Emergence of selling patterns at higher levels today and next moves confirmation range for today is 6033-6068
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Post-open Outlook(30-01-2013)
As all the Asian markets are in Green and some are trading with good gains therefore sentiment improved and positive zone trading since opening today. Next resistances are between 6068-6110 and supports are between 6000-6033 and expected that Nifty will trade most time between 6033-6068 and prepare for next moves today. As this range valid break out will be next moves first indication therefore should be firstly watched today.
Correction continuation on cards
Nifty-Intra Day Chart (Jan 28 to Jan 29,2013):-
Technical Patterns and Formations in last 2 Sessions intraday charts
1- Selling between 6070-6085 in 2 sessions.
2- Selling between 6100-6110 at higher levels after Credit policy today.
3- Huge volatility after RBI Credit policy
3- 2 Sessions actual trading between 6043-6110
As Negative Divergence in EOD charts and selling in 9 previous sessions therefore following topic was updated on 26-01-2013:-
Correction On 29th Jan or From 1st Week of Feb 2013
As higher levels good selling therefore following topic was posted on 28-01-2013:-
Down Moves after RBI Credit Policy
Although good news of quarter pct rate cut of both Repo and CRR by RBI but we were not bullish and when Nifty was trading above 6100 then told following lines in Mid-session Outlook today:-
"valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations."
Selling and short covering at higher levels on the back of Bullish news lead heated sentiments therefore market could not sustain at higher levels and closed at the bottom of the day today.
9 Sessions selling(resistance) before 25-01-2013 was between 6068-6100 and follow up selling seen within and above this range between 6070-6110 in both previous sessions therefore previous resistances became stronger and telling for more down moves and testing possibility of next supports(6000-6033) in the coming sessions. Correction continuation with Nifty slipping below 6000 and also testing possibility the levels near 5950.
Follow up selling tomorrow will mean consideration of following possibility also:-
"FOMC Meeting is scheduled on January 29-30 and its results will come out in the mid night of 30 Jan. We don't know what will be its outcome but US markets intraday and daily charts are showing selling formations therefore sharp fall in US markets on 30-01-2013 can not be ruled out which may result sharp down moves in Asian and Indian markets on 31st Jan"
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| Just click on chart for its enlarged view |
1- Selling between 6070-6085 in 2 sessions.
2- Selling between 6100-6110 at higher levels after Credit policy today.
3- Huge volatility after RBI Credit policy
3- 2 Sessions actual trading between 6043-6110
Conclusions from 2 Sessions intra day chart analysis
As Negative Divergence in EOD charts and selling in 9 previous sessions therefore following topic was updated on 26-01-2013:-
Correction On 29th Jan or From 1st Week of Feb 2013
As higher levels good selling therefore following topic was posted on 28-01-2013:-
Down Moves after RBI Credit Policy
Although good news of quarter pct rate cut of both Repo and CRR by RBI but we were not bullish and when Nifty was trading above 6100 then told following lines in Mid-session Outlook today:-
"valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations."
Selling and short covering at higher levels on the back of Bullish news lead heated sentiments therefore market could not sustain at higher levels and closed at the bottom of the day today.
9 Sessions selling(resistance) before 25-01-2013 was between 6068-6100 and follow up selling seen within and above this range between 6070-6110 in both previous sessions therefore previous resistances became stronger and telling for more down moves and testing possibility of next supports(6000-6033) in the coming sessions. Correction continuation with Nifty slipping below 6000 and also testing possibility the levels near 5950.
Follow up selling tomorrow will mean consideration of following possibility also:-
"FOMC Meeting is scheduled on January 29-30 and its results will come out in the mid night of 30 Jan. We don't know what will be its outcome but US markets intraday and daily charts are showing selling formations therefore sharp fall in US markets on 30-01-2013 can not be ruled out which may result sharp down moves in Asian and Indian markets on 31st Jan"
FII & DII trading activity in Capital Market Segment on 29-Jan-2013
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Indian Stock Markets Closing Reports(29-Jan-2013)
1- All the Indices closed except CNX FMCG.
2- Closing near lower levels after RBI Credit policy led high volatility.
