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Nifty(Jul Fut)-Levels & Trading Strategy for 14-07-2011
Nifty(Jul Fut)-Levels
R3 5681
R2 5645
R1 5622
Avg 5586
S1 5563
S2 5527
S3 5504
Nifty(Jul Fut)-Trading Strategy
H6 5658 Trgt 2
H5 5644 Trgt 1
H4 5631 Long breakout
H3 5615 Go Short
H2 5609
H1 5604
L1 5593
L2 5588
L3 5582 Long
L4 5566 Short Breakout
L5 5553 Trgt 1
L6 5539 Trgt 2
R3 5681
R2 5645
R1 5622
Avg 5586
S1 5563
S2 5527
S3 5504
Nifty(Jul Fut)-Trading Strategy
H6 5658 Trgt 2
H5 5644 Trgt 1
H4 5631 Long breakout
H3 5615 Go Short
H2 5609
H1 5604
L1 5593
L2 5588
L3 5582 Long
L4 5566 Short Breakout
L5 5553 Trgt 1
L6 5539 Trgt 2
Bank Nifty(Jul Fut)-Levels & Trading Strategy for 14-07-2011
Bank Nifty(Jul Fut)-Levels
R3 11327
R2 11262
R1 11216
Avg 11151
S1 11105
S2 11040
S3 10994
Bank Nifty(Jul Fut)-Trading Strategy
H6 11281 Trgt 2
H5 11256 Trgt 1
H4 11231 Long breakout
H3 11200 Go Short
H2 11190
H1 11180
L1 11159
L2 11149
L3 11139 Long
L4 11108 Short Breakout
L5 11083 Trgt 1
L6 11058 Trgt 2
R3 11327
R2 11262
R1 11216
Avg 11151
S1 11105
S2 11040
S3 10994
Bank Nifty(Jul Fut)-Trading Strategy
H6 11281 Trgt 2
H5 11256 Trgt 1
H4 11231 Long breakout
H3 11200 Go Short
H2 11190
H1 11180
L1 11159
L2 11149
L3 11139 Long
L4 11108 Short Breakout
L5 11083 Trgt 1
L6 11058 Trgt 2
Nifty Spot-Levels & Trading Strategy for 14-07-2011
Nifty Spot-Levels
R3 5662
R2 5629
R1 5607
Avg 5574
S1 5552
S2 5519
S3 5497`
Nifty Spot-Trading Strategy
H6 5640 Trgt 2
H5 5627 Trgt 1
H4 5615 Long breakout
H3 5600 Go Short
H2 5595
H1 5590
L1 5579
L2 5574
L3 5569 Long
L4 5554 Short Breakout
L5 5542 Trgt 1
L6 5529. Trgt 2
R3 5662
R2 5629
R1 5607
Avg 5574
S1 5552
S2 5519
S3 5497`
Nifty Spot-Trading Strategy
H6 5640 Trgt 2
H5 5627 Trgt 1
H4 5615 Long breakout
H3 5600 Go Short
H2 5595
H1 5590
L1 5579
L2 5574
L3 5569 Long
L4 5554 Short Breakout
L5 5542 Trgt 1
L6 5529. Trgt 2
Pre-closing Outlook(13-07-2011)
Following lines were told within first 45 minutes today in Post-open Outlook
1- Nifty will trade now between yesterday selling range (5550-5578) and prepare for next moves. Coming hours trading patterns (consolidation/distribution) will give next moves first signal.
2- Next moves and trend confirmation will be sustaining beyond 5550-5578.
Nifty traded whole day within mentioned very small range and intraday patterns are showing consolidation today as well as possibility of sustaining above 5578 is higher also but confirmation is must through sustaining above 5578 or forceful up move above 5578 because global markets pressure is high nowadays.
1- Nifty will trade now between yesterday selling range (5550-5578) and prepare for next moves. Coming hours trading patterns (consolidation/distribution) will give next moves first signal.
2- Next moves and trend confirmation will be sustaining beyond 5550-5578.
Nifty traded whole day within mentioned very small range and intraday patterns are showing consolidation today as well as possibility of sustaining above 5578 is higher also but confirmation is must through sustaining above 5578 or forceful up move above 5578 because global markets pressure is high nowadays.
