Supports at Crucial Levels on 11-02-2011

Supports at Crucial Levels on 11-02-2011:-

1- Strong Support at 5210
2- Support at Wave-3 Corrections Rising Trend Line

Nifty(Feb Fut)-Trading Strategy for 14-02-2011

H6 5475      Trgt 2 
H5 5438      Trgt 1
H4 5401      Long breakout 
H3 5359      Go Short 
H2 5345
H1 5331
L1 5302
L2 5288
L3 5274      Long 
L4 5232      Short Breakout 
L5 5195      Trgt 1 
L6 5158      Trgt 2

Bank Nifty(Feb Fut)-Trading Strategy for 14-02-2011

H6 10902     Trgt 2 
H5 10798     Trgt 1
H4 10695     Long breakout 
H3 10578     Go Short 
H2 10539
H1 10500
L1 10423
L2 10384
L3 10345     Long 
L4 10228     Short Breakout 
L5 10125     Trgt 1 
L6 10021     Trgt 2

Trading Levels for 14-02-11

Nifty Spot Levels for 14-02-2011

R3 5502
R2 5410
R1 5360
AVG 5268
S1 5218
S2 5126
S3 5076

Nifty Feb Futures Levels for 14-02-2011

R3 5526
R2 5427
R1 5372
AVG 5273
S1 5218
S2 5119
S3 5064

Bank Nifty Feb Futures Levels for 14-02-2011

R3 11041
R2 10772
R1 10617
AVG 10348
S1 10193
S2 9924
S3 9769

Nifty Spot Weekly Levels (14 Feb to 18 Feb 2011)

R3 5704
R2 5572
R1 5441
AVG 5309
S1 5178
S2 5046
S3 4915

Fibonacci levels For on going Wave-3 Correction

Correction of Wave-3 is on and this correction will be according to those Fibonacci levels which are as follows:-

38.2%- 5414
50.0%- 5129
61.8%- 4843
70.7%- 4628
76.4%- 4490
78.6%- 4436
88.6%- 4194

Targets of ongoing "ABC" Correction

3rd impulsive wave termination at 6339 is confirmed on 05-11-2010 and 'A' wave of 4th corrective wave started same day.

"ABC" correction Target

1- 'A' Wave- 6339-5690= 649 points down
2- 'B' Wave- 6181-5690= 491 points UP
3- 'C' Wave- Target-

1-6181-649(100.0% Retracement)=5532
2-6181-897(138.2% Retracement)=5284
3-6181-974(150.0% Retracement)=5207
4-6181-1050(161.8% Retracement)=6131

Pre-closing outlook(11-02-2011)

Following conclusive Bullish lines were told in today outlooks:-

1- Pre-open outlook- "Sustaining above 5220 and positive closing expected today"

2- Mid-session outlook(When Nifty was below 5200)- "As support seen near 5200 yesterday therefore it has to be ascertained today that today move below 5200 is genuine down move or IIP data negative news impact only"

3- Mid-session outlook-2(When Nifty noved above 5200)- "As no clear distribution pattern in last 4 months EOD charts therefore 1st Jan 2011 bullish markets hopes are still alive despite all negative developments"

Although Nifty moved below 5200 sharply but doubts expressed on that down moves and again and again whole day told for that rally which was seen despite depressing IIP data.

Mid-session outlook-2(11-02-2011)

Nifty slipped below 5200 after weaker IIP data but sustaining below was not expected therefore doubts were expressed in Mid-session outlook. It should be kept in mind that 5200 is most strong support and trend decider at present also. Sustaining beyond 5200 will decide:-

1- Sustaining below will mean levels much below 5000.
2- Sustaining above will mean revival of all those bullish expectation from which 2011 begun.

As no clear distribution pattern in last 4 months EOD charts therefore 1st Jan 2011 bullish markets hopes are still alive despite all negative developments.

Mid-session outlook(11-02-2011)

2011 is Indian stock markets Adverse News Year and markets loosing crucial supports after every such depressing news.

5210 was the most strong support and it is broken down after weaker IIP data today. As this support broken down in most bearish sentiment today therefore sustaining below 5210 will be watched first and if Nifty sustains below today then no hopes for Bulls and levels below 5000 will be seen.

