Dow's Futures is more than 50 points down and most Asian markets slipped from intraday hugher levels and mixed with minor gains or loss. Indian markets are also quiet and almost flat today morning.Intraday charts of today are showing selling and global cues have also turns weaker therefore down moves will be seen today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Nifty-Micro Analysis of Intra Day Chart For 08-11-2011
Technical Analysis and Research of EOD and weekly charts,Technical Positions,next possibilities have already been explained in following topics with 2 Charts therefore not being repeated:-
Rally above 5400 in next week
Nifty-Intra Day Chart(Nov 04,2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5303-5323
2- Buying between 5257-5284
3- Whole day Intraday Patterns are showing consolidation formations.
4- Whole day trading between 5257-5323
Conclusions
Next Supports and Resistances are as follows:-
1- Previous Supports are between 5203-5224
2- Previous Resistances are between 5318-5365
Higher levels selling and lower levels equally buying therefore expected that Nifty will firstly trade between last Friday range( 5257-5323). Whole day Intraday Patterns are showing consolidation formations last Friday and correction completion signals also therefore finally rally is expected in the coming sessions.
Rally above 5400 in next week
Nifty-Intra Day Chart(Nov 04,2011):-
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| Just click on chart for its enlarged view |
1- Selling between 5303-5323
2- Buying between 5257-5284
3- Whole day Intraday Patterns are showing consolidation formations.
4- Whole day trading between 5257-5323
Conclusions
Next Supports and Resistances are as follows:-
1- Previous Supports are between 5203-5224
2- Previous Resistances are between 5318-5365
Higher levels selling and lower levels equally buying therefore expected that Nifty will firstly trade between last Friday range( 5257-5323). Whole day Intraday Patterns are showing consolidation formations last Friday and correction completion signals also therefore finally rally is expected in the coming sessions.
Rally above 5400 in next week
Technical Analysis,Research and Weekly Outlook For Nov 08 to Nov 11,2011
Nifty-Weekly Chart(04-Nov-2011):-
Technical Patterns and Formations in Weekly charts
1- Wave-3 completed and Wave-4 begun on 05-11-2010 from 6338.
2- Last one year corrective Wave-4 in Falling Channel.
3- Wave-4 completed and Wave-5 started on 26-08-2011 from 4720
4- Wave-5 is in Progress.
Nifty-EOD Chart(04-Nov-2011):-
Technical Patterns and Formations in EOD charts
1- Falling Trendline
2- Market retraced 4 times earlier sfter getting resistance from this Trend line.
3- Break out of 54 Sessions range bound market
4- 16 Days Rally and tested Falling Trendline
5- Fresh up moves are on after 3 Days correction
Conclusions
Correction in falling channel and after that 54 sessions range bound market between 4720-5229 was seen after 94 Points gap down on 05-08-2011. Break out of this range bound market was seen in 16 sessions previous month rally but immediately after that 3 days correction of this rally was seen.
Next Supports of this rally are as follows:-
1- 5257-5277
2- 5203-5224
Next Resistances of this rally are as follows:-
1- 5310-5324
2- 5318-5365
Most uncertain news flow from Euro zone and highly volatile markets. Rally started on 07-10-2011 and after 16 days its correction was seen in previous week. As up moves were seen in previous two sessions after getting supports at above mentioned therefore strong indications of Correction completion and high possibility of rally in the coming week.
Nifty got 4 times resistance at falling trend line and also again faced resistance here in previuos week but it was due to confusing news from Greece. Strong indications of correction completion and if any big adverse news does not comes up from Europe then firstly consolidation at higher levels and after that continuation of rally above 5400 will be seen in the coming week/weeks.
Nifty-Weekly Chart(04-Nov-2011):-
 |
| Just click on chart for its enlarged view |
1- Wave-3 completed and Wave-4 begun on 05-11-2010 from 6338.
2- Last one year corrective Wave-4 in Falling Channel.
3- Wave-4 completed and Wave-5 started on 26-08-2011 from 4720
4- Wave-5 is in Progress.
