It was clearly told on 09-11-2010 and today for following supports that:-
"Support but not strong"
1- 6240-6260(Support but not strong)
2- 6150-6170(Support but not strong)
3- 6100-6130(Support but not strong)
All 3 supports broken in 4 days and Nifty made 6088.05 today. It has been confirmed that previous week rally was only on the back of following bullish news:-
1- Obama visit
2- Strong global markets
3- Coal Indian listing
As market could not sustained at higher levels and slipped sharply therefore 6100 will be watched and its breaking down will mean testing possibility of 5932.
Market is weak. No bottom fishing and long positions only after consolidation confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Pre-Open Market Outlook(12-11-2010)
I told in Muhurat Trading Outlook:-"Forceful break out and sustaining above 6350 is must for strong rally above new high"
It was told in Pre-Open Market Outlook(09-11-2010):-
2- Sentiment extremely bullish threrefore previous top(6357) break out should be with force.
3- Sentiment heated therefore intraday or very short term 1/2% corrections can be seen any day and it may be a part of consolidation also
4- until complete selling patterns will not develop till then even short term correction will not be considered.
It was told in Pre-Open Market Outlook(11-11-2010):-
Last 3 days trading range is 6245-6310 and intraday charts are suggesting selling at the top of range within 6275-6310 and testing of lower levels of range(6245-6265) is expected. Breaking down of 6245 expected after getting selling confirmations from last 3 sessions intraday charts. Next supports are as follows:-
1- 6245-6260(Support but not strong)
2- 6150-6170(Support but not strong)
3- 6100-6130(Support but not strong)
4- 5932-5995(Strong Support)
6350 was not broken by force therefore correction was seen yesterday
6245 broken by force yesterday and next support ranges have been given and their strength has also been mentioned as well as their testing possibility can not be ruled out. Short term correction is confirmed now and market requires complete consolidations for fresh upmoves. Above mentioned supports testing possibility can not be ruled out. Intermediate term up trend is safe above 5932.
Nifty moved down with Fountain pattern yesterday and it is consolidation pattern but confirmation required. If consolidatiom will be visible today then correction completion will be considered otherwise continuation of down moves to test above mentioned levels will be seen.
2nd support range 6150-6170 testing is expected today and next moves will be decided and posted according to intraday trading patterns.
It was told in Pre-Open Market Outlook(09-11-2010):-
2- Sentiment extremely bullish threrefore previous top(6357) break out should be with force.
3- Sentiment heated therefore intraday or very short term 1/2% corrections can be seen any day and it may be a part of consolidation also
4- until complete selling patterns will not develop till then even short term correction will not be considered.
It was told in Pre-Open Market Outlook(11-11-2010):-
Last 3 days trading range is 6245-6310 and intraday charts are suggesting selling at the top of range within 6275-6310 and testing of lower levels of range(6245-6265) is expected. Breaking down of 6245 expected after getting selling confirmations from last 3 sessions intraday charts. Next supports are as follows:-
1- 6245-6260(Support but not strong)
2- 6150-6170(Support but not strong)
3- 6100-6130(Support but not strong)
4- 5932-5995(Strong Support)
6350 was not broken by force therefore correction was seen yesterday
6245 broken by force yesterday and next support ranges have been given and their strength has also been mentioned as well as their testing possibility can not be ruled out. Short term correction is confirmed now and market requires complete consolidations for fresh upmoves. Above mentioned supports testing possibility can not be ruled out. Intermediate term up trend is safe above 5932.
Nifty moved down with Fountain pattern yesterday and it is consolidation pattern but confirmation required. If consolidatiom will be visible today then correction completion will be considered otherwise continuation of down moves to test above mentioned levels will be seen.
2nd support range 6150-6170 testing is expected today and next moves will be decided and posted according to intraday trading patterns.
Mid-Session Outlook-2(11-11-2010)
6245 Broken and testing of supports mentioned in Pre-Open Outlook is possible.
Mid-Session Outlook(11-11-2010)
I told in Pre-Open Outlook that:-
"Breaking down of 6245 expected after getting selling confirmations from last 3 sessions intraday charts"
6245 broken and Nifty recovered after forming the bottom at 6237. Although good selling in last 3 days but today intraday patterns are not showing genuine selling formations despite down move according to expectations. It has to be kept in mond that all trends are bullish and market is prepare only for very short term correction which may be completed after some consolidations and today intraday patterns are indicating consolidations patterns also.