As support seen near 5200 yesterday therefore it has to be ascertained today that today move below 5200 is genuine down move or IIP data negative news impact only.

Pre-Budget Pull Back Rally Possible

Pre-Open Market Outlook(11-02-2011)

Most bullish begun 2011 lost 982 Nifty points in just only 28 sessions and all the trends turned negative as well Indian markets entered into Bear Phase also. Although Nifty could not suustained at higher levels and  tested lowest point of strong support(5210) after sharp slipping as well as closed near it at 5226 yesterday but no intraday distribution formations and on the contrary whole day consolidation patterns seen. Genuine intraday consolidation patterns within 5200-5220 yesterday therefore this range will be first support now and if Nifty sustains above it today begining of Pre-Budget Pull Back Rally Possibility can not be ruled out.

Nifty intraday chart of 10-02-2011

(Just click on chart for its enlarged view)

Oscillators are showing positive divergence in oversold zone therefore an up move is due now and after yesterday intraday charts consolidation patterns Pull Back Rally may be seen but Indian markets have entered into Bear phase therefore minimum one resistance upward crossing is must for rally confirmation.Next resistance ranges are as follows:-

1- 5315-5365
2- 5400-5460
3- 5660-5780(Strong resistance)

Pull Back Rally from here may test 200-Day EMA(today at 5627) therefore this possibility should be kept in mind after Pull Back Rally confirmation. Opening will depend on Asian markets cues but sustaining beyond 5200-5220 should be watched first and crossing upward 5270 will be fresh up move confirmation.

Sustaining above 5220 and positive closing expected today.

Nifty(Feb Fut)-Trading Strategy for 11-02-2011

H6 5305     Trgt 2 
H5 5288     Trgt 1
H4 5271     Long breakout 
H3 5250     Go Short 
H2 5243
H1 5236
L1 5223
L2 5216
L3 5209     Long 
L4 5188     Short Breakout 
L5  5171    Trgt 1 
L6  5154    Trgt 2

Bank Nifty(Feb Fut)-Trading Strategy for 11-02-2011

                                                                                                                        
H6 10338      Trgt 2 
H5 10283      Trgt 1
H4 10227      Long breakout 
H3 10160      Go Short 
H2 10138
H1 10116
L1 10071
L2 10049
L3 10027      Long 
L4 9960       Short Breakout 
L5 9904       Trgt 1 
L6 9849       Trgt 2

Trading Levels for 11-02-11

Nifty Spot Levels for 11-02-2011 

R3 5342

R2 5307
R1 5266
AVG 5231
S1 5190
S2 5155
S3 5114

Nifty Feb Futures Levels for 11-02-2011

R3 5348
R2 5316
R1 5273
AVG 5241
S1 5198
S2 5166
S3 5123

Bank Nifty Feb Futures Levels for 11-02-2011

R3 10477
R2 10375
R1 10234
AVG 10132
S1 9991
S2 9889
S3 9748

Mid-session outlook(10-02-2011)

Support and base formation seen at lowr levels within 5200-5220 today but it is only sufficient for very short term up move/minor pull back rally.

Firstly Nifty consolidated near 200-Day EMA but broken it down after little up moves and in the same manner again consolidated near 5460 and again broken it down after little up moves. Nifty could not sustain at higher levels after sudden surge and slipped sharply from higher level today also.

Confirm support between 5200-5220 today but follow up buying is must and minimum sustaining above immediate 1st resistance will give confirmation to any decisive up move.

Pre-Open Market Outlook(10-02-2011)

All trends are down and only very short term up move/minor pull back rally/intraday surge will be seen after very short term consolidations. Until sufficient buying will not develop till then any up move will not be considered. Minimum 1 resistance range crossing should be used for any upmove/rally confirmation.

Nifty was volatile and traded within 5225-5340 yesterday. Minor support seen within 5225-5240 and selling seen within 5300-5340. 5210 is strong support and Nifty moving below 5210 will mean sharp declines. As intraday supports and resistances within yesterday trading range(5225-5340) therefore Nifty will first trade near the lower band of yesterday range. As we are in bear market and yesterday higher levels selling therefore 5210 testing is possible today.

As 5210 have been strong support therefore will be watched today for:-

1- Minor pull back rally after sustaining above or
2- Sharp fall after sustaining below.

