Correction is on and Nifty traded most of the time between 5245-5363 as well as hovered it around and finally going to closed below it today. Technical positions,importance of mentioned range and implications of its sustaining beyond has already been updated in previous outlook and that will be seen in the coming sessions.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook-2 (09-04-2012)
Firstly almost 4 hours trading between 5245-5363 and after that breaking down as well as breaking out of this range. Market is positions just above next and strong support range(5175-5236) within 5245-5363 and finally sustaining beyond this range will give next decisive moves following strong indication:-
1- Sustaining above 5363 will be first and strong indication of on going correction completion.
2- Sustaining below 5245 will mean testing possibility of last support range of previous rally(5136-5160)
1- Sustaining above 5363 will be first and strong indication of on going correction completion.
2- Sustaining below 5245 will mean testing possibility of last support range of previous rally(5136-5160)
Mid-session Outlook(09-04-2012)
Although market closed positive on 03-04-2012 but we told weakness in Firstly Very Short Term Down Moves as well as told following lines on 03-04-2012 at 06:59:00 PM
1- As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels
2- Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.
Correction is on Nifty is trading between 5245-5363 for the last 3 hours after weak opening,strong supports below this range between 5175-5236. As patterns within this range have not given any decisive signals yet therefore firstly break out of this range will be watched for next moves first indication.
1- As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels
2- Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.
Correction is on Nifty is trading between 5245-5363 for the last 3 hours after weak opening,strong supports below this range between 5175-5236. As patterns within this range have not given any decisive signals yet therefore firstly break out of this range will be watched for next moves first indication.
Pre-open Outlook(09-04-2012)
US and European futures are more than 1% down and most Asian markets are trading near about 1% negative today morning. Sentiment is dampened therefore weak opening will be seen in Indian markets. Next supports are as follows:-
1- 5175-5236(strong supports)
2- 5136-5160
Next Resistances are as follows:-
1- 5326-5337
2- 5360-5377(strong resistance)
Nifty will firstly trade between 5236-5326 today and prepare for next immediate moves. Finally sustaining beyond 5136-5377 will be next decisive trend confirmations and expected that Nifty will remain sideways within mentioned range(5136-5377) in the coming sessions.
1- 5175-5236(strong supports)
2- 5136-5160
Next Resistances are as follows:-
1- 5326-5337
2- 5360-5377(strong resistance)
Nifty will firstly trade between 5236-5326 today and prepare for next immediate moves. Finally sustaining beyond 5136-5377 will be next decisive trend confirmations and expected that Nifty will remain sideways within mentioned range(5136-5377) in the coming sessions.
Bullish 'Flag Pattern' Formation in EOD Chart
Technical Analysis,Research & Weekly Outlook
(Apr 9 to Apr13,2012)
Nifty-EOD Chart(04-Apr-2012):- |
| Just click on chart for its enlarged view |
1- 4531.15 on 20-12-2011(Rally bottom)
2- Wave-1 top at 5629.95 on 22-02-2012(Rally top)
3- Corrective Wave-2 bottom at 5135.95 on 29-03-2012(Correction bottom got support just below 200 Day SMA)
4- Wave-3 beginning from 30-03-2012 but its confirmation is required
5- Bullish 'Flag Pattern' Formation after 22-02-2012 correction
Conclusions from EOD chart analysis
Wave-2 correction is on from 22-02-2012 in falling Channel(Bullish 'Flag Pattern') Formation which got support at 5135.95 on 29-03-2012. Wave-3 is on but but its confirmation is required through sustaining above 5400 but Nifty faced resistance(5377) at the Upper Falling Trend line of Falling Channel on 03-04-2012 and down moves seen on 04-04-2012 after gap down opening.
Long and short term trends are up and Intermediate term trend is sideways for the last 27 sessions within Flag Pattern and will be up above 5400.Bullish 'Flag Pattern' Formation in EOD Chart therefore finally Dec 2011 like strong rally will be seen after Nifty sustaining above Upper Falling Trend line of Falling Channel as well as sustaining above 5400.
Higher levels good selling and lower levels supports within Falling Channel(Flag) therefore expected that Nifty will trade firstly trade between 5136-5377. Although finally rally above 5377 is expected but sustaining beyond mentioned range(5136-5377) will also be firstly watched for next immediate moves confirmations in the coming week.