Sustaining beyond 6245 will be considered for next immediate move confirmations. As and when I shall get confirmations then will convey accordingly.
"Breaking down of 6245 expected after getting selling confirmations from last 3 sessions intraday charts"
6245 broken and Nifty recovered after forming the bottom at 6237. Although good selling in last 3 days but today intraday patterns are not showing genuine selling formations despite down move according to expectations. It has to be kept in mond that all trends are bullish and market is prepare only for very short term correction which may be completed after some consolidations and today intraday patterns are indicating consolidations patterns also.
Sustaining beyond 6245 will be considered for next immediate move confirmations. As and when I shall get confirmations then will convey accordingly.
NIFTY-NOV F&O-1ST SHORTING TRADE OF 10-11-2010-COVERING
NIFTY NOV F & O(SHORTED ON 10-11-2010)-COVER AND BOOK PROFIT IMMEDIATELY-CMP-6289(WE SHALL SHORT AGAIN BUT FIRST COVER)
Short Term Correction will Commence
Pre-Open Market Outlook(11-11-2010)
Last 3 days trading range is 6245-6310 and intraday charts are suggesting selling at the top of range within 6275-6310 and testing of lower levels of range(6245-6265) is expected. Breaking down of 6245 expected after getting selling confirmations from last 3 sessions intraday charts. Next supports are a sfollows:-
1- 6245-6260(Support but not strong)
2- 6150-6170(Support but not strong)
3- 6100-6130(Support but not strong)
4- 5932-5995(Strong Support)
All trends are up and only it was to be decided that new top formations will be after short term correction of before any further correction. As last 3 sessions got selling confirmations therefore firstly correction then consolidation and after that new top formation will be seen and above mentioned supports testing possibility can not be ruled out. Intermediate term up trend is safe above 5932.
Correction commencement expected from today and Red closing will be seen after weak opening today.
Last 3 days trading range is 6245-6310 and intraday charts are suggesting selling at the top of range within 6275-6310 and testing of lower levels of range(6245-6265) is expected. Breaking down of 6245 expected after getting selling confirmations from last 3 sessions intraday charts. Next supports are a sfollows:-
1- 6245-6260(Support but not strong)
2- 6150-6170(Support but not strong)
3- 6100-6130(Support but not strong)
4- 5932-5995(Strong Support)
All trends are up and only it was to be decided that new top formations will be after short term correction of before any further correction. As last 3 sessions got selling confirmations therefore firstly correction then consolidation and after that new top formation will be seen and above mentioned supports testing possibility can not be ruled out. Intermediate term up trend is safe above 5932.
Correction commencement expected from today and Red closing will be seen after weak opening today.
NIFTY-NOV F&O-1ST SHORTING TRADE OF 10-11-2010-TRADE
NIFTY(NOV FUT-SELL-POSITIONAL)SL-6336-TGT-6245-CMP-6309
NIFTY(NOV PUT OPTION-BUY-POSITIONAL)-S.P.FOR PUT-6200,6300-NIFTY(NOV FUT)-RATES ARE FOR SL-6336-TGT-6245 FOR ALL OPTIONS-CMP-6309
NIFTY(NOV PUT OPTION-BUY-POSITIONAL)-S.P.FOR PUT-6200,6300-NIFTY(NOV FUT)-RATES ARE FOR SL-6336-TGT-6245 FOR ALL OPTIONS-CMP-6309
Mid-Session Outlook-3(10-11-2010)
Nifty trading range of today is 6274-6305 and break out this range will be confirmation of next good move. Although last 2 days intraday patterns were suggesting selling but today intraday formations are telling for buying also therefore moves above 6300 will also be considered and sustaing beyond today range will be confirmation of next strong moves.
Mid-Session Outlook-2(10-11-2010)
Nifty could not sustain above 6300 and sliped.Fresh up move confirmation level is sustaining above 6300 therefore be bullish only after sustaining above 6300.
Mid-Session Outlook(10-11-2010)
Intraday patterns suggesting buying today therefore if Nifty sustains above 6300 today then it will be confirmation of consolidatin and correction completion within narrow range as well as continuation of fresh upmoves above 6300 to test all time high.