Post-open Outlook(13-07-2011)
Yesterday down moves were the result of crashing global markets and Indian markets are trading strong after getting positive Asian cues. Nifty has almost crossed yesterday selling range(5550-5578) within first 25 minutes of trading and made high at 5578.90. It is sign of strength but Nifty will trade now between yesterday selling range (5550-5578) and prepare for next moves. Coming hours trading patterns (consolidation/distribution) will give next moves first signal. Next moves and trend confirmation will be sustaining beyond 5550-5578.
Technical Analysis,Researches & Market Outlook(13-07-2011)
Global storm and weaker IIP data reaction was so heavy yesterday that Nifty traded whole day below 200 Day EMA(5582) after gap down opening and followed global trend through deep Red closing. Nifty traded 8 days above between 5602-5738 and re-entered into last 39 sessions range(5329-5604) yesterday and Indian markets again turned into range bound mode within following 2 ranges:-
1- 5329-5628
2- 5178-5738
Nifty-Micro Analysis of Intra Day Chart For 13-07-2011
Nifty-Intra Day Chart(12-Jul-2011):-
Technical Patterns and Formations in intraday charts
1- Selling between- 5550-5578
2- Mixed Patterns between- 5500-5538
Conclusions (After Putting All Studies Together)
As intraday selling below 5600 yesterday therefore Nifty requires complete consolidation for crossing 5600. Correction is on and follow up selling today will mean more down moves. Nifty will first trade between 5500-5538 and follow up buying/selling between this range will give next moves first indication.
Next trading range is 5500-5578 and next moves confirmation will be sustaining beyond this range.Nifty will trade first between 5500-5538 today and crossing of this range will be first indication of next moves.
Trading between 5500-5538 will be watched first and conclusions will be updated in Mid-session Outlooks according to next moves confirmations.
1- 5329-5628
2- 5178-5738
Nifty-Micro Analysis of Intra Day Chart For 13-07-2011
Nifty-Intra Day Chart(12-Jul-2011):-
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| Just click on chart for its enlarged view |
1- Selling between- 5550-5578
2- Mixed Patterns between- 5500-5538
Conclusions (After Putting All Studies Together)
As intraday selling below 5600 yesterday therefore Nifty requires complete consolidation for crossing 5600. Correction is on and follow up selling today will mean more down moves. Nifty will first trade between 5500-5538 and follow up buying/selling between this range will give next moves first indication.
Next trading range is 5500-5578 and next moves confirmation will be sustaining beyond this range.Nifty will trade first between 5500-5538 today and crossing of this range will be first indication of next moves.
Trading between 5500-5538 will be watched first and conclusions will be updated in Mid-session Outlooks according to next moves confirmations.
Crashing Global Markets Vs Supports at 5600 & 200 Day EMA
Market Outlook(12-07-2011)
Technical Analysis and Research of EOD and weekly charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 2 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 12-07-2011
2- Rally after correction & Consolidation between 5610-5700
3- 2 Bullish Formations in EOD Charts
4- Nifty-Waves Structure From Jan 2008 Crash & Strength of Indian markets
Conclusions (After Putting All Studies Together)
Correction was expected and it was told also in all the outlooks which were updated for yesterday and this week. 5606-5628 had been strong support and and Nifty traded within this range more than 3 hours with intraday consolidation patterns yesterday. US markets are sharp down and Dow Jones is trading more than 180 points down and such weak closing will hamper the sentiment today morning and Red zone opening below 5600 possibility can not be ruled out but sustaining beyond 5600 will be strong indication of next trend.
Whatsoever may be bearish global cues but 5600 is strong support and and until Nifty will not sustain below 200 Day EMA(5582) till then view will not be bearish. Indian markets are in corrective mode and global markets are tanking therefore more weakness may be seen but firstly sustaining beyond 5600 and after that 200 Day EMA(5582) should be watched for next immediate moves confirmation.
As consolidation yesterday therefore finally up moves after more consolidations between 5582-5628 expected and sustaining beyond this range will be next moves confirmations.
Nifty-Micro Analysis of Intra Day Chart For 12-07-2011
Nifty-Intra Day Chart(11-Jul-2011):-
Technical Patterns and Formations in today intraday charts:-
1- Condolidation between 5602-5604
2- Falling Wedge(Bullish) Pattern Formation
Conclusions
Intraday support and consolidation at lower levels today. As all the global markets closed deep Red today therefore sharp correction seen but Nifty closed above 5610 on expected lines and again consolidated between previous support range of 5606-5628.
Dow Jones is more than 175 points down at this moment and such weak closing will mean possibility of trading below 5600 tomorrow and sustaining beyond 5600 be first watched tomorrow for next moves confirmation.
