Rally above 5400 in next week

Technical Analysis,Research and Weekly Outlook For Nov 08 to Nov 11,2011

Nifty-Weekly Chart(04-Nov-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in Weekly charts

1- Wave-3 completed and Wave-4 begun on 05-11-2010 from 6338.
2- Last one year corrective Wave-4 in Falling Channel.
3- Wave-4 completed and Wave-5 started on 26-08-2011 from 4720
4- Wave-5 is in Progress.

Nifty-EOD Chart(04-Nov-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Falling Trendline
2- Market retraced 4 times earlier sfter getting resistance from this Trend line.
3- Break out of 54 Sessions range bound market
4- 16 Days Rally and tested Falling Trendline
5- Fresh up moves are on after 3 Days correction

Conclusions

Correction in falling channel and after that 54 sessions range bound market between 4720-5229 was seen after 94 Points gap down on 05-08-2011. Break out of this range bound market was seen in 16 sessions previous month rally but immediately after that 3 days correction of this rally was seen.

Next Supports of this rally are as follows:-

1- 5257-5277
2- 5203-5224

Next Resistances of this rally are as follows:-

1- 5310-5324
2- 5318-5365

Most uncertain news flow from Euro zone and highly volatile markets. Rally started on 07-10-2011 and after 16 days its correction was seen in previous week. As up moves were seen in previous two sessions after getting supports at above mentioned therefore strong indications of Correction completion and high possibility of rally in the coming week.

Nifty got 4 times resistance at falling trend line and also again faced resistance here in previuos week but it was due to confusing news from Greece. Strong indications of correction completion and if any big adverse news does not comes up from Europe then firstly consolidation at higher levels and after that continuation of rally above 5400 will be seen in the coming week/weeks.

FII Trading Data in Derivatives Segment on 04-Nov-2011

Indian Stock Markets Closing Reports(04-Nov-2011)

Main features of today trading are as follows

1- All the Indices closed in Green ecxept Oil & gAS.
2- Black Candle.
3- Slipped from higher levels but support at lower levels also.

Ratios

Nifty Put Call Ratio: 0.95
Nifty P/E Ratio(04-Nov-2011): 19.21

Advances & Declines

BSE ADVANCES : 1572
BSE DECLINES : 1271
NSE ADVANCES :  856
NSE DECLINES :  578

Nifty Open Interest Changed Today

Nifty- 5200 CE(Nov)- -44150(-1.70%)
Nifty- 5200 PE(Nov)- +692050(+14.64%)

Nifty- 5300 CE(Nov)- -176950(-3.94%)
Nifty- 5300 PE(Nov)- +386150(+13.23%)

Nifty- 5400 CE(Nov)- +664900(+11.77%)
Nifty- 5400 PE(Nov)- +208600(+19.55%)

Closing 

Nifty- closed at 5,284.20(+18.45 Points & +0.35%)
Sensex- closed at 17,562.61(+80.68 Points & +0.46% )
CNX MIDCAP - closed at 7,320.00(+70.85 Points & +0.98%)
BSE SMALL CAP- closed at 6,958.13(+26.15 Points & +0.38%)

FII & DII trading activity in Capital Market Segment on 04-Nov-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 04-Nov-2011 2256.56 2127.94 128.62

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 04-Nov-2011 938.47 867.98 70.49

Nifty Spot-Levels & Trading Strategy for 08-11-2011

Nifty Spot-Levels

R3 5391
R2 5358
R1 5321
Avg 5288
S1 5251
S2 5218
S3 5181

Nifty Spot-Trading Strategy

H6 5354     Trgt 2
H5 5338     Trgt 1
H4 5322     Long breakout
H3 5303     Go Short
H2 5296
H1 5290
L1 5277
L2 5271
L3 5264     Long
L4 5245    Short Breakout
L5 5229     Trgt 1
L6 5213     Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 08-11-2011

Nifty(Nov Fut)-Levels

R3 5421
R2 5387
R1 5351
Avg 5317
S1 5281
S2 5247
S3 5211

Nifty(Nov Fut)-Trading Strategy

H6 5386     Trgt 2
H5 5370     Trgt 1
H4 5354     Long breakout
H3 5335     Go Short
H2 5328
H1 5322
L1 5309
L2 5303
L3 5296     Long
L4 5277    Short Breakout
L5 5261     Trgt 1
L6 5245     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 08-11-2011

