Lower levels supports and consolidation formations today but correction completion confirmation is required through sustaining above 5294.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Research For 30-08-2012
Nifty-Intra Day Chart (29-Aug-2012):-
Technical Patterns and Formations in today intraday charts
1- Firstly selling between 5320-5327
2- Down moves in Falling Channel
3- Whole day trading between
Conclusions from intra day chart analysis
Firstly selling and after that whole day down moves in falling channel as well as closing near day's lowest yesterday. As intraday selling and closing below 5294(Intermediate Term Trend decider) yesterday therefore sustaining beyond 5294 should be firstly watched in next couple of sessions because sustaining it below will mean 3 weeks to 3 months more down moves possibility.
Pre-open Outlook(30-08-2012)
Although US markets closed flat yesterday but Dow Jones's Futures is more than 40 points down today morning and sentiment turned weaker therefore all Asian markets are trading in Red and some are more than 1% down.
Long term trend is up,Short term Trend is down in on going correction and Intermediate term trend is yet to decide through sustaining beyond 5294,sentiment is weak today morning and firstly trading it below will be seen today after gap down opening. As intraday selling yesterday therefore minimum intraday consolidation is must for any decisive up move and follow up selling after weaker global sentiment will mean testing possibility of Long Term Trend decider 200-Day EMA(today at 5192) and/or 200-Day SMA(today at 5118)
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| Just click on chart for its enlarged view |
1- Firstly selling between 5320-5327
2- Down moves in Falling Channel
3- Whole day trading between
Conclusions from intra day chart analysis
Firstly selling and after that whole day down moves in falling channel as well as closing near day's lowest yesterday. As intraday selling and closing below 5294(Intermediate Term Trend decider) yesterday therefore sustaining beyond 5294 should be firstly watched in next couple of sessions because sustaining it below will mean 3 weeks to 3 months more down moves possibility.
Pre-open Outlook(30-08-2012)
Although US markets closed flat yesterday but Dow Jones's Futures is more than 40 points down today morning and sentiment turned weaker therefore all Asian markets are trading in Red and some are more than 1% down.
Conclusions (After Putting All Studies Together)
Long term trend is up,Short term Trend is down in on going correction and Intermediate term trend is yet to decide through sustaining beyond 5294,sentiment is weak today morning and firstly trading it below will be seen today after gap down opening. As intraday selling yesterday therefore minimum intraday consolidation is must for any decisive up move and follow up selling after weaker global sentiment will mean testing possibility of Long Term Trend decider 200-Day EMA(today at 5192) and/or 200-Day SMA(today at 5118)
Pre-Closing Outlook(29-08-2012)
Correction continuation after fresh intraday selling today and slipping below crucial support of 5294 as well as Intermediate term trend will be down after sustaining it below .
Mid-session Outlook(29-08-2012)
As CAG issue is not pacifying and lot of down fall in many stocks therefore View turning cautious after emergence of selling signals also today. Nifty is trading between 5316-5330 since opening today,forceful break out or sustaining beyond will be next trend confirmation.
Technical Analysis and Market Outlook(29-08-2012)
Nifty-Intra Day Chart (28-Aug-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5314-5340
2- Whole day trading between 5314-5352
Almost whole day consolidation with lower levels intraday supports also and rally expected without sustaining below 5314.
Pre-open Outlook(29-08-2012)
Asian markets are mixed with minor positive/negative zone trading after US markets flat closing yesterday therefore firstly trading between above mentioned yesterday trading range. As good consolidation yesterday therefore finally rally is expected above 5352.
Next crucial support at 5294 and until Nifty will not sustain below it till then any deeper correction will not be considered and sustaining above 5340 will be rally beginning confirmation after on going correction completion.
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| Just click on chart for its enlarged view |
1- Consolidation between 5314-5340
2- Whole day trading between 5314-5352
Conclusions from intra day chart analysis
Almost whole day consolidation with lower levels intraday supports also and rally expected without sustaining below 5314.
Pre-open Outlook(29-08-2012)
Asian markets are mixed with minor positive/negative zone trading after US markets flat closing yesterday therefore firstly trading between above mentioned yesterday trading range. As good consolidation yesterday therefore finally rally is expected above 5352.
Next crucial support at 5294 and until Nifty will not sustain below it till then any deeper correction will not be considered and sustaining above 5340 will be rally beginning confirmation after on going correction completion.
