Trading between next resistance range(5935-5965) after gap up opening but under performing Global cues today therefore mentioned resistance range has to be firstly watched.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Rally Continuation after correction completion
Nifty-Intra Day Chart (18-Dec-2012):-
Technical Patterns and Formations in intraday chart
1- Panic bottom formation after RBI Credit policy.
2- Consolidation between 5880-5905
3- Whole day actual trading between 5824-5905
As intraday consolidation patterns formations after panic bottom formation seen therefore following conclusive lines were told yesterday in Pre-Closing Outlook(18-12-2012) and being repeated for today market:-
Long term and Intermediate term trends are up and short Term sideways correction going on between 5823-5965 for the last 12 sessions. As correction completion strong indication after panic Bottom formation today therefore now possibility of rally continuation after today short Term correction completion,confirmation will be sustaining above 5920.
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1- Panic bottom formation after RBI Credit policy.
2- Consolidation between 5880-5905
3- Whole day actual trading between 5824-5905
Technical Patterns and Formations in intraday chart
As intraday consolidation patterns formations after panic bottom formation seen therefore following conclusive lines were told yesterday in Pre-Closing Outlook(18-12-2012) and being repeated for today market:-
Long term and Intermediate term trends are up and short Term sideways correction going on between 5823-5965 for the last 12 sessions. As correction completion strong indication after panic Bottom formation today therefore now possibility of rally continuation after today short Term correction completion,confirmation will be sustaining above 5920.
Nifty Spot-Levels & Trading Strategy for 19-12-2012
R3 6008
R2 5956
R1 5926
Avg 5874
S1 5844
S2 5792
S3 5762
Nifty Spot-Trading Strategy
H6 5979 Trgt 2
H5 5960 Trgt 1
H4 5941 Long breakout
H3 5918 Go Short
H2 5910
H1 5903
L1 5888
L2 5880
L3 5873 Long
L4 5850 Short Breakout
L5 5831 Trgt 1
L6 5812 Trgt 2
Nifty(Dec Fut)-Levels & Trading Strategy for 19-12-2012
R3 6084
R2 6017
R1 5972
Avg 5905
S1 5860
S2 5793
S3 5748
Nifty(Dec Fut)-Trading Strategy
H6 6041 Trgt 2
H5 6016 Trgt 1
H4 5990 Long breakout
H3 5959 Go Short
H2 5948
H1 5938
L1 5917
L2 5907
L3 5896 Long
L4 5865 Short Breakout
L5 5839 Trgt 1
L6 5814 Trgt 2
Bank Nifty(Dec Fut)-Levels & Trading Strategy for 19-12-2012
R3 13031
R2 12815
R1 12682
Avg 12466
S1 12333
S2 12117
S3 11984
Bank Nifty(Dec Fut)-Trading Strategy
H6 12906 Trgt 2
H5 12825 Trgt 1
H4 12744 Long breakout
H3 12646 Go Short
H2 12613
H1 12581
L1 12516
L2 12484
L3 12451 Long
L4 12353 Short Breakout
L5 12272 Trgt 1
L6 12191 Trgt 2
Pre-Closing Outlook(18-12-2012)
Strong recovery after panic bottom completion at 5,823.15 and after that intraday consolidation patterns formations as well. Trading above next 1st resistance(5885) but follow up consolidations are required for sustaining above next crucial resistance(5920)
Long term and Intermediate term trends are up and short Term sideways correction going on between 5823-5965 for the last 12 sessions. As correction completion strong indication after panic Bottom formation today therefore now possibility of rally continuation after today short Term correction completion,confirmation will be sustaining above 5920.
Long term and Intermediate term trends are up and short Term sideways correction going on between 5823-5965 for the last 12 sessions. As correction completion strong indication after panic Bottom formation today therefore now possibility of rally continuation after today short Term correction completion,confirmation will be sustaining above 5920.
Mid-session Outlook(18-12-2012)
Although down moves seen today but its possibility was told in all the previous 3 Outlooks of yesterday and today. One down move was expected and it was seen today and support of 5839 has also been tested.
Today news based volatile market with sharp recovery from lower levels also. Nifty is range bound between 5839-5962 for the last 12 sessions and today support at lower levels. Following resistances should be firstly watched now for next rally after correction completion confirmations:-
1- 5885
2- 5920
Today news based volatile market with sharp recovery from lower levels also. Nifty is range bound between 5839-5962 for the last 12 sessions and today support at lower levels. Following resistances should be firstly watched now for next rally after correction completion confirmations:-
1- 5885
2- 5920
NIFTY-Dec Put Option(5900)-1st Positional BUYing of 17-12-2012-Covering
NIFTY-Dec Put Option(5900)-Positional Bought on 17-12-2012-Cover and book profit immediately-CMP-78(Lalit39)
Technical Analysis and Market Outlook(18-12-2012)
Nifty-Intra Day Chart (17-Dec-2012):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves with continuous selling.
