Bank Nifty(Jan Fut)-Levels &; Trading Strategy for 11-01-2013

Bank Nifty(Jan Fut)-Levels

R3 13026

R2 12957

R1 12912

Avg 12843

S1 12798

S2 12729

S3 12684

Bank Nifty(Jan Fut)-Trading Strategy

H6 12981     Trgt 2 

H5 12955     Trgt 1

H4 12929     Long breakout 

H3 12898     Go Short 

H2 12887

H1 12877

L1 12856

L2 12846

L3 12835     Long 

L4 12804     Short Breakout 

L5 12778     Trgt 1 

L6 12752     Trgt 2

NIFTY-Jan F&O-Buying Trade

NIFTY-Jan Fut-Buy at CMP and/or Jan Call Options(6000)-Buy at CMP-5993- SL and TGT will be given tomorrow 

Pre-Closing Outlook-3(10-01-2013)

As per our views negative news of Diesel and LPG price hike was falsely created by Business News Channel for the formation of fear psychology and selling by small traders as well as buying of Big Operators therefore we were not Bearish and when Indian markets were near the lowest of the day then we told following line in Pre-Closing Outlook(10-01-2013):-

Finally sustaining beyond 5965 will be firstly watched for next trend confirmation despite today lowest at 5,947.30.

3 Bullish Falling Channel formation today and until Nifty will not sustain below 5965 till then our view will not be Bearish despite as per Elliot Wave Theory Nifty should not close below 5965 for the continuation of on going rally(impulsive Wave). 

Pre-Closing Outlook-2(10-01-2013)

Although last more than 1 hour trading below 5965 but today intraday charts are showing 3 Bullish Falling Channel formation therefore view is not Bearish yet.

Pre-Closing Outlook(10-01-2013)

Following 2 mixed developments today:-

1 Although Business News Channel told continuously for Diesel and LPG price hike today but finally no discussion on Fuel price hike in Cabinet meeting today.
2- Higher levels selling but Bullish Falling Channel formation also in today intraday charts. 

As technical positions changes sharply in today like contradictory news led markets therefore Nifty again slipped below most crucial and next up trend deciding level(5965) today and closing it beyond today will be next trend confirmation also.

As last 3 sessions news led volatile markets and tomorrow INFY 3rd Quarter financial results as well as IIP numbers announcement also therefore high volatile markets. Finally sustaining beyond 5965 will be firstly watched for next trend confirmation despite today lowest at 5,947.30.

Fuel price hike news led Down Moves today

As Fuel price hike news on Business News Channels therefore sentiment weakened and Indian markets slipped after higher levels selling today. Intraday down moves of today are again negative news generated but Indian markets are showing Bullish Falling Channel formation also therefore rally continuation above 6026 hopes are very much alive.

As continuous 2 days market is negative news led and tomorrow INFY Quaterly financial results as well as IIP numbers announcement also therefore high volatility can not be ruled out and trading should be done with strict Stop Loss. Although expected that finally rally will be seen above 6026 after follow up consolidations but sustaining beyond 5965 should also be firstly watched for next trend confirmation.

Mid-session Outlook(10-01-2013)

Although strong opening today but selling development at intraday higher levels and under performance than Global markets also. Most crucial level for deciding next trend is 5965 and sustaining it beyond should be firstly watched now for next trend confirmation. 

Post-open Outlook-2(10-01-2013)

Again selling seen today and view is cautious,sustaining beyond 5965 should be firstly watched today for next trend confirmation. 

Post-open Outlook(10-01-2013)

Although sharp fall in last hour yesterday but we told following conclusive lines yesterday in Sideways market between 5965-6026 on 10-01-2013:-

1- today last hour fall was only negative news led panic bottom formation
2-  Until Nifty will not give 100% confirmation of sustaining below 5965 till then any down move will not be considered
3- rally continuation above 5965 will be expected.

Nifty is trading between strong resistance range(6000-6026) after positive opening but complete consolidation is required for decisive break out above 6026 and also expected that 

finally break out above 6026 will be seen within couple of sessions after follow up consolidations. 

Sideways market between 5965-6026 on 10-01-2013

Nifty-Intra Day Chart (Jan 02 to Jan 092013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 6 Sessions intraday charts

1- Buying between 5965-5995 in last 6 sesions.
2- Selling between 6000-6026 in last 6 sesions.
3- 6 Sessions actual trading between 5960-6026.

Conclusions from 6 Sessions intra day chart analysis 

Long and Intermediate term trends are up and Short term trend is sideways for the last 6 sessions between 5960-6026 with both higher levels selling and lower levels buying. Sharp fall in last hour today but before that Rising Wedge Bearish formation was seen and as soon as we got Bearish pattern formation confirmation then immediately cautioned in Mid-session Outlook-2(09-01-2013) and told following line:-

Rising Wedge Bearish formation in last 40 minutes therefore view turned cautious

Importance of 5965 has already been updated in following topic on 07-01-2013

5965 is most Crucial for Bulls on 08-01-2013

Nifty moved below 5965 in last 2 sessions and its today break down was negative news of Rail tariff rise generated and closing was above 5965 in both sessions also therefore no breaking down confirmation and sideways market continuation between 5960-6026.

As per our view today last hour fall was only negative news led panic bottom formation. Until Nifty will not give 100% confirmation of sustaining below 5965 till then any down move will not be considered and rally continuation above 5965 will be expected.

Sideways market and next moves preparation between 5965-6026 will be seen on 10-01-2013.

