Positive but Weak opening today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Watch Sustaining Beyond 5275-5320 Amid Global Bullish Markets
Market Outlook(22-06-2011)
All the trends were already down and following 3 crucial Patterns gave Bear market confirmation after sharp 141 points fall on 20-06-2011:-
1- 4 months Head & Shoulders Pattern Neckline broken down below 5356.
2- 18 Months Rising Trend Line Broken Down5356.
3- 34 Sessions Trading Range Broken Down below 5329.
(Just click above links for detailed analysis)
Crossing 5329 and then sustaining above 5356 will be up moves confirmation and sustaining below 5329 will be long Bear market confirmation.
Next support range is 5220-5250 and next resistances are as follows:-
1- Next Resistance range is 5300-5320
2- Next Resistance range is 5360-5385
3- Next Resistance range is 5400-5440
4- Next Resistance range is 5480-5604
Sustaining above 5320 will be first upmove indication but chain of resistances therefore crossing 5385 will be up moves confirmation. Indian markets are well prepared for tanking and sustaining below 5220 will be long Bear phase confirmation.
Intraday patterns of 20-06-2011 and following days will give first confirmation of next big moves. Just click following links for Intraday charts analysis:-
1- Nifty-Intra Day Chart(20-06-2011)
2- Nifty-Intra Day Chart(21-06-2011)
Conclusions from last 2 sessions Intra Day Charts analysis
Selling seen between 5275-5320 in last 2 days and Nifty closed at 5275.85 on 21-06-2011 therefore this range will be watched first and sustaining beyond will be next moves confirmation. Strong support between 5220-5250 at lower levels and complete selling patterns are required for next big down moves confirmations
As last 2 sessions selling below support range of 5329 therefore strong indication of more weakness but sustaining beyond 5275-5320 will be watched first today because:-
1- Very short term indicators are oversold and indicating bounce back possibility.
2- Nifty moved below lower band of Bollinger-Band and indicating bounce back possibility.
3- Expected that Global cues will be strong today morning.
Bollinger-Band & Very short term indicators
Firstly watch sustaining beyond 5275-5320 amid global bullish markets for next moves confirmations.
All the trends were already down and following 3 crucial Patterns gave Bear market confirmation after sharp 141 points fall on 20-06-2011:-
1- 4 months Head & Shoulders Pattern Neckline broken down below 5356.
2- 18 Months Rising Trend Line Broken Down5356.
3- 34 Sessions Trading Range Broken Down below 5329.
(Just click above links for detailed analysis)
Crossing 5329 and then sustaining above 5356 will be up moves confirmation and sustaining below 5329 will be long Bear market confirmation.
Next support range is 5220-5250 and next resistances are as follows:-
1- Next Resistance range is 5300-5320
2- Next Resistance range is 5360-5385
3- Next Resistance range is 5400-5440
4- Next Resistance range is 5480-5604
Sustaining above 5320 will be first upmove indication but chain of resistances therefore crossing 5385 will be up moves confirmation. Indian markets are well prepared for tanking and sustaining below 5220 will be long Bear phase confirmation.
Intraday patterns of 20-06-2011 and following days will give first confirmation of next big moves. Just click following links for Intraday charts analysis:-
1- Nifty-Intra Day Chart(20-06-2011)
2- Nifty-Intra Day Chart(21-06-2011)
Conclusions from last 2 sessions Intra Day Charts analysis
Selling seen between 5275-5320 in last 2 days and Nifty closed at 5275.85 on 21-06-2011 therefore this range will be watched first and sustaining beyond will be next moves confirmation. Strong support between 5220-5250 at lower levels and complete selling patterns are required for next big down moves confirmations
As last 2 sessions selling below support range of 5329 therefore strong indication of more weakness but sustaining beyond 5275-5320 will be watched first today because:-
1- Very short term indicators are oversold and indicating bounce back possibility.
2- Nifty moved below lower band of Bollinger-Band and indicating bounce back possibility.
3- Expected that Global cues will be strong today morning.
Bollinger-Band & Very short term indicators
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| Just click on chart for its enlarged view |
Nifty-Micro Analysis of Intra Day Chart For 22-06-2011
Nifty-Intra Day Chart(21-06-2011):-
Main Features
1- Minor buying between 5258-5278
2- 3 Hours selling between 5300-5320
3- Minor buying between 5265-5278
Conclusions
Minor buying at lower levels today but 3 hours follow up Selling was also seen between 5300-5320. As today selling was below support range of 5329 therefore more weakness expected in the coming sessions.
