All the Asian markets are trading in Red today morning therefore sentiment is weak and firstly negative zone trading between 5375-5410 after weak opening expected today. Strong supports below 5400 and in the same manner strong resistances above 5480 therefore Indian markets will prepare for next moves within 5375-5410 and sustaining beyond this range will be next moves first indication. Quiet range bound market expected today and mentioned range will be watched first for next moves confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Market Outlook(17-06-2011)
Major supports between 5329-5400 and Nifty slipped below 5400 today but narket require complete distribution patterns to sustain below 5400. Strong resistance between 5480-5604. Nifty traded within 5389-5447 yesterday with mixed trading patterns and technical positions are as follows:-
1- Minor support signals between 5405-5420
2- Selling between 5424-5442
Although Nifty closed near lowest of the day yesterday and selling at higher levels also but patterns are showing consolidation formations therefore sustaining beyond yesterday range(5389-5447) will be watched first for next moves confirmations and follow up buying and sustaining above 5447 is also possible in the coming sessions.
Strong supports below yesterday range and in the same manner strong resistances at higher levels therefore Indian markets will prepare for next moves within or near about yesterday range(5389-5447) and sustaining beyond this range will be next moves confirmations therefore will be watched first for next moves confirmations.
Nifty-Micro Analysis of Intra Day Chart For 17-06-2011
Nifty-Intra Day Chart(16-06-2011):-
Main Features
1- Minor support signals between 5405-5420
2- Selling between 5424-5442
Conclusions
Minor support signals seen between 5405-5420 and after that market moved up also but selling developed between 5424-5442 and Nifty slipped below 5400. All the Asian markets closed near lower levels and European markets also slipped after gap down opening therefore sentiment was depressed whole day today and Nifty entered into last support range.
Selling above 5480,today also between 5424-5442 and only minor support signals between 5405-5420 therefore market require complete consolidation for any up move beginning.
Strong support range(5329-5400) below today trading range therefore market require fresh selling for dipping and sustaining below 5329.
Although Nifty slipped and closed below 5400 but minor support signals seen between 5405-5420 today therefore sustaining beyond 5400 will be watched firstly watched tomorrow for next moves confirmations.
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| Just click on chart for its enlarged view |
1- Minor support signals between 5405-5420
2- Selling between 5424-5442
Conclusions
Minor support signals seen between 5405-5420 and after that market moved up also but selling developed between 5424-5442 and Nifty slipped below 5400. All the Asian markets closed near lower levels and European markets also slipped after gap down opening therefore sentiment was depressed whole day today and Nifty entered into last support range.
Selling above 5480,today also between 5424-5442 and only minor support signals between 5405-5420 therefore market require complete consolidation for any up move beginning.
Strong support range(5329-5400) below today trading range therefore market require fresh selling for dipping and sustaining below 5329.
Although Nifty slipped and closed below 5400 but minor support signals seen between 5405-5420 today therefore sustaining beyond 5400 will be watched firstly watched tomorrow for next moves confirmations.
FII & DII trading activity in Capital Market Segment on 16-Jun-2011
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Indian Stock Markets Closing Reports(16-06-2011)
1- Black Candle
2- All the Indices closed in Red
3- Nifty entered into last strong support range(5329-5400) of 33 sessions Range Bound Market(5329-5605).
