Lok Sabha adjourned till Monday after uproar and sentiment dampened therefore Indian markets also slipped from intraday higher levels. Consolidation was seen between 5609-5619 yesterday and breaking it down will mean failure to cross resistance and will be fresh down moves confirmation
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(23-11-2012)
Nifty traded 1st hour between 5621-5633 with intraday consolidation patterns today and it is first signal of next up moves also. As next short term up moves confirmation will be after break out of present trading resistance range(5620-5650) therefore its break out has to be firstly watched.
Pre-open Outlook(23-11-2012)
All the Asian markets are positive with marginal gains therefore sentiment is quiet today morning. As lower levels supports and higher levels mixed patterns were seen within next resistance range(5620-5650) yesterday therefore Indian markets are not prepared for any side decisive moves and will firstly trade within this range after flat to positive opening today.
Tight range bound market with immediate supports and resistances therefore next moves can be decided after watching of day to day intraday moves and valid break out of any crucial range.Let follow up buying/selling develop and break out of mentioned resistance range happen then strength of Indian markets will be clear because that will be strengthening or weakening of resistances also.
Detailed analysis has already been updated in following topic yesterday:-
Tight range bound market with immediate supports and resistances therefore next moves can be decided after watching of day to day intraday moves and valid break out of any crucial range.Let follow up buying/selling develop and break out of mentioned resistance range happen then strength of Indian markets will be clear because that will be strengthening or weakening of resistances also.
Detailed analysis has already been updated in following topic yesterday:-
Technical Analysis and Market Outlook(23-11-2012)
Nifty-Intra Day Chart (22-Nov-2012):-
Technical Patterns and Formations in today intraday charts
1- Firstly down moves in falling Channel.
2- Consolidation between 5609-5619
3- Mixed Patterns between 632-5642
4- Whole day actual trading between 5609-5642
Nifty traded most time between next resistance range(5620-5650) with intraday consolidation patterns as well as got support also below it today but last more than 1 hour intraday mixed patterns at higher levels therefore follow up consolidation is required for crossing of resistance range(above 5650).
Nifty traded more than 5 hours above 5583 yesterday and today also whole day trading above it therefore sideways market has been extended into 40 sessions within 5549-5815. Supports and resistances between 40 sessions range are as follows:-
1- Supports between 5549-5566.
2- Supports between 5581-5602.
3- Resistances between 5620-5650.
4- Resistances between 5672-5705.
5- Multiple Resistances between 5700-5720/5733/5777/5815
Sufficient and almost equally strong supports and resistances between 40 sessions range(5549-5815). Coming sessions will witness trading within this range and it is confirm that huge more than 10% moves will be seen after sustaining beyond this range. Let Nifty sustain beyond 5549-5815 then next trending moves should be considered and until Nifty is trading within this range till then targets should remain within this range and above mentioned next supports/resistances should also be kept in mind.
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1- Firstly down moves in falling Channel.
2- Consolidation between 5609-5619
3- Mixed Patterns between 632-5642
4- Whole day actual trading between 5609-5642
Conclusions from intra day chart analysis
Nifty traded most time between next resistance range(5620-5650) with intraday consolidation patterns as well as got support also below it today but last more than 1 hour intraday mixed patterns at higher levels therefore follow up consolidation is required for crossing of resistance range(above 5650).
Nifty traded more than 5 hours above 5583 yesterday and today also whole day trading above it therefore sideways market has been extended into 40 sessions within 5549-5815. Supports and resistances between 40 sessions range are as follows:-
1- Supports between 5549-5566.
2- Supports between 5581-5602.
3- Resistances between 5620-5650.
4- Resistances between 5672-5705.
5- Multiple Resistances between 5700-5720/5733/5777/5815
Sufficient and almost equally strong supports and resistances between 40 sessions range(5549-5815). Coming sessions will witness trading within this range and it is confirm that huge more than 10% moves will be seen after sustaining beyond this range. Let Nifty sustain beyond 5549-5815 then next trending moves should be considered and until Nifty is trading within this range till then targets should remain within this range and above mentioned next supports/resistances should also be kept in mind.
Today lower levels confirm consolidation but market is not mature for any side break out. Follow up buying and crossing of next resistances is also required for any decisive up move.
FII & DII trading activity in Capital Market Segment on 22-Nov-2012
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Indian Stock Markets Closing Reports(22-Nov-2012)
1- Benchmark Indices closed in Green with marginal gains.
