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Mid-session Outlook-2(09-05-2011)

Sharp declines immediately after opening today but bearish views were not never posted and on the contrary cleatly told that view is not Bearish and also told that intraday patterns are suggesting consolidations

My trading hours statements are as followd:-

Following line was told at 10:02:00 AM today:-

trading in Red since opening today but view is not Bearish.

Following line was told at 10:41:00 AM today:-

Steep fall today low is at 5502. View will be bearish below 5500

Following line was told at 12:50:00 PM today:-

Nifty is trading in Red for the last 3 hours but intraday patterns are suggesting consolidations

Sharp recovery and Nifty is more that quarter pct up at this moment and Nifty is above 5560 and if sustains then upside break out confirmations.

Mid-session Outlook(09-05-2011)

Following lines were told in Weekly and same views were expressed in all the outlooks written for today and this week trading;-

"It is very much clear from Nifty-Micro Analysis of 3 Days Intra Day Charts(04-05-2011 to 06-05-2011) that 3 sessions most time trading range is 5500-5560 and intraday patterns within this range are mixed, Nifty will first trade in next week within or little above/below mentioned range and prepare for next moves"

When Nifty was trading near today lows then also following lines were told:-

"Steep fall today low is at 5502. View will be bearish below 5500"

Nifty is trading in Red for the last 3 hours but intraday patterns are suggesting consolidations. Confirmation levels(5500-5560) should be watched for next moves condiemations.

Post-open Outlook-2(09-05-2011)

Indian markets are slipping sharply from higher levels immediately and trading in Red since opening today but view is not Bearish and will be bearish after confirmations and sustaining below 5500. Steep fall today low is at 5502. View will be bearish below 5500 and in that situation next target will be 5178.

Post-open Outlook(09-05-2011)

Indian markets underperformed global markets after positive closing today. Following lines were told in all the outlooks for today trading:-

"3 sessions most time trading range is 5500-5560 and intraday patterns within this range are mixed, Nifty will first trade in next week within or little above/below mentioned range and prepare for next moves"

As told above again and again and same is being seen immediately after opening today and Nifty is trading between 5500-5560. Let market prepare for next moves and confirmarion will be break out and sustaining beyond 5500-5560. Conclusions from Micro Analysis of today Intra Day Charts will be posted after next moves confirmations.

Although Indian markets slipped from higher levels immediately after opening and trading in Red since opening today but view is not Bearish.

Pre-Open Market Outlook(09-05-2011

Technicals and conclusions for coming week markets have already been explained in details in following 4 topics therefore not being repeated:-

1- Weekly Outlook(09-05-2011 to 13-05-2011)
2- Nifty-Micro Analysis of Intra Day Charts
3- Weekly Chart Analysis
4- Trend Decider Pennant Pattern

As last 3 sessions narrow range market(5500-5560) therefore its break out and sustaining beyond will certainly be crucial development and 5% decisive moves will be expected in the direction of break out side.

Global markets and US Futures are in Green and sentiment is positive today morning therefore expected that Nifty will first trade between 5560-5600. Nifty sustaining above 5560 today will be up side break out strong indication and rally confirmation will be sustaining above 200 Day EMA.

Positive closing expected today after Green opening and most of the time positive zone trading.

Weekly Outlook(09-05-2011 to 13-05-2011)

Technicals of Indian markets have already been posted in following 3 topics therefore just click following topics and understand Indian markets:-

1- Nifty-Micro Analysis of Intra Day Charts
2- Weekly Chart Analysis
3- Trend Decider Pennant Pattern

Conclusions (After Putting All Studies Together)

All Bullish barriers have been broken down in last 7 sessions sharp down moves. All trends are down and 200 Day EMA has been broken down as well. 5th impulsive wave is on within continuation Pennant Pattern formations. Nifty is hovering around at lower levels existing Rising trend line of Pennant for the last 3 sessions with low at 5444 and high at 5579. Until complete consolidation will not happen till then market will not reverse. Firstly complete consolidations and after that sustaining above minimum one resistance is must for an up move confirmations. Nifty traded most of the time with mixed trading patterns between 5500-5560 in last 3 sessions,break out and sustaining beyond this range will give following confirmations:-

1- Nove below 5500 will be first indication and sustaing below 5444 will be bear market confirmation and in that situation 5178 will be possible.

2- Move above 5560/5579 will be up trend indication and confirmation will be sustaining above 200 Day EMA(5629),it will mean range bound Indian markets between 5444-5944

It is very much clear from Nifty-Micro Analysis of 3 Days Intra Day Charts(04-05-2011 to 06-05-2011) that 3 sessions most time trading range is 5500-5560 and intraday patterns within this range are mixed, Nifty will first trade in next week within or little above/below mentioned range and prepare for next moves. Break out implications of mentioned range have already been discussed above.

Finally break out,sustaining above 5560 and Green weekly closing expected in the coming week but precautionally sustaining beyond 5500-5560 will be watched for safety.