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Nifty Spot-Levels & Trading Strategy for 26-12-2011
Nifty Spot-Levels
R3 4823
R2 4793
R1 4753
Avg 4723
S1 4683
S2 4653
S3 4613
Nifty Spot-Trading Strategy
H6 4784 Trgt 2
H5 4768 Trgt 1
H4 4752 Long breakout
H3 4733 Go Short
H2 4726
H1 4720
L1 4707
L2 4701
L3 4694 Long
L4 4675 Short Breakout
L5 4659 Trgt 1
L6 4643 Trgt 2
R3 4823
R2 4793
R1 4753
Avg 4723
S1 4683
S2 4653
S3 4613
Nifty Spot-Trading Strategy
H6 4784 Trgt 2
H5 4768 Trgt 1
H4 4752 Long breakout
H3 4733 Go Short
H2 4726
H1 4720
L1 4707
L2 4701
L3 4694 Long
L4 4675 Short Breakout
L5 4659 Trgt 1
L6 4643 Trgt 2
Nifty(Dec Fut)-Levels & Trading Strategy for 26-12-2011
Nifty(Dec Fut)-Levels
R3 4847
R2 4812
R1 4766
Avg 4731
S1 4685
S2 4650
S3 4604
Nifty(Dec Fut)-Trading Strategy
H6 4801 Trgt 2
H5 4782 Trgt 1
H4 4764 Long breakout
H3 4742 Go Short
H2 4734
H1 4727
L1 4712
L2 4705
L3 4697 Long
L4 4675 Short Breakout
L5 4657 Trgt 1
L6 4638 Trgt 2
R3 4847
R2 4812
R1 4766
Avg 4731
S1 4685
S2 4650
S3 4604
Nifty(Dec Fut)-Trading Strategy
H6 4801 Trgt 2
H5 4782 Trgt 1
H4 4764 Long breakout
H3 4742 Go Short
H2 4734
H1 4727
L1 4712
L2 4705
L3 4697 Long
L4 4675 Short Breakout
L5 4657 Trgt 1
L6 4638 Trgt 2
Bank Nifty(Dec Fut)-Levels & Trading Strategy for 26-12-2011
Bank Nifty(Dec Fut)-Levels
R3 8652
R2 8558
R1 8425
Avg 8331
S1 8198
S2 8104
S3 7971
Bank Nifty(Dec Fut)-Trading Strategy
H6 8520 Trgt 2
H5 8468 Trgt 1
H4 8416 Long breakout
H3 8354 Go Short
H2 8333
H1 8312
L1 8271
L2 8250
L3 8229 Long
L4 8167 Short Breakout
L5 8115 Trgt 1
L6 8063 Trgt 2
R3 8652
R2 8558
R1 8425
Avg 8331
S1 8198
S2 8104
S3 7971
Bank Nifty(Dec Fut)-Trading Strategy
H6 8520 Trgt 2
H5 8468 Trgt 1
H4 8416 Long breakout
H3 8354 Go Short
H2 8333
H1 8312
L1 8271
L2 8250
L3 8229 Long
L4 8167 Short Breakout
L5 8115 Trgt 1
L6 8063 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Dec 26 to Dec 30,2011)
Nifty Spot-Weekly Levels
R3 5039
R2 4901
R1 4807
Avg 4669
S1 4575
S2 4437
S3 4343
Nifty Spot-Weekly Trading Strategy
H6 4955 Trgt 2
H5 4898 Trgt 1
H4 4841 Long breakout
H3 4777 Go Short
H2 4756
H1 4735
L1 4692
L2 4671
L3 4650 Long
L4 4586 Short Breakout
L5 4529 Trgt 1
L6 4472 Trgt 2
R3 5039
R2 4901
R1 4807
Avg 4669
S1 4575
S2 4437
S3 4343
Nifty Spot-Weekly Trading Strategy
H6 4955 Trgt 2
H5 4898 Trgt 1
H4 4841 Long breakout
H3 4777 Go Short
H2 4756
H1 4735
L1 4692
L2 4671
L3 4650 Long
L4 4586 Short Breakout
L5 4529 Trgt 1
L6 4472 Trgt 2
Bank Nifty Spot-Weekly Levels & Trading Strategy(Dec 26 to Dec 30,2011)
Bank Nifty Spot-Weekly Levels
R3 9261
R2 8856
R1 8576
Avg 8171
S1 7891
S2 7486
S3 7206
Bank Nifty Spot-Weekly Trading Strategy
H6 9023 Trgt 2
H5 8846 Trgt 1
H4 8668 Long breakout
H3 8480 Go Short
H2 8417
H1 8354
L1 8229
L2 8166
L3 8103 Long
L4 7915 Short Breakout
L5 7737 Trgt 1
L6 7560 Trgt 2
R3 9261
R2 8856
R1 8576
Avg 8171
S1 7891
S2 7486
S3 7206
Bank Nifty Spot-Weekly Trading Strategy
H6 9023 Trgt 2
H5 8846 Trgt 1
H4 8668 Long breakout
H3 8480 Go Short
H2 8417
H1 8354
L1 8229
L2 8166
L3 8103 Long
L4 7915 Short Breakout
L5 7737 Trgt 1
L6 7560 Trgt 2
Pre-Closing Outlook(23-12-2011)
Following line was told yesterday in Continuation of Rally after Consolidation and Minor Intraday Correction:-
As Bearish pattern in last half hour therefore more consolidation and minor intraday correction is firstly required and tomorrow may be consolidation day
As was told yesterday all that proved 100% accurate today and Indidan markets lost all intraday gains as well as trading more than half pct down. Although market slipped from higher levels but intraday patterns are not showing pure selling patterns and consolidation indications also seen therefore same following line is being repeated which was told in above mentioned topic:-
