As Whole day down moves with intraday consolidation patterns and panic bottom formations also today therefore expected that Nifty will get support between 5050-5100 and now rally will start in next week after completion of all corrections.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(04-05-2012)
Nifty slipped below 5136 today but its possibility was updated in following topic on 15-04-2012
"Lower Tops and Lower Bottoms Formation In On Going Correction"
Just click above topic link and understand the technical reasons of slipping below 5136.
Although market is almost 2% down today and also trading below 200 Day SMA also but expected that Nifty will get support between 5050-5100 and now rally will start after completion of all corrections.
As intraday patterns are showing consolidation pstterns also therefore support getting ia expected between 5050-5100.
"Lower Tops and Lower Bottoms Formation In On Going Correction"
Just click above topic link and understand the technical reasons of slipping below 5136.
As intraday patterns are showing consolidation pstterns also therefore support getting ia expected between 5050-5100.
Post-open Outlook(04-05-2012)
Following line and levels were updated yesterday in "Correction continuation to test next Supports"
More slipping to test following supports will be seen in the coming sessions:-
1- Support between 5165-5192
2- Support between 5136-5155
Slipping after opening and above mentioned both supports have been tested today. Although down moves immediately after opening but intraday patterns have started to produce intraday consolidation patterns therefore again support getting within or near about 2nd support range(5136-5155) will be considered now.
It should be kept in mind that correction is still continued and Nifty may slip below 5136 also but expected that finaally Nifty will get support near about 5136 because intraday consolidation patterns started to develop today.
Let consolidation process and bottom formation complete then up moves will be expected and updated also after confirmations.
More slipping to test following supports will be seen in the coming sessions:-
1- Support between 5165-5192
2- Support between 5136-5155
Slipping after opening and above mentioned both supports have been tested today. Although down moves immediately after opening but intraday patterns have started to produce intraday consolidation patterns therefore again support getting within or near about 2nd support range(5136-5155) will be considered now.
It should be kept in mind that correction is still continued and Nifty may slip below 5136 also but expected that finaally Nifty will get support near about 5136 because intraday consolidation patterns started to develop today.
Let consolidation process and bottom formation complete then up moves will be expected and updated also after confirmations.
Correction continuation to test next Supports
Nifty-Micro Analysis of Intra Day Chart For 04-05-2012
Nifty-Intra Day Chart (03-May-2012):-
 |
| Just click on chart for its enlarged view |
1- Selling between 5205-5215
2- Down moves after selling.
3- Whole day trading between 5181-5215.
Conclusions from intra day chart analysis
As soon as selling developed then it was updated in all the 3 Mid-session Outlooks. When Nifty was trading at the top of the day then also doubt with reason was raised on up moves in Mid-session Outlook-3 and emphasised the requirement of confirmations in following lines:-
higher levels selling also seen today therefore sustaining above 5215 will be up moves confirmations and will be firstly watched because last half hour up moves are on the back of strong cues from European markets.
Correction is on and down moves today after good selling at higher levels. More slipping to test following supports will be seen in the coming sessions:-
1- Support between 5165-5192
2- Support between 5136-5155
FII & DII trading activity in Capital Market Segment on 03-May-2012
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Indian Stock Markets Closing Reports(03-May-2012)
Main features of today trading are as follows
1- Black Candle.
2- Red closing.
3- Closing near the lowest of the day after higher levels selling.
Ratios
Nifty Put Call Ratio: 0.98
Nifty P/E Ratio(03-May-2012): 17.81
Advances & Declines
BSE Advances : 1014
BSE Declines : 1779
NSE Advances : 408
NSE Declines : 1031
Nifty Open Interest Changed Today
Nifty- 5000 CE(May)- +46900(+5.52%)
Nifty- 5000 PE(May)- +691350(+15.60%)
Nifty- 5100 CE(May)- +106400(+11.53%)
Nifty- 5100 PE(May)- +767350(+16.01%)
Nifty- 5200 CE(May)- +657150(+28.75%)
Nifty- 5200 PE(May)- -387950(-8.39%)
Nifty- 5300 CE(May)- +655300(+16.76%)
Nifty- 5300 PE(May)- -176200(-7.57%)
Closing
Nifty- closed at 5,188.40(-50.75 Points & -0.97%)
Sensex- closed at 17,151.19(-150.72 Points & -0.87% )
CNX Midcap - closed at 7,358.20(-85.55 Points & -1.15%)
BSE Smallcap- closed at 6,709.96(-67.98 Points & -1.00%)
1- Black Candle.