Nifty(Feb Fut)-Trading Strategy for 10-02-2011

H6 5380      Trgt 2 
H5 5353      Trgt 1
H4 5326      Long breakout 
H3 5293      Go Short 
H2 5282 
H1 5271 
L1 5249 
L2 5238 
L3 5227      Long 
L4 5194      Short Breakout 
L5 5166      Trgt 1 
L6 5139      Trgt 2

Bank Nifty(Feb Fut)-Trading Strategy for 10-02-2011

H6 10420      Trgt 2 
H5 10354      Trgt 1
H4 10288      Long breakout 
H3 10209      Go Short 
H2 10182
H1 10156
L1 10103
L2 10077
L3 10050      Long 
L4 9971       Short Breakout 
L5 9905       Trgt 1 
L6 9839       Trgt 2

Trading Levels for 10-02-11

Nifty Spot Levels for 10-02-2011

R3 5434
R2 5386
R1 5320
AVG 5272
S1 5206
S2 5158
S3 5092

Nifty Feb Futures Levels for 10-02-2011

R3 5449
R2 5398
R1 5329
AVG 5278
S1 5209
S2 5158
S3 5089

Bank Nifty Feb Futures Levels for 10-02-2011

R3 10579
R2 10452
R1 10291
AVG 10164
S1 10003
S2 9876
S3 9715

Mid-session outlook(09-02-2011)

Panic bottom formation and sharp recovery from oversold zones seen today morning. Pull back rally is due and it is its begining signal. It was told in Pre-Open Market Outlook today:-

"5335-5365 is first resistance range and its testing expected"

Nifty made today high at 5336.75 and sliped but mentioned resistance will watched for next up move in the form of pull back rally. Although move above 5365 expected but will be better to wait for confirmation from crossing 5265.

NIFTY-FEB F&O-1ST BTST OF 08-02-2011-COVERING

NIFTY FEB F & O(1ST BTST BOUGHT ON 08-02-2011)-COVER IMMEDIATELY-CMP-5290(WE MAY BUY AGAIN BUT FIRST COVER FOR SAFETY)

NIFTY-FEB F&O-1ST BTST OF 08-02-2011-MESSAGE

NIFTY FEB F & O(1ST BTST BOUGHT ON 08-02-2011)-MARKET MAY BE VOLATILE.HOLD AND JUST WAIT MY COVERING MESSAGE FOR COVERING

Pull Back Rally expected from Today

Pre-Open Market Outlook(09-02-2011)

All trends are down and Nifty entered into strong support range(5210-5349) after steep intraday fall yesterday. Although Indian markets closed in deep Red yesterday but intraday charts are not suggesting selling patterns and showing consolidation formations therefore pull back rally/bouncing back possibility is alive today.

5335-5365 is first resistance range and its testing expected after positive opening today. As oversold indicators showing positive divergence therefore Pull Back Rally begining expected from today after yesterday intraday charts consolidation formations.

Positive opening to Green closing expected today.

Bank Nifty(Feb Fut)-Trading Strategy for 09-02-2011

H6 10453    Trgt 2 
H5 10385    Trgt 1
H4 10316    Long breakout 
H3 10233    Go Short 
H2 10205
H1 10177
L1 10122
L2 10094
L3 10066    Long 
L4 9983     Short Breakout 
L5 9914     Trgt 1 
L6 9846     Trgt 2

Nifty(Feb Fut)-Trading Strategy for 09-02-2011

H6 5432     Trgt 2
H5 5405     Trgt 1

H4 5378     Long breakout
H3 5346     Go Short

H2 5335

H1 5324

L1 5303

L2 5292

L3 5281      Long

L4 5249     Short Breakout

L5 5222     Trgt 1

L6 5195     Trgt 2

Trading Levels for 09-02-11

Nifty Spot Levels for 09-02-2011

R3 5524
R2 5478
R1 5395
AVG 5349
S1 5266
S2 5220
S3 5137

Nifty Feb Futures Levels for 09-02-2011

R3 5507
R2 5464
R1 5389
AVG 5346
S1 5271
S2 5228
S3 5153

Bank Nifty Feb Futures Levels for 09-02-2011

R3 10647
R2 10538
R1 10344
AVG 10235
S1 10041
S2 9932
S3 9738

NIFTY-FEB F&O-1ST BTST OF 08-02-2011-TRADE

NIFTY(FEB FUT-BUY-BTST)SL-5274-TGT-5384-CMP-5306

NIFTY(FEB CALL OPTION-BUY-BTST)-S.P.FOR CALL-5300,5400,5500-NIFTY(FEB FUT)-RATES ARE FOR SL-5274-TGT-5384 FOR ALL OPTIONS-CMP-5306
(NO COVERING TODAY.COVERING WILL BE DONE TOMORROW)