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1- Condolidation between 5602-5604
2- Falling Wedge(Bullish) Pattern Formation
Conclusions
Intraday support and consolidation at lower levels today. As all the global markets closed deep Red today therefore sharp correction seen but Nifty closed above 5610 on expected lines and again consolidated between previous support range of 5606-5628.
Dow Jones is more than 175 points down at this moment and such weak closing will mean possibility of trading below 5600 tomorrow and sustaining beyond 5600 be first watched tomorrow for next moves confirmation.
FII & DII trading activity in Capital Market Segment on 11-Jul-2011
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Indian Stock Markets Closing Reports(11-Jul-2011)
Main features of today trading are as follows
1- Black Candle.
2- Nifty got support at 5600 again
3- Most of the Indices in Red.
Ratios
Nifty Put Call Ratio: 0.99
Nifty P/E Ratio(12-07-2011): 20.67
Advances & Declines
BSE ADVANCES : 1235
BSE DECLINES : 1631
NSE ADVANCES : 529
NSE DECLINES : 858
Nifty Open Interest Changed Today
Nifty- 5600 CE(Jul)- +113150(+2.26%)
Nifty- 5600 PE(Jul)- -526550(-8.35%)
Nifty- 5700 CE(Jul)- +1155900(+17.66%)
Nifty- 5700 PE(Jul)- -270450 (-7.54%)
Closing
Nifty- closed at 5,616.10(-44.55 Points & -0.79%)
Sensex- closed at 18,721.39(-136.65 Points & -0.72% )
CNX MIDCAP - closed at 8,097.70(-18.20 Points & -0.22%)
BSE SMALL CAP- closed at 8,339.88(-35.26 Points & -0.42%)
1- Black Candle.
2- Nifty got support at 5600 again
3- Most of the Indices in Red.
Ratios
Nifty Put Call Ratio: 0.99
Nifty P/E Ratio(12-07-2011): 20.67
Advances & Declines
BSE ADVANCES : 1235
BSE DECLINES : 1631
NSE ADVANCES : 529
NSE DECLINES : 858
Nifty Open Interest Changed Today
Nifty- 5600 CE(Jul)- +113150(+2.26%)
Nifty- 5600 PE(Jul)- -526550(-8.35%)
Nifty- 5700 CE(Jul)- +1155900(+17.66%)
Nifty- 5700 PE(Jul)- -270450 (-7.54%)
Closing
Nifty- closed at 5,616.10(-44.55 Points & -0.79%)
Sensex- closed at 18,721.39(-136.65 Points & -0.72% )
CNX MIDCAP - closed at 8,097.70(-18.20 Points & -0.22%)
BSE SMALL CAP- closed at 8,339.88(-35.26 Points & -0.42%)
Nifty Spot-Levels & Trading Strategy for 12-07-2011
Nifty Spot-Levels
R3 5696
R2 5674
R1 5645
Avg 5623
S1 5594
S2 5572
S3 5543
Nifty Spot-Trading Strategy
H6 5667 Trgt 2
H5 5655 Trgt 1
H4 5644 Long breakout
H3 5630 Go Short
H2 5625
H1 5620
L1 5611
L2 5606
L3 5601 Long
L4 5587 Short Breakout
L5 5576 Trgt 1
L6 5564 Trgt 2
R3 5696
R2 5674
R1 5645
Avg 5623
S1 5594
S2 5572
S3 5543
Nifty Spot-Trading Strategy
H6 5667 Trgt 2
H5 5655 Trgt 1
H4 5644 Long breakout
H3 5630 Go Short
H2 5625
H1 5620
L1 5611
L2 5606
L3 5601 Long
L4 5587 Short Breakout
L5 5576 Trgt 1
L6 5564 Trgt 2
Nifty(Jul Fut)-Levels & Trading Strategy for 12-07-2011
Nifty(Jul Fut)-Levels
R3 5703
R2 5681
R1 5649
Avg 5627
S1 5595
S2 5573
S3 5541
Nifty(Jul Fut)-Trading Strategy
H6 5671 Trgt 2
H5 5658 Trgt 1
H4 5646 Long breakout
H3 5631 Go Short
H2 5626
H1 5621
L1 5612
L2 5607
L3 5602 Long
L4 5587 Short Breakout
L5 5575 Trgt 1
L6 5562 Trgt 2
R3 5703
R2 5681
R1 5649
Avg 5627
S1 5595
S2 5573
S3 5541
Nifty(Jul Fut)-Trading Strategy
H6 5671 Trgt 2
H5 5658 Trgt 1
H4 5646 Long breakout
H3 5631 Go Short
H2 5626
H1 5621
L1 5612
L2 5607
L3 5602 Long
L4 5587 Short Breakout
L5 5575 Trgt 1
L6 5562 Trgt 2
Bank Nifty(Jul Fut)-Levels & Trading Strategy for 12-07-2011
Bank Nifty(Jul Fut)-Levels
R3 11423
R2 11359
R1 11249
Avg 11185
S1 11075
S2 11011
S3 10901
Bank Nifty(Jul Fut)-Trading Strategy
H6 11314 Trgt 2
H5 11275 Trgt 1
H4 11235 Long breakout
H3 11187 Go Short
H2 11171
H1 11155
L1 11124
L2 11108
L3 11092 Long
L4 11044 Short Breakout
