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Correction continuation

Nifty-Intra Day Chart (30-Oct-2012):-
Just click on chart for its enlarged view
Nifty-Intra Day Chart (31-Oct-2012):-
Just click on chart for its enlarged view
Technical Patterns and Formations in above 2 intraday charts

1- Last more than 4 hours trading between 5590-5615 with higher levels intraday selling patterns on 30-10-2012.
2- Whole day trading between 5583-5624 on 31-10-2012. 
3- Last 2 hours trading with Bearish Rising Wedge formation on 31-10-2012.
4- Whole day intraday selling patterns formation on 31-10-2012 despite closing near day's high. 
4- More than 10 hours trading between 5583-5624 in last 2 sessions with intraday selling patterns formations.

Conclusions from intra day charts analysis 

Although Indian markets closed near the highs of the day with Green closing today but sufficient selling formations between 5583-5624 in last 2 sessions therefore high possibility of sustaining below the lowest(5583) of above mentioned 10 hours trading range. 

 Expected that finally NIfty will sustain below 5583 and on going correction will remain continued in the coming sessions.
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FII Trading Data in Derivatives Segment on 31-Oct-2012


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FII & DII trading activity in Capital Market Segment on 31-Oct-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
FII31-Oct-20122194.021945.54248.48

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
DII31-Oct-20121038.051135.9-97.85
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Indian Stock Markets Closing Reports(31-Oct-2012)

Main features of today trading are as follows

1- Benchmark Indices closed in Green.
2- Closing near higher levels of the day after slow up moves.
3- White Candle formation.

Ratios

Nifty P/E Ratio(31-Oct-2012): 17.61

Advances & Declines

BSE Advances : 1,473
BSE Declines : 1,328  
NSE Advances :   791
NSE Declines :   635

Nifty Open Interest Changed Today

Nifty- 5400 CE(Nov)- 33,000(1.97%)
Nifty- 5400 PE(Nov)- 452,150(10.39%)

Nifty- 5500 CE(Nov)- 94,700(11.13%)
Nifty- 5500 PE(Nov)- 393,600(8.91%)

Nifty- 5600 CE(Nov)- 498,300(21.15%)
Nifty- 5600 PE(Nov)- 539,650(11.01%)

Nifty- 5700 CE(Nov)- 809,200(16.91%)
Nifty- 5700 PE(Nov)- 100,250(2.76%)

Closing 

Sensex- closed at 18505.38(74.53 Points & 0.40%)
Nifty- closed at 5,619.70(21.80 Points & 0.39%)
CNX Midcap - closed at 7,763.05(80.70 Points & 1.05%)
CNX Smallcap- closed at 3,410.25(27.70 Points & 0.82%)
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Nifty(Nov Fut)-Levels & Trading Strategy for 01-112012

Nifty(Nov Fut)-Levels

R3 5698
R2 5674
R1 5660
Avg 5636
S1 5622
S2 5598
S3 5584

Nifty(Nov Fut)-Trading Strategy

H6 5684     Trgt 2 
H5 5675     Trgt 1
H4 5666     Long breakout 
H3 5656     Go Short 
H2 5652
H1 5649
L1 5642
L2 5639
L3 5635     Long 
L4 5625     Short Breakout 
L5 5616     Trgt 1 
L6 5607    Trgt 2
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Bank Nifty(Nov Fut)-Levels & Trading Strategy for 01-112012

Bank Nifty(Nov Fut)-Levels

R3 11564
R2 11464
R1 11401
Avg 11301
S1 11238
S2 11138
S3 11075

Bank Nifty(Nov Fut)-Trading Strategy

H6 11502     Trgt 2 
H5 11465     Trgt 1
H4 11427     Long breakout 
H3 11382     Go Short 
H2 11367
H1 11352
L1 11323
L2 11308
L3 11293     Long 
L4 11248     Short Breakout 
L5 11210     Trgt 1 
L6 11173     Trgt 2
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Nifty Spot-Levels & Trading Strategy for 01-112012

Nifty Spot-Levels

R3 5675
R2 5649
R1 5634
Avg 5608
S1 5593
S2 5567
S3 5552

Nifty Spot-Trading Strategy

H6 5660     Trgt 2 
H5 5650     Trgt 1
H4 5641     Long breakout 
H3 5630     Go Short 
H2 5626
H1 5622
L1 5615
L2 5611
L3 5607     Long 
L4 5596     Short Breakout 
L5 5587     Trgt 1 
L6 5577     Trgt 2
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Pre-Closing Outlook(31-10-2012)

