Gap up opening today but not strong.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Bullish'W' Pattern in last 47 sessions
Technical Analysis and Research For 17-10-2011
Nifty-EOD Chart(14-Oct-2011):-
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| Just click on chart for its enlarged view |
1- Bullish'W' Pattern in last 47 sessions range bound market
2- Falling Trend line break out last Friday
Conclusions
Correction begun on Deepawali-2010 from 6339 and range bound market within 4720-5229 in last 47 sessions. Many times Market take pause,become range bound and prepare for next moves. Indian markets remained range boud 5 months after 2008 crash and then strong rally begun in March 2009 and same possibility can not be ruled out this time also.
Bullish'W' Pattern in last 47 sessions range bound market,falling trend line break out last Friday and gap up opening will be seen today after strong global cues today morning. Nifty will trade between strong resistance range(5145-5220) today and follow up consolidation is must in the coming sessions for crossing and sustaining above 5229.
Expected that Nifty will firstly trade and prepare for next moves within 5112-5172. As heated sentiment therefore profit booking possibility will also be kept in mind. Mentioned range will be watched first and break out of this range will be result of next moves today preparation as well as confirmation will be sustaining beyond 5112-5220.
Technical Analysis & Market Outlook(17-10-2011)
Nifty-Intra Day Chart(14-Oct-2011):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5073-5100
2- Last 90 minutes mixed patterns 5112-5140
3- Whole day trading between 5073-5141
Conclusions
Good lower levels consolidations last friday but next strong resistances are between 5145-5220 and mixed trading patterns also seen last Friday between 5073-5141 therefore Indian markets require complete consolidation firstly to cross 5141 and then finally to sustain above 5229.
Expected that sentiment will be strong Monday morning due to following reasons;-
1- Good RIL results last Saturday.
2- US market strong rally last Friday.
3- Indian markets benchmark Indices closing more than 1% up last Friday.
Coming couple of sessions will be crucial for deciding the net conclusion of last 47 sessions range bound market(4720-5229). It is confirm that market require complete consolidation to clear next strong resistances(5145-5220) therefore Follow up buying/selling intraday patterns will be firstly watched for first indication of next big moves and will be updated in the Mid-session Outlooks in the Blog as being done for the last one year.
All the possibilities are very much open at this moment and Indian markets are not prepared for any side trending market therefore no guessing and let market prepare for a decisive market after(or without) break out then final conclusions will be drawn accrding to markets positions and intraday charts formations.
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| Just click on chart for its enlarged view |
1- Consolidation between 5073-5100
2- Last 90 minutes mixed patterns 5112-5140
3- Whole day trading between 5073-5141
Conclusions
Good lower levels consolidations last friday but next strong resistances are between 5145-5220 and mixed trading patterns also seen last Friday between 5073-5141 therefore Indian markets require complete consolidation firstly to cross 5141 and then finally to sustain above 5229.
Expected that sentiment will be strong Monday morning due to following reasons;-
1- Good RIL results last Saturday.
2- US market strong rally last Friday.
3- Indian markets benchmark Indices closing more than 1% up last Friday.
Coming couple of sessions will be crucial for deciding the net conclusion of last 47 sessions range bound market(4720-5229). It is confirm that market require complete consolidation to clear next strong resistances(5145-5220) therefore Follow up buying/selling intraday patterns will be firstly watched for first indication of next big moves and will be updated in the Mid-session Outlooks in the Blog as being done for the last one year.
All the possibilities are very much open at this moment and Indian markets are not prepared for any side trending market therefore no guessing and let market prepare for a decisive market after(or without) break out then final conclusions will be drawn accrding to markets positions and intraday charts formations.
Indian Stock Markets Closing Reports(14-Oct-2011)
Main features of today trading are as follows
1- Long White candle.
2- All the Indices closed in Green except metals.
3- Whole day up moves and trading between last resistance range of last 47 trading sessions.
