No Support in 154 Points Zone

Technical Analysis and Research For 29-07-2011

Nifty-EOD Chart(28-Jul-2011):-

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Technical Patterns and Formations in EOD charts

1- Nifty traded and closed most of the day yesterday below crucial support of 5497.
2- Last 22 sessions structure with lower top(T2) broken down yesterday.
3- Higher levels selling in intraday charts yesterday which has been updated in Nifty-Micro Analysis of Intra Day Chart For 29-07-2011.

Conclusions

Last 22 sessions structure finally proved a Bearish formations and next support range is 5252-5343. No support between 5343-5497 and 154 points fall is possible after 5497 breaking down.

Indian markets have already given breaking down of 22 sessions range and global cres also weak today morning therefore negative closing will be seen today after gap down opening and whole day Red zone trading.

Nifty-Micro Analysis of Intra Day Chart For 29-07-2011

Nifty-Intra Day Chart(28-Jul-2011):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 5492-5500
2- Buying between 5475-5485
3- Last 2 hours selling between 5492-5506

Conclusions

Nifty closed below 5497 and also selling seen near about it. As today negative zone market was result of depressed global cues therefore sustaining beyond today range(5475-5510) will be next moves confirmation but higher levels selling today therefore down moves possibilities are high.

FII Trading Data in Derivatives Segment on 28-Jul-2011

FII & DII trading activity in Capital Market Segment on 28-Jul-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 28-Jul-2011 4126.11 4061.45 64.66

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 28-Jul-2011 1878.11 1468.77 409.34

Indian Stock Markets Closing Reports(28-Jul-2011)

Main features of today trading are as follows

1- Doji Candle Formation
2- Red closing after gap down opening.
3- All the Indices closed in Red except FMCG.

Ratios

Nifty Put Call Ratio: 0.89
Nifty P/E Ratio(28-Jul-2011) :19.86

Advances & Declines

BSE ADVANCES : 925
BSE DECLINES : 1941
NSE ADVANCES : 361
NSE DECLINES : 1071

Nifty Open Interest Changed Today

Nifty- 5400 CE(Aug)- -170250(-37.45%)
Nifty- 5400 PE(Aug)- +2917500(+39.18%)

Nifty- 5500 CE(Aug)- +1545050(+20.67%)
Nifty- 5500 PE(Aug)- -4536900(-48.32%)

Closing 

Nifty- closed at 5,487.75(-59.05 Points & -1.06%)
Sensex- closed at 18,209.52(-222.73 Points & -1.21% )
CNX MIDCAP - closed at 8,046.20(-67.95 Points & -0.84%)
BSE SMALL CAP- closed at 8,361.42(-78.69 Points & -0.93%)

Nifty Spot-Levels & Trading Strategy for 29-07-2011

Nifty Spot-Levels

R3 5544
R2 5528
R1 5507
Avg 5491
S1 5470
S2 5454
S3 5433

Nifty Spot-Trading Strategy

H6 5524     Trgt 2
H5 5515     Trgt 1
H4 5507     Long breakout
H3 5497     Go Short
H2 5493
H1 5490
L1 5483
L2 5480
L3 5476     Long
L4 5466     Short Breakout
L5 5458     Trgt 1
L6 5449     Trgt 2

Nifty(Aug Fut)-Levels & Trading Strategy for 29-07-2011

Nifty(Aug Fut)-Levels

R3 5565
R2 5545
R1 5521
Avg 5501
S1 5477
S2 5457
S3 5433

Nifty(Aug Fut)-Trading Strategy

H6 5542     Trgt 2
H5 5532     Trgt 1
H4 5522     Long breakout
H3 5510     Go Short
H2 5506
H1 5502
L1 5493
L2 5489
L3 5485     Long
L4 5473     Short Breakout
L5 5463     Trgt 1
L6 5453     Trgt 2

