Gap up opening today after heated sentiment due to blasting global cues. Range bound trading between 5321-5342 with minor intraday selling at higher levels. Nifty is trading above the top of 1st resistance(5305) and sustaining above it will be strong rally confirmations therefore should be firstly watched today. As lower levels minor support also seen in last half hour therefore above mentioned today trading range break out will be rally after correction completion confirmations .
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Rally after sustaining above 5305
Nifty-Intra Day Chart (17-Apr-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation and support between 5210-5255
2- Volatility after Credit Policy
3- Whole day trading between 5210-5296
Consolidation and support between 5210-5255 within that huge volatility today which was the result of two adverse news. Good news of .50% Repo rate cut and negative news of Congress defeat in Delhi MCD Elections generated huge volatility today.
Strong support range of 5175-5236 had been updated more than 20 times in last one month,Nifty tested and traded within this range in last 6 days but did not slipped below 5175 and sharply surged today. As again support confirmation between 5175-5236 in last 6 sessions therefore this support range has strengthened and now high possibility of rally.
Range bound bound market between 5175-5305 was projected yesterday in following topic:-
Market capped between 5175-5305
Nifty traded whole day between 5208.35-5298.20 today. As lower levels support within 5175-5236 and higher levels resistance between 5275-5305 therefore above topic was posted. Nifty tested higher levels Resistance after getting lower levels support. Following 5 resistances were updated on 14-04-2012 in Crucial Supports and Resistances of 36 sessions Correction:-
5- 5588-5625
4- 5418-5487
3- 5357-5377
2- 5318-5337
1- 5275-5305
As good support and strong moves today therefore rally is expected after correction completion but technically rally beginning confirmations are must through sustaining above minimum above 1st Resistance and that is at 5305.
Above upmoves are not being projected after watching more than 1.30% positive moves in US markets but almost following same views were updated at 01:25:00 PM today in Mid-session Outlook-2(17-04-2012):-
"Firstly lower levels support before Credit Policy today and after that again higher bottom formation and support therefore first signal of upmoves but sustaining above 5265 should also be watched for strong indication"
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| Just click on chart for its enlarged view |
1- Consolidation and support between 5210-5255
2- Volatility after Credit Policy
3- Whole day trading between 5210-5296
Conclusions from intra day chart analysis
Consolidation and support between 5210-5255 within that huge volatility today which was the result of two adverse news. Good news of .50% Repo rate cut and negative news of Congress defeat in Delhi MCD Elections generated huge volatility today.
Strong support range of 5175-5236 had been updated more than 20 times in last one month,Nifty tested and traded within this range in last 6 days but did not slipped below 5175 and sharply surged today. As again support confirmation between 5175-5236 in last 6 sessions therefore this support range has strengthened and now high possibility of rally.
Range bound bound market between 5175-5305 was projected yesterday in following topic:-
Market capped between 5175-5305
Nifty traded whole day between 5208.35-5298.20 today. As lower levels support within 5175-5236 and higher levels resistance between 5275-5305 therefore above topic was posted. Nifty tested higher levels Resistance after getting lower levels support. Following 5 resistances were updated on 14-04-2012 in Crucial Supports and Resistances of 36 sessions Correction:-
5- 5588-5625
4- 5418-5487
3- 5357-5377
2- 5318-5337
1- 5275-5305
As good support and strong moves today therefore rally is expected after correction completion but technically rally beginning confirmations are must through sustaining above minimum above 1st Resistance and that is at 5305.
Above upmoves are not being projected after watching more than 1.30% positive moves in US markets but almost following same views were updated at 01:25:00 PM today in Mid-session Outlook-2(17-04-2012):-
"Firstly lower levels support before Credit Policy today and after that again higher bottom formation and support therefore first signal of upmoves but sustaining above 5265 should also be watched for strong indication"
FII & DII trading activity in Capital Market Segment on 17-Apr-2012
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Indian Stock Markets Closing Reports(17-Apr-2012)
Main features of today trading are as follows
1- Green closing.
2- White Candle.
3- Closing near Day's highs after highly volatile market.
