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ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis,Research & Weekly Outlook(Oct 14 to Oct 18,2013
Nifty-EOD Chart (11-Oct-2013):-
Technical Patterns and Formations in EOD charts
1- All time high formation at 6357.10 on 08-01-2008
2- 1st Lower top formation at 6338.50 on 05-11-2010
3- 2nd Lower top formation at 6229.45 on 20-05-2013
4- 3rd Lower top formation at 6142.50 on 19-09-2013
Conclusions from EOD chart analysis
As 3 times lower top formations since all time high formation in Jan 2008 therefore above mentioned resistances psychological at higher higher levels.
Nifty-EOD Chart (11-Oct-2013):-
Technical Patterns and Formations in EOD charts
Hanging Man Bearish Candle formation on 11-10-2013
Conclusions from EOD chart analysis
Hanging Man candle means sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes near the top the day. This signifies the potential for further follow up selling in the coming sessions. Trend reversal can be confirmation be by a black candlestick or a large down gap on the next trading day accompanied by a lower close.
Nifty-Intra Day Chart (11-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Up moves in Bearish Rising Channel.
3- Whole day actual trading between 6047-6107
Conclusions from intra day chart analysis
As up moves in Bearish Rising Channel therefore therefore emrgence of down moves possibility.
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| Technical Patterns and Formations in EOD charts |
1- All time high formation at 6357.10 on 08-01-2008
2- 1st Lower top formation at 6338.50 on 05-11-2010
3- 2nd Lower top formation at 6229.45 on 20-05-2013
4- 3rd Lower top formation at 6142.50 on 19-09-2013
Conclusions from EOD chart analysis
As 3 times lower top formations since all time high formation in Jan 2008 therefore above mentioned resistances psychological at higher higher levels.
Nifty-EOD Chart (11-Oct-2013):-
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| Just click on chart for its enlarged view |
Hanging Man Bearish Candle formation on 11-10-2013
Conclusions from EOD chart analysis
Hanging Man candle means sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes near the top the day. This signifies the potential for further follow up selling in the coming sessions. Trend reversal can be confirmation be by a black candlestick or a large down gap on the next trading day accompanied by a lower close.
Nifty-Intra Day Chart (11-Oct-2013):-
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| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channel.
3- Whole day actual trading between 6047-6107
Conclusions from intra day chart analysis
As up moves in Bearish Rising Channel therefore therefore emrgence of down moves possibility.
Conclusions (After Putting All Indicators Together)
All trends are up but selling patterns formations on intraday charts and Bearish candle formation also last Friday. As such down moves signals seen just below Falling trend lines from all time high therefore down moves in the beginning of coming week and finally sustaining beyond 5702-6142 will decide next Long Term Trend in the coming week.
Nifty Spot-Levels & Trading Strategy for 14-10-2013
Nifty Spot-Levels
R3 6181
R2 6144
R1 6120
Avg 6083
S1 6059
S2 6022
S3 5998
Nifty Spot-Trading Strategy
H6 6157 Trgt 2
H5 6143 Trgt 1
H4 6129 Long breakout
H3 6112 Go Short