Nifty-EOD Chart(04-Nov-2011):-
 |
| Just click on chart for its enlarged view |
1- Falling Trendline
2- Market retraced 4 times earlier sfter getting resistance from this Trend line.
3- Break out of 54 Sessions range bound market
4- 16 Days Rally and tested Falling Trendline
5- Fresh up moves are on after 3 Days correction
Conclusions
Correction in falling channel and after that 54 sessions range bound market between 4720-5229 was seen after 94 Points gap down on 05-08-2011. Break out of this range bound market was seen in 16 sessions previous month rally but immediately after that 3 days correction of this rally was seen.
Next Supports of this rally are as follows:-
1- 5257-5277
2- 5203-5224
Next Resistances of this rally are as follows:-
1- 5310-5324
2- 5318-5365
Most uncertain news flow from Euro zone and highly volatile markets. Rally started on 07-10-2011 and after 16 days its correction was seen in previous week. As up moves were seen in previous two sessions after getting supports at above mentioned therefore strong indications of Correction completion and high possibility of rally in the coming week.
Nifty got 4 times resistance at falling trend line and also again faced resistance here in previuos week but it was due to confusing news from Greece. Strong indications of correction completion and if any big adverse news does not comes up from Europe then firstly consolidation at higher levels and after that continuation of rally above 5400 will be seen in the coming week/weeks.
Indian Stock Markets Closing Reports(04-Nov-2011)
Main features of today trading are as follows
1- All the Indices closed in Green ecxept Oil & gAS.
2- Black Candle.
3- Slipped from higher levels but support at lower levels also.
Ratios
Nifty Put Call Ratio: 0.95
Nifty P/E Ratio(04-Nov-2011): 19.21
Advances & Declines
BSE ADVANCES : 1572
BSE DECLINES : 1271
NSE ADVANCES : 856
NSE DECLINES : 578
Nifty Open Interest Changed Today
Nifty- 5200 CE(Nov)- -44150(-1.70%)
Nifty- 5200 PE(Nov)- +692050(+14.64%)
Nifty- 5300 CE(Nov)- -176950(-3.94%)
Nifty- 5300 PE(Nov)- +386150(+13.23%)
Nifty- 5400 CE(Nov)- +664900(+11.77%)
Nifty- 5400 PE(Nov)- +208600(+19.55%)
Closing
Nifty- closed at 5,284.20(+18.45 Points & +0.35%)
Sensex- closed at 17,562.61(+80.68 Points & +0.46% )
CNX MIDCAP - closed at 7,320.00(+70.85 Points & +0.98%)
BSE SMALL CAP- closed at 6,958.13(+26.15 Points & +0.38%)
1- All the Indices closed in Green ecxept Oil & gAS.
2- Black Candle.
3- Slipped from higher levels but support at lower levels also.
Ratios
Nifty Put Call Ratio: 0.95
Nifty P/E Ratio(04-Nov-2011): 19.21
Advances & Declines
BSE ADVANCES : 1572
BSE DECLINES : 1271
NSE ADVANCES : 856
NSE DECLINES : 578
Nifty Open Interest Changed Today
Nifty- 5200 CE(Nov)- -44150(-1.70%)
Nifty- 5200 PE(Nov)- +692050(+14.64%)
Nifty- 5300 CE(Nov)- -176950(-3.94%)
Nifty- 5300 PE(Nov)- +386150(+13.23%)
Nifty- 5400 CE(Nov)- +664900(+11.77%)
Nifty- 5400 PE(Nov)- +208600(+19.55%)
Closing
Nifty- closed at 5,284.20(+18.45 Points & +0.35%)
Sensex- closed at 17,562.61(+80.68 Points & +0.46% )
CNX MIDCAP - closed at 7,320.00(+70.85 Points & +0.98%)
BSE SMALL CAP- closed at 6,958.13(+26.15 Points & +0.38%)
FII & DII trading activity in Capital Market Segment on 04-Nov-2011