Bank Nifty(Nov Fut)-Levels

R3 10046
R2 9998
R1 9939
Avg 9891
S1 9832
S2 9784
S3 9725

Bank Nifty(Nov Fut)-Trading Strategy

H6 9988     Trgt 2
H5 9964     Trgt 1
H4 9939     Long breakout
H3 9910     Go Short
H2 9900
H1 9890
L1 9871
L2 9861
L3 9851     Long
L4 9822     Short Breakout
L5 9797     Trgt 1
L6 9773     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Nov 08 to Nov 11,2011)

Nifty Spot-Weekly Levels

R3 5353
R2 5306
R1 5295
Avg 5248
S1 5237
S2 5190
S3 5179

Nifty Spot-Weekly Trading Strategy 

H6 5342     Trgt 2
H5 5329     Trgt 1
H4 5315     Long breakout
H3 5299     Go Short
H2 5294
H1 5289
L1 5278
L2 5273
L3 5268     Long
L4 5252     Short Breakout
L5 5238     Trgt 1
L6 5225     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(Nov 08 to Nov 11,2011)

Bank Nifty Spot-Weekly Levels

R3 10492
R2 10286
R1 10061
Avg 9855
S1 9630
S2 9424
S3 9199

Bank Nifty Spot-Weekly Trading Strategy 

H6 10275     Trgt 2
H5 10174     Trgt 1
H4 10073     Long breakout
H3  9954     Go Short
H2  9915
H1  9875
L1  9796
L2  9756
L3  9717    Long
L4  9598    Short Breakout
L5  9497    Trgt 1
L6  9396    Trgt 2

Pre-Closing Outlook(04-11-2011)

Following line was told in Uncertain Europe &  Next Trend Decider is 5203-5297

Expected that Nifty will firstly trade between 5254-5311 and next trend confirmation will be sustaining beyond 5203-5297 tomorrow or in the coming sessions

Blasting global cues today morning and Nifty traded between 5257-5326 after gap up opening today. As doubts therefore condition of sustaining above 5300 was clearly told in Post-open Outlook today.

Selling at higher levels and Buying at lower levels as well as closing between mentioned resistance range(5377-5297) will be seen today. Next Indian and Global trend will be decided according to settlement of Greece problem. Technical positions and detailed analysis has already been posted in following topic:-

Uncertain Europe &  Next Trend Decider is 5203-5297

Indian markets are prepared for any side decisive move and waiting for clear direction from Europe.

Although resistances at higher levels but expected that Indian markets will finally move above 5365 and strong rally will be seen in the next weeks.

Post-open Outlook(04-11-2011)

Most of the Asian markets are trading with good gains after strong closing in US markets therefore sentiment is blasting and Nifty is trading above 5300 after gap up opening today. Most of the Global markets and Indian markets are trading near 200-Day EMA after previous week correction and clearity from Europe will mean strong rally all around above  200-Day EMA and long term trend turning up.

Last resistance of ongoing rally is between 5318-5365 and Nifty is trading at lower levels of this resistance. Strong Global cues led trading above 5300 but clear signals are required from Greece for crossing 5365. Today intraday consolidation and sustaining above 5300 will be strong indication of rally above 5365.

Just watch sustaining above 5300 today and sustaining above it will be confirmation of previous resistance(5377-5297) clearance as well as strong indication of next up moves beginning to cross 5365.

Uncertain Europe & Next Trend Decider is 5203-5297

Nifty-Intra Day Chart(03-Nov-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intra day charts

1- Support between 5203-5224
2- Mixed Patterns between 5236-5272
3- Whole day trading between 5203-5280

Conclusions from Intra day Charts

As soon as Indian markets started to out perform global markets then it was told within first 15 minutes and when Indian markets were near the lower levels and started to consolidate then also it was updated within first 2 hours today today.

Indian markets got intraday support at lower levels within 5203-5224 and after that strong up move was seen on the back of jumping Dow's Futures(more than 200 points recovery) and rising European markets.

Dow's Futures was more than 170 points down today morning and Dow traded 195 points up today. It is clear that highly volatile global markets and most uncertain newsflow from Europe as well as such confusions are continued for the  last 3 months. Once clear picture from European markets will mean continuation of strong rally in Indian markets as it was seen through 54 sessions break out on 28-10-2011.

Nifty-EOD Chart(03-Nov-2011):-

Just click on chart for its enlarged view

Conclusions

Rally started in previous month and after 16 days up moves correction is on for the last 4 sessions. First signal of correction completion emerged after support at lower level between 5203-5224 today but correction completion confirmation is must through:-

1- Firstly crossing of today mixed patterns trading range(5236-5272)
2- Secondly sustaining above minimum next first resistance(5377-5297).

