3 Topics for Next week Trading have already been updated and more topics will also be posted before the opening of next Monday markets.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Just Watch 200-Day SMA for Blasting rally
Nifty-EOD Chart(27-Jan-2012):-
Averages are as follows:
200-Day EMA is at-5131
200-Day SMA is at-5202
Conclusions
Short and Intermediate term trends are up and long term trend turning up confirmation will be after sustaining above 200-Day EMA as well as 200-Day SMA. Last 2 sessions closing above 200-Day EMA and testing of 200-Day SMA on 27-01-2012.
Strong breathless rally seen in last one month but last confirmation for blasing rally is left through sustaining above 200-Day SMA because Nifty got stiff resistance at 200-Day SMA 3 times earlier.
Long term trend turning up final confirmation will be after sustaining above 200-Day SMA and should be watched firstly in next week.
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| Just click on chart for its enlarged view |
200-Day EMA is at-5131
200-Day SMA is at-5202
Conclusions
Short and Intermediate term trends are up and long term trend turning up confirmation will be after sustaining above 200-Day EMA as well as 200-Day SMA. Last 2 sessions closing above 200-Day EMA and testing of 200-Day SMA on 27-01-2012.
Strong breathless rally seen in last one month but last confirmation for blasing rally is left through sustaining above 200-Day SMA because Nifty got stiff resistance at 200-Day SMA 3 times earlier.
Long term trend turning up final confirmation will be after sustaining above 200-Day SMA and should be watched firstly in next week.
Rally after very short term correction
Technical Analysis and Research For 30-01-2012
Nifty-EOD Chart(27-Jan-2012):-
Technical Patterns and Formations in EOD charts
1- Begining of strong rally on 20-12-2011 from 4531.15.
2- Trend Reversal 113 Sessions sideways market between 4720-5229 is intact.
3- Trend Reversal Broadening Pattern at the bottom of 14 months correction is intact.
4- Falling Trendline Correction from 5399 and its upward cross over.
5- Testing of Falling trend line from 6336 and Nifty retraced 7 times earlier from this falling trendline.
Conclusions from EOD chart analysis
Bullish pattrens are very much intact and Nifty is trading near the higher levels of these patterns. Testing of Falling trend line from 6336 and Nifty retraced 7 times earlier from this falling trendline. As sentiment is heated therefore therefore very short term correction is due now.
Nifty-EOD Chart(27-Jan-2012):-
1- Begining of strong rally on 20-12-2011 from 4531.15.
2- Trend Reversal 113 Sessions sideways market between 4720-5229 is intact.
3- Trend Reversal Broadening Pattern at the bottom of 14 months correction is intact.
4- Falling Trendline Correction from 5399 and its upward cross over.
5- Testing of Falling trend line from 6336 and Nifty retraced 7 times earlier from this falling trendline.
Conclusions from EOD chart analysis
Bullish pattrens are very much intact and Nifty is trading near the higher levels of these patterns. Testing of Falling trend line from 6336 and Nifty retraced 7 times earlier from this falling trendline. As sentiment is heated therefore therefore very short term correction is due now.
Very Short Term Correction is Due
Nifty-Micro Analysis of Intra Day Chart For 30-01-2012
Nifty-Intra Day Chart(27-Jan-2012):-
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| Just click on chart for its enlarged view |
1- Support between 5163-5185
2- Selling Patterns between 5187-5194
3- Selling Patterns between 5200-5210
4- Up moves without force in rising channel.
5- Whole day trading between 5163-5210
Conclusions from intra day chart analysis
Although closing near the top of the day after lower levels support but up moves have been without force as well as higher levels selling patterns also therefore view is cautions. Rally is on but correction is over due because short term indicators are heated and very short term correction may be seen for cooling down of overbought indicators.
Indian Stock Markets Closing Reports(27-Jan-2012)
Main features of today trading are as follows
1- Closing near the top of the day after lower levels support.
2- Mixed closing in Indices,some close positive and some in Red.
3- Intraday patterns are showing mixed patterns.
