Bank Nifty(Apr Fut)-Levels & Trading Strategy for 08-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12067
R2 11971
R1 11886
Avg 11790
S1 11705
S2 11609
S3 11524

Bank Nifty(Apr Fut)-Trading Strategy

H6 11983     Trgt 2
H5 11942     Trgt 1
H4 11900     Long breakout
H3 11850     Go Short
H2 11834
H1 11817
L1 11784
L2 11767
L3 11751     Long
L4 11701    Short Breakout
L5 11659     Trgt 1
L6 11618     Trgt 2

Pre-closing Outlook(07-04-2011)

Followimg lines were told in Pre-open Outlook today:-

"Firstly trading will be betweeen 5880-5915"

Nifty traded most of the time between mentioned range. Intra day consolidation and support developed between 5867-5680 today and when up moves started then rally confirmation levels(5910) was posted for traders safety in Mid-session Outlook and Nifty reversed without giving rally confirmations.

Market is range bound near 5900 and preparing for decisive big moves within 5855-5945 and selling at higher levels and buying at lower levels seen within this range. Crossing and sustaining above 5945 is expected but final conclusion well be drawn after coming sessions intra day charts analysis.

Mid-session Outlook(07-04-2011)

Intra day consolidation and support developed between 5867-5680 today. Up moves started and first confirmation rally is above 5910

Post-open Outlook(07-04-2011)

As selling signals yesterday therefore slipping was expected today. Selling signals between 5880-5910 was told during trading hours yesterday and base formations between 5857-5870 was told on 05-04-2011. Nifty moved below 5880 and got intraday first support near 5870 today. 5857-5870 is first support whole rally is safe above it. Follow up moves today will decide next moves today. I clearly mean to day that:-

1- Follow up selling today will mean breaking down below 5855 and deeper correction.
2- Consolidation today will mean yesterday started very short term correction completion.

Nifty is trading between last 2 days ranges and break out of these ranges will give next moves first strong indication;-

05-04-2011- 5857-5870(Base formation and support)
06-04-2011- 5880-5910(selling signals)

Pre-Open Market Outlook(07-04-2011)

Technical Positions,today Outlook and next possibilities have already been posted in following topic with 1 Chart yesterday therefore not being repeated today:-

"Post-closing Report(06-04-2011) & Tomorrow Outlook"

It was clearly told during trading hours yesterday that intraday charts are showing selling signals between 5880-5910 and supressed sentiments today due to weak Asian markets and hike in Crude rates in internetional markets.

Base formation and support between 5857-5870 on 05-04-2011 and deeper correction confirmation point will be below 5855. Firstly trading will be betweeen 5880-5915 and next moves confirmation range is sustaining beyond 5855-5945.

As selling signals yesterday therefore dipping is possible after subdued weaker sentiment today morning and today follow up selling will mean deeper correction. Final views will be formed after watching today intra day charts.

Post-closing Report(06-04-2011) & Tomorrow Outlook

Intra day correction,Nifty traded most of the time between 5885-5915 with selling signals and many pivotal stocks also showed intraday selling patterns today. Whole market or most of the market is not indicating selling but on the other hand suggesting buying. Final conclusion from today intra day patternd is that patterns are mixed and more preparation is required in the coming sessions for any side decisive moves.

Put Call Ratio : 1.03

Advances & Declines:

NSE ADVANCES : 1780
NSE DECLINES : 1167
BSE ADVANCES :  864
BSE DECLINES :  549

Nifty Open Interest Changed Today:-

Nifty- 5800 CE(28APR2011)- +178750(+4.34%)
Nifty- 5800 PE(28APR2011)- +443800(+8.99%)

Nifty- 5900 CE(28APR2011)- +691000(+14.96%)
Nifty- 5900 PE(28APR2011)- +507100(+18.51%)

Nifty- 6000 CE(28APR2011)- +561650(+9.24%)
Nifty- 6000 PE(28APR2011)- +68600(+3.84%)

Closing :-

Nifty- closed at 5891.75(-18.30 Points & -0.31%)
Sensex- closed at 19612.20(-74.62 Points & -0.38% )
CNX MIDCAP - closed at 8342.00(+36.00 Points & +0.43%)
BSE SMALL CAP- closed at 8786.94(+68.22 Points & +0.78%)

Nifty Intra Day Chart of Today:-

Just click on chart for its enlarged view

Tomorrow(07-04-2011) Outlook

Mixed formations today and it means that Indian markets are not prepared for any side decisive moves and Nity will first prepare for next moves within 5885-5915.
  
