Pre-Closing Outlook(20-04-2012)

Although market crashed after 02:20 PM but as soon as selling signals emerged then it was immediately updated at 10:47:00 AM today and clearly following line was told:-

Selling signals seen today

Higher levels good selling seen today and more down moves are expected now.

Post-open Outlook(20-04-2012)

Selling signals seen today.

Next moves confirmation range 5312-5338

Post-open Outlook(20-04-2012)

Following 2 trading ranges in last more than 3 hours yesterday:-

1- Follow up consolidation and higher bottom support between 5312-5322
2- Mixed Patterns between 5325-5338.

Nifty traded last more than 3 hours yesterday between 5312-5338 with lower levels supports and higher levels mixed patterns and Nifty is trading as well as preparing for next decisive moves within this range.

Today 1st hour trading range is- 5314-5334

Today 1st hour trading range(5314-5334) break out will be first signal and last more than 3 hours of yesterday trading range(5312-5338) break out will be confirmation of next decisive moves and trend. 

Bullish rally fate in the hands of 5341

Nifty-EOD Chart (19-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Break out of corrective falling Trend line and closing above it today.

Nifty-Intra Day Chart (19-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 5292-5310 
2- Follow up consolidation and higher bottom support between 5312-5322
3- Mixed Patterns between 5325-5338 
4- Whole day trading between 5292-5310

Conclusions (After Putting All Studies Together) 

Following technical analysis are strong indications of Bullish market beginning:-

1- Break out of corrective falling Trend line and closing above it today.
2- Consolidation between 5292-5310 today is confirmations of 1st resistance(5275-5305) break out.
3- More strength through follow up consolidation and higher bottom support between 5312-5322

Technically Indian markets are well prepared for strong rally but mixed Patterns between 5325-5338 therefore some more consolidations are required to sustain above yesterday resistance(5330-5341) and fresh Bullish rally beginning confirmations are also must through sustaining above corrective falling Trend line.

Only sustaining beyond 5341 should be watched tomorrow because it will also decide the validity of corrective falling Trend line break out. 

FII Trading Data in Derivatives Segment on 19-Apr-2012

FII & DII trading activity in Capital Market Segment on 19-Apr-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 19-Apr-2012 1866.75 1969.21 -102.46

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 19-Apr-2012 936.84 835.84 101

Indian Stock Markets Closing Reports(19-Apr-2012)

Main features of today trading are as follows

1- Bullish Hammer with White Candle formations..
2- Closing near the highs of the day.
3- Benchmark Indices closed in Green but Midcap Indices closed in Red.

Ratios

Nifty Put Call Ratio: 1.05
Nifty P/E Ratio(19-Apr-2012): 18.72

Advances & Declines

BSE Advances : 1460
BSE Declines : 1401
NSE Advances :  722
NSE Declines :  713

Nifty Open Interest Changed Today

Nifty- 5200 CE(Apr)- -545550(-18.22%)
Nifty- 5200 PE(Apr)- +3100(+0.04%)

Nifty- 5300 CE(Apr)- -55350(-1.19%)
Nifty- 5300 PE(Apr)- +702400(+14.85%)

Nifty- 5400 CE(Apr)- -485900(-6.50%)
Nifty- 5400 PE(Apr)- +292350(+11.15%)

Closing 

Nifty- closed at 5,332.40(+32.40 Points & +0.61%)
Sensex- closed at 17,503.71(+111.32 Points & +0.64% )
CNX Midcap - closed at 7,697.65(-2.40 Points & -0.03%)
BSE Smallcap- closed at 6,932.83(+18.34 Points & +0.27%)

Nifty Spot-Levels & Trading Strategy for 20-04-2012

Levels

R3 5403
R2 5372
R1 5352
Avg 5321
S1 5301
S2 5270
S3 5250

Trading Strategy

H6 5383     Trgt 2
H5 5371     Trgt 1
H4 5360     Long breakout
H3 5346     Go Short
H2 5341
H1 5336
L1 5327
L2 5322
L3 5317     Long
L4 5303     Short Breakout
L5 5292     Trgt 1
L6 5280     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 20-04-2012

Nifty(Apr Fut)-Levels

R3 5431
R2 5398
R1 5377
Avg 5344
S1 5323
S2 5290
S3 5269

Nifty(Apr Fut)-Trading Strategy

H6 5410     Trgt 2
H5 5398     Trgt 1
H4 5385     Long breakout
H3 5370     Go Short
H2 5365
H1 5360
L1 5351
L2 5346
L3 5341    Long
L4 5326     Short Breakout
L5 5313     Trgt 1
L6 5301     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 20-04-2012

