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.

Mid-session Outlook(07-06-2013)

Now trading within first resistance(5943-5956) after lower levels good consolidation between 5900-5917 and trading with almost .50% gains. Indian markets completely out performed Global cues because sustaining at intraday higher levels while Dow's Futures slipped more than 33 points as well as most Asian markets are trading in Red.

Certainly emergence of rally expectations after 'ABC' correction completion and confirmation will be after sustaining above next resistance(5960-5981)

Technical Analysis and Market Outlook(07-06-2013)

Nifty-Intra Day Chart (06-Jun-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Firstly more than 5 hours up moves after lower levels good supports between 5870-5890.
2- Slipping in last hour after higher levels selling between 5943-5956.
3- Whole day actual trading between 5870-5956.

Conclusions from intra day chart analysis 

Corrective Wave-C of corrective 'ABC' continuation toward its next target at 5841.10 but following consolidation patterns with lower levels supports seen during previous sessions therefore correction completion will also be considered above 5841.10:-

1- Support between 5916-5932 on 03-06-2013
2- Down moves in Bullish Falling Channel with Bullish Falling Wedge formation within it on 05-06-2013
3- Good supports between 5870-5890 on 06-06-2013 amid most depressing Global markets and Indian Rupee near all time lows.

Selling also seen in previous sessions at higher levels:-

1- Good selling between 5960-5981 on 04-06-2013.
2- Selling between 5943-5956 on 06-06-2013.

Although good supports at lower levels but equally good selling also in last 4 sessions between 5870-5981 therefore Indian markets will remain sideways today between mentioned range and prepare for next trend. Let preparation process complete and intraday charts start to show clear formations then will be updated accordingly. Finally sustaining beyond 5870-5981 should also be watched for deeper correction correction below 5870 or rally beginning after 'ABC' correction completion above 5981.   

We are continuously suggesting  well in advance from intraday charts analysis before the beginning of next moves for the last more than 3 years and will do it again but no gossiping never guessing and whatsoever market suggest,only that is always updated. 

FII Trading Data in Derivatives Segment on 06-Jun-2013

FII & DII trading activity in Capital Market Segment on 06-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 06-Jun-2013 2088.43 2358.9 -270.47

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 06-Jun-2013 1033.05 734.97 298.08

Nifty Spot-Levels & Trading Strategy for 07-06-2013

Nifty Spot-Levels

R3 6048
R2 6002
R1 5961
Avg 5915
S1 5874
S2 5828
S3 5787

Nifty Spot-Trading Strategy

H6 6008     Trgt 2
H5 5988     Trgt 1
H4 5968     Long breakout
H3 5944     Go Short
H2 5936
H1 5928
L1 5913
L2 5905
L3 5897     Long
L4 5873     Short Breakout
L5 5853     Trgt 1
L6 5833     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 07-06-2013

Nifty(Jun Fut)-Levels

R3 6068
R2 6018
R1 5977
Avg 5927
S1 5886
S2 5836
S3 5795

Nifty(Jun Fut)-Trading Strategy

H6 6027     Trgt 2
H5 6006     Trgt 1
H4 5986     Long breakout
H3 5961     Go Short
H2 5952
H1 5944
L1 5927
L2 5919
L3 5910     Long
L4 5885     Short Breakout
L5 5865     Trgt 1
L6 5844     Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 07-06-2013

Bank Nifty(Jun Fut)-Levels

R3 12820
R2 12652
R1 12527
Avg 12359
S1 12234
S2 12066
S3 11941

Bank Nifty(Jun Fut)-Trading Strategy

H6 12701     Trgt 2
H5 12632     Trgt 1
H4 12564     Long breakout
H3 12483     Go Short
H2 12456
H1 12429
L1 12376
L2 12349
L3 12322     Long
L4 12241     Short Breakout
L5 12173     Trgt 1
L6 12104     Trgt 2

Pre-Closing Outlook(06-06-2013)

When Us markets were more than 1.25% down then following line was told today at 12:17 AM in Technical Analysis and Market Outlook(06-06-2013)

sustaining below 5886 should be firstly watched for next down moves confirmations because good supports above it in previous sessions. 

Importance of 5886 was repeated many times in previous Outlooks today and Nifty could not sustain below it despite weakness in Asian markets and Indian Rupee trading near all time lows. Result is very much clear and Nifty recovered more than 75 points from lower levels today. As good consolidation today therefore possibility of on going corrective Wave-C completion possibility turned alive and sustaining above next immediate resistance(5960-5981) should be watched in the coming sessions for confirmations.

Mid-session Outlook(06-06-2013)

Good buying and confirm supports at lower levels and until Nifty will not sustain below today lowest(5870) till then next down moves will not be considered. Support between 5916-5932 on 03-06-2013 but 3 hours mixed Patterns formations seen near about this range between 5913-5934 on 05-06-2013 and good selling seen between 5960-5981 on 04-06-2013 therefore next trend deciding range is 5870-5981 because above mentioned lower levels supports and higher levels selling within it.

On going Wave-C retracement possibility up to 5841.10 was told on 03-06-2013 and today lowest formation at 5869.50. As good consolidation seen above it today therefore correction completion possibility will be kept in mind. 

Above mentioned supports and resistances between 5870-5981 therefore Indian markets will prepare for next trend within this range and sustaining beyond this range should be firstly watched for on going corrective Wave-C completion/continuation. 

