Indian Markets are poised for Blasting Big Moves

Weekly Outlook(Jun 27 to Jul 01,2011)

Technical Analysis and Research of EOD,Micro Analysis of Nifty Intra Day Charts,Technical Positions,next possibilities have already been explained in following 5 topics with 4 Charts therefore not being repeated:-

1-  Nifty-Micro Analysis of Intra Day Chart For 27-06-2011

2- Steel like Strong Support between 5250-5330

3- 3 Whipsaws(False signals) in Indian markets on 20-06-2011

4- 18 months Rising Trend Line is valid Now

5- 4 months Head & Shoulders Pattern in EOD Chart

Nifty- EOD Chart(24-06-2011):-

Just click on chart for its enlarged view

Nifty was range bound between 5329-5604 in 34 sessions but this range broken down and gave strong bearish indications after 141 Nifty points sharp fall on 20-06-2011. Nifty again  turned range bound after 151 Nifty points surge on 24-06-2011 and main features are as follows:-

1- 35 sessions range bound market now.
2- Strong resistance between 5480-5604 (within range).
3- Gap support(on 24-06-2011) between 5330-5343 (within range).
4- Strong support between 5250-533o (below range)
5- Nifty closed almost in the middle of range last Friday
6- Nifty closed above falling resistance trend line from 5604.


Conclusions (After Putting All Studies Together)

Long term and Intermediate term trends are down. Short term trend turned up and Nifty closed well above 18 months Rising trend line after last Friday rally therefore Indian markets are well poised for any side break out of last 35 sessions range.

Good consolidation and support below 5329 therefore Nifty will not easily dip below it and on the same count strong resistances between 5480-5604 also therefore Nifty will not enter in this range immediately.

Expected that Nifty will trade first between 5390-5460 in the coming couple of sessions and prepare for next moves. Indian markets are in range bound mode and preparing for blasting one sided moves within 5329-5604. Let market break out and sustain beyond then long term trending market will be seen. As Whipsaws(False signals) seen below 5329  on 20-06-2011 therefore 5 break out confirmation points have been posted in following topic. Just click link and go through:-

3 Whipsaws(False signals) in Indian markets on 20-06-2011

Within range bound markets possibilities have been discussed above and telling beyond range will be guesing only therefore will not be updated at this moment. Let market prepare for next moves then will be told according to confirmations from intraday charts analysis as up moves and bounce back were told minimum 5 times before the begining of last Friday rally.

Indian markets retraced after cracking down and again trading within 35 sessions range. It is confirm that Indian markets will blast and one sided trending market will be seen after genuine break out of this range. First strong indication of next moves will be sustaining beyond  5360-5477.

4 months Head & Shoulders Pattern in EOD Chart

Nifty- EOD Chart(24-06-2011):-

Just click on chart for its enlarged view

4 Months old big Head & Shoulders Pattern and sustaining below its neckline means bear phase confirmaton and commencement of deeper correction. Its main features are as follows:-

1- 4 months Head & Shoulders Pattern gave strong bearish indications when its neckline was broken down after 141 Nifty points sharp fall on 20-06-2011 
2- Nifty moved above its neckline sharply on 24-06-2011 therefore Indian markets are at present saved from its anger.

Conclusions

HNS is still in existence.it will be valid below its neckine and will be cancelled above its Right Shoulder(5605). Sustaining beyond both lines will be next moves confirmations and should be watched for next moves confirmations.

18 months Rising Trend Line is valid Now

Nifty- EOD Chart(24-06-2011):-

Just click on chart for its enlarged view

18 months Rising Trend Line gave strong bearish indications after 141 Nifty points sharp fall on 20-06-2011 and turned positive after 151 Nifty points surge on 24-06-2011. Mentioned trend line main features are as follows:-

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 on 20-06-2011
4- Nifty recovered and moved above Rising Trend Line on 24-06-2011 after 4 days consolidations below it.

Conclusions

As Nifty could not sustain below and retraced sharply with same force therefore means that 18 months uptrend is still continued and not broken down yet. It is still valid and giving up trend continuation indication but confirmation required after previous week breaking down.. Sustaining above this line will be up trend confirmation.

3 Whipsaws(False signals) in Indian markets on 20-06-2011

All of a sudden 'DTAA renegotiation' news telecasted in Business News Channels and websites  without any specific reference on that day and Indian markets plunged on 20-06-2011.

Certainly it was Well planned and engineered 141 Nifty points 10 minutes fall for creating depressed sentiments,small traders and investors were psychologically compelled to sell their trading positions and investments.

All the technical analysts filters such break outs through following confirmations;-

1- 3 days sustaining beyond.
2- 3% moves moves from break out levels.
3- Increase in volume
4- Forceful break out.
5- Closing beyond.