Ratios
Nifty Put Call Ratio:1.03
Nifty P/E Ratio(17-Apr-2012):18.63
Advances & Declines
BSE Advances : 1662
BSE Declines : 1178
NSE Advances : 860
NSE Declines : 565
Nifty Open Interest Changed Today
Nifty- 5200 CE(Apr)- +5000(+0.15%)
Nifty- 5200 PE(Apr)- +888650(+14.01%)
Nifty- 5300 CE(Apr)- +16750(+0.34%)
Nifty- 5300 PE(Apr)- +993250(+29.33%)
Nifty- 5400 CE(Apr)- +343450(+4.60%)
Nifty- 5400 PE(Apr)- +376900(+22.75%)
Closing
Nifty- closed at 5,289.70(+63.50 Points & +1.22%)
Sensex- closed at 17,357.94(+206.99 Points & +1.21% )
CNX Midcap - closed at 7,672.00(+67.60 Points & +0.89%)
BSE Smallcap- closed at 6,880.36(+43.10 Points & +0.63%)
1- Green closing.
2- White Candle.
3- Closing near Day's highs after highly volatile market.
Ratios
Nifty Put Call Ratio:1.03
Nifty P/E Ratio(17-Apr-2012):18.63
Advances & Declines
BSE Advances : 1662
BSE Declines : 1178
NSE Advances : 860
NSE Declines : 565
Nifty Open Interest Changed Today
Nifty- 5200 CE(Apr)- +5000(+0.15%)
Nifty- 5200 PE(Apr)- +888650(+14.01%)
Nifty- 5300 CE(Apr)- +16750(+0.34%)
Nifty- 5300 PE(Apr)- +993250(+29.33%)
Nifty- 5400 CE(Apr)- +343450(+4.60%)
Nifty- 5400 PE(Apr)- +376900(+22.75%)
Closing
Nifty- closed at 5,289.70(+63.50 Points & +1.22%)
Sensex- closed at 17,357.94(+206.99 Points & +1.21% )
CNX Midcap - closed at 7,672.00(+67.60 Points & +0.89%)
BSE Smallcap- closed at 6,880.36(+43.10 Points & +0.63%)
Nifty Spot-Levels & Trading Strategy for 18-04-2012
Nifty Spot-Levels
R3 5412
R2 5355
R1 5322
Avg 5265
S1 5232
S2 5175
S3 5142
Nifty Spot-Trading Strategy
H6 5380 Trgt 2
H5 5359 Trgt 1
H4 5338 Long breakout
H3 5313 Go Short
H2 5305
H1 5297
L1 5280
L2 5272
L3 5264 Long
L4 5239 Short Breakout
L5 5218 Trgt 1
L6 5197 Trgt 2
R3 5412
R2 5355
R1 5322
Avg 5265
S1 5232
S2 5175
S3 5142
Nifty Spot-Trading Strategy
H6 5380 Trgt 2
H5 5359 Trgt 1
H4 5338 Long breakout
H3 5313 Go Short
H2 5305
H1 5297
L1 5280
L2 5272
L3 5264 Long
L4 5239 Short Breakout
L5 5218 Trgt 1
L6 5197 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 18-04-2012
Nifty(Apr Fut)-Levels
R3 5459
R2 5392
R1 5355
Avg 5288
S1 5251
S2 5184
S3 5147
Nifty(Apr Fut)-Trading Strategy
H6 5424 Trgt 2
H5 5400 Trgt 1
H4 5376 Long breakout
H3 5347 Go Short
H2 5338
H1 5328
L1 5309
L2 5299
L3 5290 Long
L4 5261 Short Breakout
L5 5237 Trgt 1
L6 5213 Trgt 2
R3 5459
R2 5392
R1 5355
Avg 5288
S1 5251
S2 5184
S3 5147
Nifty(Apr Fut)-Trading Strategy
H6 5424 Trgt 2
H5 5400 Trgt 1
H4 5376 Long breakout
H3 5347 Go Short
H2 5338
H1 5328
L1 5309
L2 5299
L3 5290 Long
L4 5261 Short Breakout
L5 5237 Trgt 1
L6 5213 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 18-04-2012
Nifty(Apr Fut)-Levels
R3 5459
R2 5392
R1 5355
Avg 5288
S1 5251
S2 5184
S3 5147
Nifty(Apr Fut)-Trading Strategy
H6 5424 Trgt 2
H5 5400 Trgt 1
H4 5376 Long breakout
H3 5347 Go Short
H2 5338
H1 5328
L1 5309
L2 5299
L3 5290 Long
L4 5261 Short Breakout
L5 5237 Trgt 1
L6 5213 Trgt 2
R3 5459
R2 5392
R1 5355
Avg 5288
S1 5251
S2 5184
S3 5147
Nifty(Apr Fut)-Trading Strategy
H6 5424 Trgt 2
H5 5400 Trgt 1
H4 5376 Long breakout
H3 5347 Go Short
H2 5338
H1 5328
L1 5309
L2 5299
L3 5290 Long
L4 5261 Short Breakout
L5 5237 Trgt 1
L6 5213 Trgt 2
Bank Nifty(Apr Fut)-Levels & Trading Strategy for 18-04-2012
Bank Nifty(Apr Fut)-Levels
R3 11137
R2 10897
R1 10735
Avg 10495
S1 10333
S2 10093
S3 9931
Bank Nifty(Apr Fut)-Trading Strategy
H6 10987 Trgt 2
H5 10890 Trgt 1
H4 10794 Long breakout
H3 10683 Go Short
H2 10646
H1 10609
L1 10536
L2 10499
L3 10462 Long
L4 10351 Short Breakout
L5 10255 Trgt 1
L6 10158 Trgt 2