Post-Open Outlook-2(10-11-2010)
Nifty 19 points down and Nifty Nov Fut 27 points down immediately after opening today and almost neutrialised yesterday sharp surge at 02:03 PM IST sharp surge. As I was having doubts on yesterday sharp surge therefore I told follwing lines in mid night posted today Pre-Open Outlook:-
"Above observation has been presented with this intention that yesterday glbals cues led voltality and higher level closing may be for selling in heating sentiment"
I also posted a topic at 04:44 PM yesterday which name was "Sharp Surge in All Global Markets in 1 Minute Today". i told following lines in that topic:-
"Confirmations required to validate mentioned sharp surge"
Althogh Indian markets closed positive near the top of rally yesterday but I started today Pre-Open Market Outlook with following lines:-
"Last 2 days trading range is 6245-6310 with selling patterns within mentioned range"
Although weak opening but yesterday minor intraday support near 6245 also and if Nifty sustains below it today then it will be very short term correction confirmation.
"Above observation has been presented with this intention that yesterday glbals cues led voltality and higher level closing may be for selling in heating sentiment"
I also posted a topic at 04:44 PM yesterday which name was "Sharp Surge in All Global Markets in 1 Minute Today". i told following lines in that topic:-
"Confirmations required to validate mentioned sharp surge"
Althogh Indian markets closed positive near the top of rally yesterday but I started today Pre-Open Market Outlook with following lines:-
"Last 2 days trading range is 6245-6310 with selling patterns within mentioned range"
Although weak opening but yesterday minor intraday support near 6245 also and if Nifty sustains below it today then it will be very short term correction confirmation.
Pre-Open Market Outlook(10-11-2010)
Last 2 days trading range is 6245-6310 with selling patterns within mentioned range. Nifty traded 2 hours yesterday within 6245-6265 and after that sharp surge was seen at 02:03 PM IST. I am presenting my following observation for mentioned 02:03 PM IST sharp surge:-
Sharp surge was seen in all the running global markets at 02:03 PM IST yesterday. Sharp upmoves within 1 minute seen in all the following running global markets:-
1- Dow Futures- recovered more than 27 points within 1 minute
2- FTSE 100- recovered more than 25 points within 1 minute
3- CAC 40- recovered more than 17 points within 1 minute
4- Dax- recovered more than 22 points within 1 minute
5- Nifty- recovered more than 15 points within 1 minute
International event is not known for mentioned international sharp surge but Red zone trading European Indices traded and closed in Green with higher levels selling patterns. Dow Futures recovered from -40 to +30 and traded 50 points down yesterday and Nifty surged from Red to Green and closed near the top of the day.
Above observation has been presented with this intention that yesterday glbals cues led voltality and higher level closing may be for selling in heating sentiment therefore yesterday closing above 6300 should not be taken as upmove and immediate new top formation confirmation but let Nifty sustain above 6300 with consolidation patterns then that will be confirmation of immediate sharp up moves to test levels in this week weekly. If Nifty sustains below 6240 after fresh seeling today then that will be short term correction confirmation and yesterday mentioned supports may be tested.
Range bound market in last 2 sessions and market will prepare in the coming sessions for next moves as well as break out of last 2 days range with force as well as sustainability beyond will give next move confirmations.
Nifty will trade first within last 2 days trading range.As patterns are mixed therefore let market prepare then break out diretion will be decided from intraday charts formations.
Sharp surge was seen in all the running global markets at 02:03 PM IST yesterday. Sharp upmoves within 1 minute seen in all the following running global markets:-
1- Dow Futures- recovered more than 27 points within 1 minute
2- FTSE 100- recovered more than 25 points within 1 minute
3- CAC 40- recovered more than 17 points within 1 minute
4- Dax- recovered more than 22 points within 1 minute
5- Nifty- recovered more than 15 points within 1 minute
International event is not known for mentioned international sharp surge but Red zone trading European Indices traded and closed in Green with higher levels selling patterns. Dow Futures recovered from -40 to +30 and traded 50 points down yesterday and Nifty surged from Red to Green and closed near the top of the day.