2- Red closing.
3- Closing near the lowest of the day after higher levels selling.
Ratios
Nifty Put Call Ratio: 0.98
Nifty P/E Ratio(03-May-2012): 17.81
Advances & Declines
BSE Advances : 1014
BSE Declines : 1779
NSE Advances : 408
NSE Declines : 1031
Nifty Open Interest Changed Today
Nifty- 5000 CE(May)- +46900(+5.52%)
Nifty- 5000 PE(May)- +691350(+15.60%)
Nifty- 5100 CE(May)- +106400(+11.53%)
Nifty- 5100 PE(May)- +767350(+16.01%)
Nifty- 5200 CE(May)- +657150(+28.75%)
Nifty- 5200 PE(May)- -387950(-8.39%)
Nifty- 5300 CE(May)- +655300(+16.76%)
Nifty- 5300 PE(May)- -176200(-7.57%)
Closing
Nifty- closed at 5,188.40(-50.75 Points & -0.97%)
Sensex- closed at 17,151.19(-150.72 Points & -0.87% )
CNX Midcap - closed at 7,358.20(-85.55 Points & -1.15%)
BSE Smallcap- closed at 6,709.96(-67.98 Points & -1.00%)
Nifty Spot-Levels & Trading Strategy for 04-05-2012
Nifty Spot-Levels
R3 5247
R2 5232
R1 5210
Avg 5195
S1 5173
S2 5158
S3 5136
Nifty Spot-Trading Strategy
H6 5225 Trgt 2
H5 5216 Trgt 1
H4 5208 Long breakout
H3 5198 Go Short
H2 5194
H1 5191
L1 5184
L2 5181
L3 5177 Long
L4 5167 Short Breakout
L5 5159 Trgt 1
L6 5150 Trgt 2
R3 5247
R2 5232
R1 5210
Avg 5195
S1 5173
S2 5158
S3 5136
Nifty Spot-Trading Strategy
H6 5225 Trgt 2
H5 5216 Trgt 1
H4 5208 Long breakout
H3 5198 Go Short
H2 5194
H1 5191
L1 5184
L2 5181
L3 5177 Long
L4 5167 Short Breakout
L5 5159 Trgt 1
L6 5150 Trgt 2
Nifty(May Fut)-Levels & Trading Strategy for 04-05-2012
Nifty(May Fut)-Levels
R3 5269
R2 5251
R1 5225
Avg 5207
S1 5181
S2 5163
S3 5137
Nifty(May Fut)-Trading Strategy
H6 5243 Trgt 2
H5 5233 Trgt 1
H4 5223 Long breakout
H3 5211 Go Short
H2 5207
H1 5203
L1 5194
L2 5190
L3 5186 Long
L4 5174 Short Breakout
L5 5164 Trgt 1
L6 5154 Trgt 2
R3 5269
R2 5251
R1 5225
Avg 5207
S1 5181
S2 5163
S3 5137
Nifty(May Fut)-Trading Strategy
H6 5243 Trgt 2
H5 5233 Trgt 1
H4 5223 Long breakout
H3 5211 Go Short
H2 5207
H1 5203
L1 5194
L2 5190
L3 5186 Long
L4 5174 Short Breakout
L5 5164 Trgt 1
L6 5154 Trgt 2
Bank Nifty(May Fut)-Levels & Trading Strategy for 04-05-2012
Bank Nifty(May Fut)-Levels
R3 10364
R2 10302
R1 10208
Avg 10146
S1 10052
S2 9990
S3 9896
Bank Nifty(May Fut)-Trading Strategy
H6 10271 Trgt 2
H5 10236 Trgt 1
H4 10200 Long breakout
H3 10157 Go Short
H2 10143
H1 10129
L1 10100
L2 10086
L3 10072 Long
L4 10029 Short Breakout
L5 9993 Trgt 1
L6 9958 Trgt 2
R3 10364
R2 10302
R1 10208
Avg 10146
S1 10052
S2 9990
S3 9896
Bank Nifty(May Fut)-Trading Strategy
H6 10271 Trgt 2
H5 10236 Trgt 1
H4 10200 Long breakout
H3 10157 Go Short
H2 10143
H1 10129
L1 10100
L2 10086
L3 10072 Long
L4 10029 Short Breakout
L5 9993 Trgt 1
L6 9958 Trgt 2
Post-Closing Outlook(03-05-2012)
As Mid Session up moves were on the back of European markets Strong opening therefore following precaution was updated in "Mid-session Outlook-3(03-05-2012)":-
"higher levels selling also seen today therefore sustaining above 5215 will be up moves confirmations and will be firstly watched because last half hour up moves are on the back of strong cues from European markets"
When market was trading at the top of the day after sharp surge then We projected our doubts in above lines and clearly told the requirement of confirmations through sustaining above 5215.