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Nifty Spot-Levels & Trading Strategy for 29-08-2012
Nifty Spot-Levels
R3 5405.00
R2 5382.00
R1 5358.00
Avg 5335.00
S1 5311.00
S2 5288.00
S3 5264.00
Nifty Spot-Trading Strategy
H6 5381 Trgt 2
H5 5370 Trgt 1
H4 5359 Long breakout
H3 5346 Go Short
H2 5342
H1 5338
L1 5329
L2 5325
L3 5321 Long
L4 5308 Short Breakout
L5 5297 Trgt 1
L6 5286 Trgt 2
R3 5405.00
R2 5382.00
R1 5358.00
Avg 5335.00
S1 5311.00
S2 5288.00
S3 5264.00
Nifty Spot-Trading Strategy
H6 5381 Trgt 2
H5 5370 Trgt 1
H4 5359 Long breakout
H3 5346 Go Short
H2 5342
H1 5338
L1 5329
L2 5325
L3 5321 Long
L4 5308 Short Breakout
L5 5297 Trgt 1
L6 5286 Trgt 2
Nifty(Aug Fut)-Levels & Trading Strategy for 29-08-2012
Nifty(Aug Fut)-Levels
R3 5412.33
R2 5388.67
R1 5367.33
Avg 5343.67
S1 5322.33
S2 5298.67
S3 5277.33
Nifty(Aug Fut)-Trading Strategy
H6 5391 Trgt 2
H5 5380 Trgt 1
H4 5370 Long breakout
H3 5358 Go Short
H2 5354
H1 5350
L1 5341
L2 5337
L3 5333 Long
L4 5321 Short Breakout
L5 5311 Trgt 1
L6 5300 Trgt 2
R3 5412.33
R2 5388.67
R1 5367.33
Avg 5343.67
S1 5322.33
S2 5298.67
S3 5277.33
Nifty(Aug Fut)-Trading Strategy
H6 5391 Trgt 2
H5 5380 Trgt 1
H4 5370 Long breakout
H3 5358 Go Short
H2 5354
H1 5350
L1 5341
L2 5337
L3 5333 Long
L4 5321 Short Breakout
L5 5311 Trgt 1
L6 5300 Trgt 2
Bank Nifty(Aug Fut)-Levels & Trading Strategy for 29-08-2012
Bank Nifty(Aug Fut)-Levels
R3 10301.67
R2 10239.33
R1 10164.67
Avg 10102.33
S1 10027.67
S2 9965.33
S3 9890.67
Bank Nifty(Aug Fut)-Trading Strategy
H6 10227 Trgt 2
H5 10196 Trgt 1
H4 10165 Long breakout
H3 10127 Go Short
H2 10115
H1 10102
L1 10077
L2 10064
L3 10052 Long
L4 10014 Short Breakout
L5 9983 Trgt 1
L6 9952 Trgt 2
R3 10301.67
R2 10239.33
R1 10164.67
Avg 10102.33
S1 10027.67
S2 9965.33
S3 9890.67
Bank Nifty(Aug Fut)-Trading Strategy
H6 10227 Trgt 2
H5 10196 Trgt 1
H4 10165 Long breakout
H3 10127 Go Short
H2 10115
H1 10102
L1 10077
L2 10064
L3 10052 Long
L4 10014 Short Breakout
L5 9983 Trgt 1
L6 9952 Trgt 2
Pre-Closing Outlook(28-08-2012)
Whole day negative zone trading with intraday consolidation formations and fresh up moves will be seen within 1/2 days after on going correction completion.
Mid-session Outlook(28-08-2012)
Slipping immediately after opening but double bottom support also at 5332,sustaing it above will be correction completion confirmation.
Technical Analysis and Market Outlook(28-08-2012)
Nifty-Intra Day Chart (27-Aug-2012):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves in Falling Channel
2- Whole day trading between 5348-5389
Whole day down moves in Falling Channel which is consolidation formation also. As down moves without much selling and development of consolidation formations therefore expected that fresh up moves will start within 1/2 sessions after on going correction completion.
Pre-open Outlook(28-08-2012)
As all the Asian markets are moderately in Red today morning after almost flat closing in US markets therefore sentiment is little weaker and flat opening is expected in Indian markets. Long and Intermediate term Trends are up and short term trend will be down below 5342.
Correction continuation and its completion confirmation is required,firstly sustaining beyond 5342 should be watched today for Correction completion confirmation.
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| Just click on chart for its enlarged view |
1- Whole day down moves in Falling Channel
2- Whole day trading between 5348-5389
Conclusions from intra day chart analysis
Whole day down moves in Falling Channel which is consolidation formation also. As down moves without much selling and development of consolidation formations therefore expected that fresh up moves will start within 1/2 sessions after on going correction completion.
Pre-open Outlook(28-08-2012)
As all the Asian markets are moderately in Red today morning after almost flat closing in US markets therefore sentiment is little weaker and flat opening is expected in Indian markets. Long and Intermediate term Trends are up and short term trend will be down below 5342.
Correction continuation and its completion confirmation is required,firstly sustaining beyond 5342 should be watched today for Correction completion confirmation.
