Fibonacci Retracement Levels

Rally begun on 11-02-2011 from 5177
Correction of this rally begun on 06-04-2011 from 5944

Fibonacci Retracement Levels of on going correction are as follows:-


13.0%- 5844
23.6%- 5762
27.0%- 5736
38.2%- 5651
50.0%- 5560
61.8%- 5469
70.7%- 5401
76.4%- 5358
78.6%- 5341
88.6%- 5264

Micro-Analysis of Nifty Intra Day Charts(08-04-2011)

Just click on chart for its enlarged view

1- Selling between 5855-5875
2- Down Move in Falling Channel
3- Slow Down Move without Force
4- Intra day last hour consolidation between 5823-5842

Last 3 days range broken down after intraday selling but breaking down is without force in falling channel and last hour intra day consolidation seen between 5823-5842.

Conclusion
Correction is confirm on but breaking down move was without force therefore it is an indication of early correction completion but market require confirmations. Firstly complete consolidation and then crossing of immediate resistance will be first corretion completion confirmation.

FII Trading Data in Derivatives Segment on 08-Apr-2011

Nifty Spot-Levels & Trading Strategy for 11-04-2011

Nifty Spot-Levels

R3 6008
R2 5967
R1 5904
Avg 5863
S1 5800
S2 5759
S3 5696

Nifty Spot-Trading Strategy

H6 5946     Trgt 2
H5 5922     Trgt 1
H4 5899     Long breakout
H3 5870     Go Short
H2 5861
H1 5851
L1 5832
L2 5822
L3 5813     Long
L4 5784     Short Breakout
L5 5761     Trgt 1
L6 5737     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 11-04-2011

Nifty(Apr Fut)-Levels

R3 6006
R2 5966
R1 5910
Avg 5870
S1 5814
S2 5774
S3 5718

Nifty(Apr Fut)-Trading Strategy

H6 5950     Trgt 2
H5 5928     Trgt 1
H4 5906     Long breakout
H3 5880     Go Short
H2 5871
H1 5862
L1 5845
L2 5836
L3 5827     Long
L4 5801     Short Breakout
L5 5779     Trgt 1
L6 5757     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 11-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12069
R2 11979
R1 11845
Avg 11755
S1 11621
S2 11531
S3 11397

Bank Nifty(Apr Fut)-Trading Strategy

H6 11935     Trgt 2
H5 11885     Trgt 1
H4 11834     Long breakout
H3 11772     Go Short
H2 11752
H1 11731
L1 11690
L2 11669
L3 11649     Long
L4 11587    Short Breakout
L5 11536     Trgt 1
L6 11486     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(11 Apr to 15-04-2011)

Nifty Spot-Weekly Levels

R3 6038
R2 5991
R1 5916
Avg 5869
S1 5794
S2 5747
S3 5672

Nifty Spot-Weekly Trading Strategy

H6 5964     Trgt 2
H5 5936     Trgt 1
H4 5909     Long breakout
H3 5875     Go Short
H2 5864
H1 5853
L1 5830
L2 5819
L3 5808     Long
L4 5774     Short Breakout
L5 5747     Trgt 1
L6 5719     Trgt 2

FII & DII trading activity in Capital Market Segment on 08-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 08-Apr-2011 2688.69 2303.84 384.85

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 08-Apr-2011 982.97 1111.37 -128.4

Pre-closing Outlook(08-04-2011)

Nifty slipped below 5857 after today fresh selling between 5857-5870 but down move is without force and last one hour move is giving intra day support signals between 5825-5840. Correction is on and its completion signals not generated yet.

Mid-session Outlook(08-04-2011)

Nifty traded 3 days between 5855-5945 and technical positions within this range has already been explained in 3 previous outlooks. Certainly Indian markets under performed Asian markets,slipped sharply in first hour,moved below 5855 but not sustained below 5855 also and trading between 5943-5870. It means market has not given breaking down confirmation yet despite slipping below lower levels.

5857-5870 was base formation range of 05-04-2011 and Nifty is trading betwen this range after 1st hour slipping. Breaking out conclusions of this range will be as folluws:-

1- Sustaining above 5870 will mean revival of up move hopes and testing possibility of levels up to 5945.

2- Sustaining below 5857 will mean deeper correction.

 

Although 5855 broken down today but confirmation required and final view should be formed according to break out of 5843-5870

Post-open Outlook(08-04-2011)

Although all the Asian markets turned positive after flat opening and sentiment improved but Indian markets slips from day's higher levels and trading in Red because correction is on.

Confirmation levels have already been expressed in 2 previous outlooks therefore final conclusions will be drawn according to that. Nifty is trading at 5859 and today low is at 5855.40. Sustaining below 5855 will mean certain deeper correction.

Pre-Open Market Outlook(08-04-2011)

Following line was told in Post-closing Report(25-03-2011) & Monday Outlook:-

"21st March 2011 started rally minimum target is 5911"

More than 10 times only 5900 was told after above line and rally halted exactly at 5900 and Nifty is hovering it around for the last 3 days.

Sentiment were heated,Indicators were overbought and 596 points rally seen in 12 sessions therefore correction was natural and being seen for the last 3 days. Market may correct in narrow range or little deeper down moves and it will be decided through last 3 days broader range(5855-5945). Next moves after break out of last 3 days range(5855-5945) will be as follows:-

1- Crossing and sustaining above 5945 will mean 6120 fast
2- Slipping and sustaining below 5855 will mean deeper correction.

