Technical Analysis and Market Outlook(11-06-2013)

Nifty-Intra Day Chart (10-Jun-2013):-

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Technical Patterns and Formations in today intraday charts

1-Supports between 5874-5887.
2- Selling between 5904-5914.
3- Whole day actual trading between 5857-5931.

Conclusions from intra day chart analysis

Correction continuation and today most time trading between next strong supports range(5860-5900) and testing of its lowest(5860) as well. Good selling at higher levels in previous week and today again selling above mentioned strong supports range also but lower levels supports also seen today.  As today whole day trading was news driven because firstly blasting Global cues and resultant strong Green zone trading immediately after opening but sentiment dampened also because Indian Rupee continuously weakened whole day.

Final conclusion from today intraday trading is that positions are not one sided but mixed and valid break of today trading range will be next trend following confirmations:-

1- Deeper correction confirmation below 5857.
2- First indication of up moves above 5931 and confirmation will be after sustaining above 5981.

As Bearish Head & Shoulders pattern formations confirmation and higher levels good selling in previous week and some selling also seen today therefore expected that follow up selling will develop in the coming sessions and high possibility of correction continuation after slipping and sustaining below today lowest(5857)

FII Trading Data in Derivatives Segment on 10-Jun-2013

FII & DII trading activity in Capital Market Segment on 10-Jun-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 10-Jun-2013 2229.24 2343.24 -114

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 10-Jun-2013 764.93 834.68 -69.75

Nifty Spot-Levels & Trading Strategy for 11-06-2013

Nifty Spot-Levels

R3 5994
R2 5962
R1 5920
Avg 5888
S1 5846
S2 5814
S3 5772

Nifty Spot-Trading Strategy

H6 5952     Trgt 2
H5 5935     Trgt 1
H4 5918     Long breakout
H3 5898     Go Short
H2 5891
H1 5884
L1 5871
L2 5864
L3 5857     Long
L4 5837     Short Breakout
L5 5820     Trgt 1
L6 5803     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 11-06-2013

Nifty(Jun Fut)-Levels

R3 6004
R2 5971
R1 5932
Avg 5899
S1 5860
S2 5827
S3 5788

Nifty(Jun Fut)-Trading Strategy

H6 5965     Trgt 2
H5 5948     Trgt 1
H4 5932     Long breakout
H3 5912     Go Short
H2 5906
H1 5899
L1 5886
L2 5879
L3 5873     Long
L4 5853     Short Breakout
L5 5837     Trgt 1
L6 5820     Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 11-06-2013

Bank Nifty(Jun Fut)-Levels

R3 12645
R2 12500
R1 12297
Avg 12152
S1 11949
S2 11804
S3 11601

Bank Nifty(Jun Fut)-Trading Strategy

H6 12444     Trgt 2
H5 12364     Trgt 1
H4 12285     Long breakout
H3 12189     Go Short
H2 12157
H1 12125
L1 12062
L2 12030
L3 11998     Long
L4 11902     Short Breakout
L5 11823     Trgt 1
L6 11743     Trgt 2

Pre-Closing Outlook-2(10-06-2013)

As Indian Rupee weakened by 25 paisa against USD in last 1 hour therefore its direct impact seen and Indian stock markets slipped  as well as most crucial support of 5860 was tested. Next down moves confirmations are still required through sustaining below 5874/5860.

Pre-Closing Outlook(10-06-2013)

Recovery seen after lower levels consolidations and supports between 5874-5882 but and slipping after more than half hour selling between 5904-5914. Certainly intraday patterns are mixed today and valid break mout of today actual trading range(5874-5918) should be firstly watched for next immediate moves confirmations. 

Mid-session Outlook-2(10-06-2013)

Although today lowest broken down and now Nifty is trading in Red after loosing all hefty intraday gains but last more than 2 hours intraday charts are showing consolidation indications therefore until Nifty will not sustaining below 5860 till then deeper correction will not be seen. Firstly sustaining beyond 5860 should be watched for next trend confirmations

Mid-session Outlook(10-06-2013)

As good selling at higher levels therefore down moves were told in previous Outlooks and it was seen also that Indian markets could not sustain at higher levels despite strong global cues. Although Nifty is trading near today intraday lows but emergence of consolidation patterns therefore sustaining beyond following range should be firstly watched for next moves confirmations:-

5860-5981

Pre-open Outlook(10-06-2013)

Nifty traded between 5871-5945 in last more than 2 hours last Friday and slipped in last hour after almost 2 hours selling between 5917-5945. As sentiment is positive today morning after strong global markets and Asian markets are recovering from lower levels therefore Nifty will firstly trade between 5871-5945 and prepare for next moves. Although finally down moves are expected below 5871 but precautionally sustaining beyond 5871-5945 should also be watched:-

1- For steep fall below 5871 or
2- For up moves above 5945 but complete consolidation is firstly required within mentioned range.

