Clear consolidations patterns at lower levels today and some intraday up moves were also seen after positive opening of European markets. As intraday selling was seen at higher levels yesterday therefore some more consolidations are required for valid break out above yesterday highs(5828). Fresh up moves expectations turned alive after lower levels consolidations today and only valid break out above 5828 should be watched now for fresh up moves confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Post-open Outlook(07-03-2013)
Following lines were told yesterday in Technical Analysis and Market Outlook(07-03-2013):-
1- good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
2- As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range.
3- Although down moves below 5796 are expected but valid break out of 5796-5828 should be watched tomorrow for next moves confirmations.
Down moves were expected and Nifty is trading in Red since opening today with lowest formation at 5801.30. Valid break out of 5796-5828 should be firstly watched today for next trend confirmations.
1- good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
2- As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range.
3- Although down moves below 5796 are expected but valid break out of 5796-5828 should be watched tomorrow for next moves confirmations.
Down moves were expected and Nifty is trading in Red since opening today with lowest formation at 5801.30. Valid break out of 5796-5828 should be firstly watched today for next trend confirmations.
Technical Analysis and Market Outlook(07-03-2013)
Nifty-Intra Day Chart (06-Mar-2013):-
Technical Patterns and Formations in today intraday charts
1- Support between 5796-5802
2- Selling between 5818-5828
3- Whole day actual trading between 5796-5828
Strong Global cues led gap up opening and slow up moves after lower levels supports but higher levels good selling also despite closing near intraday higher levels. As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range. It should be kept in mind that good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
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| Just click on chart for its enlarged view |
1- Support between 5796-5802
2- Selling between 5818-5828
3- Whole day actual trading between 5796-5828
Conclusions from intra day chart analysis
Strong Global cues led gap up opening and slow up moves after lower levels supports but higher levels good selling also despite closing near intraday higher levels. As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range. It should be kept in mind that good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
Although down moves below 5796 are expected but valid break out of 5796-5828 should be watched tomorrow for next moves confirmations.
FII & DII trading activity in Capital Market Segment on 06-Mar-2013
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Nifty Spot-Levels & Trading Strategy for 07-03-2013
Nifty Spot-Levels
R3 5865
R2 5846
R1 5832
Avg 5813
S1 5799
S2 5780
S3 5766
Nifty Spot-Trading Strategy
H6 5851 Trgt 2
H5 5843 Trgt 1
H4 5836 Long breakout
H3 5827 Go Short
H2 5824
H1 5821
L1 5814
L2 5811
L3 5808 Long
L4 5799 Short Breakout
L5 5792 Trgt 1
L6 5784 Trgt 2
R3 5865
R2 5846
R1 5832
Avg 5813
S1 5799
S2 5780
S3 5766
Nifty Spot-Trading Strategy
H6 5851 Trgt 2
H5 5843 Trgt 1
H4 5836 Long breakout
H3 5827 Go Short
H2 5824
H1 5821
L1 5814
L2 5811
L3 5808 Long
L4 5799 Short Breakout
L5 5792 Trgt 1
L6 5784 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 07-03-2013
Nifty(Mar Fut)-Levels
R3 5891
R2 5870
R1 5855
Avg 5834
S1 5819