Following range break out and sustaining beyond will give following conclusions:-

1 1st range is 5885-5915 and its break out will be strong confirmation of testing of next higher(5945)/lower(5855) levels.

2- 2nd range is 5855-5945 and its break out direction will be first derived from break out of above mentioned 1st range. Break out of this range will decide following next moves:-

1- Sustaining above 5945 will mean 6120 fast.
2- Sustaining below 5855 will mean deeper correction

As sentiment was heated,Indicators were overbought therefore very short term correction was expected and seen. Firstly trading between 5885-5915,finally consolidation between 5855-5945 and after that rally above 5915 expected in the coming sessions. As mixed patterns therefore for precaution break out of 5885-5915 will be watched also.

Next Big Moves Confirmations ?

Just click on chart for its enlarged view

Nifty traded most of the time between 5885-5915 today and selling signals observed between this range. At lower levels immediate support and base formation is between 5857-5870 yesterday.

Following range break out and sustaining beyond will give following conclusions:-

1 1st range is 5885-5915 and its break out will be strong confirmation of testing of next higher(5945)/lower(5855) levels.

2- 2nd range is 5855-5945 and its break out direction will be first derived from break out of above mentioned 1st range. Break out of this range will decide following next moves:-

1- Sustaining above 5945 will mean 6120 fast.

2- Sustaining below 5855 will mean deeper correction

Although selling signals between 5885-5915 today but I am expecting consolidation and finally crossing of 5945 in the coming sessions. Above levels have been given for safety also.

FII & DII trading activity in Capital Market Segment on 06-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 06-Apr-2011 2856.44 2327.97 528.47

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 06-Apr-2011 1118.81 1649.86 -531.05

Nifty Spot-Levels & Trading Strategy for 07-04-2011

Nifty Spot-Levels

R3 6010
R2 5977
R1 5934
Avg 5901
S1 5858
S2 5825
S3 5782

Nifty Spot-Trading Strategy

H6 5967     Trgt 2
H5 5950     Trgt 1
H4 5932     Long breakout
H3 5911     Go Short
H2 5904
H1 5897
L1 5884
L2 5877
L3 5870     Long
L4 5849     Short Breakout
L5 5831     Trgt 1
L6 5814     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 07-04-2011

Nifty(Apr Fut)-Levels

R3 6051
R2 6011
R1 5960
Avg 5920
S1 5869
S2 5829
S3 5778

Nifty(Apr Fut)-Trading Strategy

H6 6001     Trgt 2
H5 5980     Trgt 1
H4 5960     Long breakout
H3 5935     Go Short
H2 5926
H1 5918
L1 5901
L2 5893
L3 5884     Long
L4 5859     Short Breakout
L5 5839     Trgt 1
L6 5818     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 07-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12041
R2 11969
R1 11877
Avg 11805
S1 11713
S2 11641
S3 11549

Bank Nifty(Apr Fut)-Trading Strategy

H6 11949     Trgt 2
H5 11912     Trgt 1
H4 11875     Long breakout
H3 11830     Go Short
H2 11815
H1 11800
L1 11769
L2 11754
L3 11739     Long
L4 11694     Short Breakout
L5 11657     Trgt 1
L6 11620     Trgt 2

Pre-closing Outlook(06-04-2011)

Nifty traded most of the time between 5880-5910 today and selling signals seen between this range today. At lower levels immediate support range is 5857-5870. More or less patterns are mixed and market requires more time for break out of 5855-5940 for decisive moves.

Expected that Nifty will again trade and prepare for next moves within 5855-5940 and final conclusions should be drawn after its break out.

Mid-session Outlook-3(06-04-2011)

Intraday charts are showing selling signals between 5880-5910 today. Nifty is trading at 5893 and first confirmation will be mentioned range break out.

Mid-session Outlook-2(06-04-2011)

some stocks selling, mixed Trading patterns and today consolidation demand within 5855-5940 was told in 5 previous outlooks.For this following lines were told:-

1- Most Indices patterns and most pivotal stocks are showing consolidations but some stocks intraday patterns showed selling formations also today.
2- As selling in some pivotal stocks today therefore today range(5855-5920) will be watched first
3- follow up buying tomorrow will mean fresh strong rally in the coming sessions
4- Nifty next move confirmation range is 5855-5940 and Nifty will prepare for next moves within range first.
5-Trading patterns were mixed yesterday and markets require clear formations for decisive break out.