Ratios
Nifty Put Call Ratio: 1.31
Nifty P/E Ratio(27-Jan-2012): 18.55
Advances & Declines
BSE Advances : 1799
BSE Declines : 1099
NSE Advances : 961
NSE Declines : 492
Nifty Open Interest Changed Today
Nifty- 5100 CE(Jan)- -89100(-3.46%)
Nifty- 5100 PE(Jan)- +1358950(+46.20%)
Nifty- 5200 CE(Jan)- +406850(+9.38%)
Nifty- 5200 PE(Jan)- +1255550(+99.08%)
Nifty- 5300 CE(Jan)- +1008850(+34.44%)
Nifty- 5300 PE(Jan)- +161450(+26.38%)
Closing
Nifty- closed at 5,204.70(+46.40 Points & +0.90%)
Sensex- closed at 17,233.98(+156.80 Points & +0.92%)
CNX Midcap - closed at 7,089.65(+38.65 Points & +0.55%)
BSE Smallcap- closed at 6,491.69(+83.24 Points & +1.30%)
1- Closing near the top of the day after lower levels support.
2- Mixed closing in Indices,some close positive and some in Red.
3- Intraday patterns are showing mixed patterns.
Ratios
Nifty Put Call Ratio: 1.31
Nifty P/E Ratio(27-Jan-2012): 18.55
Advances & Declines
BSE Advances : 1799
BSE Declines : 1099
NSE Advances : 961
NSE Declines : 492
Nifty Open Interest Changed Today
Nifty- 5100 CE(Jan)- -89100(-3.46%)
Nifty- 5100 PE(Jan)- +1358950(+46.20%)
Nifty- 5200 CE(Jan)- +406850(+9.38%)
Nifty- 5200 PE(Jan)- +1255550(+99.08%)
Nifty- 5300 CE(Jan)- +1008850(+34.44%)
Nifty- 5300 PE(Jan)- +161450(+26.38%)
Closing
Nifty- closed at 5,204.70(+46.40 Points & +0.90%)
Sensex- closed at 17,233.98(+156.80 Points & +0.92%)
CNX Midcap - closed at 7,089.65(+38.65 Points & +0.55%)
BSE Smallcap- closed at 6,491.69(+83.24 Points & +1.30%)
Nifty Spot-Levels & Trading Strategy for 30-01-2012
R3 5281
R2 5249
R1 5226
Avg 5194
S1 5171
S2 5139
S3 5116
Nifty Spot-Trading Strategy
H6 5259 Trgt 2
H5 5246 Trgt 1
H4 5234 Long breakout
H3 5219 Go Short
H2 5214
H1 5209
L1 5198
L2 5193
L3 5188 Long
L4 5173 Short Breakout
L5 5161 Trgt 1
L6 5148 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 30-01-2012
R3 5286
R2 5255
R1 5233
Avg 5202
S1 5180
S2 5149
S3 5127
Nifty(Jan Fut)-Trading Strategy
H6 5265 Trgt 2
H5 5253 Trgt 1
H4 5241 Long breakout
H3 5226 Go Short
H2 5221
H1 5216
L1 5207
L2 5202
L3 5197 Long
L4 5182 Short Breakout
L5 5170 Trgt 1
L6 5158 Trgt 2
Bank Nifty(Jan Fut)-Levels & Trading Strategy for 30-01-2012
R3 10205
R2 10075
R1 9934
Avg 9804
S1 9663
S2 9533
S3 9392
Bank Nifty(Jan Fut)-Trading Strategy
H6 10067 Trgt 2
H5 10004 Trgt 1
H4 9942 Long breakout
H3 9867 Go Short
H2 9842
H1 9817
L1 9768
L2 9743
L3 9718 Long
L4 9643 Short Breakout
L5 9581 Trgt 1
L6 9518 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Jan 30 to Feb 03,2012)
R3 5469
R2 5343
R1 5273
Avg 5147
S1 5077
S2 4951
S3 4881
Nifty Spot-Weekly Trading Strategy
H6 5407 Trgt 2
H5 5359 Trgt 1
H4 5311 Long breakout
H3 5257 Go Short
H2 5239
H1 5221
L1 5186
L2 5168
L3 5150 Long
L4 5096 Short Breakout
L5 5048 Trgt 1
L6 5000 Trgt 2
Bank Nifty Spot-Weekly Levels & Trading Strategy(Jan 30 to Feb 03,2012)
R3 10549
R2 10259
R1 10036
Avg 9746
S1 9523
S2 9233
S3 9010
Bank Nifty Spot-Weekly Trading Strategy
H6 10345 Trgt 2
H5 10220 Trgt 1
H4 10095 Long breakout
H3 9954 Go Short
H2 9907
H1 9860
L1 9765
L2 9718
L3 9671 Long
L4 9530 Short Breakout
L5 9405 Trgt 1
L6 9280 Trgt 2
Mid-session Outlook(27-01-2012)
Although intraday mixed patterns with selling indications between 5150-5174 on 25-01-2012 but positive markets today after strong global cues led gap up opening but mixed signals are visible today also.
