Technical Analysis and Market Outlook(18-10-2012)

Nifty-Intra Day Chart (17-Oct-2012):-

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Technical Patterns and Formations in today intraday charts

1- Minor selling between 5656-5670
2- Down moves in Falling Channel.
3- Support between 5634-5646.
4- Whole day intraday consolidations patterns 
5- Whole day acual trading between 5634-574

Conclusions from intra day chart analysis 

Firstly down moves in Falling Channel after minor selling at higher levels and intraday supports also at lower levels. Although crucial support of 5639 broken but got support just below at 5634 and Whole day intraday patterns are showing consolidation formations also therefore supports strengthened near 5639.

Nifty traded most time between 5639-5733 in last 18 sessions and correcting sideways after 600 Nifty points strong rally in 21 sessions from 05-09-2012 to 05-10-2012. As Whole day intraday patterns are showing consolidation formations with lower levels good supports today therefore expected that on going range bound sideways correction(5634-5733) will remain continued tomorrow. 

Market takes its own time for building up positions and one has to wait for final forceful break out or sustaining beyond 

5634-5733/5656. 

FII Trading Data in Derivatives Segment on 17-Oct-2012

FII & DII trading activity in Capital Market Segment on 17-Oct-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 17-Oct-2012 2176.6 2141.06 35.54

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 17-Oct-2012 893.12 1141.52 -248.4

Indian Stock Markets Closing Reports(17-Oct-2012)

Main features of today trading are as follows

1- Benchmark Indices closed in Green with nominal gains.
2- Sideways narrow range market.
3- Black Candle formation.

Ratios

Nifty Put Call Ratio: 0.90
Nifty P/E Ratio(17-Oct-2012): 17.83

Advances & Declines

BSE Advances : 1324
BSE Declines : 1543
NSE Advances :  626
NSE Declines :  811

Nifty Open Interest Changed Today

Nifty- 5500 CE(Oct)- -14,650(-1.36%)
Nifty- 5500 PE(Oct)- 2,108,600(32.61%)

Nifty- 5600 CE(Oct)- 218,950(9.54%)
Nifty- 5600 PE(Oct)- 658,950(8.53%)

Nifty- 5700 CE(Oct)- -147,850(-2.05%)
Nifty- 5700 PE(Oct)-  292,750(5.81%)

Nifty- 5800 CE(Oct)- 2,133,500(21.22%)
Nifty- 5800 PE(Oct)- -161,800(-11.95%)

Closing 

Sensex- closed at 18,610.77(33.07 Points & 0.18%)
Nifty- closed at 5,660.25(12.25 Points & 0.22%)
CNX Midcap - closed at 7,861.55(2.25 Points & 0.03%)
CNX Smallcap- closed at 3,493.40(11.00 Points & 0.32%)

Nifty Spot-Levels & Trading Strategy for 18-10-2012

Nifty Spot-Levels

R3 5736
R2 5710
R1 5685
Avg 5659
S1 5634
S2 5608
S3 5583

Nifty Spot-Trading Strategy

H6  5711    Trgt 2
H5  5699    Trgt 1
H4  5688    Long breakout
H3  5674    Go Short
H2  5669
H1  5664
L1  5655
L2  5650
L3  5645    Long
L4  5631    Short Breakout
L5  5620    Trgt 1
L6  5608    Trgt 2

Nifty(Oct Fut)-Levels & Trading Strategy for 18-10-2012

Nifty(Oct Fut)-Levels

R3 5742

R2 5718

R1 5693

Avg 5669

S1 5644

S2 5620

S3 5595

Nifty(Oct Fut)-Trading Strategy

H6  5718    Trgt 2 

H5  5707    Trgt 1

H4  5695    Long breakout 

H3  5682    Go Short 

H2  5677

H1  5673

L1  5664

L2  5660

L3  5655    Long 

L4  5642    Short Breakout 

L5  5630    Trgt 1 

L6  5619    Trgt 2

Bank Nifty(Oct Fut)-Levels & Trading Strategy for 18-10-2012

Bank Nifty(Oct Fut)-Levels

R3 11562

R2 11504

R1 11446

Avg 11388

S1 11330

S2 11272

S3 11214

Bank Nifty(Oct Fut)-Trading Strategy

H6 11504     Trgt 2 

H5 11478     Trgt 1

H4 11451     Long breakout 

H3 11419     Go Short 

H2 11409

H1 11398

L1 11377

L2 11366

L3 11356     Long 

L4 11324     Short Breakout 

L5 11297     Trgt 1 

L6 11271     Trgt 2

Pre-Closing Outlook(17-10-2012)

Most of the time trading between 5639-5674 with minor selling at higher levels and slipping below 5639 but getting support also at 5634. As lower levels intraday patterns are showing consolidation formations with lower levels supports also therefore supports strengthened near 5639 and Indian markets are in sideways correction mode between 5639-5733.

