Mid-session Outlook(21-04-2011)

Following lines were told for today market

Market will prepare for next week market today
market require some more consolidation to cross following 2 resistances

Nifty firstly traded between 5872-5890,prepared and crossed 5890. It is strong indication of today consolidation and follow up buying.

Post-open Outlook(21-04-2011)

Gap up opening but not strong. Let market prepare for next moves then will be decided acording to intra day patterns formations.

Pre-Open Market Outlook(21-04-2011)

Today Outlook and Technical Positions have already been posted in following topic with 1 Chart yesterday therefore not repeated today:-

Post-closing Report(20-04-2011) & Tomorrow Outlook

Asian markets are equally as strong as US and European markets delivered cues yesrerday and Indian markers will open gap up. Yesterday last one hour Rising Wedge(Bearish Pattern) Formation between 5825-5855 and Nifty will trade within immediate resistance range(5860-5940) therefore fresh consolidation and follow up buying is must to cross mentioned resistance.

Sentiment heated today morning therefore profit booking possibility will also be kept in mind. Indian markets are technically poised for rally above 5940 but market require fresh consolidation and follow up buying within mentioned resistance range. Today trading session is crucial and will react on TCS results during trading hours and will also prepare for next Monday post RIL results market. Following points will be kept in mind today:-

1- TCS results during trading hours today.
2- RIL results after trading hours today.
3- Yesterday last one hour Rising Wedge(Bearish Pattern) Formation between 5825-5855
4- Today trading between resistance range(5860-5940)
5- Sentiment heated today therefore profit booking possibility
6- Next 3 Days holidays.

Market will prepare for next week market today and may be volatile also therefore  first 3/4 hours intraday patterns will be watched and then final conclusion will be drawn and will be posted accordingly. Rally above 5940 is very much possible in next week but today market will also be watched for next immediate move confirmations.

Rally has been Triggered

Post-closing Report(20-04-2011) & Tomorrow Outlook


Main features of today market are as follows


1- Long White Bullish Candle
2- All the indices closed with good gains near day's highest levels.
3- Confirmation of impulsive Sub Wave-G begining.
4- Good consolidation between 5760-5805
5- Rising Wedge(Bearish pattern) between 5825-5855.

Ratios:

Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(19-04-2011):21.65

Advances & Declines:

BSE ADVANCES : 1957
BSE DECLINES :  961
NSE ADVANCES : 1040
NSE DECLINES :  366

Nifty Open Interest Changed Today:-

Nifty- 5800 CE(28APR2011)- -2397300(-33.34%)
Nifty- 5800 PE(28APR2011)- +2133750(+43.39%)

Nifty- 5900 CE(28APR2011)- -568800(-7.79%)
Nifty- 5900 PE(28APR2011)- +2414500(+93.04%)

Closing :-

Nifty- closed at 5,851.65(+110.90 Points & +1.93%)
Sensex- closed at 19,470.98(+349.15 Points & +1.83% )
CNX MIDCAP - closed at 8,304.90(+100.15 Points & +1.22%)
BSE SMALL CAP- closed at 8,875.80(+113.15 Points & +1.29%)

Nifty-Micro Analysis of Intra Day Chart(20-04-2011):-

Just click on chart for its enlarged view

Tomorrow(21-04-2011) Outlook

Following 3 Bullish confirmations today:-

1- 'ABC' correction completion.
2- Sub Wave-F support at 38.2% retracement level.
3- Impulsive Sub Wave-G begining has confirmed.

Rally was confirmed yesterday on the basis of intra day base formations and lower levels support and since then only views were posted in all the outlooks. Intra day patterns of today  have already been discussed in Nifty-Micro Analysis of Intra Day Chart and market require some more consolidation to cross following 2 resistances:-

1- 5860-5900
2- 5910-5940

As bullish rally is on therefore higher level consolidation is very much possible in the coming sessions and after that sharp rally will be seen after sustaining above 5640 and once sustaining above 5940 will mean 6120 fast.

Only watch sustaining above 5940 for sharp rally confirmation. As Sub Wave-F has completed correction at 38.2% retracement level yesterday therefore consolidation near about above mentioned resistances and rally above 5940 expected in the coming sessions.

Rally has been Triggered and sustaining above 5940 is last formality. 