As today positive market is on the back of strong global cues therefore sustaining beyond today trading range will be watched next moves confirmation because mixed intraday(5163-5195) patterns.
As today positive market is on the back of strong global cues therefore sustaining beyond today trading range will be watched next moves confirmation because mixed intraday(5163-5195) patterns.
Very Short Term Correction is Due
Nifty-Micro Analysis of Intra Day Chart For 27-01-2012
Nifty-Intra Day Chart(25-Jan-2012):-
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| Just click on chart for its enlarged view |
1- Support between 5130-5140
2- Intraday mixed patterns with clear selling indications between 5150-5174 in last 3 hours.
3- Whole day trading between 5130-5174
Conclusions from intra day chart analysis
Whole day sideways trading between 5130-5174 with lower levels support between 5130-5140 and last 3 hours volatile market with intraday mixed intraday patterns but clear selling indications also seen between 5130-5174 today.
As already over bought indicators and intraday selling indications also today therefore very short term correction possibility can not be ruled out for cooling down of heated indicators.
Nifty traded with mixed intraday patterns between 4120-4140 on 24-01-2012 and today again mixed patterns(5130-5174) with higher levels selling indications therefore firstly trading between 5120-5174 and then slipping below 5120 may be seen next Friday. Running Bullish market and deeper correction will get confirmation after follow up selling and sustaining below 5120 only.
FII & DII trading activity in Capital Market Segment on 25-Jan-2012
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Indian Stock Markets Closing Reports(25-Jan-2012)
1- Selling Indications from intraday patterns today
2- All the Indices closed in Green except CG and Reality.
3- Midcap and Smallcap closed more than 1% up while benchmark Indices closed with minor gains.
4- Whole day trading in sideways market within 44 points.
Nifty Put Call Ratio: 1.07
Nifty P/E Ratio(25-Jan-2012): 18.38
Advances & Declines
BSE Advances : 1810
BSE Declines : 1050
NSE Advances : 961
NSE Declines : 483
Nifty Open Interest Changed Today
Nifty- 5000 CE(Jan)- +205150(+9.77%)
Nifty- 5000 PE(Jan)- +1259850(+44.99%)
Nifty- 5100 CE(Jan)- +351550(+15.82%)
Nifty- 5100 PE(Jan)- +1031750(+51.15%)
Nifty- 5200 CE(Jan)- +777050(+21.64%)
Nifty- 5200 PE(Jan)- +512950(+68.09%)
Closing
Nifty- closed at 5,158.30(+30.95 Points & +0.60%)
Sensex- closed at 17,077.18(+81.41 Points & +0.48% )
CNX Midcap - closed at 7,051.00(+96.95 Points & +1.39%)
BSE Smallcap- closed at 6,408.45(+70.44 Points & +1.11%)
Nifty Spot-Levels & Trading Strategy for 27-01-2012
R3 5222
R2 5198
R1 5178
Avg 5154
S1 5134
S2 5110
S3 5090
Nifty Spot-Trading Strategy
H6 5202 Trgt 2
H5 5192 Trgt 1
H4 5182 Long breakout
H3 5170 Go Short
H2 5166
H1 5162
L1 5153
L2 5149
L3 5145 Long
L4 5133 Short Breakout
L5 5123 Trgt 1
L6 5113 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 27-01-2012
R3 5251
R2 5224
R1 5202
Avg 5175
S1 5153
S2 5126
S3 5104
Nifty(Jan Fut)-Trading Strategy
H6 5230 Trgt 2
H5 5219 Trgt 1
H4 5207 Long breakout
H3 5194 Go Short
H2 5189
H1 5185
L1 5176
L2 5172
L3 5167 Long
L4 5154 Short Breakout
L5 5142 Trgt 1
L6 5131 Trgt 2
Bank Nifty(Jan Fut)-Levels & Trading Strategy for 27-01-2012
R3 10075
R2 10001
