Nifty(Feb Fut)-Trading Strategy for 07-02-2011

H6 5598 Trgt 2 
H5 5550 Trgt 1 
H4 5502 Long breakout 
H3 5444  Go Short 
H2 5425
H1 5406
L1 5367
L2 5348
L3 5329 Long 
L4 5271 Short Breakout 
L5 5223  Trgt 1 
L6 5175  Trgt 2

Trading Levels for 07-02-11

Nifty Spot Levels for 07-02-2011

R3 5698
R2 5627
R1 5511
AVG 5440
S1 5324
S2 5253
S3 5137

Nifty Feb Futures Levels for 07-02-2011

R3 5726
R2 5646
R1 5516
AVG 5436
S1 5306
S2 5226
S3 5096

Bank Nifty Feb Futures Levels for 07-02-2011

R3 11107
R2 10953
R1 10687
AVG 10533
S1 10267
S2 10113
S3 9847

Nifty Spot Weekly Levels (07 Feb to 11 Feb 2011)

R3 5698 
R2 5627 
R1 5511 
AVG 5440 
S1 5324 
S2 5253 
S3 5137 

NIFTY-FEB F&O-1ST BUYING OF 04-02-2011-TRADE

NIFTY(FEB FUT-BUY-BTST)SL-5324-TGT-5515-CMP-5365
NIFTY(FEB CALL OPTION-BUY-BTST)-S.P.FOR CALL-5400,5500-NIFTY(FEB FUT)-RATES ARE
FOR SL-5324-TGT-5515 FOR ALL OPTIONS-CMP-5365
(NO COVERING TODAY.COVERING WILL BE DONE IN NEXT WEEK)

Pre-Open Market Outlook(04-02-2011)

Following lines were told yesterday after last hour sharp fall following A.Raja arrest one day before:-

"Reasons for next bullish market view have been posted in previous outlooks and expecting rally in the coming weeks after sustaining above 5460."

Technically nothing was left to hope for bull markets except Wave-3 trend line(5460) and I non stop continuously told for the expectations of its survival. It was broken down but Nifty could not sustain below it and recovered nicely yesterday.

Technical requirements for next rally are as follows:-

1- Sustaining above 5460.
2- Sustaining above 200-day EMA(5643).
3- Crossing next resistance range(5680-5800)

As I have already told many times that Jan 2011 sharp down moves are only result of non stop big negative news. Last month begun with strong Bullish outlook and finished with most Bearish notes. Last month sharp falls are only on negative news based without much distribution patterns therefore resistances at higher levels are not much stronger. Let rally begun then sharp upmoves will be seen.

'ABC' correction was on for the last 4 months and its 'c' wave has been finished in last 3 sessions move near 5460. Fresh rally expected after 4 months correction completion.

Positive closing expected today.

Nifty(Feb Fut)-Trading Strategy for 04-02-2011

                                                              
H6 5661  Trgt 2 
H5 5633 Trgt 1 
H4 5605 Long breakout 
H3 5572  Go Short 
H2 5561
H1 5550
L1 5528
L2 5517
L3 5506  Long 
L4 5473 Short Breakout 
L5 5444  Trgt 1 
L6 5416  Trgt 2

Trading Levels for 04-02-11

Nifty Spot Levels for 04-02-2011 

R3 5682
R2 5607
R1 5567
AVG 5492
S1 5452
S2 5377
S3 5337

Nifty Feb Futures Levels for 04-02-2011

R3 5702
R2 5624
R1 5581
AVG 5503
S1 5460
S2 5382
S3 5339

Bank Nifty Feb Futures Levels for 04-02-2011

R3 11117
R2 10931
R1 10816
AVG 10630
S1 10515
S2 10329
S3 10214

RIL & ICICI BANK-FEB F&O-1ST BUYING OF 02-02-2011-COVERING

RIL & ICICI BANK- FEB F & O(BOUGHT ON 02-02-2011)-COVER AND BOOK PROFIT IMMEDIATELY-CMP-937 & 1032

Hold all long trades which I have given

I always post covering message therefore wait only for that.

