Trading Levels for 04-01-11

Nifty Spot Levels for 04-01-11

R3 6207
R2 6193
R1 6175
AVG 6161
S1 6143
S2 6129
S3 6111  

Nifty Jan Futures Levels for 04-01-11

R3 6233
R2 6220
R1 6201
AVG 6188
S1 6169
S2 6156
S3 6137
 
Bank Nifty Jan Futures Levels for 04-01-11

R3 12021
R2 11988
R1 11942
AVG 11909
S1 11863
S2 11830
S3 11784

NIFTY-JAN F&O-1ST SELLING TRADE OF 03-01-2011-TRADE

NIFTY(JAN FUT-SELL-POSITIONAL)SL-6211-TGT-6144-CMP-6180
NIFTY(JAN PUT OPTION-BUY-POSITIONAL)-S.P.FOR PUT-6100,6200-NIFTY(JAN FUT)-RATES ARE FOR-SL-6211-TGT-6144 FOR ALL OPTIONS-CMP-6180

Mid-Session-2(03-01-2011)

Indian markets under performing and selling signal are also seen in today intraday charts. Until Nifty will not sustain above 6180 till then next up move will not be considered.

Mid-Session(03-01-2011)

All the global markets are welcoming 2011 with strong gains today morning. Asian markets are more than 1% up and Dow's futures is trading more than 60 points up therefore Indian markets opened gap up. Bull rally is on and according to its nature it corrects and consolidate at higher levels also. As sentiment is over heated today morning therefore cooling down in intraday correction is must for fresh long positions. Let market form minumum intraday base then buying should be considered.

Rally is continued after last week Break Out

Weekly Analysis- 03-01-2011 to 07-01-2011

Wishing you all a very Prosperous, Happy, Healthy & Wealthy New Year 2011

All trends are up, 5th impulsive sub-wave of wave 3 confirmed in last week after completing intermediate term correction in 27 sessions range bound moves.

1-Waves Structure of on going Trend chart:-

(Just click on chart for enlarged view)

Nifty closed at 6135 after forming high at 6147 last Friday. Next resistance ranges are of Indian markets are as follows:-

1- 6180-6195
2- 6250-6320(strong resistance)

5th impulsive sub-wave of wave 3 commenced in last week its Projections and targets are as follows

1- 1st impulsive sub-wave of wave 3 moved up- 5399-3919=1480 points up
2- 2nd corrective sub-wave of wave 3 moved up- 5399-4786=613 points down
3- 3rd impulsive sub-wave of wave 3 moved up- 6339-4786=1553 points up
4- 4th corrective sub-wave of wave 3 moved down- 6339-5690=649 points down
5- 5th impulsive sub-wave of wave 3 if on from 5690 with following projections:-

A- As per Elliot Wave theory "Wave 3 should not be shorter than both Wave 1 and Wave 5" therefore Wave 5 will move up less than 1553 point. Wave 5 started from 5690 and its:-

Wave 5 maximum lenth will be:- 5690+1553= 7243

B- 4th corrective sub-wave was 649 points down and will be better to draw Fibonacci levels acccording to that:-

1- 123.6%- 6492
2- 138.2%- 6586
3- 150.0%- 6663
4- 161.8%- 6740 
5- 176.4%- 6834
6- 200.0%- 6988
7- 223.6%- 7141

As per theory Nifty will positively retrace before testing 7243 and then ABC correction of Wave-3 will be seen according to Fibonacci levels from the top to origin point of Wave-3(3919)

Conclusion

Uptrend got confirmation last week and will be seen now to test above mentioned levels. Complete distribution patterns require for begining of any down trend and until that will not happen minimum on EOD charts till then and any down move will not be considered. Intraday and very short term correction of previous fast up moves always happens to cool down sentiments and that will be seen regularly.

Bullish formations,Trnd lines and Break out:-

(Just click on chart for enlarged view)

Last 2 sessions intraday charts are showing distribution signals therefore a minor/very short term correction is possible in the begining of week and fresh rally will be seen after mentioned correction completion in the coming week.

Finally rally will remain continued and weekly closing will be in Green.