Ratios
Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(16-06-2011): 19.93
Advances & Declines
BSE ADVANCES : 1063
BSE DECLINES : 1775
NSE ADVANCES : 409
NSE DECLINES : 981
Nifty Open Interest Changed Today
Nifty- 5300 CE(Jun)- +204700(+18.26%)
Nifty- 5300 PE(Jun)- +479800(+6.83%)
Nifty- 5400 CE(Jun)- +1172700(+35.16%)
Nifty- 5400 PE(Jun)- -734950(-8.11%)
Nifty- 5500 CE(Jun)- +996000(+15.92%)
Nifty- 5500 PE(Jun)- -394000(-8.12%)
Closing
Nifty- closed at 5,396.75(-50.75 Points & -0.93%)
Sensex- closed at 17,985.88(-146.36 Points & -0.81%)
CNX MIDCAP - closed at 7,974.15(-53.15 Points & -0.66%)
BSE SMALL CAP- closed at 8,249.98(-44.91 Points & -0.54%)
Nifty Spot-Levels & Trading Strategy for 17-06-2011
Nifty Spot-Levels
R3 5490
R2 5468
R1 5432
Avg 5410
S1 5374
S2 5352
S3 5316
Nifty Spot-Trading Strategy
H6 5454 Trgt 2
H5 5440 Trgt 1
H4 5427 Long breakout
H3 5411 Go Short
H2 5406
H1 5401
L1 5390
L2 5385
L3 5380 Long
L4 5364 Short Breakout
L5 5351 Trgt 1
L6 5337 Trgt 2
R3 5490
R2 5468
R1 5432
Avg 5410
S1 5374
S2 5352
S3 5316
Nifty Spot-Trading Strategy
H6 5454 Trgt 2
H5 5440 Trgt 1
H4 5427 Long breakout
H3 5411 Go Short
H2 5406
H1 5401
L1 5390
L2 5385
L3 5380 Long
L4 5364 Short Breakout
L5 5351 Trgt 1
L6 5337 Trgt 2
Nifty(Jun Fut)-Levels & Trading Strategy for 17-06-2011
Nifty(Jun Fut)-Levels
R3 5510
R2 5484
R1 5443
Avg 5417
S1 5376
S2 5350
S3 5309
Nifty(Jun Fut)-Trading Strategy
H6 5469 Trgt 2
H5 5453 Trgt 1
H4 5438 Long breakout
H3 5420 Go Short
H2 5414
H1 5408
L1 5395
L2 5389
L3 5383 Long
L4 5365 Short Breakout
L5 5350 Trgt 1
L6 5334 Trgt 2
R3 5510
R2 5484
R1 5443
Avg 5417
S1 5376
S2 5350
S3 5309
Nifty(Jun Fut)-Trading Strategy
H6 5469 Trgt 2
H5 5453 Trgt 1
H4 5438 Long breakout
H3 5420 Go Short
H2 5414
H1 5408
L1 5395
L2 5389
L3 5383 Long
L4 5365 Short Breakout
L5 5350 Trgt 1
L6 5334 Trgt 2
Bank Nifty(Jun Fut)-Levels & Trading Strategy for 17-06-2011
Bank Nifty(Jun Fut)-Levels
R3 10915
R2 10828
R1 10709
Avg 10622
S1 10503
S2 10416
S3 10297
Bank Nifty(Jun Fut)-Trading Strategy
H6 10798 Trgt 2
H5 10751 Trgt 1
H4 10704 Long breakout
H3 10647 Go Short
H2 10628
H1 10609
L1 10572
L2 10553
L3 10534 Long
L4 10477 Short Breakout
L5 10430 Trgt 1
L6 10383 Trgt 2
R3 10915
R2 10828
R1 10709
Avg 10622
S1 10503
S2 10416
S3 10297
Bank Nifty(Jun Fut)-Trading Strategy
H6 10798 Trgt 2
H5 10751 Trgt 1
H4 10704 Long breakout
H3 10647 Go Short
H2 10628
H1 10609
L1 10572
L2 10553
L3 10534 Long
L4 10477 Short Breakout
L5 10430 Trgt 1
L6 10383 Trgt 2
Post-closing Report(16-06-2011)
News based volatile market today with intraday selling at higher levels between 5424-5442 and Nifty slipped into resistance range of 5329-5400. Minor support seen between 5405-5420 but Nifty could not sustain above and slipped below 5400.
As minor support seen above 5405 today therefore sustaing beyond it will be next move confirmation.
As minor support seen above 5405 today therefore sustaing beyond it will be next move confirmation.
Mid-session Outlook-2(16-06-2011)
Intra day support getting signals emerged between 5405-5420 today therefore sustaining above 5420 will be next up move first indication.
Mid-session Outlook(16-06-2011)
Voltality for today was predicted and that is being seen after credit policy today. Technical positions changes fast in such type of markets therefore next moves conclusions should drawn sfter sustaining beyond 5385-5430..
Post-open Outlook(16-06-2011)
Indian markets outperformed global cues after gap down opening today and trading above strong support range(5329-5400) since opening today,it is positive cue. Initial signals are positive but market require more preparation for next moves. RBI Credit Policy today at 12:00 noon therefore market may be volatile. Sustaining above 5430 will be first strong indication of very short term up move begining and moving below 5385 will be more weakness confirmation.