Expected that Nifty will firstly trade between 5254-5311 and next trend confirmation will be sustaining beyond 5203-5297 tomorrow or in the coming sessions and:-

1- Below 5203 will mean failure of today support and entering of uncertain 54 previous sessions range bound market.
2- Sustaining above 5297 will be confirmation of ongoing correction completion and in that situation fresh phase of rally will be expected after crossing of last resistance of ongoing rally(5318-5365).

FII & DII trading activity in Capital Market Segment on 03-Nov-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 03-Nov-2011 1884.03 1868.58 15.45

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 03-Nov-2011 973.06 971.15 1.91

Indian Stock Markets Closing Reports(03-Nov-2011)

Main features of today trading are as follows

1- Good recovery from lower levels and almost flat closing near day's highest levels.
2- White Candle.
3- Global cues led strong rally after support at lower levels.

Ratios

Nifty Put Call Ratio: 0.90
Nifty P/E Ratio(03-Nov-2011): 19.06

Advances & Declines

BSE ADVANCES : 1332
BSE DECLINES : 1475
NSE ADVANCES :  665
NSE DECLINES :  736

Nifty Open Interest Changed Today

Nifty- 5200 CE(Nov)- +69400(+2.75%)
Nifty- 5200 PE(Nov)- +426600(+9.26%)

Nifty- 5300 CE(Nov)- +132600(+2.99%)
Nifty- 5300 PE(Nov)- -253400(-7.97%)

Closing 

Nifty- closed at 5,265.75(+7.30 Points & +0.14%)
Sensex- closed at 17,481.93(+17.08 Points & +0.10% )
CNX MIDCAP - closed at 7,249.15(+28.15 Points & +0.39%)
BSE SMALL CAP- closed at 6,931.98 (-0.25 Points & 0.00%)

Nifty Spot-Levels & Trading Strategy for 03-11-2011

Nifty Spot-Levels

R3 5400
R2 5350
R1 5304
Avg 5254
S1 5208
S2 5158
S3 5112

Nifty Spot-Trading Strategy

H6 5355     Trgt 2
H5 5332    Trgt 1
H4 5310     Long breakout
H3 5284     Go Short
H2 5275
H1 5266
L1 5249
L2 5240
L3 5231    Long
L4 5205     Short Breakout
L5 5183     Trgt 1
L6 5161    Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 03-11-2011

Nifty(Nov Fut)-Levels

R3 5419
R2 5376
R1 5328
Avg 5285
S1 5237
S2 5194
S3 5146

Nifty(Nov Fut)-Trading Strategy

H6 5371     Trgt 2
H5 5350     Trgt 1
H4 5330     Long breakout
H3 5305     Go Short
H2 5296
H1 5288
L1 5271
L2 5263
L3 5254     Long
L4 5229     Short Breakout
L5 5209     Trgt 1
L6 5188     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 03-11-2011

Bank Nifty(Nov Fut)-Levels

R3 10126
R2 10032
R1 9928
Avg 9834
S1 9730
S2 9636
S3 9532

Bank Nifty(Nov Fut)-Trading Strategy

H6 10023     Trgt 2
H5  9978     Trgt 1
H4  9932    Long breakout
H3  9878    Go Short
H2  9860
H1  9842
L1  9805
L2  9787
L3  9769    Long
L4  9715    Short Breakout
L5  9669    Trgt 1
L6  9624    Trgt 2

Pre-Closing Outlook(03-11-2011)

Initial consolidation indications and after that intra day support between 5203-5224. As Dow's Futures surged more than 90 points from intra day lower levels therefore all the European and Indian markets also moved up sharply after  01:30pm. Positive closing above 5254 will be seen but today last 2 hours up moves are US Futures backed therefore sustaining above 5452 and minimum crossing of next resistance is must for confirmation of correction completion and it will be watched first of all tomorrow.

Mid-session Outlook-2(03-11-2011)

Following 3 technical positions have been posted in both previous outlooks:-

1- Indian markets are out performing global markets and 
2- minor indications of consolidations
3- sustaining beyond 5229-5254 for next moves confirmations.

Nifty slipped below 5229 after increased inflation data and traded more than 2 hours between 5203-5224 but could not sustain below 5229,moved up and again trading between 5229-5254.

Minor indications of consolidations were seen and it was updated also in Mid-session Outlook today. Indian markets ignored increased inflation data,out performing global markets but last half hour fast up moves are on the back of sharp 90 points surge in US futures therefore rally confirmations through sustaining above 5254 is must. 

Just watch sustaining beyond 5229-5254 for next moves confirmations.

Mid-session Outlook(03-11-2011)

Nifty traded most time between 5229-5254 today and importance these levels are as follows:-

1- 5229 is previous 54 range highest and sustaining below it will mean moving into range bound market within 4720-5229 and then more down moves will be expected.
2- 5254 is today pivot point and sustaining above it will mean possibility of on going correction completion.

