Nifty-Micro Analysis of Intra Day Chart For 28-06-2011

Nifty-Intra Day Chart(27-06-2011):-

Just click on chart for its enlarged view

Main Features

Most time trading range- 5515-5530
Wider trading range- 5515-5552

Conclusions

Most of the time Nifty traded between 15 points therefore intraday patterns are not clear and mixed today between 5515-5530. Next moves confirmations will be through sustaining beyond today wider trading range(5515-5552).

FII Trading Data in Derivatives Segment on 27-Jun-2011

FII & DII trading activity in Capital Market Segment on 27-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 27-Jun-2011 3754 2306.58 1447.42

DII trading activity on NSE and BSE in Capital Junket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 27-Jun-2011 933.65 1700.03 -766.38

Indian Stock Markets Closing Reports(27-06-2011)

Main features of today trading are as follows

1- Long White Candle.
2- Whole day trading at higher levels.
3- Most Indices closed in Green except Reality and FMCG.

Ratios

Nifty Put Call Ratio: 0.99
Nifty P/E Ratio(27-06-2011):20.38

Advances & Declines

BSE ADVANCES : 1628
BSE DECLINES : 1223
NSE ADVANCES :  880
NSE DECLINES :  517

Nifty Open Interest Changed Today

Nifty- 5500 CE(Jun)- -1031250(-14.67%)
Nifty- 5500 PE(Jun)- +1816250(+36.78%)

Nifty- 5600 CE(Jun)- +354800(+4.71%)
Nifty- 5600 PE(Jun)- +3064050(+376.07%)

Closing 

Nifty- closed at 5530.25(+55.35 Points & +1.01%)
Sensex- closed at 18,412.41(+171.73 Points & +0.94% )
CNX MIDCAP - closed at 7,902.75(+103.65 Points & +1.33%)
BSE SMALL CAP- closed at 7,985.89(+63.51 Points & +0.80%)

Nifty Spot-Levels & Trading Strategy for 28-06-2011

Nifty Spot-Levels

R3 5692
R2 5622
R1 5574
Avg 5504
S1 5456
S2 5386
S3 5338

Nifty Spot-Trading Strategy

H6 5646     Trgt 2
H5 5618     Trgt 1
H4 5590    Long breakout
H3 5558     Go Short
H2 5547
H1 5536
L1 5515
L2 5504
L3 5493     Long
L4 5461     Short Breakout
L5 5433     Trgt 1
L6 5406     Trgt 2

Nifty(Jun Fut)-Levels & Trading Strategy for 28-06-2011

Nifty(Jun Fut)-Levels

R3 5695
R2 5627
R1 5580
Avg 5512
S1 5465
S2 5397
S3 5350

Nifty(Jun Fut)-Trading Strategy

H6 5650     Trgt 2
H5 5624     Trgt 1
H4 5597     Long breakout
H3 5565     Go Short
H2 5555
H1 5544
L1 5523
L2 5512
L3 5502     Long
L4 5470     Short Breakout
L5 5443     Trgt 1
L6 5417   Trgt 2

Bank Nifty(Jun Fut)-Levels & Trading Strategy for 28-06-2011

Bank Nifty(Jun Fut)-Levels

R3 11449
R2 11271
R1 11165
Avg 10987
S1 10881
S2 10703
S3 10597

Bank Nifty(Jun Fut)-Trading Strategy

H6 11349     Trgt 2
H5 11282     Trgt 1
H4 11215    Long breakout
H3 11137     Go Short
H2 11111
H1 11085
L1 11032
L2 11006
L3 10980     Long
L4 10902     Short Breakout
L5 10835     Trgt 1
L6 10768     Trgt 2

Pre-closing Outlook(27-06-2011)

Today trading range is 5515-5552 and Nifty traded most of the time between 5515-5530. Intraday charts of today are mixed and suggesting for confirmations through sustaining beyond today range. Market has to consolidate between 5500-5600 for and upmove because it is strong resistance range.

Sustaining beyond 5500-5550 will give next move confirmation tomorrow.

Mid-session Outlook-2(27-06-2011)

Following line was told when Nifty was trading above 5550 today:-

moved above 5530 and sustaining above it will mean rally continuation high possibility with regular consolidations within resistance range(5480-5604).

Nifty could not sustain above 5530 and trading within first 3 hours trading range(5515-5530) and it will be better to to get next immediate moves first  confirmations from sustaining beyond this range.

Mid-session Outlook(27-06-2011)

As sentiment turned heated today morning therefore minor intraday correction possibility was told within first hour and Nifty traded range bound between 5515-5530 in next 2 hours.

Bullish market corrects in range bound modes therefore Nifty completed minor intraday correction between 5515-5530,then moved above 5530 and sustaining above it will mean rally continuation high possibility with regular consolidations within resistance range(5480-5604).

Post-open Outlook-3(27-06-2011)

As sentiment turned heated immediately after sharp rise today morning therefore minor intraday correction is possible.

Post-open Outlook-2(27-06-2011)

Bull in full force,no respite for Bear. Forcefully crossed 5481 and trading within resistance range(5480-5605). Strong indications of Bull markets beginning and confirmation will be sustaining above mentioned resistance range.

Post-open Outlook(27-06-2011)

Indian markets denied global cues and outperforming global markets after Red opening today morning. Nifty is trading within last Friday selling range 5453-5475.Next moves confirmation ranges are as follows:-

1- 5453-5481
2- 5390-5481
3- 5360-5481

Strong resistance between 5480-5604 therefore Nifty will prepare for next moves between above mentioned ranges. Indian markets showed strength immediately after opening today and sustaining  above mentioned 1st range will be next move strong indication.

Pre-open Outlook(27-06-2011)

Technical Positions,today Outlook and next possibilities have already been explained in following topic therefore not being repeated:-

Indian Markets are poised for Blasting Big Moves

Following lines were told in Nifty-Micro Analysis of Intra Day Chart For 27-06-2011:-

1- Last 1 hour selling between 5453-5475
2-  last 1 hour selling indications seen and minor Rising Wedge(Bearish pattern) is also visible within it.
3- 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.

As minor selling patterns seen therefore following trading range was given in Indian Markets are poised for Blasting Big Moves

Expected that Nifty will trade first between 5390-5460 in the coming couple of sessions

All the Asian markets are negative today morning after US markets Red closing last Friday therefore Indian markets will open weak and trade within above mentioned range,whole day trading and closing expected within this range today.

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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