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| Just click on chart for its enlarged view |
1- Minor buying between 5258-5278
2- 3 Hours selling between 5300-5320
3- Minor buying between 5265-5278
Conclusions
Minor buying at lower levels today but 3 hours follow up Selling was also seen between 5300-5320. As today selling was below support range of 5329 therefore more weakness expected in the coming sessions.
FII & DII trading activity in Capital Market Segment on 21-Jun-2011
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Indian Stock Markets Closing Reports(21-06-2011)
1- Doji Candle
2- Almost all the Indices closed with minor gains or minor loss.
3- Market slipped after Selling at higher levels.
Ratios
Nifty Put Call Ratio: 0.82
Nifty P/E Ratio(21-06-2011): 19.48
Advances & Declines
BSE ADVANCES : 1114
BSE DECLINES : 1679
NSE ADVANCES : 566
NSE DECLINES : 831
Nifty Open Interest Changed Today
Nifty- 5200 CE(Jun)- -33700(-1.37%)
Nifty- 5200 PE(Jun)- +1096250(+15.16%)
Nifty- 5300 CE(Jun)- +695550(+14.70%)
Nifty- 5300 PE(Jun)- +441600(+7.59%)
Closing
Nifty- closed at 5,275.85(+17.95 Points & +0.34%)
Sensex- closed at 17,560.30(+53.67 Points & +0.31%)
CNX MIDCAP - closed at 7,698.05(-34.35 Points & -0.44%%)
BSE SMALL CAP- closed at 7,874.14(-33.83 Points & -0.43%)
Nifty Spot-Levels & Trading Strategy for 22-06-2011
Nifty Spot-Levels
R3 5377
R2 5349
R1 5312
Avg 5284
S1 5247
S2 5219
S3 5182
Nifty Spot-Trading Strategy
H6 5340 Trgt 2
H5 5325 Trgt 1
H4 5310 Long breakout
H3 5292 Go Short
H2 5286
H1 5280
L1 5269
L2 5263
L3 5257 Long
L4 5239 Short Breakout
L5 5224 Trgt 1
L6 5209. Trgt 2
R3 5377
R2 5349
R1 5312
Avg 5284
S1 5247
S2 5219
S3 5182
Nifty Spot-Trading Strategy
H6 5340 Trgt 2
H5 5325 Trgt 1
H4 5310 Long breakout
H3 5292 Go Short
H2 5286
H1 5280
L1 5269
L2 5263
L3 5257 Long
L4 5239 Short Breakout
L5 5224 Trgt 1
L6 5209. Trgt 2
Nifty(Jun Fut)-Levels & Trading Strategy for 22-06-2011
Nifty(Jun Fut)-Levels
R3 5461
R2 5416
R1 5346
Avg 5301
S1 5231
S2 5186
S3 5116
Nifty(Jun Fut)-Trading Strategy
H6 5392 Trgt 2
H5 5366 Trgt 1
H4 5340 Long breakout
H3 5308 Go Short
H2 5298
H1 5287
L1 5266
L2 5255
L3 5245 Long
L4 5213 Short Breakout
L5 5187 Trgt 1
L6 5161 Trgt 2
R3 5461
R2 5416
R1 5346
Avg 5301
S1 5231
S2 5186
S3 5116
Nifty(Jun Fut)-Trading Strategy
H6 5392 Trgt 2
H5 5366 Trgt 1
H4 5340 Long breakout
H3 5308 Go Short
H2 5298
H1 5287
L1 5266
L2 5255
L3 5245 Long
L4 5213 Short Breakout
L5 5187 Trgt 1
L6 5161 Trgt 2
Bank Nifty(Jun Fut)-Levels & Trading Strategy for 22-06-2011
Bank Nifty(Jun Fut)-Levels
R3 10841
R2 10760
R1 10617
Avg 10536
S1 10393
S2 10312
S3 10169
Bank Nifty(Jun Fut)-Trading Strategy
H6 10698 Trgt 2
H5 10647 Trgt 1
H4 10597 Long breakout
H3 10535 Go Short
H2 10515
H1 10494
L1 10453
L2 10432
L3 10412 Long
L4 10350 Short Breakout
L5 10300 Trgt 1
L6 10249 Trgt 2
R3 10841
R2 10760
R1 10617
Avg 10536
S1 10393
S2 10312
S3 10169
Bank Nifty(Jun Fut)-Trading Strategy
H6 10698 Trgt 2
H5 10647 Trgt 1
H4 10597 Long breakout
H3 10535 Go Short
H2 10515
H1 10494
L1 10453
L2 10432
L3 10412 Long
L4 10350 Short Breakout
L5 10300 Trgt 1
L6 10249 Trgt 2
Pre-closing Outlook(21-06-2011)
When Nifty was trading near higher levels today then doubts on that upmove were shown and following lines were told in Mid-session Outlook today:-
1- firstly crossing 5329 and then sustaining above 5356 will be up moves confirmation otherwise today up move will be understood global good sentiments driven pull back rally only.