No gossiping never guessing and whatsoever market suggest,only that is updated. 

Post-open Outlook-2(06-06-2013)

As intraday charts patterns formations showed good supports above 5886 therefore its importance was told in all previous Outlooks and and Nifty is now trading above it after recovery from lower levels despite Indian Rupee trading near all time lows. 

Sentiment is most weak today and sustaining beyond 5886 should be firstly watched for next trend confirmations. 

Post-open Outlook(06-06-2013)

Weakness deepened in all Asian markets and some turned more than 1% down during last one hour as well as Indian Rupee also weakened by 23 paisa today and sentiment is weak and Nifty is trading hovering around 5886. Importance of 5886 has already been updated in both previous Outlooks and firstly sustaining it beyond should be watched for next immediate moves confirmations.

As on going Wave-C may retrace up to 5841.10 therefore it will be next target after valid break down below 5886.

Pre-open Outlook(06-06-2013)

Although deep down closing of US markets yesterday but Asian markets have not reacted in such Bearish manner and most are not so much down therefore sentiment is marginally depressed and firstly valid break out of yesterday trading range(5886-5934) should be firstly watched today for next trend confirmations because good supports were seen at the lower levels of this range yesterday.

Detailed analysis for today trading has already been updated in Technical Analysis and Market Outlook(06-06-2013) 

Correction in Previous Outlook

"Bullish Rising Wedge formation" has been written by mistake and right technical term is 

"Bullish Falling Wedge formation"

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

Nifty-Intra Day Chart (05-Jun-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel with Bullish Rising Wedge formation within it.
2- Mixed Patterns between 5913-5934 in last more than 3 hours.
3- Whole day actual trading between 5886-5934

Conclusions from intra day chart analysis 

Firstly down moves in Bullish Falling Channel with Bullish Rising Wedge formation as well as out perormance against Global markets and up moves despite gap down weak opening of European markets with lower levels supports therefore clear signals of lower levels strength today but last more than 3 hours trading with Mixed Patterns formations therefore requirement of confirmations through following levels for immediate next moves.

1- As good supports above 5886 today therefore until Nifty will not sustain below it till then next down moves will not be considered.
2- Support between 5916-5932 on 03-06-2013 and supports seen below it today therefore valid break out above 5932 will be strong indication of on going correction completion.
3- Good selling between 5960-5981 on 04-06-2013 therefore correction completion confirmation will be only after sustaining above 5981.
4- Mixed Patterns between 5913-5934 in last more than 3 hours today and valid break out of this range will be next moves first indication.

Following line was told with calculation of 5841.10 on 03-06-2013 in Mid-session Outlook:-

on going Wave-C may retrace up to 5841.10(6133.75-292.65).

As good supports at lower level seen in previous sessions therefore breaking down  confirmation of above mentioned supports is also required for next down moves toward 5841.10

US markets are trading more than 1.25% down at this moment and such weak closing will mean high possibility of depressing Asian markets tomorrow morning and dampening of sentiments. Corrective Wave-C is already continued and such Bearish cues may drag down Indian market also but sustaining below 5886 should be firstly watched for next down moves confirmations because good supports above it in previous sessions. 

FII Trading Data in Derivatives Segment on 05-Jun-2013

FII & DII trading activity in Capital Market Segment on 05-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 05-Jun-2013 2305.86 2217.37 88.49

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 05-Jun-2013 790.34 890.09 -99.75

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

Nifty Spot-Levels

R3 5996.33
R2 5965.67
R1 5944.33
PIVOT 5913.67
S1 5892.33
S2 5861.67
S3 5840.33

Nifty Spot-Trading Strategy

H6 5975     Trgt 2
H5 5963     Trgt 1
H4 5951     Long breakout
H3 5937     Go Short
H2 5932
H1 5927
L1 5918
L2 5913
L3 5908     Long
L4 5894     Short Breakout
L5 5882     Trgt 1
L6 5870     Trgt 2

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

Nifty(Jun Fut)-Levels

R3 6015
R2 5983
R1 5960
Avg 5928
S1 5905
S2 5873
S3 5850

Nifty(Jun Fut)-Trading Strategy

H6 5993     Trgt 2
H5 5980     Trgt 1
H4 5968     Long breakout
H3 5953     Go Short
H2 5948
H1 5943
L1 5932
L2 5927
L3 5922     Long
L4 5907     Short Breakout
L5 5895     Trgt 1
L6 5882     Trgt 2

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

Bank Nifty(Jun Fut)-Levels

R3 12532
R2 12448
R1 12379
Avg 12295
S1 12226
S2 12142
S3 12073

Bank Nifty(Jun Fut)-Trading Strategy

H6  12464    Trgt 2
H5  12429    Trgt 1
H4  12394    Long breakout
H3  12352    Go Short
H2  12338
H1  12324
L1  12295
L2  12281
L3  12267    Long
L4  12225    Short Breakout
L5  12190    Trgt 1
L6  12155    Trgt 2

Mid-session Outlook-3(05-06-2013)

When Indian markets were near lower levels today then following lines were told in Mid-session Outlook:-

1- Indian markets are out performing today and trading only .30% down as well as Mid cap and Small cap Indices are in Green.
2- Indian markets are outperforming today therefore valid break of today trading range(5883-5921) should be firstly watched for next immediate moves confirmations.

Last 1 hour intraday charts are showing consolidation patterns formations therefore high possibility of correction completion today and confirmation will be after sustaining above 5932.