Nifty could not sustain above 5215 and tumbled as well as formed new intraday lows also after 02:20 Pm today
As fresh selling seen at higher levels today also therefore more down moves are expected in the coming sessions.
"higher levels selling also seen today therefore sustaining above 5215 will be up moves confirmations and will be firstly watched because last half hour up moves are on the back of strong cues from European markets"
When market was trading at the top of the day after sharp surge then We projected our doubts in above lines and clearly told the requirement of confirmations through sustaining above 5215.
Nifty could not sustain above 5215 and tumbled as well as formed new intraday lows also after 02:20 Pm today
As fresh selling seen at higher levels today also therefore more down moves are expected in the coming sessions.
Mid-session Outlook-3(03-05-2012)
Strong opening of European markets and trading .70% to 1.10% up. Indian markets also moved up after strong opening of European markets and Nifty is trading between 5191-5215 despite Futures surged sharp.
As intraday supports at lower levels and higher levels selling also seen today therefore sustaining above 5215 will be up moves confirmations and will be firstly watched because last half hour up moves are on the back of strong cues from European markets.
As intraday supports at lower levels and higher levels selling also seen today therefore sustaining above 5215 will be up moves confirmations and will be firstly watched because last half hour up moves are on the back of strong cues from European markets.
Mid-session Outlook-2(03-05-2012)
Sideways trading between 5191-5215 with higher levels intraday selling patterns but lower levels supports are also being seen. Sustaining beyond today trading range will be next move first indication.
Mid-session Outlook(03-05-2012)
Sideways trading between 5191-5215 with higher levels intraday selling patterns today.
Trading within Trend decider Crucial support zone
Nifty-EOD Chart (02-May-2012):-
Technical Patterns and Formations in EOD charts
1- 49 Sessions correction after rally completion at 5629.
2- Correction in Falling Trendline.
3- Crucial support zone between 5136-5236
Nifty-Intra Day Chart (02-May-2012):-
Technical Patterns and Formations in intraday charts
1- Selling between 5267-5279
2- Mixed Patterns between 5242-5255
3- Whole day trading between 5226-5279
Correction is continued below Falling Trend line and following multiple resistances developed during this correction:-
1- Resistance between 5267-5279
2- Resistance between 5275-5305
3- Resistance between 5318-5337
4- Resistance between 5357-5377
5- Resistance between 5418-5487
6- Resistance between 5588-5625
Support zone has also developed between 5136-5236 and crucial support ranges within this zone are as follows:-.
1- Support between 5222-5236
2- Support between 5165-5192
3- Support between 5136-5155
Market slipped after higher levels selling and closed at the lowest of the day yesterday. Only Pull back rally was expected and following line was told in "Pull Back Rally on Cards" yesterday:-
expected that fresh Pull Back Rally will begin now to test next resistances near 5300
Nifty traded within next resistance range(5275-5305) and slipped after fresh selling between 5267-5279. As previous resistance strengthened after fresh selling within and just below it yesterday therefore whole day down moves and closing at lowest of the day was seen yesterday.