2- Whole day actual trading between 5850-5885.
Pre-open Outlook(18-12-2012)
Most Asian markets are positive today after good rally in US markets yesterday and positive opening will be seen in Indian markets. As selling yesterday therefore expected that Nifty will firstly hover around yesterday trading range(5850-5886). RBI Credit policy will finally drive Indian markets and up moves will be seen only after any surprising positive announcements otherwise Indian markets are technically prepared for some more down moves.
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1- Whole day down moves with continuous selling.
2- Whole day actual trading between 5850-5885.
Conclusions from intra day chart analysis
As Whole day down moves after continuous selling therefore down moves are expected.
Pre-open Outlook(18-12-2012)
Most Asian markets are positive today after good rally in US markets yesterday and positive opening will be seen in Indian markets. As selling yesterday therefore expected that Nifty will firstly hover around yesterday trading range(5850-5886). RBI Credit policy will finally drive Indian markets and up moves will be seen only after any surprising positive announcements otherwise Indian markets are technically prepared for some more down moves.
FII & DII trading activity in Capital Market Segment on 17-Dec-2012
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Indian Stock Markets Closing Reports(17-Dec-2012)
1- Benchmark Indices closed in Red.
2- Midcap and Smallcap closed in Green.
3- Black Candle formation.
Ratios
Index Options Put Call Ratio: 0.97
Total Options Put Call Ratio: 0.91
Nifty P/E Ratio(17-Dec-2012): 18.18
Advances & Declines
BSE Advances : 1,524
BSE Declines : 1,374
NSE Advances : 940
NSE Declines : 784
Nifty Open Interest Changed Today
Nifty- 5700 CE(Dec)- 178,300(-12.49%)
Nifty- 5700 PE(Dec)- 146,750(2.14%)
Nifty- 5800 CE(Dec)- 123,700(4.00%)
Nifty- 5800 PE(Dec)- 145,350(1.59%)
Nifty- 5900 CE(Dec)- 603,200(9.52%)
Nifty- 5900 PE(Dec)- -278,600(-4.49%)
Nifty- 6000 CE(Dec)- 986,600(8.77%)
Nifty- 6000 PE(Dec)- -115,150(-4.14%)
Closing
Sensex- closed at 19,244.42(-72.83 Points & -0.38%)
Nifty- closed at 5,857.90(-21.70 Points & -0.37%)
CNX Midcap - closed at 8,382.70(20.95 Points & 0.25%)
CNX Smallcap- closed at 3,690.50(22.95 Points & 0.63%)
Nifty Spot-Levels & Trading Strategy for 18-12-2012
R3 5914
R2 5900
R1 5878
Avg 5864
S1 5842
S2 5828
S3 5806
Nifty Spot-Trading Strategy
H6 5893 Trgt 2
H5 5884 Trgt 1
H4 5876 Long breakout
H3 5866 Go Short
H2 5863
H1 5860
L1 5853
L2 5850
L3 5847 Long
L4 5837 Short Breakout
L5 5829 Trgt 1
L6 5820 Trgt 2
Nifty(Dec Fut)-Levels & Trading Strategy for 18-12-2012
R3 5929
R2 5918
R1 5903
Avg 5892
S1 5877
S2 5866
S3 5851
Nifty(Dec Fut)-Trading Strategy
H6 5915 Trgt 2
H5 5909 Trgt 1
H4 5903 Long breakout
H3 5896 Go Short
H2 5893
H1 5891
L1 5886
L2 5884
L3 5881 Long
L4 5874 Short Breakout
L5 5868 Trgt 1
L6 5862 Trgt 2
Bank Nifty(Dec Fut)-Levels & Trading Strategy for 18-12-2012
R3 12594
R2 12563
R1 12526
Avg 12495
S1 12458
S2 12427
S3 12390
Bank Nifty(Dec Fut)-Trading Strategy
H6 12558 Trgt 2
H5 12542 Trgt 1
H4 12527 Long breakout
H3 12508 Go Short
H2 12502
H1 12496
L1 12483
L2 12477
L3 12471 Long
L4 12452 Short Breakout
L5 12437 Trgt 1
L6 12421 Trgt 2
NIFTY-Dec Put Option-1st Buying of 17-12-2012-Trade
NIFTY-Dec Put Option(5900)-Buy-Positional-SL-39-TGT-84-CMP-58
Mid-session Outlook(17-12-2012)
Resistances development was clearly told on 15-12-2012 in "Rally after Follow Up Consolidations"
"resistances development also in last 10 sessions and extreme heated sentiment formations due to positive announcements from Indian Government"
Resistances development with its formation reasons was also clearly told and resultant Red zone trading today.
