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Indian Stock Markets Closing Reports(12-05-2011)

Main features of today trading are as follows:-

1- Weaker glbal cues led weak markets.
2- All the main Indices closed 1% down
3- Long Black Candle
4- Nifty closed below psychological level of 5500
5- Good IIP days but  market slipped after its announcement.

Ratios:

Nifty Put Call Ratio: 0.85
Nifty P/E Ratio(12-05-2011): 20.40

Advances & Declines:

BSE ADVANCES :  909
BSE DECLINES : 1893
NSE ADVANCES :  394
NSE DECLINES : 1016

Nifty Open Interest Changed Today:-

Nifty- 5400 CE(26-05-2011)- +160750(+9.71%)
Nifty- 5400 PE(26-05-2011)- +889750(+13.63%)

Nifty- 5500 CE(26-05-2011)- +1932550(+48.46%)
Nifty- 5500 PE(26-05-2011)- +83450(+1.40%)

Nifty- 5600 CE(26-05-20111)- 1033950(+16.24%)
Nifty- 5600 PE(26-05-2011)- -509250(-12.75%)

Closing :-

Nifty- closed at 5,486.15(-78.90 Points & -1.42%)
Sensex- closed at 18,335.79(-249.17 Points & -1.34% )
CNX MIDCAP - closed at 7,941.05(-76.35 Points & -0.95%)
BSE SMALL CAP- closed at 8,335.43(-89.48 Points & -1.06%)

Nifty Spot-Levels & Trading Strategy for 13-05-2011

Nifty Spot-Levels

R3 5642
R2 5607
R1 5546
Avg 5511
S1 5450
S2 5415
S3 5354

Nifty Spot-Trading Strategy

H6 5582     Trgt 2
H5 5560    Trgt 1
H4 5538     Long breakout
H3 5512     Go Short
H2 5503
H1 5494
L1 5477
L2 5468
L3 5459     Long
L4 5433     Short Breakout
L5 5411     Trgt 1
L6 5389     Trgt 2

Pre-Open Market Outlook(12-05-2011)

Yesterday begun US tsunami reached Asia today morning and all the Asian markets are 1/2% to 1% down today morning. Indian markets are already weak and range bound between 5450-5590 and also got support at lower levels between this range. As all the global markets are weak therefore firstly Indian markets reaction to global weakness has to be understood. Immediate supports within mentioned range are as follows:-

1- 5525
2- 5505
3- 5487
4- 5460

Move below 5500 will mean nullifying of 2 supports and in that situation more weakness will be possible. Indian markets first half hour trading will tell Indian markets reaction to global weakness. Although sentiment is most depressed today morning but rally expected within couple of sessions.

Nifty sustaining beyond 5525 will be watched first for next moves first indication.

Market Outlook(12-05-2011)

Correction started after good selling above 5850 and after all trends turned down after Nifty slipping below 200 Day EMA. As good selling at higher levels therefore complete consolidation is the requirement for any short term/pull back rally.

Nifty traded between 5450-5590 in last 6 sessions with multiple resistances at higher levels and multiple supports at lower levels. Intraday charts of today are suggesting good consolidations and this process is seen near higher band of last 6 days range. Intraday charts of most of the Indices and many stocks are showing consolidation patterns today. Ranges positions are as follows:-

1- Last 6 days range- 5450-5590
2- Today condolidations- 5525-5550
3- Next resistance(requiring consolidations for any up moves)- 5550-5590

As per my view fresh consolidation expected between 5550-5590 tomorrow and moves above 5590 will be seen in the coming sessions. US markets are in deep Red and Dow Jones is more than 170 points down at this moment therefore weak opening is possible tomorrow and market will be decided through sustaining below any support level. As consolidation seen between 5525-5550 today and if global markets crashes and Nifty sustains below 5525 then any down moves will be considered. As good condolidations betweeen 5525-5550 today therefore if Nifty moves above 5550 then it will be short term/pull back rally confirmations.