Base formation within 5857-5870 yesterday and next move confirmation range is 5855-5940. If Nifty moves below 5855 then expect deeper correction and sharp surges will be seen above 5940. Market is preparing within 5855-5940 and expect big moves beyond this range.

Mid-session Outlook(06-04-2011)

Nifty crossed 5940,could not sustain above,faced resistance and slipped. As doubt therefore sustaining above 5940 condition was told in Post-open Outlook and also cautioned at 5932 in Post-open Outlook-2.

Following lines were told in Pre-Open Market Outlook today and should be kept in mind for deciding next moves:-

1- Nifty next move confirmation range is 5855-5940 and Nifty will prepare for next moves within range first.

2-Trading patterns were mixed yesterday and markets require clear formations for decisive break out.

Post-open Outlook-2(06-04-2011)

It was clearly told today:-

"sustaining above 5940 will mean strong rally toward 6120"

Nifty slipped below 5940 and trading at 5932. Let markets prepare and sustain above 5940 then draw final conclusion.

Post-open Outlook(06-04-2011)

Market showed strength after opening today and crossed 5940, sustaining above 5940 will mean strong rally toward 6120.

Pre-Open Market Outlook(06-04-2011)

Technical Positions,today Outlook and next possibilities have already been posted in following topic with 2 Charts in my Blog yesterday therefore not being repeated today:-

"Post-closing Report(05-04-2011) & Tomorrow Outlook"

As Nifty achieved 5911(told on 25-03-2011) target and Nifty was facing resistance at falling trend line therefore 4 intraday outlooks were posted in my blog yesterday and clearly told for base formations(5857-5870) and after that last hours up move begun yesterday. Mentioned base formations range is today first support.

Nifty next move confirmation range is 5855-5940 and Nifty will prepare for next moves within range first. Trading patterns were mixed yesterday and markets require clear formations for decisive break out for following moves:-

1- Crossing 5940 will mean fast rally toward 6120
2- Dipping below 5855 will mean deeper correction.

Let market prepare then next immediate next moves will be decided from intraday charts analysis of coming sessions.

Post-closing Report(05-04-2011) & Tomorrow Outlook

Market is as follows after today closing;-

Intraday correction and recovery from lower levels seen today. Most Indices patterns and  most pivotal stocks are showing consolidations but some stocks intraday patterns showed selling formations also today.

Nifty trading range- 5857-5920
Nifty Candle- Bullish Hammer
Nifty Support and Base formation between- 5857-5870 
Nifty Intra day trading patterns- Consolidation

Put Call Ratio : 1.06

Advances & Declines:

NSE ADVANCES : 987
NSE DECLINES : 436
BSE ADVANCES : 1998
BSE DECLINES : 944

Nifty Open Interest Changed Today:

Nifty- 5800 CE(28APR2011)- +503550(+13.09%)
Nifty- 5800 PE(28APR2011)- +689600(+15.38%)

Nifty- 5900 CE(28APR2011)- +1774750(+58.56%)
Nifty- 5900 PE(28APR2011)- +171250 (+6.47%)

Closing :-

Nifty- closed at 5,910.05(+1.60 Points & +0.03%)
Sensex- closed at 19,686.82(-14.91 Points & -0.08% )
CNX MIDCAP - closed at 8,306.00(+79.30 Points & +0.96%)
BSE SMALL CAP- closed at 8,712.92(+118.23 Points & +1.38%)

Nifty Intra Day Chart of Today:-

Just click on chart for its enlarged view

Tomorrow(06-04-2011) Outlook

As base formation between 5857-5870 today therefore this range is first support and next immediate resistance is Falling Trend line(shown in EOD chart),after this next resistance range is 6120-6180. 5911 was technical target and that has been achieved and after crossing falling trend line fast blasting rally will be seen.

2-EOD chart showing Falling Trend line

Just click on chart for its enlarged view

As selling in some pivotal stocks today therefore today range(5855-5920) will be watched first of all tomorrow and its break out will decide:


1- Next upmove after today Intra Day correction or 
2- Fresh rally after some deeper correction if Nifty slips below 5855
    
Nifty closed near the top of the day with Bullish Hammer Candle today. It is intraday correction completion signal and follow up buying tomorrow will mean fresh strong rally in the coming sessions after completion of today correction and crossing falling trend line.

FII Trading Data in Derivatives Segment on 05-Apr-2011

FII & DII trading activity in Capital Market Segment on 05-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 05-Apr-2011 2204.31 1481.02 723.29

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 05-Apr-2011 765.69 1294.67 -528.98