Mid-session Outlook-2(17-10-2012)

Nifty slipped below 5639 but just watch sustaining below it because only that will be deeper correction confirmation.

Mid-session Outlook(17-10-2012)

Narrow range market today betwen 5641-5674 with intraday selling patterns higher levels. As intraday selling within previous support ranges therefore expected that down moves will be seen below 5639.

Post-open Outlook(17-10-2012)

Good opening on the back of positive Global markets but started to slip immediately after opening. Today intraday charts are showing consolidation indications but decisive up moves will be seen after sustaining above 5639 and 5674.

Technical Analysis and Market Outlook(17-10-2012)

Nifty-Intra Day Chart (Oct 08 to Oct 16,2012):-

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Technical Patterns and Formations in last 7 Sessions intraday charts

1- Selling between 5700-5720
2- Selling between 5720-5733
3- Consolidation between 5639-5664
4- 7 Sessions trading between 5639-5733 

Conclusions from 7 Sessions intra day chart analysis 

600 Nifty points strong rally in 21 sessions from 05-09-2012 to 05-10-2012 and after that its  correction in last 7 sessions with intraday Consolidation at lower levels and selling at higher levels with violent volatility also within 5639-5733.

Rally above 5733 after correction completion or deeper correction below 5639 will form next decisive trend after break out of last 7 Sessions trading range. As equally good supports at lower levels before today sharp fall therefore deeper correction confirmation is firstly required tomorrow through sustaining below 5639 but sustaining above 5639 will be confirmation of sideways market also.

Following lines were told on 13.10.2012 in Technical Analysis,Research & Weekly Outlook
(Oct 15 to Oct 19,2012) and being repeated for final conclusions:-

final break out of previous 3 weeks actual trading range(5639-5756) should be firstly watched because that will give confirmation to following decisive moves:-

1- Above 5756 will mean rally continuation after completion of sideways correction.
2- Below 5639 will mean deeper correction after 21 sessions 600 Nifty points strong rally.

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

Main features of today trading are as follows

1- Benchmark Indices closed in Red.
2- All the indices closed in Red except CNX MEDIA.
3- Long Black Candle formation.

Ratios

Nifty Put Call Ratio: 0.86
Nifty P/E Ratio(16-Oct-2012): 17.82

Advances & Declines

BSE Advances : 1190
BSE Declines : 1703
NSE Advances :  504
NSE Declines :  962

Nifty Open Interest Changed Today

Nifty- 5600 CE(Oct)- 16,900(1.54%)
Nifty- 5600 PE(Oct)- 463,750(7.67%)

Nifty- 5600 CE(Oct)- 152,450(6.82%)
Nifty- 5600 PE(Oct)- 389,350(5.06%)

Nifty- 5700 CE(Oct)- 1,801,600(31.19%)
Nifty- 5700 PE(Oct)- -495,650(-8.69%)

Nifty- 5700 CE(Oct)- 1,154,000(12.58%)
Nifty- 5700 PE(Oct)- -484,500(-25.25%)

Closing 

Sensex- closed at 18,577.70(-135.85 Points & -0.73%)
Nifty- closed at 5,648.00(-39.25 Points & -0.69%)
CNX Midcap - closed at 7,859.30(77.60 Points & -0.98%)
CNX Smallcap- closed at 3,482.40(-9.10 Points & -0.26%)