Bank Nifty(Apr Fut)-Levels

R3 10850
R2 10744
R1 10678
Avg 10572
S1 10506
S2 10400
S3 10334

Bank Nifty(Apr Fut)-Trading Strategy

H6 10786     Trgt 2
H5 10746     Trgt 1
H4 10706     Long breakout
H3 10659     Go Short
H2 10643
H1 10627
L1 10596
L2 10580
L3 10564     Long
L4 10517     Short Breakout
L5 10477     Trgt 1
L6 10437     Trgt 2

All the Mid-session Outlooks of today are live proofs of supports/consolidations projections and Indian markets closed at the highest of the day today.

Pre-Closing Outlook(19-04-2012)

Confirmations through sustaining above 5341 was told in all the outlooks and Nifty retraced after forming top at 5338.50. yesterday selling 5330-5341 and also more than 1 hour trading between 5325-5338 but it was broken down also.

Clear supports at lower levels and higher bottom as well as support and consolidation also seen between between 311-5325.

Sustaining above 5341 has to be watched now and its possibility has turned brighter also after lower levels support and consolidations.

Mid-session Outlook-4(19-04-2012)

Nifty is hovering around 5330-5341(yesterday resistance) for the last 1 hour and sustaining it beyond should be firstly watched now because it will give most crucial falling trend line break out confirmations. 

Mid-session Outlook-3(19-04-2012)

Yesterday resistance of 5330-5341 has been tested today and Nifty is hovering it around for the last 45 minutes. Only sustaining above 5341 has to be watched now and its possibility has turned brighter also after lower levels support and consolidations.

Mid-session Outlook-2(19-04-2012)

As intraday support at lower levels today therefore up moves confirmations crucial levels are being firstly given:-

1- Sustaining above 5305(Top of 1st resistance of 5275-5305)
2- Sustaining above 5312( 1st 2 hours today trading range top)
3- sustaining above 5341( Top of yesterday resistance  5330-5341)

Follow up consolidations is required after intraday supports at lower levels today and intraday patterns upto this moment are showing consolidations.

Mid-session Outlook(19-04-2012)

Two hours quiet market between 5292-5312 and no clear intraday patterns formations yet. Minor support at lower levels seen and Nifty moved above 5312 also but lot of consolidations is required to sustain above yesterday selling range. if Nifty sustains above 5312 then firstly  it will be a small up move indication only at this moment. 

Sideways Market within Crucial Supports & Resistances

Nifty-Intra Day Chart (18-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 5330-5341
2- Last 2 hours down moves in falling channel.
3- Whole day trading between 5294-5342

Conclusions from intra day chart analysis 

Although US markets were blasting yesterday but Following precautionary line was clearly posted yesterday in Rally after sustaining above 5305:-

"technically rally beginning confirmations are must through sustaining above minimum above 1st Resistance and that is at 5305"

Firstly we cautioned yesterday through above line and again told today for intraday higher levels selling in both the Mid-session Outlooks. Higher levels selling confirmations was also updated well before the beginning of down moves at 01:03:00 PM.

Confirm selling at higher levels today but last 2 hours down moves in falling channel therefore sustaining below today lowest will be first down moves indication and sustaining below 5275(lower level of 1st Resistance 5275-5305) will be more and sharp down moves confirmations.

As firstly next moves confirmations will be through sustaining beyond immediate supports and resistances therefore these are as follows:-

1- First support 5210-5255
2- First resistance 5275-5305
3- Second resistance 5330-5341

Shooting Star/Gravestone Doji Bearish Candle formation today with genuine selling at higher levels but whole day intraday patterns are showing consolidation indications as well as lower levels supports also therefore firstly trading between 5210-5341 in all types of sentiments tomorrow and next moves preparation within this range through follow up buying/selling.

Confirmations will be after sustaining beyond 5210-5341 and Nifty will trade within this range tomorrow. Breaking out direction will be decided through analysis of intraday charts patterns formations and will be updated in Mid-session Outlooks in the same manner as selling confirmation was updated today before the beginning of down moves.