1- Shooting Star Bearish Candle formation
Ratios
Index Options Put Call Ratio: 1.05
Total Options Put Call Ratio: 1.00
Nifty P/E Ratio(29-Jan-2013): 18.18
Advances & Declines
BSE Advances : 1,103
BSE Declines : 1,736
NSE Advances : 689
NSE Declines : 1,150
Nifty Open Interest Changed Today
Nifty- 5800 CE(Jan)- -72,600(-8.86%)
Nifty- 5800 PE(Jan)- -657,300(-8.32%)
Nifty- 5900 CE(Jan)- -132,500(-12.84%)
Nifty- 5900 PE(Jan)- 540,100(7.00%)
Nifty- 6000 CE(Jan)- -629,300(-17.38%)
Nifty- 6000 PE(Jan)- -353,850(-4.08%)
Nifty- 6100 CE(Jan)- 1,057,750(14.65%)
Nifty- 6100 PE(Jan)- -842,650(-22.12%)
Closing
Sensex- closed at 19,990.90(-112.45 Points & -0.56%)
Nifty- closed at 6,049.90(-24.90 Points & -0.41%)
CNX Midcap - closed at 8,323.95(-54.90 Points & -0.66%)
CNX Smallcap- closed at 3,634.80(-24.75 Points & -0.68%)
Nifty Spot-Levels & Trading Strategy for 30-01-2013
R3 6161
R2 6136
R1 6092
Avg 6067
S1 6023
S2 5998
S3 5954
Nifty Spot-Trading Strategy
H6 6118 Trgt 2
H5 6102 Trgt 1
H4 6086 Long breakout
H3 6067 Go Short
H2 6061
H1 6055
L1 6042
L2 6036
L3 6030 Long
L4 6011 Short Breakout
L5 5995 Trgt 1
L6 5979 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 30-01-2013
R3 6178
R2 6149
R1 6099
Avg 6070
S1 6020
S2 5991
S3 5941
Nifty(Jan Fut)-Trading Strategy
H6 6128 Trgt 2
H5 6110 Trgt 1
H4 6092 Long breakout
H3 6070 Go Short
H2 6063
H1 6056
L1 6041
L2 6034
L3 6027 Long
L4 6005 Short Breakout
L5 5987 Trgt 1
L6 5969 Trgt 2
Bank Nifty(Jan Fut)-Levels & Trading Strategy for 30-01-2013
R3 13215
R2 13094
R1 12911
Avg 12790
S1 12607
S2 12486
S3 12303
Bank Nifty(Jan Fut)-Trading Strategy
H6 13033 Trgt 2
H5 12964 Trgt 1
H4 12895 Long breakout
H3 12811 Go Short
H2 12783
H1 12755
L1 12700
L2 12672
L3 12644 Long
L4 12560 Short Breakout
L5 12491 Trgt 1
L6 12422 Trgt 2
Pre-Closing Outlook(29-01-2013)
We told following posted following topics:-
1- On 26-01-2013- Correction On 29th Jan or From 1st Week of Feb 2013
2- On 28-01-2013- Down Moves after RBI Credit Policy
Although sentiment boosting quarter pct rate cut of both Repo and CRR but we were not bullish and when Nifty was trading above 6100 then told following lines in Mid-session Outlook today:-
"valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations."
As seling and short covering at higher levels due to heated sentiments therefore market could not sustain at higher levels and slipped into Red. Finally sustaining below 6062 will mean deeper correction in the coming sessions.
1- On 26-01-2013- Correction On 29th Jan or From 1st Week of Feb 2013
2- On 28-01-2013- Down Moves after RBI Credit Policy
Although sentiment boosting quarter pct rate cut of both Repo and CRR but we were not bullish and when Nifty was trading above 6100 then told following lines in Mid-session Outlook today:-
"valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations."
As seling and short covering at higher levels due to heated sentiments therefore market could not sustain at higher levels and slipped into Red. Finally sustaining below 6062 will mean deeper correction in the coming sessions.
NIFTY-Jan Put Option-Buying Trade
NIFTY-Jan Put Option(6000)-Buy-Positional-SL-00-TGT-44-CMP-08(Buy half quantity which covered todayLalit39)
Mid-session Outlook(29-01-2013)
Market zoomed up after quarter pct rate cut of both Repo and CRR and Nifty is hovering around 6100 for the last more than 1 hour. As sentiment boosting good news by RBI therefore some reactionary up moves were immediately expected and being seen also but valid break out above 6100 is must through sustaining above 6100 because just below it good selling was seen in previous sessions. Now sustaining above 6100 should be firstly watched for decisive up moves confirmations.