Bank Nifty(Aug Fut)-Levels & Trading Strategy for 29-07-2011

Bank Nifty(Aug Fut)-Levels

R3 11084
R2 11032
R1 10948
Avg 10896
S1 10812
S2 10760
S3 10676

Bank Nifty(Aug Fut)-Trading Strategy

H6 11000     Trgt 2
H5 10969     Trgt 1
H4 10938     Long breakout
H3 10901     Go Short
H2 10888
H1 10876
L1 10851
L2 10839
L3 10826     Long
L4 10789     Short Breakout
L5 10758     Trgt 1
L6 10727     Trgt 2

Pre-closing Outlook(28-07-2011)

Only 5497 was told for confirmation and Nify embraced this level whole day today with some intraday buying below it and selling near about it. Minor selling seen in last 2 hours between 5492-5506 therefore sustaining below of this range is possible now.

Firstly sustaining below 5492 and then sustaining below 5475 should be watched for down moves confirmations. As today negative zone market is result of depressed global cues therefore sustaining beyond today range(5475-5510) will be next moves confirmation.

Mid-session Outlook(28-07-2011)

First 2 hours technical positions are as follows:-

Selling formations between 5492-5500 
Buying formations between 5475-5485

Nifty is hovering around 5497. Both buying and selling between 25 points range of 5475-5500 and this range break out should be firstly watced for next moves confirmations. 

Market is at crucial support and trend decider 5497 therefore break out complete confirmation is must.

Post-open Outlook-2(28-07-2011)

Selling formations between 5492-5500 today and until Nifty will not move above 5500 till then any up move will not be considered and more down moves possibilities are high.

Post-open Outlook(28-07-2011)

Selling at higher levels today and it is confirmation of 5497 breaking down.

Pre-open Outlook(28-07-2011)

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

Indian Markets Trend Deciding Level-5497

As it was expected that Global cues will be depressed today morning therefore importance of 5497 has already been updated in above topic yesterday. Crashing global markets and sentiment is completely dampened today morning therefore expected that Nifty will trade below 5500 and sustaining beyond 5497 will be next big trend confirmation.

Range bound markets betweeen 5178-5740 for the last 5 months and until Nifty is walking between this field till then targets should remain within it with stop loss beyond this area and all the supports and resistances at every point should be watched for next moves confirmations. 5497 is strong support and its breaking or saving will give confirmation to Long Term Trend.

As global cues are most bearish therefore Red closing after gap down opening and whole day negative zone trading is very much possible but coming sessions market will be decided according to next moves preparation near 5497. Let market prepare for next moves near 5497 then coming days market will be decided according to intraday charts formations and conslusions will be updated in Mid-session Outlooks. 

Indian Markets Trend Deciding Level-5497

Technical Analysis,Researches & Tomorrow Market Outlook(28-07-2011)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between- 5568-5583
2- Buying between 5522-5532

Conclusions

Selling at higher levels and minor buying at lower level as well therefore range bound market between 5522-5584 today and if global sentiments remain quiet tomorrow morning then Nifty will trade within mentioned today trading range.

Nifty-EOD Chart(27-Jul-2011):-

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Conclusions (After Putting All Studies Together)

Nifty has moved below 5600 therefore Indian markets are again in 5 months old range(5200-5600) and sustaining beyond 5522-5584 will decide that yesterday started correction is complete at today lower levels support or deeper correction possibility below today's lows. Levels have been explained and next supports are as follows:-

1- 5497-5530
2- 5250-5350

Sustaining beyond 5497 must be watched and sustaining below it will be deeper correction confirmation because;-

1- 5497-5530 is strong support and sustaining beyond 5497 will be stong support breaking down.
2- Nifty got support 2 times at 5497 in last 22 sessions and sustaining beyond 5497 will be stong support failure.
3- Nifty traded between 5497-5740 in last 22 sessions and sustaining beyond 5497 will be 22 sessions range breaking down.