FII Trading Data in Derivatives Segment on 18-Apr-2012

FII & DII trading activity in Capital Market Segment on 18-Apr-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 18-Apr-2012 2478 2256.37 221.63

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 18-Apr-2012 988.09 950.21 37.88

Indian Stock Markets Closing Reports(18-Apr-2012)

Main features of today trading are as follows

1- Shooting Star/Gravestone Doji Bearish Candle formation
2- Benchmark Indices closed in Green.
3- Almost all the Indices slipped and closed near the lower levels of the day.

Ratios

Nifty Put Call Ratio: 1.06
Nifty P/E Ratio(18-Apr-2012):18.67

Advances & Declines

BSE Advances : 1621
BSE Declines : 1271
NSE Advances :  836
NSE Declines :  613

Nifty Open Interest Changed Today

Nifty- 5200 CE(Apr)- -241300(-7.46%)
Nifty- 5200 PE(Apr)- +689050(+9.53%)

Nifty- 5300 CE(Apr)- -116150(-2.45%)
Nifty- 5300 PE(Apr)- +655150(+15.30%)

Nifty- 5400 CE(Apr)- +556800(+7.69%)
Nifty- 5400 PE(Apr)- +678700(+33.37%)

Closing 

Nifty- closed at 5,300.00(10.30 Points & +0.19%)
Sensex- closed at 17,392.39(+34.45 Points & +0.20% )
CNX Midcap - closed at 7,700.05(+28.05 Points & +0.37%)
BSE Smallcap- closed at 6,914.49(+34.13 Points & +0.50%)

Nifty Spot-Levels & Trading Strategy for 19-04-2012

Nifty Spot-Levels

R3 5379
R2 5360
R1 5330
Avg 5311
S1 5281
S2 5262
S3 5232

Nifty Spot-Trading Strategy

H6 5349     Trgt 2
H5 5338     Trgt 1
H4 5326     Long breakout
H3 5313     Go Short
H2 5308
H1 5304
L1 5295
L2 5291
L3 5286     Long
L4 5273     Short Breakout
L5 5262     Trgt 1
L6 5250     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 19-04-2012

Nifty(Apr Fut)-Levels

R3 5405
R2 5384
R1 5353
Avg 5332
S1 5301
S2 5280
S3 5249

Nifty(Apr Fut)-Trading Strategy

H6 5374     Trgt 2
H5 5362     Trgt 1
H4 5350     Long breakout
H3 5336     Go Short
H2 5331
H1 5326
L1 5317
L2 5312
L3 5307     Long
L4 5293     Short Breakout
L5 5281     Trgt 1
L6 5269     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 19-04-2012

Bank Nifty(Apr Fut)-Levels

R3 10803
R2 10738
R1 10642
Avg 10577
S1 10481
S2 10416
S3 10320

Bank Nifty(Apr Fut)-Trading Strategy

H6 10707     Trgt 2
H5 10671     Trgt 1
H4 10634     Long breakout
H3 10590     Go Short
H2 10575
H1 10560
L1 10531
L2 10516
L3 10501     Long
L4 10457     Short Breakout
L5 10420     Trgt 1
L6 10384     Trgt 2

Mid-session Outlook(18-04-2012)

Higher levels selling confirmations through slipping below first trading range of today.

Mid-session Outlook(18-04-2012)

Gap up opening today after heated sentiment due to blasting global cues. Range bound trading between 5321-5342 with minor intraday selling at higher levels. Nifty is trading above the top of 1st resistance(5305) and sustaining above it will be strong rally confirmations therefore should be firstly watched today. As lower levels minor support also seen in last half hour therefore above mentioned today trading range break out will be  rally  after correction completion confirmations .

Rally after sustaining above 5305

Nifty-Intra Day Chart (17-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation and support between 5210-5255
2- Volatility after Credit Policy
3- Whole day trading between 5210-5296

Conclusions from intra day chart analysis 

Consolidation and support between 5210-5255 within that huge volatility today which was the result of two adverse news. Good news of .50% Repo rate cut and negative news of Congress defeat in Delhi MCD Elections generated huge volatility today.

Strong support range of 5175-5236 had been updated more than 20 times in last one month,Nifty tested and traded within this range in last 6 days but did not slipped below 5175 and sharply surged today. As again support confirmation between 5175-5236 in last 6 sessions therefore this support range has strengthened and now high possibility of rally.