Market gave all the above confirmations except 3 days sustaining beyond  on 20-06-2011 therefore following line was told in all the 3 following topics:-

"only last technical formality of 3 days sustaining below is left"

1- 18 Months Rising Trend Line Broken Down
2- 34 Sessions Trading Range(5329-5604) Broken Down
3- Head & Shoulders Pattern in 4 months EOD Chart

As soon as intraday charts started to show bullish signals then we immediately told for whipsaw possibility on 22-06-2011 and told following lines in Nifty-Micro Analysis of 3 days Intra Day Chart(Jun 20 to Jun 22,2011):-

1- 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).
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.

When life gives you a hundred of reasons to cry,show life that you have a thousand of reasons to smile.

Steel like Strong Support between 5250-5330

Nifty-Micro Analysis of 5 days Intra Day Chart(Jun 20 to Jun 24,2011)

Nifty-Intra Day Chart(Jun 20 to Jun 24,2011):-

Just click on chart for its enlarged view

Indian markets proved first 4 days trading(5250-5330) range of previous week as strong support after gap up opening and strong rally  on 24-06-2011. Nifty consolidated in last 4 days and most of the time on 24-06-2011 as well as crossed 3 following Resistance ranges in a single day:-

1- Resistance range- 5300-5320
2- Resistance range- 5360-5385
3- Resistance range- 5400-5440

Next crucial Supports & Resistances are as follows:-

1-Srrong resistance range is 5480-5604(First 10 days selling in June 2011)
2-Strong support range is 5250-5330(Previous week 4 days consolidation)
3-Strong support range is 5220-5250(June-July 2010 Flag Formation Strong Support)

Conclusions

Strong supports at lower levels below 5330 therefore will not easily dip below it and complete selling is required for slipping below it. In the same manner strong resistance above 5480 and complete consolidation is also must for any decisive rally above it.

Nifty traded between 5360-5477 on 24-06-2011 and trading range was exactly between mentioned supports and resistances. Nifty will not go anywhere in the next couple of sessions and will trade only within last Friday range to perform preparation procss for next moves.

Above conclusions are drawn from last week intraday chart analysis. Big change in EOD charts patterns and indicators after last Friday strong rally,its analysis with conclusions will be updated  tomorrow and before Monday trading beginning. 

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Nifty-Micro Analysis of Intra Day Chart For 27-06-2011

Nifty-Intra Day Chart(24-06-2011):-

Just click on chart for its enlarged view

Main Features

1- Buying between 5376-5395
2- Buying between 5407-5418
3- Last 1 hour selling between 5453-5475

Conclusions

Vertical rise seen today with intraday consolidations and last 1 hour selling indications seen and minor Rising Wedge(Bearish pattern) is also visible within it. Minor selling pattern at the higher levels is an indication of small down move only and first trading range will be decided according to sentiment Monday morning.

Final conclusions will be posted after Technical Analysis and Researches from EOD charts in the coming topics in next 2 days.

13 Recent Topics,Technical Analysis,News & Research For 27-06-2011 Trading

13 Topics have been posted for 27-06-2011 trading and more topics will be posted today and in next 2 days.Just click at following topics names and go through as well as analyse Chart:-

Topics prepared by Enjoy Daily Profits

1-  Pre-closing Outlook(24-06-2011)
2-  Nifty Spot-Weekly Levels & Trading Strategy(Jun 27 to Jul 01,2011)
3-  Bank Nifty(Jun Fut)-Levels & Trading Strategy for 27-06-2011
4-  Nifty(Jun Fut)-Levels & Trading Strategy for 27-06-2011
5-  Nifty Spot-Levels & Trading Strategy for 27-06-2011
6-  Indian Stock Markets Closing Reports(24-06-2011)
7-  FII & DII trading activity in Capital Market Segment on 24-Jun-2011
8-  FII Trading Data in Derivatives Segment on 24-Jun-2011
9-  Nifty-Micro Analysis of Intra Day Chart For 27-06-2011
10- Steel like Strong Support between 5250-5330
11- 3 Whipsaws(False signals) in Indian markets on 20-06-2011
12- 18 months Rising Trend Line is valid Now
13- 4 months Head & Shoulders Pattern in EOD Chart

FII Trading Data in Derivatives Segment on 24-Jun-2011

FII & DII trading activity in Capital Market Segment on 24-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 24-Jun-2011 3682.65 2792.21 890.44

DII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 24-Jun-2011 1064.62 1551.47 -486.85

Indian Stock Markets Closing Reports(24-06-2011)

Main features of today trading are as follows

1- Long White Candle
2- All the Indices closed positive with good gains.
3- Nifty entered into 34 sessions range again today and Indian markets are now range bound(5329-5604).