2- All the Indices closed in Green except CNX AUTO,CNX ENERGY and CNX PSE.
3- Doji Candle formation.
Ratios
Nifty Put Call Ratio: 1.00
Nifty P/E Ratio(22-Nov-2012): 17.61
Advances & Declines
BSE Advances : 1,424
BSE Declines : 1,412
NSE Advances : 880
NSE Declines : 795
Nifty Open Interest Changed Today
Nifty- 5400 CE(Nov)- -8,750(-0.55%)
Nifty- 5400 PE(Nov)- -728,200(-9.05%)
Nifty- 5500 CE(Nov)- -139,550(-7.94%)
Nifty- 5500 PE(Nov)- 431,700(4.95%)
Nifty- 5600 CE(Nov)- -108,700(-2.19%)
Nifty- 5600 PE(Nov)- 1,179,750(16.75%)
Nifty- 5700 CE(Nov)- -32,450(-0.40%)
Nifty- 5700 PE(Nov)- 491,700(14.20%)
Closing
Sensex- closed at 18,517.34(56.96 Points & 0.31%)
Nifty- closed at 5,627.75(12.95 Points & 0.23%)
CNX Midcap - closed at 7,785.45(28.80 Points & 0.37%)
CNX Smallcap- closed at 3,482.75(12.40 Points & 0.36%)
Nifty Spot-Levels & Trading Strategy for 23-11-2012
R3 5679
R2 5661
R1 5644
Avg 5626
S1 5609
S2 5591
S3 5574
Nifty Spot-Trading Strategy
H6 5662 Trgt 2
H5 5654 Trgt 1
H4 5646 Long breakout
H3 5636 Go Short
H2 5633
H1 5630
L1 5623
L2 5620
L3 5617 Long
L4 5607 Short Breakout
L5 5599 Trgt 1
L6 5591 Trgt 2
Nifty(Nov Fut)-Levels & Trading Strategy for 23-11-2012
R3 5703
R2 5680
R1 5660
Avg 5637
S1 5617
S2 5594
S3 5574
Nifty(Nov Fut)-Trading Strategy
H6 5683 Trgt 2
H5 5673 Trgt 1
H4 5663 Long breakout
H3 5651 Go Short
H2 5647
H1 5643
L1 5636
L2 5632
L3 5628 Long
L4 5616 Short Breakout
L5 5606 Trgt 1
L6 5596 Trgt 2
Bank Nifty(Nov Fut)-Levels & Trading Strategy for 23-11-2012
Bank Nifty(Nov Fut)-Levels
R3 11697
R2 11648
R1 11597
Avg 11548
S1 11497
S2 11448
S3 11397
Bank Nifty(Nov Fut)-Trading Strategy
H6 11647 Trgt 2
H5 11624 Trgt 1
H4 11602 Long breakout
H3 11574 Go Short
H2 11565
H1 11556
L1 11537
L2 11528
L3 11519 Long
L4 11492 Short Breakout
L5 11469 Trgt 1
L6 11446 Trgt 2
R3 11697
R2 11648
R1 11597
Avg 11548
S1 11497
S2 11448
S3 11397
Bank Nifty(Nov Fut)-Trading Strategy
H6 11647 Trgt 2
H5 11624 Trgt 1
H4 11602 Long breakout
H3 11574 Go Short
H2 11565
H1 11556
L1 11537
L2 11528
L3 11519 Long
L4 11492 Short Breakout
L5 11469 Trgt 1
L6 11446 Trgt 2
Mid-session Outlook(22-11-2012)
Nifty traded more than 5 hours above 5583 yesterday and today also more than 2 hours trading above it therefore Sideways market has been extended into 40 sesion within 5549-5815. Supports and resistances between 40 sessions range are as follows:-
1- Supports between 5581-5602.
2- Supports between 5549-5566.
3- Resistances between 5620-5650.
4- Resistances between 5672-5705.
5- Multiple Resistances between 5700-5720/5733/5777/5815
As previous 3 sessions consolidation therefore positive moves were expected and were seen also today but trading is between immediate next resistance range(5620-5650) and market slipped from intraday higher levels. As today intraday charts are showing consolidation indication therefore today down moves may be a part of intraday consolidation within resistance range and up moves continuation hopes are alive but break out of mentioned resistance range(5620-5650) should be firstly watched to understand strength of ongoing short term up move.
1- Supports between 5581-5602.
2- Supports between 5549-5566.
3- Resistances between 5620-5650.
