt 2
H5 5595     Trgt 1
H4 5576     Long breakout
H3 5553     Go Short
H2 5546
H1 5538
L1 5523
L2 5515
L3 5508     Long
L4 5485     Short Breakout
L5 5466     Trgt 1
L6 5447     Trgt 2

Nifty(Feb Fut)-Levels & Trading Strategy for 16-02-2012

Nifty(Feb Fut)-Levels

R3 5674
R2 5619
R1 5585
Avg 5530
S1 5496
S2 5441
S3 5407

Nifty(Feb Fut)-Trading Strategy

H6 5642     Trgt 2
H5 5621     Trgt 1
H4 5600     Long breakout
H3 5576     Go Short
H2 5568
H1 5560
L1 5543
L2 5535
L3 5527     Long
L4 5503     Short Breakout
L5 5482     Trgt 1
L6 5461     Trgt 2

Bank Nifty(Feb Fut)-Levels & Trading Strategy for 16-02-2012

Bank Nifty(Feb Fut)-Levels

R3 11441
R2 11219
R1 11095
Avg 10873
S1 10749
S2 10527
S3 10403

Bank Nifty(Feb Fut)-Trading Strategy

H6 11327     Trgt 2
H5 11244     Trgt 1
H4 11161     Long breakout
H3 11066     Go Short
H2 11034
H1 11002
L1 10939
L2 10907
L3 10875     Long
L4 10780     Short Breakout
L5 10697     Trgt 1
L6 10614     Trgt 2

Pre-Closing Outlook(15-02-2012)

Next Bullish phase resumed today after correction completion within 7 days sideways moves. It was told many times that in Bull markets consolidation happend within narrow range market and it was seen also. Today break out with huge volumes therefore more confirmation of today Bullish  Break out.

Rally is very much on and testing of next resistances within 5600-5700 will be seen in the coming sessions.

Post-open Outlook(15-02-2012)

Dow's Futures was in Red today morning but surged to +61 and sparked all the Asian markets as well as paved the way of gap up opening and sustaining above 5428 also.

7 days Range break out confirmation today morning immediately after opening and correction completion confirmation also within sideways market. Rally is very much on to test resistances between 5600-5700.

5418/5428 will decide the fate of 2nd inning today

All trends are up and Indian markets are range bound as well as preparing for next more than 5% decisive moves within 5323-5428 for the last 7 sessions with lower levels buying and higher levels distribution patterns.

Indian markkets traded between 5394-5418 with intraday distribution patterns yesterday but most Asian markets are positive and sentiment is good today morning therefore Nifty will firstly trade at/above the higher levels of last 7 sessions trading range. 

All trends are up and markets consolidated at higher levels also in Bullish markets therefore sustaining above 5418/5428 will be firstly watched today for upward break out confirmation of last 7 days range. Finally sustaining above 5418/5428 today will mean sharp surge and testing of 2011 higher levels resistances.

5418/5428 will decide the fate 2nd inning therefore sustaining beyond should be firstly watched today.

Nifty-Micro Analysis of Intra Day Chart For 15-02-2012

Nifty-Intra Day Chart(14-Feb-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Distribution Patterns between 5394-5418
2- Whole day trading between 5381-5428

Conclusions from intra day chart analysis 

Although LTP was at the top of the day today after almost whole time positive zone trading but most of the time Distribution Patterns seen between 5394-5418 therefore correction continuation possibility between 5323-5427 is still alive.

Sustaing beyond 5394-5418 will be firstly watched tomorrow and until Nifty will not sustain above 5418 till then further upmove will not be considered and slipping below 5393 will be strong signal of correction continuation and sharp declines possibility as well.