Ratios
Nifty Put Call Ratio: 1.17
Nifty P/E Ratio(14-Oct-2011): 18.55
Advances & Declines
BSE ADVANCES : 1419
BSE DECLINES : 1361
NSE ADVANCES : 735
NSE DECLINES : 687
Nifty Open Interest Changed Today
Nifty- 5000 CE(Oct)- -416850(-12.74%)
Nifty- 5000 PE(Oct)- +1284150(+23.00%)
Nifty- 5100 CE(Oct)- -626550(-12.59%)
Nifty- 5100 PE(Oct)- +1507700(+53.94%)
Nifty- 5200 CE(Oct)- +71100(+1.11%)
Nifty- 5200 PE(Oct)- +478200(+48.90%)
Closing
Nifty- closed at 5,131.35(+54.45 Points & +1.07%)
Sensex- closed at 17,082.69(+198.77 Points & +1.18% )
CNX MIDCAP - closed at 7,133.45(+29.55 Points & +0.42%)
BSE SMALL CAP- closed at 6,907.96(+21.69 Points & +0.31%)
1- Long White candle.
2- All the Indices closed in Green except metals.
3- Whole day up moves and trading between last resistance range of last 47 trading sessions.
Ratios
Nifty Put Call Ratio: 1.17
Nifty P/E Ratio(14-Oct-2011): 18.55
Advances & Declines
BSE ADVANCES : 1419
BSE DECLINES : 1361
NSE ADVANCES : 735
NSE DECLINES : 687
Nifty Open Interest Changed Today
Nifty- 5000 CE(Oct)- -416850(-12.74%)
Nifty- 5000 PE(Oct)- +1284150(+23.00%)
Nifty- 5100 CE(Oct)- -626550(-12.59%)
Nifty- 5100 PE(Oct)- +1507700(+53.94%)
Nifty- 5200 CE(Oct)- +71100(+1.11%)
Nifty- 5200 PE(Oct)- +478200(+48.90%)
Closing
Nifty- closed at 5,131.35(+54.45 Points & +1.07%)
Sensex- closed at 17,082.69(+198.77 Points & +1.18% )
CNX MIDCAP - closed at 7,133.45(+29.55 Points & +0.42%)
BSE SMALL CAP- closed at 6,907.96(+21.69 Points & +0.31%)
Nifty Spot-Levels & Trading Strategy for 17-10-2011
Nifty Spot-Levels
R3 5247
R2 5194
R1 5162
Avg 5109
S1 5077
S2 5024
S3 4992
Nifty Spot-Trading Strategy
H6 5217 Trgt 2
H5 5197 Trgt 1
H4 5177 Long breakout
H3 5154 Go Short
H2 5146
H1 5138
L1 5123
L2 5115
L3 5107 Long
L4 5084 Short Breakout
L5 5064 Trgt 1
L6 5044 Trgt 2
R3 5247
R2 5194
R1 5162
Avg 5109
S1 5077
S2 5024
S3 4992
Nifty Spot-Trading Strategy
H6 5217 Trgt 2
H5 5197 Trgt 1
H4 5177 Long breakout
H3 5154 Go Short
H2 5146
H1 5138
L1 5123
L2 5115
L3 5107 Long
L4 5084 Short Breakout
L5 5064 Trgt 1
L6 5044 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2011
Nifty(Oct Fut)-Levels
R3 5275
R2 5214
R1 5178
Avg 5117
S1 5081
S2 5020
S3 4984
Nifty(Oct Fut)-Trading Strategy
H6 5241 Trgt 2
H5 5219 Trgt 1
H4 5196 Long breakout
H3 5169 Go Short
H2 5160
H1 5151
L1 5134
L2 5125
L3 5116 Long
L4 5089 Short Breakout
L5 5066 Trgt 1
L6 5044 Trgt 2
R3 5275
R2 5214
R1 5178
Avg 5117
S1 5081
S2 5020
S3 4984
Nifty(Oct Fut)-Trading Strategy
H6 5241 Trgt 2
H5 5219 Trgt 1
H4 5196 Long breakout
H3 5169 Go Short
H2 5160
H1 5151
L1 5134
L2 5125
L3 5116 Long
L4 5089 Short Breakout
L5 5066 Trgt 1
L6 5044 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2011
Bank Nifty(Oct Fut)-Levels
R3 9967
R2 9833
R1 9753
Avg 9619
S1 9539
S2 9405
S3 9325
Bank Nifty(Oct Fut)-Trading Strategy
H6 9892 Trgt 2
H5 9841 Trgt 1
H4 9791 Long breakout
H3 9732 Go Short
H2 9713
H1 9693
L1 9654
L2 9634
L3 9615 Long
L4 9556 Short Breakout
L5 9506 Trgt 1
L6 9455 Trgt 2
R3 9967
R2 9833
R1 9753
Avg 9619
S1 9539
S2 9405
S3 9325
Bank Nifty(Oct Fut)-Trading Strategy
H6 9892 Trgt 2
H5 9841 Trgt 1
H4 9791 Long breakout
H3 9732 Go Short
H2 9713
H1 9693
L1 9654
L2 9634
L3 9615 Long
L4 9556 Short Breakout
L5 9506 Trgt 1
L6 9455 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Oct 17 to Oct 21,2011)
Nifty Spot-Weekly Levels
R3 5479
R2 5310
R1 5220
Avg 5051
S1 4961
S2 4792
S3 4702
Nifty Spot-Weekly Trading Strategy
H6 5403 Trgt 2
H5 5338 Trgt 1
H4 5273 Long breakout
H3 5202 Go Short
H2 5178
