Intraday patterns are showing consolidations today and yesterday begun rally will remain continued.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Pre-open Outlook(24-06-2011)
When Dow Jones was trading more than 175 points down then today Market Outlook was posted yesterday with the name of "Don't Panic from Global markets fall" and following lines were told:-
1- "up moves hopes from here are alive despite whatsoever weaker global markets cues and Indian markets bear phase entering many confirmations"
2- "Don't Panic from Global markets fall because last 4 sessions intraday charts are not concluding selling but on the contrary showing consolidations on 23-06-2011"
Last 4 sessions most time trading range is 5250-5320 and markets technicals above 5320 were also explained in following lines:-
"Crossing 5320 will be revival of first up move hope and confidence gaining will be after sustaining above 5356. Market has to struggle hard for up moves because multiple resistances between 5356-5605(long term up trend confirmation level)."
Sustaining above 5356 will be from recovering from 141 points 10 minutes fall of 20-06-2011 and will be confirmation of trend reversal as well.
As conclusion of consolidations from last 4 sessions intraday charts therefore more upmoves are expected today.
Don't Panic from Global markets fall
Market Outlook(24-06-2011)
Nifty-Intra Day Chart(23-06-2011):-
Main Features
1- Consolidation between 5253-5300
2- Last 4 hours mixed patterns between 5300-5330
Conclusions
Dow Jones is more than 175 points down at this moment after most European markets more than 1.75% down closing therefore Asian markets may also be weak tomorrow morning.
Indian markets may open in Red tomorrow but key of all the trends and next moves lies in today trading range(5252-5330). Nifty traded most time between 5250-5320 in last 3 sessions and today Nifty covered whole range from bottom to top and closed near Day's high exactly at 5320.
Lower levels good consolidation seen on 22-06-2011 and again consolidation between 5253-5300 today. Although Nifty traded last 4 hours with mixed patterns between 5300-5330 but consolidation percentage is higher therefore up moves hopes from here are alive despite whatsoever weaker global markets cues and Indian markets bear phase entering many confirmations.
All the crucial patterns broken down on 20-06-2011 but today consolidation between 5252-5330 blinked up moves hopes therefore today trading range break out will be watched first for the reply following question:-
"Indian markets are immediately entering into long Bear phase or not"
Interpretation is clear that dipping below 5252 will mean high possibility of breaking 5177 and then crashing. Crossing 5320 will be revival of first up move hope and confidence gaining will be after sustaining above 5356. Market has to struggle hard for up moves because multiple resistances between 5356-5605(long term up trend confirmation level).
Don't Panic from Global markets fall because last 4 sessions intraday charts are not concluding selling but on the contrary showing consolidations on 23-06-2011.
Nifty-Intra Day Chart(23-06-2011):-
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| Just click on chart for its enlarged view |
1- Consolidation between 5253-5300
2- Last 4 hours mixed patterns between 5300-5330
Conclusions
Dow Jones is more than 175 points down at this moment after most European markets more than 1.75% down closing therefore Asian markets may also be weak tomorrow morning.
Indian markets may open in Red tomorrow but key of all the trends and next moves lies in today trading range(5252-5330). Nifty traded most time between 5250-5320 in last 3 sessions and today Nifty covered whole range from bottom to top and closed near Day's high exactly at 5320.
Lower levels good consolidation seen on 22-06-2011 and again consolidation between 5253-5300 today. Although Nifty traded last 4 hours with mixed patterns between 5300-5330 but consolidation percentage is higher therefore up moves hopes from here are alive despite whatsoever weaker global markets cues and Indian markets bear phase entering many confirmations.
All the crucial patterns broken down on 20-06-2011 but today consolidation between 5252-5330 blinked up moves hopes therefore today trading range break out will be watched first for the reply following question:-
"Indian markets are immediately entering into long Bear phase or not"
Interpretation is clear that dipping below 5252 will mean high possibility of breaking 5177 and then crashing. Crossing 5320 will be revival of first up move hope and confidence gaining will be after sustaining above 5356. Market has to struggle hard for up moves because multiple resistances between 5356-5605(long term up trend confirmation level).
Don't Panic from Global markets fall because last 4 sessions intraday charts are not concluding selling but on the contrary showing consolidations on 23-06-2011.
Importance of Levels
Last 4 sessions outlooks are live proofs of this fact that upside break out confirmation of 5320 was given more than 20 times and today closing is exactly at 5320.00 and market denied to give any type of upward confirmation today..
Indian Stock Markets Closing Reports(23-06-2011)
1- Indian markets outperformed global markets.
2- Strong recovery from lower levels of the day.
3- Long White Candle.
4- Closing is mixes but all the Indices recovered from lower levels of the day.