Pull Back Rally will remain continued in the next week
Mid-session Outlook(23-12-2011)
Dow's Futures is more than 50 points up and most of the Asian markets were also 1% to 2% up therefore Indian markets opened gap up but slipped into Red immediately after opening today and trading with minor gains despite strong Global cues. As this intraday move was expected therefore it was told also in following topic yesterday:-
Continuation of Rally after Consolidation and Minor Intraday Correction
Minor intraday correction has already been seen immediately after opening today. As no clear patterns developed yet therefore today trading range forceful break out and sustaining beyond will be next very short term moves confirmation.
Continuation of Rally after Consolidation and Minor Intraday Correction
Minor intraday correction has already been seen immediately after opening today. As no clear patterns developed yet therefore today trading range forceful break out and sustaining beyond will be next very short term moves confirmation.
Continuation of Rally after Consolidation and Minor Intraday Correction
Nifty-Micro Analysis of Intra Day Chart For 23-12-2011
Nifty-Intra Day Chart(22-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 4635-4663
2- Rising Channel rally
3-Channel broken down in last 10 minutes minor Rising Wedge(Bearish Pattern) formation in last half hour.
4- Whole day trading between 4632-4740
Conclusions from intra day chart analysis
As Bearish pattern in last half hour therefore more consolidation and minor intraday correction is firstly required and tomorrow may be consolidation day but expected that Pull Back Rally will remain continued in the next week.
Nifty-Intra Day Chart(22-dec-2011):-
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| Just click on chart for its enlarged view |
1- Consolidation between 4635-4663
2- Rising Channel rally
3-Channel broken down in last 10 minutes minor Rising Wedge(Bearish Pattern) formation in last half hour.
4- Whole day trading between 4632-4740
Conclusions from intra day chart analysis
As Bearish pattern in last half hour therefore more consolidation and minor intraday correction is firstly required and tomorrow may be consolidation day but expected that Pull Back Rally will remain continued in the next week.
Two Most Crucial Patterns Revival in last 2 Days
Technical Analysis and Research For 23-12-2011
Nifty-EOD Chart(22-Dec-2011):-
Technical Patterns and Formations in EOD charts
1- Nifty entered into 90 sessions trading range(4720-5229) and its existance again revived today
2- Yesterday revival of 90 Sessions trend reversal Broadening Pattern at the bottom of 13 months correction.
Conclusions
When above mentioned two patterns broken down then its confirmation requirement was told in following topic:-
Sustaining beyond 4640 will decide the fate of Bulls and Bears(Weekly Outlook(Dec 19 to Dec 23,2011))
Both patterns revived in two previous sessions and survival confirmation is left through crossing and sustaining above minimum one next resistances between 4780-4838. Last 2 sessions bounce back only and its possibility with 3 expected targets(2 have been achieved) were updated in following topic on 17-12-2011:-
Bounce back Possible Next Monday
Expected that yesterday started rally will remain continued in the coming week after more consolidations and crossing of above mentioned next resistance.
