Bank Nifty(May Fut)-Levels & Trading Strategy for 25-05-2011

Bank Nifty(May Fut)-Levels

R3 10713
R2 10617
R1 10522
Avg 10426
S1 10331
S2 10235
S3 10140

Bank Nifty(May Fut)-Trading Strategy

H6 10620     Trgt 2
H5 10576     Trgt 1
H4 10533     Long breakout
H3 10480     Go Short
H2 10463
H1 10445
L1 10410
L2 10392
L3 10375     Long
L4 10322     Short Breakout
L5 10279     Trgt 1
L6 10235     Trgt 2

FII & DII trading activity in Capital Market Segment on 24-May-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 24-May-2011 2539.94 2351.78 188.16

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 24-May-2011 778.17 745.22 32.95

Pre-closing Outlook(24-05-2011)

Only trading between 5375-5400 was told and no other projection was given for today market and whole day Nifty hover around this range within 5367-5422 like a romantc youth and also will close within this range.

Following lines were told today in Post-open Outlook(24-05-2011)

First half hour intraday charts did not showed selling patterns today and indications of consolidations patterns also

Today intraday Patterns showed consolidations.

Mid-session Outlook(24-05-2011)

Nifty traded and hovered around 5375-5400 in first 3 hours of today trading. Following lines and this range break out implications have already been told were told in 3 previous outlooks:-

When Dow's Futures was more than 150 points down and Indian markets were trading near day's lows.Sentiment was completely deepressed then bearish views were not expressed and following lines were told in Pre-closing Outlook yesterday:-

"Nifty is trading between 5375-5400 for the last 3 hours and dipping below 4375 will mean begining of deep down and sustaining above 5400 will mean survival of bullush markets hopes."

When US markets were more than 1% down then also bearish views were not expressed and following lines were told in Nifty-Micro Analysis of Intra Day Chart yesterday:-

"As today down moves were the impact of crashing global markets therefore clear selling patterns are required below 5402 for Bearish markets confirmations. Nifty traded last 3 hours between 5375-5400 but patterns are mixed and if Nifty sustains below 5375 tomorrow then deep down will be seen"

Following line was told in Pre-open Outlook today :-

"Sustaining beyond 5375-5400 will be next move decider and will be watched first for next moves confirmations"

Post-open Outlook(24-05-2011)

Nifty traded with mixed intraday patterns between 5375-5400 for the last 3 hours yesterday and in previous 3 outlooks watching of this range and implications of this range was told. Nifty traded most of the time within mentioned range since opening today. First half hour intraday charts did not showed selling patterns today and indications of consolidations patterns also therefore 5375-5418 will be watched for next moves confirmations.

Pre-open Outlook(24-05-2011)

Technical Positions and next possibilities have already been posted in following topic with 7 charts yesterday therefore not repeated today:-

1-Nifty-Micro Analysis of Intra Day Chart(23-05-2011)
2-Weekly Outlook(May 23 to May 27,2011)

US markets closed more then 1% down yesterday but Asian markets are almost flat therefore sentiment is quiet and Indian markets opening will be almost flat.

All trends are down and all the technical indicators are suggesting Bearish markets. Last confirmation point is sustaining below 5444. Nifty traded whole day below it yesterday and also moved bolow strong support(5402).

As yesterday down moves were the impact of crashing global markets therefore clear selling patterns are required below 5402 for Bearish markets confirmations. Nifty traded last 3 hours between 5375-5400 yesterday but patterns were mixed and if Nifty sustains below 5375 today then it will be bear market confirmation and in that situation Indian markets will be deep down. Sustaining above 5400 will mean alive of Bullish markets expectations and crossing 5444 will be sigh of releaf of Bulls.

Sustaining beyond 5375-5400 will be next move decider and will be watched first for next moves confirmations.

Nifty-Micro Analysis of Intra Day Chart(23-05-2011)

Nifty- Intra Day Chart(23-05-2011):-

Just click on chart for its enlarged view

Main Features

1- Selling between 5418-5436
2- Last 3 hours mixed patterns between 5375-5400

Conclusions

All trends are down and all the technical indicators are suggesting Bearish markets. Last confirmation point is sustaining below 5444. Nifty traded whole day below it and also moved bolow strong support(5402).

As today down moves were the impact of crashing global markets therefore clear selling patterns are required below 5402 for Bearish markets confirmations. Nifty traded last 3 hours between 5375-5400 but patterns are mixed and if Nifty sustains below 5375 tomorrow then deep down will be seen.