Mid-session outlook(08-02-2011)

Indian markets have entered into bear phase therefore trading long positions should not hold.Let up move confirm then fresh buying should be done.

Pre-Open Market Outlook(08-02-2011)

All trends are down. Nifty closd below Wave-3 trend line for the last 2 sessions and today closing below it will be trend line breaking down confirmation as well as technically confirmation bear market.

Wave-3 EOD Chart:-

(Just click on chart for its enlarged view)

Yesterday candle is "Harami Bullish" and intraday charts are showing mixed despite sharp slipping from higher levels. As mixed patterns therefore yesterday trading range(5380-5437) break out will be watched first for next move confirmations and break out implications are as follows:-

Breking out(crossing 5437) will mean minor pull back rally possibility with following resistances:-

1- 5450-5470
2- 5510-5560

Breking down(crossing 5380) will be 100% bear market confirmation and testing of following supports:-

1- 1st Support- 5349
2- 1st Strong Support Range-5210-5349.

Although Indicatiors started to show positive divergences in oversold zone but let down move stop and base formation start then any up move possibility will be considered. As supports at lower levels are strong therefore fresh distribution patterns are required to break supports.

Global cues are quiet today morning therefore Nifty will first hover around 5400 and prepare for next moves. As "Harami Bullish" candle yesterday therefore fresh selling today is must for breaking down yesterday range and fresh consolidation is also required to cross yesterday high therefore it is clear that Nifty will first prepare for next moves within yesterday range(5380-5437) and its break out will give next moves confirmations.

Better to watch break out 5380-5437 and get next immediate move confirmations.

Nifty(Feb Fut)-Trading Strategy for 08-02-2011

H6 5468    Trgt 2
H5 5451    Trgt 1
H4 5434    Long breakout
H3 5414    Go Short
H2 5407
H1 5400
L1 5387
L2 5380
L3 5373     Long
L4 5353     Short Breakout
L5 5336     Trgt 1
L6 5319     Trgt 2


                                   

Trading Levels for 08-02-11

Nifty Spot Levels for 08-02-2011

R3 5494
R2 5467
R1 5431
AVG 5404
S1 5368
S2 5341
S3 5305

Nifty Feb Futures Levels for 08-02-2011

R3 5509
R2 5476
R1 5435
AVG 5402
S1 5361
S2 5328
S3 5287

Bank Nifty Feb Futures Levels for 08-02-2011

R3 10652
R2 10583
R1 10479
AVG 10410
S1 10306
S2 10237
S3 10133

NIFTY-FEB F&O-1ST BTST OF 04-02-2011-COVERING

NIFTY FEB F & O(BTST BOUGHT ON 04-02-2011)-COVER AND BOOK PROFIT IMMEDIATELY-CMP-5402

Weekly Analysis- 07-02-2011 to 11-02-2011

Nifty sustained below 200-Day EMA And Nifty traded whole last week near Wave-3 trend line(5460) but sharply slipped below it in last one hour last Friday as well closed more than 1% down below it. These are technically Bear markets confirmation levels and moves.

Next support are as follows:-

1st Support- 5349
1st Strong Support Range-5210-5349.

It is clear that moving below 5210 will mean steep fall to test levels below 5000 but Nifty will not easily break 5210 because 5210-5349 is strong support range and complete selling requires to break it down.

Oscillators are oversold and also showing positive divergence therefore Minor pull back rally possibility can not be ruled out but long term trend is confirm down and until Nifty will not sustain above 200-Day EMA(5640) till then will not be up.

Weekly top and bottom formed in volatile last Friday(5369-5556) and its break out will be watched first in the coming sessions then final views for remaining whole week will be formed after confirmations.