Mid-session Outlook(20-05-2013)

Selling patterns formations between 6221-6229 today

Rally Continuation

Technical Analysis,Research & Weekly Outlook

(May 20 to May 24,2013)

Nifty-EOD Chart (17-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 6357.10 on 08-01-2008(All time high formation)
2- Huge correction of 2008
3- 2252.75 on 27-10-2008(Wave-1 begining after 2008 correction completion)
4- Wave-1(3240.55 on 05-11-2008)
5- Wave-2(2502.90 on 20-11-2008)
6- Wave-3(6338.50 on 05-11-2010)
7- Wave-4(4531.15 on 20-12-2011) 
8- Wave-5(Recent top formation at 6,199.95 on 17-05-2013) 

Conclusions from EOD chart analysis 

Wave-5 continuation with  too much high targets above all time high(6357.10) and now its next immediate target is being understood through its internal structure and analysis.

Nifty-EOD Chart (17-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 4531.15 on 20-12-2011(Wave-i of Wave-5 beginning)
2- Wave i(5629.95 on 22-02-2012)
3- Wave ii(4770.35 on 04-06-2012)
4- Wave iii(6111.80 on 29-01-2013)
5- Wave iii gained 1341.45 points. 
6- Wave iv(5477.20 on 10-04-2013) 
7- Wave v of Wave 5 continuation.

Conclusions from EOD chart analysis 

As per Elliot Wave theory Wave-3 of any degree should never be shorter than both Wave-1 and Sub Wave-5 of that degree. Wave-iii gained 1341.45 points and now Wave-v is on after Wave-iv completion at 5477.20. As Wave-v can not gain more than Wave-iii therefore its maximum target will be less than 6818.65 and its calculation is as follows:- 

5477.20(Wave-v begun)+1341.45(Wave-v can gain maximum points)=6818.65

Conclusions (After Putting All Studies Together)

Wave v of Wave 5 is very much on after minor intraday and very short term correction completion. Although Indicators are showing negative divergence in overbought zone but forceful strong rally continuation and it require complete distribution patterns formations for any Short or Intermediate Term correction. It is also confirm that during distribution patterns formations new high of on going rally with lesser force will also be seen and until complete distribution patterns will not form till then any big correction will not be seen.  

As no selling patterns formations yet therefore rally continuation in the coming week.

FII Trading Data in Derivatives Segment on 17-May-2013

FII & DII trading activity in Capital Market Segment on 17-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 17-May-2013 3140.1 2272.17 867.93

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 17-May-2013 999.2 1715.89 -716.69

Indian Stock Markets Closing Reports(17-May-2013)

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.08
Total Options Put Call Ratio: 1.00

Advances & Declines

BSE Advances : 1,170
BSE Declines : 1,256
NSE Advances :   648
NSE Declines :   759

Nifty Open Interest Changed Today

Nifty- 5900  CE(May)- 78,800(-3.25%)
Nifty- 5900  PE(May)- -112,150(-1.47%)

Nifty- 6000  CE(May)- -259,100(-7.57%)
Nifty- 6000  PE(May)-  448,750(5.67%)

Nifty- 6100  CE(May)- -269,550(-4.58%)
Nifty- 6100  PE(May)-  533,100(10.14%)

Nifty- 6200  CE(May)- 387,450(5.42%)
Nifty- 6200  PE(May)- 1,152,750(31.97%)

Nifty- 6300  CE(May)- 381,800(7.36%)
Nifty- 6300  PE(May)- 119,100(17.67%)

Closing 

Sensex- closed at 20,286.12(38.79 Points & 0.19%)
Nifty- closed at 6,187.30(17.40 Points & 0.28%)
CNX Midcap - closed at 8,186.65(44.65 Points & 0.55%)
CNX Smallcap- closed at 3,372.90(14.55 Points & 0.43%)

Nifty Spot-Levels & Trading Strategy for 20-05-2013

Nifty Spot-Levels

R3 6261
R2 6230
R1 6208
Avg 6177
S1 6155
S2 6124
S3 6102

Nifty Spot-Trading Strategy

H6 6240     Trgt 2
H5 6228     Trgt 1
H4 6216     Long breakout
H3 6201     Go Short
H2 6196
H1 6191
L1 6182
L2 6177
L3 6172     Long
L4 6157     Short Breakout
L5 6145     Trgt 1
L6 6133     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 20-05-2013

Nifty(May Fut)-Levels

R3 6276
R2 6242
R1 6219
Avg 6185
S1 6162
S2 6128
S3 6105

Nifty(May Fut)-Trading Strategy

H6 6253     Trgt 2
H5 6240     Trgt 1
H4 6227     Long breakout
H3 6211     Go Short
H2 6206
H1 6201
L1 6190
L2 6185
L3 6180     Long
L4 6164     Short Breakout
L5 6151     Trgt 1
L6 6138     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 20-05-2013

Bank Nifty(May Fut)-Levels

R3 13610
R2 13457
R1 13361
Avg 13208
S1 13112
S2 12959
S3 12863

Bank Nifty(May Fut)-Trading Strategy

H6 13518     Trgt 2
H5 13459     Trgt 1
H4 13401     Long breakout
H3 13333     Go Short
H2 13310
H1 13287
L1 13242
L2 13219
L3 13196     Long
L4 13128     Short Breakout
L5 13070     Trgt 1
L6 13011     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(May 20 to May 24,2013)

Nifty Spot-Weekly Levels

R3 6496
R2 6347
R1 6267
Avg 6118
S1 6038
S2 5889
S3 5809

Nifty Spot-Weekly Trading Strategy 

H6 6424     Trgt 2
H5 6368     Trgt 1
H4 6312     Long breakout
H3 6249     Go Short
H2 6228
H1 6207
L1 6166
L2 6145
L3 6124     Long
L4 6061     Short Breakout
L5 6005     Trgt 1
L6 5949     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(May 20 to May 24,2013)