Above observation has been presented with this intention that yesterday glbals cues led voltality and higher level closing may be for selling in heating sentiment therefore yesterday closing above 6300 should not be taken as upmove and immediate new top formation confirmation but let Nifty sustain above 6300 with consolidation patterns then that will be confirmation of immediate sharp up moves to test levels in this week weekly. If Nifty sustains below 6240 after fresh seeling today then that will be short term correction confirmation and yesterday mentioned supports may be tested.
Range bound market in last 2 sessions and market will prepare in the coming sessions for next moves as well as break out of last 2 days range with force as well as sustainability beyond will give next move confirmations.
Nifty will trade first within last 2 days trading range.As patterns are mixed therefore let market prepare then break out diretion will be decided from intraday charts formations.
Sharp Surge in All Global Markets in 1 Minute Today
Sharp surge was seen in all the running global markets at 02:03 PM IST today. Sharp upmoves within 1 minute seen in all the following running global markets:-
1- Dow Futures- recovered more than 27 points within 1 minute
2- FTSE 100- recovered more than 25 points within 1 minute
3- CAC 40- recovered more than 17 points within 1 minute
4- Dax- recovered more than 22 points within 1 minute
5- Nifty- recovered more than 15 points within 1 minute
International event is not known but Red zone trading European Indices are trading more than .65% up at this moment and more than 40 points down trading Dow futures is trading 12 points up at this moment. Confirmations required to validate mentioned sharp surge.All these up moves started at 02:03 PM IST today from above mentioned 1 minute sharp surge.
1- Dow Futures- recovered more than 27 points within 1 minute
2- FTSE 100- recovered more than 25 points within 1 minute
3- CAC 40- recovered more than 17 points within 1 minute
4- Dax- recovered more than 22 points within 1 minute
5- Nifty- recovered more than 15 points within 1 minute
International event is not known but Red zone trading European Indices are trading more than .65% up at this moment and more than 40 points down trading Dow futures is trading 12 points up at this moment. Confirmations required to validate mentioned sharp surge.All these up moves started at 02:03 PM IST today from above mentioned 1 minute sharp surge.
NIFTY-NOV F&O-1ST SHORTING TRADE OF 08-11-2010-COVERING
NIFTY NOV F & O(SHORTED ON 08-11-2010)-COVER IMMEDIATELY-CMP-6311
NIFTY-NOV F&O-1ST SHORTING TRADE OF 08-11-2010-MESSAGE
NIFTY NOV F & O(SHORTED ON 08-11-2010)-MARKET MAY BE VOLATILE THEREFORE DO NOT COVER AT STOP LOSS AND JUST WAIT FOR MY COVERING MESSAGE
Pre-Open Market Outlook(09-11-2010)
Following things were told in last 2 days outlooks:-
1- All trends are up,market near all time high and next technicals levels has been posted in weekly.
2- Sentiment extremely bullish threrefore previous top(6357) break out should be with force.
3- Sentiment heated therefore intraday or very short term 1/2% corrections can be seen any day and it may be a part of consolidation also
4- until complete selling patterns will not develop till then even short term correction will not be considered.
As market did not fulfilled the condition of forceful break out and did not showed strength as well as selling paternes indicated in intraday charts therefore I told within first 2 hours in Mid-Session Outlook yesterday:-
1- if follw up selling develop today then reversal of last week up move will be considered.
2- 6270-6300 should be watched.
Nifty traded most of the time and closed within 6270-6300 with intraday selling patterns within 6285-6300 yesterday and it will be resistance range as well as consolidation requires today for sustaining above 6300. If follow up selling develop today and Nifty sustains below 6270 then very short term correction will be considered. Next supports are as follows:-
1- 6240-6260(Support but not strong)
2- 6150-6170(Support but not strong)
3- 6100-6130(Support but not strong)
4- 5932-5995(Strong Support)
Only one day selling is sufficient to tell only for very short term correction which is possible today and today intraday patterns will decide next moves of Indian markets. Firstly trading below 5270 expected and follow up selling/buying will decide today closing and next moves. Whatsoever intraday trading patterns will suggest then will be posted accordingly in mid session outlooks.
1- All trends are up,market near all time high and next technicals levels has been posted in weekly.
2- Sentiment extremely bullish threrefore previous top(6357) break out should be with force.