As Dow'Futures is more than 60 points up and European markets are trading positive therefore sentiment improved and recovery seen from lower levels today and Nifty is trading above 5615. Nifty traded last more than 10 hours between 5583-5624 with intraday selling formation at higher levels within this range and until Nifty will not sustain above this range till then deeper correction will be expected below 5583.
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Mid-session Outlook-2 (31-10-2012)

Last more than 4 hours trading between 5590-5615 with higher levels intraday selling patterns yesterday and today again almost same range first 4 hours trading between 5583--5610. More than 8 hours trading between 5583-5615 in 2 sessions and this range final break out will give following conclusions:-

1- Below 5583 will be validation of 24 sessions trading range breaking down. As selling formations seen within this range yesterday therefore its possibility is very much alive.
2- Above 5615 will mean reentering possibility into 24 sessions trading range after false break down on 30-10-2012.
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Mid-session Outlook(31-10-2012)

Firstly forceful breaking down of last 24 sessions range and after that last more than 4 hours trading between 5590-5615 yesterday with intraday selling patterns at higher levels within this range. Today first 2 hours trading between 5,586-5,610 and until Nifty will not sustain above 5615 till then next up move will not be considered because intraday selling patterns just below it yesterday.

 Emergence of Bearish pattern of Head and Shoulders in last 24 sessions and its Neckline broken down at 5634 yesterday but broken down confirmation is left. As selling just below 5615 yesterday therefore expected that more down moves will be seen below today lows(5586) also.
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Big Correction below Head & Shoulder's Neckline

Technical Analysis and Research For 31-10-2012

Nifty-EOD Chart (30-Oct-2012):-
Just click on chart for its enlarged view
Technical Patterns and Formations in EOD charts

1- Wave-2 completion and Wave-3 beginning (4770.35 on 04-06-2012)
2- Sub Wave-1 of  Wave-3(5348.55 ON 10-07-2012)
3- Sub Wave-2 of  Wave-3(5032.40 on 26-07-2012)
4- Sub Wave-3 of  Wave-3(5448.40 on 23-08-2012)
5- Sub Wave-4 of  Wave-3(5215.70 on 05-09-2012)
6- Sub Wave-5 of Wave-3 completion at 5815.35 on 05-10-2012.
7- Sub Wave-5 of Wave-3 gained 600 Nifty points.
8- Wave-3 gained 1045 Nifty points.
7- 16 Sessions sideways correction between 5639-5733. 
8- 24 Sessions most time trading between 5639-5733 with Bearish Head & Shoulders formation and its Neckline forcefully broken down on 30-10-2012.

Conclusions from EOD chart analysis 

16 Sessions sideways correction between 5639-5733 but strong indication of deeper correction after Bearish Head & Shoulders formation in last 24 sessions as well as its neckline broken down on 30-10-2012 after RBI Credit Policy announcement. Although forceful break down and closing also well below neckline but firstly break down validity confirmation is required through following 2 filters:-

1- 3 Days sustaining below Neckline and/or
2- Slipping 3% below Neckline.

Breaking down confirmation will mean possibility of following 2 corrective moves:-

1- Firstly correction of 600 Nifty points up moves of Sub Wave-5 of Wave-3 from 05-09-2012 to 05-10-2012  
2 As correction of Wave-3 started after completion of Sub Wave-5 therefore Indian markets are technically mature for 'ABC' correction of whole 1045 Nifty points up moves of Wave-3 from 04-06-2012 to 05-10-2012  

Firstly understand the validity of correction and get confirmation through above mentioned 2 filters and then prepare yourself for above 2 corrective deeper down moves.
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FII Trading Data in Derivatives Segment on 30-Oct-2012


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FII & DII trading activity in Capital Market Segment on 30-Oct-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
FII30-Oct-20121448.831640.36-191.53

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
DII30-Oct-20121265.791297.63-31.84
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Indian Stock Markets Closing Reports(30-Oct-2012)

Main features of today trading are as follows

1- All the Indices closed in Red except CNX IT and CNX MEDIA.
2- Sharp fall after RBI Credit policy.
3- Long Black Candle formation.