Selling at higher levels in last 4 sessions and markets are down also but minor indications of consolidations today therefore Just watch sustaining beyond 5229-5254 for above mentioned next moves confirmations.

Post-open Outlook(03-11-2011)

Indian markets are in Red but out performing global markets today morning therefore firstly sustaining beyond 5254 will be watched for next moves confirmations.

Pre-open Outlook(03-11-2011)

Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topic with 1 Chart therefore not being repeated:-

Nifty-Micro Analysis of Intra Day Chart For 03-11-2011

Nifty traded 3 hours between 5377-5297 with intraday selling patterns and more down moves have already been updated in both previous outlooks yesterday. Although US markets closed with 1.5% gains but its Futures are more than 1% down today and all the Asian markets are also sharply down today therefore sentiment is weak and and negative zone trading will be seen after weak opening today. Correction is on and just click following link for Nifty next supports and retracement levels:-

Technical Analysis,Researches & Market Outlook(02-11-2011)

Sustaining below 5229 will mean reentering into previous 54 sessions range bound markets and failure of European news generated above 5323 rally also.

Most uncertain European newsflow,Global markets and US markets Futures which trades in reverse direction of its previous day. As highly volatile markets without any base therefore most cautious approach is required. Lot of things will depend on Greece referendum tomorrow and results of G-20 meet as well as continuation or completion of Indian markets correction will also be decided according to its results.

Expected that Nifty will firstly trade and prepare for next moves between 5195-5235 after weak opening today. More weakness expected and sustaining beyond this range will be next moves confirmations.

FII Trading Data in Derivatives Segment on 02-Nov-2011

Nifty-Micro Analysis of Intra Day Chart For 03-11-2011

Nifty-Intra Day Chart(02-Nov-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Firstly upmoves in rising channel without consolidation
2- 3 hours selling between 5377-5297
3- Whole day trading between 5229-5299

Conclusions

Up moves started without any consolidation and selling seen within 5377-5297. As today selling is just below previous resistances( 5295-5310) therefore more down moves and continuation of ongoing correction expected in the coming sessions.

FII & DII trading activity in Capital Market Segment on 02-Nov-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 02-Nov-2011 1469.28 1477.06 -7.78

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 02-Nov-2011 736.5 744.29 -7.79

Indian Stock Markets Closing Reports(02-Nov-2011)

Main features of today trading are as follows

1- Most Indices closed with minor gains/loss and almost flat closing.
2- White Candle but flat closing.
3- Selling at higher levels and most Indices closed near day's lows.

Ratios

Nifty Put Call Ratio: 1.20
Nifty P/E Ratio(02-Nov-2011): 19.04

Advances & Declines

BSE ADVANCES : 1399
BSE DECLINES : 1443
NSE ADVANCES :  682
NSE DECLINES :  734

Nifty Open Interest Changed Today

Nifty- 5200 CE(Nov)- +45350(+1.78%)
Nifty- 5200 PE(Nov)- +504400(+11.76%)

Nifty- 5300 CE(Nov)- +270250(+6.34%)
Nifty- 5400 PE(Nov)- +504650(+16.43%)

Closing 

Nifty- closed at 5,258.45(+0.50 Points & +0.01%)
Sensex- closed at 17,464.85(+15.98 Points & +0.09%)
CNX MIDCAP - closed at 7,221.00(+15.60 Points & +0.22%)
BSE SMALL CAP- closed at 6,932.23(-4.24 Points & -0.06%)

Nifty Spot-Levels & Trading Strategy for 03-11-2011

Nifty Spot-Levels

R3 5400
R2 5350
R1 5304
Avg 5254
S1 5208
S2 5158
S3 5112

Nifty Spot-Trading Strategy

H6 5355     Trgt 2
H5 5332    Trgt 1
H4 5310     Long breakout
H3 5284     Go Short
H2 5275
H1 5266
L1 5249
L2 5240
L3 5231    Long
L4 5205     Short Breakout
L5 5183     Trgt 1
L6 5161    Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 03-11-2011

Nifty(Nov Fut)-Levels

R3 5419
R2 5376
R1 5328
Avg 5285
S1 5237
S2 5194
S3 5146

Nifty(Nov Fut)-Trading Strategy

H6 5371     Trgt 2
H5 5350     Trgt 1
H4 5330     Long breakout
H3 5305     Go Short
H2 5296
H1 5288
L1 5271
L2 5263
L3 5254     Long
L4 5229     Short Breakout
L5 5209     Trgt 1
L6 5188     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 03-11-2011