Post-open Outlook(29-01-2013)
RBI Credit policy according to expectations and huge volatility before and after its announcements. Valid break out of 6062-6100 should be watched now for next moves confirmation.
NIFTY-Jan Put Option(6000)-Bought on 28-01-2013-Message
NIFTY-Jan Put Option(6000)-Positional Bought on 28-01-2013-Cover immediately-CMP-10(Lalit39)
NIFTY-Jan Put Option(6000)-Bought on 28-01-2013-Message
NIFTY-Jan Put Option(6000)-Positional Bought on 28-01-2013-Credit Policy today,Market will be volatile.Hold and cover after my covering message(Lalit39)
Down Moves after RBI Credit Policy
Technical Analysis and Market Outlook
(29-01-2013)
(29-01-2013)
Nifty-Intra Day Chart (28-Jan-2013):-
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| Just click on chart for its enlarged view |
1- Selling between 6080-6086
2- Selling between 6076-6082 with lowr top Bearish pattern formation.
3- Support between 6062-6070
3- Whole day actual trading between 6062-6086
Conclusions from intra day chart analysis
Whole day 24 points narrow range trading with good selling at higher levels and lower levels supports also. Previous resistance was between 6068-6100 and follow up selling seen between this range today also and resistance becomes stronger therefore expected that Indian markets will move down tomorrow despite whatsoever RBI Credit Policy.
As lower levels supports also seen today therefore following range valid break out will be next moves confirmation and precautionary should also be watched tomorrow.
6062-6100
Indian Stock Markets Closing Reports(28-Jan-2013)
1- Benchmark Indices closed absolutely flat.
2- Sideways markets on the eve of RBI Credit Policy.
3- Doji Candle formation.
Ratios
Index Options Put Call Ratio: 1.05
Total Options Put Call Ratio: 0.97
Nifty P/E Ratio(28-Jan-2013): 18.27
Advances & Declines
BSE Advances :
BSE Declines :
NSE Advances :
NSE Declines :
Nifty Open Interest Changed Today
Nifty- 5700 CE(Jan)- -31,000(-5.12%)
Nifty- 5700 PE(Jan)- -54,450(-1.30%)
Nifty- 5800 CE(Jan)- -20,800(-2.47%)
Nifty- 5800 PE(Jan)- -194,250(-2.40%)
Nifty- 5900 CE(Jan)- -34,350(-3.22%)
Nifty- 5900 PE(Jan)- -93,150(-1.19%)
Nifty- 6000 CE(Jan)- -201,250(-5.26%)
Nifty- 6000 PE(Jan)- 105,950(1.24%)
Nifty- 6100 CE(Jan)- 513,150(7.65%)
Nifty- 6100 PE(Jan)- 628,700(19.76%)
Nifty- 6200 CE(Jan)- -285,150(-3.00%)
Nifty- 6200 PE(Jan)- 50,600(8.70%)
Closing
Sensex- closed at 20103.35(-0.18 Points & 0.00%)
Nifty- closed at 6,074.80(0.15 Points & 0.00%)
CNX Midcap - closed at 8,378.85(4.40 Points & 0.05%)
CNX Smallcap- closed at 3,659.55(-4.30 Points & -0.12%)
FII & DII trading activity in Capital Market Segment on 28-Jan-2013
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Nifty Spot-Levels & Trading Strategy for 29-01-2013
R3 6114
R2 6101
R1 6087
Avg 6074
S1 6060
S2 6047
S3 6033
Nifty Spot-Trading Strategy
H6 6101 Trgt 2
H5 6094 Trgt 1
H4 6088 Long breakout
H3 6081 Go Short
H2 6078
H1 6076
L1 6071
L2 6069
L3 6066 Long
L4 6059 Short Breakout
L5 6053 Trgt 1
L6 6046 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 29-01-2013
R3 6119
R2 6105
R1 6091
Avg 6077
S1 6063
S2 6049
S3 6035
Nifty(Jan Fut)-Trading Strategy
H6 6105 Trgt 2
H5 6098 Trgt 1
H4 6092 Long breakout
H3 6084 Go Short
H2 6082
H1 6079
L1 6074
L2 6071
L3 6069 Long
L4 6061 Short Breakout
L5 6055 Trgt 1
L6 6048 Trgt 2
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