S2 5798
S3 5783
Nifty(Mar Fut)-Trading Strategy
H6 5877 Trgt 2
H5 5868 Trgt 1
H4 5860 Long breakout
H3 5850 Go Short
H2 5847
H1 5844
L1 5837
L2 5834
L3 5831 Long
L4 5821 Short Breakout
L5 5813 Trgt 1
L6 5804 Trgt 2
R3 5891
R2 5870
R1 5855
Avg 5834
S1 5819
S2 5798
S3 5783
Nifty(Mar Fut)-Trading Strategy
H6 5877 Trgt 2
H5 5868 Trgt 1
H4 5860 Long breakout
H3 5850 Go Short
H2 5847
H1 5844
L1 5837
L2 5834
L3 5831 Long
L4 5821 Short Breakout
L5 5813 Trgt 1
L6 5804 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 07-03-2013
Bank Nifty(Mar Fut)-Levels
R3 12033
R2 11988
R1 11955
Avg 11910
S1 11877
S2 11832
S3 11799
Bank Nifty(Mar Fut)-Trading Strategy
H6 12000 Trgt 2
H5 11982 Trgt 1
H4 11964 Long breakout
H3 11943 Go Short
H2 11936
H1 11929
L1 11914
L2 11907
L3 11900 Long
L4 11879 Short Breakout
L5 11861 Trgt 1
L6 11843 Trgt 2
R3 12033
R2 11988
R1 11955
Avg 11910
S1 11877
S2 11832
S3 11799
Bank Nifty(Mar Fut)-Trading Strategy
H6 12000 Trgt 2
H5 11982 Trgt 1
H4 11964 Long breakout
H3 11943 Go Short
H2 11936
H1 11929
L1 11914
L2 11907
L3 11900 Long
L4 11879 Short Breakout
L5 11861 Trgt 1
L6 11843 Trgt 2
Mid-session Outlook-2(06-03-2013)
Following lines have been told in both previous Outlooks:-
1- lacking strength and view is cautious because emergence of selling signals also
2- As today up moves are without required force and it is selling signal therefore view is cautious
3- As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance.
4- valid break out of mentioned range will give next trend confirmations and should be firstly watched.
1- lacking strength and view is cautious because emergence of selling signals also
2- As today up moves are without required force and it is selling signal therefore view is cautious
3- As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance.
4- valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Although Nifty moved and traded half hour above 5821 as well as formed intraday high at 5,828.25 but again slipped below 5821 and then again traded at 5811. At present lower levels supports and higher levels selling confirmations between 5795-5828 and follow up moves within this range in the coming hours as well as valid break out of 5795-5828 should be watched now for next moves confirmations.
Mid-session Outlook(06-03-2013)
As today up moves are without required force and it is selling signal therefore view is cautious. Nifty is trading between resistance range(5800-5895) and intraday corrections with consolidations are required for decisive up moves within this range.
Nifty firstly traded at 5821 within 1st minute of opening and since then trading below it after forming lowest at 5795.05. As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance and:-
1- Above 5821 will mean up moves after possibility of follow up consolidations within resistance range.
2- Below 5795 will mean down moves and strengthening of resistance.
Follow up moves in the coming hours and valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Nifty firstly traded at 5821 within 1st minute of opening and since then trading below it after forming lowest at 5795.05. As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance and:-
1- Above 5821 will mean up moves after possibility of follow up consolidations within resistance range.
2- Below 5795 will mean down moves and strengthening of resistance.
Follow up moves in the coming hours and valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Post-open Outlook(06-03-2013)
Positive zone trading after after good gap up opening but lacking strength and view is cautious because emergence of selling signals also.