Nifty Spot-Levels & Trading Strategy for 09-04-2012
Nifty Spot-Levels
R3 5371
R2 5354
R1 5338
Avg 5321
S1 5305
S2 5288
S3 5272
Nifty Spot-Trading Strategy
H6 5355 Trgt 2
H5 5347 Trgt 1
H4 5340 Long breakout
H3 5331 Go Short
H2 5328
H1 5325
L1 5318
L2 5315
L3 5312 Long
L4 5303 Short Breakout
L5 5296 Trgt 1
L6 5288 Trgt 2
R3 5371
R2 5354
R1 5338
Avg 5321
S1 5305
S2 5288
S3 5272
Nifty Spot-Trading Strategy
H6 5355 Trgt 2
H5 5347 Trgt 1
H4 5340 Long breakout
H3 5331 Go Short
H2 5328
H1 5325
L1 5318
L2 5315
L3 5312 Long
L4 5303 Short Breakout
L5 5296 Trgt 1
L6 5288 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 09-04-2012
Nifty(Apr Fut)-Levels
R3 5399
R2 5380
R1 5362
Avg 5343
S1 5325
S2 5306
S3 5288
Nifty(Apr Fut)-Trading Strategy
H6 5381 Trgt 2
H5 5372 Trgt 1
H4 5364 Long breakout
H3 5354 Go Short
H2 5350
H1 5347
L1 5340
L2 5337
L3 5333 Long
L4 5323 Short Breakout
L5 5315 Trgt 1
L6 5306 Trgt 2
R3 5399
R2 5380
R1 5362
Avg 5343
S1 5325
S2 5306
S3 5288
Nifty(Apr Fut)-Trading Strategy
H6 5381 Trgt 2
H5 5372 Trgt 1
H4 5364 Long breakout
H3 5354 Go Short
H2 5350
H1 5347
L1 5340
L2 5337
L3 5333 Long
L4 5323 Short Breakout
L5 5315 Trgt 1
L6 5306 Trgt 2
Bank Nifty(Apr Fut)-Levels & Trading Strategy for 09-04-2012
Bank Nifty(Apr Fut)-Levels
R3 10534
R2 10467
R1 10415
Avg 10348
S1 10296
S2 10229
S3 10177
Bank Nifty(Apr Fut)-Trading Strategy
H6 10483 Trgt 2
H5 10456 Trgt 1
H4 10429 Long breakout
H3 10396 Go Short
H2 10385
H1 10374
L1 10353
L2 10342
L3 10331 Long
L4 10298 Short Breakout
L5 10271 Trgt 1
L6 10244 Trgt 2
R3 10534
R2 10467
R1 10415
Avg 10348
S1 10296
S2 10229
S3 10177
Bank Nifty(Apr Fut)-Trading Strategy
H6 10483 Trgt 2
H5 10456 Trgt 1
H4 10429 Long breakout
H3 10396 Go Short
H2 10385
H1 10374
L1 10353
L2 10342
L3 10331 Long
L4 10298 Short Breakout
L5 10271 Trgt 1
L6 10244 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Apr 09 to Apr 13,2012)
Nifty Spot-Weekly Levels
R3 5474
R2 5426
R1 5374
Avg 5326
S1 5274
S2 5226
S3 5174
Nifty Spot-Weekly Trading Strategy
H6 5422 Trgt 2
H5 5399 Trgt 1
H4 5377 Long breakout
H3 5349 Go Short
H2 5340
H1 5312
L1 5303
L2 5331
L3 5294 Long
L4 5267 Short Breakout
L5 5244 Trgt 1
L6 5221 Trgt 2
R3 5474
R2 5426
R1 5374
Avg 5326
S1 5274
S2 5226
S3 5174
Nifty Spot-Weekly Trading Strategy
H6 5422 Trgt 2
H5 5399 Trgt 1
H4 5377 Long breakout
H3 5349 Go Short
H2 5340
H1 5312
L1 5303
L2 5331
L3 5294 Long
L4 5267 Short Breakout
L5 5244 Trgt 1
L6 5221 Trgt 2
Bank Nifty Spot-Weekly Levels & Trading Strategy(Apr 09 to Apr 13,2012)
Bank Nifty Spot-Weekly Levels
R3 10823
R2 10663
R1 10501
Avg 10341
S1 10179
S2 10019
S3 9857
Bank Nifty Spot-Weekly Trading Strategy
H6 10667 Trgt 2
H5 10592 Trgt 1
H4 10517 Long breakout
H3 10428 Go Short
H2 10399
H1 10369
L1 10310
L2 10280
L3 10251 Long
L4 10162 Short Breakout
L5 10087 Trgt 1
L6 10012 Trgt 2
R3 10823
R2 10663
R1 10501
Avg 10341
S1 10179
S2 10019
S3 9857
Bank Nifty Spot-Weekly Trading Strategy
H6 10667 Trgt 2
H5 10592 Trgt 1
H4 10517 Long breakout
H3 10428 Go Short
H2 10399
H1 10369
L1 10310
L2 10280
L3 10251 Long
L4 10162 Short Breakout
L5 10087 Trgt 1
L6 10012 Trgt 2
Pre-Closing Outlook(04-04-2012)
Whatsoever possibilities were told yesterday all that seen in today market.
