Nifty Spot-Levels & Trading Strategy for 28-01-2013

Nifty Spot-Levels


R3 6164
R2 6122
R1 6098
Avg 6056
S1 6032
S2 5990
S3 5966

Nifty Spot-Trading Strategy

H6 6140     Trgt 2
H5 6125     Trgt 1
H4 6110     Long breakout
H3 6092     Go Short
H2 6086
H1 6080
L1 6067
L2 6061
L3 6055     Long
L4 6037     Short Breakout
L5 6022     Trgt 1
L6 6007     Trgt 2

Nifty(Jan Fut)-Levels & Trading Strategy for 28-01-2013

Nifty(Jan Fut)-Levels

R3 6166
R2 6124
R1 6098
Avg 6056
S1 6030
S2 5988
S3 5962

Nifty(Jan Fut)-Trading Strategy

H6 6141     Trgt 2
H5 6126     Trgt 1
H4 6110     Long breakout
H3 6091     Go Short
H2 6085
H1 6079
L1 6066
L2 6060
L3 6054     Long
L4 6035     Short Breakout
L5 6019     Trgt 1
L6 6004     Trgt 2

Bank Nifty(Jan Fut)-Levels & Trading Strategy for 28-01-2013

Bank Nifty(Jan Fut)-Levels

R3 12971

R2 12853

R1 12781

Avg 12663

S1 12591

S2 12473

S3 12401

Bank Nifty(Jan Fut)-Trading Strategy

H6 12901     Trgt 2 

H5 12857     Trgt 1

H4 12813     Long breakout 

H3 12761     Go Short 

H2 12743

H1 12726

L1 12691

L2 12674

L3 12656     Long 

L4 12604     Short Breakout 

L5 12560     Trgt 1 

L6 12516     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Jan 28 to Feb 01,2013)

Nifty Spot-Weekly Levels

R3 6207
R2 6154
R1 6114
Avg 6061
S1 6021
S2 5968
S3 5928

Nifty Spot-Weekly Trading Strategy 

H6 6168     Trgt 2
H5 6146     Trgt 1
H4 6125     Long breakout
H3 6099     Go Short
H2 6091
H1 6082
L1 6065
L2 6056
L3 6048     Long
L4 6022     Short Breakout
L5 6001     Trgt 1
L6 5979     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(Jan 28 to Feb 01,2013)

Bank Nifty Spot-Weekly Levels

R3 13031
R2 12890
R1 12791
Avg 12650
S1 12551
S2 12410
S3 12311

Bank Nifty Spot-Weekly Trading Strategy 

H6 12936     Trgt 2
H5 12880     Trgt 1
H4 12825     Long breakout
H3 12759     Go Short
H2 12737
H1 12715
L1 12671
L2 12649
L3 12627     Long
L4 12561     Short Breakout
L5 12505     Trgt 1
L6 12449     Trgt 2

Mid-session Outlook-4(25-01-2013)

As more indications of consolidations therefore up move above 6035 expectations was updated in Mid-session Outlook-2(25-01-2013) and it was seen also but immediately after that Bearish Rising Wedge formation also developed therefore valid break out confirmation was required and it has been received through sustaining above 6035.

8 Sessions sideways trading between 6000-6100 with resistances between 6068-6100 and now Nifty is trading at lower levels of this range. Complete consolidation is required for sustaining above 6100. Follow up moves within and near about mentioned resistance range should be watched for the prospects of next rally above 6100 or again range bound market within 6000-6100.

Mid-session Outlook-3(25-01-2013)

Break out and trading above 6035 but showing Bearish Rising Wedge formation therefore having doubt on sustaining above 5035.

For precaution valid break out above should also be watched for confirmations.

Mid-session Outlook-2(25-01-2013)

Today first 2 hours trading between 6015-6035 with mixed patterns formations but more indications of consolidations therefore up move above 6035 is expected and for precaution valid break out above should also be watched for confirmations.

Mid-session Outlook(25-01-2013)

Although Indian markets closed in Red with closing at lowest of the day yesterday but lower levels supports and intraday consolidation patterns were also seen therefore following lines were told in previous Outlook yesterday:-

Follow up moves will be firstly watched tomorrow for confirmation of next moves beyond 6000-6020,its valid break out will mean following moves:-

1- Deeper correction possibility below 6000 or
2- Sideways market(6000-6100) above 6020.

Today first 2 hours trading between 6015-6035 with mixed patterns formations and most time trading between 6025-6035 but not showing any clear technical positions therefore confirmations required through firstly this range break out and after that 6000-6035. 