Next moves first confirmation range for today is 5385-5430.
Next moves first confirmation range for today is 5385-5430.
Technical Analysis,Researches & Market Outlook(16-06-2011)
Nifty-EOD Chart(15-06-2011) showing 32 sessions Range Bound Market(5329-5605):-
Nifty is trading between 5329-5605 for the last 32 sessions and also preparing for next moves between this range. Break out of mentioned range will give following decisive trend to Indian markets;-
1- Sustaing above 5605 will mean all trends are turning up and blasting rally after long range bound consolidations.
2- All trends are already down and sustaining below 5329 will mean breaking down after long range bound distributions and that will mean beginning of long Bear phase also.
All the technical points have already been told in Weekly Outlook(Jun 13 to Jun 17,2011) and break out implications are updated above. Now only internal construction of mentioned range(5329-5605) will be discussed and will try to understand next moves before break out of range. Next resistances and supports within this range are as follows:-
1- Strong resistance is 5480-5604
2- Strong support is 5329-5400
Next support 2 below 5329 are:-
1- 5233
2- 5178
Most Asian markets are more than 1% down today morning after US markets 1.5% yesterday crash. Huge selling at higher levels and no consolidation at lower levels yesterday therefore Nifty will trade between next and last support range 5329-5400. Follow up selling below 5400 today will mean break ing down possibility of 5329.
Gap down opening and Red closing after whole day negative zone trading is also very much possible.Expected 1st range of today is 5375-5415 and Nifty will first prepare for next moves within this range. Let market prepare for next moves then will be updated from intraday charts analysis in Mid-session Outlooks as was done yesterday and down moves were declared near yesterday higher levels in following line:-
Mid-session Outlook(15-06-2011):- Selling developed just below strong resistance range therefore more down moves will be seen now.
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| Just click on chart for its enlarged view |
1- Sustaing above 5605 will mean all trends are turning up and blasting rally after long range bound consolidations.
2- All trends are already down and sustaining below 5329 will mean breaking down after long range bound distributions and that will mean beginning of long Bear phase also.
All the technical points have already been told in Weekly Outlook(Jun 13 to Jun 17,2011) and break out implications are updated above. Now only internal construction of mentioned range(5329-5605) will be discussed and will try to understand next moves before break out of range. Next resistances and supports within this range are as follows:-
1- Strong resistance is 5480-5604
2- Strong support is 5329-5400
Next support 2 below 5329 are:-
1- 5233
2- 5178
Most Asian markets are more than 1% down today morning after US markets 1.5% yesterday crash. Huge selling at higher levels and no consolidation at lower levels yesterday therefore Nifty will trade between next and last support range 5329-5400. Follow up selling below 5400 today will mean break ing down possibility of 5329.
Gap down opening and Red closing after whole day negative zone trading is also very much possible.Expected 1st range of today is 5375-5415 and Nifty will first prepare for next moves within this range. Let market prepare for next moves then will be updated from intraday charts analysis in Mid-session Outlooks as was done yesterday and down moves were declared near yesterday higher levels in following line:-
Mid-session Outlook(15-06-2011):- Selling developed just below strong resistance range therefore more down moves will be seen now.
Nifty-Micro Analysis of Intra Day Chart For 15-06-2011
Nifty-Intra Day Chart(15-06-2011):-
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| Just click on chart for its enlarged view |
1- Selling between 5495-5480
2- Last 2 hours mixed patterns between 5439-5455
Conclusions
Selling between 5495-5480 and as soon as it developed then down moves was predicted in Mid-session Outlook today and following line was told:-
more down moves will be seen now.
As already selling at higher levels therefore more down moves and next supports testing possibility can not be ruled out because no clear consolidation patterns today and last 2 hours mixed patterns between 5439-5455, sustaining beyond this range will be next move confirmation and possibilities of slipping below this range are more.
FII & DII trading activity in Capital Market Segment on 15-Jun-2011
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Indian Stock Markets Closing Reports(15-06-2011)
1- Long Red Candle.
2- All the Indices closed negative.