Today US markets closing and then Asian markets reponse and after that Indian markets first half hour trading will tell Indian markets response to global storm. Although sentiment may be most depressed tomorrow morning but rally expected within couple of sessions.

FII Trading Data in Derivatives Segment on 11-May-2011

Technical Analysis and Research For 12-05-2011

Nifty-Micro Analysis of today Intra Day Chart(11-05-2011)

Just click on chart for its enlarged view

Main features are as follows:-

1- Whole day intraday consolidation between 5525-5550
2- Slipped from higher levels in last 15 minutes but patterns are not selling.

Conclusions

Fresh consolidation expected betwen 5550-5590 tomorrow and moves above 5590 will be seen in the coming sessions.
-------------------------------------------------------------
Detailed Technical Analysis have already been posted in following topics in last 5 days and no change in positions today therefore not being repeated. As last 5 days postd analysis will have impact on tomorrow trading also therefore useful links are as follows;-

1- Weekly Outlook(09-05-2011 to 13-05-2011)

2- Indian Stock Markets Report(09-05-2011)

3- Technical Analysis and Research For 10-05-2011

Indian Stock Markets Closing Reports(11-05-2011)

Add caption

Main features of today trading are as follows:-

1- Range bound trading within last 5 sessions most trading range(5500-5570)
2- All the Indices closed in Green
3- Whole day consolidation formations



Ratios:

Nifty Put Call Ratio: 0.84
Nifty P/E Ratio(10-05-2011): 20.61

Advances & Declines: 

BSE ADVANCES : 1616
BSE DECLINES : 1198
NSE ADVANCES :  817
NSE DECLINES :  556

Nifty Open Interest Changed Today:-


Nifty- 5500 CE(28APR2011)- +74200(+1.87%)
Nifty- 5500 PE(28APR2011)- +693750(+12.83%)

Nifty- 5600 CE(28APR2011)- +409850(+6.77%)
Nifty- 5600 PE(28APR2011)- +182450(+4.47%)

Closing :-

Nifty- closed at 5,565.05(+23.80 Points & +0.43%)
Sensex- closed at 18,584.96(+72.19 Points & +0.39% )
CNX MIDCAP - closed at 8,017.40(+59.20 Points & +0.74%)
BSE SMALL CAP- closed at 8,424.91(+60.95 Points & +0.73%)

FII & DII trading activity in Capital Market Segment on 11-May-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 11-May-2011 2362.44 2237.37 125.07

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 11-May-2011 827.85 738.73 89.12

Nifty Spot-Levels & Trading Strategy for 12-05-2011

Nifty Spot-Levels

R3 5633
R2 5603
R1 5584
Avg 5554
S1 5535
S2 5505
S3 5486

Nifty Spot-Trading Strategy

H6 5614     Trgt 2
H5 5603     Trgt 1
H4 5591      Long breakout
H3 5578      Go Short
H2 5573
H1 5569
L1 5560
L2 5556
L3 5551     Long
L4 5538     Short Breakout
L5 5526     Trgt 1
L6 5515     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 12-05-2011

Nifty(May Fut)-Levels

R3 5640
R2 5608
R1 5586
Avg 5554
S1 5532
S2 5500
S3 5478

Nifty(May Fut)-Trading Strategy

H6 5618     Trgt 2
H5 5606     Trgt 1
H4 5593     Long breakout
H3 5578     Go Short
H2 5573
H1 5568
L1 5559
L2 5554
L3 5549     Long
L4 5534     Short Breakout
L5 5521     Trgt 1
L6 5509     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 12-05-2011

Bank Nifty(May Fut)-Levels

R3 11308
R2 11199
R1 11119
Avg 11010
S1 10930
S2 10821
S3 10741

Bank Nifty(May Fut)-Trading Strategy

H6 11230     Trgt 2
H5 11186     Trgt 1
H4 11142     Long breakout
H3 11090     Go Short
H2 11073
H1 11056
L1 11021
L2 11004
L3 10987     Long
L4 10935     Short Breakout
L5 10891     Trgt 1
L6 10847     Trgt 2

Pre-closing Outlook(11-05-2011)

Intraday consolidation between 5525-5550 today and expected that nifty will consolidate betwen 5550-5590 tomorrow and moves above 5590 will be seen in the coming sessions.