Technical Analysis and Market Outlook(25-01-2013)

Nifty-Intra Day Chart (24-Jan-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Good support between 6011-6019
2- Consolidation Patterns between 6020-6033
3- Down moves from higher levels without selling patterns. 
4- Whole day actual trading between 6011-6045

Conclusions from intra day chart analysis

Following lines told today at 06:10 AM in "Finally Big Correction after sideways Market"

A- Immediate Resistance and supports are as follows:-

1- Resistances between 6068-6100
2- Supports between 6000-6020

B- Under whatsoever Bullish or Bearish sentiment but Nifty will firstly trade between 6000-6100 in the coming session and prepare for next moves,its valid break out will give following conclusions:-

1- Above 6100 will mean slow up moves maximum up to 6331.
2- Below 6000 will mean sharp down moves with deeper correction possibility.

Nifty traded whole day within above mentioned range between 6007.85-6065.30 today and traded most time within above mentioned supports range(6000-6020) as well as closed within it at 6019.35. Although Indian markets traded whole day in Red and also closed negative after slipping from intraday higher levels but selling patterns were not seen today and on the other hand lower levels supports as well as consolidation patterns also seen today.

Finally Big Correction will be seen and its beginning first strong indication will be valid break down of 6000 but supports seen within it today. As selling patterns formation not seen within it today therefore 6000 breaking down can not be projected at this moment and follow up moves will be firstly watched tomorrow for confirmation of next moves beyond 6000-6020,its valid break out will mean following moves:-

1- Deeper correction possibility below 6000 or 
2- Sideways market(6000-6100) above 6020.

FII & DII trading activity in Capital Market Segment on 24-Jan-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 24-Jan-2013 4522.58 3496.26 1026.32

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 24-Jan-2013 1198.24 1950.5 -752.26

Indian Stock Markets Closing Reports(24-Jan-2013)

Main features of today trading are as follows

1- Benchmark Indices closed in Red.
2- All Indices closed in Red and some closed in deep Red but CNX FMCG and CNX IT closed in Green.
3- Black Candle formation.

Ratios

Index Options Put Call Ratio: 1.04
Total Options Put Call Ratio: 0.98
Nifty P/E Ratio(24-Jan-2013): 18.12

Advances & Declines

BSE Advances :   706
BSE Declines : 2,175
NSE Advances :   244
NSE Declines : 1,227

Nifty Open Interest Changed Today

Nifty- 5700 CE(Jan)- 2,600(0.29%)
Nifty- 5700 PE(Jan)- 1,057,350(14.24%)

Nifty- 5800 CE(Jan)- 149,250(12.81%)
Nifty- 5800 PE(Jan)- -554,350(-6.59%)

Nifty- 5900 CE(Jan)- 1,146,200(32.55%)
Nifty- 5900 PE(Jan)- -1,260,150(-15.16%)

Nifty- 6000 CE(Jan)- 1,923,650(27.31%)
Nifty- 6000 PE(Jan)- -426,000(-13.76%)

Closing 

Sensex- closed at 19,923.78(-102.83 Points & -0.51%)
Nifty- closed at 6,019.35(-34.95 Points & -0.58%)
CNX Midcap - closed at 8,205.95(-224.05 Points & -2.66%)
CNX Smallcap- closed at 3,618.05(-95.85 Points & -2.58%)

Nifty Spot-Levels & Trading Strategy for 25-01-2013

Nifty Spot-Levels

R3 6111

R2 6088

R1 6053

Avg 6030

S1 5995

S2 5972

S3 5937

Nifty Spot-Trading Strategy

H6 6077     Trgt 2 

H5 6064     Trgt 1

H4 6050     Long breakout 

H3 6034     Go Short 

H2 6029

H1 6024

L1 6013

L2 6008

L3 6003     Long 

L4 5987     Short Breakout 

L5 5973     Trgt 1 

L6 5960     Trgt 2

Nifty(Jan Fut)-Levels & Trading Strategy for 25-01-2013

Nifty(Jan Fut)-Levels

R3 6114

R2 6091

R1 6055

Avg 6032

S1 5996

S2 5973

S3 5937

Nifty(Jan Fut)-Trading Strategy

H6 6078     Trgt 2 

H5 6064     Trgt 1

H4 6051     Long breakout 

H3 6035     Go Short 

H2 6029

H1 6024

L1 6013

L2 6008

L3 6002     Long 

L4 5986     Short Breakout 

L5 5973     Trgt 1 

L6 5959     Trgt 2

Bank Nifty(Jan Fut)-Levels & Trading Strategy for 25-01-2013

Bank Nifty(Jan Fut)-Levels

R3 12818

R2 12754

R1 12659

Avg 12595

S1 12500

S2 12436

S3 12341

Bank Nifty(Jan Fut)-Trading Strategy

H6 12723     Trgt 2 

H5 12687     Trgt 1

H4 12651     Long breakout 

H3 12607     Go Short 

H2 12593

H1 12578

L1 12549

L2 12534

L3 12520     Long 

L4 12476     Short Breakout 

L5 12440     Trgt 1 

L6 12404     Trgt 2

Pre-Closing Outlook(24-01-2013)

Nifty slipped and again moved into next support range(6000-6020) but without any selling pattern formation at higher levels today and firstly valid break out of 6000-6020 will be watched tomorrow for deeper correction confirmation below 6000 or sideways trend above 6020.