FII Trading Data in Derivatives Segment on 09-Jan-2013

FII & DII trading activity in Capital Market Segment on 09-Jan-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 09-Jan-2013 3784.62 2935.67 848.95

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 09-Jan-2013 1111.15 1629.45 -518.3

Indian Stock Markets Closing Reports(09-Jan-2013)

Main features of today trading are as follows

1- Benchmark Indices closed in Red.

2- Negative news led sharp fall in last hour.

3- Long Black candle formation.

Ratios

Index Options Put Call Ratio: 0.90

Total Options Put Call Ratio: 0.85

Nifty P/E Ratio(09-Jan-2013): 18.78

Advances & Declines

BSE Advances : 1,386

BSE Declines : 1,589 

NSE Advances :   733

NSE Declines : 1,029 

Nifty Open Interest Changed Today

Nifty- 5800 CE(Jan)- -5,950(-0.59%)

Nifty- 5800 PE(Jan)-  59,400(0.84%)

Nifty- 5900 CE(Jan)- -40,650(-1.87%)

Nifty- 5900 PE(Jan)-  222,500(3.50%)

Nifty- 5000 CE(Jan)-  67,300 (1.45%)

Nifty- 5000 PE(Jan)- -362,300(-7.46%)

Nifty- 6100 CE(Jan)-  621,750(10.78%)

Nifty- 6100 PE(Jan)-  -84,400(-4.63%)

Closing 

Sensex- closed at 19,666.59(-75.93 Points & -0.38%)

Nifty- closed at 5,971.50(-30.20 Points & -0.50%)

CNX Midcap - closed at 8,742.05(-49.00 Points & -0.56%)

CNX Smallcap- closed at 3,862.15(-18.60 Points & -0.48%)

Nifty Spot-Levels & Trading Strategy for 10-01-2013

Nifty Spot-Levels

R3 6070

R2 6045

R1 6008

Avg 5983

S1 5946

S2 5921

S3 5884

Nifty Spot-Trading Strategy

H6 6033     Trgt 2 

H5 6019     Trgt 1

H4 6005     Long breakout 

H3 5988     Go Short 

H2 5982

H1 5976

L1 5965

L2 5959

L3 5953     Long 

L4 5936     Short Breakout 

L5 5922     Trgt 1 

L6 5908     Trgt 2

Nifty(Jan Fut)-Levels & Trading Strategy for 10-01-2013

Nifty(Jan Fut)-Levels

R3 6104

R2 6076

R1 6037

Avg 6009

S1 5970

S2 5942

S3 5903

Nifty(Jan Fut)-Trading Strategy

H6  6065    Trgt 2 

H5  6050    Trgt 1

H4  6034    Long breakout 

H3  6016    Go Short 

H2  6010

H1  6004

L1  5991

L2  5985

L3  5979    Long 

L4  5961    Short Breakout 

L5  5945    Trgt 1 

L6  5930    Trgt 2

Bank Nifty(Jan Fut)-Levels & Trading Strategy for 10-01-2013

Bank Nifty(Jan Fut)-Levels

R3 12971

R2 12920

R1 12846

Avg 12795

S1 12721

S2 12670

S3 12596

Bank Nifty(Jan Fut)-Trading Strategy

H6 12897     Trgt 2 

H5 12869     Trgt 1

H4 12840     Long breakout 

H3 12806     Go Short 

H2 12794

H1 12783

L1 12760

L2 12749

L3 12737     Long 

L4 12703     Short Breakout 

L5 12674     Trgt 1 

L6 12646     Trgt 2

Pre-Closing Outlook-2(09-01-2013)

As per Business Channels that huge rise Rail tariff may be announced by Railway Minister today therefore sharp fall seen in Indian markets.

Rising Wedge Bearish formation was updated well in advance by us. Although Nifty slipped below 5965 but today down moves are negative news generated therefore sustaining below 5965 will be firstly watched tomorrow for down trend confirmation.

Pre-Closing Outlook(09-01-2013)

As soon as Rising Wedge Bearish formation was seen then it was immediately updated and Nifty slipped after that as well as formed new intraday lows. As 5 Sessions trading between 5965-6026 with mixed intraday patterns(Higher levels selling and lower levels) therefore following lines were told in almost all previous Outlooks and being repeated:-

Strong resistance formation between 6000-6026 therefore complete consolidation is required for decisive rally above 6026 and sustaining beyond 5965-6026 will be firstly watched now for next moves confirmations.

Mid-session Outlook-2(09-01-2013)

Although Nifty recovered from lower levels and traded again above 6000 also but development of Rising Wedge Bearish formation in last 40 minutes therefore view turned cautious and sustaining beyond 5965-6026 will be firstly watched now for next moves confirmations because mixed intraday patterns seen today.

Mid-session Outlook(09-01-2013)

Firstly emergence of consolidation indications and then minor up moves also seen but not sustaining at higher levels and loosing of all intraday gains as well as now trading near today intraday lower levels below 6000 but up moves continuation hopes above 6026 is still alive after follow up complete consolidations firstly between 5974-6000 and after that between 6000-6026.

Now next trend confirmation range is 5965-6026.

Post-open Outlook-2(09-01-2013)

As good selling and strong resistance formation between 6000-6026 in previous 4 sessions therefore complete consolidation is required for decisive rally above 6026. Nifty is trading within mentioned resistance range between 6006-6015 and preparing for next moves. As emergence of consolidation indications therefore hopes of rally above 6026 turned alive but valid break out of 6000-6026 should also be watched for next immediate moves confirmation.