Bank Nifty(Nov Fut)-Levels

R3 10126
R2 10032
R1 9928
Avg 9834
S1 9730
S2 9636
S3 9532

Bank Nifty(Nov Fut)-Trading Strategy

H6 10023     Trgt 2
H5  9978     Trgt 1
H4  9932    Long breakout
H3  9878    Go Short
H2  9860
H1  9842
L1  9805
L2  9787
L3  9769    Long
L4  9715    Short Breakout
L5  9669    Trgt 1
L6  9624    Trgt 2

Pre-Closing Outlook(02-11-2011)

Nifty traded last 3 hours today between 5377-5297 with intraday selling indications today and sustaining below this range will be confirmation of ongoing correction continuation as well as it is expected also.

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

Indian markets strength was updated immediately after opening within first 20 minutes and following line was told in Post-open Outlook today:-

Although gap down opening and trading in Red since opening but not weak today.

Nifty recovered 60 points from lower levels today and showed strength through crossing 5260. Correction completion indication at lower levels today and confirmation will be crossing of following resistances at higher levels:-

1- 5295-5310
2- 5340-5365

Most uncertain global cues nowadays. Dow Jones was 297 points down yesterday but its Futures is more than 170 points up today therefore confirmation is must.

Post-open Outlook(02-11-2011)

Although gap down opening and trading in Red since opening but not weak today.Nifty traded last 2 hours between 5238-5260 yesterday with mixed patterns and Nifty got support within this range also yesterday therefore follow up moves within or near about this range as well as sustaining beyond this range will be next moves strong confirmation.

Be Bullish or Bearish according to sustaining beyond 5238-5260.

Pre-open Outlook(02-11-2011)

Although US and European markets closed in deep Red yesterday but Dow's Futures is more than 100 points up today morning therefore sentiment is little maintained and Asian markets are flat to 1.3% down today. Indian markets will also firstly trade between 5195-5225. Last 54 sessions trading range highest was at 5223 therefore sustaining it beyond will be next moves first indication and will be watched .

Let market get support and consolidation begin then correction completion will be considered.

Technical Analysis,Researches & Market Outlook(02-11-2011)

Most uncertain violently volatile global markets and once again crashing climate after negaive news flow from Europe. Most European markets closed 5% down yesterday and US markets are also more than 2% down. Sentiment is so badly damaged that most reliable 104 Points(5323-5219) gap up support of 28-10-2011 will be broken down today and Nifty will again trade between previous 54 sessions trading range(4720-5229) after negative cues infected market today.

Nifty Correction-EOD Chart(01-Nov-2011):-

Just click on chart for its enlarged view

Technically correction is on after 672 Points rally in 16 sessions and let down moves stop then completion of yesterday started correction will be considered and following 2 supports will be watched first:-

1- 5085-5140
2- 5011-5050

If Nifty consolidate near about above mentioned supports then correction completion will be considered.

Nifty-EOD Chart(01-Nov-2011):-

Just click on chart for its enlarged view

Nifty Fibonacci Retracement Levels:-

23.6%-5241
27.0%-5218
38.2%-5143
50.0%-5064
61.8%-4984
70.7%-4924
76.4%-4886
78.6%-4871
88.6%-4804

Conclusions

Markets are tend to reverse from Fibonacci Retracement Levels therefore above mentioned levels should also be watched. Next important level is 38.2%(5143),as it is near the top of 1st support therefore becomes most crucial.

Correction is on and let it stop and consolidation start then its completion and fresh upmoves will be considered. Markets are extremely affected by most uncertain news flow also therefore complete confirmations are required through intraday patterns formations. At present correction is on and its continuation will be expected after most supressed global cues and let consolidation patterns develop then up moves after correction completion will be considered.

FII Trading Data in Derivatives Segment on 01-Nov-2011

FII & DII trading activity in Capital Market Segment on 01-Nov-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 01-Nov-2011 1914.74 1935.4 -20.66

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 01-Nov-2011 666.56 1239.97 -573.41

Indian Stock Markets Closing Reports(01-Nov-2011)

Main features of today trading are as follows

1- All the Indices in Red
2- Black Candle.
3- Correction confirmation today and mild intraday support at lower levels.