.
Higher levels intraday selling patterns but intraday support also seen after gap down opening today therefore sustaining beyond today trading range will be firstly watched for next moves confirmations in the coming sessions.
.
Higher levels intraday selling patterns but intraday support also seen after gap down opening today therefore sustaining beyond today trading range will be firstly watched for next moves confirmations in the coming sessions.
Post-open Outlook(04-04-2012)
Following topic was posted yesterday at 06:59:00 PM:-
Firstly Very Short Term Down Moves
Following lines were told yesterday which proved 100% accurate in 1st minute today because today lowest at this moment is at 5318.60
As Whole day without force up moves and selling possibilities like intraday patterns between 5285-5331 were seen yesterday also therefore testing or slipping below this range can not be ruled out in the coming sessions.
Reasons of today down moves and next possibilities have already been updated in above topic yesterday therefore just click above topic link and go through.
Firstly Very Short Term Down Moves
Following lines were told yesterday which proved 100% accurate in 1st minute today because today lowest at this moment is at 5318.60
As Whole day without force up moves and selling possibilities like intraday patterns between 5285-5331 were seen yesterday also therefore testing or slipping below this range can not be ruled out in the coming sessions.
Reasons of today down moves and next possibilities have already been updated in above topic yesterday therefore just click above topic link and go through.
FII & DII trading activity in Capital Market Segment on 03-Apr-2012
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Firstly Very Short Term Down Moves
Nifty-Intra Day Chart(03-Apr-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5363-5377
2- Selling between 5357-5363
3- Support between 5347-5353
4- Minor support between 5347-5353
3- Whole day trading between 5347-5377
Good selling at higher levels and minor supports also at lower levels today. As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels. As Whole day without force up moves and selling possibilities like intraday patterns between 5285-5331 were seen yesterday also therefore testing or slipping below this range can not be ruled out in the coming sessions.
Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.
 |
| Just click on chart for its enlarged view |
1- Selling between 5363-5377
2- Selling between 5357-5363
3- Support between 5347-5353
4- Minor support between 5347-5353
3- Whole day trading between 5347-5377
Conclusions from intra day chart analysis
Good selling at higher levels and minor supports also at lower levels today. As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels. As Whole day without force up moves and selling possibilities like intraday patterns between 5285-5331 were seen yesterday also therefore testing or slipping below this range can not be ruled out in the coming sessions.
Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.
Indian Stock Markets Closing Reports(03-Apr-2012)
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1- All the Indices closed in Green except IT,Auto and HC.
2- Range bound sideways trading in most of the Indices.
3- Higher levels intraday selling patterns seen today.
4- Bearish Doji Star Candle formation..
Ratios
Nifty Put Call Ratio: 1.20
Nifty P/E Ratio(03-Apr-2012): 18.93
Advances & Declines
BSE Advances : 1763
BSE Declines : 1074
NSE Advances : 1003
NSE Declines : 455
Nifty Open Interest Changed Today
Nifty- 5100 CE(Apr)- -62750(-6.72%)
Nifty- 5100 PE(Apr)- +354350(+8.20%)
Nifty- 5200 CE(Apr)- -227900(-12.67%)
Nifty- 5200 PE(Apr)- +224450(+4.66%)
Nifty- 5300 CE(Apr)- +122550(+5.48%)
Nifty- 5300 PE(Apr)- +557650(+16.65%)
Nifty- 5400 CE(Apr)- -54800(-1.43%)
Nifty- 5400 PE(Apr)- +534950(+37.30%)
Nifty- 5500 CE(Apr)- +435000(+13.92%)
Nifty- 5500 PE(Apr)- +131500(+16.59%)
Nifty- 5600 CE(Apr)- +220800(+5.48%)
Nifty- 5600 PE(Apr)- +106150(+18.98%)