Saving or breaking down of crucial support at 5497 will decide next trend. Sustaining below 5497 will be confirmation of all trends turning down and deeper correction. Sustaing above 5497 will be revival of bullish markets hopes.


Just watch sustaining beyond 5497 for next big move confirmations.

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

Main features of today trading are as follows

1- Last 12 sessions low(5497) saved and Nifty got support above it at 5522.
2- Most of the Indices got intraday support at lower levels.
3- Black Candle.


Ratios

Nifty Put Call Ratio: 0.93
Nifty P/E Ratio(27-Jul-2011): 20.09

Advances & Declines

BSE ADVANCES : 1314
BSE DECLINES : 1550
NSE ADVANCES : 584
NSE DECLINES : 831

Nifty Open Interest Changed Today

Nifty- 5500 CE(Jul)- +1890550(+33.17%)
Nifty- 5500 PE(Jul)- -1052350(-9.41%)

Nifty- 5600 CE(Jul)- +1892750(+21.38%)
Nifty- 5600 PE(Jul)- -982200(-13.17%)

Closing 

Nifty- closed at 5,546.80(-28.05 Points & -0.50%)
Sensex- closed at 18,432.25(-85.97 Points & -0.46% )
CNX MIDCAP - closed at 8,114.15(-5.15 Points & -0.06%)
BSE SMALL CAP- closed at 00.00(+2.43 Points & +0.03%)

Nifty Spot-Levels & Trading Strategy for28-07-2011

Nifty Spot-Levels

R3 5654
R2 5622
R1 5584
Avg 5552
S1 5514
S2 5482
S3 5444

Nifty Spot-Trading Strategy

H6 5616     Trgt 2
H5 5600     Trgt 1
H4 5584     Long breakout
H3 5565     Go Short
H2 5558
H1 5552
L1 5539
L2 5533
L3 5526     Long
L4 5507     Short Breakout
L5 5491     Trgt 1
L6 5475     Trgt 2

Nifty(Jul Fut)-Levels & Trading Strategy for28-07-2011

Nifty(Jul Fut)-Levels

R3 5654
R2 5621
R1 5584
Avg 5551
S1 5514
S2 5481
S3 5444

Nifty(Jul Fut)-Trading Strategy

H6 5617     Trgt 2
H5 5601     Trgt 1
H4 5585     Long breakout
H3 5566     Go Short
H2 5559
H1 5553
L1 5540
L2 5534
L3 5527     Long
L4 5508     Short Breakout
L5 5492     Trgt 1
L6 5476     Trgt 2

Bank Nifty(Jul Fut)-Levels & Trading Strategy for28-07-2011

Bank Nifty(Jul Fut)-Levels

R3 11277
R2 11202
R1 11109
Avg 11034
S1 10941
S2 10866
S3 10773

Bank Nifty(Jul Fut)-Trading Strategy

H6 11184     Trgt 2
H5 11146     Trgt 1
H4 11108     Long breakout
H3 11062     Go Short
H2 11046
H1 11031
L1 11000
L2 10985
L3 10969     Long
L4 10923     Short Breakout
L5 10885     Trgt 1
L6 10847     Trgt 2

Pre-closing Outlook(27-07-2011)

Indian markets traded negative most of the time and also expected to close in Red today but support seen at lower level between 5522-5532. Selling at higher levels and buying at lower levels today therefore expected that Nifty will once again trade between 5522-5584 tomorrow for shifting of positions to next derivative settlement.

As Nifty moved below 5600 therefore Indian markets are again in 5 months old range(5350-5600) and sustaining beyond 5522-5584 will decide that yesterday started correction is complete at today lower levels support or deeper correction below today's lows.

Mid-session Outlook-3(27-07-2011)

Intraday support seen between 5522-5532.

Mid-session Outlook-2(27-07-2011)

Nifty moved below 5557 therefore mentioned range is broken down  and more down moves confirmations.