Mid-session Outlook(23-06-2011)

Dow's futures is more than 40 points down since morning today and and whole Asian markets are flat to weak today but Indian markets recovered from lower levels and trading positive today because good lower levels buying was seen yesterday. Lower levels buying levels have already been explained many times in yesterday posted topics.

3 days trading range is 5250-5320 and Nifty is trading near its higher levels after recovering from its lower levels today. Today intraday charts are showing good consolidation at lower levels and it is sign of strength. crossing 5320 will be first strong indication of up moves beginning.

Sustaining above 5329/5356 will be confirmation returning of Bulls.

5250-5320 break out will decide Market Trend

Although all the global markets were weak but Indian markets were not told weak in Pre-open Outlook and trading range of 5250-5290 was given and Nifty is traded between this range(highest-5289.90 and lowest-5252.25) in first hour. Lower levels buying and higher levels selling seen in last 3 sessions and buying/selling ranges have already been explained following 2 topics yesterday:-

1- Nifty-Micro Analysis of 3 days Intra Day Chart(Jun 20 to Jun 22,2011)
2- Nifty-Micro Analysis of Intra Day Chart For 23-06-2011

Nifty traded between 5250-5320 in last 3 sessions with buying and selling within this range. Indian markets will prepare for next moves between this range and break out of this range will be next moves confirmation.

Let market prepare for next moves within mentioned range then next moves and break out direction will be will be predicted from intraday charts patterns of coming sessions.


Be Bullish or Bearish according to break out 5250-5320.

Pre-open Outlook(23-06-2011)

All the Asian markets are down today morning after Red closing of US markets therefore sentiment is weak today morning. Nifty traded between 5250-5320 in last 3 days with lower levels buying and higher levels selling. Expected that Nifty will trade within lower band of this range range after weak opening today.

Next good supports below mentioned range are within 5220-5250 therefore any immediate fall is not expected and firstly more selling is required between 5250-5282 for any down moves.

Quiet range bound market expected between 5250-5290 today.

Nifty-Micro Analysis of 3 days Intra Day Chart(Jun 20 to Jun 22,2011)

Nifty-Intra Day Chart(Jun 20 to Jun 22,2011):-

Just click on chart for its enlarged view

Main Features

1- Higher levels selling
2- Lower levels buying
3- 3 Days trading range is 5250-5320

Conclusions

Nifty slipped 141 points in 10 minutes and crucial supports broken down on 20-06-2011 after 'DTAA renegotiation' news. 3 crucial patterns(H & S,18 Months Rising Trend Line and 34 Sessions Trading Range) broken down in this sharp fall. Last technical formality of 3 days sustaining below crucial levels have also been completed on 22-06-2011 but required selling is not seen and lower levels buying was also seen in these 3 days within (5250-5320).

Last 3 sessions trading range break out and sustaining beyond must be watched because:-

1- Intraday patterns are mixed(both buying and selling)
2- 3 crucial patterns break down was news(DTAA renegotiation) based therefore whipsaw possiblity will also be considered after lower levels buying in these 3 days.

Indian markets will prepare for next moves between 5250-5320. Break out and sustaining beyond this range will be next moves confirmations. Let market reach at breaking out point then its inplications will be explained. 

Indian Stock Markets Closing Reports(22-06-2011)

Main features of today trading are as follows

1- Flat to Red closing in all the Indices.
2- Intraday charts showing lower levels consolidations.
3- Black Candles

Ratios

Nifty Put Call Ratio: 0.80
Nifty P/E Ratio(22-06-2011): 19.46

Advances & Declines

BSE ADVANCES : 986
BSE DECLINES :1876
NSE ADVANCES : 411
NSE DECLINES :1000

Nifty Open Interest Changed Today

Nifty- 5200 CE(Jun)- -8650(-0.36%)
Nifty- 5200 PE(Jun)- +942150(+11.55%)

Nifty- 5300 CE(Jun)- +140650(+2.62%)
Nifty- 5300 PE(Jun)- +550000(+9.40%)

Nifty- 5400 CE(Jun)- +1006000(+16.03%)
Nifty- 5400 PE(Jun)- -186450(-3.79%)

Closing 

Nifty- closed at 5,278.30(+2.45 Points & +0.05%)
Sensex- closed at 17,550.63(-9.67 Points & -0.06%)
CNX MIDCAP - closed at 7,631.65(-66.40 Points & -0.86%)
BSE SMALL CAP- closed at 7,807.71(-66.43 Points & -0.84%)

FII Trading Data in Derivatives Segment on 22-Jun-2011

FII & DII trading activity in Capital Market Segment on 22-Jun-2011

FII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 22-Jun-2011 1842.76 2130.16 -287.4

DII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 22-Jun-2011 824.99 667.62 157.37

Nifty-Micro Analysis of Intra Day Chart For 23-06-2011

Nifty-Intra Day Chart(22-06-2011):-

Just click on chart for its enlarged view

Main Features

1- Consolidation between 5263-5282
2- Minor selling between 5287-5297

Conclusions

Last 2 days selling patterns but today consolidation patterns therefore last 3 sessions consolidated positions are mixed between 5250-5320 and suggesting that Nifty will trade first within 5250-5320 and prepare for next moves as well as sustaining beyond mentioned range will be first strong indication of next moves.