L5 11005 Trgt 1
L6 10965 Trgt 2
R3 11423
R2 11359
R1 11249
Avg 11185
S1 11075
S2 11011
S3 10901
Bank Nifty(Jul Fut)-Trading Strategy
H6 11314 Trgt 2
H5 11275 Trgt 1
H4 11235 Long breakout
H3 11187 Go Short
H2 11171
H1 11155
L1 11124
L2 11108
L3 11092 Long
L4 11044 Short Breakout
L5 11005 Trgt 1
L6 10965 Trgt 2
Pre-closing Outlook(11-07-2011)
Correction was expected and also told 2/3 times in previous outlooks. As sentiment was depressed due to global markets weakness therefore little deeper correction was seen today. Nifty traded within 5602-5652 with intraday consolidation patterns today therefore expected that finally up moves above 5652 are expected in the coming sessions.
Mid-session Outlook-2 (11-07-2011)
US Futures is trading 65 points down and all the global markets are trading or closed in Red except SSE Composite Index. Strong support between 5606-5628 and Nifty is trading between this range for the last one hour. Break out of this range will decide next Indian markets. As intraday pattterns are showing consolidations therefore finally up moves are expected.
Mid-session Outlook(11-07-2011)
All the Asian markets are in Red and Dow'futures is trading 47 points down therefore sentiment is depressed since morning today and Indian markets are down and also slipped form intraday higher levels.
Intraday patterns of are mixed and first 3 hours trading range(5622-5652) will be watched for next moves confirmations.
Intraday patterns of are mixed and first 3 hours trading range(5622-5652) will be watched for next moves confirmations.
Rally after correction & Consolidation between 5610-5700
Weekly Outlook(Jul 11 to Jul 15,2011)
Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 3 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 11-07-2011
2- Nifty-Waves Structure From Jan 2008 Crash & Strength of Indian markets
3- 2 Bullish Formations in EOD Charts
Nifty-EOD Chart(08-Jul-2011):-
Technical Patterns and Formations in EOD charts
1- Wave-4 completed correction in 'ABC' Pattern.
2- Impulsive Wave-5 is on.
3- Resistance at 200-Day SMA(5742)
4- Support above 200-Day EMA(5582)
5- Resistance at Falling Trend line last Friday.
6- 200-Day SMA is above Falling Trend line.
Conclusions
Immediate Supports and Resistances are as follows:-
1- Strong support between 5606-5628
2- Resistance between 5705-5728
Trend confirmation levels:-
1- Uptrend confirmation level is 200-Day SMA(5742) which is above Falling Trend line and sustaining above it will mean break out of that trend which stopped uptrend 3 times earlier.
2- Downtrend confirmation level is 200-Day EMA(5582) which is below strong support range of 5606-5628. Sustaining below it will mean trend reversal.
Indicators Analysis
Weekly indicators are below overbought zone,moving in upside direction and MACD intersected Average line upward therefore indicating big uptrend formation. Daily Indicators are in overbought zone and some are showing downward moves therefore showing some down moves.
Minor correction expected to cool down indicators and sentiments. As weekly indicators are telling for more upmoves possibility therefore Indicators are signalling more upmoves after some correction.
Conclusions (After putting all studies together)
Uptrend is very much intact,corrections are its parts and was seen last Friday.Now any Bearish market will not be considered until complete distribution patterns will not be seen minimum on EOD charts,
Expexted that Nifty will first trade between 5610-5700 in whatsoever bearish/bullish sentiment in the beginning of next week and also expected that Nifty will firstly consolidate between this range in the coming sessions.