R1 9920
Avg 9846
S1 9765
S2 9691
S3 9610
Bank Nifty(Jan Fut)-Trading Strategy
H6 9996 Trgt 2
H5 9960 Trgt 1
H4 9925 Long breakout
H3 9882 Go Short
H2 9868
H1 9854
L1 9825
L2 9811
L3 9797 Long
L4 9754 Short Breakout
L5 9719 Trgt 1
L6 9683 Trgt 2
Pre-Closing Outlook(25-01-2012)
Whole day sideways trading between 5130-5174 with lower levels consolidation between 5130-5140 and last more than 3 hours volatile moves with intraday mixed patterns between 5150-5174. As Nifty is trading between resistance range(5130-5225) therefore such slow moves are possible but more or less mixed intraday patterns today therefore sustaining beyond will be confirmation.next Friday.
Whole day trading above 200-Day EMA and sustaining above will be strong signal of rally.
Whole day trading above 200-Day EMA and sustaining above will be strong signal of rally.
Mid-session Outlook(25-01-2012)
As mixed Patterns between 4120-4140 yesterday therefore next moves preparation near about this range today. Nifty is trading above 200-Day EMA(5130) since opening today and sustaining above will mean long term trend turning up.
Intraday support between 5130-5140 seen today and intraday patterns are also showing consolidation formations therefore more up moves possibilities turned higher now.
Intraday support between 5130-5140 seen today and intraday patterns are also showing consolidation formations therefore more up moves possibilities turned higher now.
RBI Credit Policy triggered Sparkling Rally
Technical Analysis and Research For
25-01-2012
25-01-2012
Nifty-EOD Chart(24-Jan-2012):-
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| Just click on chart for its enlarged view |
Technical Patterns and Formations in EOD charts
1- Falling Trendline 14 months correction
2- 200-Day EMA at 5130
3- 200-Day SMA at 5212
4- 3 Times resistance at 200-Day SMA
Nifty-Intra Day Chart(24-Jan-2012):-
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Technical Patterns and Formations in today intraday charts
1- Support between 5050-5068
2- Sharp rally after RBI Credit policy
3- Mixed Patterns between 4120-4140 in last more than 3 hours with tripple top formation.
4- Whole day trading between 5050-4140
Conclusions (After Putting All Studies Together)
As last 2 days intraday selling patterns therefore correction was expected today but as soon as positive zone and higher levels trading was seen we cautioned and confirmation requirement was updated in following line at 09:50:00 AM today;-
"news based market today therefore sustaining beyond 5058 should be firstly watched for confirmations"
As infusion of liquidity in RBI Credit Policy therefore sentiment enthused and sharp rally was seen after its announcement. Short term was already up and Intermediate term trend turned up above 5099 but its confirmation is also required through sustaining above 5099. Nifty tested 200-Day EMA(5130) today and sustaining above it will be strong indication of all trends turning up but confirmation will be after sustaining above 200-Day SMA(5212) because Nifty got stiff resistance at 200-Day SMA 3 times earlier.
Nifty traded between 4532-5399 in last 110 sessions and finally sustaining above 5399 will mean worst is over. Next resistances within this range are as follows:-
1- 5130-5225
2- 5260-5310
3- 5340-5375
Next resistance is most crucial because 200-Day SMA(5212) is falling within it.