Nifty Spot-Levels & Trading Strategy for 23-06-2011

Nifty Spot-Levels

R3 5352
R2 5331
R1 5304
Avg 5283
S1 5256
S2 5235
S3 5208

Nifty Spot-Trading Strategy

H6 5326     Trgt 2
H5 5315     Trgt 1
H4 5304     Long breakout
H3 5291     Go Short
H2 5286
H1 5282
L1 5273
L2 5269
L3 5264     Long
L4 5251     Short Breakout
L5 5240     Trgt 1
L6 5229     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 23-06-2011

Nifty(Jun Fut)-Levels

R3 5352
R2 5332
R1 5307
Avg 5287
S1 5262
S2 5242
S3 5217

Nifty(Jun Fut)-Trading Strategy

H6 5328     Trgt 2
H5 5317     Trgt 1
H4 5307     Long breakout
H3 5295     Go Short
H2 5291
H1 5287
L1 5278
L2 5274
L3 5270     Long
L4 5258     Short Breakout
L5 5248     Trgt 1
L6 5237     Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 23-06-2011

Bank Nifty(Jun Fut)-Levels

R3 10669
R2 10615
R1 10553
Avg 10499
S1 10437
S2 10383
S3 10321

Bank Nifty(Jun Fut)-Trading Strategy

H6 10608     Trgt 2
H5 10582     Trgt 1
H4 10555     Long breakout
H3 10523     Go Short
H2 10513
H1 10502
L1 10481
L2 10470
L3 10460     Long
L4 10428     Short Breakout
L5 10401     Trgt 1
L6 10375     Trgt 2

Pre-closing Outlook(22-06-2011)

Range of 5275-532 was given at 12:42:00 AM  today and Nifty traded most of the time between this range and also closing within it. As consolidation seen therefore following line was also told in Mid-session Outlook2

As today intraday trading patterns are showing consolidations therefore view will not be bearish until Nifty will not sustain below 5270

Nifty could not sustain below 5270 today.

Intra day Patterns are mixed today.

Mid-session Outlook3(22-06-2011)

Intraday selling also seen between 5287-5297 today. it is follow up selling after yesterday selling between 5290-5320.

Lower levels buying and higher levels selling therefore conclusion is same:-

Next moves confirmation range is sustaining beyond 5270-5320

Mid-session Outlook2(22-06-2011)

Next moves confirmation range of 5275-5320 was given for today trading and Nifty traded most of the time within this range with intraday consolidation patterns.

As today intraday trading patterns are showing consolidations therefore view will not be bearish until Nifty will not sustain below 5270. Last 2 days selling range is 5290-5320.

Next moves confirmation range is sustaining beyond 5270-5320

Mid-session Outlook(22-06-2011)

Mixed Intra day sentiments today:-

1- Weak  due to 3 pattern breaking down on 22-06-2011
2- Strong due to strong global markets.

Mixed trading positions today:-

1- Weak due to good selling between 5290-5320 in last 2 days
2- Positive due to today intraday buying between 5270-5278 today.

Next moves confirmation will be sustaining beyond 5270-5320

Post-open Outlook-2(22-06-2011)

When US markets were surging after strong European markets closing then range(5275-5320) was given in Mid night for watching and Nifty traded most of the time today within mentioned range today. When Nifty was trading near highs then also Weakness was told in Post-open Outlook and Indian markets slipped from higher levels also.

Last 2 days intraday selling between 5275-5320 and today trading within this range today.Nifty sustaining below this range will mean again sharp fall.

Post-open Outlook(22-06-2011)

Positive but Weak opening today.

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

Just click on chart for its enlarged view

Firstly watch sustaining beyond 5275-5320 amid global bullish markets for next moves confirmations.

Nifty-Micro Analysis of Intra Day Chart For 22-06-2011

Nifty-Intra Day Chart(21-06-2011):-

Just click on chart for its enlarged view

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.

FII Trading Data in Derivatives Segment on 21-Jun-2011

FII & DII trading activity in Capital Market Segment on 21-Jun-2011

FII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 21-Jun-2011 1699.74 2263.1 -563.36

DII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 21-Jun-2011 1143.76 713.35 430.41