Technical Analysis and Market Outlook(25-04-2014)

Nifty-Intra Day Chart (23-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6841-6861
2- Strong recovery after new intraday lowest formations
3- Whole day actual trading between 6821-6861

Conclusions from intra day chart analysis 

All trends are up and Indian markets are highly Bullish therefore consolidating at higher levels without giving deeper correction. Although good selling seen in previous sessions but market recovered from lower levels in last minutes without giving deeper correction despite higher levels selling today.

Impulsive Wave-iii of Wave-3 continuation and its continuation will be considered until complete selling patterns will not develop. Indian Stock markets are discounting Modi factor and expectations are at peak all around therefore cautious approach is required because euphoria is being developed and markets are moving up under most Bullish sentiments. 

FII & DII trading activity in Capital Market Segment on 23-Apr-2014

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 23-Apr-2014 5607.62 4840.01 767.61

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 23-Apr-2014 1732.51 2266.39 -533.88

Indian Stock Markets Closing Reports(23-Apr-2014)

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.03
Total Options Put Call Ratio: 0.99
Nifty P/E Ratio(23-Apr-2014): 19.20
Nifty P/B Ratio(23-Apr-2014): 3.30
Dividend Yield (23-Apr-2014): 1.34

Advances & Declines

BSE Advances : 1,428
BSE Declines : 1,372
NSE Advances :   783
NSE Declines :   748

Nifty Open Interest Changed Today

Nifty- 6700  CE(May)- -9,150(-1.17%)
Nifty- 6700  PE(May)-  148,350(15.37%)

Nifty- 6800  CE(May)- 41,250(2.65%)
Nifty- 6800  PE(May)- 471,350(%)

Nifty- 6900  CE(May)- 623,800(52.95%)
Nifty- 6900  PE(May)- 305,150(47.44%)

Nifty- 7000  CE(May)- 484,000(23.35%)
Nifty- 7000  PE(May)- 113,100(19.17%)


Closing 

Sensex- closed at 22,876.54(118.17 Points & 0.52%)
Nifty- closed at 6,840.80(25.45 Points & 0.37%)
CNX Midcap - closed at 8,902.20(-1.60 Points & -0.02%)
CNX Smallcap- closed at 3,999.35(6.55 Points & 0.16%)

Nifty Spot-Levels & Trading Strategy for 25-04-2014

Nifty Spot-Levels

R3 6901
R2 6881
R1 6860
Avg 6840
S1 6819
S2 6799
S3 6778

Nifty Spot-Trading Strategy

H6 6881     Trgt 2
H5 6871     Trgt 1
H4 6862     Long breakout
H3 6851     Go Short
H2 6847
H1 6843
L1 6836
L2 6832
L3 6828     Long
L4 6817     Short Breakout
L5 6808     Trgt 1
L6 6798     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 25-04-2014

Nifty(May Fut)-Levels

R3 6953
R2 6931
R1 6915
Avg 6893
S1 6877
S2 6855
S3 6839

Nifty(May Fut)-Trading Strategy

H6 6937     Trgt 2
H5 6928     Trgt 1
H4 6919     Long breakout
H3 6909     Go Short
H2 6905
H1 6902
L1 6895
L2 6892
L3 6888     Long
L4 6878     Short Breakout
L5 6869     Trgt 1
L6 6860     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 25-04-2014

Bank Nifty(May Fut)-Levels

R3 13565
R2 13421
R1 13327
Avg 13183
S1 13089
S2 12945
S3 12851

Bank Nifty(May Fut)-Trading Strategy

H6 13475     Trgt 2
H5 13420     Trgt 1
H4 13364     Long breakout
H3 13299     Go Short
H2 13277
H1 13255
L1 13212
L2 13190
L3 13168     Long
L4 13103     Short Breakout
L5 13047     Trgt 1
L6 12992     Trgt 2

Mid-session Outlook(23-04-2014)

As good selling in previous sessions therefore very Short Term correction was expected but Indian markets are showing extreme strength today. Although continuous recovery since opening but very Short Term correction is very much due and still expected.