First 4 hours consolidation patterns and last 1 hour Bearish Rising Wedge formation therefore mixed intraday patterns formations and today trading range(5883-5915) valid break out shold be firstly watched tomorrow for next moves confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook-3(11-02-2013)
4 hours trading between 5883-5910 with lower levels supports and consolidations patterns but complete consolidations is required for any decisive up move because multiple resistances at higher levels. As supports and consolidations seen near about 38.2% retracement level(5895) today therefore Short Term up moves expectations turned alive but firstly sustaining above 5910(today trading range high) and after that 5984(resistance) is must for any decisive up move confirmation. As correction is already on and fresh selling will mean fast down moves toward next 50.0% retracement level(5829).
For next move confirmation firstly valid break out of 5883-5910 should be watched.
Mid-session Outlook-2(11-02-2013)
As intraday supports with consolidations patterns indications near about 38.2% retracement level(5895) therefore up moves expectations turned alive from here but complete consolidations is required because multiple resistances at higher levels and sustaining above 5905 will be Short Term Up move confirmation.
Mid-session Outlook(11-02-2013)
Although most time negative zone trading with continuous new intraday lows formations but intraday consolidations patterns indications also therefore up moves expectations are still alive.
Post-open Outlook(11-02-2013)
Nifty is hovering around 38.2% retracement level(5895) and follow up positions near it about will tell about correction continuation toward 50.0% retracement level(5829) or up moves after complete consolidations because multiple resistances at higher levels.
Today first hour trading between 5893-5905 with intraday consolidations patterns indications and expected that Nifty will trade some more time near about this range. Let market prepare for next moves then will be updated according to intraday charts formations and it should be kept in mind that down moves will be sharp but up moves will be slow up to 5984.
Today first hour trading between 5893-5905 with intraday consolidations patterns indications and expected that Nifty will trade some more time near about this range. Let market prepare for next moves then will be updated according to intraday charts formations and it should be kept in mind that down moves will be sharp but up moves will be slow up to 5984.
Pre-open Outlook(11-02-2013)
All the Asian markets are closed today therefore Indian markets will take sentiment from US markets which closed positive last Friday. Short term Indicators are oversold after previous week sharp fall and resistances between 5930-5984 therefore fresh consolidation is required for sustaining above mentioned range and market will take complete time to complete consolidation process.
Pre-Budget Rally after Correction Completion
Technical Analysis,Research & Weekly Outlook
(Feb 11 to Feb 15,2013)
Nifty-EOD Chart (08-Feb-2013):- |
| Just click on chart for its enlarged view |
1- 4531.15 on 20-12-2011(Rally beginning after 13 Months correction completion)
2- Wave-1(5629.95 on 22-02-2012)
3- Wave-2(4770.35 on 04-06-2012)
4- Wave-3 continuation(4770.35 on 04-06-2012)
5- Sub Wave-1 gained 578.20 points(5348.55 on 10-07-2012)
6- Sub Wave-2(5032.40 on 26-07-2012)
7- Sub Wave-3 gained 782.95 points(5815.35 on 05-10-2012)
8- Sub Wave-4(5548.35 on 20-11-2012)
9- Sub Wave-5(6111.80 on 29-01-2013)
Conclusions from EOD chart analysis
Correction continuation after Sub Wave-5 completion and its recent bottom formation at 5883.65 on 08-02-2013. Sub-Wave-5 started from 5548 and completed at 6111 and its Fibonacci retracement levels are as follows:-
38.2%- 5895
50.0%- 5829
61.8%- 5763
38.2%(5895) retracement has been completed on 08-02-2013 but closing was above it at 5903.50 and slipping below it will mean testing possibility of next support at 5823 as well as next retracement level at 5829.
As strong supports(5823)are lying near 50 %(5829) retracement levels therefore high possibility of correction completion and up moves beginning from near about these levels and will be certainly considered if intraday charts will start to show consolidations there. Expected that consolidation will start near about 5823 or above it in next week and Pre-Budget Rally will commence after on going correction completion.
FII & DII trading activity in Capital Market Segment on 08-Feb-2013
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Indian Stock Markets Closing Reports(08-Feb-2013)
1- All the Indices closed in Red except CNX INFRA and CNX IT.
2- Closing at the lowest of the day.
3- Black Candle formation.