As soon as selling started to develop then it was also clearly updated in both Mid-session Outlooks yesterday and following line was told:
next support(5222) should be watched and slipping below 5222 will mean decisive down moves.
Down moves will be seen today and testing of above supports can not be ruled out after yesterday selling and complete consolidation is also required for any decisive up move but until Nifty will not sustain below 5136 till then deeper correction will not be considered.
Coming sessions trading is expected between crucial support zone 5136-5236 and sustaining it beyond should be firstly watched for next trend confirmations. consolidation/distribution within this range will decide the life and depth of on going correction.
 |
| Just click on chart for its enlarged view |
1- 49 Sessions correction after rally completion at 5629.
2- Correction in Falling Trendline.
3- Crucial support zone between 5136-5236
Nifty-Intra Day Chart (02-May-2012):-
 |
| Just click on chart for its enlarged view |
1- Selling between 5267-5279
2- Mixed Patterns between 5242-5255
3- Whole day trading between 5226-5279
Conclusions (After Putting All Indicators Together)
Correction is continued below Falling Trend line and following multiple resistances developed during this correction:-
1- Resistance between 5267-5279
2- Resistance between 5275-5305
3- Resistance between 5318-5337
4- Resistance between 5357-5377
5- Resistance between 5418-5487
6- Resistance between 5588-5625
Support zone has also developed between 5136-5236 and crucial support ranges within this zone are as follows:-.
1- Support between 5222-5236
2- Support between 5165-5192
3- Support between 5136-5155
Market slipped after higher levels selling and closed at the lowest of the day yesterday. Only Pull back rally was expected and following line was told in "Pull Back Rally on Cards" yesterday:-
expected that fresh Pull Back Rally will begin now to test next resistances near 5300
Nifty traded within next resistance range(5275-5305) and slipped after fresh selling between 5267-5279. As previous resistance strengthened after fresh selling within and just below it yesterday therefore whole day down moves and closing at lowest of the day was seen yesterday.
As soon as selling started to develop then it was also clearly updated in both Mid-session Outlooks yesterday and following line was told:
next support(5222) should be watched and slipping below 5222 will mean decisive down moves.
Down moves will be seen today and testing of above supports can not be ruled out after yesterday selling and complete consolidation is also required for any decisive up move but until Nifty will not sustain below 5136 till then deeper correction will not be considered.
Coming sessions trading is expected between crucial support zone 5136-5236 and sustaining it beyond should be firstly watched for next trend confirmations. consolidation/distribution within this range will decide the life and depth of on going correction.
FII & DII trading activity in Capital Market Segment on 02-May-2012
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Indian Stock Markets Closing Reports(02-May-2012)
Main features of today trading are as follows
1- Black Doji Candle formation.
2- Closing near the day's lows in Red after loosing all intraday gains.
3- Most of the Indices slipped from higher levels.
Ratios
Nifty Put Call Ratio: 0.92
Nifty P/E Ratio(02-May-2012):17.99
Advances & Declines
BSE Advances : 1340
BSE Declines : 1475
NSE Advances : 645
NSE Declines : 773
Nifty Open Interest Changed Today
Nifty- 5100 CE(May)- +24800(+2.76%)
Nifty- 5100 PE(May)- +177500(+3.82%)
Nifty- 5200 CE(May)- -72900(-3.07%)
Nifty- 5200 PE(May)- +923700(+23.49%)
Nifty- 5300 CE(May)- +802100(+24.24%)
Nifty- 5300 PE(May)- +297700(+14.25%)
Nifty- 5400 CE(May)- +628300(+14.80%)
Nifty- 5400 PE(May)- +78950(+7.10%)
Closing
Nifty- closed at 5,239.15(-9.00 Points & -0.17%)
Sensex- closed at 17,301.91(-16.90 Points & -0.10% )
CNX Midcap - closed at 7,443.75(-27.30 Points & -0.37%)
BSE Smallcap- closed at 6,777.94(+13.32 Points & +0.20%)
1- Black Doji Candle formation.
2- Closing near the day's lows in Red after loosing all intraday gains.
3- Most of the Indices slipped from higher levels.
