Post-open Outlook(09-05-2013)

As selling patterns indications at higher levels seen in last more than 2 hours yesterday therefore following line was told today at 01:13 AM in Technical Analysis and Market Outlook(09-05-2013)

1- selling patterns indications at higher levels seen in last more than 2 hours
2- sustaining above yesterday high(6083) should be firstly watched today for immediate next up moves confirmations.

Selling indications between 6050-6065 yesterday and Nifty traded most time between this range today. Follow up moves between this range will give first indication of next immediate moves and its valid break out should be firstly watched today.

Technical Analysis and Market Outlook(09-05-2013)

Nifty-Intra Day Chart (08-May-2013):-

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Technical Patterns and Formations in today intraday charts

1- Support between 6024-6040
2- Selling indications 6050-6065
3- Whole day actual trading between 6024-6083

Conclusions from intra day chart analysis 

All trends are up and impulsive Wave-5 continuation but Indicators are overbought and suggesting for correction. As complete selling patterns on daily charts are required for any deeper correction and no such patterns formations yet therefore any deeper correction will not be considered at this moment. Many times Bullish markets complete its corrections between sideways moves or at higher levels consolidations therefore such type of corrections should be kept in mind.

Lower levels supports and selling patterns indications at higher levels seen in last more than 2 hours therefore mixed patterns formations on 08-05-2013. Next strong resistance are between 6050-6105 and complete consolidations patterns are required for crossing and sustaining above 6105 but Nifty traded between this range with selling patterns indications therefore sustaining above yesterday high(6083) should be firstly watched today for immediate next up moves confirmations.

As complete selling patterns are required for any deeper correction and no such formation seen yet therefore rally continuation is expected after follow up consolidations within mentioned resistance range.

FII Trading Data in Derivatives Segment on 08-May-2013

FII & DII trading activity in Capital Market Segment on 08-May-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 08-May-2013 3036.88 2059.89 976.99

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 08-May-2013 782.24 1451.32 -669.08

Indian Stock Markets Closing Reports(08-May-2013)

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.00
Total Options Put Call Ratio: 0.96
Nifty P/E Ratio(08-May-2013):18.03

Advances & Declines

BSE Advances : 1,238
BSE Declines : 1,194
NSE Advances :   715
NSE Declines :   700

Nifty Open Interest Changed Today

Nifty- 5800  CE(May)- -115,650(-5.02%)
Nifty- 5800  PE(May)-  278,000(3.26%)

Nifty- 5900  CE(May)- -768,950(-16.63%)
Nifty- 5900  PE(May)-  573,650(8.90%)

Nifty- 6000  CE(May)- -22,000(-0.44%)
Nifty- 6000  PE(May)-  934,850(19.53%)

Nifty- 6100  CE(May)- 166,950(3.32%)
Nifty- 6100  PE(May)- 487,700(41.52%)

Nifty- 6200  CE(May)- 623,850(11.11%)
Nifty- 6200  PE(May)- -250(-0.03%)

Closing 

Sensex- closed at 19,990.18(101.23 Points & 0.51%)
Nifty- closed at 6,069.30(25.75 Points & 0.43%)
CNX Midcap - closed at 8,042.15(2.50 Points & 0.03%)
CNX Smallcap- closed at 3,347.05(31.90 Points & 0.96%)

Nifty Spot-Levels & Trading Strategy for 09-05-2013

Nifty Spot-Levels

R3 6152
R2 6117
R1 6093
Avg 6058
S1 6034
S2 5999
S3 5975

Nifty Spot-Trading Strategy

H6 6128     Trgt 2
H5 6114     Trgt 1
H4 6101     Long breakout
H3 6085     Go Short
H2 6079
H1 6074
L1 6063
L2 6058
L3 6052     Long
L4 6036     Short Breakout
L5 6023     Trgt 1
L6 6009     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 09-05-2013

Nifty(May Fut)-Levels

R3 6165
R2 6127
R1 6101
Avg 6063
S1 6037
S2 5999
S3 5973

Nifty(May Fut)-Trading Strategy

H6 6139     Trgt 2
H5 6124     Trgt 1
H4 6110     Long breakout
H3 6092     Go Short
H2 6086
H1 6080
L1 6069
L2 6063
L3 6057     Long
L4 6039     Short Breakout
L5 6025     Trgt 1
L6 6010     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 09-05-2013

Bank Nifty(May Fut)-Levels

R3 12881
R2 12770
R1 12687
Avg 12576
S1 12493
S2 12382
S3 12299

Bank Nifty(May Fut)-Trading Strategy

H6 12800     Trgt 2
H5 12755     Trgt 1
H4 12710     Long breakout
H3 12657     Go Short
H2 12639
H1 12621
L1 12586
L2 12568
L3 12550     Long
L4 12497     Short Breakout
L5 12452     Trgt 1
L6 12407     Trgt 2

Pre-Closing Outlook(08-05-2013)

Whole day sideways trading between 6026-6068 with lower levels supports and higher levels selling patterns indications. All trends are up and now trading near the highs of on going rally as well as today trading near the lower levels of next strong resistance range(6050-6105).