Technical Analysis and Market Outlook(06-03-2013)
Nifty-Intra Day Chart (05-Mar-2013):-
Technical Patterns and Formations in today intraday charts
1- Consolidation Patterns between 5725-5740
2- Consolidation Patterns between 5747-5757
3- Whole day actual trading between 5725-5789
Whole day up moves with lower level consolidations and closing near higher levels of the day but multiple resistances between 5800-5895 therefore more consolidation is required for any decisive up moves between and above this range. Intermediate and Short term trends are down and Long Term Trend is up,Pull Back Rally continuation after panic bottom formation after Budget and more up moves will be seen also because no selling seen yesterday. Lot of consolidations between 5800-5895 and more confirmations are required for the projection of rally formations,let it happen then will be updated accordingly. Firstly following retracement levels should be watched for the targets of on going up moves:-
27.0%- 5784
38.2%- 5834(Most crucial)
50.0%- 5887(Most crucial)
61.8%- 5940(Most crucial)
70.7%- 5980
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| Just click on chart for its enlarged view |
1- Consolidation Patterns between 5725-5740
2- Consolidation Patterns between 5747-5757
3- Whole day actual trading between 5725-5789
Conclusions from intra day chart analysis
Whole day up moves with lower level consolidations and closing near higher levels of the day but multiple resistances between 5800-5895 therefore more consolidation is required for any decisive up moves between and above this range. Intermediate and Short term trends are down and Long Term Trend is up,Pull Back Rally continuation after panic bottom formation after Budget and more up moves will be seen also because no selling seen yesterday. Lot of consolidations between 5800-5895 and more confirmations are required for the projection of rally formations,let it happen then will be updated accordingly. Firstly following retracement levels should be watched for the targets of on going up moves:-
27.0%- 5784
38.2%- 5834(Most crucial)
50.0%- 5887(Most crucial)
61.8%- 5940(Most crucial)
70.7%- 5980
FII & DII trading activity in Capital Market Segment on 05-Mar-2013
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Nifty Spot-Levels & Trading Strategy for 06-03-2013
R3 5876
R2 5833
R1 5808
Avg 5765
S1 5740
S2 5697
S3 5672
Nifty Spot-Trading Strategy
H6 5852 Trgt 2
H5 5837 Trgt 1
H4 5821 Long breakout
H3 5802 Go Short
H2 5796
H1 5790
L1 5777
L2 5771
L3 5765 Long
L4 5746 Short Breakout
L5 5730 Trgt 1
L6 5715 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 06-03-2013
R3 5909
R2 5858
R1 5830
Avg 5779
S1 5751
S2 5700
S3 5672
Nifty(Mar Fut)-Trading Strategy
H6 5882 Trgt 2
H5 5863 Trgt 1
H4 5845 Long breakout
H3 5823 Go Short
H2 5816
H1 5809
L1 5794
L2 5787
L3 5780 Long
L4 5758 Short Breakout
L5 5740 Trgt 1
L6 5721 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 06-03-2013
R3 12118
R2 11988
R1 11914
Avg 11784
S1 11710
S2 11580
S3 11506
Bank Nifty(Mar Fut)-Trading Strategy
H6 12047 Trgt 2
H5 11999 Trgt 1
H4 11952 Long breakout
H3 11896 Go Short
H2 11877
H1 11858
L1 11821
L2 11802
L3 11783 Long
L4 11727 Short Breakout
L5 11680 Trgt 1
L6 11632 Trgt 2
Pre-Closing Outlook(05-03-2013)
As extremely busy therefore Mid-session Outlooks could not be updated today
Only Up moves,Bounce back or Pull Back rally was told in almost all the previous Outlooks and Benchmark Indices are more than 1.3% up today. As multiple resistances between 5800-5895 therefore more consolidation is required for any decisive up moves above it. Today rally has not shown any selling formation yet therefore more up moves possibility is still alive
Technical Analysis and Market Outlook(05-03-2013)
Nifty-Intra Day Chart (04-Mar-2013):-
Technical Patterns and Formations in today intraday charts
1- Support between 5667-5685
2- Whole day actual trading between 5667-5708
As same view therefore being repeated which was told in following lines yesterday in Pre-Closing Outlook:-
"lower levels supports and consolidations patterns but up moves were without force and it is selling signal therefore valid break out above 5704 should be firstly watched now for the possibility of bounce back or Pull Back rally"
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| Just click on chart for its enlarged view |
1- Support between 5667-5685
2- Whole day actual trading between 5667-5708
Conclusions from intra day chart analysis
As same view therefore being repeated which was told in following lines yesterday in Pre-Closing Outlook:-
"lower levels supports and consolidations patterns but up moves were without force and it is selling signal therefore valid break out above 5704 should be firstly watched now for the possibility of bounce back or Pull Back rally"
FII & DII trading activity in Capital Market Segment on 04-Mar-2013
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