R3 11137
R2 10897
R1 10735
Avg 10495
S1 10333
S2 10093
S3 9931
Bank Nifty(Apr Fut)-Trading Strategy
H6 10987 Trgt 2
H5 10890 Trgt 1
H4 10794 Long breakout
H3 10683 Go Short
H2 10646
H1 10609
L1 10536
L2 10499
L3 10462 Long
L4 10351 Short Breakout
L5 10255 Trgt 1
L6 10158 Trgt 2
Pre-Closing Outlook(17-04-2012)
Firstly high volatility after 50 basis points Repo Rates cut by RBI and lower levels supports as well as higher bottom formation also with closing near day's higher levels today are strong indications of rally after correction completion.
Following lines were told yesterday in Market capped between 5175-5305:-
1- Free Trading zone between 5231-5275 and expected that Nifty will firstly trade and prepare for next moves within this range,break out of this range will be first indication
2- sustaining beyond 5175-5305 will be next decisive trend confirmation.
3- strong multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered
4-Nifty will trade next 2/3 sessions between 5175-5305 and prepare.
All above 4 projections of yesterday proved accurate today. Good support and strong moves today but rally beginning confirmations are must after correction completion through sustaining above minimum above 1st Resistance and that is at 5305.
Following lines were told yesterday in Market capped between 5175-5305:-
1- Free Trading zone between 5231-5275 and expected that Nifty will firstly trade and prepare for next moves within this range,break out of this range will be first indication
2- sustaining beyond 5175-5305 will be next decisive trend confirmation.
3- strong multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered
4-Nifty will trade next 2/3 sessions between 5175-5305 and prepare.
All above 4 projections of yesterday proved accurate today. Good support and strong moves today but rally beginning confirmations are must after correction completion through sustaining above minimum above 1st Resistance and that is at 5305.
Mid-session Outlook-2(17-04-2012)
Firstly lower levels support before Credit Policy today and after that again higher bottom formation and support therefore first signal of upmoves but sustaining above 5265 should also be watched for strong indication.
Mid-session Outlook(17-04-2012)
Market shoot up after RBI announcement of 50 basis points Repo Rates cut but could not cross Selling range of 13-04-20129(Resistance between 5275-5305). Following lines were told yesterday in Market capped between 5175-5305:-
"multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered"
Market is not prepared for any side decisive moves therefore following topic was posted yesterdaY:-
Market capped between 5175-5305
Detailed analysis have already been updated in above topic yesterday therefore just click above topic link and go through.
"multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered"
Market is not prepared for any side decisive moves therefore following topic was posted yesterdaY:-
Market capped between 5175-5305
Detailed analysis have already been updated in above topic yesterday therefore just click above topic link and go through.
Pre-open Outlook(17-04-2012)
Sentiment is depressed today morning because most Asian markets are trading in Red.
RBI Credit Policy at 11:00AM today and volatility immediately before and after its announcement may be seen. As RBI expressed worries on inflation in Micro Economic Review yesterday evening therefore cofusion on rates cut increased and SGX Nifty is more than 40 points today morning.