TATA MOTORS-FEB F&O-1ST BUYING OF 02-02-2011-COVERING

TATA MOTORS- FEB F & O(BOUGHT ON 02-02-2011)-TARGET ACHIEVED.COVER AND BOOK PROFIT IMMEDIATELY-CMP-1130

Pre-Open Market Outlook(03-02-2011)

Indian markets traded strong after gap up opening but A.Raja arrest news spearheaded bulls in last half hour and Indian markets closed with minor gains yesterday. Lot of uncertainity due to Raja arrest and Egypt internal problems therefore first of all 5460 will be watched because that will give 100% confirmation that Wave-3 trendline is survived or not. All crociaal supports have broken dowm and only 5460 is left as well as Nifty is hovering around for the last 3 sessions.

Inflation data today therefore some amount of voltality will also be possible. As per my view  sustaining beyond 5460 should be watched today because news based voltality is high and intraday charts are also showing mixd formations.

Reasons for next bullish market view have been posted in previous outlooks and expecting rally in the coming weeks after sustaining above 5460.

Nifty(Feb Fut)-Trading Strategy for 03-02-2011

H6 5531  Trgt 2
H5 5511  Trgt 1
H4 5490  Long breakout
H3 5466   Go Short
H2 5458
H1 5450
L1 5433
L2 5425
L3 5417   Long
L4 5393 Short Breakout
L5 5372  Trgt 1
L6 5352  Trgt 2

Trading Levels for 03-02-11

Nifty Spot Levels for 03-02-2011

R3 5551
R2 5521
R1 5476
AVG 5446
S1 5401
S2 5371
S3 5326

Nifty Feb Futures Levels for 03-02-2011

R3 5583
R2 5546
R1 5494
AVG 5457
S1 5405
S2 5368
S3 5316

Bank Nifty Feb Futures Levels for 03-02-2011

R3 10795
R2 10717
R1 10607
AVG 10529
S1 10419
S2 10341
S3 10231

RCOM-FEB F&O-1ST BUYING OF 02-002-2011-TRADE

RCOM(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-115.90-TGT-128-S.P.FOR CALL-120,130-CMP-119.45
(ALL RATES ARE SPOT)

ICICI BANK-FEB F&O-1ST BUYING OF 02-002-2011-TRADE

ICICI BANK(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-988-TGT-1058-S.P.FOR CALL-1000,1150-CMP-1015
(ALL RATES ARE SPOT)

RIL & TATA MOTORS-FEB F&O-1ST BUYING OF 02-002-2011-TRADE

RIL(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-894-TGT-948-S.P.FOR CALL-920,940-CMP-918
TATA MOTORS(FEB FUT-BUY/CALL-BUY-POSITIONAL)SL-1168-TGT-1128-S.P.FOR CALL-1100,1150-CMP-1086

(ALL RATES ARE SPOT)

Pre-Open Market Outlook(02-02-2011)

ABC correction is on and Wave-3 trendline broken(5460) down yesterday after sustaining below 200 day EMA(5646). Yesterday candle was Engulfing Bearish and it is also bearish move indication. All the technical indicators are signalling bearish market begining but following mild signals are telling for wait and watch a little before forming bearish market view:-

1-Although Indian markets closed more than 1% down yesterday but intraday charts of yesterday are not suggesting selling patterns therefore yesterday trading range(5400-5450) should be watched for bearish market confirmation.

2- Indicators are oversold and some are showing divergence also therefore bounce back posibility can not be ruled out.

Conclusion:-


All the confirmations of bearish markets begining but still Bullish markets expected because no Distribution pattern and only correction patterns. Still expecting rally and breaking out of 5400-5450 will be watched first for next immediate move confirmation.

Nifty(Feb Fut)-Trading Strategy for 02-02-2011

 H6 5559   Trgt 2
H5 5529   Trgt 1
H4 5500   Long breakout
H3 5464   Go Short
H2 5452
H1 5440
L1 5416
L2 5403
L3 5391   Long
L4 5356  Short Breakout
L5 5326  Trgt 1
L6 5297  Trgt 2

Trading Levels for 02-02-11

Nifty Spot Levels for 02-02-2011 

R3 5637
R2 5587
R1 5502
AVG 5452
S1 5367
S2 5317
S3 5232

Nifty Feb Futures Levels for 02-02-2011

R3 5652
R2 5597
R1 5512
AVG 5457
S1 5372
S2 5317
S3 5232

Bank Nifty Feb Futures Levels for 02-02-2011

R3 10902
R2 10811
R1 10652
AVG 10561
S1 10402
S2 10311
S3 10152

Pre-Open Market Outlook(01-02-2011)