As mixed intraday patterns between 5120-5140 in last more than 3 hours with tripple top formation therefore sustaining beyond will be firstly watched tomorrow and that will give confirmation that next moves after minor correction or without any further correction.
Expected that firstly minor intraday correction will be seen tomorrow.
FII & DII trading activity in Capital Market Segment on 24-Jan-2012
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Indian Stock Markets Closing Reports(24-Jan-2012)
1- Long White Candle.
2- All the Indices closed in Green.
3- RBI Credit polocy triggered strong rally.
Ratios
Nifty Put Call Ratio: 1.32
Nifty P/E Ratio(24-Jan-2012): 18.28
Advances & Declines
BSE Advances : 1596
BSE Declines : 1217
NSE Advances : 888
NSE Declines : 556
Nifty Open Interest Changed Today
Nifty- 5000 CE(Jan)- -1860000(-40.67%)
Nifty- 5000 PE(Jan)- +813500(+12.63%)
Nifty- 5100 CE(Jan)- -1397100(-21.00%)
Nifty- 5100 PE(Jan)- +1649750(+64.15%)
Nifty- 5200 CE(Jan)- +77000(+1.41%)
Nifty- 5200 PE(Jan)- +606350(+144.30%)
Closing
Nifty- closed at 5,127.35(+81.10 Points & +1.61%)
Sensex- closed at 16,995.77(+244.04 Points & +1.46%)
CNX Midcap - closed at 6,954.05(+119.85 Points & +1.75%)
BSE Smallcap- closed at 6,338.01(+44.00 Points & +0.70%)
Nifty Spot-Levels & Trading Strategy for 25-01-2012
R3 5254
R2 5197
R1 5162
Avg 5105
S1 5070
S2 5013
S3 4978
Nifty Spot-Trading Strategy
H6 5220 Trgt 2
H5 5199 Trgt 1
H4 5177 Long breakout
H3 5152 Go Short
H2 5143
H1 5135
L1 5118
L2 5110
L3 5101 Long
L4 5076 Short Breakout
L5 5054 Trgt 1
L6 5033 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 25-01-2012
R3 5264
R2 5206
R1 5163
Avg 5105
S1 5062
S2 5004
S3 4961
Nifty(Jan Fut)-Trading Strategy
H6 5222 Trgt 2
H5 5199 Trgt 1
H4 5175 Long breakout
H3 5147 Go Short
H2 5138
H1 5129
L1 5110
L2 5101
L3 5092 Long
L4 5064 Short Breakout
L5 5041 Trgt 1
L6 5017 Trgt 2
Bank Nifty(Jan Fut)-Levels & Trading Strategy for 25-01-2012
R3 10473
R2 10195
R1 10016
Avg 9738
S1 9559
S2 9281
S3 9102
Bank Nifty(Jan Fut)-Trading Strategy
H6 10312 Trgt 2
H5 10200 Trgt 1
H4 10088 Long breakout
H3 9962 Go Short
H2 9920
H1 9878
L1 9795
L2 9753
L3 9711 Long
L4 9585 Short Breakout
L5 9473 Trgt 1
L6 9361 Trgt 2
Pre-Closing Outlook(24-01-2012)
Strong rally after RBI Credit policy and after that more than 3 hours trading between 5120-5140. Next resistance range is between 5130-5225. As good run up today therefore its minor correction is firstly possible tomorrow.
Liquidity infusion enthused sentiment
Mid-session Outlook(24-01-2012)
Sentiment glittered after RBI cutting CRR by 50 BPS and all the Indices surged. As today opening was positive and traded at higher levels therefore we told at 09:50:00 AM for confirmation through sustaining beyond 5058.
Rally is very much on and Nifty tested 200-Day EMA(5130) today, sustaining above it will be strong indication of all trends turning up as well as more up moves.