Nifty-EOD Chart(22-Dec-2011):-
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| Just click on chart for its enlarged view |
1- Nifty entered into 90 sessions trading range(4720-5229) and its existance again revived today
2- Yesterday revival of 90 Sessions trend reversal Broadening Pattern at the bottom of 13 months correction.
Conclusions
When above mentioned two patterns broken down then its confirmation requirement was told in following topic:-
Sustaining beyond 4640 will decide the fate of Bulls and Bears(Weekly Outlook(Dec 19 to Dec 23,2011))
Both patterns revived in two previous sessions and survival confirmation is left through crossing and sustaining above minimum one next resistances between 4780-4838. Last 2 sessions bounce back only and its possibility with 3 expected targets(2 have been achieved) were updated in following topic on 17-12-2011:-
Bounce back Possible Next Monday
Expected that yesterday started rally will remain continued in the coming week after more consolidations and crossing of above mentioned next resistance.
Indian Stock Markets Closing Reports(22-Dec-2011)
Main features of today trading are as follows
1- Most of the Indices closed near the top of the day and in Green.
2- Long White Candle.
3- Continuation of rally after intraday consolidation.
Ratios
Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(22-Dec-2011): 17.14
Advances & Declines
BSE ADVANCES : 1553
BSE DECLINES : 1186
NSE ADVANCES : 864
NSE DECLINES : 566
Nifty Open Interest Changed Today
Nifty- 4700 CE(Dec)- -64450(-1.38%)
Nifty- 4700 PE(Dec)- +584100(+11.68%)
Nifty- 4800 CE(Dec)- +981550(+21.22%)
Nifty- 4800 PE(Dec)- +813700(+24.49%)
Closing
Nifty- closed at 4,733.85(+40.70 Points & +0.87%)
Sensex- closed at 15,813.36(+128.15 Points & +0.82% )
CNX MIDCAP - closed at 6,208.75(+88.85 Points & +1.45%)
BSE SMALL CAP- closed at 5,555.50(+38.65 Points & +0.70%)
1- Most of the Indices closed near the top of the day and in Green.
2- Long White Candle.
3- Continuation of rally after intraday consolidation.
Ratios
Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(22-Dec-2011): 17.14
Advances & Declines
BSE ADVANCES : 1553
BSE DECLINES : 1186
NSE ADVANCES : 864
NSE DECLINES : 566
Nifty Open Interest Changed Today
Nifty- 4700 CE(Dec)- -64450(-1.38%)
Nifty- 4700 PE(Dec)- +584100(+11.68%)
Nifty- 4800 CE(Dec)- +981550(+21.22%)
Nifty- 4800 PE(Dec)- +813700(+24.49%)
Closing
Nifty- closed at 4,733.85(+40.70 Points & +0.87%)
Sensex- closed at 15,813.36(+128.15 Points & +0.82% )
CNX MIDCAP - closed at 6,208.75(+88.85 Points & +1.45%)
BSE SMALL CAP- closed at 5,555.50(+38.65 Points & +0.70%)
FII & DII trading activity in Capital Market Segment on 22-Dec-2011
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Nifty Spot-Levels & Trading Strategy for 23-12-2011
Nifty Spot-Levels
R3 4879
R2 4809
R1 4771
Avg 4701
S1 4663
S2 4593
S3 4555
Nifty Spot-Trading Strategy
H6 4843 Trgt 2
H5 4817 Trgt 1
H4 4792 Long breakout
H3 4762 Go Short
H2 4752
H1 4742
L1 4723
L2 4713
L3 4703 Long
L4 4673 Short Breakout
L5 4648 Trgt 1
L6 4622 Trgt 2
R3 4879
R2 4809
R1 4771
Avg 4701
S1 4663
S2 4593
S3 4555
Nifty Spot-Trading Strategy
H6 4843 Trgt 2
H5 4817 Trgt 1
H4 4792 Long breakout
H3 4762 Go Short
H2 4752
H1 4742
L1 4723
L2 4713
L3 4703 Long
L4 4673 Short Breakout
L5 4648 Trgt 1
L6 4622 Trgt 2
Nifty(Dec Fut)-Levels & Trading Strategy for 23-12-2011
Nifty(Dec Fut)-Levels
R3 4908
R2 4833
R1 4790
Avg 4715
S1 4672
S2 4597
S3 4554
Nifty(Dec Fut)-Trading Strategy
H6 4868 Trgt 2
H5 4840 Trgt 1
H4 4812 Long breakout
H3 4780 Go Short
H2 4769
H1 4758
L1 4737
L2 4726
L3 4715 Long
L4 4683 Short Breakout
L5 4655 Trgt 1
L6 4627 Trgt 2
R3 4908
R2 4833