Market is capped between 5175-5305 today and follow up moves before and after Credit Policy will decide next market as well as break out of this range will be next moves confirmations.
Detailed analysis has already been updated yesterday in following topic:-
Market capped between 5175-5305
RBI Credit Policy at 11:00AM today and volatility immediately before and after its announcement may be seen. As RBI expressed worries on inflation in Micro Economic Review yesterday evening therefore cofusion on rates cut increased and SGX Nifty is more than 40 points today morning.
Market is capped between 5175-5305 today and follow up moves before and after Credit Policy will decide next market as well as break out of this range will be next moves confirmations.
Detailed analysis has already been updated yesterday in following topic:-
Market capped between 5175-5305
Market capped between 5175-5305
Nifty-Micro Analysis of 2 days Intra Day Chart
(Apr 13 & Apr 16,2012)
Nifty-Intra Day Chart (Apr 13 & Apr 16,2012):-
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| Just click on chart for its enlarged view |
1- Selling and Resistance between 5275-5305 on 13-04-2012
2- Mixed Patterns between 5200-5236 after Panic Bottom on 13-04-2012
3- Support and Consolidation between 5190-5205 on 16-04-2012
4- Mixed Patterns between 5217-5231 on 16-04-2012
5- Free Trading zone between 5231-5275
Conclusions from 2 days intra day chart analysis
Strong old support range of 5175-5236 was told many times in last one week and Nifty traded whole day today between this range within 5183.50-5233.50 with lower levels supports and intraday consolidation patterns. Certainly mentioned old support range has strengthened today but strong multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered. As strong supports are lying between 5175-5236 therefore more selling is also equally required to sustain below.
Free Trading zone between 5231-5275 and expected that Nifty will firstly trade and prepare for next moves within this range,break out of this range will be first indication and sustaining beyond 5175-5305 will be next decisive trend confirmation. If any big news will not be visible then expected that Nifty will trade next 2/3 sessions between 5175-5305 and prepare.
Detailed Technical analysis have been posted with EOD and Intraday charts in following topics in last 3 days. Just click Topic Link below and understand Indian markets:-
1- Last corrective Wave before Strong Bullish Rally
2- Strong Rally Confirmations from Long Term Charts
3- Crucial Supports and Resistances of 36 sessions Correction
4- Lower Tops and Lower Bottoms Formation In On Going Correction
5- Correction is on & Firstly Watch Next Supports
6- Next Monday Asian markets reaction on Western Markets Bloodshed
7- Panic bottom formation on 13-04-2012
8- Market capped between Supports and Resistances
FII & DII trading activity in Capital Market Segment on 16-Apr-2012
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Indian Stock Markets Closing Reports(16-Apr-2012)
Main features of today trading are as follows
1- Benchmark Indices closed in Green.
2- White Candle.
3- Closing near the higher levels of the day.
Ratios
Nifty Put Call Ratio:0.92
Nifty P/E Ratio(16-Apr-2012):18.41
Advances & Declines
BSE Advances : 1554
BSE Declines : 1258
NSE Advances : 811
NSE Declines : 620
Nifty Open Interest Changed Today
Nifty- 5100 CE(Apr)- -268550(-25.41%)
Nifty- 5100 PE(Apr)- +81050(+1.35%)
Nifty- 5200 CE(Apr)- +260100(+8.47%)
Nifty- 5200 PE(Apr)- -97850(-1.52%)
Nifty- 5300 CE(Apr)- +495700(+10.70%)
Nifty- 5300 PE(Apr)- +110100(+3.35%)
Closing
Nifty- closed at 5,226.20(+18.75 Points & +0.36%)
Sensex- closed at 17,150.95(+56.44 Points & +0.33% )
CNX Midcap - closed at 7,604.40(+24.80 Points & +0.33%)
BSE Smallcap- closed at 6,837.26(+38.03 Points & +0.56%)
1- Benchmark Indices closed in Green.
2- White Candle.
3- Closing near the higher levels of the day.