FII Trading Data in Derivatives Segment on 23-May-2011

FII & DII trading activity in Capital Market Segment on 23-May-2011

FII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 23-May-2011 1959.21 2252.77 -293.56

DII trading activity on NSE and BSE in Capital Mayket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 23-May-2011 1070 875.78 194.22

Indian Stock Markets Closing Reports(23-05-2011)

Main features of today trading are as follows

1- Global cues led deep Red closing today.
2- Nifty traded more than 3 hours below 5400.
3- All the Indices closed in Red except FMCG and CD.

Ratios

Nifty Put Call Ratio: 0.91
Nifty P/E Ratio(20-05-2011): 20.34

Advances & Declines

BSE ADVANCES : 813
BSE DECLINES : 1976
NSE ADVANCES : 252
NSE DECLINES : 41

Nifty Open Interest Changed Today

Nifty- 5300 CE(26-05-2011)- +1096650(+442.73%)
Nifty- 5300 PE(26-05-2011)- +595250(+9.80%)

Nifty- 5400 CE(26-05-2011)- +2919000(+76.16%)
Nifty- 5400 PE(26-05-2011)- -1014600(-12.74%)

Nifty- 5500 CE(26-05-2011)- +1030400(+15.64%)
Nifty- 5500 PE(26-05-2011)- -1167050(-20.86%)

Closing

Nifty- closed at 5,386.55(-99.80 Points & -1.82%%)
Sensex- closed at 17,993.33(-332.76 Points & -1.82% )
CNX MIDCAP - closed at 7,774.15 (-99.00 Points & -1.26%)
BSE SMALL CAP- closed at 8,057.02(-128.16 Points & -1.57%)

Nifty Spot-Levels & Trading Strategy for 24-05-2011

Nifty Spot-Levels


R3 5520
R2 5488
R1 5437
Avg 5405
S1 5354
S2 5322
S3 5271


Nifty Spot-Trading Strategy

H6   5469   Trgt 2
H5   5450   Trgt 1
H4   5431   Long breakout
H3   5408   Go Short
H2   5401
H1   5393
L1   5378
L2   5370
L3   5363   Long
L4   5340   Short Breakout
L5   5321   Trgt 1
L6   5302   Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 24-05-2011

Bank Nifty(May Fut)-Levels

R3 10797
R2 10698
R1 10528
Avg 10429
S1 10259
S2 10160
S3 9990

Bank Nifty(May Fut)-Trading Strategy

H6 10627 Trgt 2
H5 10566 Trgt 1
H4 10505 Long breakout
H3 10431 Go Short
H2 10407
H1 10382
L1 10333
L2 10308
L3 10284 Long
L4 10210 Short Breakout
L5 10149 Trgt 1
L6 10088 Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 24-05-2011

Nifty(May Fut)-Levels

R3 5501
R2 5470
R1 5426
Avg 5395
S1 5351
S2 5320
S3 5276

Nifty(May Fut)-Trading Strategy

H6  5458   Trgt 2
H5  5441    Trgt 1
H4  5424    Long breakout
H3  5403    Go Short
H2  5396
H1  5389
L1  5376
L2  5369
L3  5362    Long
L4  5341    Short Breakout
L5  5324    Trgt 1
L6  5307    Trgt 2

Pre-closing Outlook(23-05-2011)

Dow's Futures is more than 150 points down today therefore sentiment is depressed and all the Asian markets closed in deep Red today.Indian markets are could not survived and Nifty slipped and trading below 5400 also.

As soon as selling started to develop then it was informed and following line was clearly  told at 09:52 AM today in Post-open Outlook(23-05-2011):-

"Weak opening and first half hour intraday charts selling patterns"

As sentiment is news based and completely depressed therefore sustaining below 5400 require more confirmations. Nifty is trading between 5375-5400 for the last 3 hours and dipping below 4375 will mean begining of deep down and sustaining above 5400 will mean survival of bullush markets hopes.

Post-open Outlook-2(23-05-2011)

Today weak opening and first hour trading between 5419-5436 with first half hour selling patterns. Strong support range is 5402-5431 and Nifty is trading within and little above this range. Although first half hour intraday sellng patterns but market requires complete selling patterns for Nifty below 5400.

As today weakness is global cues based,sentiment is extremely deprssed therefore voltality may also be seen. Sometimes markets get support in today like depressed sentiments therefore sustaining beyond 5400-5440  will be watched for next immediate move confirmations.

Let market prepare and intraday charts mature for next moves then final conclusions will be drawn.

Post-open Outlook(23-05-2011)

Weak opening and first half hour intraday charts selling patterns.

Pre-open Outlook(23-05-2011)

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

"Weekly Outlook(May 23 to May 27,2011)"

Dow's Futures is more than 80 points down today and  US markets closed  weak last Friday therefore sentiment is depressed and all the Asian markets are in deep Red today morning. Indian markets are already range bound with strong support between 5402-5431 and good selling at higher levels also therefore weak opening and firstly trading between 5420-5460 expected.