2- 3 crucial patterns broken down yesterday therefore complete consolidations and confirmation is required for trend reversal.
Intraday selling seen between 5300-5320 today therefore Indian markets will remain weak in the coming sessions.
1- firstly crossing 5329 and then sustaining above 5356 will be up moves confirmation otherwise today up move will be understood global good sentiments driven pull back rally only.
2- 3 crucial patterns broken down yesterday therefore complete consolidations and confirmation is required for trend reversal.
Intraday selling seen between 5300-5320 today therefore Indian markets will remain weak in the coming sessions.
Mid-session Outlook(21-06-2011)
All the Asian markets showed good recovery from lower levels of the day and either some are trading near day's higher levels or some have closed near highs of the day. US futures is also 40 points up and Indian markets also got support at lower levels of the day today therefore trading positive since opening today.
Indian markets intraday charts also showing lower levels consolidations patterns today but firstly crossing 5329 and then sustaining above 5356 will be up moves confirmation otherwise today up move will be understood global good sentiments driven pull back rally only.
3 crucial patterns broken down yesterday therefore complete consolidations and confirmation is required for trend reversal
Indian markets intraday charts also showing lower levels consolidations patterns today but firstly crossing 5329 and then sustaining above 5356 will be up moves confirmation otherwise today up move will be understood global good sentiments driven pull back rally only.
3 crucial patterns broken down yesterday therefore complete consolidations and confirmation is required for trend reversal
Post-open Outlook(21-06-2011)
Patterns of today are suggesting consolidation and lower levels buying between 5258-5278 therefore minor upmoves are visible. More consolidations and crossing of minimum one resistance will be any kind of up moves confirmation.
NIFTY-JUN F&O-1ST SELLING OF 20-06-2011-COVERING
NIFTY JUN F & O(SHORTED ON 20-06-2011)-COVER IMMEDIATELY-CMP-5262
NIFTY-JUN F&O-1ST SELLING OF 20-06-2011-MESSAGE
NIFTY-JUN F&O-1ST SELLING OF 20-06-2011- MARKET WILL BE VOLATILE THEREFORE HOLD AND COVER AFTER MY COVERING MESSAGE
3 breaking down Patterns & Bearish markets Confirmations
Market Outlook(21-06-2011)
All the trends were already down and following 3 crucial Patterns were developed on EOD charts which gave Bear market confirmation within 10 minutes yesterday when Nifty nosedived 141 points in just 10 minutes. Just click following links and understand the gravity and importance of following patterns for deciding next phase of Indian markets:-
1- Head & Shoulders Pattern in 4 months EOD Chart
2- 18 Months Rising Trend Line Broken Down
3- 34 Sessions Trading Range(5329-5604) Broken Down
4- Nifty-Micro Analysis of Intra Day Chart For 21-06-2011
Conclusions
Nifty traded more than 3 hours between 5275-5312 with Intraday selling patterns yesterday therefore it is first resistance range and next support range is 5220-5250 and moves below 5220 will mean more down moves.
Asian markets are positive today morning after US markets green closing yesterday therefore Nifty Nifty will open positive and will first trade between 5240-5290. Expected that Nifty will finally slip below 5200 after follow up selling in the coming sessions.
All the trends were already down and following 3 crucial Patterns were developed on EOD charts which gave Bear market confirmation within 10 minutes yesterday when Nifty nosedived 141 points in just 10 minutes. Just click following links and understand the gravity and importance of following patterns for deciding next phase of Indian markets:-
1- Head & Shoulders Pattern in 4 months EOD Chart
2- 18 Months Rising Trend Line Broken Down
3- 34 Sessions Trading Range(5329-5604) Broken Down
4- Nifty-Micro Analysis of Intra Day Chart For 21-06-2011
Conclusions
Nifty traded more than 3 hours between 5275-5312 with Intraday selling patterns yesterday therefore it is first resistance range and next support range is 5220-5250 and moves below 5220 will mean more down moves.
