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Pull Back Rally next Target at 5335

Technical Analysis and Research For 09-09-2011 & Next Week

Nifty-EOD Chart(08-Sep-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in EOD charts

1- Falling Trendline Cross Over.
2- Sub Wave-1 Started from 4720 and terminated at 5113 after gaining 393 points.
3- Corrective Sub Wave-2 commenced and it completed at 4942 
3- Sub Wave-3 begun from 4942 and 100% gains(393 points) of Wave-1 means target at 5335.

Conclusions

As Indian markets move up nicely after good consolidations today therefore expected that on going rally will remain continued in the coming sessions as well as testing possibility of 5335 can not be ruled out also.

Testing and crossing 5335 means will mean:-

1- Crossing of Inverted Head & Shoulders Neckline at 5230 and it will be trend reversal and strong up move confirmation.
2- Gap Resistance created on 05-08-2011 and its higher level is at 5323. Filling of this gap will mean gaining strength after crossing resistance.
3- Intermediate term trend turning up.
4- Crosing 55 Day EMA.

Sub Wave-3 is on after completion of very short term correction and also moving up after consolidation within crucial resistance range(5120-5220). Once crossing 5220 will mean sharp surge and high possibility of 5335 testing.

As good consolidation till today and almost 50% of the resistance range(5120-5220) with intraday consolidation patterns therefore  expected that Nifty will test 5335 in the coming week.

Indian markets are technically mature for 5335 but if Global markets crash then view will be cautious. 

Nifty-Micro Analysis of Intra Day Chart For 09-09-2011


Nifty-Intra Day Chart(08-Sep-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Consolidation between- 5107-5122(told 3 times during trading hours today)
2- Minor consolidation between 5146-5166 also.
3- Whole day trading between 5102-5169

Conclusions

Pull Back rally is on and fresh rally started after 4 days correction on 06-09-2011. Rally is moving within resistance range(5120-5220) therefore consolidation is required before each rise and it was seen today also. As today rally was expected therefore following line was also told yesterday in Technical Analysis,Researches & Market Outlook(08-09-2011)

Pull Back rally is on and more up moves are demand of on going rally therefore expected that follow up buying will be seen in the coming sessions and markets will move up

Nifty is trading between resistance range(5120-5220) and consolidation is required for an upmove therefore firstly intraday consolidations and then up moves are expected in the coming sessions.

Trend Reversal Bullish Inverted Head & Shoulders Pattern Formation

Technical Analysis and Research For 09-09-2011 & Next Week

Nifty-EOD Chart(08-Sep-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in EOD charts

1- Trend Reversal Inverted Head & Shoulders Pattern under construction
2- Neckline at 5230

Conclusions

Trend Reversal Inverted Head & Shoulders Pattern is under construction,its Neckline is at 5230. Next crucial resistance is just below it within 5120-5220 and Nifty consolidated nicely between this range today.

Pull Back rally is on and expected that follow up consolidation will be seen in the coming sessions and sharp rally will be seen after crossing of Neckline at 5230.

FII & DII trading activity in Capital Market Segment on 08-Sep-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
FII08-Sep-20112228.542214.3614.18


DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
DII08-Sep-2011853.191119.8-266.61

Indian Stock Markets Closing Reports(08-Sep-2011)


Main features of today trading are as follows

1- Bullish Hammer Candle
2- Green closing.
3- Rally after good lower level consolidations.

Ratios

Nifty Put Call Ratio: 1.07
Nifty P/E Ratio(08-Sep-2011): 18.60

Advances & Declines

BSE ADVANCES : 1728
BSE DECLINES : 1125
NSE ADVANCES :  876
NSE DECLINES :  550

Nifty Open Interest Changed Today

Nifty- 5100 CE(Sep)- -50200(-1.08%)
Nifty- 5100 PE(Sep)- +690100(+23.49%)

Nifty- 5200 CE(Sep)- +227600(+4.02%)
Nifty- 5200 PE(Sep)- +380850(+30.16%)

Closing 

Nifty- closed at 5,153.25(+28.60 Points & +0.56%)
Sensex- closed at 17,165.54(+100.54 Points & +0.59% )
CNX MIDCAP - closed at 7,512.80(+4.80 Points & +0.06%)
BSE SMALL CAP- closed at 7,359.33(+52.31 Points & +0.72%)

Nifty Spot-Levels & Trading Strategy for 09-09-2011

Nifty Spot-Levels

R3 5253
R2 5211
R1 5182
Avg 5140
S1 5111
S2 5069
S3 5040

Nifty Spot-Trading Strategy

H6 5224     Trgt 2
H5 5208     Trgt 1
H4 5192     Long breakout
H3 5172     Go Short
H2 5166
H1 5159
L1 5146
L2 5139
L3 5133     Long
L4 5113     Short Breakout
L5 5097     Trgt 1
L6 5081     Trgt 2