H1 5154
L1 5107
L2 5083
L3 5059 Long
L4 4988 Short Breakout
L5 4923 Trgt 1
L6 4858 Trgt 2
R3 5479
R2 5310
R1 5220
Avg 5051
S1 4961
S2 4792
S3 4702
Nifty Spot-Weekly Trading Strategy
H6 5403 Trgt 2
H5 5338 Trgt 1
H4 5273 Long breakout
H3 5202 Go Short
H2 5178
H1 5154
L1 5107
L2 5083
L3 5059 Long
L4 4988 Short Breakout
L5 4923 Trgt 1
L6 4858 Trgt 2
Bank Nifty Spot-Weekly Levels & Trading Strategy(Oct 17 to Oct 21,2011)
Bank Nifty Spot-Weekly Levels
R3 10616
R2 10154
R1 9907
Avg 9445
S1 9198
S2 8736
S3 8489
Bank Nifty Spot-Weekly Trading Strategy
H6 10422 Trgt 2
H5 10236 Trgt 1
H4 10049 Long breakout
H3 9854 Go Short
H2 9789
H1 9724
L1 9595
L2 9530
L3 9465 Long
L4 9270 Short Breakout
L5 9083 Trgt 1
L6 8897 Trgt 2
R3 10616
R2 10154
R1 9907
Avg 9445
S1 9198
S2 8736
S3 8489
Bank Nifty Spot-Weekly Trading Strategy
H6 10422 Trgt 2
H5 10236 Trgt 1
H4 10049 Long breakout
H3 9854 Go Short
H2 9789
H1 9724
L1 9595
L2 9530
L3 9465 Long
L4 9270 Short Breakout
L5 9083 Trgt 1
L6 8897 Trgt 2
FII & DII trading activity in Capital Market Segment on 14-Oct-2011
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Pre-Closing Outlook(14-10-2011)
Strength was told within first half hour today and whole day up moves seen. Consolidation patterns at lower levels today but last 90 minutes mixed patterns also within 5112-5140.
As today up moves are on the back of more than .75% positive US Futures and more than 1% up European markets as well as last 90 minutes intraday patterns are also showing mixed formations therefore sustaining beyond 5112-5140 will be firstly watched for confirmation on next Monday.
As today up moves are on the back of more than .75% positive US Futures and more than 1% up European markets as well as last 90 minutes intraday patterns are also showing mixed formations therefore sustaining beyond 5112-5140 will be firstly watched for confirmation on next Monday.
Mid-session Outlook(14-10-2011)
We understood positive market immediately after opening today therefore firstly we covered our shorting positions within first 5 minutes and also told following line within first 30 minutes for Indian markets:-
strength immediately after opening
Nifty moved up more than 25 pomts after our above message and 47 points after our short covering message.. Following guidance for today trading has been given in both previous outlooks:-
Firstly trading expected between 5050-5100 and follow up buying/selling will decide next decisive moves today. sustaining below 5050 will be deeper correction confirmation as well as sustaining above 5100 will be first indication of up moves and confirmation will be moving above 5135.
Consolidation patterns today but selling also within 5090-5135 yesterday therefore up moves expectations are equally high today and confirmation will be after moving above 5135.
strength immediately after opening
Nifty moved up more than 25 pomts after our above message and 47 points after our short covering message.. Following guidance for today trading has been given in both previous outlooks:-
Firstly trading expected between 5050-5100 and follow up buying/selling will decide next decisive moves today. sustaining below 5050 will be deeper correction confirmation as well as sustaining above 5100 will be first indication of up moves and confirmation will be moving above 5135.
Consolidation patterns today but selling also within 5090-5135 yesterday therefore up moves expectations are equally high today and confirmation will be after moving above 5135.
