Mid-session Outlook(31-03-2014)

Confirm selling at higher levels today and next immediate supports are at 6644.

Rally Continuation towards Unimaginable Higher Levels

Technical Analysis,Research & Weekly Outlook

(Mar 31 to Apr 04,2014)

Nifty-EOD Chart (28-Mar-2014):-

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Technical Patterns and Formations in EOD charts

1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-i of Wave-3(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation with new highest formation at 6702.60 on 28-03-2014

Conclusions from EOD chart analysis 

With technical calculations following prediction was done on 21-10-2013 in Minimum target of Nifty at 6724.60:-

Nifty is well set for rally towards minimum target at 6724.60

As was told 5 months before and repeated more than 10 times since 21-10-2013, has been proved almost accurate after recent top formation at 6702.60 on 28-03-2014

All trends are up and Bullish market Wave-iii of Wave-3 continuation towards those higher levels which can not be easily imagined at this moment because following minimum waves are still left:-

1- Wave-iii of Wave-3 continuation and no signal of its termination yet.
2- Corrective Wave-iv of Wave-3 will start after on going Wave completion and this corrective will correct whole that up move which started from 5933.30.
3- Impulsive Wave-v of Wave-3 will start after previous corrective wave completion and this Wave will form new high above the top of Wave-iii of Wave-3. It should also be kept in mind that Wave-iii of Wave-3 top formations confirmation has not been seen yet.
4- Wave-v of Wave-3 completion will mean termination of Wave-3 and corrective Wave-4 beginning. 
5- Corrective Wave-4 will correct whole up moves which started from 5700.95.
6- Impulsive Wave-5 will start towards new top formation above the top of Wave-3.

As per Waves structures too much higher levels above 6702.60 are still left and those higher levels will be seen in the coming months and years.

Nifty-Intra Day Chart (28-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6644- 6664
2- Whole day actual trading between 6644-6702

Conclusions from intra day chart analysis 

New intraday high formation at 6702.60 on 28-03-2014 after lower levels good consolidation but when Nifty was trading near the lowest of the day then we were not bearish therefore we clearly told at 12:48 PM on 28-03-2014 in Mid-session Outlook(28-03-2014)

new intraday lowest formation 15 minutes before at 6643.80 but as such selling patterns were not seen today.

As lower levels good consolidation on 31-03-2014 therefore until Nifty will not sustain below the lowest of the day(6643.80) after complete selling till then decisive down moves will not be considered.

Conclusions (After Putting All Studies Together)

At present impulsive Wave-iii of Wave-3 continuation and no signal of its completion yet. Until complete selling patterns will not develop till then correction or decisive down moves will not be seen. As Short Term indicators are over bought therefore correction is due but will not be seen immediately because:-

1- 11 Sessions most time trading range(6433-6574) broken out in previous week.
2- Good intraday consolidation seen at lower levels in previous session(28-03-2014).

Bullish markets following character should also be kept in mind:-

1- Markets consolidate at higher levels also.
2- Some times markets correct time wise not price wise.
3- Some times markets complete its correction in sideways moves and deeper correction is not seen. 

Indian markets are completely Bullish and let complete selling patterns develop then will updated according to intraday selling patterns analysis and until it will not happen till then on going rally will remain continued towards new tops formation.

Mid-session Outlook(28-03-2014)

As big selling patterns formations between 6636-6673 yesterday and consolidation was firstly must for any decisive up moves above 6673 therefore most time trading and preparation for next moves between this range today. Although slipping from higher levels and new intraday lowest formation 15 minutes before at 6643.80 but as such selling patterns were not seen today.

Technical Analysis and Market Outlook(28-03-2014)

Nifty-Intra Day Chart (27-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6636-6673
2- Whole day actual trading between 6600-6673

Conclusions from intra day chart analysis 

Although today closing in Green but big selling patterns formations also seen today therefore generation of a correction signal today. It should also be kept in mind that Bull market complete its correction at higher levels consolidation or side ways market also therefore until complete selling will not develop and any crucial support will not break down till then deeper correction will not seen.

All trends are up and rally continuation but correction is due also. Let selling process complete then will be updated according to final positions formations and till then rally continuation may be seen with lesser force also.

Nifty Spot-Levels & Trading Strategy for 28-03-2014

Nifty Spot-Levels

R3 6750
R2 6711
R1 6676
Avg 6637
S1 6602
S2 6563
S3 6528

Nifty Spot-Trading Strategy

H6 6715     Trgt 2
H5 6698     Trgt 1
H4 6681     Long breakout
H3 6661     Go Short
H2 6654
H1 6647
L1 6634
L2 6627
L3 6620     Long
L4 6600     Short Breakout
L5 6583     Trgt 1
L6 6566     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 28-03-2014

Nifty(Apr Fut)-Levels

R3 6772
R2 6745
R1 6714
Avg 6687
S1 6656
S2 6629
S3 6598

Nifty(Apr Fut)-Trading Strategy

H6 6741     Trgt 2
H5 6728     Trgt 1
H4 6714     Long breakout
H3 6698     Go Short
H2 6693
H1 6688
L1 6677
L2 6672
L3 6667     Long
L4 6651     Short Breakout
L5 6637     Trgt 1
L6 6624     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 28-03-2014