When all the global markets were crashed then following lines were told yesterday. As relevant therefore repeating:-

1- Pre-Open Outlook:-

1- "As other markets were overbought therefore their correction was natural but Indian markets are oversold and will react this news in another manner"
2- "Sentiment completely depressed today morning and sustaining beyond 5460(spot) will decide fate of long term trend"

2- Mid-session Outlook at 12:15 pm:-

1- "Nifty opened and firstly traded below 5460 in deep depressed sentiments today morning and got intraday support at lower levels. All supports have been broken and only Wave-3 trendline support is left which is at 5460"
2- "Nifty opened and firstly traded below 5460 in deep depressed sentiments today morning and got intraday support at lower levels. All supports have been broken and only Wave-3 trendline support is left which is at 5460"
3- "Let more consolidation and support emerge then up move expectations will certainly be considered despite crashing global markets and Egypt internal problems"

Intraday charts of yesterday are showing genuine buying patterns and good support was seen at lower levels as well as good recovery seen before closing near trading high of the day. All this has given strong indication of 'ABC' correction completion but not sufficient and sustaining above 200-day EMA is must for on going uptrend confirmation.

As no distribution pattern in last 4 months EOD chart and 'ABC'correction seen therefore fresh rally possibility is alive after emergence of correction completion signals in last 2 sessions. Detailed analysis has been posted in weekly and 200-day EMA testing is possible in the coming sessions. Sustaining above 200-day EMA is must now for confirmation of mentioned uptrend.

Nifty(Feb Fut)-Trading Strategy for 01-02-2011

H6 5633 Trgt 2
H5 5608 Trgt 1                                                                                                                         H4 5583 Long breakout
H3 5553 Go Short
H2 5544
H1 5534
L1 5514
L2 5504
L3 5495 Long
L4 5465 Short Breakout
L5 5440 Trgt 1
L6 5415 Trgt 2

Trading Levels for 01-02-11

R3 5659
R2 5593
R1 5549
AVG 5483
S1 5439
S2 5373
S3 5329 


Nifty Feb Futures Levels for 01-02-2011


R3 5747
R2 5684
R1 5610
AVG 5547
S1 5473
S2 5410
S3 5336


Bank Nifty Feb Futures Levels for 01-02-2011


R3 11078
R2 10901
R1 10786
AVG 10609
S1 10494
S2 10317
S3 10202

Trading Levels for the month Feb 2011

R3 5083
R2 5132
R1 5319
AVG 5368 
S1 5555
S2 5604
S3 5791

Mid-session outlook(31-01-2011)

Nifty opened and firstly traded below 5460 in deep depressed sentiments today morning and got intraday support at lower levels. All supports have been broken and only Wave-3 trendline support is left which is at 5460. Nifty trading above it at present and if sustains above then other bulls supporting points will be considered. My view is Bullish but cautious also because Nifty is trading below 200-Day EMA. Let more consolidation and support emerge then up move expectations will certainly be considered despite crashing global markets and Egypt internal problems.

Nifty hovering around 5460 and its sustaining beyond will be watched first for the begining of next moves.

NIFTY-FEB F&O-2ND BUYING OF 27-01-2011-MESSAGE

NIFTY FEB F & O(BOUGHT ON 27-01-2011)-GLOBAL CRASH DUE TO EGYPT INTERNAL PROBLEM.HOLD AND JUST WAIT FOR MY COVERING MESSAGE.

Pre-Open Market Outlook(31-01-2011)

Firstly US markets corrected sharply after Egypt internal unrest and after that all Asian markets are also steep down today morning. As other markets were overbought therefore their correction was natural but Indian markets are oversold and will react this news in another manner. Gravity of Egyption problem and repercussion on global economy is not known yet and all the global markets are reacting with sharp declines since its eruption.

SGX Nifty is also trading more than 90  points down since morning today. Indian markets long term trend is at stake. Sentiment completely depressed today morning and sustaining beyond 5460(spot) will decide fate of long term trend.

Let Indian markets react global crash today then will be decided according to intraday charts patterns.

200-Day EMA broken but Uptrend is Still Intact

Weekly Analysis- 31-01-2011 to 04-02-2011

200-Day EMA broken down last Thursday and Nifty dipped more than 3% from it last Friday as well as 2 sessions closing below it is putting a question mark that whether Indian markets are entering into Bear phase. Most Bullish started month is ending in most Bearish mood. Sentiment was at its peak in the begining and at the bottom in the last and both are extreme points,Financial markets are tend to reverse in extreme(over bought/over sold) situations.