Expected that Nifty will finally cross resistance range(5705-5728) of last Friday and rally above 200-Day SMA(5742) will be seen.
Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topics with 3 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 11-07-2011
2- Nifty-Waves Structure From Jan 2008 Crash & Strength of Indian markets
3- 2 Bullish Formations in EOD Charts
Nifty-EOD Chart(08-Jul-2011):-
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| Just click on chart for its enlarged view |
1- Wave-4 completed correction in 'ABC' Pattern.
2- Impulsive Wave-5 is on.
3- Resistance at 200-Day SMA(5742)
4- Support above 200-Day EMA(5582)
5- Resistance at Falling Trend line last Friday.
6- 200-Day SMA is above Falling Trend line.
Conclusions
Immediate Supports and Resistances are as follows:-
1- Strong support between 5606-5628
2- Resistance between 5705-5728
Trend confirmation levels:-
1- Uptrend confirmation level is 200-Day SMA(5742) which is above Falling Trend line and sustaining above it will mean break out of that trend which stopped uptrend 3 times earlier.
2- Downtrend confirmation level is 200-Day EMA(5582) which is below strong support range of 5606-5628. Sustaining below it will mean trend reversal.
Indicators Analysis
Weekly indicators are below overbought zone,moving in upside direction and MACD intersected Average line upward therefore indicating big uptrend formation. Daily Indicators are in overbought zone and some are showing downward moves therefore showing some down moves.
Minor correction expected to cool down indicators and sentiments. As weekly indicators are telling for more upmoves possibility therefore Indicators are signalling more upmoves after some correction.
Conclusions (After putting all studies together)
Uptrend is very much intact,corrections are its parts and was seen last Friday.Now any Bearish market will not be considered until complete distribution patterns will not be seen minimum on EOD charts,
Expexted that Nifty will first trade between 5610-5700 in whatsoever bearish/bullish sentiment in the beginning of next week and also expected that Nifty will firstly consolidate between this range in the coming sessions.
Expected that Nifty will finally cross resistance range(5705-5728) of last Friday and rally above 200-Day SMA(5742) will be seen.
2 Bullish Formations in EOD Charts
20 Months Rising Trend Line & Pennant Formations
Nifty-EOD Chart(08-Jul-2011):-
Technical Positions EOD charts
1- Started on 03-11-2009 from 4538
2- Nifty got support on it 7 times in last 20 months
3- Rising Trend Line broken down but moved above it sharply
4- Continuation Pattern Pennant Formations.
5- Falling Trend line of Pennant.
Conclusions
Nifty got support 7 times in last 20 Months at rising trend line. Although Nifty slipped below it after 'DTAA renegotiation' news in June 2011 but again moved above if after 4 days consolidation below it therefore mentioned rising trend line is very much intact and indicating up trend in Indian markets.
Corrective Wave-4 begun on 05-11-2010 from 6338 and Wave 5 started on 11-02-2011 from 5178. Last 8 months pre-correction and post-correction pattern is big Pennant which is continuation pattern. As larger trend is up therefore Continuation Pennant Pattern formation is also an indication of uptrend.
Nifty tested falling trend line of Pennant in 2 previous sessions and sustaining above it will be confirmation of next Bullish phase. Expected that Nifty will finally sustain above it and fresh up trend will be seen after possible correction in the beginning next week.
Nifty-EOD Chart(08-Jul-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 7 times in last 20 months
3- Rising Trend Line broken down but moved above it sharply
4- Continuation Pattern Pennant Formations.
5- Falling Trend line of Pennant.
Conclusions
Nifty got support 7 times in last 20 Months at rising trend line. Although Nifty slipped below it after 'DTAA renegotiation' news in June 2011 but again moved above if after 4 days consolidation below it therefore mentioned rising trend line is very much intact and indicating up trend in Indian markets.
Corrective Wave-4 begun on 05-11-2010 from 6338 and Wave 5 started on 11-02-2011 from 5178. Last 8 months pre-correction and post-correction pattern is big Pennant which is continuation pattern. As larger trend is up therefore Continuation Pennant Pattern formation is also an indication of uptrend.
Nifty tested falling trend line of Pennant in 2 previous sessions and sustaining above it will be confirmation of next Bullish phase. Expected that Nifty will finally sustain above it and fresh up trend will be seen after possible correction in the beginning next week.
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