Correction continuation below 5841 after Bearish pattern broken down confirmations

Technical Analysis,Research & Weekly Outlook

(Jun 10 to Jun 14,2013)

Nifty-EOD Chart (07-Jun-2013):-

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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-iv(5477.20 on 10-04-2013) 
6- Wave-v of Wave-5(recent top formation at 6229.45 on 20-05-2013)
7- Corrective Wave-C of 'ABC' correction continuation.

Conclusions from EOD chart analysis 

Corrective Wave-C of corrective 'ABC' continuation after Impulsive Wave-B completion at 6133.75 on 30-05-2013. Corrective Wave-A retraced 292.65 points and its almost 100% retracement is possible therefore on going Wave-C may retrace up to:-

5841.10(6133.75-292.65).

Wave-C recent bottom formations at 5869.50 on 06-06-2013 and Nifty closed near about it at 5881.00 on 07-06-2013. As last Friday closing near the near the bottom of on going correction and next supports are between 5860-5900 as well as 100% retracement level is at 5841.10 therefore next support range is 5841-5900.

Detailed Analysis on on going ABC' correction

Nifty-EOD Chart (07-Jun-2013):-

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Technical Patterns and Formations in EOD charts

1- Wave-iv(5477.20 on 10-04-2013)
2- Wave-v of Wave-5(6229.45 on 20-05-2013)
3- Bearish Head & Shoulders formation in last 20 sessions and its Neckline(6970) broken down on 03-06-2013.

Conclusions from EOD chart analysis 

Bearish Head & Shoulders formation and its Neckline(6970) broken down as well as 5 sessions closing below it therefore almost its confirmation and opening the doors of deeper correction.

Nifty-Intra Day Chart (Jun 03 to Jun 07,2013):-

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Technical Patterns and Formations in last 5 Sessions intraday charts

1- Bearish Head & Shoulders and its Neckline(6970) broken down on 03-06-2013 
2- 7 times multiple selling at higher levels in last 5 Sessions.
3- 4 times multiple supports at lower levels in last 5 Sessions.
3- 5 Sessions actual trading between 5870-6011. 

Conclusions from 5 Sessions intra day chart analysis 

Although lower levels supports but higher levels good selling also in last 5 sessions and closing near lower levels because huge selling on 07-06-2013 after breaking down of all supports therefore expectations of more down moves.

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

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Technical Patterns and Formations in today intraday charts

1- consolidation between 5900-5917
2- Bearish Rising Wedge formations near the top of day.
3- Good selling between 5955-5972
4- Follow up selling between 5917-5945
5- Whole day actual trading between 5871-5972

Conclusions from intra day chart analysis 

Firstly consolidation but Bearish Rising Wedge formations near the top of day and after that that Good selling in last 3 hours as well as closing near the lows of the day and it is strong indication of weakness.

Conclusions (After Putting All Studies Together)

'ABC' correction is on and deepr correction possibility after Neckline broken down confirmations of Bearish Head & Shoulders pattern. Although good selling at higher levels in previous week but next supports are between 5860-5900 and Nifty closed between this range in previous week therefore this range is last hope for Bulls and once valid break down below 5860 will mean steep fall.

Technical Analysis and Market Outlook(10-06-2013)

Although Indian markets closed at the lowest of the day but US markets closed with good gains last Friday therefore firstly positive zone trading is expected in the beginning of next week but expected that following resistance ranges will not be crossed under whatsoever Bullish sentiments:-

1- 5917-5945
2- 5955-5972
3- 5960-5981

Expected that follow up selling will develop in the coming sessions and high possibility of slipping below next broader support range 5841-5900 in next 2/3 sessions because broken down confirmations of Bearish Head & Shoulders pattern in previous week.