NIFTY-MAY F&O-1ST BUYING OF 11-05-2011-TRADE

NIFTY(MAY FUT-BUY-POSITIONAL)SL-5524-TGT-5634-CMP-5560

NIFTY(MAY CALL OPTION-BUY-POSITIONAL)SL-5524-TGT-5634-S.P.FOR CALL-5500,5600(MAY FUT-RATES FOR ALL OPTIONS)-CMP-5560

Sandwich Nifty Today

Mid-session Outlook-2(11-05-2011)

Upper Slice- (5560-5590 yesterday Resistance)
Lower Slice- (5515-5532 yesterday Support)
Fried Tomato & Potato between- (5525-5565 Today Predicted Trading Range in Mid-Night today)
Fried Tomato & Potato between- (5525-5561.90 Today Trading Range at 12:15 PM today)

Only breakfast(intraday trading/Options selling) should be enjoyed from Sandwich Nifty and Wait for Lunch/Dinner(Positional trading/Options buying) because it is being cooked between in 5 Star Hotels(5450-5590).

Following lines were told for today markets

in  Market Outlook(11-05-2011)

Supports at lower levels and resistances at higher levels therefore market will not move any side and first trade between 5525-5565 tomorrow,much movements not expected and also closing expected within this range. Firstly market will prepare then next moves will be decided according to intraday charts formation in the coming sessions.

Minor support at lower levels and minor resistance also seen at higher levels today.Next moves confirmation levels are as follows;-

1- 5525-5565
2- 5500-5590
3- 5450-5590

Mid-session Outlook(11-05-2011)

Following lines were told in mid-night yesterday in Market Outlook(11-05-2011)

Supports at lower levels and resistances at higher levels therefore market will not move any side and first trade between 5525-5565 tomorrow.

"Trading range today at 11:05AM is:- 5525-5556.85"

As already told many times that Indian markets are range bound and preparing for next big moves and until this process will not complete till then Nifty will trade between 5450-5590 and this range break out will be next big moves confirmations.

Although Indian markets slipped from higher levels today but patterns are suggesting consolidations today. As per my view more preparation is required for any side break out because multiple resistances at higher levels and multiple supports at lower levels as well.

Let market prepare then break out and trending markets will be seen. 

Market Outlook(11-05-2011)

Detailed Technical Analysis have already been posted in following topics in last 4 days and no change in positions today therefore not being repeated. As last 4 days postd analysis will have impact on today trading also therefore useful links are as follows;-

1- Weekly Outlook(09-05-2011 to 13-05-2011)

2- Indian Stock Markets Report(09-05-2011)

3- Technical Analysis and Research For 10-05-2011

As intraday chart analysis is important for tomorrow and coming sessions trading therefore today Intraday chart and 5 days intraday charts analysis are as follows:-


Nifty-Micro Analysis of 5 days Intra Day Charts:-

Just click on chart for its enlarged view

Nifty-Micro Analysis of today Intra Day Chart(10-05-2011):-

Just click on chart for its enlarged view

Conclusions from today intraday charts analysis

Nifty traded most time between 5500-5560 in last 4 days and Nifty firstly traded between this range today,immediately broken out and crossed 5560. Nifty traded 4 hours between 5560-5590 but break out was lacking force therefore rally was doubtful and I told 2 times in 2 outlooks and clearly told for confirmation requirements through sustaining above 5592.