Credit policy: RBI cuts CRR by 50 BPS
The Reserve Bank of India in its quarterly review meet on Tuesday cut the cash reserve ratio (CRR) by 50 bps to ease tight liquidity pressure in the banking system. RBI kept repo and reverse repo rates unchanged at 8.5% and 7.5% respectively, despite mounting anxiety over slowdown in growth.
The cash reserve ratio, the proportion of deposits that banks have to hold with the RBI, is a popular instrument to inject cash into the system. It now stands at 5.5%.
Tuesday's cut lowers the CRR to 5.50 per cent from 6.00 per cent, where it had stood since April 2010, and releases Rs 32,000 crore ($6.4 billion) of liquidity into the banking system, the RBI said.
Post-open Outlook(24-01-2012)
Last 2 sessions higher levels intraday selling patterns but positive zone trading after Green opening above 5058 today. View of correction possibility is still maintained but news based market today therefore sustaining beyond 5058 should be firstly watched for confirmations.
Correction despite whatsoever RBI Credit Policy tomorrow
Nifty-Intra Day Chart(23-Jan-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5044-5058 after Selling between 5035-5053 last Friday
2- Hanging Man like Bearish candle today after Hanging Man / Dragonfly Doji (Bearish)Candle last Friday.
3- Whole day trading between 5030-5058
Conclusions from intra day chart analysis
Today and last Friday intraday selling positions have been updated above. We don't about RBI Credit tomorrow but expected that Indian markets will finally move down after announcement of Credit Policy. As uncertainity therefore Market may be volatile but until Nifty will not sustain above sustain above 5058 till then any up move will not be considered.
Sustaining beyond following ranges will be next moves confirmation therefore may be watched also for confirmations:-
1- 5030-5058(First strong indication)
2- 5004-5064(Confirmation)
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| Just click on chart for its enlarged view |
1- Selling between 5044-5058 after Selling between 5035-5053 last Friday
2- Hanging Man like Bearish candle today after Hanging Man / Dragonfly Doji (Bearish)Candle last Friday.
3- Whole day trading between 5030-5058
Conclusions from intra day chart analysis
Today and last Friday intraday selling positions have been updated above. We don't about RBI Credit tomorrow but expected that Indian markets will finally move down after announcement of Credit Policy. As uncertainity therefore Market may be volatile but until Nifty will not sustain above sustain above 5058 till then any up move will not be considered.
Sustaining beyond following ranges will be next moves confirmation therefore may be watched also for confirmations:-
1- 5030-5058(First strong indication)
2- 5004-5064(Confirmation)
FII & DII trading activity in Capital Market Segment on 23-Jan-2012
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Indian Stock Markets Closing Reports(23-Jan-2012)
1- Flat closing in tight range market.
2- White Candle.
3- All the indices are mixed. Some closed positive while others closed in Red.
Ratios
Nifty Put Call Ratio: 1.30
Nifty P/E Ratio(23-Jan-2012): 18.14
Advances & Declines
BSE Advances : 1458
BSE Declines : 1332
NSE Advances : 708
NSE Declines : 734
Nifty Open Interest Changed Today
Nifty- 4900 CE(Jan)- +529300(+19.11%)
Nifty- 4900 PE(Jan)- +950850(+14.24%)
Nifty- 5000 CE(Jan)- +181550(+3.96%)
Nifty- 5000 PE(Jan)- +951900(+16.91%)
Nifty- 5100 CE(Jan)- +612950(+9.76%)
Nifty- 5100 PE(Jan)- +320450(+14.13%)
Closing
Nifty- closed at 5,046.25(-2.35 Points & -00.05%)
Sensex- closed at 16,751.73(+12.72 Points & +0.08%)
CNX Midcap - closed at 6,834.20(+31.05 Points & +0.46%)
BSE Smallcap- closed at 6,294.01(+16.74 Points & +0.27%)
Nifty Spot-Levels & Trading Strategy for 24-01-2012
R3 5101
R2 5080
R1 5063
Avg 5042
S1 5025
S2 5004
S3 4987
Nifty Spot-Trading Strategy
H6 5084 Trgt 2
H5 5075 Trgt 1
H4 5066 Long breakout
H3 5056 Go Short
H2 5052
H1 5049
L1 5042
L2 5039
L3 5035 Long