Nifty(Sep Fut)-Levels & Trading Strategy for 09-09-2011

Nifty(Sep Fut)-Levels

R3 5276
R2 5225
R1 5190
Avg 5139
S1 5104
S2 5053
S3 5018

Nifty(Sep Fut)-Trading Strategy

H6 5242     Trgt 2
H5 5222     Trgt 1
H4 5202     Long breakout
H3 5178     Go Short
H2 5170
H1 5162
L1 5147
L2 5139
L3 5131     Long
L4 5107     Short Breakout
L5 5087     Trgt 1
L6 5067     Trgt 2

Bank Nifty(Sep Fut)-Levels & Trading Strategy for 09-09-2011

Bank Nifty(Sep Fut)-Levels

R3 10190
R2 10059
R1 9983
Avg 9852
S1 9776
S2 9645
S3 9569

Bank Nifty(Sep Fut)-Trading Strategy

H6 10118     Trgt 2
H5 10070     Trgt 1
H4 10021     Long breakout
H3 9964      Go Short
H2 9945
H1 9926
L1 9889
L2 9870
L3 9851      Long
L4 9794      Short Breakout
L5 9745      Trgt 1
L6 9697      Trgt 2

Mid-session Outlook-4(08-09-2011)

It was told again and again that Indian markets are not mature for any side decisive moves and will firstly prepare for next moves within yesterday trading range. As was told same was seen and Nifty traded first 4 hours within yesterday range trading. Consolidation and intra day supports were also told 3 times in following lines during today market hours:-

Intraday support seen at lower levels and intraday patterns also showing consolidations.

As market could not sustained at higher levels therefore following possibility was also told 2 times for precaution:-

profit booking possibility also can not be ruled out between 5132-5139.

Following conclusive lines  were told in Technical Analysis,Researches & Market Outlook(08-09-2011)

Pull Back rally is on and more up moves are demand of on going rally therefore expected that follow up buying will be seen in the coming sessions and markets will move up.

Supports,consolidations and up moves were told again and again and Indian markets moved up finally and crossed yesterday range. Rally is very much continued accoring to our expectations and more up moves will be seen.

Mid-session Outlook-3(08-09-2011)


It was told again and again that Indian markets are not mature for any side decisive moves and will firstly prepare for next moves within yesterday trading range. As was told 100% same happened and Nifty is trading between mentioned ranges  for the last 4 hours. 

Intraday support seen at lower levels and intraday patterns also showing consolidations but market could not susaineand higher level and profit booking possibility also can not be ruled out between 5132-5139.

As intraday signals are mixed at this moment therefore next moves and trend confirmation crucial ranges should be kept in mind which have already been posted in previous outlooks.

Mid-session Outlook-2(08-09-2011)

Lower levels minor support but not sustaining at higher levels also and profit booking possibility also can not be ruled out between 5132-5139. Following ranges should be kept in mind for deciding next moves;-

1- For next moves first indication- 5098-5140
2- For next moves confirmation- 5085-5153.

Mid-session Outlook(08-09-2011)

Following first trading range for next moves preparation was given in today Pre-open Outlook:-

Nifty will firstly trade and prepare for next moves between 5110-5140

Nifty traded most of the time and prepared for next moves within above mentioned range with first 2 hours high low of 5098.25-5140.70.

First two hours today intraday charts are showing intraday minor support signals at lower levels and consolidation patterns also developed. Crossing 5140 will be first indication and sustaining above 5153 will be next up moves confirmation.

Market and not riped for any side decisive moves and preparing for next moves between 5098-5140 today. Let this process complete then trending market will be seen.

Pre-open Outlook(08-09-2011)

Technical Analysis,Research of EOD,Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained yesterday in following topics with 1 Chart therefore not being repeated:-

Technical Analysis,Researches & Market Outlook(08-09-2011)

Market always moves on its own technicals therefore when DOW Jones was more than 200 points down on 06-09-2011 then we told for yesterday Bullish markets and Indian markets closed more than 1% up. When DOW Jones was more than 200 points up yesterday then we did not told for today Bull markets in above mentioned topic and repeated same views of follow up  Buying/Selling which we had already been expressed in Pre-Closing Outlook(07-09-2011) also.

Higher levels Buying and lower levels selling yesterday therefore range bound market between yesterday trading range(5085-5153) will be seen and Indian markets will prepare for next decisive moves between this range today as well as this range break out will be next moves confirmation.

Nifty will firstly trade and prepare for next moves between 5110-5140 after flat to positive opening and break out of this range will give next moves first indication. Next moves confirmation will be sustaining beyond 5085-5153.

Technical Analysis,Researches & Market Outlook(08-09-2011)

Nifty-Intra Day Chart(07-Sep-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Consolidation(Support) between 5085-5113
2- Up moves in Rising Channel which was broken down in last 45 minutes.
3- Minor Head & Shoulder formation in last 2 hours between 5140-5153.
4- Falling trend line(1st support near 5115)
5- Slow up moves within next crucial Resistance range(5120-5220)
6- Whole day trading between 5085-5153.

Conclusions from today intraday chart

Slow up moves in Rising Channel were seen today but minor selling pattern of Head and Shoulders developed in last 2 hours between 5140-5153 therefore whole day Rising Channel broken down in last 45 minutes and Nifty closed below it also.