4- Resistances between 5672-5705.
5- Multiple Resistances between 5700-5720/5733/5777/5815
As previous 3 sessions consolidation therefore positive moves were expected and were seen also today but trading is between immediate next resistance range(5620-5650) and market slipped from intraday higher levels. As today intraday charts are showing consolidation indication therefore today down moves may be a part of intraday consolidation within resistance range and up moves continuation hopes are alive but break out of mentioned resistance range(5620-5650) should be firstly watched to understand strength of ongoing short term up move.
Technical Analysis and Market Outlook(22-11-2012)
Nifty-Intra Day Chart (21-Nov-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5581-5602
2- Whole day actual trading between 5560-5620
36 Sessions trading range(5583-5815) broken down on 16-11-2012 but its validity confirmation was required through sustaining below 5583. As moves below 5583 were not forceful therefore follow up selling below it was must but Indian markets got supports and consolidated on 19-11-2012. As soon as Indian markets got support and started consolidation then it was updated on 19-11-2012 and following lines were told:-
1- In Mid-session Outlook:- "emergence of consolidation paterns formations and expectation of small up moves from here"
2- In Pre-Closing Outlook:- "Although Nifty traded most time in negative zone and now trading also near today lower levels but with intraday consolidation patterns formations therefore up moves expectations are alive"
Resultant up moves with intraday consolidation between 5581-5602 and closing above 5583 was seen yesterday as well as broken down on 16-11-2012 proved false. Indian markets are not trending and sideways for the last 2 months therefore now up moves will be seen within mentioned 36 Sessions trading range. As multiple and strong resistances therefore upmoves will be slow and after complete consolidation.
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| Just click on chart for its enlarged view |
1- Consolidation between 5581-5602
2- Whole day actual trading between 5560-5620
Conclusions from intra day chart analysis
36 Sessions trading range(5583-5815) broken down on 16-11-2012 but its validity confirmation was required through sustaining below 5583. As moves below 5583 were not forceful therefore follow up selling below it was must but Indian markets got supports and consolidated on 19-11-2012. As soon as Indian markets got support and started consolidation then it was updated on 19-11-2012 and following lines were told:-
1- In Mid-session Outlook:- "emergence of consolidation paterns formations and expectation of small up moves from here"
2- In Pre-Closing Outlook:- "Although Nifty traded most time in negative zone and now trading also near today lower levels but with intraday consolidation patterns formations therefore up moves expectations are alive"
Resultant up moves with intraday consolidation between 5581-5602 and closing above 5583 was seen yesterday as well as broken down on 16-11-2012 proved false. Indian markets are not trending and sideways for the last 2 months therefore now up moves will be seen within mentioned 36 Sessions trading range. As multiple and strong resistances therefore upmoves will be slow and after complete consolidation.
FII & DII trading activity in Capital Market Segment on 21-Nov-2012
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Indian Stock Markets Closing Reports(21-Nov-2012)
1- All the Indices closed in Green except CNX AUTO and CNX PSE.
2- Whole day up moves after almost flat opening.
3- White Candle formation.
Ratios
Nifty Put Call Ratio: 1.05
Nifty P/E Ratio(21-Nov-2012): 17.56
Advances & Declines
BSE Advances : 1,478
BSE Declines : 1,381
NSE Advances : 845
NSE Declines : 818
Nifty Open Interest Changed Today
Nifty- 5400 CE(Nov)- -17,800(-1.11%)
Nifty- 5400 PE(Nov)- 529,300(7.04%)
Nifty- 5500 CE(Nov)- -9,500(-0.54%)
Nifty- 5500 PE(Nov)- 1,725,100(24.66%)
Nifty- 5600 CE(Nov)- -481,950(-8.85%)
Nifty- 5600 PE(Nov)- 1,255,900(21.69%)
Nifty- 5700 CE(Nov)- -127,050(-1.54%)
Nifty- 5700 PE(Nov)- -41,200(-1.18%)
Closing
Sensex- closed at 18,460.38(131.06 Points & 0.72%)
Nifty- closed at 5,614.80(43.25 Points & 0.78%)
CNX Midcap - closed at 7,756.65(42.85 Points & 0.56%)
CNX Smallcap- closed at 3,470.35(15.55 Points & 0.45%)
Nifty Spot-Levels & Trading Strategy for 22-11-2012
R3 5694
R2 5657