Ratios

Nifty Put Call Ratio: 1.20
Nifty P/E Ratio(01-Nov-2011): 19.04

Advances & Declines

BSE ADVANCES : 1157
BSE DECLINES : 1657
NSE ADVANCES :  472
NSE DECLINES :  950

Nifty Open Interest Changed Today

Nifty- 5200 CE(Nov)- +68700(+2.780%)
Nifty- 5200 PE(Nov)- +736800(+18.30%)

Nifty- 5300 CE(Nov)- +1108650(+33.61%)
Nifty- 5300 PE(Nov)- -367300(-10.54%)

Closing 

Nifty- closed at 5,257.95(-68.65 Points & -1.29%)
Sensex- closed at 17,480.83(-224.18 Points & -1.27% )
CNX MIDCAP - closed at 7,205.40(-61.75 Points & -0.85%)
BSE SMALL CAP- closed at 6,936.47(-38.14 Points & -0.55%)

Nifty Spot-Levels & Trading Strategy for 02-11-2011

Nifty Spot-Levels

R3 5370
R2 5340
R1 5298
Avg 5268
S1 5226
S2 5196
S3 5154

Nifty Spot-Trading Strategy

H6 5329     Trgt 2
H5 5312     Trgt 1
H4 5296     Long breakout
H3 5276     Go Short
H2 5270
H1 5263
L1 5250
L2 5243
L3 5237      Long
L4 5217     Short Breakout
L5 5201     Trgt 1
L6 5184    Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 02-11-2011

Nifty(Nov Fut)-Levels

R3 5404
R2 5369
R1 5330
Avg 5295
S1 5256
S2 5221
S3 5182

Nifty(Nov Fut)-Trading Strategy

H6 5365     Trgt 2
H5 5348     Trgt 1
H4 5331     Long breakout
H3 5311     Go Short
H2 5304
H1 5297
L1 5284
L2 5277
L3 5270     Long
L4 5250     Short Breakout
L5 5233     Trgt 1
L6 5216     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 02-11-2011

Bank Nifty(Nov Fut)-Levels

R3 10195
R2 10107
R1 9988
Avg 9900
S1 9781
S2 9693
S3 9574

Bank Nifty(Nov Fut)-Trading Strategy

H6 10077     Trgt 2
H5 10030     Trgt 1
H4  9982    Long breakout
H3  9925    Go Short
H2  9906
H1  9887
L1  9850
L2  9831
L3  9812    Long
L4  9755    Short Breakout
L5  9707    Trgt 1
L6  9660    Trgt 2

Pre-Closing Outlook(01-11-2011)

Dow's Futures is more than 100 points down and European markets are 2% to 3% down today but support seen in Indian markets at lower levels and Nifty got support above 5219.Gap of 28-10-2011 not filled up today despite crashing global cues and today lowest is at 5238.30.

Correction is on on the back of depressing global markets and first of all 5238.30 will be watched tomorrow and sustaining above it will be completion of today started correction as well as  survival confirmation of gap support of 28-10-2011.

Mid-session Outlook(01-11-2011)

US markets closed more than 2% down yesterday and its futures is again more than 1% down today. Most European markets closed near about 3% down yesterday and its futures are also more than 2% down today. Although Asian markets are mixed but most are more than 1.2% down therefore sentiment has again turned weaker and Indian markets slipped to more than 1% down.

Correction is on and Indian markets slipped from higher levels after some selling and testing of 5219 will be more weakness signal because that will mean filling of gap(28-10-2011). As today down moves are showing falling channel formation(bullish pattern) therefore expected that correction will not be much deeper and will finish above 5219.

Huge Global volatality therefore confirmation is must through complete consolidation patterns.As soon as it will develop then will be updated.

Technical Analysis,Researches & Market Outlook(01-11-2011)

104 Points(5323-5219) gap up opening on 28-10-2011 and after that Nifty traded 2 days with mixed intraday patterns within 5318-5365. Profit booking possibility was told for both previous outlooks and it was seen also and negative zone trading will be seen in Indian markets today after weaker global cues.

Daily Indicators and Averages Chart:-

Just click on chart for its enlarged view

Nifty-Intra Day Chart(Oct 28 & Oct 31,2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 5 sessions intraday charts

1- Selling between 5340-5265
2- Condolidation Patterns between 5318-5345
3- Last 2 days trading between 5318-5365

Conclusions

672 Points rally in last 16 sessions and all the short term oscillators are overbought therefore its correction will be seen after higher levels profit booking and Red global markets. Correction may be range bound or some down moves may be seen and if 104 Points gap of 28-10-2011 does not filled up in this correction and Nifty finally sustains above 5219 then blasting rally will be seen in Indian markets after expected correction completion.