Intraday selling formations seen between 5880-5885 today and was also updated at 10:38 AM. Nifty could not trade above 5880 after mentioned posting and follow up selling seen today therefore down moves are expected.
"resistances development also in last 10 sessions and extreme heated sentiment formations due to positive announcements from Indian Government"
Resistances development with its formation reasons was also clearly told and resultant Red zone trading today.
Intraday selling formations seen between 5880-5885 today and was also updated at 10:38 AM. Nifty could not trade above 5880 after mentioned posting and follow up selling seen today therefore down moves are expected.
Rally after Follow Up Consolidations
Nifty-EOD Chart (14-Dec-2012):-
Technical Patterns and Formations in EOD charts
1- Wave-2 completion(4770.35 on 04-06-2012)
2- Sub Wave-1 gained 578.20 points(5348.55 on 10-07-2012)
3- Sub Wave-2(5032.40 on 26-07-2012)
4- Sub Wave-3 gained 782.95 points(5815.35 on 05-10-2012)
5- 44 Sessions sideways Sub Wave-4 correction between 5549-5815 with Bullish Flag formation.
6- Sub Wave-4 completion at 5548.35 on 20-11-2012)
7- Sub Wave-5 of Wave-3 continuation.
8- Last 10 sessions sideways trading between 5839-5962
Technical Patterns and Formations in last 10 Sessions intraday charts
1- Support between 5839-5860
2- Resistance between 5932-5962
3- 10 Sessions actual trading between 5839-5962
All trends are up and Sub Wave-5 of Wave-3 continuation after completion of 44 sessions Sub Wave-4 sideways correction between 5549-5815. Although 44 sessions trading range broken out forcefully on 29-11-2012 but market again turned sideways between 5839-5962 which is just above the top(5815) of Sub Wave-4 sideways trading range.
As Sub Wave-4 corrected with Bullish Flag formation therefore finally strong Sub Wave-5 rally will be seen but follow up consolidation is required to cross last 10 sessions higher levels resistances. As strong supports also developed at lower levels(above 5839) in last 10 sessions therefore expected that finally Sub Wave-5 rally will remain continued after follow up consolidation.
Indian markets are not prepared for any side decisive moves because development of both supports and resistances in last 10 sessions therefore Nifty will firstly trade as well as prepare for next moves between 5839-5962 in the coming week. Expected that finally Sub Wave-5 rally will remain continued after follow up consolidations but valid break out of last 10 sessions range(5839-5962) must be firstly watched for next moves confirmations because resistances development also in last 10 sessions and extreme heated sentiment formations due to positive announcements from Indian Government.
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1- Wave-2 completion(4770.35 on 04-06-2012)
2- Sub Wave-1 gained 578.20 points(5348.55 on 10-07-2012)
3- Sub Wave-2(5032.40 on 26-07-2012)
4- Sub Wave-3 gained 782.95 points(5815.35 on 05-10-2012)
5- 44 Sessions sideways Sub Wave-4 correction between 5549-5815 with Bullish Flag formation.
6- Sub Wave-4 completion at 5548.35 on 20-11-2012)
7- Sub Wave-5 of Wave-3 continuation.
8- Last 10 sessions sideways trading between 5839-5962
Nifty-Micro Analysis of 10 Sessions Intra Day Chart
(Dec 17 to Dec 21,2012)
Nifty-Intra Day Chart (Dec 17 to Dec 21,2012):- |
| Just click on chart for its enlarged view |
1- Support between 5839-5860
2- Resistance between 5932-5962
3- 10 Sessions actual trading between 5839-5962
Conclusions (After Putting All Studies Together)
All trends are up and Sub Wave-5 of Wave-3 continuation after completion of 44 sessions Sub Wave-4 sideways correction between 5549-5815. Although 44 sessions trading range broken out forcefully on 29-11-2012 but market again turned sideways between 5839-5962 which is just above the top(5815) of Sub Wave-4 sideways trading range.
As Sub Wave-4 corrected with Bullish Flag formation therefore finally strong Sub Wave-5 rally will be seen but follow up consolidation is required to cross last 10 sessions higher levels resistances. As strong supports also developed at lower levels(above 5839) in last 10 sessions therefore expected that finally Sub Wave-5 rally will remain continued after follow up consolidation.
Indian markets are not prepared for any side decisive moves because development of both supports and resistances in last 10 sessions therefore Nifty will firstly trade as well as prepare for next moves between 5839-5962 in the coming week. Expected that finally Sub Wave-5 rally will remain continued after follow up consolidations but valid break out of last 10 sessions range(5839-5962) must be firstly watched for next moves confirmations because resistances development also in last 10 sessions and extreme heated sentiment formations due to positive announcements from Indian Government.
FII & DII trading activity in Capital Market Segment on 14-Dec-2012
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