3- Sentiment heated therefore intraday or very short term 1/2% corrections can be seen any day and it may be a part of consolidation also
4- until complete selling patterns will not develop till then even short term correction will not be considered.
As market did not fulfilled the condition of forceful break out and did not showed strength as well as selling paternes indicated in intraday charts therefore I told within first 2 hours in Mid-Session Outlook yesterday:-
1- if follw up selling develop today then reversal of last week up move will be considered.
2- 6270-6300 should be watched.
Nifty traded most of the time and closed within 6270-6300 with intraday selling patterns within 6285-6300 yesterday and it will be resistance range as well as consolidation requires today for sustaining above 6300. If follow up selling develop today and Nifty sustains below 6270 then very short term correction will be considered. Next supports are as follows:-
1- 6240-6260(Support but not strong)
2- 6150-6170(Support but not strong)
3- 6100-6130(Support but not strong)
4- 5932-5995(Strong Support)
Only one day selling is sufficient to tell only for very short term correction which is possible today and today intraday patterns will decide next moves of Indian markets. Firstly trading below 5270 expected and follow up selling/buying will decide today closing and next moves. Whatsoever intraday trading patterns will suggest then will be posted accordingly in mid session outlooks.
NIFTY-NOV F&O-1ST SHORTING TRADE OF 08-11-2010-MESSAGE
NIFTY NOV F & O(SHORTED TODAY)-SELLING PATTERNS DEVELOPED TODAY THEREFORE ROLL OVER TO TOMORROW AND JUST WAIT FOR MY COVERING MESSAGE
NIFTY-NOV F&O-1ST SHORTING TRADE OF 08-11-2010-MESSAGE
NIFTY NOV F & O(SHORTED TODAY)-VOLTALITY DUE TO OBAMA LIVE SPEECH. DO NOT COVER AT STOP LOSS AND WAIT FOR MY COVERING MESSAGE
NIFTY-NOV F&O-1ST SHORTING TRADE OF 08-11-2010-TRADE
NIFTY(NOV FUT-SELL-POSITIONAL)SL-6326-TGT-6245-CMP-6295
NIFTY(NOV PUT OPTION-BUY-POSITIONAL)-S.P.FOR PUT-6200,6300-NIFTY(NOV FUT)-RATES ARE FOR SL-6326-TGT-6245 FOR ALL OPTIONS-CMP-6295
NIFTY(NOV PUT OPTION-BUY-POSITIONAL)-S.P.FOR PUT-6200,6300-NIFTY(NOV FUT)-RATES ARE FOR SL-6326-TGT-6245 FOR ALL OPTIONS-CMP-6295
Mid-Session Outlook(08-11-2010)
Market did not showed strength today and today intraday charts are indicating selling paternes. As complete selling patterns requires for reversal of last week up moves near all time high therefore if follow up selling develop today then reversal of last week up move will be considered. 6270-6300 should be watchrd for confirmation of:-
1 Very short term correction or
2 Continuation of last week upmove to test historical high without any correction.
1 Very short term correction or
2 Continuation of last week upmove to test historical high without any correction.
Post-Open Outlook(08-11-2010)
Nifty moved below Muhurat session Trading range(6305-6330) immediately opening today. It is first weakness signal and complete sellig patterns requeres for any down move and today intraday charts will decide that selling developed or not. Next support is at 6240.
Pre-open outlook(08-11-2010)
Positive opening. Forceful break out and sustaining above 6359 is must for next up move confirmations. Sentiment heated today morning therefore firstly trading near 6330 expected after positive opening and voltality expected after some profit possibility can not be ruled out.
Muhurat session Trading range(6305-6330) is next move confirmation range and sustaining beyond will give trend confirmations. All trends are bullish and only minor profit booking signals in Muhurat session at this moment therefore finally upmoves expected after some intraday consolidations.
View should remain bullish until complete selling patterns does not develop.
Muhurat session Trading range(6305-6330) is next move confirmation range and sustaining beyond will give trend confirmations. All trends are bullish and only minor profit booking signals in Muhurat session at this moment therefore finally upmoves expected after some intraday consolidations.
View should remain bullish until complete selling patterns does not develop.