R1 5635
Avg 5598
S1 5576
S2 5539
S3 5517
Nifty Spot-Trading Strategy
H6 5673 Trgt 2
H5 5660 Trgt 1
H4 5646 Long breakout
H3 5630 Go Short
H2 5624
H1 5619
L1 5608
L2 5603
L3 5597 Long
L4 5581 Short Breakout
L5 5568 Trgt 1
L6 5554 Trgt 2
Nifty(Nov Fut)-Levels & Trading Strategy for 22-11-2012
Nifty(Nov Fut)-Levels
R2 5665
R1 5643
Avg 5606
S1 5584
S2 5547
S3 5525
Nifty(Nov Fut)-Trading Strategy
H6 5681 Trgt 2
H5 5668 Trgt 1
H4 5654 Long breakout
H3 5638 Go Short
H2 5632
H1 5627
L1 5616
L2 5611
L3 5605 Long
L4 5589 Short Breakout
L5 5576 Trgt 1
L6 5562 Trgt 2
Bank Nifty(Nov Fut)-Levels & Trading Strategy for 22-11-2012
R3 11716
R2 11607
R1 11544
Avg 11435
S1 11372
S2 11263
S3 11200
Bank Nifty(Nov Fut)-Trading Strategy
H6 11656 Trgt 2
H5 11616 Trgt 1
H4 11576 Long breakout
H3 11529 Go Short
H2 11513
H1 11497
L1 11466
L2 11450
L3 11434 Long
L4 11387 Short Breakout
L5 11347 Trgt 1
L6 11307 Trgt 2
Technical Analysis and Market Outlook(21-11-2012)
Nifty-Intra Day Chart (Nov 19 & Nov 20,2012):-
Technical Patterns and Formations in last 2 Sessions intraday charts
1- Consolidation between 5550-5566 in last 2 sessions.
2- Selling between 5582-5602 today.
36 Sessions trading range(5583-5815) broken down on 16-11-2012 but its validity confirmation is required through sustaining below 5583. As moves below 5583 were not forceful therefore follow up selling below it was must but only today intraday charts showed selling while last 2 sessions intraday charts are signalling consolidation formations also.
Although last 3 sessions closing below 5583 but more follow up selling and sustaining below last 3 sessions lowest(5349) is also required because consolidation seen above it in last 2 sessions. As good selling and multiple resistances between 5583-5815 therefore complete consolidation is required for any decisive up move but follow up selling in the coming sessions will mean deeper correction.
It is confirm that huge fall will be seen after 36 Sessions trading range breaking down confirmation because that will be Wave-4 deeper correction confirmation and firstly it should be watched in the coming sessions through:-
1- Sustaining below 5549 or
2- Forceful breaking down of 5549.
As last 2 sessions most time trading between 5549-5602 with both higher levels selling and lower levels good consolidation also therefore follow up buying/selling and sustaining beyond mentioned range will mean:-
1- Sustaining below 5549 will mean sharp and deep down moves.
2- Sustaining above 5602 will mean reentering into 36 sessions range bound market but multiple strong resistances upto 5777 therefore up moves will be slow and after complete consolidation.
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| Just click on chart for its enlarged view |
1- Consolidation between 5550-5566 in last 2 sessions.
2- Selling between 5582-5602 today.
Conclusions from 2 Sessions intra day chart analysis
36 Sessions trading range(5583-5815) broken down on 16-11-2012 but its validity confirmation is required through sustaining below 5583. As moves below 5583 were not forceful therefore follow up selling below it was must but only today intraday charts showed selling while last 2 sessions intraday charts are signalling consolidation formations also.
Although last 3 sessions closing below 5583 but more follow up selling and sustaining below last 3 sessions lowest(5349) is also required because consolidation seen above it in last 2 sessions. As good selling and multiple resistances between 5583-5815 therefore complete consolidation is required for any decisive up move but follow up selling in the coming sessions will mean deeper correction.
It is confirm that huge fall will be seen after 36 Sessions trading range breaking down confirmation because that will be Wave-4 deeper correction confirmation and firstly it should be watched in the coming sessions through:-
1- Sustaining below 5549 or
2- Forceful breaking down of 5549.
As last 2 sessions most time trading between 5549-5602 with both higher levels selling and lower levels good consolidation also therefore follow up buying/selling and sustaining beyond mentioned range will mean:-
1- Sustaining below 5549 will mean sharp and deep down moves.
2- Sustaining above 5602 will mean reentering into 36 sessions range bound market but multiple strong resistances upto 5777 therefore up moves will be slow and after complete consolidation.
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