Nifty-Micro Analysis of 10 Days Intra Day Chart(15-04 to 30-04-2011)

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Main Features are as follows

1- Strong resistance between 5860-5912
2- Weak support between 5695-5730
3- Water Fall (Bullish) Pattern in last 3 days down moves.

Fistly trading between mentioned resistance and Support ranges. As good selling at higher levels therefore complete consolidation is required to cross mentioned resistances and follow up selling in the first 2 sessions of next week will mean deeper correction with Intermediate term trend turning down and testing possibility of Rising Support Line of Pennant pattern as well as 200 Day EMA(Today at 5632).

Present market is range bound range between 5695-5944 and follow up moves in the begining of week will decide deeper correction or range bound market but it is conform that market require complete consolidation and that will take its own time in consolidation process.

Weekly Bullish Patterns and Short Term Correction

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Weekly MACD

Most important development 4 week before that MACD line upward intersection of Average line and it is confirmation of rally. Weekly MACD cross over gives confirmation to long trend therefore strong confirmation to up trend 4 weeks before. Both lines started to move up near equilibrium line and MACD line has moved it above therefore it is strong indication of rally.

Short term correction is confirm but Long term trend is up and rally hope is still alive after correction completion due to above mentioned MACD upward cross over.

Continuation pattern Pennant Formation

Long term trend is up and and Weekly chart is showing Pennant pattern formation in its corrective move which is continuation pattern. It means continuation of on going trend because it is not a trend reversal pattern but trend continuation pattern. As on going trend is Bullish therefore its continuation expected after Pennant falling trend line upward intersection.

Short term correction is confirm but Long term trend is up and rally hope is still alive after correction completion and expected that on going corrective movements will be between both lines of Pennant pattern(Falling Trend Line and Rising Support Line).

FII Trading Data in Derivatives Segment on 29-Apr-2011

FII & DII trading activity in Capital Market Segment on 29-Apr-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 29-Apr-2011 3023.81 3713.7 -689.89

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 29-Apr-2011 1230.42 1291.48 -61.06

Pre-closing Outlook(29-04-2011)

Following lines were told in Post-closing Report(28-04-2011) & Tomorrow Outlook yesterday:-

"correction minimum upto 5740. Nifty will not be able to sustain above 5800 in any positive sentiment and will test next Support range 5700-5740 tomorrow."

Following lines were told in Pre-Open Market Outlook(29-04-2011) today at 09:08:00 AM

Nifty moved below 5800 after tripple top and rounding top(Bearish) formations are indicating confirm down moves and expected that Nifty will not be able to move 5800 and will test 5740 in couple of sessions. Testing 5700 possibility can not be rules out in the coming week.

Today low is at 5709 wnich is between support range(5700-5740). Short trem trend is down and intermediate term trend will be down after sustaining below 5700. Nifty moving below 5700 possibility can not be ruled out but sustaining below 5700 will mean down moves from 3 weeks to 3 months.

Mid-session Outlook-2(29-04-2011)

Follow up selling between 5775-5800 today and as a result all those down moves are being seen which have already been told in Post-closing Report yesterday and Pre-Open Market Outlook today

Mid-session Outlook(29-04-2011)

Although view was bearish but market did not showed weakness since opening today and also base formation and intra day support seen between 5765-5775 today. Although up moves require consolidation and will be slow but we don't take risk and covered shorting positions with minor profit.

Today support between 5765-5775 and yesterday selling between 5800-5829 therefore range bound moves expectd betweeen 5775-5800 and today next 2/3 hours trading patterns will tell for next week market.

NIFTY-MAY F&O-1ST SHORTING OF 28-04-2011-COVERING

NIFTY MAY F & O(SHORTED ON 28-04-2011)-COVER IMMEDIATELY-CMP-5801

Pre-Open Market Outlook(29-04-2011)

Technical Positions,today Outlook and next possibilities have already been posted in following topic in my Blog yesterday therefore not being repeated today:-

Post-closing Report(28-04-2011) & Tomorrow Outlook


Nifty moved below 5800 after tripple top and rounding top(Bearish) formations are indicating confirm down moves and expected that Nifty will not be able to move 5800 and will test 5740 in couple of sessions. Testing 5700 possibility can not be rules out in the coming week.

Nifty first expected range is 5750-5780 and exiected that nifty will move below 5750 and close in Red after weak opening.

Post-closing Report(28-04-2011) & Tomorrow Outlook

Main features of today trading are as follows

1- Red Candle
2- Confirm selling between 5800-5826
3- Intraday Distribution Patterns
4- All the indices closed near day's lows.