Ratios
Index Options Put Call Ratio: 0.96
Total Options Put Call Ratio: 0.90
Nifty P/E Ratio(08-Feb-2013): 17.75
Advances & Declines
BSE Advances : 1,005
BSE Declines : 1,837
NSE Advances : 449
NSE Declines : 1,077
Nifty Open Interest Changed Today
Nifty- 5700 CE(Feb)- -6,650(-2.20%)
Nifty- 5700 PE(Feb)- -344,600(-5.58%)
Nifty- 5800 CE(Feb)- 147,200(28.96%)
Nifty- 5800 PE(Feb)- 736,300(%)
Nifty- 5900 CE(Feb)- 648,450(40.99%)
Nifty- 5900 PE(Feb)- 1,055,450(17.36%)
Nifty- 6000 CE(Feb)- 885,350(18.89%)
Nifty- 6000 PE(Feb)- -213,400(-5.01%)
Nifty- 6100 CE(Feb)- 268,550(3.61%)
Nifty- 6100 PE(Feb)- -57,150(-3.31%)
Closing
Sensex- closed at 19,484.77(-95.55 Points & -0.49%)
Nifty- closed at 5,903.50(-35.30 Points & -0.59%)
CNX Midcap - closed at 8,109.45(-62.35 Points & -0.76%)
CNX Smallcap- closed at 3,502.20(-32.60 Points & -0.92%)
Nifty Spot-Levels & Trading Strategy for 11-02-2013
R3 6013
R2 5983
R1 5943
Avg 5913
S1 5873
S2 5843
S3 5803
Nifty Spot-Trading Strategy
H6 5973 Trgt 2
H5 5957 Trgt 1
H4 5941 Long breakout
H3 5922 Go Short
H2 5915
H1 5909
L1 5896
L2 5890
L3 5883 Long
L4 5864 Short Breakout
L5 5848 Trgt 1
L6 5832 Trgt 2
Nifty(Feb Fut)-Levels & Trading Strategy for 11-02-2013
R3 6035
R2 6004
R1 5962
Avg 5931
S1 5889
S2 5858
S3 5816
Nifty(Feb Fut)-Trading Strategy
H6 5994 Trgt 2
H5 5977 Trgt 1
H4 5961 Long breakout
H3 5941 Go Short
H2 5934
H1 5927
L1 5914
L2 5907
L3 5900 Long
L4 5880 Short Breakout
L5 5864 Trgt 1
L6 5847 Trgt 2
Bank Nifty(Feb Fut)-Levels & Trading Strategy for 11-02-2013
R3 12567
R2 12508
R1 12428
Avg 12369
S1 12289
S2 12230
S3 12150
Bank Nifty(Feb Fut)-Trading Strategy
H6 12487 Trgt 2
H5 12455 Trgt 1
H4 12424 Long breakout
H3 12386 Go Short
H2 12373
H1 12360
L1 12335
L2 12322
L3 12309 Long
L4 12271 Short Breakout
L5 12240 Trgt 1
L6 12208 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Feb 11 to Feb 15,2013)
R3 6156
R2 6097
R1 6000
Avg 5941
S1 5844
S2 5785
S3 5688
Nifty Spot-Weekly Trading Strategy
H6 6059 Trgt 2
H5 6024 Trgt 1
H4 5988 Long breakout
H3 5945 Go Short
H2 5931
H1 5917
L1 5888
L2 5874
L3 5860 Long
L4 5817 Short Breakout
L5 5781 Trgt 1
L6 5746 Trgt 2
Bank Nifty Spot-Weekly Levels & Trading Strategy(Feb 11 to Feb 15,2013)
R3 13065
R2 12894
R1 12587
Avg 12416
S1 12109
S2 11938
S3 11631
Bank Nifty Spot-Weekly Trading Strategy
H6 12759 Trgt 2
H5 12651 Trgt 1
H4 12542 Long breakout
H3 12411 Go Short
H2 12367
H1 12323
L1 12236
L2 12192
L3 12148 Long
L4 12017 Short Breakout
L5 11908 Trgt 1
L6 11800 Trgt 2
NIFTY-Feb Call Option(6000)-Positional Buying of 07-02-2013-Covering
NIFTY-Feb Call Option(6000)-Positional Bought on 07-02-2013-Cover immediately-CMP-38(Lalit39)
Mid-session Outlook(08-02-2013)
Although market slipped from higher levels and also trading below yesterday lowest but intraday patterns are not suggesting selling but on the contrary showing consolidation formations therefore up moves continuation hopes are still alive with same expectations which were updated yesterday in previous Outlook.
Up Moves after Correction Completion Today
Nifty-Intra Day Chart (07-Feb-2013):-
1- Support between 5928-5938
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 5928-5978
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| Just click on chart for its enlarged view |
Technical Patterns and Formations in today intraday charts
1- Support between 5928-5938
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 5928-5978
Conclusions from intra day chart analysis
Although previous support at 5941 broken down and trading below it also today but Whole day down moves in Bullish Falling Channel as well as lower levels supports therefore fresh up moves will begin from tomorrow and Nifty will trade between 6000-6100 in the coming sessions after correction completion today.
FII & DII trading activity in Capital Market Segment on 07-Feb-2013
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