L4 5025 Short Breakout
L5 5016 Trgt 1
L6 5007 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 24-01-2012
R3 5092
R2 5077
R1 5064
Avg 5049
S1 5036
S2 5021
S3 5008
Nifty(Jan Fut)-Trading Strategy
H6 5079 Trgt 2
H5 5072 Trgt 1
H4 5066 Long breakout
H3 5058 Go Short
H2 5056
H1 5053
L1 5048
L2 5045
L3 5043 Long
L4 5035 Short Breakout
L5 5029 Trgt 1
L6 5022 Trgt 2
Bank Nifty(Jan Fut)-Levels & Trading Strategy for 24-01-2012
R3 9827
R2 9743
R1 9638
Avg 9554
S1 9449
S2 9365
S3 9260
Bank Nifty(Jan Fut)-Trading Strategy
H6 9724 Trgt 2
H5 9681 Trgt 1
H4 9637 Long breakout
H3 9585 Go Short
H2 9568
H1 9551
L1 9516
L2 9499
L3 9482 Long
L4 9430 Short Breakout
L5 9386 Trgt 1
L6 9343 Trgt 2
Pre-Closing Outlook(23-01-2012)
Whatsoever happened in Indian markets today all that was written in our Blog well before the opening of today market. We gave only 17 points range(5035-5053) and Nifty traded almost whole time within this range.
It is confirm that big moves will be seen after the break out of this range but very small trading range in news based market today but we shall try to understand from all the analytical tools and then will post our final conclusions and next possibilities before the opening of tomorrow market.
It is confirm that big moves will be seen after the break out of this range but very small trading range in news based market today but we shall try to understand from all the analytical tools and then will post our final conclusions and next possibilities before the opening of tomorrow market.
Mid-session Outlook-2(23-01-2012)
Following first indication range was given before the opening of today market in Weekly Outlook:-
1- 5035-5053(First Indication)
Our accuracy of levels can be understood from this fact that today first 4 hours trading range is 5030-5059 with selling indications at higher levels and lower levels supports also therefore today trading range break out and sustaining beyond will give next moves confirmations and will be firstly watched.
1- 5035-5053(First Indication)
Our accuracy of levels can be understood from this fact that today first 4 hours trading range is 5030-5059 with selling indications at higher levels and lower levels supports also therefore today trading range break out and sustaining beyond will give next moves confirmations and will be firstly watched.
Mid-session Outlook(23-01-2012)
First indication range(5035-5053) was given in Weekly Outlook(Jan 23 to Jan 27, 2012) and Nifty traded most of the time within that range after almost flat opening today with selling indications at higher levels.
Full guidances have already been given in 6 topics in last 2 days. Just go through and get next moves confirmations one by one through sustaining beyond already mentioned ranges.
Full guidances have already been given in 6 topics in last 2 days. Just go through and get next moves confirmations one by one through sustaining beyond already mentioned ranges.
Rally continuation after Correction Completion
Technical Analysis,Research & Weekly Outlook
(Jan 23 to Jan 27, 2012)
321 Points rally in two previous weeks but following headlines of previous weekly Outlooks are live proofs of this fact that we clearly and with full conviction predicted only for Rally and Bullish market well in advance:1- Bulls Will Welcome In Next Week(Weekly- Jan 07 to Jan 13,2012)
2- Rally Continuation in next week after Consolidations(Weekly- Jan 16 to Jan 20, 2012)
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Following 5 topics have been posted for complete analysis of next week market therefore just click following topics and understand Indian markets with intraday, EOD and indicators charts analysis:-1- Survival of Crucial Supports in 14 Months Bear Market
2- Daily Averages and Trends Analysis
3- Overbought Indicators demanding correction
4- Fibonacci Retracement Levels(4532-5400)
5- Firstly Confirmation through Selling Range Break Out
Conclusions (After Putting All Studies Together)
1- 61.8%(5068) retracement has been completed.