Resistances are as follows;-

1- Today selling between 5140-5153
2- Crucial Resistance range(5120-5220)


Only upmoves and continuation of Pull Back Rally was told in all the 5 outlooks which were posted for today market and never told only a single word for down moves. Positive market was told also immediately after Delhi Bomb blast news and up moves seen after that heart breaking incident. Pull Back rally is on but Indian markets are not mature for any side sustained moves today because:-

1- Selling formation and small HNS formation at higher levels today between crucial Resistance range(5120-5220) therefore complete consolidation is must for any up move from today highs. 


2- Pull back rally is on and today 2 hours selling is not sufficient for down moves views formation. Complete selling is also required for moving below today support range(5085-5113)

Conclusions

Lower levels consolidations(5085-5113) and higher levels selling(5140-5153) between today trading range(5085-5153) therefore Indian markets will firstly prepare for next moves and follow up  Buying/Selling in the coming sessions will give next moves indications.

Pull Back rally is on and more up moves are demand of on going rally therefore expected that follow up buying will be seen in the coming sessions and markets will move up. As selling at higher levels today therefore confirmation is required after sustaining above 5113.

FII Trading Data in Derivatives Segment on 07-Sep-2011


FII & DII trading activity in Capital Market Segment on 07-Sep-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
FII07-Sep-20113049.632787.2262.43


DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
DII07-Sep-20111224.71305.51-80.81

Indian Stock Markets Closing Reports(07-Sep-2011)


Main features of today trading are as follows

1- White Candle.
2- All the Indices closed in Green except FMCG.
3- Up moves in Rising Channel.

Ratios

Nifty Put Call Ratio: 1.05
Nifty P/E Ratio(07-Sep-2011): 18.50

Advances & Declines

BSE ADVANCES : 1949
BSE DECLINES : 922
NSE ADVANCES : 1100
NSE DECLINES : 341

Nifty Open Interest Changed Today

Nifty- 5000 CE(Sep)- -410650(-7.23%)
Nifty- 5000 PE(Sep)- +880950(+14.77%)

Nifty- 5100 CE(Sep)- +311500(+6.77%)
Nifty- 5100 PE(Sep)- +919650(+42.36%)

Nifty- 5200 CE(Sep)- +135300(+2.44%)
Nifty- 5200 PE(Sep)- +274250(+27.44%)

Closing 

Nifty- closed at 5,124.65(+60.35 Points & +1.19%)
Sensex- closed at 17,065.00(+202.19 Points & +1.20% )
CNX MIDCAP - closed at 7,508.00(+110.10 Points & +1.49%)
BSE SMALL CAP- closed at 7,307.02(+109.78 Points & +1.53%)

Pre-Closing Outlook(07-09-2011)

Following lines were told for today up moves which proved 100% accurate during trading hours today and slow up moves seen today:-

Next Resistance is between 4120-5220 therefore complete consolidation is required between this range for crossing 5220 and slow up moves may be seen between this range.

Nifty-Intra Day Chart upto 02:48PM(07-Sep-2011):-
Just click on chart for its enlarged view
Slow up moves and Complete consolidation demand was told and same is clear from above intraday chart of Nifty. As complete consolidation not seen therefore market slipped .

Selling formation and small HNS formation seen at higher levels today but it is not sufficient for next moves confirmation. Market is not mature for any side sustained move today and tomorrow follow up Buying/Selling will give next moves indications and confirmations.

Mid-session Outlook(07-09-2011)


Continuation of Pull Back rally was told 11:27:00 PM yesterday also also following conclusive line was updated in Pre-open Outlook today:-

Finally continuation of rally and up moves are expected after initial consolidations.

As was told 100% same happened and Indian markets moved up after first hour consolidation

Bearish views were not updated even after Delhi blast and positive market was told in that grim situation also. Upmoves remained continued after blast new top of the rally formed also today.
.
Cotinuation of Pull Back rally expected after minor intraday corrections.

Blasts in Delhi near High Court

Market is positive but voltality may be seen.

Pre-open Outlook(07-09-2011)

When Dow Jones was trading more than 200 points down yesterday then following bullish views were expressed in Nifty-Micro Analysis of Intra Day Chart For 07-09-2011:-

Indian markets out performed Global markets in last 3 sessions and continuation of rally also expected in the coming sessions

US markets sufficiently recovered from lower levels yesterday therefore sentiment improved and all the Asian markets are positive today morning. Positive zone trading will be seen after Green opening and continuation of rally expected but mixed intraday patterns seen between 5054-5072 yesterday therefore voltality may be seen in the beginning of trading and sustaining above 5072 will be next up moves confirmation.

Next Resistance is between 4120-5220 therefore complete consolidation is required between this range for crossing 5220 and slow upmoves may be seen between this range. Crossing 5220 will mean worst is over and sharp upmoves will be seen above it.

Expected that Nifty will firstly trade between 5065-5110 and this range break out will be next moves confirmation. Finally continuation of rally and up moves are expected after initial consolidations.