As indicators are overbought therefore correction is due and some selling indications have emerged at higher levels today therefore sustaining beoynd today trading range will be firstly watched tomorrow for next moves confirmations because lower levels supports also seen today. 

Mid-session Outlook(08-05-2013)

Following lives were told yesterday in Rally continuation

1- minor corrections will be considered at this moment 
2- Next strong resistances are between 6050-6105 and market requires complete follow up consolidations for crossing and sustaining above it

Firstly Nifty traded almost 2 hours within mentioned resistance range and slipped below it as well but intraday patterns are not showing selling patterns and suggesting consolidations patterns formations. As market requires complete follow up consolidations for crossing and sustaining above mentioned resistance range therefore Nifty will hover around this range(6050-6105) in the coming sessions and prepare for next up moves above 6111 after completion of minor corrections.

Rally continuation

Nifty-Intra Day Chart (07-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- First 3 hours lower levels consolidation between 5995-6005.
2- Bullish Flag formations.
3- Whole day actual trading between 5995-6050

Conclusions from intra day chart analysis 

Sentiment is heated and indicators are over bought therefore intraday corrections can not be ruled out. As Many times Bullish markets completes correction in range bound mode or after higher levels consolidations also therefore only such type of minor corrections will be considered at this moment because no selling seen today and complete selling patterns are required for decisive down moves or deeper correction.

Although negative news flow form Parliament today but Indian markets showed whole day up moves after first 3 hours lower levels consolidations and Bullish Flag formations in the Mid session therefore rally continuation is expected in the coming sessions.

Next strong resistances are between 6050-6105 and market requires complete follow up consolidations for crossing and sustaining above it therefore slow up moves within this range and coming 1/2 sessions trading within it is possible. As no harm to on going rally yet therefore up moves will be seen within and above mentioned resistances  range(6050-6105).

FII Trading Data in Derivatives Segment on 07-May-2013

FII & DII trading activity in Capital Market Segment on 07-May-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 07-May-2013 3021.82 2366.61 655.21

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 07-May-2013 744.18 1473.35 -729.17

Indian Stock Markets Closing Reports(07-May-2013)

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.07
Total Options Put Call Ratio: 1.02
Nifty P/E Ratio(07-May-2013): 17.98

Advances & Declines

BSE Advances : 1,354
BSE Declines : 1,063
NSE Advances :   843
NSE Declines :   586

Nifty Open Interest Changed Today

Nifty- 5800  CE(May)- -181,550(-7.30%)
Nifty- 5800  PE(May)- 908,400(11.93%)

Nifty- 5900  CE(May)- -482,750(-9.45%)
Nifty- 5900  PE(May)-  1,116,150(20.94%)

Nifty- 6000  CE(May)- -518,000(-9.40%)
Nifty- 6000  PE(May)-  2,183,150(83.83%)

Nifty- 6100  CE(May)- -297,650(-5.58%)
Nifty- 6100  PE(May)-  337,450(40.31%)

Nifty- 6200  CE(May)-  1,745,150(45.10%)
Nifty- 6200  PE(May)- -14,350(-1.91%)

Closing 

Sensex- closed at 19,888.95(215.31 Points & 1.09%)
Nifty- closed at 6,043.55(72.50 Points & 1.21 %)
CNX Midcap - closed at 8,039.65(70.75 Points & 0.89%)
CNX Smallcap- closed at 3,315.15(28.10 Points & 0.85%)

Nifty Spot-Levels & Trading Strategy for 08-05-2013

Nifty Spot-Levels

R3 6136
R2 6093
R1 6068
Avg 6025
S1 6000
S2 5957
S3 5932

Nifty Spot-Trading Strategy

H6  6111    Trgt 2
H5  6096    Trgt 1
H4  6080    Long breakout
H3  6061    Go Short
H2  6055
H1  6049
L1  6036
L2  6030
L3  6024    Long
L4  6005    Short Breakout
L5  5989    Trgt 1
L6  5974    Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 08-05-2013

Nifty(May Fut)-Levels

R3 6148
R2 6102
R1 6076
Avg 6030
S1 6004
S2 5958
S3 5932

Nifty(May Fut)-Trading Strategy

H6 6122     Trgt 2
H5 6106     Trgt 1
H4 6089     Long breakout
H3 6069     Go Short
H2 6063
H1 6056
L1 6043
L2 6036
L3 6030     Long
L4 6010     Short Breakout
L5 5993     Trgt 1
L6 5977     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 08-05-2013