Range bound bound market between 5175-5305 was projected yesterday in following topic:-

Market capped between 5175-5305

Nifty traded whole day between 5208.35-5298.20 today. As lower levels support within 5175-5236 and higher levels resistance between 5275-5305 therefore above topic was posted.  Nifty tested higher levels Resistance after getting lower levels support. Following 5 resistances were updated on 14-04-2012 in Crucial Supports and Resistances of 36 sessions Correction:-

5- 5588-5625
4- 5418-5487
3- 5357-5377
2- 5318-5337
1- 5275-5305

As good support and strong moves today therefore rally is expected after correction completion but technically rally beginning confirmations are must through sustaining above minimum above 1st Resistance and that is at 5305.

Above upmoves  are not being  projected after watching more than 1.30% positive moves in US markets but almost following same views were updated at 01:25:00 PM today in Mid-session Outlook-2(17-04-2012):-

"Firstly lower levels support before Credit Policy today and after that again higher bottom formation and support therefore first signal of upmoves but sustaining above 5265 should also be watched for strong indication"

FII Trading Data in Derivatives Segment on 17-Apr-2012

FII & DII trading activity in Capital Market Segment on 17-Apr-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 17-Apr-2012 2403.64 1962.49 441.15

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 17-Apr-2012 964.09 1177.3 -213.21

Indian Stock Markets Closing Reports(17-Apr-2012)

Main features of today trading are as follows

1- Green closing.
2- White Candle.
3- Closing near Day's highs after highly volatile market.

Ratios

Nifty Put Call Ratio:1.03
Nifty P/E Ratio(17-Apr-2012):18.63

Advances & Declines

BSE Advances : 1662
BSE Declines : 1178
NSE Advances :  860
NSE Declines :  565

Nifty Open Interest Changed Today

Nifty- 5200 CE(Apr)- +5000(+0.15%)
Nifty- 5200 PE(Apr)- +888650(+14.01%)

Nifty- 5300 CE(Apr)- +16750(+0.34%)
Nifty- 5300 PE(Apr)- +993250(+29.33%)

Nifty- 5400 CE(Apr)- +343450(+4.60%)
Nifty- 5400 PE(Apr)- +376900(+22.75%)

Closing 

Nifty- closed at 5,289.70(+63.50 Points & +1.22%)
Sensex- closed at 17,357.94(+206.99 Points & +1.21% )
CNX Midcap - closed at 7,672.00(+67.60 Points & +0.89%)
BSE Smallcap- closed at 6,880.36(+43.10 Points & +0.63%)

Nifty Spot-Levels & Trading Strategy for 18-04-2012

Nifty Spot-Levels

R3 5412
R2 5355
R1 5322
Avg 5265
S1 5232
S2 5175
S3 5142

Nifty Spot-Trading Strategy

H6 5380     Trgt 2
H5 5359     Trgt 1
H4 5338    Long breakout
H3 5313     Go Short
H2 5305
H1 5297
L1 5280
L2 5272
L3 5264    Long
L4 5239     Short Breakout
L5 5218     Trgt 1
L6 5197     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 18-04-2012

Nifty(Apr Fut)-Levels

R3 5459
R2 5392
R1 5355
Avg 5288
S1 5251
S2 5184
S3 5147

Nifty(Apr Fut)-Trading Strategy

H6 5424     Trgt 2
H5 5400     Trgt 1
H4 5376     Long breakout
H3 5347     Go Short
H2 5338
H1 5328
L1 5309
L2 5299
L3 5290     Long
L4 5261     Short Breakout
L5 5237     Trgt 1
L6 5213     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 18-04-2012

Nifty(Apr Fut)-Levels

R3 5459
R2 5392
R1 5355
Avg 5288
S1 5251
S2 5184
S3 5147

Nifty(Apr Fut)-Trading Strategy

H6 5424     Trgt 2
H5 5400     Trgt 1
H4 5376     Long breakout
H3 5347     Go Short
H2 5338
H1 5328
L1 5309
L2 5299
L3 5290     Long
L4 5261     Short Breakout
L5 5237     Trgt 1
L6 5213     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 18-04-2012

Bank Nifty(Apr Fut)-Levels

R3 11137
R2 10897
R1 10735
Avg 10495
S1 10333
S2 10093
S3 9931

Bank Nifty(Apr Fut)-Trading Strategy

H6 10987     Trgt 2
H5 10890     Trgt 1
H4 10794     Long breakout
H3 10683     Go Short
H2 10646
H1 10609
L1 10536
L2 10499
L3 10462     Long
L4 10351     Short Breakout
L5 10255     Trgt 1
L6 10158    Trgt 2

Pre-Closing Outlook(17-04-2012)

Firstly high volatility after 50 basis points Repo Rates cut by RBI and lower levels supports as well as higher bottom formation also with closing near day's higher levels today are strong indications of rally after correction completion.