Post-open Outlook(14-10-2011)
Indian markets ignored weaker Global cues and showed strength immediately after opening therefore following lines of Pre-open Outlook(14-10-2011)will be kept in mind for next moves confirmations:-
"sustaining below 5050 will be deeper correction confirmation as well as sustaining above 5100 will be first indication of up moves and confirmation will be moving above 5135"
"sustaining below 5050 will be deeper correction confirmation as well as sustaining above 5100 will be first indication of up moves and confirmation will be moving above 5135"
NIFTY-Oct F&O-1st Shorting of 13-10-2011-Covering
NIFTY Oct F & O(Shorted on 13-10-2011)-Cover immediately-CMP-5077
Pre-open Outlook(14-10-2011)
Almost all the Asian markets are in Red today morning therefore sentiment is little weak and expected that Indian markets will first trade near the lower levels of yesterday after flat to negative opening today.
Firstly trading expected between 5050-5100 and follow up buying/selling will decide next decisive moves today. sustaining below 5050 will be deeper correction confirmation as well as sustaining above 5100 will be first indication of up moves and confirmation will be moving above 5135.
As Good selling yesterday therefore firstly weakness expected today and above mentioned levels break out will be confirmation of today market preparation and next moves of Indian markets.
Firstly trading expected between 5050-5100 and follow up buying/selling will decide next decisive moves today. sustaining below 5050 will be deeper correction confirmation as well as sustaining above 5100 will be first indication of up moves and confirmation will be moving above 5135.
As Good selling yesterday therefore firstly weakness expected today and above mentioned levels break out will be confirmation of today market preparation and next moves of Indian markets.
Nifty-Micro Analysis of Intra Day Chart For 14-10-2011
Nifty-Intra Day Chart(13-Oct-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5120-5135
2- Selling between 5115-5128
3- Selling between 5090-5097
3- Whole day trading between 5068-5135
Conclusions
46 Sessions range bound market between 4720-5229 with strong resistances at higher levels between 5145-5220. Fresh consolidation was required today for crossing and sustaining above 4922 but intraday selling seen between above mentiined ranges therefore down moves are expected tomorrow.
Only one day selling is sufficient for begining of down moves and deeper down moves will depend on follow up selling tomorrow. Fresh resistance is 5090-5135 and until Nifty will not cross this range till then any up move will not be considered therefore sustaining beyond this range will be watched tomorrow for continuation or completion of today started correction.
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| Just click on chart for its enlarged view |
1- Selling between 5120-5135
2- Selling between 5115-5128
3- Selling between 5090-5097
3- Whole day trading between 5068-5135
Conclusions
46 Sessions range bound market between 4720-5229 with strong resistances at higher levels between 5145-5220. Fresh consolidation was required today for crossing and sustaining above 4922 but intraday selling seen between above mentiined ranges therefore down moves are expected tomorrow.
Only one day selling is sufficient for begining of down moves and deeper down moves will depend on follow up selling tomorrow. Fresh resistance is 5090-5135 and until Nifty will not cross this range till then any up move will not be considered therefore sustaining beyond this range will be watched tomorrow for continuation or completion of today started correction.
Indian Stock Markets Closing Reports(13-Oct-2011)
Main features of today trading are as follows
1- Black Candle.
2- Slipped from higher levels and Red closing.
3- Almost all the Indices closed near lower levels of the day but closing is mixed.
4- As intraday charts are showing selling patterns therefore weak market expected tomorrow.
Ratios
Nifty Put Call Ratio: 1.28
Nifty P/E Ratio(13-Oct-2011): 18.35
Advances & Declines
BSE ADVANCES : 1371
BSE DECLINES : 1417
NSE ADVANCES : 693
NSE DECLINES : 716
Nifty Open Interest Changed Today
Nifty- 4900 CE(Oct)- -190650(-9.33%)
Nifty- 4900 PE(Oct)- +12900(+0.21%)
Nifty- 5000 CE(Oct)- -164250(-4.73%)
Nifty- 5000 PE(Oct)- +395350(+7.46%)
Nifty- 5100 CE(Oct)- +1024800(+23.89%)
Nifty- 5100 PE(Oct)- +150550(+5.04%)
Closing
Nifty- closed at 5,077.85(-21.55 Points & -0.42%)
Sensex- closed at 16,883.92(-74.47 Points & -0.44% )
CNX MIDCAP - closed at 7,106.40(-4.70 Points & -0.07%)
BSE SMALL CAP- closed at 6,886.27(+4.12 Points & +0.06%)
1- Black Candle.