Trading Levels for 03-01-11,Next Week & Jan 2011 Levels

Nifty Spot Levels for 03-01-11

R3 6196
R2 6171
R1 6153
AVG 6128
S1 6110
S2 6085
S3 6067  

Nifty Jan Futures Levels for 03-01-11

R3 6237
R2 6209
R1 6186
AVG 6158
S1 6135
S2 6107
S3 6084
 
Bank Nifty Jan Futures Levels for 03-01-11

R3 12112
R2 11994
R1 11916
AVG 11798
S1 11720
S2 11602
S3 11524

Nifty Spot Weekly Levels (03 Jan to 07 Jan 2011)

R3 6359
R2 6253
R1 6194
AVG 6088
S1 6029
S2 5923
S3 5864

(Jan-2011)(Monthly Levels)

R3 6707
R2 6427
R1 6281
AVG 6001
S1 5855
S2 5575
S3 5429

Bullish formations,Trnd lines and Break out

(Just click on chart for its enlarged view)

Waves Structure of on going Trend

(Just click on chart for its enlarged view)

Mid-Session-2(31-12-2010)

Nifty is trading above 6100 since morning today and also crossed resistance of 6120. Rally is very much on to test last tesistance of rally(6250-6320). Risky players may may ride on running horse and safe players may wait slowing down or stopping of horse(minor intraday cotrrection) for riding.

Mid-Session(31-12-2010)

Market heated immediately after opening today and will be safer to buy after some intraday correction

Pre-Open Market Outlook(31-12-2010)

Following lines were told yesterday:-

"6100 expected within 2/3 sessions"

Nifty traded most of the time within 6070-6085 and tested 6100 in last half hour yesterday as well as closed above 6100 but Nifty Jan Fut did not responded this last half hour sharp surge. Although Nifty Jan Fut moved up in last hour but completely under performed Nifty spot yesterday. Mentioned surge was seen in resistance range(6080-6100) and Nifty Jan Fut intraday charts of yesterday are indicating selling signals also therefore more consolidation required within 6080-6120 for fresh up moves. As most of the pivotal stocks intraday charts of yesterday are suggesting buying formations therefore more up moves are expected after some more consolidation today.

As more consolidation is fresh rally demand therefore it will be seen first within 6080-6120 today and fresh rally above 6100 expected in next Session,Week,Month & Year.

Trading Levels for 31-12-10

Nifty Spot Levels for 31-12-10

R3 6162
R2 6134
R1 6118
AVG 6090
S1 6074
S2 6046
S3 6030  

Nifty Jan Futures Levels for 31-12-10

R3 6180
R2 6160
R1 6145
AVG 6125
S1 6110
S2 6090
S3 6075
 
Bank Nifty Jan Futures Levels for 31-12-10

R3 11842
R2 11790
R1 11735
AVG 11683
S1 11628
S2 11576
S3 11521

Mid-Session Outlook(30-12-2010)

Market slipped from higher levels on expected therefore following lines were told in Pre-Open Outlook:-

1- Voltality and little profit booking at higher levels may be seen

2- Fresh long positions should be created after completion of intraday corrections

Sentiment was heated today morning therefore cooling down was consolidation requirement and it is being happened. Intraday charts not showing distribution formation despite Nifty intraday trading low formation. Fresh consolidation expected and its signals are being seen also. As market has to prepare to cross next resistance(6080-6120) therefore trading near its lower band and fresh up moves are expected after 1/2 sessions fresh consolidations.

Rally after Correction Completion

Pre-Open Market Outlook(30-12-2010)

Intermediate term correction which begun from Deepawali Muhurrat session finished yesterday after 27 days range bound moves between 5690-6069. Although Nifty could not closed above range but last 2 sessions intraday consolidations and up moves patterns are suggesting that Nifty will sustain finally above 6069 and fresh rally will be seen now to test follwing resistances:-

1- 6080-6120
2- 6180-6195
3- 6250-6320(strong resistance)

As 27 sessions range bound move is being broken out therefore decisive rally and above mentioned 3rd resistance testing possibility can not be ruled out.

All trends are up now and 5th impulsive sub wave of wave 3 is confirmed yesterday and its targets are much above all time high but its calculations will be disclosed after crossing crucial resistances. Mentioned Waves structutes of Wave 3 is clearly shown in following EOD chart:-

1- Waves structutes of Wave 3 Chart:-

 

(Just click on chart for enlarged view)

Sentiment will be heated today morning and Nifty has to cross immediate resistance range(6080-6120) for any fresh rally therefore consolidation requires within mentioned range. Voltality and little profit booking at higher levels may be seen but finally fresh rally above 6100 expected within 2/3 sessions. Fresh long positions should be created after completion of intraday corrections.

Today Green/Red/flat closing can not be guaranteed but fresh rally above 6100 expected within 2/3 sessions.