H2 6107
H1 6101
L1 6090
L2 6084
L3 6079 Long
L4 6062 Short Breakout
L5 6048 Trgt 1
L6 6034 Trgt 2
R3 6181
R2 6144
R1 6120
Avg 6083
S1 6059
S2 6022
S3 5998
Nifty Spot-Trading Strategy
H6 6157 Trgt 2
H5 6143 Trgt 1
H4 6129 Long breakout
H3 6112 Go Short
H2 6107
H1 6101
L1 6090
L2 6084
L3 6079 Long
L4 6062 Short Breakout
L5 6048 Trgt 1
L6 6034 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 14-10-2013
Nifty(Oct Fut)-Levels
R3 6229
R2 6186
R1 6158
Avg 6115
S1 6087
S2 6044
S3 6016
Nifty(Oct Fut)-Trading Strategy
H6 6201 Trgt 2
H5 6185 Trgt 1
H4 6169 Long breakout
H3 6149 Go Short
H2 6143
H1 6136
L1 6123
L2 6116
L3 6110 Long
L4 6090 Short Breakout
L5 6074 Trgt 1
L6 6058 Trgt 2
R3 6229
R2 6186
R1 6158
Avg 6115
S1 6087
S2 6044
S3 6016
Nifty(Oct Fut)-Trading Strategy
H6 6201 Trgt 2
H5 6185 Trgt 1
H4 6169 Long breakout
H3 6149 Go Short
H2 6143
H1 6136
L1 6123
L2 6116
L3 6110 Long
L4 6090 Short Breakout
L5 6074 Trgt 1
L6 6058 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 14-10-2013
Bank Nifty(Oct Fut)-Levels
R3 11154
R2 10931
R1 10803
Avg 10580
S1 10452
S2 10229
S3 10101
Bank Nifty(Oct Fut)-Trading Strategy
H6 11036 Trgt 2
H5 10952 Trgt 1
H4 10868 Long breakout
H3 10771 Go Short
H2 10739
H1 10707
L1 10642
L2 10610
L3 10578 Long
L4 10481 Short Breakout
L5 10397 Trgt 1
L6 10313 Trgt 2
R3 11154
R2 10931
R1 10803
Avg 10580
S1 10452
S2 10229
S3 10101
Bank Nifty(Oct Fut)-Trading Strategy
H6 11036 Trgt 2
H5 10952 Trgt 1
H4 10868 Long breakout
H3 10771 Go Short
H2 10739
H1 10707
L1 10642
L2 10610
L3 10578 Long
L4 10481 Short Breakout
L5 10397 Trgt 1
L6 10313 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Oct 14 to Oct 18,2013)
Nifty Spot-Weekly Levels
R3 6474
R2 6290
R1 6193
Avg 6009
S1 5912
S2 5728
S3 5631
Nifty Spot-Weekly Trading Strategy
H6 6390 Trgt 2
H5 6320 Trgt 1
H4 6250 Long breakout
H3 6173 Go Short
H2 6147
H1 6121
L1 6070
L2 6044
L3 6018 Long
L4 5941 Short Breakout
L5 5871 Trgt 1
L6 5801 Trgt 2
R3 6474
R2 6290
R1 6193
Avg 6009
S1 5912
S2 5728
S3 5631
Nifty Spot-Weekly Trading Strategy
H6 6390 Trgt 2
H5 6320 Trgt 1
H4 6250 Long breakout
H3 6173 Go Short
H2 6147
H1 6121
L1 6070
L2 6044
L3 6018 Long
L4 5941 Short Breakout
L5 5871 Trgt 1
L6 5801 Trgt 2
Bank Nifty Spot-Weekly Levels & Trading Strategy(Oct 14 to Oct 18,2013)
Bank Nifty Spot-Weekly Levels
R3 11660
R2 11154
R1 10888
Avg 10382
S1 10116
S2 9610
S3 9344
Bank Nifty Spot-Weekly Trading Strategy
H6 11452 Trgt 2
H5 11249 Trgt 1
H4 11046 Long breakout
H3 10834 Go Short
H2 10763
H1 10692
L1 10551
L2 10480
L3 10409 Long
L4 10197 Short Breakout
L5 9994 Trgt 1
L6 9791 Trgt 2
R3 11660
R2 11154
R1 10888
Avg 10382
S1 10116
S2 9610
S3 9344
Bank Nifty Spot-Weekly Trading Strategy
H6 11452 Trgt 2
H5 11249 Trgt 1
H4 11046 Long breakout
H3 10834 Go Short
H2 10763
H1 10692
L1 10551
L2 10480
L3 10409 Long
L4 10197 Short Breakout
L5 9994 Trgt 1
L6 9791 Trgt 2
Pre-closing Outlook(11-10-2013)
Although now trading near the highs of the day but today intraday charts are showing selling patterns formations and expected that correction will begin after completion of distribution within next 1/2 sessions.
Post-open Outlook(11-10-2013)
Global markets rally today after US markets blasting moves yesterday and Indian markets participation through strong gap up opening. As news based led market today therefore sustaining above yesterday highest(6031) is must for next rally because good selling seen yesterday.