200-Day EMA broken down in last week as well as Wave 3 trendline also tested but Nifty reversed also without breaching it. It means wave 3 and uptrend is still intact and Indian markets have not entered into Bearish Phase yet.

1-Waves Structure Chart:-

(Just click on chart for its enlarged view)

ABC correction is continued for the last 4 months and Wave 'C' corrected 100% of Wave 'A' in last week. its calculations are as follows:-

A Wave -6339-5690=corrected 649 Points
C Wave- 6181-6460=corrected 721 Points
C Wave- 6181-5512(closing)=corrected 669 Points

2 Strong support ranges are as follows:-

Strong Support Range-5349-5550
Strong Support Range-5210-5349

2-ABC Correction Chart:-

(Just click on chart for its enlarged view)

Fibonacci Retracement Levels

Nifty retraced and moved within 50% and 61.8% retracement levels last Friday and strong supports within this range also therefore dipping below 61.6%(5379) and then breaking down of 5210 will mean neutralising of strong supports and certain entering into bearish markets to test much lower levels. Sustaining above 50%(5562) and then crossing 200-Day EMA(5650) will mean continuation of upmove after completion of correction.

3-Fibonacci Retracement Levels Chart:-

(Just click on chart for its enlarged view)

Conclusions

ABC correction is continued and it is only correction and it also means that after its completion those bullish moves of Wave-3 will be seen about which Indian markets dreamed in the begining of year 2011. Certainly it is worrysome for the Bullishness of Indian markets that 200-Day EMA broken down with force in last week and more than 3% down move from it have been happened as well as Nifty has closed below it 2 days also. If Nifty close below 5650 on next Monday then its breaking down will be almost confirm. Sustaining below 200-Day EMA will certainly be strong indication of begining of Bear markets but Wave-3 trend line has not breached yet and Nifty reversed sharply after testing it last Friday. It means that uptrend is still alive despite breaking down of 200-Day EMA. Wave 'C' of 'ABC' correction has retraced 100% of Wave 'A' last Friday and completion of ABC correction possibility will be considered if Nifty sustaining above last Friday lowest(6460).

Strong supports within 5210-5550 and Nifty traded within it last Friday and Indian markets require complete selling patterns to break it down. Jan 2011 correction is only 'ABC' correction and no distribution pattern therefore it will be understood only correction despite breaking down of 200-Day EMA. I would like add here that no big selling pattrens on intraday charts in the steep fall of 2011. As wave 'c' has also retraced 100% therefore expected that correction will complete near the bottom of last Friday and fresh rally will be seen after completion of 'ABC' correction. No thumb rule for financial markets and if consolidation seen in the begining of week then it will be strong indication of correction completion and then 200-Day EMA crossing upward possibility will be high.

Firstly consolidations and then Up moves expected in the coming week.

Nifty(Feb Fut)-Trading Strategy for 31-01-2011

H6     5876    Trgt 2 

H5     5798    Trgt 1 

H4     5721     Long breakout 

H3     5628     Go Short 

H2     5597

H1     5567

L1     5505

L2     5474

L3     5443      Long 

L4     5350      Short Breakout 

L5     5273      Trgt 1 

L6     5195      Trgt 2

Trading Levels for 31-01-11 & Next Week Levels

Nifty Spot Levels for 31-01-2011 

                                       R3 5751.33   

R2 5682.67 

R1 5597.33 

AVG 5528.67 

S1 5443.33 

S2 5374.67 

S3 5289.33 

Nifty Feb Futures Levels for 31-01-2011 

R3 5747.33 

R2 5684.67 

R1 5610.33 

AVG 5547.67 

S1 5473.33 

S2 5410.67 

S3 5336.33   

Bank Nifty Feb Futures Levels for 31-01-2011 

R3 10992.33 

R2 10875.67 

R1 10755.33 

AVG 10638.67 

S1 10518.33 

S2 10401.67 

S3 10281.33  

Nifty Spot Weekly Levels (31 Jan to 04 Feb 2011)

R3 6064.67 

R2 5933.33 

R1 5722.67 

AVG 5591.33 

S1 5380.67 

S2 5249.33 

S3 5038.67