Trading Levels for 30-12-10

Nifty Spot Levels for 30-12-10

R3 6149
R2 6108
R1 6084
AVG 6043
S1 6019
S2 5978
S3 5954

Nifty Dec Futures Levels for 30-12-10

R3 6149
R2 6111
R1 6090
AVG 6052
S1 6031
S2 5993
S3 5972

Bank Nifty Dec Futures Levels for 30-12-10

R3 11876
R2 11758
R1 11691
AVG 11573
S1 11506
S2 11388
S3 11321

Mid-Session Outlook-2(29-12-2010)

Following lines were told for today market:-

"As per my view Indian markets are well prepared for upmoves and sustaining above 6040 will be confirmation of next rally. Expected that rally will begin today and nifty will cross as well as sustain above 6040 now. Green closing after positive opening expected today"

Nifty is trading above 6040 with intraday consolidation patterns today therefore it is confirming correction completion within 27 sessions range bound moves and fresh rally as well.

Mid-Session Outlook(29-12-2010)

As Indian markets are trading within resistance ranges therefore under performing Asian markets. Intraday patterns are suggesting consolidations at this moment and expected that resistances will be cleared and fresh upmoves will be seen now after some more buying today and tomorrow.

NIFTY-DEC F&O-1ST BUYING TRADE OF 28-12-2010-COVERING

NIFTY DEC F & O(BOUGHT ON 28-12-2010)-COVER AND BOOK PROFIT IMMEDIATELY-CMP-6033(WE MAY BUY AGAIN BUT FIRST COVER NOW)

Rally above 6000 Expected

Pre-Open Market Outlook(29-12-2010)

Nifty is hovering around 5980-6040 for the last 6 sessions and it has been seen that Nifty traded more than 200 points after breaking out of this range 6 times previously therefore minimum such moves should be expected after its break out.  Meaning on mentioned range break out is as follows:-

1- Breaking down and sustaining below 5980 will mean continuation of correction to test those lower support and fibonacci retracement levels which has already been posted in last 3 sessions outlooks.

2-Breaking out and firstly sustaining above 6040 and then sustaining above will mean correction completion confirmation to test those resistances which have already been posted in last 3 sessions outlooks.

1-6 Times Trend Decider Range- 5980-6040 chart:-

                         (Just click on chart for enlarged view)

Intraday charts showed consolidation patterns immediately after opening yesterday therefore following lines were told after 1st hour yesterday in Mid-session outlook:-

"intraday charts of first hour showed consolidation patterns. Up moves will be considered after sustaining above 6000 today"

Although Nifty could not sustain above 6000 yesterday but intraday charts of yesterday are suggesting whole day consolidation and expected that Nifty will cross and sustain above 6000 today. As good consolidation therefore yesterday intraday range(5988-6005) will proove strong support in the coming sessions.

1- Intaday Buying Patterns on 28-12-2010 chart:-

                              (Just click on chart for enlarged view)

Following technical indicators are also signalling upmoves:-

1- All the short term EMA(8,21,55,200) are above longer term EMA.
2- MACD line is above Average line and both are rising.
3- ROC & RSI- Both are in positive zone.
4- Short term indicators have cooled down in overbought zone.

As per my view Indian markets are well prepared for upmoves and sustaining above 6040 will be confirmation of next rally. Expected that rally will begin today and nifty will cross as well as sustain above 6040 now. Green closing after positive opening expected today.

Trading Levels for 29-12-10

Nifty Spot Levels for 29-12-10

R3 6039
R2 6025
R1 6010
AVG 5996
S1 5981 
S2 5967
S3 5952 

Nifty Dec Futures Levels for 29-12-10

R3 6058
R2 6042 
R1 6028 
AVG 6012
S1 5998
S2 5982
S3 5968

Bank Nifty Dec Futures Levels for 29-12-10

R3 11586 
R2 11548 
R1 11506
AVG 11468
S1 11426
S2 11388
S3 11346

NIFTY-DEC F&O-1ST BUYING TRADE OF 28-12-2010-TRADE

NIFTY(DEC FUT-BUY-POSITIONAL)SL-5987-TGT-6074-CMP-6014

NIFTY(DEC CALL OPTION-BUY-POSITIONAL)-S.P.FOR CALL-6000-NIFTY(DEC FUT)-RATES ARE FOR-SL-5987-TGT-6074 FOR ALL OPTIONS-CMP-6014