As suspected same happened and market slipped sharply after intraday selling betwen 5562-5590. Minor intraday support also seen between 5515-5532 today

Conclusions from 5 days intraday charts analysis

Main features are as follows:-

1- Trading range 5450-5590
2- Most time trading range 5500-5560
3- Multipal Resistances
4- Multipal Supports
5- Rising Channel Formations

Conclusions (After Putting analysis together)

Main features are as follows:-

1- All trends are down
2- 5th wave is still on.
3- Continuation pattern Pennant is still existing and it means rally hopes are alive.
4- Indicators are suggesting short term up moves possibility.
5- Good selling at higher levels therefore market requires complete consolidations

Range bound trading between 5450-5590 in last 5 days and Nifty traded most time between 5500-5560. Multipal Resistances and multipal supports in last 5 days. Supports at lower levels and resistances at higher levels therefore market will not move any side and first trade between 5525-5565 tomorrow,much movements not expected and also closing expected within this range. Firstly market will prepare then next moves will be decided according to intraday charts formation in the coming sessions. next moves confirmation levels are as follows;-

1- 5500-5560
2- 5450-5590

FII Trading Data in Derivatives Segment on 10-May-2011

Indian Stock Markets Closing Reports(10-05-2011)

Main features of today trading are as follows:-

1- Almost all the Indices closed flat.
2- Selling at higher levels.
3- Minor intraday lower levels support
4- Range bound character maintained with closing within last 4 days range.

Ratios:

Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(10-05-2011):20.61

Advances & Declines:

BSE ADVANCES : 1366
BSE DECLINES : 1438
NSE ADVANCES :  648
NSE DECLINES :  744

Nifty Open Interest Changed Today:-

Nifty- 5500 CE(28APR2011)- +627150(+18.75%)
Nifty- 5500 PE(28APR2011)- -299400(-5.20%)

Nifty- 5600 CE(28APR2011)- +1248300(+25.49%)
Nifty- 5600 PE(28APR2011)- +510750(+13.08%)

Closing :-

Nifty- closed at 5,541.25(+/-9.85 Points & -0.18%)
Sensex- closed at 18,512.77(-16.19 Points & -0.09% )
CNX MIDCAP - closed at 7,958.20(+4.45 Points & +0.06%)
BSE SMALL CAP- closed at 8,363.96(+21.16 Points & +0.25%)

FII & DII trading activity in Capital Market Segment on 10-May-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 10-May-2011 1451.06 1426.04 25.02

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 10-May-2011 768.09 637.23 130.86

Nifty Spot-Levels & Trading Strategy for 11-05-2011

Nifty Spot-Levels

R3 5662
R2 5627
R1 5584
Avg 5549
S1 5506
S2 5471
S3 5428

Nifty Spot-Trading Strategy

H6 5619     Trgt 2
H5 5601     Trgt 1
H4 5583     Long breakout
H3 5562     Go Short
H2 5555
H1 5548
L1 5533
L2 5526
L3 5519     Long
L4 5498     Short Breakout
L5 5480     Trgt 1
L6 5462     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 11-05-2011

Nifty(May Fut)-Levels

R3 5682
R2 5643
R1 5594
Avg 5555
S1 5506
S2 5467
S3 5418

Nifty(May Fut)-Trading Strategy

H6 5633     Trgt 2
H5 5613     Trgt 1
H4 5593     Long breakout
H3 5569     Go Short
H2 5561
H1 5553
L1 5536
L2 5528
L3 5520     Long
L4 5496     Short Breakout
L5 5476     Trgt 1
L6 5456     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 11-05-2011

Bank Nifty(May Fut)-Levels

R3 11274
R2 11196
R1 11108
Avg 11030
S1 10942
S2 10864
S3 10776

Bank Nifty(May Fut)-Trading Strategy

H6 11188    Trgt 2
H5 11150     Trgt 1
H4 11112     Long breakout
H3 11066    Go Short
H2 11051
H1 11036
L1 11005
L2 10990
L3 10975     Long
L4 10929     Short Breakout
L5 10891     Trgt 1
L6 10853     Trgt 2

Pre-closing Outlook(10-05-2011)

EGoM postponed tomorrow meeeting on Petroleum price hike

Although sharp down today and Nifty is trading near lower levels but intraday support developed at lower levels today also.

