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Indian Stock Markets Report(09-05-2011)
Main features of today trading are as follows:-
1- Trading Range 5506-5570
2- Lower level intraday support and base formation between 5507-5530.
3- Flat closing in range bound market.
4- Market followed last 3 sessions range(5500-5560)and traded most time within that range.
Ratios:
Nifty Put Call Ratio: 0.79
Nifty P/E Ratio(06-05-2011): 20.67
Advances & Declines:
BSE ADVANCES : 1281
BSE DECLINES : 1520
NSE ADVANCES : 578
NSE DECLINES : 824
Nifty Open Interest Changed Today:-
Nifty- 5500 CE(28APR2011)- -366000(-9.63%)
Nifty- 5500 PE(28APR2011)- +1310450(+26.97%)
Nifty- 5600 CE(28APR2011)- -96600(-1.86%)
Nifty- 5600 PE(28APR2011)- +367750(+/-00.00%)
Closing :-
Nifty- closed at 5,551.10(-0.35 Points & -0.01%)
Sensex- closed at 18,528.96(+10.15 Points & +0.05% )
CNX MIDCAP - closed at 7,953.75(-11.65 Points & -0.15%)
BSE SMALL CAP- closed at 8,342.80(+0.22 Points & +9.70%)
Nifty Spot-Levels & Trading Strategy for 10-05-2011
R3 5674
R2 5630
R1 5590
Avg 5546
S1 5506
S2 5462
S3 5422
Nifty Spot-Trading Strategy
H6 5635 Trgt 2
H5 5616 Trgt 1
H4 5597 Long breakout
H3 5574 Go Short
H2 5566
H1 5558
L1 5543
L2 5535
L3 5527 Long
L4 5504 Short Breakout
L5 5485 Trgt 1
L6 5466 Trgt 2
Nifty(May Fut)-Levels & Trading Strategy for 10-05-2011
R3 5677
R2 5630
R1 5594
Avg 5547
S1 5511
S2 5464
S3 5428
Nifty(May Fut)-Trading Strategy
H6 5641 Trgt 2
H5 5622 Trgt 1
H4 5603 Long breakout
H3 5580 Go Short
H2 5573
H1 5565
L1 5550
L2 5542
L3 5535 Long
L4 5512 Short Breakout
L5 5493 Trgt 1
L6 5474 Trgt 2
Bank Nifty(May Fut)-Levels & Trading Strategy for 10-05-2011
R3 11522
R2 11381
R1 11232
Avg 11091
S1 10942
S2 10801
S3 10652
Bank Nifty(May Fut)-Trading Strategy
H6 11376 Trgt 2
H5 11309 Trgt 1
H4 11242 Long breakout
H3 11162 Go Short
H2 11136
H1 11109
L1 11056
L2 11029
L3 11003 Long
L4 10923 Short Breakout
L5 10856 Trgt 1
L6 10789 Trgt 2
Pre-closing Outlook(09-05-2011)
Nifty traded most of the time between 5500-5560 and intraday support seen st lower levels between 5507-5530. Last 2 hours trading between 5550-5570 and trading patterns are mixed. Nifty below 5550 will mean 5500-5550 and sustaining above 5570 will be first indication of rally.
Nifty slipped from day's higher levels and trading below 5550 but it is not selling confirmation beyween 5550-5570,as patterns between this range are mixed therefore it will be better to wait for confirmation from sustaining beyond in the coming sessions..
I told for trading between 5500-5560 in all the outlooks for today market and Nifty traded between this range most of the time and also closing within this range today
Intraday support and base formations signals today and sustaining beyond 5550-5570 will be next moves first indications.
Nifty slipped from day's higher levels and trading below 5550 but it is not selling confirmation beyween 5550-5570,as patterns between this range are mixed therefore it will be better to wait for confirmation from sustaining beyond in the coming sessions..
I told for trading between 5500-5560 in all the outlooks for today market and Nifty traded between this range most of the time and also closing within this range today
Intraday support and base formations signals today and sustaining beyond 5550-5570 will be next moves first indications.
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.
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.
"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.
"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.
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.
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.
Trend Decider Pennant Pattern
Pennant Chart
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| Just click on chart for its enlarged view |
Conclusions
Sustaing below 5444 will be bear market confirmation and in that situation 5178 will be possible. Move above 5579 will be up trend indication and confirmation will be sustaining above 200 Day EMA,it will mean range bound Indian markets between 5444-5944
Weekly Chart Analysis
Waves structure and Positive MACD chart
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| Just click on chart for its enlarged view |
Waves structure is showing that 5th impulsive wave is on after 4th wave correction completion.
Weekly MACD
Both lines of MACD are near equalibrium line. MACD line is merginally above Average line and equalibrium line.