Bank Nifty(Apr Fut)-Levels

R3 13109
R2 12988
R1 12857
Avg 12736
S1 12605
S2 12484
S3 12353

Bank Nifty(Apr Fut)-Trading Strategy

H6 12981     Trgt 2
H5 12923     Trgt 1
H4 12865     Long breakout
H3 12796     Go Short
H2 12773
H1 12750
L1 12703
L2 12680
L3 12657     Long
L4 12588     Short Breakout
L5 12530     Trgt 1
L6 12472     Trgt 2

FII Trading Data in Derivatives Segment on 27-Mar-2014

FII & DII trading activity in Capital Market Segment on 27-Mar-2014

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 27-Mar-2014 8064.48 5872.55 2191.93

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 27-Mar-2014 2324.96 2916.79 -591.83

Pre-closing Outlook(27-03-2014)

When Nifty was trading at 6638 then at 01:35 PM then following line was told today in Mid-session Outlook-2:-

last 2 hours intraday charts are showing selling patterns formations

As selling therefore Nifty could not sustain at and higher levels and slipped,just now traded at 6625.

All trends are up and rally continuation as well as correction is due but until complete selling will not develop till then correction will not be seen. Some selling was seen yesterday and again some selling also seen today but high volatility today. As technical positions reverses amid such volatility therefore fresh positions formation is firstly required and let it happen then final view will be updated.

Mid-session Outlook-2(27-03-2014)

Although now trading near the higher levels of the day but last 2 hours intraday charts are showing selling patterns formations also.

Mid-session Outlook(27-03-2014)

As some selling was seen at higher levels yesterday therefore March derivative expiry was expected below 6627 but good recovery from lower levels and now trading above 6627. As Bull markets consolidate at higher levels also therefore expiry above 6627 can not be ruled out because good recovery from lower levels also seen in all Asian markets in last 1/2 hours.

Technical Analysis and Market Outlook(27-03-2014)

Nifty-Intra Day Chart (26-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- First 5 hours trading with mixed patterns formations between 6606-6627
2- Consolidation between 6581-6595
3- Whole day actual trading between 6581-6627

Conclusions from intra day chart analysis 

Whatsoever happened today all that was told yesterday in Technical Analysis and Market Outlook(26-03-2014):-

1- Intraday charts of today are showing some selling indications 
2- therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction
3- if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595

As huge gap up opening was not seen today and intraday correction as well as consolidation was must therefore it was seen and Nifty slipped below 6595 and consolidated below it between 6581-6595. 11 sessions range(6433-6574) was broken out on 24-03-2014 but some selling was also seen above it in last 2 sessions therefore some more consolidation is required for the validity of range break out.

As some selling was seen below 6627 therefore expected that March derivative expiry will not be seen above it and Nifty will trade and prepare for next decisive moves between 6566-6627 in the coming sessions.  

FII Trading Data in Derivatives Segment on 26-Mar-2014

FII & DII trading activity in Capital Market Segment on 26-Mar-2014

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 26-Mar-2014 3965.79 2961.27 1004.52

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 26-Mar-2014 1644.44 2000.55 -356.11

Nifty Spot-Levels & Trading Strategy for 27-03-2014

Nifty Spot-Levels

R3 6672
R2 6649
R1 6625
Avg 6602
S1 6578
S2 6555
S3 6531

Nifty Spot-Trading Strategy

H6 6648     Trgt 2
H5 6637     Trgt 1
H4 6626     Long breakout
H3 6613     Go Short
H2 6609
H1 6605
L1 6596
L2 6592
L3 6588     Long
L4 6575     Short Breakout
L5 6564     Trgt 1
L6 6553     Trgt 2

Nifty(Mar Fut)-Levels & Trading Strategy for 27-03-2014

Nifty(Mar Fut)-Levels

R3 6692
R2 6666
R1 6639
Avg 6613
S1 6586
S2 6560
S3 6533

Nifty(Mar Fut)-Trading Strategy

H6 6665     Trgt 2
H5 6653     Trgt 1
H4 6641     Long breakout
H3 6626     Go Short
H2 6621
H1 6616
L1 6607
L2 6602
L3 6597     Long
L4 6582     Short Breakout
L5 6570     Trgt 1
L6 6558     Trgt 2

Bank Nifty(Mar Fut)-Levels & Trading Strategy for 27-03-2014

Bank Nifty(Mar Fut)-Levels

R3 12717
R2 12664
R1 12607
Avg 12554
S1 12497
S2 12444
S3 12387

Bank Nifty(Mar Fut)-Trading Strategy

H6 12661     Trgt 2
H5 12636     Trgt 1
H4 12611     Long breakout
H3 12581     Go Short
H2 12571
H1 12561
L1 12540
L2 12530
L3 12520     Long
L4 12490     Short Breakout
L5 12465     Trgt 1
L6 12440     Trgt 2

Pre-closing Outlook(26-03-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(26-03-2014)

1- Intraday charts of today are showing some selling indications therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction.
2- if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595

As huge gap up opening was not not today therefore intraday correction was must and it was seen with lowest formation at 6580.60. Fresh selling seen between 6610-6627 today therefore fresh consolidation is required for rally continuation and March derivative expiry will not be seen above 6627.

Mid-session Outlook-2(26-03-2014)

As Nifty could not sustain above intraday lowest of previous outlook therefore correction continuation 

Mid-session Outlook(26-03-2014)

Whole day positive zone trading after gap up opening because strong Global cues but sharp fall from from higher levels and new intraday lowest formation because higher levels selling was seen yesterday and consolidation was also also required. As some supports and cosolidation also seen at lower levels in last half hour therefore sustaining above today lowest will mean rally continuation after higher levels consolidations.