Most of the time Red zone trading expected and Red closing may also be seen but intraday chart formation of today will decide coming sessions markets. Let Indian markets prepare then next moves will be decided according to today intraday charts patterns.

Weekly Outlook(May 23 to May 27,2011)

Detailed Technical Analysis and Researches have been posted in following 5 topics with EOD and Daily Charts and technical reasons for next moves have been explained:-

1- Nifty-Averages and Indicators Analysis
2- Nifty-Elliot Waves Structure
3- Nifty- Correction in Continuation pattern Pennant Formations
4- Nifty-Micro Analysis of 10 Days Intra Day Chart
5- Nifty-Micro Analysis of Intra Day Chart(20-05-2011)

Conclusions (After Putting All Studies Together)

Nifty is sustaining below 50(5619) and 200 DaY EMA(5616) for the last 14 sessions therefore Intermediate and long term trends are down. Diwali 2010 started correction was in the form of 'ABC' Correction and this correction has been completed at 5177 and after its completion 4th corrective wave has also completed. 5th impulsive wave is on and it is in the form of Rising Trend Line of Pennant but it was broken down last week,Nifty  nicely consolidated 4 days below it and after that strong upmove seen last Friday.

Range Bound Market Between 5401-5605 Chart

Just click on chart for its enlarged view

Nifty is trading between 5401-5605 for the last 14 sessions. Supports and Resistances within this range are as follows;-

1- Support and Base formation between 5402-5431
2- Minor selling between 5505-5517
3- Resistance between 5520-5530
3- Resistance between 5540-5605

Huge selling above this range. Supports below that range are as follows;-

1- 5348
2- 5232
3- 5177
Strong lower levels consolidations in previous week but resistances at higher levels are also equally strong. Indian markets have to prepare for next sustained and decisive moves and it will be done in first couple of sessions within 5444-5500. Indian markets are preparing for next moves between 5401-5605 and sustaining beyond this range will be next moves confirmations. As market is not trending but range bound therefore next trend view will be formed according to coming sessions intraday charts patterns.

As Wave-5 and continuation pattern Pennant are intact therefore upmoves hopes are still alive and also expected that Indian markets will consolidate in the coming sessions and upward break out will be seen in the coming week..

Nifty-Micro Analysis of Intra Day Chart(20-05-2011)

Nifty-Intra Day Chart(20-05-2011)

Just click on chart for its enlarged view

Main Features

1- Consolidation patterns between 5452-5490
2- Minor selling between 5505-5517

Conclusions

3 Days base formation between 5402-5431 and then Consolidation patterns between 5452-5490 last Friday but good selling at higher levels also therefore market requires complete preparation for next moves in the coming sessions.

Nifty-Micro Analysis of 10 Days Intra Day Chart

Nifty- 10 Days Intra Day Chart (May 09 to May 20,2011)

Just click on chart for its enlarged view

Main Features

1- Strong Support between 5402-5431
2- Minor selling between 5505-5517 on 20-05-2011
3- Resistance between 5520-5530
3- Resistance between 5540-5605

Conclusions

Strong support and base formation between 5402-5431 in 3 days and then up move was seen on 20-05-2011 but minor selling also seen between 5505-5517. Next resistance is between 5520-5530 and minor seeling was seen exactly below it last Friday. In this manner now next resistance range is 5505-5530.

Selling at higher levels but strong base formations at crucial levels near 5400 and Nifty has sustained above 5444 also therefore Indian markets have to consolidate between 5444-5500 first in next week and then fresh upmoves will be possible.

Nifty- Correction in Continuation pattern Pennant Formations

ABC' Correction & pattern Pennant Formations Chart

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Main Features

1-'ABC' Correction Completed
2- Correction in Continuation pattern Pennant Formations
3- Support at 5444
4- Previous closing at Rising Trend Line of Pennant

Conclusions

Correction started from Diwali 2010 day with formation of 'ABC' Correction,that has been completed at 5177 and after its completion 4th corrective wave has completed. 5th impulsive wave is on and it is Rising Trend Line of Pennant,it was broken down last week but Nifty  nicely consolidated 4 days below it and after strong upmove seen last Friday.

Pennant is continuation pattern as primary trend is still up therefore Pennant formation means that finally Nifty should cross and sustain above Falling Trend Line of Pennant. As Nifty closed exactly at at Rising Trend Line of Pennant trend line after trading above it last Friday therefore Pennant is still intact and its breaking down confirmation point will be slipping below 5401.

As Pennant is still intact therefore upmoves hopes are still alive.