Bank Nifty Spot-Weekly Levels

R3 14448
R2 13901
R1 13609
Avg 13062
S1 12770
S2 12223
S3 11931

Bank Nifty Spot-Weekly Trading Strategy 

H6  14209    Trgt 2
H5  13994    Trgt 1
H4  13778    Long breakout
H3  13547    Go Short
H2  13470
H1  13393
L1  13240
L2  13163
L3  13086    Long
L4  12855    Short Breakout
L5  12639    Trgt 1
L6  12424    Trgt 2

Pre-Closing Outlook(17-05-2013)

2 Sessions actual trading between 6147-6186 with selling patterns yesterday and consolidations formations today. As emergence of consolidation signals immediately after opening today therefore following lines were told in both previous Outlooks today at 09:44:00 AM and 11:13:00 AM:-

1- Bull Markets consolidates at higher levels also
2- sometimes Bull markets starts fresh up moves after higher levels consolidations

Rally continuation after lower levels consolidations today

Mid-session Outlook(17-05-2013)

As selling developed therefore only very short term correction was projected yesterday and  market slipped toward new intraday lows also. Although market is trading in Red but sometimes Bull markets starts fresh up moves after higher levels consolidations therefore follow up moves today and valid break out of 2 sessions actual trading range(6154-6186) should be firstly watched for next immediate move confirmations.

Post-open Outlook(17-05-2013)

As selling yesterday therefore very short term correction is expected but Bull Markets consolidates at higher levels also therefore valid break out of yesterday trading range(6156-6186) should be firstly watched for next immediate move confirmations.

Technical Analysis and Market Outlook(17-05-2013)

Nifty-Intra Day Chart (16-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 6176-6186
2- Buying between 6156-6162
3- Whole day actual trading between 6156-6186

Conclusions from intra day chart analysis

Although whole day narrow range trading in Green with higher levels selling and lower levels supports today therefore sustaining beyond today actual trading range(6156-6186) will be next very short term term trend confirmation but down moves possibilities are more because good selling seen at higher levels today.

FII Trading Data in Derivatives Segment on 16-May-2013

FII & DII trading activity in Capital Market Segment on 16-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 16-May-2013 3892.2 2821.88 1070.32

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 16-May-2013 1298.93 1689.35 -390.42

Indian Stock Markets Closing Reports(16-May-2013

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.05
Total Options Put Call Ratio: 0.98
Nifty P/E Ratio(16-May-2013): 18.24

Advances & Declines

BSE Advances : 1,199
BSE Declines : 1,277
NSE Advances :   687
NSE Declines :   718

Nifty Open Interest Changed Today

Nifty- 5900  CE(May)- -238,600(-8.96%)
Nifty- 5900  PE(May)- -291,400(-3.68%)

Nifty- 6000  CE(May)- -548,400(-13.81%)
Nifty- 6000  PE(May)-  583,100(7.95%)

Nifty- 6100  CE(May)- -247,700(-4.04%)
Nifty- 6100  PE(May)-  491,250 (10.31%)

Nifty- 6200  CE(May)- 274,750(4.00%)
Nifty- 6200  PE(May)- 793,650(28.22%)

Nifty- 6300  CE(May)- 220,600(4.44%)
Nifty- 6300  PE(May)- 223,950(49.77%)

Closing

Sensex- closed at 20,247.33(34.37 Points & 0.17%)
Nifty- closed at 6,169.90(23.15 Points & 0.38%)
CNX Midcap - closed at 8,142.00(48.35 Points & 0.60%)
CNX Smallcap- closed at 3,358.35(12.35 Points & 0.37%)

Nifty Spot-Levels & Trading Strategy for 17-05-2013

Nifty Spot-Levels

R3 6253
R2 6220
R1 6194
Avg 6161
S1 6135
S2 6102
S3 6076

Nifty Spot-Trading Strategy

H6  6228    Trgt 2
H5  6214    Trgt 1
H4  6201    Long breakout
H3  6185    Go Short
H2  6179
H1  6174
L1  6163
L2  6158
L3  6152    Long
L4  6136    Short Breakout
L5  6123    Trgt 1
L6  6109    Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 17-05-2013

Nifty(May Fut)-Levels

R3 6258
R2 6228
R1 6203
Avg 6173
S1 6148
S2 6118
S3 6093

Nifty(May Fut)-Trading Strategy

H6 6233     Trgt 2
H5 6220     Trgt 1
H4 6208     Long breakout
H3 6193     Go Short
H2 6188
H1 6183
L1 6172
L2 6167
L3 6162     Long
L4 6147     Short Breakout
L5 6135     Trgt 1
L6 6122     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 17-05-2013

Bank Nifty(May Fut)-Levels

R3 13531
R2 13390
R1 13282
Avg 13141
S1 13033
S2 12892
S3 12784

Bank Nifty(May Fut)-Trading Strategy

H6 13427     Trgt 2
H5 13369     Trgt 1
H4 13311     Long breakout
H3 13243     Go Short
H2 13220
H1 13197
L1 13152
L2 13129
L3 13106     Long
L4 13038     Short Breakout
L5 12980     Trgt 1
L6 12922     Trgt 2

Pre-Closing Outlook-2(16-05-2013)

Whole day narrow range trading in Green with higher levels selling and lower levels supports today therefore sustaining beyond today actual trading range(6156-6186) will be next very short term term trend confirmation but down moves possibilities are more because good selling seen at higher levels today.