Next trading range will be between 5500-5590 and intraday charts of the coming 4/5 trading hours will give first indication of next moves beyond 5500-5590

Mid-session Outlook-3(10-05-2011)

I told for crossing 5570 and Nifty crossed also but when I saw that up moves are not convincing then at time when Nifty was trading near day's higher levels then I expressed my doubts on today up moves in following words in 2 outlooks:-

1- I told in Mid-session Outlook;- "up move is lacking required force therefore sustaining above today highest(5592) will be watched for next moves confirmations"

2- I told in Mid-session Outlook-2;- "5570 is crossed but without required force and negative news of petroleum rates hike news also today therefore Nifty crossing and sustaining above today high(5592) will be rally confirmations"

As up move wthout required force therefore selling confirmation and clear resistance(5565-5590) today and supports at lower levels near 5500 are not much strong. Follow up selling today or tomorrow and move below 5500 will mean sharp down.

Range bound market between 5500-5590 and follow up buying/selling in the coming 4/5 trading hours will decide surviving of support at 5500 or not.

Mid-session Outlook-2(10-05-2011)

Indian markets are sustaining near day's higher levels despite negative news of Petroleum rates hike news in Business news channels. 5570 is crossed but without required force and negative news of petroleum rates hike news also today therefore Nifty crossing and sustaining above today high(5592) will be rally confirmations.

Mid-session Outlook(10-05-2011)

5570 crossed and Nifty is trading near day's higher levels but up move is lacking required force therefore sustaining above today highest(5592) will be watched for next moves confirmations.

Post-open Outlook(10-05-2011)

Following conclusive line was clearly told in Tomorrow Outlook(10-05-2011) at 11:41 PM yesterday:-

expected that Nifty will finally move above 5570 in the coming couple of sessions

Following conclusive line was again clearly told in Pre-open Outlook(10-05-2011) at 08:51:00 AM today:-

expected that Nifty will finally move above 5570 and short term up moves will start in the coming couple of sessions.

Today high at this moment is 5592 and short term up move is on.

Pre-open Outlook(10-05-2011)

Asian markets are quiet therefore sentiment is calm today morning. Flat opening and firstly trading betwen 5500-5570 will be seen. Fresh consolidation expected between mentioned range and also expected that Nifty will finally move above 5570 and short term up moves will start in the coming couple of sessions.

For precaution and trend confirmation 5500-5570 break out should be watched.

Detailed analysis have been posted in following topics and not being repeated;-

1- Weekly Outlook(09-05-2011 to 13-05-2011)

2- Indian Stock Markets Report(09-05-2011)

3- Technical Analysis and Research For 10-05-2011

Tomorrow Outlook(10-05-2011)

Detailed analysis have been posted in following topics and not being repeated;-

1- Weekly Outlook(09-05-2011 to 13-05-2011)
2- Indian Stock Markets Report(09-05-2011)
3- Technical Analysis and Research For 10-05-2011

4 Days range bound trading(5500-5570) means preperation for big moves. Clear supports at lower levels today but higher levels mixed intraday patterns also between 5545-5570 therefore Nifty will trade near about this range first.

Fresh consolidation expected near about 5560 tomorrow and expected that Nifty will finally move above 5570 in the coming couple of sessions short term up moves will also commence in the coming couple of sessions.

For precaution and trend confirmation 5500-5570 break out should be watched first.

Technical Analysis and Research For 10-05-2011

Daily Indicators and Averages Analysis Chart

Just click on chart for its enlarged view

Conclusions from Daily Indicators and Averages Analysis

1-Averages- Nifty is below all the averages(8,21,55,200 Day EMA) and showing oversold market. Nifty is below 200 Day EMA for the last 4 sessions therefore indicating weakness.

2-Bollinger Band- Nifty is trading at Lower Band for the last 4 sessions and showing oversold markets therefore indicaing an upmove mininmun upto middle line of Band which is at 5681.

3-MACD- MACD Line is below Average Line and both lines are near equalibrium line. Gap between both lines increased. As clear divergence between both lines therefore an upmove is expected to converge both lines.

4-ROC & RSI- Started to move up from oversold zone therefore indicating small upmove possibility

5-Slow Stochastic & William %R- Both very short term indicators have started to move up from oversold zone and indicating very short term up move.