Ratios
Nifty Put Call Ratio: 0.92
Nifty P/E Ratio(02-May-2012):17.99
Advances & Declines
BSE Advances : 1340
BSE Declines : 1475
NSE Advances : 645
NSE Declines : 773
Nifty Open Interest Changed Today
Nifty- 5100 CE(May)- +24800(+2.76%)
Nifty- 5100 PE(May)- +177500(+3.82%)
Nifty- 5200 CE(May)- -72900(-3.07%)
Nifty- 5200 PE(May)- +923700(+23.49%)
Nifty- 5300 CE(May)- +802100(+24.24%)
Nifty- 5300 PE(May)- +297700(+14.25%)
Nifty- 5400 CE(May)- +628300(+14.80%)
Nifty- 5400 PE(May)- +78950(+7.10%)
Closing
Nifty- closed at 5,239.15(-9.00 Points & -0.17%)
Sensex- closed at 17,301.91(-16.90 Points & -0.10% )
CNX Midcap - closed at 7,443.75(-27.30 Points & -0.37%)
BSE Smallcap- closed at 6,777.94(+13.32 Points & +0.20%)
Nifty Spot-Levels & Trading Strategy for 03-05-2012
Nifty Spot-Levels
R3 5323
R2 5301
R1 5270
Avg 5248
S1 5217
S2 5195
S3 5164
Nifty Spot-Trading Strategy
H6 5292 Trgt 2
H5 5280 Trgt 1
H4 5268 Long breakout
H3 5253 Go Short
H2 5248
H1 5243
L1 5234
L2 5229
L3 5224 Long
L4 5209 Short Breakout
L5 5197 Trgt 1
L6 5185 Trgt 2
R3 5323
R2 5301
R1 5270
Avg 5248
S1 5217
S2 5195
S3 5164
Nifty Spot-Trading Strategy
H6 5292 Trgt 2
H5 5280 Trgt 1
H4 5268 Long breakout
H3 5253 Go Short
H2 5248
H1 5243
L1 5234
L2 5229
L3 5224 Long
L4 5209 Short Breakout
L5 5197 Trgt 1
L6 5185 Trgt 2
Nifty(May Fut)-Levels & Trading Strategy for 03-05-2012
Nifty(May Fut)-Levels
R3 5351
R2 5326
R1 5286
Avg 5261
S1 5221
S2 5196
S3 5156
Nifty(May Fut)-Trading Strategy
H6 5311 Trgt 2
H5 5296 Trgt 1
H4 5281 Long breakout
H3 5263 Go Short
H2 5257
H1 5251
L1 5240
L2 5234
L3 5228 Long
L4 5210 Short Breakout
L5 5195 Trgt 1
L6 5180 Trgt 2
R3 5351
R2 5326
R1 5286
Avg 5261
S1 5221
S2 5196
S3 5156
Nifty(May Fut)-Trading Strategy
H6 5311 Trgt 2
H5 5296 Trgt 1
H4 5281 Long breakout
H3 5263 Go Short
H2 5257
H1 5251
L1 5240
L2 5234
L3 5228 Long
L4 5210 Short Breakout
L5 5195 Trgt 1
L6 5180 Trgt 2
Bank Nifty(May Fut)-Levels & Trading Strategy for 03-05-2012
Bank Nifty(May Fut)-Levels
R3 10482
R2 10428
R1 10349
Avg 10295
S1 10216
S2 10162
S3 10083
Bank Nifty(May Fut)-Trading Strategy
H6 10403 Trgt 2
H5 10373 Trgt 1
H4 10343 Long breakout
H3 10306 Go Short
H2 10294
H1 10282
L1 10257
L2 10245
L3 10233 Long
L4 10196 Short Breakout
L5 10166 Trgt 1
L6 10136 Trgt 2
R3 10482
R2 10428
R1 10349
Avg 10295
S1 10216
S2 10162
S3 10083
Bank Nifty(May Fut)-Trading Strategy
H6 10403 Trgt 2
H5 10373 Trgt 1
H4 10343 Long breakout
H3 10306 Go Short
H2 10294
H1 10282
L1 10257
L2 10245
L3 10233 Long
L4 10196 Short Breakout
L5 10166 Trgt 1
L6 10136 Trgt 2
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