As mixed intraday patterns in both previous sessions therefore firstly sustaining below 5318 should be watched first after weak opening today and following 2 supports will be also watched first for completion of expected today correction:-

1- 5306
2- 5287

FII Trading Data in Derivatives Segment on 31-Oct-2011

Indian Stock Markets Closing Reports(31-Oct-2011)

Main features of today trading are as follows

1- Benchmark Indices closed in Red while MIDCAP and SMALLCAP closed in Green.
2- Most Indices closed in Red but some closed in Green also.
3- Small Back Candle.
3- Although Red closing but intraday charts are not suggesting pure selling patterns and consolidation signals also.

Ratios

Nifty Put Call Ratio: 1.13
Nifty P/E Ratio(31-Oct-2011): 18.90

Advances & Declines

BSE ADVANCES : 1482
BSE DECLINES : 1392
NSE ADVANCES :  744
NSE DECLINES :  692

Nifty Open Interest Changed Today

Nifty- 5300 CE(Nov)- +190150(+6.04%)
Nifty- 5300 PE(Nov)- +490000(+15.95%)

Nifty- 5400 CE(Nov)- +790450(+17.28%)
Nifty- 5400 PE(Nov)- -90700(-6.27%)

Closing 

Nifty- closed at 5,326.60(-34.10 Points & -0.64%)
Sensex- closed at 17,705.01(-99.79 Points & -0.56% )
CNX MIDCAP - closed at 7,267.15(+27.35 Points & +0.38%)
BSE SMALL CAP- closed at 6,974.61(+14.88 Points & +0.21%)

FII & DII trading activity in Capital Market Segment on 31-Oct-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 31-Oct-2011 2587.45 2228.67 358.78

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 31-Oct-2011 945.29 1221.65 -276.36

Nifty Spot-Levels & Trading Strategy for 01-11-2011

Nifty Spot-Levels

R3 5398
R2 5379
R1 5352
Avg 5333
S1 5306
S2 5287
S3 5260

Nifty Spot-Trading Strategy

H6 5372     Trgt 2
H5 5361     Trgt 1
H4 5351     Long breakout
H3 5338     Go Short
H2 5334
H1 5330
L1 5321
L2 5317
L3 5313    Long
L4 5300     Short Breakout
L5 5290     Trgt 1
L6 5279    Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 01-11-2011

Nifty(Nov Fut)-Levels

R3 5415
R2 5396
R1 5371
Avg 5352
S1 5327
S2 5308
S3 5283

Nifty(Nov Fut)-Trading Strategy

H6 5391     Trgt 2
H5 5381     Trgt 1
H4 5371     Long breakout
H3 5359     Go Short
H2 5355
H1 5351
L1 5342
L2 5338
L3 5334     Long
L4 5322     Short Breakout
L5 5312     Trgt 1
L6 5302     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 01-11-2011

Bank Nifty(Nov Fut)-Levels

R3 10411
R2 10268
R1 10142
Avg 9999
S1 9873
S2 9730
S3 9604

Bank Nifty(Nov Fut)-Trading Strategy

H6 10289     Trgt 2
H5 10226     Trgt 1
H4 10163     Long breakout
H3 10089     Go Short
H2 10065
H1 10040
L1  9991
L2  9966
L3  9942    Long
L4  9868    Short Breakout
L5  9805   Trgt 1
L6  9742    Trgt 2

Pre-Closing Outlook(31-10-2011)

Global cues led hugely volatile markets nowadays and today also Dow's Futures is more than 110 points down as well as all the European markets are more than 1.20% down after gap down opening today. Indian markets also traded whole day in Red but intra day patterns are mixed and require confirmations for next moves.

Although lower levels buying today and technically bullish market confirmations also but profit booking also seen at higher levels today and on 28-10-2011. Finally sustaining above 5323 will be next strong rally confirmations and will be watched first.

Nifty traded whole day between mentioned range(5310-5370) with mixed intraday patterns. Although Red closing will be seen ater whole day negative zone trading but intraday patterns are not showing pure selling but consolidation indications also therefore today range break out will give next trend confirmations and will be firstly watched in the coming sessions.

Only watch break out of 5310-5370 and sustaining beyond 5323 for next moves confirmations.

Mid-session Outlook(31-10-2011)

Indian markets slipped after higher levels profit booking but did not sustained below 5323 and recovered also from lower levels. Following line was told in Technical Analysis & Market Outlook today:-

Nifty wil firstly trade between 5310-5370 and finally sustain above 5323 and rally will remain continued.

Today first 2 hours trading range is 5316.95-5360.25

Nifty will prepare for all the next moves between 5310-5370 and this range break out will be next moves confirmation therefore

Only watch break out of 5310-5370

Post-open Outlook-2(31-10-2011)

Profit booking possibility was clearly told in Technical Analysis & Market Outlook today and it was seen also at higher levels today. Dow's futures is  more than 110 points down and all the Asian markets are also in Red as well as trading near day's lows.