Conclusions (After Putting All indicators Together)

All the indicators are telling bounce back and minimum very short term upmoves possibility.

Nifty-Micro Analysis of Intra Day Chart(09-05-2011):-

Just click on chart for its enlarged view

Main Features

1- Intraday support between 5507-5530.
2- Mixed Patterns between 5545-5570

Conclusions

Nifty traded most of the time between 5500-5560 in last 4 sessions and Nifty traded between 5507-5570 today with lower levels buying and higher levels mixed patterns. Now 5500-5570 is next moves confirmation range.

Conclusions (After Putting Daily Indicators and Intraday charts analysis together)

Next trading range is 5500-5570 and indicators are suggesting bounce back and minimum very short term upmoves possibility. Confirm consolidation between 5507-5530 today but mixed patterns patterns between 5545-5570 also.

Last 4 sessions trading range is 5500-5570 and Indian markets require more preparation for next move decisive break out within this range. Break out and sustaining beyond mentioned range will give following confirmations:-

1- Move below 5500 will be first indication and sustaing below 5444 will be bear market confirmation and in that situation 5178 will be possible.


2- Move above 5570/5579 will be up trend indication and confirmation will be sustaining above 200 Day EMA(5628),it will mean range bound Indian markets between 5444-5944

FII Trading Data in Derivatives Segment on 09-May-2011

FII & DII trading activity in Capital Market Segment on 09-May-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 09-May-2011 1935.01 1738.59 196.42

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 09-May-2011 500.92 626.7 -125.78

Indian Stock Markets Report(09-05-2011)

Main features of today trading are as follows:-

1- Trading Range 5506-5570
2- Lower level intraday support and base formation between 5507-5530.
3- Flat closing in range bound market.
4- Market followed last 3 sessions range(5500-5560)and traded most time within that range.


Ratios:

Nifty Put Call Ratio: 0.79
Nifty P/E Ratio(06-05-2011): 20.67

Advances & Declines:

BSE ADVANCES : 1281
BSE DECLINES : 1520
NSE ADVANCES :  578
NSE DECLINES :  824

Nifty Open Interest Changed Today:-

Nifty- 5500 CE(28APR2011)- -366000(-9.63%)
Nifty- 5500 PE(28APR2011)- +1310450(+26.97%)

Nifty- 5600 CE(28APR2011)- -96600(-1.86%)
Nifty- 5600 PE(28APR2011)- +367750(+/-00.00%)


Closing :-

Nifty- closed at 5,551.10(-0.35 Points & -0.01%)
Sensex- closed at 18,528.96(+10.15 Points & +0.05% )
CNX MIDCAP - closed at 7,953.75(-11.65 Points & -0.15%)
BSE SMALL CAP- closed at 8,342.80(+0.22 Points & +9.70%)

Nifty Spot-Levels & Trading Strategy for 10-05-2011

Nifty Spot-Levels

R3 5674
R2 5630
R1 5590
Avg 5546
S1 5506
S2 5462
S3 5422

Nifty Spot-Trading Strategy

H6 5635     Trgt 2
H5 5616     Trgt 1
H4 5597     Long breakout
H3 5574     Go Short
H2 5566
H1 5558
L1 5543
L2 5535
L3 5527     Long
L4 5504    Short Breakout
L5 5485     Trgt 1
L6 5466     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 10-05-2011

Nifty(May Fut)-Levels

R3 5677
R2 5630
R1 5594
Avg 5547
S1 5511
S2 5464
S3 5428

Nifty(May Fut)-Trading Strategy

H6 5641     Trgt 2
H5 5622     Trgt 1
H4 5603     Long breakout
H3 5580     Go Short
H2 5573
H1 5565
L1 5550
L2 5542
L3 5535     Long
L4 5512     Short Breakout
L5 5493     Trgt 1
L6 5474     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 10-05-2011