Closing
Nifty- closed at 5,358.50(+40.60 Points & +0.76%)
Sensex- closed at 17,597.42(+119.27 Points & +0.68% )
CNX Midcap - closed at 7,823.50(+56.35 Points & +0.73%)
BSE Smallcap- closed at 6,817.69(+76.66 Points & +1.14%)
Nifty Spot-Levels & Trading Strategy for 04-04-2012
Nifty Spot-Levels
R3 5410
R2 5394
R1 5376
Avg 5360
S1 5342
S2 5326
S3 5308
Nifty Spot-Trading Strategy
H6 5392 Trgt 2
H5 5384 Trgt 1
H4 5376 Long breakout
H3 5367 Go Short
H2 5364
H1 5361
L1 5354
L2 5351
L3 5348 Long
L4 5339 Short Breakout
L5 5331 Trgt 1
L6 5323 Trgt 2
R3 5410
R2 5394
R1 5376
Avg 5360
S1 5342
S2 5326
S3 5308
Nifty Spot-Trading Strategy
H6 5392 Trgt 2
H5 5384 Trgt 1
H4 5376 Long breakout
H3 5367 Go Short
H2 5364
H1 5361
L1 5354
L2 5351
L3 5348 Long
L4 5339 Short Breakout
L5 5331 Trgt 1
L6 5323 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 04-04-2012
Nifty(Apr Fut)-Levels
R3 5436
R2 5419
R1 5401
Avg 5384
S1 5366
S2 5349
S3 5331
Nifty(Apr Fut)-Trading Strategy
H6 5418 Trgt 2
H5 5410 Trgt 1
H4 5402 Long breakout
H3 5392 Go Short
H2 5389
H1 5386
L1 5379
L2 5376
L3 5373 Long
L4 5363 Short Breakout
L5 5355 Trgt 1
L6 5347 Trgt 2
R3 5436
R2 5419
R1 5401
Avg 5384
S1 5366
S2 5349
S3 5331
Nifty(Apr Fut)-Trading Strategy
H6 5418 Trgt 2
H5 5410 Trgt 1
H4 5402 Long breakout
H3 5392 Go Short
H2 5389
H1 5386
L1 5379
L2 5376
L3 5373 Long
L4 5363 Short Breakout
L5 5355 Trgt 1
L6 5347 Trgt 2
Bank Nifty(Apr Fut)-Levels & Trading Strategy for 04-04-2012
Bank Nifty(Apr Fut)-Levels
R3 10622
R2 10570
R1 10507
Avg 10455
S1 10392
S2 10340
S3 10277
Bank Nifty(Apr Fut)-Trading Strategy
H6 10559 Trgt 2
H5 10533 Trgt 1
H4 10507 Long breakout
H3 10475 Go Short
H2 10465
H1 10454
L1 10433
L2 10422
L3 10412 Long
L4 10380 Short Breakout
L5 10354 Trgt 1
L6 10328 Trgt 2
R3 10622
R2 10570
R1 10507
Avg 10455
S1 10392
S2 10340
S3 10277
Bank Nifty(Apr Fut)-Trading Strategy
H6 10559 Trgt 2
H5 10533 Trgt 1
H4 10507 Long breakout
H3 10475 Go Short
H2 10465
H1 10454
L1 10433
L2 10422
L3 10412 Long
L4 10380 Short Breakout
L5 10354 Trgt 1
L6 10328 Trgt 2
Pre-Closing Outlook(03-04-2012)
Following range was given and line was told within 1st hour in Post-open Outlook
"Firstly watch sustaining beyond 5350-5380 today for next big moves confirmations"
Nifty traded whole day between 5344.45-5378.75 with lower levels buying and higher levels selling today.
As mixed intraday patterns today therefore repeating following line of today Post-open Outlook:-
"Firstly watch sustaining beyond 5345-5380 today for next big moves confirmations"
"Firstly watch sustaining beyond 5350-5380 today for next big moves confirmations"
Nifty traded whole day between 5344.45-5378.75 with lower levels buying and higher levels selling today.
As mixed intraday patterns today therefore repeating following line of today Post-open Outlook:-
"Firstly watch sustaining beyond 5345-5380 today for next big moves confirmations"
Post-open Outlook(03-04-2012)
US markets positive closing after strong recovery in European markets yesterday therefore sentiment is positive today morning and Asian markets are mixed but Indian markets good gap up opening and now trading between next resistance range(5350-5380). Intermediate term trend is sideways for the last 26 sessions and will be up after sustaining above 5380 and crossing of 5400.
Indian markets are out performing Asian markets today but fresh consolidation is required for sustaining above next resistance range 5350-5380 and strong rally will be seen after sustaining above 5380 because in that situation all the trends will be up.
Firstly watch sustaining beyond 5350-5380 today for next big moves confirmations.
Indian markets are out performing Asian markets today but fresh consolidation is required for sustaining above next resistance range 5350-5380 and strong rally will be seen after sustaining above 5380 because in that situation all the trends will be up.
Firstly watch sustaining beyond 5350-5380 today for next big moves confirmations.
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