Weekly Chart from 03-09-2010 to 06-05-2011
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| Just click on chart for its enlarged view |
1- 5 corrective Waves of Wave-4 has been completed
2- Corrective 4th wave begun on 05-11-2010 from 6338
3- Corrective 4th wave finished on 11-02-2011 at 5178
4- Continuation Pattern Pennant broken down but weekly closing within Pattern
Conclusions
Wave-4 completed its correction in 5 sub-waves and Wave-5 is on. All trends are down and only hope for survival of Bull market is Continuation Pattern Pennant formations. Nifty moved below 5th wave in previous week but closed above it. Wave 5 is Rising trend line of Pennant and Nifty sustaining above it will mean survival of Pennant and with this hope of up trend as well.
As Weekly closing is above Wave-5(Rising trens line of Pennant) therefore Bull market hopes are still existing and sustaining beyond as well as next weekly closing above/below mentioned line will be next moves confirmations.
Nifty-Micro Analysis of Intra Day Charts
Nifty-Micro Analysis of 3 Days Intra Day Charts(04-05-2011 to 06-05-2011)
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| Just click on chart for its enlarged view |
1- Mixed Patterns in last 3 days between 5500-5560
a- 04-05-2011-
1- Intraday Resistance 5532-5546
2- Intraday support 5510-5530
b- 05-05-2011-
1- Genuine selling between 5525-5560
2- Mixed Patterns between 5455-5490
Nifty-Micro Analysis of Intra Day Chart(06-05-2011)
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| Just click on chart for its enlarged view |
Patterns are mixed but conclusions are toward consolidations after using discretion
conclusions from 3 Days Intra Day Charts Analysis
All Bullish barriers have been broken down in last 7 sessions Bearish storm and until complete consolidation will not happen till then market will not reverse. 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 days. Nifty traded between 5500-5560 with trading patterns but conclusion is favouring consolidations.
Last 3 days range is 5500-5560 and its break out will mean:-
1- Nifty crossed 5560 but slipped and closed below it within mentioned range. Nifty crossing and sustaining above 5560 will mean 3 days base formation after 9 days sharp fall but sustaining above 5585 and 200 Day EMA is must for trend reversal and Bull rally.
2- Bear phase is on and fresh seeling in the begining of coming week will lead below 5500 for deep bearish market.
As 3 days narrow range moves therefore will better and safer to watch 5500-5560 and get confirmations from break out in first couple of sessions in next week.
Indian Stock Markets Report(06-05-2011)
1- Long White Candle
2- Strong closing after strong opening
3- All the Indices closed in Green.
Ratios
Nifty Put Call Ratio:0.78
Nifty P/E Ratio(05-05-2011):20.32
Advances & Declines
BSE ADVANCES : 1613
BSE DECLINES : 1198
NSE ADVANCES : 893
NSE DECLINES : 502
Nifty Open Interest Changed Today
Nifty- 5400 CE(28APR2011)- +13150(+0.78%)
Nifty- 5400 PE(28APR2011)- +618700(+11.98%)
Nifty- 5500 CE(28APR2011)- -517650(-11.86%)
Nifty- 5500 PE(28APR2011)- +768000(+18.54%)
Nifty- 5600 CE(28APR2011)- -259850(-4.68%)
Nifty- 5600 PE(28APR2011)- -170800(-4.20%)
Closing
Nifty- closed at 5,551.45(+91.60 Points & +1.68%)
Sensex- closed at 18,518.81(+308.23 Points & +1.69% )
CNX MIDCAP - closed at 7,965.40(+131.95 Points & +1.68%)
BSE SMALL CAP- closed at 8,342.58(+55.51 Points & +0.67%)
FII & DII trading activity in Capital Market Segment on 06-May-2011
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Nifty Spot-Levels & Trading Strategy for 09-05-2011
R3 5678
R2 5621
R1 5586
Avg 5529
S1 5494
S2 5437
S3 5402
Nifty Spot-Trading Strategy
H6 5644 Trgt 2
H5 5622 Trgt 1
H4 5601 Long breakout
H3 5576 Go Short
H2 5567
H1 5559
L1 5542
L2 5534
L3 5525 Long
L4 5500 Short Breakout
L5 5479 Trgt 1
L6 5457 Trgt 2
Nifty(May Fut)-Levels & Trading Strategy for 09-05-2011
R3 5702
R2 5638
R1 5596
Avg 5532
S1 5490
S2 5426
S3 5384
Nifty(May Fut)-Trading Strategy
H6 5662 Trgt 2
H5 5638 Trgt 1
H4 5613 Long breakout
H3 5584 Go Short
H2 5574
H1 5564
L1 5545
L2 5535
L3 5525 Long
L4 5496 Short Breakout
L5 5472 Trgt 1
L6 5447 Trgt 2
Bank Nifty(May Fut)-Levels & Trading Strategy for 09-05-2011
R3 12588
R2 12157
R1 11650
Avg 11219
S1 10712
S2 10281
S3 9774
Bank Nifty(May Fut)-Trading Strategy
H6 12111 Trgt 2
H5 11885 Trgt 1
H4 11658 Long breakout
H3 11400 Go Short
H2 11314
H1 11228
L1 11057
L2 10971
L3 10885 Long
L4 10627 Short Breakout
L5 10400 Trgt 1
L6 10174 Trgt 2
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