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

FII & DII trading activity in Capital Market Segment on 07-Jun-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-Jun-2013 2444.08 2286.18 157.9

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 07-Jun-2013 980.79 808.09 172.7

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

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 0.97
Total Options Put Call Ratio: 0.94
Nifty P/E Ratio(07-Jun-2013): 17.51

Advances & Declines

BSE Advances : 1,031
BSE Declines : 1,328
NSE Advances :   591
NSE Declines :   798

Nifty Open Interest Changed Today

Nifty- 5700  CE(Jun)- -35,000(-4.55%)
Nifty- 5700  PE(Jun-   443,050(9.07%)

Nifty- 5800  CE(Jun)- 151,800(9.50%)
Nifty- 5800  PE(Jun-  239,800(4.09%)

Nifty- 5900  CE(Jun)- 297,200(7.86%)
Nifty- 5900  PE(Jun- -72,400(-1.08%)

Nifty- 6000  CE(Jun)- 940,800(20.12%)
Nifty- 6000  PE(Jun-  110,700(3.23%)

Closing 

Sensex- closed at 19,429.23(-90.26 Points & -0.46%)
Nifty- closed at 5,881.00(-40.40 Points & -0.68%)
CNX Midcap - closed at 7,804.30(-60.50 Points & -0.77%)
CNX Smallcap- closed at 3,157.25(-12.60 Points & -0.40%)

Nifty Spot-Levels & Trading Strategy for 10-06-2013

Nifty Spot-Levels

R3 6046
R2 6009
R1 5945
Avg 5908
S1 5844
S2 5807
S3 5743

Nifty Spot-Trading Strategy

H6 5982     Trgt 2
H5 5959     Trgt 1
H4 5936     Long breakout
H3 5908     Go Short
H2 5899
H1 5890
L1 5871
L2 5862
L3 5853     Long
L4 5825     Short Breakout
L5 5802     Trgt 1
L6 5779     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 10-06-2013

Nifty(Jun Fut)-Levels

R3 6067
R2 6028
R1 5961
Avg 5922
S1 5855
S2 5816
S3 5749

Nifty(Jun Fut)-Trading Strategy

H6 6001     Trgt 2
H5 5977     Trgt 1
H4 5953     Long breakout
H3 5924     Go Short
H2 5914
H1 5904
L1 5885
L2 5875
L3 5865     Long
L4 5836     Short Breakout
L5 5812     Trgt 1
L6 5788     Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 10-06-2013

Bank Nifty(Jun Fut)-Levels

R3 12701
R2 12597
R1 12412
Avg 12308
S1 12123
S2 12019
S3 11834

Bank Nifty(Jun Fut)-Trading Strategy

H6 12516     Trgt 2
H5 12451     Trgt 1
H4 12385     Long breakout
H3 12306     Go Short
H2 12279
H1 12253
L1 12200
L2 12174
L3 12147     Long
L4 12068     Short Breakout
L5 12002     Trgt 1
L6 11937     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Jun 10 to Jun 14,2013)

Nifty Spot-Weekly Levels

R3 6112
R2 6061
R1 5971
Avg 5920
S1 5830
S2 5779
S3 5689

Nifty Spot-Weekly Trading Strategy 

H6 6022     Trgt 2
H5 5990     Trgt 1
H4 5958     Long breakout
H3 5919     Go Short
H2 5906
H1 5893
L1 5868
L2 5855
L3 5842     Long
L4 5803     Short Breakout
L5 5771     Trgt 1
L6 5739     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(Jun 10 to Jun 14,2013)

Bank Nifty Spot-Weekly Levels

R3 12777
R2 12649
R1 12440
Avg 12312
S1 12103
S2 11975
S3 11766

Bank Nifty Spot-Weekly Trading Strategy 

H6 12569     Trgt 2
H5 12492     Trgt 1
H4 12416     Long breakout
H3 12323     Go Short
H2 12292
H1 12261
L1 12200
L2 12169
L3 12138     Long
L4 12045     Short Breakout
L5 11969.     Trgt 1
L6 11892     Trgt 2

Mid-session Outlook-2(07-06-2013)

Although good recovery from lower levels after good consolidations but not sustaining at higher levels within next resistance range(5960-5981) and slipping from higher levels therefore no confirmation of rally beginning yet.  As Bearish Rising Wedge formations near the top of day today therefore firstly sustaining above today highest(5972) and after that 5981 is must for next up trend. 

Market takes its own complete time for the preparation of next moves and same is being within sideways markets between 5960-5981 for the last 4 sessions. As lower levels good consolidation and after that higher levels intraday selling today therefore only volatility will be understood and today trading range(5900-5972) valid break out will be next trend first indication as well as confirmation will be sustaining beyond 5870-5981.