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Pre-closing Outlook(25-03-2011)
Following line was told in Pre-Open Market Outlook today
Nifty sustaining above 5600 will mean worst is over and then fast rally toward 5900 will be seen after completion of correction.
Following line was told in Pre-Open Market Outlook today
5580 was told trend decider and Nifty is trading a little below since opening today. 1st two hours Intra Day charts are suggesting consolidations and possibility of rally above 5600 turns higher.
Conclusions-
1- Correction started from Diwali 2010.
2- Correction has been completed in 40 sessions range bound moves.
3- Rally started today toward minimum 5900.
(Detailed analysis will be posted in "Post-closing Report(25-03-2011) & Tomorrow Outlook" today and in "weekly" in next 2 days)
Mid-session Outlook-2(25-03-2011)
When Nifty was trading below 5580 then following line was told today:-
1st two hours Intra Day charts are suggesting consolidations and possibility of rally above 5600 turns higher.
Intraday high formed at 5625.25 today
Break out and rally expected above 5600 now.
Mid-session Outlook(25-03-2011)
5580 was told trend decider and Nifty is trading a little below since opening today. 1st two hours Intra Day charts are suggesting consolidations and possibility of rally above 5600 turns higher.
Next rally confirmation point left is only crossing and sustaining above 5580.
Next rally confirmation point left is only crossing and sustaining above 5580.
5580 is Strong Rally Decider
Pre-Open Market Outlook(25-03-2011)
Technical positions,Supports,Resistances,F&O data and levels have already been discussed in "Post-closing Report(24-03-2011) & Tomorrow Outlook" yesterday therefore not being repeated today.
US markets closed with good gains yesterday and all the Asian markets are positive today morning,sentiment strong therefore positive opening and Nifty will first hover around 5550 and in the begining. Nifty will trade in last resistance range(5540-5580) and today follow up buying and consolidation will give confirmation to yesterday buying and consolidation.
Following lines were told in yesterday Pre-Open Outlook that
"Pennant formation in EOD chart and its break out will give first strong indication of next Indian markets moves and confirmation points will be sustaining beyong 5400 or 5600."
1- Pennant up side break out in EOD Chart:-
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| Just click on chart for its enlarged view |
Pennant up side break out seen yesterday and if Nifty sustains above trend line then it will be strong indication of rally and then market above 5600 will be expected.
Indian markets will participate Global markets rally after gap up opening and will trade in last resistance range today. Nifty retraced 2 times from 5600 in last 2 months therefore today intraday consolidation is must. Nifty sustaining above 5600 will mean worst is over and then fast rally toward 5900 will be seen after completion of correction.
Bullish sentiment is high and only cautious approach is required at the top of last 2 months range. Today consolidation and sustaining above 5580 will pave the way of Indian mrkets strong rally toward minimum 5900.
Post-closing Report(24-03-2011) & Tomorrow Outlook
Gap up opening,whole day trading within resistance range(5500-5535) and closing near the top of the day today. Nifty intraday charts of today is indicating some selling signals and pivotal stocks are showing also mixed patterns. I mean to say that some stocks are showing clear buying formations and some are showing selling formations also.
Nifty F&O data of today as follows
Put Call Ratio- 1.17
Open Interest Changed Today
Nifty- 5500 CE(31MAR2011)- -163600(-2.65%)
Nifty- 5500 PE(31MAR2011)- +1311650(+22.07%)
Nifty- 5600 CE(31MAR2011)- -251400(-3.7300%)
Nifty- 5600 PE(31MAR2011)- +990100(+59.61%)
Today Closing
Sensex- closed at 18350.74(+144.58 Points & +0.79% )
Nifty- closed at 5522.40(+42.15 Points & +0.77%%)
CNX MIDCAP - closed at 7,747.20(+46.10 Points & +0.60%)
BSE SMALL CAP- closed at 7868.13(+52.71 Points & +0.67%)
Nifty Intra Day Chart of Today:-
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| Just click on chart for its enlarged view |
Immediate Resistances are as follows:-
1- 5500-5535
2- 5540-5580
It seems that global markets have discounted all the bad news of last one month and started to recover and Indian markets are also following suit. Intraday charts of today are showing mixed patterns and Nifty PUT options positions building today are suggesting follow up buying and more consolidations requirements for sustained up moves because next and strong resistance range is just above today trading range.
Nifty has retraced from 5600 earlier and complete consolidations require in the coming sessions between 5500-5580 for sustained rally above 5600. Let clear signals develop and intraday charts show buying patterns then moves above 5600 will get confirmations.
Next move indication range is 5500-5580. Just watch sustaining beyond this range for next moves confirmations.
FII & DII trading activity in Capital Market Segment on 24-Mar-2011
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Nifty Spot-Levels & Trading Strategy for 25-03-2011
R3 5568
R2 5548
R1 5535
Avg 5515
S1 5502
S2 5482
S3 5469
Nifty Spot-Trading Strategy
H6 5555 Trgt 2
H5 5547 Trgt 1
H4 5540 Long breakout
H3 5531 Go Short
H2 5528
H1 5525
L1 5518
L2 5515
L3 5512 Long
L4 5503 Short Breakout
L5 5496 Trgt 1
L6 5488 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 25-03-2011
R3 5605
R2 5579
R1 5562
Avg 5536
S1 5519
S2 5493
S3 5476
Nifty(Mar Fut)-Trading Strategy
H6 5588 Trgt 2
H5 5578 Trgt 1
H4 5568 Long breakout
H3 5556 Go Short
H2 5552
H1 5548
L1 5541
L2 5537
L3 5533 Long
L4 5521 Short Breakout
L5 5511 Trgt 1
L6 5501 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 25-03-2011
R3 11307
R2 11221
R1 11172
Avg 11086
S1 11037
S2 10951
S3 10902
Bank Nifty(Mar Fut)-Trading Strategy
H6 11259 Trgt 2
H5 11228 Trgt 1
H4 11197 Long breakout
H3 11160 Go Short
H2 11147
H1 11135
L1 11110
L2 11098
L3 11085 Long
L4 11048 Short Breakout
L5 11017 Trgt 1
L6 10986 Trgt 2
India's food inflation at 10.05 pct y/y on March 12-govt
India's food price index rose 10.05 percent and the fuel price index climbed 12.79 percent in the year to March 12, government data on Thursday showed.