Ratios:

Nifty Put Call Ratio:0.78
Nifty P/E Ratio(28-04-2011):21.61

Advances &  Declines:

BSE ADVANCES : 1045
BSE DECLINES : 1845
NSE ADVANCES :  437
NSE DECLINES :  978

Nifty Open Interest Changed Today

Nifty- 5700 CE(28MAY2011)- +158350(+17.30%)
Nifty- 5700 PE(28MAY2011)- +528300(+17.18%)

Nifty- 5800 CE(28MAY2011)- +709250(+51.11%)
Nifty- 5800 PE(28MAY2011)- +411750(+17.70%)

Nifty- 5900 CE(28MAY2011)- +662000(+37.49%)
Nifty- 5900 PE(28MAY2011)- -38100(-2.91%)


Closing

Nifty- closed at 5,785.45(-48.45 Points & -0.83%)
Sensex- closed at 19,292.02(-156.67 Points & -0.81% )
CNX MIDCAP - closed at 8,277.80(-61.15 Points & -61.15%)
BSE SMALL CAP- closed at 8,854.08(-42.96 Points & -0.48%)

Nifty-Micro Analysis of 10 Days Intraday Chart:-

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Conclusions from Nifty-Micro Analysis of 10 Days Intraday Chart

1-Resistance between 5874-5912
2-Resistance between 5800-5829
3-Support between 5700-5740

Tomorrow(29-04-2011) Outlook

Today whole day selling between 5800-5826 confirmed correction minimum upto 5740. Nifty will not be able to sustain above 5800 in any positive sentiment and will test next Support range 5700-5740 tomorrow.

Nifty-Micro Analysis of Intra Day Chart(28-04-2011)

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Following line was told within first 15 minutes in Post-open Outlook today

"confirm weakness indication and 5820 will be watched first and below it down move will be considered"

As today opening indicated weakness therefore told immediately and after that only weak market was suggested in all the out;ooks today.

Intraday charts of today also showing selling patterns therefore down moves will be seen in the coming sessions.

FII & DII trading activity in Capital Market Segment on 28-Apr-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 28-Apr-2011 4257.02 5089.61 -832.59

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 28-Apr-2011 1868.83 1336.23 532.6

Nifty Spot-Levels & Trading Strategy for 29-04-2011

Nifty Spot-Levels

R3 5915
R2 5885
R1 5835
Avg 5805
S1 5755
S2 5725
S3 5675

Nifty Spot-Trading Strategy

H6 5865     Trgt 2
H5 5847     Trgt 1
H4 5829     Long breakout
H3 5807     Go Short
H2 5799
H1 5792
L1 5777
L2 5770
L3 5763     Long
L4 5741     Short Breakout
L5 5722     Trgt 1
L6 5704     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 29-04-2011

Nifty(May Fut)-Levels

R3 5937
R2 5909
R1 5859
Avg 5831
S1 5781
S2 5753
S3 5703

Nifty(May Fut)-Trading Strategy

H6 5888     Trgt 2
H5 5870     Trgt 1
H4 5852     Long breakout
H3 5831     Go Short
H2 5824
H1 5817
L1 5802
L2 5795
L3 5788     Long
L4 5767     Short Breakout
L5 5749     Trgt 1
L6 5731     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 29-04-2011

Bank Nifty(May Fut)-Levels

R3 12049
R2 11984
R1 11873
Avg 11808
S1 11697
S2 11632
S3 11521


Bank Nifty(May Fut)-Trading Strategy

H6 11938     Trgt 2
H5 11898     Trgt 1
H4 11858     Long breakout
H3 11810     Go Short
H2 11794
H1 11778
L1 11745
L2 11729
L3 11713     Long
L4 11665     Short Breakout
L5 11625     Trgt 1
L6 11585     Trgt 2

NIFTY-MAY F&O-1ST SELLING OF 28-04-2011-TRADE

NIFTY(MAY FUT-SELL-POSITIONAL)SL-5841-TGT5746-CMP-5812

NIFTY(MAY PUT OPTION-BUY-POSITIONAL)SL-5841-TGT5746-S.P.FOR PUT-5700,5800(MAY FUT-RATES FOR ALL OPTIONS)-CMP-5812

Pre-closing Outlook(28-04-2011)

Nifty has traded more than last 2 hours near 5800 after slipping from higher levels. As intra day charts are showing selling today therefore down moves possibilities are more.

Mid-session Outlook(28-04-2011)

A correction in levels in 2nd paragraph and correct paragraph is as followa:-

Move above 5850 will be consolidation confirmation between mentioned range and show the way toward 5900 and moving below 5800 will be distribution confirmarion between mentioned range and pave the way toward 5700

Nifty is trading at 5817 therefore not much changed.

Mid-session Outlook(28-04-2011)

Resistances near 5900 and support near 5700 and next moves preparation range is 5820-5829. Nifty consolidated between 5820-5829 in last 2 hours yesterday and again trading today within this range for the last 1 hour.

Move above 5850 will be consolidation confirmation between mentioned range and show the way toward 5900 and moving below 5820 will be distribution confirmarion between mentioned range and pave the way toward 5700.

Market is preparing,let it complete process and get next moves confirmations from mentioned levels break out.

Post-open Outlook-2(28-04-2011)

5820 was told for watching within first 15 minutes after weakness indication and Nifty is hovering around 5820. Sustaining below 5820 or forceful breaking down of 5820 will be weakness confirmation toward 5700. It will be better to wait and watch 5820 for next moves confirmations.

Post-open Outlook(28-04-2011)

Indian markets ignored strong global cues and slipped immediately after positive opening and trading between last 2 hours trading range(5820-5850). It is confirm weakness indication and 5820 will be watched first and below it down move will be considered.