Following lines were told yesterday in Market capped between 5175-5305:-

1- Free Trading zone between 5231-5275 and expected that Nifty will firstly trade and prepare for next moves within this range,break out of this range will be first indication
2- sustaining beyond 5175-5305 will be next decisive trend confirmation.
3- strong multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered
4-Nifty will trade next 2/3 sessions between 5175-5305 and prepare.

All above 4 projections of yesterday proved accurate today. Good support and strong moves today but rally beginning confirmations are must after correction completion through sustaining above minimum above 1st Resistance and that is at 5305.

Mid-session Outlook-2(17-04-2012)

Firstly lower levels support before Credit Policy today and after that again higher bottom formation and support therefore first signal of upmoves but sustaining above 5265 should also be watched for strong indication.

Mid-session Outlook(17-04-2012)

Market shoot up after RBI announcement of 50 basis points Repo Rates cut but could not cross Selling range of 13-04-20129(Resistance between 5275-5305). Following lines were told yesterday in Market capped between 5175-5305:-

"multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered"

Market is not prepared for any side  decisive moves therefore following topic was posted yesterdaY:-

Market capped between 5175-5305

Detailed analysis have already been updated in above topic yesterday therefore just click above topic link and go through.

Pre-open Outlook(17-04-2012)

Sentiment is depressed today morning because most Asian markets are trading in Red.

RBI Credit Policy at 11:00AM today and volatility immediately before and after its announcement may be seen. As RBI expressed worries on inflation in Micro Economic Review yesterday evening therefore cofusion on rates cut increased and SGX Nifty is more than 40 points today morning.

Market is capped between 5175-5305 today and follow up moves before and after Credit Policy will decide next market as well as break out of this range will be next moves confirmations.

Detailed analysis has already been updated yesterday in following topic:-

Market capped between 5175-5305

Market capped between 5175-5305

Nifty-Micro Analysis of 2 days Intra Day Chart

(Apr 13 & Apr 16,2012)

Nifty-Intra Day Chart (Apr 13 & Apr 16,2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 2 days intraday charts

1- Selling and Resistance between 5275-5305 on 13-04-2012
2- Mixed Patterns between 5200-5236 after Panic Bottom on 13-04-2012
3- Support and Consolidation between 5190-5205 on 16-04-2012
4- Mixed Patterns between 5217-5231 on 16-04-2012
5- Free Trading zone between 5231-5275

Conclusions from 2 days intra day chart analysis 

Strong old support range of 5175-5236 was told many times in last one week and Nifty traded whole day today between this range within 5183.50-5233.50 with lower levels supports and intraday consolidation patterns. Certainly mentioned old support range has strengthened today but strong multiple resistances at higher levels also therefore equally complete consolidation is required to sustaining above next Resistance(5275-5305) and until Nifty will not sustain above 5305 till then any decisive up move will not be considered. As strong supports are lying between 5175-5236 therefore more selling is also equally required to sustain below.

Free Trading zone between 5231-5275 and expected that Nifty will firstly trade and prepare for next moves within this range,break out of this range will be first indication and sustaining beyond 5175-5305 will be next decisive trend confirmation. If any big news will not be visible then expected that Nifty will trade next 2/3 sessions between 5175-5305 and prepare.

Detailed Technical analysis have been posted with EOD and Intraday charts in following topics in last 3 days. Just click Topic Link below and understand Indian markets:- 

1- Last corrective Wave before Strong Bullish Rally
2- Strong Rally Confirmations from Long Term Charts
3- Crucial Supports and Resistances of 36 sessions Correction
4- Lower Tops and Lower Bottoms Formation In On Going Correction
5- Correction is on & Firstly Watch Next Supports
6- Next Monday Asian markets reaction on Western Markets Bloodshed
7- Panic bottom formation on 13-04-2012
8- Market capped between Supports and Resistances

FII Trading Data in Derivatives Segment on 16-Apr-2012

FII & DII trading activity in Capital Market Segment on 16-Apr-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 16-Apr-2012 1341.24 1850.67 -509.43

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 16-Apr-2012 932.45 714.22 218.23

Indian Stock Markets Closing Reports(16-Apr-2012)

Main features of today trading are as follows

1- Benchmark Indices closed in Green.
2- White Candle.
3- Closing near the higher levels of the day.