FII Trading Data in Derivatives Segment on 20-Apr-2011

Nifty-Micro Analysis of Intra Day Chart(20-04-2011)

Just click on chart for its enlarged view

Consolidation between 5760-5805 after gap up opening. As sentiment was heated therefore intraday panic bottom was seen in consolidation process. Last one hour Rising Wedge(Bearish Pattern) Formation between 5825-5855 therefore initial hours watching is required but Bullish rally is on and in Bullish rally higher levels consolidation possibility remains high. Until follow up selling will not develop till then any down move will not be seen.

FII & DII trading activity in Capital Market Segment on 20-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 20-Apr-2011 2473.17 2280.17 193

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 20-Apr-2011 993.17 1016.45 -23.27

Nifty(Apr Fut)-Levels & Trading Strategy for 21-04-2011

Nifty(Apr Fut)-Levels

R3 5882
R2 5878
R1 5874
Avg 5870
S1 5866
S2 5862
S3 5858

Nifty(Apr Fut)-Trading Strategy

H6 5878   Trgt 2
H5 5876   Trgt 1
H4 5874   Long breakout
H3 5872    Go Short
H2 5871
H1 5870
L1 5869
L2 5868
L3 5867    Long
L4 5865    Short Breakout
L5 5863    Trgt 1
L6 5862    Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 21-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12128
R2 11994
R1 11918
Avg 11784
S1 11708
S2 11574
S3 11498

Bank Nifty(Apr Fut)-Trading Strategy

H6 12056     Trgt 2
H5 12007     Trgt 1
H4 11958     Long breakout
H3 11900     Go Short
H2 11881
H1 11862
L1 11823
L2 11804
L3 11785     Long
L4 11727     Short Breakout
L5 11678     Trgt 1
L6 11629     Trgt 2

Nifty Spot-Levels & Trading Strategy for 21-04-2011

Nifty Spot-Levels

R3 5983
R2 5920
R1 5885
Avg 5822
S1 5787
S2 5724
S3 5689

Nifty Spot-Trading Strategy

H6 5950     Trgt 2
H5 5927     Trgt 1
H4 5904     Long breakout
H3 5877     Go Short
H2 5868
H1 5859
L1 5842
L2 5833
L3 5824    Long
L4 5797    Short Breakout
L5 5774     Trgt 1
L6 5751     Trgt 2

Pre-closing Outlook(20-04-2011)

Rally was told well in advance and it is continued. As no change in technicals of Indian markets therefore nothing is new and same bullish views are maintained which have already been explained in all 2 days outlooks.

Mid-session Outlook-2(20-04-2011)

As intra day down move was expected therefore today range lower levels was reduced to 5770 and intra day dip was seen also. It was also told in Mid-session Outlook that :-


"finally up moves are expected after fresh consolidation within mentioned today range"

As told,same happened and Indian markets shoot up. Rally is very much on and it was declared yesterday as well as also has been told in all the out looks from yesterday.

Mid-session Outlook(20-04-2011)

Range bound market(5783-5807) after gap up opening today. Sentiment heated due to strong global cues therefore consolidation expected within range bound moves and range for today is 5770-5810. Intra day charts are not suggesting any clear conclusion at this moment but finally up moves are expected after fresh consolidation within mentioned today range.

Pre-Open Market Outlook(20-04-2011)

Today Rally Possibility,Technical Positions and today Outlook have already been posted in following topic with 1 Chart yesterday therefore not repeated today:-

Post-closing Report(19-04-2011) & Tomorrow Outlook
                        
Following Chart was posted in Weekly Outlook(18-04-2011 to 21-04-2011) anb in that chart Wave-5 Sub Waves were shown:-

1- Wave-5 Sub Waves Chart;-

Just click on chart for its enlarged view

Corrective Sub Wave-F started on 06-04-2011 from 5644 and its completion strong signals yesterday after intra day support at 38.2%(5716) retracemnt level and corrective wave'C' 100% correction of Wave 'A' at 5716 yesterday.

Wave-5 Sub Waves complete structure is as follows:-

1- Sub Wave-E fast 596 points gains in 13 sessions
2- Corrective Sub Wave-F started on 06-04-2011
3- Corrective Sub Wave-F corrected in 'ABC'corrective waves.
4- 'C' completed 100% correction of Wave 'A' at 5716 on 19-04-2011.
5- Corrective Sub Wave-F has completed 38.2%(5716)  correction on 19-04-2011.
6- Correction completion strong and Sub Wave-G begining signals yesterday.

Wave-5 Sub Waves Chart:-

Just click on chart for its enlarged view

Consolidation between 5695-5735 yesterday and sustaining above 5762 is rally confirmation. Global cues are good today morning,Indian markets will open positive and Nifty will first trade between 5770-5800. Continuation of upmoves and positive closing expected today.