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Nifty Spot-Levels & Trading Strategy for 08-11-2011
Nifty Spot-Levels
R3 5391
R2 5358
R1 5321
Avg 5288
S1 5251
S2 5218
S3 5181
Nifty Spot-Trading Strategy
H6 5354 Trgt 2
H5 5338 Trgt 1
H4 5322 Long breakout
H3 5303 Go Short
H2 5296
H1 5290
L1 5277
L2 5271
L3 5264 Long
L4 5245 Short Breakout
L5 5229 Trgt 1
L6 5213 Trgt 2
R3 5391
R2 5358
R1 5321
Avg 5288
S1 5251
S2 5218
S3 5181
Nifty Spot-Trading Strategy
H6 5354 Trgt 2
H5 5338 Trgt 1
H4 5322 Long breakout
H3 5303 Go Short
H2 5296
H1 5290
L1 5277
L2 5271
L3 5264 Long
L4 5245 Short Breakout
L5 5229 Trgt 1
L6 5213 Trgt 2
Nifty(Nov Fut)-Levels & Trading Strategy for 08-11-2011
Nifty(Nov Fut)-Levels
R3 5421
R2 5387
R1 5351
Avg 5317
S1 5281
S2 5247
S3 5211
Nifty(Nov Fut)-Trading Strategy
H6 5386 Trgt 2
H5 5370 Trgt 1
H4 5354 Long breakout
H3 5335 Go Short
H2 5328
H1 5322
L1 5309
L2 5303
L3 5296 Long
L4 5277 Short Breakout
L5 5261 Trgt 1
L6 5245 Trgt 2
R3 5421
R2 5387
R1 5351
Avg 5317
S1 5281
S2 5247
S3 5211
Nifty(Nov Fut)-Trading Strategy
H6 5386 Trgt 2
H5 5370 Trgt 1
H4 5354 Long breakout
H3 5335 Go Short
H2 5328
H1 5322
L1 5309
L2 5303
L3 5296 Long
L4 5277 Short Breakout
L5 5261 Trgt 1
L6 5245 Trgt 2
Bank Nifty(Nov Fut)-Levels & Trading Strategy for 08-11-2011
Bank Nifty(Nov Fut)-Levels
R3 10046
R2 9998
R1 9939
Avg 9891
S1 9832
S2 9784
S3 9725
Bank Nifty(Nov Fut)-Trading Strategy
H6 9988 Trgt 2
H5 9964 Trgt 1
H4 9939 Long breakout
H3 9910 Go Short
H2 9900
H1 9890
L1 9871
L2 9861
L3 9851 Long
L4 9822 Short Breakout
L5 9797 Trgt 1
L6 9773 Trgt 2
R3 10046
R2 9998
R1 9939
Avg 9891
S1 9832
S2 9784
S3 9725
Bank Nifty(Nov Fut)-Trading Strategy
H6 9988 Trgt 2
H5 9964 Trgt 1
H4 9939 Long breakout
H3 9910 Go Short
H2 9900
H1 9890
L1 9871
L2 9861
L3 9851 Long
L4 9822 Short Breakout
L5 9797 Trgt 1
L6 9773 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Nov 08 to Nov 11,2011)
Nifty Spot-Weekly Levels
R3 5353
R2 5306
R1 5295
Avg 5248
S1 5237
S2 5190
S3 5179
Nifty Spot-Weekly Trading Strategy
H6 5342 Trgt 2
H5 5329 Trgt 1
H4 5315 Long breakout
H3 5299 Go Short
H2 5294
H1 5289
L1 5278
L2 5273
L3 5268 Long
L4 5252 Short Breakout
L5 5238 Trgt 1
L6 5225 Trgt 2
R3 5353
R2 5306
R1 5295
Avg 5248
S1 5237
S2 5190
S3 5179
Nifty Spot-Weekly Trading Strategy
H6 5342 Trgt 2
H5 5329 Trgt 1
H4 5315 Long breakout
H3 5299 Go Short
H2 5294
H1 5289
L1 5278
L2 5273
L3 5268 Long
L4 5252 Short Breakout
L5 5238 Trgt 1
L6 5225 Trgt 2
Bank Nifty Spot-Weekly Levels & Trading Strategy(Nov 08 to Nov 11,2011)
Bank Nifty Spot-Weekly Levels
R3 10492
R2 10286
R1 10061
Avg 9855
S1 9630
S2 9424
S3 9199
Bank Nifty Spot-Weekly Trading Strategy
H6 10275 Trgt 2
H5 10174 Trgt 1
H4 10073 Long breakout
H3 9954 Go Short
H2 9915
H1 9875
L1 9796
L2 9756
L3 9717 Long
L4 9598 Short Breakout
L5 9497 Trgt 1
L6 9396 Trgt 2
R3 10492
R2 10286
R1 10061
Avg 9855
S1 9630
S2 9424
S3 9199
Bank Nifty Spot-Weekly Trading Strategy
H6 10275 Trgt 2
H5 10174 Trgt 1
H4 10073 Long breakout
H3 9954 Go Short
H2 9915
H1 9875
L1 9796
L2 9756
L3 9717 Long
L4 9598 Short Breakout
L5 9497 Trgt 1
L6 9396 Trgt 2
Pre-Closing Outlook(04-11-2011)
Following line was told in Uncertain Europe & Next Trend Decider is 5203-5297
Expected that Nifty will firstly trade between 5254-5311 and next trend confirmation will be sustaining beyond 5203-5297 tomorrow or in the coming sessions