Ratios

Nifty Put Call Ratio: 0.93
Nifty P/E Ratio(24-06-2011): 20.17

Advances & Declines

BSE ADVANCES : 1980
BSE DECLINES :  865
NSE ADVANCES : 1162
NSE DECLINES :  271

Nifty Open Interest Changed Today

Nifty- 5300 CE(Jun)- -1426450(-31.36%)
Nifty- 5300 PE(Jun)- +1729950(+23.87%)

Nifty- 5400 CE(Jun)- -1213800(-17.91%)
Nifty- 5400 PE(Jun)- +4905250(+110.68%)

Nifty- 5500 CE(Jun)- -598450(-7.46%)
Nifty- 5500 PE(Jun)- +2778800(+129.51%)

Nifty- 5600 CE(Jun)- -359400(-4.39%)
Nifty- 5600 PE(Jun)- -42650(-4.65%)

Closing 

Nifty- closed at 5,471.25(+151.25 Points & +2.84%)
Sensex- closed at 18,240.68(+513.19 Points & +2.89%)
CNX MIDCAP - closed at 7,799.10(+156.35 Points & +2.05%)
BSE SMALL CAP- closed at 7,922.38(+140.44 Points & +1.80%)

Nifty Spot-Levels & Trading Strategy for 27-06-2011

Nifty Spot-Levels

R3 5651
R2 5564
R1 5517
Avg 5430
S1 5383
S2 5296
S3 5249

Nifty Spot-Trading Strategy

H6 5608     Trgt 2
H5 5576     Trgt 1
H4 5544     Long breakout
H3 5507     Go Short
H2 5495
H1 5483
L1 5458
L2 5446
L3 5434     Long
L4 5397     Short Breakout
L5 5365     Trgt 1
L6 5333     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 27-06-2011

Nifty(Jun Fut)-Levels

R3 5692
R2 5591
R1 5537
Avg 5436
S1 5382
S2 5281
S3 5227

Nifty(Jun Fut)-Trading Strategy

H6 5643     Trgt 2
H5 5606     Trgt 1
H4 5569     Long breakout
H3 5526     Go Short
H2 5512
H1 5498
L1 5469
L2 5455
L3 5441     Long
L4 5398     Short Breakout
L5 5361     Trgt 1
L6 5324     Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 27-06-2011

Bank Nifty(Jun Fut)-Levels

R3 11267
R2 11082
R1 10981
Avg 10796
S1 10695
S2 10510
S3 10409

Bank Nifty(Jun Fut)-Trading Strategy

H6 11173     Trgt 2
H5 11105     Trgt 1
H4 11037     Long breakout
H3 10958     Go Short
H2 10932
H1 10906
L1 10853
L2 10827
L3 10801     Long
L4 10722     Short Breakout
L5 10654     Trgt 1
L6 10586     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Jun 27 to Jul 01,2011)

Nifty Spot-Weekly Levels

R3 5847
R2 5662
R1 5566
Avg 5381
S1 5285
S2 5100
S3 5004

Nifty Spot-Weekly Trading Strategy

H6 5766 Trgt 2
H5 5696 Trgt 1
H4 5625 Long breakout
H3 5548 Go Short
H2 5522
H1 5496
L1 5445
L2 5419
L3 5393 Long
L4 5316 Short Breakout
L5 5245 Trgt 1
L6 5175 Trgt 2

Pre-closing Outlook(24-06-2011)

Nifty is 156 points up and SENSEX is 525 points up today but up moves indications and predictations were started yesterday and following lines were told:-

Mid-session Outlook(23-06-2011) at 11:31:00 AM

Today intraday charts are showing good consolidation at lower levels and it is sign of strength

Pre-closing Outlook(23-06-2011) at 03:27:00 PM

Last 4 hours intraday charts are also showing consolidations indications therefore up moves hopes from here are alive at the closing of today.

Don't Panic from Global markets fall- at 11:49:00 PM on 23-06-2011

up moves hopes from here are alive despite whatsoever weaker global markets cues

Indian stock markets such accurate  predictions are being done daily for the last 4 years. Anyone can verify any time this truth from this blog and from my orkut.com Communities.

Trend reversal confirmation with full force today and Nifty will face next strong Resistance range(5480-5604) in next week. No selling signal today and Indian markets reentered last 34 sessions trading range(5329-5604).

Mentioned 34 sessions trading range(5329-5604) break out and sustaining beyond will be next moves confirmation and till then trading policy should be according to range bound markets.

Mid-session Outlook(24-06-2011)

Intraday patterns are showing consolidations today and yesterday begun rally will remain continued.

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):-

Just click on chart for its enlarged view

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.

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..