Sentiment turned weak and immediate minor resistance developed between 5325-5350 therefore some weakness may be seen today and if Nifty finally sustains below 5323 then down moves will be considered.

Post-open Outlook(31-10-2011)

Dow's Futures is 90 points down and most Asian markets are also .50% to 1.00% down therefore sentiment turned weaker and Indian markets are also in Red since opening today. As some profit booking was expected therefore it was seen also immediately after opening today but supports will develop and until Nifty will not sustain below 5323 till then any down move will not be considered.

Technical Analysis & Market Outlook(31-10-2011)

Technical Analysis and Research of EOD charts,Technical Positions,next possibilities have already been explained in following 4 topics with 4 Charts therefore not being repeated:-

1- Most Bullish Island Reversal & 2 other Bullish Pattrens
2- Indian markets Waves structure from 2008 Crash to 28-Oct-2011
3- Wave-4 'ABC' Correction completion on 28-10-2011
4- Wave-4 correction completion at 61.8% Fibonacci Retracement level


Nifty-Intra Day Chart(28-Oct-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 5323-5345.
2- Minor selling between 5350-5265.
3- Whole day trading between 5323-5365.

Conclusions

Huge gap up and after that both consolidation and minor selling was seen between 5323-5365 on 28-10-2011. As sentiment is heated therefore voltality after minor profit booking may be seen today but expected that Nifty wil firstly trade between 5310-5370 and finally sustain above 5323 and raly will remain continued.

Most Bullish Island Reversal & 2 other Bullish Pattrens

Technical Analysis and Research & Market Outlook

Nifty-EOD Chart(28-Oct-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Rally highest at 6338.50 on 05-11-2010.
2- 9 Months Falling Trend Line Correction
3- 94 Points gap down on 05-08-2011(5323-5229)
4- 54 Sessions range bound consolidation between 4720-5229 after that.
5- Bullish'W' Pattern formation during 54 Sessions range bound market.
6- 104 Points gap on 28-10-2011(5323-5219).
7- Bullish Break out on 28-10-2011.
8- Bullish Island Reversal Pattren confirmation on 28-10-2011.
9- Long Term Trend reversal confirmation.

Conclusions

Finally sustaining above 5323 on 28-10-2011 is confirmation of following most bullish patterns:-

1- Bullish Island Reversal Pattren formation.
2- 54 Sessions range bullish Break out on 28-10-2011.
3- Bullish'W' Pattern formation during 54 Sessions range bound market

Last one year trend reversal and correction completion confirmation on 28-10-2011. Eruption of that blasting rally will be seen which will cross all time high in 2012.

Indian markets Waves structure from 2008 Crash to 28-Oct-2011

Technical Analysis and Research & Market Outlook

Nifty-EOD Chart(28-Oct-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 2008 Crash and its 5 waves completed on 27-10-2008 at 2252.
2- 5 months range bound consolidation
3- Range break out in March 2009
4- Impulsive Wave 1 confirmation on 27-10-2008 from 2252.
5- Wave-3 completed at 6338.50 on 05-11-2010 and Wave-4 begun.
6- Wave-4 completed at 4720 on 26-08-2011 and Wave-5 begun.
7- Wave-5 beginning confirmation on 28-10-2011 after crossing the 54 Sessions range, 94 points gap and sustaining above 5323.

Conclusions

Impulsive Wave-5 beginning confirmation therefore expected that strong rally will be seen above all time high in the coming months and year(2012) as well as minimum target in 2012 is 6652(113% of Wave-3)

Wave-4 'ABC' Correction completion on 28-10-2011

Technical Analysis and Research & Market Outlook

Nifty-EOD Chart(28-Oct-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-4 correction.
2- 'ABC' Correction pattern.
3- 'ABC' Correction completion after break out of 54 Sessions range bound  market between 4720-5229.
4- Impulsive Wave-5 commencement confirmation.

Conclusions


Corrective Wave-4 completed and impulsive Wave-5 is on therefore expected that it will cross Wave-3 top(6338.50) and new highs will be seenaccording to Wave-5 targets.

Wave-4 correction completion at 61.8% Fibonacci Retracement level

Technical Analysis and Research & Market Outlook

Nifty-EOD Chart (28-Oct-2011):-

Just click on chart for its enlarged view

Conclusions

It is the character that many time correction completes at or near about 61.8% Fibonacci Retracement level and same is visible in above EOD Chart. As Corrective Wave-4 completion and impulsive Wave-5 is beginning confirmation therefore expected that on going Wave-5 will cross all time high strong rally will be seen above all time high as well in the coming months and year(2012).