R1 4790
Avg 4715
S1 4672
S2 4597
S3 4554
Nifty(Dec Fut)-Trading Strategy
H6 4868 Trgt 2
H5 4840 Trgt 1
H4 4812 Long breakout
H3 4780 Go Short
H2 4769
H1 4758
L1 4737
L2 4726
L3 4715 Long
L4 4683 Short Breakout
L5 4655 Trgt 1
L6 4627 Trgt 2
Bank Nifty(Dec Fut)-Levels & Trading Strategy for 23-12-2011
Bank Nifty(Dec Fut)-Levels
R3 8855
R2 8637
R1 8515
Avg 8297
S1 8175
S2 7957
S3 7835
Bank Nifty(Dec Fut)-Trading Strategy
H6 8746 Trgt 2
H5 8663 Trgt 1
H4 8580 Long breakout
H3 8486 Go Short
H2 8455
H1 8424
L1 8361
L2 8330
L3 8299 Long
L4 8206 Short Breakout
L5 8122 Trgt 1
L6 8039 Trgt 2
R3 8855
R2 8637
R1 8515
Avg 8297
S1 8175
S2 7957
S3 7835
Bank Nifty(Dec Fut)-Trading Strategy
H6 8746 Trgt 2
H5 8663 Trgt 1
H4 8580 Long breakout
H3 8486 Go Short
H2 8455
H1 8424
L1 8361
L2 8330
L3 8299 Long
L4 8206 Short Breakout
L5 8122 Trgt 1
L6 8039 Trgt 2
Pre-Closing Outlook(22-12-2011)
Intraday consolidation confirmation and with this Pull Back Rally continuations confirmation also
Mid-session Outlook-2(22-12-2011)
Weak opening after negative Asian markets and now up moves after more than 1% up European markets. Although Indian markets slipped after first 2 hours intraday selling but zoomed up after opening of European markets. As last 55 minutes mixed patterns and today first 2 hours selling formations therefore some more consolidation is required.
Following lines of today Post-open Outlook are being repeated for next moves confirmations:-
"Nifty will trade between yesterday range first of all and prepare for next moves. Fresh consolidation is required for continuation of yesterday begun Pull Back rally and it is expected also. Coming hours intraday charts formations and sustaining beyond yesterday trading range(4602-4705) will be next moves confirmation"
Following lines of today Post-open Outlook are being repeated for next moves confirmations:-
"Nifty will trade between yesterday range first of all and prepare for next moves. Fresh consolidation is required for continuation of yesterday begun Pull Back rally and it is expected also. Coming hours intraday charts formations and sustaining beyond yesterday trading range(4602-4705) will be next moves confirmation"
Mid-session Outlook(22-12-2011)
Confirm first 2 hours selling between 4660-4675. and minor down moves within yesterday range will be seen now within yesterday range..
Post-open Outlook(22-12-2011)
Nifty traded last 29 minutes mixed patterns between 4684-4705 and trading much below this range therefore it is weakness signal and profit booking indication within this range yesterday. Good support and consolidation between following ranges in 3 previous sessions;-
1- 4602-4624(21-12-2011)
2- 4560-4590(19-12-2011 and 20-12-2011)
Nifty will trade between yesterday range first of all and prepare for next moves. Fresh consolidation is required for continuation of yesterday begun Pull Back rally and it is expected also. Coming hours intraday charts formations and sustaining beyond yesterday trading range(4602-4705) will be next moves confirmation.
1- 4602-4624(21-12-2011)
2- 4560-4590(19-12-2011 and 20-12-2011)
Nifty will trade between yesterday range first of all and prepare for next moves. Fresh consolidation is required for continuation of yesterday begun Pull Back rally and it is expected also. Coming hours intraday charts formations and sustaining beyond yesterday trading range(4602-4705) will be next moves confirmation.
4693 is Long Term Trend Decider for 2012
Technical Analysis,Researches & Market Outlook
Nifty-EOD Chart(21-Dec-2011):-
Technical Patterns and Formations in EOD charts
1- Wave 1 top at 4693.
2- Strong rally and down moves above 4693 in last 25 months.