Ratios
Nifty Put Call Ratio:0.92
Nifty P/E Ratio(16-Apr-2012):18.41
Advances & Declines
BSE Advances : 1554
BSE Declines : 1258
NSE Advances : 811
NSE Declines : 620
Nifty Open Interest Changed Today
Nifty- 5100 CE(Apr)- -268550(-25.41%)
Nifty- 5100 PE(Apr)- +81050(+1.35%)
Nifty- 5200 CE(Apr)- +260100(+8.47%)
Nifty- 5200 PE(Apr)- -97850(-1.52%)
Nifty- 5300 CE(Apr)- +495700(+10.70%)
Nifty- 5300 PE(Apr)- +110100(+3.35%)
Closing
Nifty- closed at 5,226.20(+18.75 Points & +0.36%)
Sensex- closed at 17,150.95(+56.44 Points & +0.33% )
CNX Midcap - closed at 7,604.40(+24.80 Points & +0.33%)
BSE Smallcap- closed at 6,837.26(+38.03 Points & +0.56%)
Nifty Spot-Levels & Trading Strategy for 17-04-2012
Nifty Spot-Levels
R3 5295
R2 5264
R1 5245
Avg 5214
S1 5195
S2 5164
S3 5145
Nifty Spot-Trading Strategy
H6 5276 Trgt 2
H5 5264 Trgt 1
H4 5253 Long breakout
H3 5239 Go Short
H2 5235
H1 5230
L1 5221
L2 5216
L3 5212 Long
L4 5198 Short Breakout
L5 5187 Trgt 1
L6 5175 Trgt 2
R3 5295
R2 5264
R1 5245
Avg 5214
S1 5195
S2 5164
S3 5145
Nifty Spot-Trading Strategy
H6 5276 Trgt 2
H5 5264 Trgt 1
H4 5253 Long breakout
H3 5239 Go Short
H2 5235
H1 5230
L1 5221
L2 5216
L3 5212 Long
L4 5198 Short Breakout
L5 5187 Trgt 1
L6 5175 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 17-04-2012
Nifty(Apr Fut)-Levels
R3 5351
R2 5304
R1 5276
Avg 5229
S1 5201
S2 5154
S3 5126
Nifty(Apr Fut)-Trading Strategy
H6 5323 Trgt 2
H5 5306 Trgt 1
H4 5289 Long breakout
H3 5268 Go Short
H2 5261
H1 5254
L1 5241
L2 5234
L3 5227 Long
L4 5206 Short Breakout
L5 5189 Trgt 1
L6 5172 Trgt 2
R3 5351
R2 5304
R1 5276
Avg 5229
S1 5201
S2 5154
S3 5126
Nifty(Apr Fut)-Trading Strategy
H6 5323 Trgt 2
H5 5306 Trgt 1
H4 5289 Long breakout
H3 5268 Go Short
H2 5261
H1 5254
L1 5241
L2 5234
L3 5227 Long
L4 5206 Short Breakout
L5 5189 Trgt 1
L6 5172 Trgt 2
Bank Nifty(Apr Fut)-Levels & Trading Strategy for 17-04-2012
Bank Nifty(Apr Fut)-Levels
R3 10824
R2 10662
R1 10574
Avg 10412
S1 10324
S2 10162
S3 10074
Bank Nifty(Apr Fut)-Trading Strategy
H6 10742 Trgt 2
H5 10683 Trgt 1
H4 10624 Long breakout
H3 10555 Go Short
H2 10532
H1 10509
L1 10464
L2 10441
L3 10418 Long
L4 10349 Short Breakout
L5 10290 Trgt 1
L6 10231 Trgt 2
R3 10824
R2 10662
R1 10574
Avg 10412
S1 10324
S2 10162
S3 10074
Bank Nifty(Apr Fut)-Trading Strategy
H6 10742 Trgt 2
H5 10683 Trgt 1
H4 10624 Long breakout
H3 10555 Go Short
H2 10532
H1 10509
L1 10464
L2 10441
L3 10418 Long
L4 10349 Short Breakout
L5 10290 Trgt 1
L6 10231 Trgt 2
Pre-Closing Outlook(16-04-2012)
Whole day trading today between crucial and strong support range(5175-5236) with lower levels supports and intraday consolidation patterns.
RBI Credit Policy led moves market will be seen tomorrow and sustaining beyond above mentioned range will be next decisive trend confirmation therefore should be firstly watched.
RBI Credit Policy led moves market will be seen tomorrow and sustaining beyond above mentioned range will be next decisive trend confirmation therefore should be firstly watched.
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