Technical Analysis and Market Outlook(11-10-2013)
Nifty-Intra Day Chart (10-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- All up moves from lower levels in Bearish Rising Channel
2- Higher levels selling patterns formations.
3- Whole day actual trading between 5979-6031
Whole day sideways trading with Bearish Rising Channel formations and higher levels selling patterns formations also therefore emergence of distribution(selling) process. Although closing at higher levels of the day today but down moves possibilities turned alive after completion of distribution.
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| Just click on chart for its enlarged view |
1- All up moves from lower levels in Bearish Rising Channel
2- Higher levels selling patterns formations.
3- Whole day actual trading between 5979-6031
Conclusions from intra day chart analysis
Whole day sideways trading with Bearish Rising Channel formations and higher levels selling patterns formations also therefore emergence of distribution(selling) process. Although closing at higher levels of the day today but down moves possibilities turned alive after completion of distribution.
Nifty Spot-Levels & Trading Strategy for 11-10-2013
Nifty Spot-Levels
R3 6096
R2 6064
R1 6042
Avg 6010
S1 5988
S2 5956
S3 5934
Nifty Spot-Trading Strategy
H6 6074 Trgt 2
H5 6062 Trgt 1
H4 6049 Long breakout
H3 6034 Go Short
H2 6029
H1 6024
L1 6015
L2 6010
L3 6005 Long
L4 5990 Short Breakout
L5 5977 Trgt 1
L6 5965 Trgt 2
R3 6096
R2 6064
R1 6042
Avg 6010
S1 5988
S2 5956
S3 5934
Nifty Spot-Trading Strategy
H6 6074 Trgt 2
H5 6062 Trgt 1
H4 6049 Long breakout
H3 6034 Go Short
H2 6029
H1 6024
L1 6015
L2 6010
L3 6005 Long
L4 5990 Short Breakout
L5 5977 Trgt 1
L6 5965 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 11-10-2013
Nifty(Oct Fut)-Levels
R3 6154
R2 6113
R1 6086
Avg 6045
S1 6018
S2 5977
S3 5950
Nifty(Oct Fut)-Trading Strategy
H6 6127 Trgt 2
H5 6112 Trgt 1
H4 6096 Long breakout
H3 6077 Go Short
H2 6071
H1 6065
L1 6052
L2 6046
L3 6040 Long
L4 6021 Short Breakout
L5 6006 Trgt 1
L6 5990 Trgt 2
R3 6154
R2 6113
R1 6086
Avg 6045
S1 6018
S2 5977
S3 5950
Nifty(Oct Fut)-Trading Strategy
H6 6127 Trgt 2
H5 6112 Trgt 1
H4 6096 Long breakout
H3 6077 Go Short
H2 6071
H1 6065
L1 6052
L2 6046
L3 6040 Long
L4 6021 Short Breakout
L5 6006 Trgt 1
L6 5990 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 11-10-2013
Bank Nifty(Oct Fut)-Levels
R3 10636
R2 10537
R1 10450
Avg 10351
S1 10264
S2 10165
S3 10078
Bank Nifty(Oct Fut)-Trading Strategy
H6 10551 Trgt 2
H5 10508 Trgt 1
H4 10465 Long breakout
H3 10414 Go Short
H2 10397
H1 10380
L1 10345
L2 10328
L3 10311 Long
L4 10260 Short Breakout
L5 10217 Trgt 1
L6 10175. Trgt 2
R3 10636
R2 10537
R1 10450
Avg 10351
S1 10264
S2 10165
S3 10078
Bank Nifty(Oct Fut)-Trading Strategy
H6 10551 Trgt 2
H5 10508 Trgt 1
H4 10465 Long breakout
H3 10414 Go Short
H2 10397
H1 10380
L1 10345
L2 10328
L3 10311 Long
L4 10260 Short Breakout
L5 10217 Trgt 1
L6 10175. Trgt 2
Mid-session Outlook-2 (10-10-2013)
Whole day sideways trading with higher levels selling patterns formations.