Rally with intraday and very short term corrections
Weekly Analysis-08-11-2010 to 12-11-2010
All trends are up after completing short term correction in last week. March 2009 rally has not only formed new top but trading near all time high also and any day Indian markets may set new historical top as well as Wave 3 may test its minimum target of 6359. Trading within no men land possibility is high in this week. Sentiment extremely bullish threrefore previous top(6357) break out should be with force and Nifty must sustain above even after intraday or very short term correction.
Sentiment heated therefore intraday or very short term 1/2% corrections can be seen any day and it may be a part of consolidation also but until complete selling patterns will not develop till then even short term correction will not be considered. Market is bullish therefore it should be kept in mind that in bullish rally consolidation may happen at higher rates also after any positive development and continuous upmoves will be seen after regular consolidations. Short term correction should be considered after selling patterns minimum on daily charts.
1-Wave 3 chart:-
I am non stop told in last 1 year for Wave 3 minimum target at 6359 and Nifty made 6338 last Friday. Now next levels of Nifty are as follows:-
1- 100%- 6359
2- 113%- 6676
3- 123.6%- 6935
4- 127%- 7017
5- 138.2%- 7291
Wave 3 started on 13-07-2009 from 3919 and corection of whole wave will start from or near about of any of above levels. Complete selling patterns requires for short term correction and until that will not develop till then any down move will not be considered and continuation of ongoing upmoves will be expected at this moment.
Nifty will travel in no men's land above 6357 therefore Rocket like forceful moves may also be expected. Shorting should be done after selling patterns developments and higher levels can not be a base of shorting or selling because in bullish rallies unbelievable rates may also be possible. As bull rally is on and trade should be done along the trend but this fact should also be kept in mind that rally is 16 months old and correction may start from any of above level therefore stocks selection should be done with most care because many stocks are overbought also. Technical positions has been expllained and fresh investments should be done after minimum very short term correction with adequate stop loss.
2- Declining Channel Break Out chart:-
Declining channel broken out in previous week and strong rally seen therefore continuation of trend should be expected until fresh selling formations and reveral patterns does not develop on daily chart.
Strong rally is on and Very short term indicators are overbought therefore upmoves expected with intrady or very short term corrections in this week.
All trends are up after completing short term correction in last week. March 2009 rally has not only formed new top but trading near all time high also and any day Indian markets may set new historical top as well as Wave 3 may test its minimum target of 6359. Trading within no men land possibility is high in this week. Sentiment extremely bullish threrefore previous top(6357) break out should be with force and Nifty must sustain above even after intraday or very short term correction.
Sentiment heated therefore intraday or very short term 1/2% corrections can be seen any day and it may be a part of consolidation also but until complete selling patterns will not develop till then even short term correction will not be considered. Market is bullish therefore it should be kept in mind that in bullish rally consolidation may happen at higher rates also after any positive development and continuous upmoves will be seen after regular consolidations. Short term correction should be considered after selling patterns minimum on daily charts.
1-Wave 3 chart:-
I am non stop told in last 1 year for Wave 3 minimum target at 6359 and Nifty made 6338 last Friday. Now next levels of Nifty are as follows:-
1- 100%- 6359
2- 113%- 6676
3- 123.6%- 6935
4- 127%- 7017
5- 138.2%- 7291
Wave 3 started on 13-07-2009 from 3919 and corection of whole wave will start from or near about of any of above levels. Complete selling patterns requires for short term correction and until that will not develop till then any down move will not be considered and continuation of ongoing upmoves will be expected at this moment.
Nifty will travel in no men's land above 6357 therefore Rocket like forceful moves may also be expected. Shorting should be done after selling patterns developments and higher levels can not be a base of shorting or selling because in bullish rallies unbelievable rates may also be possible. As bull rally is on and trade should be done along the trend but this fact should also be kept in mind that rally is 16 months old and correction may start from any of above level therefore stocks selection should be done with most care because many stocks are overbought also. Technical positions has been expllained and fresh investments should be done after minimum very short term correction with adequate stop loss.
2- Declining Channel Break Out chart:-
Declining channel broken out in previous week and strong rally seen therefore continuation of trend should be expected until fresh selling formations and reveral patterns does not develop on daily chart.
Strong rally is on and Very short term indicators are overbought therefore upmoves expected with intrady or very short term corrections in this week.
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