Ratios

Nifty Put Call Ratio:0.92
Nifty P/E Ratio(16-Apr-2012):18.41

Advances & Declines

BSE Advances : 1554
BSE Declines : 1258
NSE Advances :  811
NSE Declines :  620

Nifty Open Interest Changed Today

Nifty- 5100 CE(Apr)- -268550(-25.41%)
Nifty- 5100 PE(Apr)- +81050(+1.35%)

Nifty- 5200 CE(Apr)- +260100(+8.47%)
Nifty- 5200 PE(Apr)- -97850(-1.52%)

Nifty- 5300 CE(Apr)- +495700(+10.70%)
Nifty- 5300 PE(Apr)- +110100(+3.35%)

Closing 

Nifty- closed at 5,226.20(+18.75 Points & +0.36%)
Sensex- closed at 17,150.95(+56.44 Points & +0.33% )
CNX Midcap - closed at 7,604.40(+24.80 Points & +0.33%)
BSE Smallcap- closed at 6,837.26(+38.03 Points & +0.56%)

Nifty Spot-Levels & Trading Strategy for 17-04-2012

Nifty Spot-Levels

R3 5295
R2 5264
R1 5245
Avg 5214
S1 5195
S2 5164
S3 5145

Nifty Spot-Trading Strategy

H6 5276     Trgt 2
H5 5264     Trgt 1
H4 5253     Long breakout
H3 5239     Go Short
H2 5235
H1 5230
L1 5221
L2 5216
L3 5212     Long
L4 5198     Short Breakout
L5 5187     Trgt 1
L6 5175     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 17-04-2012

Nifty(Apr Fut)-Levels

R3 5351
R2 5304
R1 5276
Avg 5229
S1 5201
S2 5154
S3 5126

Nifty(Apr Fut)-Trading Strategy

H6 5323     Trgt 2
H5 5306     Trgt 1
H4 5289     Long breakout
H3 5268     Go Short
H2 5261
H1 5254
L1 5241
L2 5234
L3 5227     Long
L4 5206     Short Breakout
L5 5189     Trgt 1
L6 5172     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 17-04-2012

Bank Nifty(Apr Fut)-Levels

R3 10824
R2 10662
R1 10574
Avg 10412
S1 10324
S2 10162
S3 10074

Bank Nifty(Apr Fut)-Trading Strategy

H6 10742     Trgt 2
H5 10683     Trgt 1
H4 10624    Long breakout
H3 10555     Go Short
H2 10532
H1 10509
L1 10464
L2 10441
L3 10418     Long
L4 10349     Short Breakout
L5 10290     Trgt 1
L6 10231     Trgt 2

Pre-Closing Outlook(16-04-2012)

Whole day trading today between crucial and strong support range(5175-5236) with lower levels supports and intraday consolidation patterns.

RBI Credit Policy led moves market will be seen tomorrow and sustaining beyond above mentioned range will be next decisive trend confirmation therefore should be firstly watched.

Mid-session Outlook(16-04-2012)

Following strong support range has been posted more than 5 times in last 7 sessions Outlooks;-

5175-5236 

Nifty is trading between this range since opening today and firstly sustaining beyond this range should be watched.

Possibilities of next moves beyond this range has already been updated in 8 Outlooks which have been posted in last 3 days.

Now volatility within this range is suggesting to adopt Cautious approach.

Last corrective Wave before Strong Bullish Rally

Technical Dissection,Next Direction & Crucial Supports of On Going Correction 

Nifty-EOD Chart (13-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Bullish Flag Pattern(Falling Channel) in on going Correction
2- C.W.-1(5171.45 on 07-03-2012)
3- C.W.-2(5499.40 on 14-03-2012)
4- C.W.-3(5135.95 on 29-03-2012)
5- C.W.-4(5378.75 on 03-04-2012)
6- C.W.-5 is on
(C.W.:Corrective Waves)

Nifty-EOD Chart (13-Apr-2012):-

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Technical Patterns and Formations in EOD charts

1- Two times support at 200 Day SMA in on going correction and 200-Day SMA is today at 5145.