Blasting global cues today morning and Nifty traded between 5257-5326 after gap up opening today. As doubts therefore condition of sustaining above 5300 was clearly told in Post-open Outlook today.
Selling at higher levels and Buying at lower levels as well as closing between mentioned resistance range(5377-5297) will be seen today. Next Indian and Global trend will be decided according to settlement of Greece problem. Technical positions and detailed analysis has already been posted in following topic:-
Uncertain Europe & Next Trend Decider is 5203-5297
Indian markets are prepared for any side decisive move and waiting for clear direction from Europe.
Although resistances at higher levels but expected that Indian markets will finally move above 5365 and strong rally will be seen in the next weeks.
Expected that Nifty will firstly trade between 5254-5311 and next trend confirmation will be sustaining beyond 5203-5297 tomorrow or in the coming sessions
Blasting global cues today morning and Nifty traded between 5257-5326 after gap up opening today. As doubts therefore condition of sustaining above 5300 was clearly told in Post-open Outlook today.
Selling at higher levels and Buying at lower levels as well as closing between mentioned resistance range(5377-5297) will be seen today. Next Indian and Global trend will be decided according to settlement of Greece problem. Technical positions and detailed analysis has already been posted in following topic:-
Uncertain Europe & Next Trend Decider is 5203-5297
Indian markets are prepared for any side decisive move and waiting for clear direction from Europe.
Although resistances at higher levels but expected that Indian markets will finally move above 5365 and strong rally will be seen in the next weeks.
Post-open Outlook(04-11-2011)
Most of the Asian markets are trading with good gains after strong closing in US markets therefore sentiment is blasting and Nifty is trading above 5300 after gap up opening today. Most of the Global markets and Indian markets are trading near 200-Day EMA after previous week correction and clearity from Europe will mean strong rally all around above 200-Day EMA and long term trend turning up.
Last resistance of ongoing rally is between 5318-5365 and Nifty is trading at lower levels of this resistance. Strong Global cues led trading above 5300 but clear signals are required from Greece for crossing 5365. Today intraday consolidation and sustaining above 5300 will be strong indication of rally above 5365.
Just watch sustaining above 5300 today and sustaining above it will be confirmation of previous resistance(5377-5297) clearance as well as strong indication of next up moves beginning to cross 5365.
Last resistance of ongoing rally is between 5318-5365 and Nifty is trading at lower levels of this resistance. Strong Global cues led trading above 5300 but clear signals are required from Greece for crossing 5365. Today intraday consolidation and sustaining above 5300 will be strong indication of rally above 5365.
Just watch sustaining above 5300 today and sustaining above it will be confirmation of previous resistance(5377-5297) clearance as well as strong indication of next up moves beginning to cross 5365.