Rally on Cards

Post-closing Report(19-04-2011) & Tomorrow Outlook

Main features of today market are as follows

1- Green Candle
2- Confirm consolidation between 5695-5735
3- Most of the indices are showing lower levels consolidations.
4- Sub Wave-F of Wave-5 completed 38.2% correction of Sub Wave-E with lower levels supports.
5- 'C' corrective Leg of Sub Wave-F corrective wave is also completed at 5716 roday.

Ratios:

Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(18-04-2011): 21.66

Advances & Declines:

BSE ADVANCES : 1374
BSE DECLINES : 1509
NSE ADVANCES :  645
NSE DECLINES :  763

Nifty Open Interest Changed Today:-

Nifty- 5700 CE(28APR2011)- +126950(+3.15%)
Nifty- 5700 PE(28APR2011)- +158250(+2.08%)

Nifty- 5800 CE(28APR2011)- +113500(+1.57%)
Nifty- 5800 PE(28APR2011)- +488400(+10.46%)

Nifty- 5900 CE(28APR2011)- +369450(+5.30%)
Nifty- 5900 PE(28APR2011)- -44600(-1.67%)


Closing :-

Nifty- closed at 5,740.75(+11.65 Points & +0.20%)
Sensex- closed at 19,121.83(+30.66 Points & +0.16% )
CNX MIDCAP - closed at 8,204.75(+7.45 Points & +0.09%)
BSE SMALL CAP- closed at 8,762.65(+25.59 Points & +0.29%)

Nifty-Micro Analysis of Intra Day Chart(19-04-2011):-

Just click on chart for its enlarged view

Tomorrow(20-04-2011) Outlook

2 following crucial technical developments today:-

1- Sub Wave-F of Wave-5 completed 38.2% correction of Sub Wave-E with lower levels supports.
2- 'C' corrective Leg of Sub Wave-F corrective wave is also completed at 5716 roday.

Last 2 days following consolidation patterns:-

1- Falling Wedge(Bullish) Pattern on 15-04-2011
2- Water Fall(Bullish) Pattern on 18-04-2011

I told 2 times for support and base formation within 5695-5735  in Mid-session Outlooks and again repeating that keep in mind above technical developments and today intraday support as well as expect  rally.

For precaution telling for watching sustaining above 5762 only.

FII Trading Data in Derivatives Segment on 19-Apr-2011

Nifty-Micro Analysis of Intra Day Chart(19-04-2011)

Just click on chart for its enlarged view

Consolidation and Base formation seen between 5695-5735 today. Minor profit booking at higher levels signals but consolidation patterns in last 2 sessions also therefore Nifty sustaining above 5762 will mean strong rally possibility in the coming sessions.

Nifty Spot-Levels & Trading Strategy for 20-04-2011

Nifty Spot-Levels

R3 5839
R2 5800
R1 5770
Avg 5731
S1 5701
S2 5662
S3 5632                                

Nifty Spot-Trading Strategy

H6 5809     Trgt 2
H5 5793     Trgt 1
H4 5777     Long breakout
H3 5758     Go Short
H2 5752
H1 5746
L1 5733
L2 5727
L3 5721     Long
L4 5702     Short Breakout
L5 5686     Trgt 1
L6 5670     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 20-04-2011

Nifty(Apr Fut)-Levels

5871.00
R2 5826
R1 5793
Avg 5748
S1 5715
S2 5670
S3 5637

Nifty(Apr Fut)-Trading Strategy

H6 5838     Trgt 2
H5 5820    Trgt 1
H4 5802    Long breakout
H3 5781    Go Short
H2 5774
H1 5767
L1 5752
L2 5745
L3 5738     Long
L4 5717     Short Breakout
L5 5699     Trgt 1
L6 5681     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 20-04-2011

Bank Nifty(Apr Fut)-Levels

R3 11863
R2 11769
R1 11700
Avg 11606
S1 11537
S2 11443
S3 11374

Bank Nifty(Apr Fut)-Trading Strategy

H6 11796     Trgt 2
H5 11759     Trgt 1
H4 11721     Long breakout
H3 11676     Go Short
H2 11661
H1 11646
L1 11617
L2 11602
L3 11587     Long
L4 11542     Short Breakout
L5 11504     Trgt 1
L6 11467     Trgt 2

Pre-closing Outlook(19-04-2011)

No change in technical positions therefore views are same which have already been expressed in Mid-session Outlook-2. As supports at lower levels therefore up moves expectations are higher.