Nifty Spot-Levels & Trading Strategy for 17-10-2012

Nifty Spot-Levels

R3 5775

R2 5744

R1 5696

Avg 5665

S1 5617

S2 5586

S3 5538

Nifty Spot-Trading Strategy

H6 5727     Trgt 2 

H5 5709     Trgt 1

H4 5691     Long breakout 

H3 5669     Go Short 

H2 5662

H1 5655

L1 5640

L2 5633

L3 5626     Long 

L4 5604     Short Breakout 

L5 5586     Trgt 1 

L6 5568     Trgt 2

Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2012

Nifty(Oct Fut)-Levels

R3 5804

R2 5768

R1 5709

Avg 5673

S1 5614

S2 5578

S3 5519

Nifty(Oct Fut)-Trading Strategy

H6 5746     Trgt 2 

H5 5724     Trgt 1

H4 5703     Long breakout 

H3 5677     Go Short 

H2 5668

H1 5659

L1 5642

L2 5633

L3 5624     Long 

L4 5598     Short Breakout 

L5 5577     Trgt 1 

L6 5555     Trgt 2

Bank Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2012

Bank Nifty(Oct Fut)-Levels

R3 11701

R2 11624

R1 11489

Avg 11412

S1 11277

S2 11200

S3 11065

Bank Nifty(Oct Fut)-Trading Strategy

H6 11567     Trgt 2 

H5 11519     Trgt 1

H4 11471     Long breakout 

H3 11413     Go Short 

H2 11393

H1 11374

L1 11335

L2 11316

L3 11296     Long 

L4 11238     Short Breakout 

L5 11190     Trgt 1 

L6 11142     Trgt 2

Pre-Closing Outlook(16-10-2012)

As soon as intraday selling developed then it was updated in today Mid-session Outlook and clearly following line was told:-

"Intraday patterns are showing selling formations between 5702-5712 today"

Sharp fall after higher levels selling and testing of 22 sessions lowest(5639),forceful break down or sustaining it below will mean beginning of deeper correction in the coming sessions. 

Mid-session Outlook-2 (16-10-2012)

Although European markets are trading strong but Asian markets slipped. Indian markets are trading in Red after selling at higher levels today. Previous resistances were between 5700-5733 and today intraday selling seen within this range between 5702-5712 therefore previous resistance has become stronger.

Sideways correction(5639-5756) is continued with both lower levels supports and higher levels selling within following ranges:-

1- strong resistances between 5700-5733
2- Supports between 5653-5664
3- Supports between 5639-5646

Following lines were told on 13.10.2012 in Technical Analysis,Research & Weekly Outlook
(Oct 15 to Oct 19,2012) and being repeated for final conclusions:-

final break out of previous 3 weeks actual trading range(5639-5756) should be firstly watched because that will give confirmation to following decisive moves:-

1- Above 5756 will mean rally continuation after completion of sideways correction.
2- Below 5639 will mean deeper correction after 21 sessions 600 Nifty points strong rally.

Mid-session Outlook(16-10-2012)

Intraday patterns are showing selling formations between 5702-5712 today

Post-open Outlook(16-10-2012)

Today up moves possibilities were projected yesterday and it was seen today, Following lines were also told yesterday in Emergence of Rally continuation hopes after Sideways Correction completion:-

"strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion"

Nifty opened gap up within above mentioned strong resistances(5700-5733) but slipped below it because fresh consolidation is required today to cross and sustain above. Although last one hour of intraday down moves but good consolidation yesterday therefore until Nifty will not slip below 5653 till then view will not be bearish,follow up consolidation today will mean rally above 5756 after on going correction completion.

Emergence of Rally continuation hopes after Sideways Correction completion

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 5653-5664
2- Consolidation patterns between 5673-5684
3- Whole day acual trading between 5653-5692

Conclusions from intra day chart analysis 

Although intraday up moves started after 12:50PM but when Indian markets were trading near the lows of the day then intraday supports getting possibility was updated in Mid-session Outlook today at 11:53AM and following line was told:-

"lower levels supports can not be ruled out today'

Intraday consolidation at lower levels after weak opening and again follow up intraday consolidation patterns were also seen at higher levels today therefore expected that today started up moves will remain continued tomorrow also but strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion.

As rally continuation hopes emerged after today good intraday consolidations therefore following lines were told in Pre-Closing Outlook today and being repeated for final conclusions:-

"trading between 5674-5691 for the last 2 hours with intraday consolidation patterns therefore expected that today started up moves will remain continued tomorrow but decisive rally after on going correction completion will get confirmation after sustaining above 5733/5756"