Bank Nifty(May Fut)-Levels

R3 11522
R2 11381
R1 11232
Avg 11091
S1 10942
S2 10801
S3 10652

Bank Nifty(May Fut)-Trading Strategy

H6 11376     Trgt 2
H5 11309     Trgt 1
H4 11242     Long breakout
H3 11162     Go Short
H2 11136
H1 11109
L1 11056
L2 11029
L3 11003     Long
L4 10923     Short Breakout
L5 10856     Trgt 1
L6 10789     Trgt 2

Pre-closing Outlook(09-05-2011)

Nifty traded most of the time between 5500-5560 and intraday support seen st lower levels between 5507-5530. Last 2 hours trading between 5550-5570 and trading patterns are mixed. Nifty below 5550 will mean 5500-5550 and sustaining above 5570 will be first indication of rally.

Nifty slipped from day's higher levels and trading below 5550 but it is not selling confirmation beyween 5550-5570,as patterns between this range are mixed therefore it will be better to wait for confirmation from sustaining beyond in the coming sessions..

I told for trading between 5500-5560 in all the outlooks for today market  and Nifty traded between this range most of the time and also closing within this range today

Intraday support and base formations signals today and sustaining beyond 5550-5570 will be next moves first indications.

Mid-session Outlook-2(09-05-2011)

Sharp declines immediately after opening today but bearish views were not never  posted and on the contrary cleatly told that  view is not Bearish and also told that intraday patterns are suggesting consolidations

My trading hours statements are as followd:-

Following line was told at 10:02:00 AM today:-

trading in Red since opening today but view is not Bearish.

Following line was told at 10:41:00 AM today:-

Steep fall today low is at 5502. View will be bearish below 5500

Following line was told at 12:50:00 PM today:-

Nifty is trading in Red for the last 3 hours but intraday patterns are suggesting consolidations

Sharp recovery and Nifty is more that quarter pct up at this moment and Nifty is above 5560 and if sustains then upside break out confirmations.

Mid-session Outlook(09-05-2011)

Following lines were told in Weekly and same views were expressed in all the outlooks written for today and this week trading;-

"It is very much clear from Nifty-Micro Analysis of 3 Days Intra Day Charts(04-05-2011 to 06-05-2011) that 3 sessions most time trading range is 5500-5560 and intraday patterns within this range are mixed, Nifty will first trade in next week within or little above/below mentioned range and prepare for next moves"

When Nifty was trading near today lows then also following lines were told:-

"Steep fall today low is at 5502. View will be bearish below 5500"

Nifty is trading in Red for the last 3 hours but intraday patterns are suggesting consolidations. Confirmation levels(5500-5560) should be watched for next moves condiemations.

Post-open Outlook-2(09-05-2011)

Indian markets are slipping sharply from higher levels immediately and trading in Red since opening today but view is not Bearish and will be bearish after confirmations and sustaining below 5500. Steep fall today low is at 5502. View will be bearish below 5500 and in that situation next target will be 5178.

Post-open Outlook(09-05-2011)

Indian markets underperformed global markets after positive closing today. Following lines were told in all the outlooks for today trading:-

"3 sessions most time trading range is 5500-5560 and intraday patterns within this range are mixed, Nifty will first trade in next week within or little above/below mentioned range and prepare for next moves"

As told above again and again and same is being seen immediately after opening today and Nifty is trading between 5500-5560. Let market prepare for next moves and confirmarion will be break out and sustaining beyond 5500-5560. Conclusions from Micro Analysis of today Intra Day Charts will be posted after next moves confirmations.

Although Indian markets slipped from higher levels immediately after opening and trading in Red since opening today but view is not Bearish.

Pre-Open Market Outlook(09-05-2011

Technicals and conclusions for coming week markets have already been explained in details in following 4 topics therefore not being repeated:-

1- Weekly Outlook(09-05-2011 to 13-05-2011)
2- Nifty-Micro Analysis of Intra Day Charts
3- Weekly Chart Analysis
4- Trend Decider Pennant Pattern

As last 3 sessions narrow range market(5500-5560) therefore its break out and sustaining beyond will certainly be crucial development and 5%  decisive moves will be expected in the direction of break out side.