Bank Nifty(May Fut)-Levels

R3 12919
R2 12768
R1 12682
Avg 12531
S1 12445
S2 12294
S3 12208

Bank Nifty(May Fut)-Trading Strategy

H6 12837     Trgt 2
H5 12781     Trgt 1
H4 12726     Long breakout
H3 12661     Go Short
H2 12639
H1 12617
L1 12574
L2 12552
L3 12530     Long
L4 12465     Short Breakout
L5 12410     Trgt 1
L6 12354     Trgt 2

Mid-session Outlook-2 (07-05-2013)

Neither Global cues are Bullish today nor News flow is positive today but Indian markets are more than 1.20% up therefore will be understood most strong. Nifty has cleared most of the resistances and now trading a little below the highest of on going rally after completing Short Term correction in narrow range moves.

As no sign of weakness yet therefore rally continuation is expected.

As busy in a marriage therefore only Mid-session Outlooks will be updated today and remaining all other features will be posted after 9:00 PM today.

Pre-Closing Outlook(06-05-2013)

Following line was told today in Technical Analysis,Research & Weekly Outlook (May 06 to May 10,2013)

Expected that Nifty will firstly hover around previous 2 Sessions actual trading range(5927-6017) and will prepare for next trend

As was told 100% same happened and today whole day trading was seen between 5,928.45-5,976.50 but intraday patterns are not showing any clear pattern formation because lower levels supports with some higher levels selling indications also seen. 

It will be better to wait for one sided intraday patterns formations and valid break out of 5927-6017 should also be watched in the coming sessions for next moves confirmations. We tells only those words which are confirm and never try to guess therefore when Indian markets closed near the top of the day on 02-05-2013 then we told these lines on 02-05-2013 in Short Term Correction on Cards:-

Short Term Correction will be seen tomorrow despite whatsoever rates cuts by RBI.

Technical Analysis,Research & Weekly Outlook

(May 06 to May 10,2013)

Nifty-EOD Chart (03-May-2013):-

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Technical Patterns and Formations in EOD charts

1- 4531.15 on 20-12-2011(Wave-3 beginning after 13 Months Wave-2 correction completion) 
2- Wave 1(5629.95 on 22-02-2012)
3- Wave 2(4770.35 on 04-06-2012)
4- Wave 3(6111.80 on 29-01-2013) 
5- Wave 4(5477.20 on 10-04-2013) 
6- Wave 5 continuation with top formation at 6019.45 on 02-May-2013.

Conclusions from EOD chart analysis 

All trends are up after 542 points strong rally in 14 sessions but Short Term correction is due also because indicators are overbought.

Nifty-Intra Day Chart (May 02 and May 3,2013):-

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Technical Patterns and Formations in last 2 Sessions intraday charts

1- Good Selling between 5993-6017 on 02-05-2013
2- Selling between 5990-5999 on 03-05-2013
3- Minor Supports at lower levels between 5933-5957 on 03-05-2013
4- 2 Sessions actual trading between 5927-6017 

Conclusions from 2 Sessions intra day chart analysis 

Good selling at higher levels in both previous sessions and minor supports can not be ruled out at lower levels on 03-05-2013 because markets did not showed as such down moves after most disappointing RBI Credit policy as were required. As higher levels selling with lower levels supports also in last 2 sessions therefore mixed formations in both previous sessions.

Conclusions (After Putting All Studies Together)

Short Term correction is due and its first indication after good higher levels Selling on 02-05-2013. As minor Supports also seen at lower levels on 03-05-2013 therefore valid break out of last 2 Sessions actual trading between range(5927-6017) will be next decisive moves confirmation.

Expected that Nifty will firstly hover around previous 2 Sessions actual trading range(5927-6017) and will prepare for next trend after 14 sessions strong rally. As Bull markets does not correct deep and completes its correction between range bound moves therefore deeper correction will not be considered at this moment because only one day(02-05-2013) good selling.

Correction continuation and its length will be decided according to follow up moves in the coming couple of sessions. If follow up selling develops then following retracement levels will be firstly watched for correction completion:-

38.2%- 5811
50.0%- 5748
61.8%- 5684

Impulsive Wave 5 continuation after and now its corrective Sub Wave ii is being considered after good selling on 02-05-2013 and beginning of down moves on 03-05-2013. Expected that  Wave 5 will remain continued after on going correction completion and follow up consolidations. Let it happen then impulsive Sub Wave iii of Wave 5 will begin to form new highs above 6111 and its confirmation will be after sustaining above 6019.