Mid-session Outlook(10-10-2013)
Following lines were told in previous Outlook yesterday:-
1- we are expecting some intraday correction tomorrow
2- next moves confirmation through sustaining beyond 5981
Correction seen after higher levels selling between 6005-5019 and some recovery also seen after getting supports at 5979.80.
As both selling and support in first 3 hours today therefore firstly valid break out of 8980-6019 should be watched for next immediate moves confirmations.
1- we are expecting some intraday correction tomorrow
2- next moves confirmation through sustaining beyond 5981
Correction seen after higher levels selling between 6005-5019 and some recovery also seen after getting supports at 5979.80.
As both selling and support in first 3 hours today therefore firstly valid break out of 8980-6019 should be watched for next immediate moves confirmations.
Technical Analysis and Market Outlook(10-10-2013)
Nifty-Intra Day Chart (09-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Whole day up moves in Bearish Rising Channel.
2- Whole day actual trading between 5878-6015
Although gap down opening but closing at the highest level of the day with good 1.33% gains and closing above 20 sessions most time trading range(5737-5981) therefore emergence of next big up trend first indication but sustaining above 5981 is must for valid break out.
As Whole day up moves were in Bearish Rising Channel today therefore strong intraday up moves of today may be short covering rally and may fizzle out also.
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| Just click on chart for its enlarged view |
1- Whole day up moves in Bearish Rising Channel.
2- Whole day actual trading between 5878-6015
Conclusions from intra day chart analysis
Although gap down opening but closing at the highest level of the day with good 1.33% gains and closing above 20 sessions most time trading range(5737-5981) therefore emergence of next big up trend first indication but sustaining above 5981 is must for valid break out.
As Whole day up moves were in Bearish Rising Channel today therefore strong intraday up moves of today may be short covering rally and may fizzle out also.
Although whole sentiment is Bullish today but we are expecting some intraday correction tomorrow and telling for next moves confirmation through sustaining beyond 5981.
Nifty Spot-Levels & Trading Strategy for 10-10-2013
Nifty Spot-Levels
R3 6193
R2 6104
R1 6055
Avg 5966
S1 5917
S2 5828
S3 5779
Nifty Spot-Trading Strategy
H6 6148 Trgt 2
H5 6115 Trgt 1
H4 6082 Long breakout
H3 6044 Go Short
H2 6032
H1 6019
L1 5994
L2 5981
L3 5969 Long
L4 5931 Short Breakout
L5 5898 Trgt 1
L6 5865 Trgt 2
R3 6193
R2 6104
R1 6055
Avg 5966
S1 5917
S2 5828
S3 5779
Nifty Spot-Trading Strategy
H6 6148 Trgt 2
H5 6115 Trgt 1
H4 6082 Long breakout
H3 6044 Go Short
H2 6032
H1 6019
L1 5994
L2 5981
L3 5969 Long
L4 5931 Short Breakout
L5 5898 Trgt 1
L6 5865 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 10-10-2013
Nifty(Oct Fut)-Levels
R3 6253
R2 6155
R1 6101
Avg 6003
S1 5949
S2 5851
S3 5797
Nifty(Oct Fut)-Trading Strategy
H6 6203 Trgt 2
H5 6167 Trgt 1
H4 6131 Long breakout
H3 6089 Go Short
H2 6075
H1 6061
L1 6034
L2 6020
L3 6006 Long
L4 5964 Short Breakout
L5 5928 Trgt 1
L6 5892 Trgt 2
R3 6253
R2 6155
R1 6101
Avg 6003
S1 5949
S2 5851
S3 5797
Nifty(Oct Fut)-Trading Strategy
H6 6203 Trgt 2
H5 6167 Trgt 1
H4 6131 Long breakout
H3 6089 Go Short
H2 6075
H1 6061
L1 6034
L2 6020
L3 6006 Long
L4 5964 Short Breakout
L5 5928 Trgt 1
L6 5892 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 10-10-2013
Bank Nifty(Oct Fut)-Levels
R3 10967
R2 10694
R1 10547
Avg 10274
S1 10127
S2 9854
S3 9707
Bank Nifty(Oct Fut)-Trading Strategy
H6 10836 Trgt 2
H5 10733 Trgt 1
H4 10631 Long breakout
H3 10515 Go Short
H2 10477
H1 10438
L1 10361
L2 10323
L3 10284 Long
L4 10169 Short Breakout
L5 10066 Trgt 1
L6 9963 Trgt 2
R3 10967
R2 10694
R1 10547
Avg 10274
S1 10127
S2 9854
S3 9707
Bank Nifty(Oct Fut)-Trading Strategy
H6 10836 Trgt 2
H5 10733 Trgt 1
H4 10631 Long breakout
H3 10515 Go Short
H2 10477
H1 10438
L1 10361
L2 10323
L3 10284 Long
L4 10169 Short Breakout
L5 10066 Trgt 1
L6 9963 Trgt 2
Mid-session Outlook(09-10-2013)
Although Indian markets closed at the lowest of the day yesterday but down moves were in Bullish Falling channel with lower levels supports also therefore following line was told in both previous Outlooks yesterday:-
Huge gap down opening after most depressing global cues today but strong recovery from lower levels and now Nifty is trading 27 points up after 51 points down trading.