Global markets and US Futures are in Green and sentiment is  positive today morning therefore expected that Nifty will first trade between 5560-5600. Nifty sustaining above 5560 today will be up side break out strong indication and rally confirmation will be sustaining above 200 Day EMA.

Positive closing expected today after Green opening and most of the time positive zone trading.

Weekly Outlook(09-05-2011 to 13-05-2011)

Technicals of Indian markets have already been posted in following 3 topics therefore just click following topics and understand Indian markets:-

1- Nifty-Micro Analysis of Intra Day Charts
2- Weekly Chart Analysis
3- Trend Decider Pennant Pattern

Conclusions (After Putting All Studies Together)

All Bullish barriers have been broken down in last 7 sessions sharp down moves. All trends are down and 200 Day EMA has been broken down as well. 5th impulsive wave is on within continuation Pennant Pattern formations. Nifty is hovering around at lower levels existing Rising trend line of Pennant for the last 3 sessions with low at 5444 and high at 5579. Until complete consolidation will not happen till then market will not reverse. Firstly complete consolidations and after that sustaining above minimum one resistance is must for an up move confirmations. Nifty traded most of the time with mixed trading patterns between 5500-5560 in last 3 sessions,break out and sustaining beyond this range will give following confirmations:-

1- Nove below 5500 will be first indication and sustaing below 5444 will be bear market confirmation and in that situation 5178 will be possible.


2- Move above 5560/5579 will be up trend indication and confirmation will be sustaining above 200 Day EMA(5629),it will mean range bound Indian markets between 5444-5944

It is very much clear from Nifty-Micro Analysis of 3 Days Intra Day Charts(04-05-2011 to 06-05-2011) that 3 sessions most time trading range is 5500-5560 and intraday patterns within this range are mixed, Nifty will first trade in next week within or little above/below mentioned range and prepare for next moves. Break out implications of mentioned range have already been discussed above.

Finally break out,sustaining above 5560 and Green weekly closing expected in the coming week but precautionally sustaining beyond 5500-5560 will be watched for safety.

Trend Decider Pennant Pattern

Pennant Chart

Just click on chart for its enlarged view

Pennant is continuation Pattern. It means that on going trend will remain continued after its break out. 5th impulsive wave is on therefore its upward break out should be expected but all trends are down and Indian markets have moved below 200 Day EMA. Nifty is hovering around at lower levels existing Rising trend line of Pennant for the last 3 sessions with low at 5444 and high at 5579.

Conclusions

Sustaing below 5444 will be bear market confirmation and in that situation 5178 will be possible. Move above 5579 will be up trend indication and confirmation will be sustaining above 200 Day EMA,it will mean range bound Indian markets between 5444-5944

Weekly Chart Analysis

Waves structure and Positive MACD chart

Just click on chart for its enlarged view

Waves structure

Waves structure is showing that 5th impulsive wave is on after 4th wave correction completion.

Weekly MACD

Both lines of MACD are near equalibrium line. MACD line is merginally above Average line and equalibrium line.

Weekly Chart from 03-09-2010 to 06-05-2011

Just click on chart for its enlarged view

Main Features

1- 5 corrective Waves of Wave-4 has been completed
2- Corrective 4th wave begun on 05-11-2010 from 6338
3- Corrective 4th wave finished on 11-02-2011 at 5178
4- Continuation Pattern Pennant broken down but weekly closing within Pattern

Conclusions

Wave-4 completed its correction in 5 sub-waves and Wave-5 is on. All trends are down and only hope for survival of Bull market is Continuation Pattern Pennant formations. Nifty moved below 5th wave in previous week but closed above it. Wave 5 is Rising trend line of Pennant and Nifty sustaining above it will mean survival of Pennant and with this hope of up trend as well.

As Weekly closing is above Wave-5(Rising trens line of Pennant) therefore Bull market hopes are still existing and sustaining beyond as well as next weekly closing above/below mentioned line will be next moves confirmations.