Nifty Spot-Levels & Trading Strategy for 28-08-2012
Nifty Spot-Levels
R3 5437
R2 5418
R1 5384
Avg 5365
S1 5331
S2 5312
S3 5278
Nifty Spot-Trading Strategy
H6 5403 Trgt 2
H5 5391 Trgt 1
H4 5379 Long breakout
H3 5364 Go Short
H2 5359
H1 5354
L1 5345
L2 5340
L3 5335 Long
L4 5320 Short Breakout
L5 5308 Trgt 1
L6 5296 Trgt 2
R3 5437
R2 5418
R1 5384
Avg 5365
S1 5331
S2 5312
S3 5278
Nifty Spot-Trading Strategy
H6 5403 Trgt 2
H5 5391 Trgt 1
H4 5379 Long breakout
H3 5364 Go Short
H2 5359
H1 5354
L1 5345
L2 5340
L3 5335 Long
L4 5320 Short Breakout
L5 5308 Trgt 1
L6 5296 Trgt 2
Nifty(Aug Fut)-Levels & Trading Strategy for 28-08-2012
Nifty(Aug Fut)-Levels
R3 5440
R2 5423
R1 5392
Avg 5375
S1 5344
S2 5327
S3 5296
Nifty(Aug Fut)-Trading Strategy
H6 5410 Trgt 2
H5 5399 Trgt 1
H4 5388 Long breakout
H3 5375 Go Short
H2 5370
H1 5366
L1 5357
L2 5353
L3 5348 Long
L4 5335 Short Breakout
L5 5324 Trgt 1
L6 5313 Trgt 2
R3 5440
R2 5423
R1 5392
Avg 5375
S1 5344
S2 5327
S3 5296
Nifty(Aug Fut)-Trading Strategy
H6 5410 Trgt 2
H5 5399 Trgt 1
H4 5388 Long breakout
H3 5375 Go Short
H2 5370
H1 5366
L1 5357
L2 5353
L3 5348 Long
L4 5335 Short Breakout
L5 5324 Trgt 1
L6 5313 Trgt 2
Bank Nifty(Aug Fut)-Levels & Trading Strategy for 28-08-2012
Bank Nifty(Aug Fut)-Levels
R3 10521
R2 10446
R1 10311
Avg 10236
S1 10101
S2 10026
S3 9891
Bank Nifty(Aug Fut)-Trading Strategy
H6 10387 Trgt 2
H5 10339 Trgt 1
H4 10292 Long breakout
H3 10234 Go Short
H2 10215
H1 10196
L1 10157
L2 10138
L3 10119 Long
L4 10061 Short Breakout
L5 10014 Trgt 1
L6 9966 Trgt 2
R3 10521
R2 10446
R1 10311
Avg 10236
S1 10101
S2 10026
S3 9891
Bank Nifty(Aug Fut)-Trading Strategy
H6 10387 Trgt 2
H5 10339 Trgt 1
H4 10292 Long breakout
H3 10234 Go Short
H2 10215
H1 10196
L1 10157
L2 10138
L3 10119 Long
L4 10061 Short Breakout
L5 10014 Trgt 1
L6 9966 Trgt 2
Pre-Closing Outlook(27-08-2012)
Correction is on and today intraday patterns are showing consolidation formations therefore expected that up moves will be seen after correction completion within 1/2 sessions.
Mid-session Outlook(27-08-2012)
Although slipping immediately after opening and trading near today intraday lows but today trading patterns are showing consolidation formations therefore up moves are expected after correction completion within 1/2 sessions.
Nifty at 5610.60 after completion of on going correction
Technical Analysis,Research & Weekly Outlook
(Aug 27 to Aug 31,2012)
Nifty-EOD Chart (24-Aug-2012):- |
| Just click on chart for its enlarged view |
1- Wave-1(5629.95 on 22-02-2012)
2- Wave-2(4770.35 on 04-06-2012)
3- Sub Wave-1(5348.55 ON 10-07-2012)
4- Sub Wave-2(5032.40 on 26-07-2012)
5- Sub Wave-3 oF Wave-3 is on
6- Long term trend decider 200-Day SMA at 5116
7- Long term trend decider 200-Day EMA at 5188
Conclusions from EOD chart analysis
All trends are up and minor correction of Sub Wave-3 is on from last 2 sessions.
Nifty-Intra Day Chart (Aug 23 & Aug 24,2012):-
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| Just click on chart for its enlarged view |
1- Selling between 5436-5448
2- Consolidation between 5371-5335
Conclusions from 2 Sessions intra day chart analysis
Higher levels selling and lower levels buying in last 2 sessions therefore firstly sideways market expected within last 2 sessions trading range(5371-5448).
Conclusions (After Putting All Indicators Together)
Wave-3 is on and as per Elliott Wave theory it can not be shorter than Wave-1 which rallied 578.20(5348.55-4770.35) points. Wave-3 started from 5032.40 and it should move up minimum 578.20 points therefore minimum tanget of on going rally is 5610.60(5032.40+578.20).
Nifty is well above both Long term trend deciders 200-Day SMA and 200-Day EMA as well as given confirmations of Long term trend turning up through sustaining it above. Very Short term correction seen in last 2 sessions but lower levels support also seen on 24-08-2012.
Although correction is on but Consolidation between 5371-5335 on 24-08-2012 therefore firstly sustaining beyond this range will be watched in the beginning of next week and sustaining it beyond will decide the depth or completion of on going correction.
Very Short term correction is on and let its completion confirmation come then rally toward minimum 5610.60 will be seen. Expected that fresh up moves will start after completion of on going correction.
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