2- Closing at 4693.15 on 21-12-2011.
Conclusions
Wave 1 begun from 2252.75 on 27-10-2008 and it completed at 4693.
As per Elliot Wave Theory:-
"The bottom of wave 4 should not dip below the top of wave 1 of the same degree,at least on a closing price level"
But Nifty closed below 4693 in 3 previous sessions and gave strong signal as well as almost confirmation of whole last 3 years waves structure failure. As it was a big development therefore following topic was posted on the same day at 02:29:00 AM on 17-12-2011
25 Months Trend and Waves structure Failure on 16-12-2011
As per our view some more confirmations were required for failure of such huge structure therefore its confirmation demand was also told in above topic. Nifty reversed with strong note on 21-12-2011 and closed exactly at 4693.15 as well as revived the survival hopes of 3 years structure and beginning of impulsive Wave 5 after completion of corrective Wave 4.
Nifty-EOD Chart(21-Dec-2011):-
Technical Patterns and Formations in EOD charts
1- Wave 2 completion at 3919 on 13-07-2009
2- Wave 3 completion at 6338 on 05-11-2010
3- Confirmation required for Wave 4 completion at 4531.15 on 20-12-2011
4- 13 Months Falling Corrective Channel formation
5- No big reversal pattern formation
Conclusions (After Putting All Studies Together)
As no big reversal pattern and 13 months down moves were seen in corrective falling channel therefore it was expected that finally corrective Wave 4 will complete and Wave 5 will commence but whole waves structure broken after slipping below 4693. Nifty closed exactly at 4693.15 on 21-12-2011 and survival of 3 years waves structure hopes revived yesterday therefore first of all only sustaining beyond 4693 should be watched because following implications are confirm beyond 4693:-
1- Below 4693 will mean fresh recounting of Waves structure and crashing of Indian markets like World Trade Centre on 11-09-2001.
2- Above 4693 will mean reincarnation of almost buried impulsive waves 5 to form in all time highs in the coming years.
Nifty-EOD Chart(21-Dec-2011):-
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| Just click on chart for its enlarged view |
1- Wave 1 top at 4693.
2- Strong rally and down moves above 4693 in last 25 months.
2- Closing at 4693.15 on 21-12-2011.
Conclusions
Wave 1 begun from 2252.75 on 27-10-2008 and it completed at 4693.
As per Elliot Wave Theory:-
"The bottom of wave 4 should not dip below the top of wave 1 of the same degree,at least on a closing price level"
But Nifty closed below 4693 in 3 previous sessions and gave strong signal as well as almost confirmation of whole last 3 years waves structure failure. As it was a big development therefore following topic was posted on the same day at 02:29:00 AM on 17-12-2011
25 Months Trend and Waves structure Failure on 16-12-2011
As per our view some more confirmations were required for failure of such huge structure therefore its confirmation demand was also told in above topic. Nifty reversed with strong note on 21-12-2011 and closed exactly at 4693.15 as well as revived the survival hopes of 3 years structure and beginning of impulsive Wave 5 after completion of corrective Wave 4.
Nifty-EOD Chart(21-Dec-2011):-
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| Just click on chart for its enlarged view |
1- Wave 2 completion at 3919 on 13-07-2009
2- Wave 3 completion at 6338 on 05-11-2010
3- Confirmation required for Wave 4 completion at 4531.15 on 20-12-2011
4- 13 Months Falling Corrective Channel formation
5- No big reversal pattern formation
Conclusions (After Putting All Studies Together)
As no big reversal pattern and 13 months down moves were seen in corrective falling channel therefore it was expected that finally corrective Wave 4 will complete and Wave 5 will commence but whole waves structure broken after slipping below 4693. Nifty closed exactly at 4693.15 on 21-12-2011 and survival of 3 years waves structure hopes revived yesterday therefore first of all only sustaining beyond 4693 should be watched because following implications are confirm beyond 4693:-
1- Below 4693 will mean fresh recounting of Waves structure and crashing of Indian markets like World Trade Centre on 11-09-2001.
2- Above 4693 will mean reincarnation of almost buried impulsive waves 5 to form in all time highs in the coming years.
As no big reversal pattern and corrective falling channel in last 13 months down moves therefore expected that firstly Wave 4 correction compleletion confirmation through sustaining above 4693 and then impulsive Wave 5 will get confirmation in the coming year as well as 2012 will prove Bullish year after all corrections completion in 2011.
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