2- Slipped from higher levels and Red closing.
3- Almost all the Indices closed near lower levels of the day but closing is mixed.
4- As intraday charts are showing selling patterns therefore weak market expected tomorrow.
Ratios
Nifty Put Call Ratio: 1.28
Nifty P/E Ratio(13-Oct-2011): 18.35
Advances & Declines
BSE ADVANCES : 1371
BSE DECLINES : 1417
NSE ADVANCES : 693
NSE DECLINES : 716
Nifty Open Interest Changed Today
Nifty- 4900 CE(Oct)- -190650(-9.33%)
Nifty- 4900 PE(Oct)- +12900(+0.21%)
Nifty- 5000 CE(Oct)- -164250(-4.73%)
Nifty- 5000 PE(Oct)- +395350(+7.46%)
Nifty- 5100 CE(Oct)- +1024800(+23.89%)
Nifty- 5100 PE(Oct)- +150550(+5.04%)
Closing
Nifty- closed at 5,077.85(-21.55 Points & -0.42%)
Sensex- closed at 16,883.92(-74.47 Points & -0.44% )
CNX MIDCAP - closed at 7,106.40(-4.70 Points & -0.07%)
BSE SMALL CAP- closed at 6,886.27(+4.12 Points & +0.06%)
Nifty Spot-Levels & Trading Strategy for 14-10-2011
Nifty Spot-Levels
R3 5188
R2 5162
R1 5119
Avg 5093
S1 5050
S2 5024
S3 4981
Nifty Spot-Trading Strategy
H6 5146 Trgt 2
H5 5130 Trgt 1
H4 5114 Long breakout
H3 5095 Go Short
H2 5089
H1 5083
L1 5070
L2 5064
L3 5058 Long
L4 5039 Short Breakout
L5 5023 Trgt 1
L6 5007 Trgt 2
R3 5188
R2 5162
R1 5119
Avg 5093
S1 5050
S2 5024
S3 4981
Nifty Spot-Trading Strategy
H6 5146 Trgt 2
H5 5130 Trgt 1
H4 5114 Long breakout
H3 5095 Go Short
H2 5089
H1 5083
L1 5070
L2 5064
L3 5058 Long
L4 5039 Short Breakout
L5 5023 Trgt 1
L6 5007 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 14-10-2011
Nifty(Oct Fut)-Levels
R3 5194
R2 5167
R1 5120
Avg 5093
S1 5046
S2 5019
S3 4972
Nifty(Oct Fut)-Trading Strategy
H6 5148 Trgt 2
H5 5131 Trgt 1
H4 5114 Long breakout
H3 5094 Go Short
H2 5087
H1 5080
L1 5067
L2 5060
L3 5053 Long
L4 5033 Short Breakout
L5 5016 Trgt 1
L6 4999 Trgt 2
R3 5194
R2 5167
R1 5120
Avg 5093
S1 5046
S2 5019
S3 4972
Nifty(Oct Fut)-Trading Strategy
H6 5148 Trgt 2
H5 5131 Trgt 1
H4 5114 Long breakout
H3 5094 Go Short
H2 5087
H1 5080
L1 5067
L2 5060
L3 5053 Long
L4 5033 Short Breakout
L5 5016 Trgt 1
L6 4999 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 14-10-2011
Bank Nifty(Oct Fut)-Levels
R3 9776
R2 9720
R1 9636
Avg 9580
S1 9496
S2 9440
S3 9356
Bank Nifty(Oct Fut)-Trading Strategy
H6 9692 Trgt 2
H5 9660 Trgt 1
H4 9629 Long breakout
H3 9590 Go Short
H2 9577
H1 9564
L1 9539
L2 9526
L3 9513 Long
L4 9475 Short Breakout
L5 9443 Trgt 1
L6 9411 Trgt 2
R3 9776
R2 9720
R1 9636
Avg 9580
S1 9496
S2 9440
S3 9356
Bank Nifty(Oct Fut)-Trading Strategy
H6 9692 Trgt 2
H5 9660 Trgt 1
H4 9629 Long breakout
H3 9590 Go Short
H2 9577
H1 9564
L1 9539
L2 9526
L3 9513 Long
L4 9475 Short Breakout
L5 9443 Trgt 1
L6 9411 Trgt 2
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