Ratios
Nifty Put Call Ratio: 19.61
Nifty P/E Ratio(24-06-2011): 0.96
Advances & Declines
BSE ADVANCES : 1115
BSE DECLINES : 1674
NSE ADVANCES : 556
NSE DECLINES : 849
Nifty Open Interest Changed Today
Nifty- 5200 CE(Jun)- -302400(-12.74%)
Nifty- 5200 PE(Jun)- +854150(+9.82%)
Nifty- 5300 CE(Jun)- -519900(-9.74%)
Nifty- 5300 PE(Jun)- +1740600(+28.44%)
Nifty- 5400 CE(Jun)- -109500(-1.58%)
Nifty- 5400 PE(Jun)- +254050(+5.72%)
Closing
Nifty- closed at 5,320.00(+41.70 Points & +0.79%)
Sensex- closed at 17,727.49(+176.86 Points & +1.01%%)
CNX MIDCAP - closed at 7,642.75(+11.10 Points & +0.15%)
BSE SMALL CAP- closed at 7,781.94(-25.77 Points & -0.33%)
FII & DII trading activity in Capital Market Segment on 23-Jun-2011
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Nifty Spot-Levels & Trading Strategy for 24-06-2011
Nifty Spot-Levels
R3 5427
R2 5378
R1 5349
Avg 5300
S1 5271
S2 5222
S3 5193
Nifty Spot-Trading Strategy
H6 5399 Trgt 2
H5 5380 Trgt 1
H4 5362 Long breakout
H3 5341 Go Short
H2 5334
H1 5327
L1 5312
L2 5305
L3 5298 Long
L4 5277 Short Breakout
L5 5259 Trgt 1
L6 5240 Trgt 2
R3 5427
R2 5378
R1 5349
Avg 5300
S1 5271
S2 5222
S3 5193
Nifty Spot-Trading Strategy
H6 5399 Trgt 2
H5 5380 Trgt 1
H4 5362 Long breakout
H3 5341 Go Short
H2 5334
H1 5327
L1 5312
L2 5305
L3 5298 Long
L4 5277 Short Breakout
L5 5259 Trgt 1
L6 5240 Trgt 2
Nifty(Jun Fut)-Levels & Trading Strategy for 24-06-2011
Nifty(Jun Fut)-Levels
R3 5421
R2 5379
R1 5347
Avg 5305
S1 5273
S2 5231
S3 5199
Nifty(Jun Fut)-Trading Strategy
H6 5390 Trgt 2
H5 5373 Trgt 1
H4 5356 Long breakout
H3 5336 Go Short
H2 5329
H1 5322
L1 5309
L2 5302
L3 5295 Long
L4 5275 Short Breakout
L5 5258 Trgt 1
L6 5241 Trgt 2
R3 5421
R2 5379
R1 5347
Avg 5305
S1 5273
S2 5231
S3 5199
Nifty(Jun Fut)-Trading Strategy
H6 5390 Trgt 2
H5 5373 Trgt 1
H4 5356 Long breakout
H3 5336 Go Short
H2 5329
H1 5322
L1 5309
L2 5302
L3 5295 Long
L4 5275 Short Breakout
L5 5258 Trgt 1
L6 5241 Trgt 2
Bank Nifty(Jun Fut)-Levels & Trading Strategy for 24-06-2011
Bank Nifty(Jun Fut)-Levels
R3 10715
R2 10642
R1 10591
Avg 10518
S1 10467
S2 10394
S3 10343
Bank Nifty(Jun Fut)-Trading Strategy
H6 10666 Trgt 2
H5 10637 Trgt 1
H4 10609 Long breakout
H3 10575 Go Short
H2 10563
H1 10552
L1 10529
L2 10518
L3 10506 Long
L4 10472 Short Breakout
L5 10444 Trgt 1
L6 10415 Trgt 2
R3 10715
R2 10642
R1 10591
Avg 10518
S1 10467
S2 10394
S3 10343
Bank Nifty(Jun Fut)-Trading Strategy
H6 10666 Trgt 2
H5 10637 Trgt 1
H4 10609 Long breakout
H3 10575 Go Short
H2 10563
H1 10552
L1 10529
L2 10518
L3 10506 Long
L4 10472 Short Breakout
L5 10444 Trgt 1
L6 10415 Trgt 2
Pre-closing Outlook(23-06-2011)
Sharp recovery seen after lower levels consolidations today. Nifty is trading between 5300-5330 for the last 4 hours with mixed patterns and sustaining beyond this range will be firstly watched tomorrow for next moves confirmations.
US futures traded whole day in Red and Dow's futures is 58 points down at this moment. All the Asian markets closed flat to negative and all European markets are about 1% down at this moment while Indian markets are going close more than.75% up therefore it is clear that Indian markets outperformed global markets today and it is sign of strength.
Last 4 hours intraday charts are also showing consolidations indications therefore up moves hopes from here are alive at the closing of today.
Sustaining beyond 5300-5330 will be firstly watched tomorrow for next moves confirmations.
US futures traded whole day in Red and Dow's futures is 58 points down at this moment. All the Asian markets closed flat to negative and all European markets are about 1% down at this moment while Indian markets are going close more than.75% up therefore it is clear that Indian markets outperformed global markets today and it is sign of strength.
Last 4 hours intraday charts are also showing consolidations indications therefore up moves hopes from here are alive at the closing of today.
Sustaining beyond 5300-5330 will be firstly watched tomorrow for next moves confirmations.
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.
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
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.
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):-
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.
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| Just click on chart for its enlarged view |
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)
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 & DII trading activity in Capital Market Segment on 22-Jun-2011
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Nifty-Micro Analysis of Intra Day Chart For 23-06-2011
Nifty-Intra Day Chart(22-06-2011):-
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.
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| Just click on chart for its enlarged view |
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
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
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
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