2- Nifty retraced from 5068 in previous week therefore sustaining beyond this level will be firstly watched.
3- Intraday charts showed selling patterns on 20-01-2012.
Short term indicators are in overbought zone and upper Band of Bollinger band has also being tested therefore short term correction is a demand before next up move. As good intraday selling and Hanging Man(Dragonfly Doji-Bearish) Candle Formation therefore correction is firstly expected in the beginning of next week. Ril news based huge volatility was seen last Friday therefore first of all sustaining beyond following 2 ranges will be seen for next moves confirmations:-
1- 5035-5053(First Indication)
2- 5004-5064(Confirmation)
Following points are suggesting for waiting before correction also:-
1- Indicators have not shown divergence yet.
2- All the Indicators are not in overbought zone.
Resistances at higher levels and supports are at lower levels therefore until Nifty will not sustain beyond any crucilal level till then next moves will not get confirmation.
Sustaining below 5004 will be correction confirmation and sustaining above 5064 will be confirmation of continuation of on going rally. As good intraday selling last Friday therefore correction of 533 points on going rally is expected. Although continuation of rally will be finally seen but correction possibility is very much alive in next week.
Overbought Indicators demanding correction
Daily Indicators Analysis
Nifty- 1 Year EOD Chart(20-Jan-2011):-
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| Just click on chart for its enlarged view |
Conclusions from indicators analysis are as follows
1- Bollinger Band- Nifty traded continuously at the sharply rising Upper Band line and strongly signalling the demand of correction.
2- MACD- MACD line is above Average line and both lines have diverged suufciently therefore indicating the demand converge through correction.
3- Slow Stochastic- Over bought and showing possibility of correction after previous week rally.
4- William %R- Over bought and showing possibility of correction after previous week rally.
5- ROC- RSI- Rising but not in over bought zone and no signal of divergence therefore showing scope for some more up moves before correction.
6- RSI- Rising but not in over bought zone and no signal of divergence therefore showing scope for some more up moves before correction.
Conclusions (After Putting All Indicators Together)
Indian markets are overbought and on the verge of correction. As divergence is not seen therefore signalling little more up moves possibility before beginning of correction.
Intraday selling indications on 20-Jan-2011 and overbought Indicators demanding correction also but divergence is not seen in indicators therefore follow up positions(buying/selling) in the beginning of coming week will be firstly watched for next decisive moves confirmations.
Fibonacci Retracement Levels(4532-5400)
Nifty-EOD Chart(20-Jan-2011)
Fibonacci Retracement Levels(4532-5400)
13.0%-4544
23.6%-4736
27.0%-4766
38.2%-4863
50.0%-4966
61.8%-5068
70.7%-5145
76.4%-5195
78.6%-5214
88.6%-5301
Conclusions from EOD chart analysis
61.8% Retracement Level is at 5068 and it was tested on 07-12-2012 as well as new bottom at 4532 was formed after retracement from this level. Retesting of same level with double top formation at same level on 20-Jan-2011 and completion of 61.8% retracement also.
61.8% Retracement Level is always most crucial and telling to wait and watch for intraday moves beyond this level therefore will be firstly analysed in the coming couple of sessions for the confirmation of following next moves:
1- Again small to deeper correction, or
2- Continuation of previous week rally with required correction at higher levels.
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| Just click on chart for its enlarged view |
13.0%-4544
23.6%-4736
27.0%-4766
38.2%-4863
50.0%-4966
61.8%-5068
70.7%-5145
76.4%-5195
78.6%-5214
88.6%-5301
Conclusions from EOD chart analysis
61.8% Retracement Level is at 5068 and it was tested on 07-12-2012 as well as new bottom at 4532 was formed after retracement from this level. Retesting of same level with double top formation at same level on 20-Jan-2011 and completion of 61.8% retracement also.
61.8% Retracement Level is always most crucial and telling to wait and watch for intraday moves beyond this level therefore will be firstly analysed in the coming couple of sessions for the confirmation of following next moves:
1- Again small to deeper correction, or
2- Continuation of previous week rally with required correction at higher levels.
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