Mid-session Outlook-2(24-01-2013)

Firstly more than 1 hour slipping and after that 2 hours lower levels good supports between 6000-6020 as well as consolidations also between 6019-6033 today therefore possibility of again moving into sideways trend between 6000-6100 because today supports above 6000 and previous sessions good selling below 6100.

Expected that Nifty will firstly trade within 6000-6068 and prepare for next moves. Let market prepare for next decisive moves then will be updated according to conclusions from intraday charts patterns formations and till then Nifty will be understood range bound between 6000-6100. 

Mid-session Outlook(24-01-2013)

Although down moves were expected after some more intraday selling but weakness deepened immediately after opening due to negative news from rating agencies and Nifty traded 2 hours between next support range(6000-6020). As sentiment turned depressed and whole market turns Bearish in such mood therefore up moves are being seen after lower levels good supports but again down moves after short covering can not be ruled out.

Expected that Nifty will trade now within 6000-6068,possibility of slipping below 6000 can not be ruled out and view will be Bullish only after complete consolidations and sustaining above 6100.

Post-open Outlook(24-01-2013)

As yesterday last half hour surge was without any lower level consolidations and only a part of Bear market volatility therefore Indian markets slipped immediate after opening and it is weakness indication.

Finally Big Crrection after sideways Market

Nifty-EOD Chart (23-Jan-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-3 continuation(4770.35 on 04-06-2012)
2- Sub Wave-1(5348.55 on 10-07-2012)
3- Sub Wave-2(5032.40 on 26-07-2012)
4- Sub Wave-3(5815.35 on 05-10-2012)
5- Sub Wave-4(5548.35 on 20-11-2012)
6- Sub Wave-5 of Wave-3 is on.

Conclusions from EOD chart analysis 

Wave-3 continuation begun from 4770.35 and now its Sub Wave-5 is contimued with above mentioned 2 Bearish formations as well as indicators are showing negative divergence also therefore Indian markets are mature for that correction which will correct;-

1- Minimum 38.2% of Whole Wave-3 up move from 4770.35.
2- Sub Wave-5 started from 5548.35 and it will be completely corrected.

Its detailed analysis have already been updated in following topics,Just click following topic link and understand the calculation of Wave-3 targets:-

Market Cautious after Indo-Pak Cross Border Firing 

Nifty-Intra Day Chart (23-Jan-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 6052-6069
2- Support at 5021
3- Strong recovery in last half hour.
4- Whole day actual trading between 5021-6069 

Conclusions from intra day chart analysis 

High volatility through firstly selling and strong recovery in last half hour after getting support at 5021. Whole day trading within that most crucial range(5020-6068) about which we told many times on 23-01-2013 and reacted in following manner:-

Following line was told at 08:15 AM today in Technical Analysis and Market Outlook(23-01-2013):-

"Expected that Nifty will firstly trade and prepare for next moves between 6020-6068"

Firstly just watch the accuracy of our levels that Nifty traded between 6021.15-6069.80 today

Short term correction was expected and it was seen also but as soon as we saw consolidation from last 1 hour intraday charts then we cover our all shorting positions,its live proof is that we posted our Put Option covering message at  02:48 PM

We covered NIFTY-Jan Put Option(6000) at Rs 28/- and that is now trading at Rs 16/-

6020 Was told many times today and Nifty reversed from 6021.15 and it is Short term correction completion strong indication.

Conclusions (After Putting All Studies Together)

Daily Charts are suggesting that Indian markets are at the verge of Big correction and market is preparing also for it through above mentioned formation of 2 Bearish formations near the top of on going rally. Immediate Resistance and supports are as follows:-

1- Resistances between 6068-6100
2- Supports between 6000-6020

As volatility remains high in selling markets therefore last half hour surge on 23-01-2013 will only mean Short term correction completion and any Bullish move will be considered only after completely sustaining above 6100. Although finally deeper correction will be seen in Intermediate term but market will firstly trade and prepare for next moves between 6000-6100 because strong resistances and supports within this range.

Under whatsoever Bullish or Bearish sentiment but Nifty will firstly trade between 6000-6100 in the coming session and prepare for next moves,its valid break out will give following conclusions:-

1- Above 6100 will mean slow up moves maxinun upto 6331.
2- Below 6000 will mean sharp down moves with deeper correction possibility.

FII & DII trading activity in Capital Market Segment on 23-Jan-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 23-Jan-2013 3525.59 2722.97 802.62

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 23-Jan-2013 952.28 1804.61 -852.33