Only news based intraday volatility without too much technical positions formations will be understood at present. Some selling and buying seen in both previous sessions between 5826-5981 therefore sustaining beyond this range should be watched for next Long Term Trend first strong indication.
"rally continuation hopes are still alive"
Huge gap down opening after most depressing global cues today but strong recovery from lower levels and now Nifty is trading 27 points up after 51 points down trading.
Only news based intraday volatility without too much technical positions formations will be understood at present. Some selling and buying seen in both previous sessions between 5826-5981 therefore sustaining beyond this range should be watched for next Long Term Trend first strong indication.
Technical Analysis and Market Outlook(09-10-2013)
Nifty-Intra Day Chart (08-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5955-5981
2- Down moves in Bullish Falling channel
3- Multiple supports at lower levels.
4- Whole day actual trading between 5913-5981
Although strong gap up opening after MSF rate cut news but not sustaining at higher levels because selling between 5955-5981. As today down moves in Bullish Falling channel and supports at lower levels also therefore rally continuation hopes are still alive because lower levels good supports seen yesterday.
News based 2 volatile sessions with lower levels supports yesterday and closing near higher levels amid most depressing Global markets but on the contrary higher levels selling today and closing near lower levels after positive news of MSF rates cut. Last 2 sessions moves are clear from last 2 sessions following chart:-
Nifty-Intra Day Chart (Oct 07 & Oct 08,2013):-
News based 2 volatile sessions with lower levels supports yesterday and higher levels selling today therefore Nifty will trade within 2 sessions range(5826-5981) as well as prepare for valid break out 2 sessions range.
20 Sessions sideways market between 5701-6142 and both Long Term Trend decider 200 Day SMA and 200 Day EMA are lying within this range,it is confirm that sustaining beyond this range will give very big moves in Indian markets. As most time trading between 5737-5981 therefore its valid break out will be next big trend first indication.
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| Just click on chart for its enlarged view |
1- Selling between 5955-5981
2- Down moves in Bullish Falling channel
3- Multiple supports at lower levels.
4- Whole day actual trading between 5913-5981
Conclusions from intra day chart analysis
Although strong gap up opening after MSF rate cut news but not sustaining at higher levels because selling between 5955-5981. As today down moves in Bullish Falling channel and supports at lower levels also therefore rally continuation hopes are still alive because lower levels good supports seen yesterday.
News based 2 volatile sessions with lower levels supports yesterday and closing near higher levels amid most depressing Global markets but on the contrary higher levels selling today and closing near lower levels after positive news of MSF rates cut. Last 2 sessions moves are clear from last 2 sessions following chart:-
Nifty-Intra Day Chart (Oct 07 & Oct 08,2013):-
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| Just click on chart for its enlarged view |
20 Sessions sideways market between 5701-6142 and both Long Term Trend decider 200 Day SMA and 200 Day EMA are lying within this range,it is confirm that sustaining beyond this range will give very big moves in Indian markets. As most time trading between 5737-5981 therefore its valid break out will be next big trend first indication.
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