Market is not prepared for any side moves and will take its own time in this process. Global cues are quiet today morning and Nifty will trade first within 5870-5915. Technical positions within both ranges have alreay been discussed yesterday in "Post-closing Report(07-04-2011) & Tomorrow Outlook" and not being repeated today.

As I told in last 3 days same is repeating today that let market prepare then final conclusions will be drawn from intraday patterns. Last 3 days closing is also almost flat without much gains or loss. Real moves will be seen after break out of mentioned ranges therefore will be better to wait for its happening and next real moves confirmations.

Post-closing Report(07-04-2011) & Tomorrow Outlook

Nifty Candle- Doji(Confusion)
Nifty Intra day trading patterns- Mixed Formations
Nifty trading range- 5867-5906
Consolidation between- 5867-5680
Distribution between- 5888-5905

Whole day narrow range market with intraday supports at lower levels and resistance at higher levels. Mid cap Cap and BSE Small Cap Indices with good gains and positive trading patterns

Put Call Ratio : 1.05

Advances & Declines:

NSE ADVANCES : 1,921
NSE DECLINES : 1,037
BSE ADVANCES : 1,460
BSE DECLINES :   687

Nifty Open Interest Changed Today:-

Nifty- 5800 CE(28APR2011)- +25350(+0.59%)
Nifty- 5800 PE(28APR2011)- +553200(+10.73%)

Nifty- 5900 CE(28APR2011)- +902150(+17.26%)
Nifty- 5900 PE(28APR2011)- +661450(+20.37%)

Nifty- 6000 CE(28APR2011)- +222400(+3.46%)
Nifty- 6000 PE(28APR2011)- -34900(-1.88%)

Closing :-

Nifty- closed at 5,885.70(-6.05 Points & -0.10%)
Sensex- closed at 19,591.18(-21.02 Points & -0.11% )
CNX MIDCAP - closed at 8,419.05(+77.05 Points & +0.92%)
BSE SMALL CAP- closed at 8,897.19(+110.25 Points & +1.25%)

Nifty Intra Day Chart of Today:-

Just click on chart for its enlarged view

Tomorrow(08-04-2011) Outlook


Mixed formations and Indian markets are not prepared for any side decisive moves. Firstly trading between 5870-5910 and sustaining beyond this range will give strong indication of break out side of broader range(5855-5945).
          
Trending market is expected in next week after break out of mentioned last 3 days brodaer range and Nifty will trade within this range tomorrow. .

Trend Deciding Intra Day Ranges

Following Ranges developed in last 3 days intra day charts:-

1- Broader Range and its break out will give next big moves confirmations - 5857-5945

2- Narrow Range and its break out will give first strong indication of next moves- 5870-5915

Just click on chart for its enlarged view

Patterns within above ranges are:-

1- 05-04-2011- Support between- 5857-5870

2- 06-04-2011- Selling between- 5880-5910

3- 07-04-2011- Support between- 5867-5680

                         Selling between- 5888-5905

Next strong moves will be decided from the break out and sustaining beyond above ranges. Indian markets will prepare within mentioned ranges in the same manner as prepared today and break out will generate sharp moves.

FII & DII trading activity in Capital Market Segment on 07-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 07-Apr-2011 2675.95 2455.36 220.59

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 07-Apr-2011 881.68 1093.84 -212.16

FII Trading Data in Derivatives Segment on 07-Apr-2011

Nifty Spot-Levels & Trading Strategy for 08-04-2011

Nifty Spot-Levels

R3 5912
R2 5909
R1 5897
Avg 5894
S1 5882
S2 5879
S3 5867

Nifty Spot-Trading Strategy

H6 5899     Trgt 2
H5 5896     Trgt 1
H4 5893     Long breakout
H3 5889     Go Short
H2 5887
H1 5886
L1 5883
L2 5882
L3 5880     Long
L4 5876    Short Breakout
L5 5873    Trgt 1
L6 5870    Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 08-04-2011

Nifty(Apr Fut)-Levels

R3 5980
R2 5956
R1 5929
Avg 5905
S1 5878
S2 5854
S3 5827

Nifty(Apr Fut)-Trading Strategy

H6 5953     Trgt 2
H5 5941     Trgt 1
H4 5930     Long breakout
H3 5916     Go Short
H2 5911
H1 5906
L1 5897
L2 5892
L3 5887     Long
L4 5873     Short Breakout
L5 5862     Trgt 1
L6 5850     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 08-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12067
R2 11971
R1 11886
Avg 11790
S1 11705
S2 11609
S3 11524

Bank Nifty(Apr Fut)-Trading Strategy

H6 11983     Trgt 2
H5 11942     Trgt 1
H4 11900     Long breakout
H3 11850     Go Short
H2 11834
H1 11817
L1 11784
L2 11767
L3 11751     Long
L4 11701    Short Breakout
L5 11659     Trgt 1
L6 11618     Trgt 2

Pre-closing Outlook(07-04-2011)

Followimg lines were told in Pre-open Outlook today:-

"Firstly trading will be betweeen 5880-5915"

Nifty traded most of the time between mentioned range. Intra day consolidation and support developed between 5867-5680 today and when up moves started then rally confirmation levels(5910) was posted for traders safety in Mid-session Outlook and Nifty reversed without giving rally confirmations.

Market is range bound near 5900 and preparing for decisive big moves within 5855-5945 and selling at higher levels and buying at lower levels seen within this range. Crossing and sustaining above 5945 is expected but final conclusion well be drawn after coming sessions intra day charts analysis.

Mid-session Outlook(07-04-2011)

Intra day consolidation and support developed between 5867-5680 today. Up moves started and first confirmation rally is above 5910