Ratios

Nifty P/E Ratio(30-Oct-2012): 17.56

Advances & Declines

BSE Advances :   969
BSE Declines : 1,838
NSE Advances :   506
NSE Declines : 1,219

Nifty Open Interest Changed Today

Nifty- 5400 CE(Nov)- -6,600(-0.39%)
Nifty- 5400 PE(Nov)- 323,200(8.02%)

Nifty- 5500 CE(Nov)- 64,700(8.23%)
Nifty- 5500 PE(Nov)- 943,400(27.16%)

Nifty- 5600 CE(Nov)- 1,151,100(95.55%)
Nifty- 5600 PE(Nov)- 404,450(8.99%)

Nifty- 5700 CE(Nov)- 1,394,700(41.15%)
Nifty- 5700 PE(Nov)- -414,650(-10.24%)

Closing 

Sensex- closed at 18430.85(-204.97 Points & -1.10%)
Nifty- closed at 5,597.90(-67.70 Points & -1.19%)
CNX Midcap - 7,682.35closed at (-84.20 Points & -1.08%)
CNX Smallcap- closed at 3,382.55(-46.05 Points & -1.34%)
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Nifty Spot-Levels & Trading Strategy for 31-10-2012

Nifty Spot-Levels

R3 5761
R2 5725
R1 5661
Avg 5625
S1 5561
S2 5525
S3 5461

Nifty Spot-Trading Strategy

H6 5697     Trgt 2
H5 5674     Trgt 1
H4 5652     Long breakout
H3 5624     Go Short
H2 5615
H1 5606
L1 5587
L2 5578
L3 5569     Long
L4 5542     Short Breakout
L5 5519     Trgt 1
L6 5496     Trgt 2
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Nifty(Nov Fut)-Levels & Trading Strategy for 31-10-2012

Nifty(Nov Fut)-Levels

R3 5800
R2 5762
R1 5695
Avg 5657
S1 5590
S2 5552
S3 5485

Nifty(Nov Fut)-Trading Strategy

H6 5733     Trgt 2
H5 5709     Trgt 1
H4 5685     Long breakout
H3 5656     Go Short
H2 5647
H1 5637
L1 5618
L2 5608
L3 5599     Long
L4 5570     Short Breakout
L5 5546     Trgt 1
L6 5522     Trgt 2
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Bank Nifty(Nov Fut)-Levels & Trading Strategy for 31-10-2012

Bank Nifty(Nov Fut)-Levels

R3 11993
R2 11839
R1 11559
Avg 11405
S1 11125
S2 10971
S3 10691

Bank Nifty(Nov Fut)-Trading Strategy

H6 11714     Trgt 2 
H5 11615     Trgt 1
H4 11517     Long breakout 
H3 11398     Go Short 
H2 11358
H1 11318
L1 11239
L2 11199
L3 11159     Long 
L4 11040     Short Breakout 
L5 10942     Trgt 1 
L6 10843     Trgt 2
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Pre-Closing Outlook(30-10-2012)

24 Sessions trading range(5639-5733) forcefully breaking down as well as deeper correction strong indication after RBI Credit Policy announcement today. As Head and Shoulders like strong Bearish formation confirmation after its neckline breaking down therefore more down moves can not be ruled out in the coming sessions. 
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Mid-session Outlook-2(30-10-2012)

Finance Minister P. Chidambaram clearly showed his surprise and disappointment on today RBI Credit Policy announcement and it seems that there is lack of coordination between both key institutions. As such high level contradiction and confrontation therefore forceful breaking down and sustaining below(5639) last 24 sessions trading range.

 As sustaining below 5639 will mean deeper correction therefore its technical form was updated in following topic on 27-10-2012. Just click following topic link and understand technical points:-

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Mid-session Outlook(30-10-2012)

As last 2 sessions intraday charts showed intraday consolidation patterns therefore Indian markets were positive immediately after opening today and also more than .25% up  just before RBI Credit Policy announcements. As Credit Policy could not fulfill the expectations of market and only CRR cut by .25% but no change in rates therefore market slipped immediately after opening as well as traded below 5639.

 Bank Nifty was almost 1% up before RBI Credit Policy announcements but now more than 1% down after Credit policy.

 Sentiment fused after Credit policy and Nifty sustaining below 5639 as well as 24 sessions trading range breaking down possibility can not be ruled out.
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Rally after RBI Credit Policy

Nifty-Micro Analysis of 2 Sessions Intra Day
 Chart(Oct 26 to Oct 29,2012)
Nifty-Intra Day Chart (Oct 26 to Oct 29,2012):-
Just click on chart for its enlarged view
Technical Patterns and Formations in last 2 Sessions intraday charts

1- Last 2 sessions trading between 5642-5697
2- Last 2 sessions down moves in falling channel 

Conclusions from 2 Sessions intra day chart analysis 

As consolidation pattern formations in last 2 sessions through falling channel down moves therefore Indian markets are technically prepared for up moves as well as emergence of rally possibility after RBI Credit Policy tomorrow.

Next trend confirmations levels are as follows:-

1- 5642-5697
2- 5639-5733

Just click following topic link for detailed analysis of Indian Stock Markets:-

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