Conclusions from EOD chartS analysis 

Downward Corrective Wave-5 continuation in on going correction and next supports at lower levels are as follows:-

1- 5175-5236 
2- 5136-5167
3- Two times support at 200 Day SMA in on going correction and 200-Day SMA is today at 5145.

Fibonacci Retracement Levels(5629-4532) of on going correction are as follows-

13.0%- 5486
23.6%- 5369
27.0%- 5332
38.2%- 5209
50.0%- 5080
61.8%- 4950
70.7%- 4852
76.4%- 4790
78.6%- 4765
88.6%- 4656

Conclusions (After Putting All Studies Together)

Nifty traded more than one hour on 13-04-2012 between 5200-5236 and within above mentioned 1st Support range which is strong support also. Next support range(5136-5167) below 5175 is most crucial because Nifty got 2 times support at 200 Day SMA in on going correction and 200-Day SMA(today at 5145) is lying within this range therefore support getting possibility at or near about Long Term Trend deciding 200-Day SMA can not be ruled out. Firstly above mentioned supports should be watched in the beginning of next week but C.W.-5 is on and bottom B3 formations below 5135.95 can not be ruled out.

Just click following topic Link to understand on going correction nature:-

Lower Tops and Lower Bottoms Formation In On Going Correction

Multiple resistances at higher levels and complete consolidations and base formation will not be seen till then Impulsive Sub Wave-3 after correction completion can not be considered. Although least possibility of sustaining below 200-Day SMA but correction is on and following 3 Crucial Fibonacci Retracement Levels should also be kept in mind.

Crucial 3 Fibonacci Retracement Levels(5629-4532)

1- 38.2%- 5209(Aleady broken down)
2- 50.0%- 5080(Testing possibility can not be ruled out in any correction)
3- 61.8%- 4950(Testing possibility can not be ruled out in any correction)

As Bullish Flag Pattern(Falling Channel) formations in on going Correction therefore finally Indian markets will get supports at any of above levels. Firstly correction completion and and after that Strong rally in the form of  Sub Wave-3 will generate to form new highs above 6000(Nifty). As soon as Indian markets will start consolidation and base formation then will be updated according to our last 5 years record.

Lower Tops and Lower Bottoms Formation In On Going Correction

Nifty-EOD Chart (13-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

Lower Tops and Lower Bottoms Formation

T1(5629.95)
T2(5499.40)
T3(5378.75)
B1(5171.45)
B2(5135.95)

Conclusions from EOD chart analysis 

Correction is on and its completion is required yet. As lower tops and lower bottoms formations in on going correction therefore new bottom B3 formations possibility below 5135.95 can not be ruled out in the coming week/weeks.

Strong Rally Confirmations from Long Term Charts

Nifty-EOD Chart(13-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 1st impulsive wave begun on 27-10-2008 from 2252.
2- 2nd corrective wave begun on 12-06-2009 from 4693.
3- 3rd impulsive wave begun on 13-07-2009 from 3919.
4- Corrective 4th beginning in Falling Channel(14 Months long) on 05-11-2010 from 6338. 
5- 5th impulsive wave begun on 20-12-2011 from 4532(Bottom in 13th month).
6- 14 Months Falling Channel final break out on 31-01-2012.
7- 5th wave gained 1098.80 Nifty Points in 45 sessions upto 22-02-2012
8- Corrective Sub Wave-1 beginning in Falling Channel from 22-02-2012.
9- Correction recent bottom at 5136 on 29-03-2012.

Conclusions from EOD chart analysis 

5th impulsive wave is on from 4532 after forming bottom in corrective 13th month on 20-12-2011 and its confirmation through break out of 14 months falling channel(Bullish Flag Pattern) on 31-01-2012. 5th wave gained 1098.80 Nifty Points in 45 sessions and after that corrective Sub Wave-1 beginning in Falling Channel(Bullish Flag Pattern) from 22-02-2012. Correction is on after formation of its recent bottom at 5136 on 29-03-2012 but no confirmation of its completion yet.

As on going correction is continued in falling channel(Bullish Flag Pattern) therefore technically strong indications of Bullish rally after completion of correction. Expected that finally Bullish Flag Pattern will result in the same manner as has been seen after correction completion on 20-12-2011 at 4532 and Nifty gained 1098.80 Points in 45 sessions.

Correction is on and possible lower levels will be updated within 24 hours. Just wait for on going correction completion confirmations and then expect blasting Bullish moves.