3- Nifty tested that bottom of crucial support range( 5438-5455)
Ratios
Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(15-06-2011): 20.12
Advances & Declines
BSE ADVANCES : 1178
BSE DECLINES : 1675
NSE ADVANCES : 467
NSE DECLINES : 936
Nifty Open Interest Changed Today
Nifty- 5300 CE(Jun)- +30050(+2.75%)
Nifty- 5300 PE(Jun)- -15800(-0.22%)
Nifty- 5400 CE(Jun)- +573650(+20.50%)
Nifty- 5400 PE(Jun)- -658600(-6.76%)
Nifty- 5500 CE(Jun)- +1682650(+35.44%)
Nifty- 5500 PE(Jun)- -1527550(-23.58%)
Closing
Nifty- closed at 5,447.50(-53.00 Points & -0.96%)
Sensex- closed at 18,132.24(-176.42 Points & -0.96%)
CNX MIDCAP - closed at 8,027.30(-51.30 Points & -0.64%)
BSE SMALL CAP- closed at 8,294.89(-49.40 Points & -0.59%)
Nifty Spot-Levels & Trading Strategy for 16-06-2011
Nifty Spot-Levels
R3 5545
R2 5522
R1 5484
Avg 5461
S1 5423
S2 5400
S3 5362
Nifty Spot-Trading Strategy
H6 5508 Trgt 2
H5 5494 Trgt 1
H4 5480 Long breakout
H3 5463 Go Short
H2 5458
H1 5452
L1 5441
L2 5435
L3 5430 Long
L4 5413 Short Breakout
L5 5399 Trgt 1
L6 5385 Trgt 2
R3 5545
R2 5522
R1 5484
Avg 5461
S1 5423
S2 5400
S3 5362
Nifty Spot-Trading Strategy
H6 5508 Trgt 2
H5 5494 Trgt 1
H4 5480 Long breakout
H3 5463 Go Short
H2 5458
H1 5452
L1 5441
L2 5435
L3 5430 Long
L4 5413 Short Breakout
L5 5399 Trgt 1
L6 5385 Trgt 2
Nifty(Jun Fut)-Levels & Trading Strategy for 16-06-2011
Nifty(Jun Fut)-Levels
R3 5557
R2 5531
R1 5490
Avg 5464
S1 5423
S2 5397
S3 5356
Nifty(Jun Fut)-Trading Strategy
H6 5517 Trgt 2
H5 5502 Trgt 1
H4 5486 Long breakout
H3 5468 Go Short
H2 5462
H1 5456
L1 5443
L2 5437
L3 5431 Long
L4 5413 Short Breakout
L5 5398 Trgt 1
L6 5382 Trgt 2
R3 5557
R2 5531
R1 5490
Avg 5464
S1 5423
S2 5397
S3 5356
Nifty(Jun Fut)-Trading Strategy
H6 5517 Trgt 2
H5 5502 Trgt 1
H4 5486 Long breakout
H3 5468 Go Short
H2 5462
H1 5456
L1 5443
L2 5437
L3 5431 Long
L4 5413 Short Breakout
L5 5398 Trgt 1
L6 5382 Trgt 2
Bank Nifty(Jun Fut)-Levels & Trading Strategy for 16-06-2011
Bank Nifty(Jun Fut)-Levels
R3 11006
R2 10920
R1 10778
Avg 10692
S1 10550
S2 10464
S3 10322
Bank Nifty(Jun Fut)-Trading Strategy
H6 10864 Trgt 2
H5 10813 Trgt 1
H4 10761 Long breakout
H3 10698 Go Short
H2 10677
H1 10656
L1 10615
L2 10594
L3 10573 Long
L4 10510 Short Breakout
L5 10458 Trgt 1
L6 10407 Trgt 2
R3 11006
R2 10920
R1 10778
Avg 10692
S1 10550
S2 10464
S3 10322
Bank Nifty(Jun Fut)-Trading Strategy
H6 10864 Trgt 2
H5 10813 Trgt 1
H4 10761 Long breakout
H3 10698 Go Short
H2 10677
H1 10656
L1 10615
L2 10594
L3 10573 Long
L4 10510 Short Breakout
L5 10458 Trgt 1
L6 10407 Trgt 2
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