Asian markets are positive today morning after US markets green closing yesterday therefore Nifty Nifty will open positive and will first trade between 5240-5290. Expected that Nifty will finally slip below 5200 after follow up selling in the coming sessions.
34 Sessions Trading Range(5329-5604) Broken Down
Technical Analysis and Research
Nifty- EOD Chart(20-06-2011):-
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| Just click on chart for its enlarged view |
1- 34 Sessions Range Bound Moves
2- Nifty faced resistance 3 times near 5600
3- Nifty got support once at 5329
4- Support broken down
Conclusions
Forceful break down of 34 Sessions Trading Range and Nifty lost 141 points in just 10 minutes. All trends were already down,Nifty was sustaining below 200 Day EMA for the last 34 sessions and forceful breaking down of last 34 session range gave Bear markets confirmations.
Break down was by force on 20-06-2011 and only last technical formality of 3 days sustaining below is left. As breaking down force was strong therefore expected that Nifty will sustain below 34 Sessions Range in the coming 3 sessions.
18 Months Rising Trend Line Broken Down
Technical Analysis and Research
Nifty- EOD Chart(20-06-2011):-
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| Just click on chart for its enlarged view |
1- started on 03/11/2009 from 4538
2- Nifty got support on it 6 times in last 18 months
3- Rising Trend Line broken down
Conclusions
Rising Trend Line broken down forcefully and Nifty plunged 141 points in 10 minutes. All trends were already down,Nifty was sustaining below 200 Day EMA for the last 34 sessions and 18 months uptrend terminated after rising trend line breaking down.
Break down was by force on 20-06-2011 and only last technical formality of 3 days sustaining below is left. As breaking down force was strong therefore expected that Nifty will sustain below rising trend line in the coming 3 sessions.
Head & Shoulders Pattern in 4 months EOD Chart
Technical Analysis and Research
Nifty- EOD Chart(20-06-2011):-
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| Just click on chart for its enlarged view |
Main Features
1- Head & Shoulders Pattern Formation
2- Its Neckline broken down
Conclusions
Neckline broken down by Bullet Force and Nifty nosedived 141 points in 10 minutes. All trends were already down,Nifty was sustaining below 200 Day EMA for the last 34 sessions and Neckline breaking down gave Bearish markets Confirmation.
Break down was by force on 20-06-2011 and only last technical formality of 3 days sustaining below is left. As breaking down force was strong therefore expected that Nifty will sustain below Neckline in the coming 3 sessions.
Nifty-Micro Analysis of Intra Day Chart For 21-06-2011
Nifty-Intra Day Chart(20-06-2011):-
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| Just click on chart for its enlarged view |
1- Selling between 5338-5368
2- Selling between 5275-5312
Conclusions
Nifty slipped 141 points in 10 minutes and crucial supports broken down. Intraday selling seen between 5338-5368 before breaking down and after that again selling seen between 5275-5312 after sharp fall.
As whole day selling therefore more down moves will be seen in the coming sessions.
Indian Stock Markets Closing Reports(20-06-2011)
1- Deep Red Closing.
2- Long Black Candle.
3- 34 sessions range broken down by force.
4- Bearish market confirmations.
5- All the Indices closed in Red.
Ratios
Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(20-06-2011): 19.42
Advances & Declines
BSE ADVANCES : 510
BSE DECLINES : 2346
NSE ADVANCES : 140
NSE DECLINES : 1305
Nifty Open Interest Changed Today
Nifty- 5200 CE(Jun)- +2058350(+516.20%)
Nifty- 5200 PE(Jun)- +316900(+4.08%)
Nifty- 5300 CE(Jun)- +3048100(+152.80%)
Nifty- 5300 PE(Jun)- -545900(-7.15%)
Nifty- 5400 CE(Jun)- +1440900(+29.76%)
Nifty- 5400 PE(Jun)- -929950(-13.29%)
Closing
Nifty- closed at 5,257.90(-108.50 Points & -2.02%)
Sensex- closed at 17,506.63(-363.90 Points & -2.04% )
CNX MIDCAP - closed at 7,732.40(-188.75 Points & -2.38%)
BSE SMALL CAP- closed at 7,907.97(-266.52 Points & -3.26)
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