In the previous week, annual food and fuel inflation stood at 9.42 percent and 12.79 percent.
The primary articles price index was up 13.53 percent, compared with an annual rise of 12.31 percent a week earlier.
The wholesale price index-based inflation , the most widely watched gauge of prices in India , unexpectedly quickened an annual 8.31 percent in February from 8.23 percent in January.
In the previous week, annual food and fuel inflation stood at 9.42 percent and 12.79 percent.
The primary articles price index was up 13.53 percent, compared with an annual rise of 12.31 percent a week earlier.
The wholesale price index-based inflation , the most widely watched gauge of prices in India , unexpectedly quickened an annual 8.31 percent in February from 8.23 percent in January.
Mid-session Outlook(24-03-2011)
Global markets are strong,Sentiment is heated and Nifty is trading within next resistance range(5500-5535) after gap up opening today. As sentiment is heated therefore profit booking possibility should also be kept in mind and next move final conclusion should be drawn after break out of mentioned resistance range.
Post-open Outlook(24-03-2011)
Nifty forcefully entered and trading within resistance range 5500-5535, Follow up buying and Consolidation required within this range today,its confirmation and first strong up move indication will come above 5535..
Pre-Open Market Outlook(24-03-2011)
Pennant formation in EOD chart and its break out will give first strong indication of next Indian markets moves and confirmation points will be sustaining beyong 5400 or 5600.
1- EOD chartshowing Pennant Pattern:-
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| Just click on chart for its enlarged view |
Technical positions,Supports,Resistances and levels have already been discussed in "Post-closing Report(23-03-2011) & Tomorrow Outlook" therefore not being repeated today.
Next moves deciding range is 5455-5535. Immediate resistances above 5500 and immediate supports below 5500 also. Nifty will hover around 5500,prepare for next moves and sustaining above or below will be next moves first indication. Let market prepare for next moves and get first indication after crossing of 5455-5535.
Post-closing Report(23-03-2011) & Tomorrow Outlook
Long Term and Intermediate term trends are down and Short term trend turned up after good gains today. Nifty traded most of the time between 5455-5475 in rising channel with intraday consolidation patterns today and If sustains above it tomorrow then today trading range will be good support.
Nifty Intra Day Chart of Today:-
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| Just click on chart for its enlarged view |
-Nifty closed at 5480.25 with 66.40 (1.23%) points up today.
Tomorrow(24-03-2011) Outlook:-
Next immediate Resistances are as follows:-
1- 5500-5535
2- 5540-5580
Nifty has to cross immediate resistance above 5500 therefore require fresh consolidation near 5500 tomorrow and Nifty will first hover around it. Nifty traded most days between 5400-5600 in last 38 sessions and Indian markets have to prepare for its crossing. Nifty will trade in the middle of this range near 5500 tomorrow with good resistances at higher levels and also equally good supports at lower levels.
Next move preperation range is 5455-5535 and expected that Nifty will trade whole day within this range tomorrow. Next Indian markets will be decided step by step and crossing of supports or resistances and finally sustaining beyond 5400-5600 will give next moves confirmations. 5400 proved strong support in worst situations and sentiments and things are turning normal. If Middle-East normalise and Crude price stabilise then 5600 crosing will be seen.
Let market prepare for next moves and get first indication after crossing of 5455-5535
FII & DII trading activity in Capital Market Segment on 23-Mar-2011
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Nifty Spot-Levels & Trading Strategy for 24-03-2011
Nifty Spot-Levels
R3 5592
R2 5538
R1 5509
Avg 5455
S1 5426
S2 5372
S3 5343
Nifty Spot-Trading Strategy
H6 5564 Trgt 2
H5 5544 Trgt 1
H4 5525 Long breakout
H3 5502 Go Short
H2 5495
H1 5487
L1 5472
L2 5464
L3 5457 Long
L4 5434 Short Breakout
L5 5415 Trgt 1
L6 5395 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 24-03-2011
Nifty(Mar Fut)-Levels
R3 5620
R2 5562
R1 5531
Avg 5473
S1 5442
S2 5384
S3 5353
Nifty(Mar Fut)-Trading Strategy
H6 5590 Trgt 2
H5 5569 Trgt 1
H4 5548 Long breakout
H3 5524 Go Short
H2 5516
H1 5508
L1 5491
L2 5483
L3 5475 Long
L4 5451 Short Breakout
L5 5430 Trgt 1
L6 5409 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 24-03-2011
Bank Nifty(Mar Fut)-Levels
R3 5207
R2 2054
R1 4466
Avg 7619
S1 14139
S2 17292
S3 23812
Bank Nifty(Mar Fut)-Trading Strategy
H6 11217 Trgt 2
H5 11164 Trgt 1
H4 11110 Long breakout
H3 11048 Go Short
H2 11027
H1 11006
L1 10965
L2 10944
L3 10923 Long
L4 10861 Short Breakout
L5 10807 Trgt 1
L6 10754 Trgt 2
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