Uncertain Europe & Next Trend Decider is 5203-5297
Nifty-Intra Day Chart(03-Nov-2011):-
Technical Patterns and Formations in today intra day charts
1- Support between 5203-5224
2- Mixed Patterns between 5236-5272
3- Whole day trading between 5203-5280
Conclusions from Intra day Charts
As soon as Indian markets started to out perform global markets then it was told within first 15 minutes and when Indian markets were near the lower levels and started to consolidate then also it was updated within first 2 hours today today.
Indian markets got intraday support at lower levels within 5203-5224 and after that strong up move was seen on the back of jumping Dow's Futures(more than 200 points recovery) and rising European markets.
Dow's Futures was more than 170 points down today morning and Dow traded 195 points up today. It is clear that highly volatile global markets and most uncertain newsflow from Europe as well as such confusions are continued for the last 3 months. Once clear picture from European markets will mean continuation of strong rally in Indian markets as it was seen through 54 sessions break out on 28-10-2011.
Nifty-EOD Chart(03-Nov-2011):-
Conclusions
Rally started in previous month and after 16 days up moves correction is on for the last 4 sessions. First signal of correction completion emerged after support at lower level between 5203-5224 today but correction completion confirmation is must through:-
1- Firstly crossing of today mixed patterns trading range(5236-5272)
2- Secondly sustaining above minimum next first resistance(5377-5297).
Expected that Nifty will firstly trade between 5254-5311 and next trend confirmation will be sustaining beyond 5203-5297 tomorrow or in the coming sessions and:-
1- Below 5203 will mean failure of today support and entering of uncertain 54 previous sessions range bound market.
2- Sustaining above 5297 will be confirmation of ongoing correction completion and in that situation fresh phase of rally will be expected after crossing of last resistance of ongoing rally(5318-5365).
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| Just click on chart for its enlarged view |
1- Support between 5203-5224
2- Mixed Patterns between 5236-5272
3- Whole day trading between 5203-5280
Conclusions from Intra day Charts
As soon as Indian markets started to out perform global markets then it was told within first 15 minutes and when Indian markets were near the lower levels and started to consolidate then also it was updated within first 2 hours today today.
Indian markets got intraday support at lower levels within 5203-5224 and after that strong up move was seen on the back of jumping Dow's Futures(more than 200 points recovery) and rising European markets.
Dow's Futures was more than 170 points down today morning and Dow traded 195 points up today. It is clear that highly volatile global markets and most uncertain newsflow from Europe as well as such confusions are continued for the last 3 months. Once clear picture from European markets will mean continuation of strong rally in Indian markets as it was seen through 54 sessions break out on 28-10-2011.
Nifty-EOD Chart(03-Nov-2011):-
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| Just click on chart for its enlarged view |
Rally started in previous month and after 16 days up moves correction is on for the last 4 sessions. First signal of correction completion emerged after support at lower level between 5203-5224 today but correction completion confirmation is must through:-
1- Firstly crossing of today mixed patterns trading range(5236-5272)
2- Secondly sustaining above minimum next first resistance(5377-5297).
Expected that Nifty will firstly trade between 5254-5311 and next trend confirmation will be sustaining beyond 5203-5297 tomorrow or in the coming sessions and:-
1- Below 5203 will mean failure of today support and entering of uncertain 54 previous sessions range bound market.
2- Sustaining above 5297 will be confirmation of ongoing correction completion and in that situation fresh phase of rally will be expected after crossing of last resistance of ongoing rally(5318-5365).
FII & DII trading activity in Capital Market Segment on 03-Nov-2011
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Indian Stock Markets Closing Reports(03-Nov-2011)
Main features of today trading are as follows
1- Good recovery from lower levels and almost flat closing near day's highest levels.
2- White Candle.
3- Global cues led strong rally after support at lower levels.
Ratios
Nifty Put Call Ratio: 0.90
Nifty P/E Ratio(03-Nov-2011): 19.06
Advances & Declines
BSE ADVANCES : 1332
BSE DECLINES : 1475
NSE ADVANCES : 665
NSE DECLINES : 736
Nifty Open Interest Changed Today
Nifty- 5200 CE(Nov)- +69400(+2.75%)
Nifty- 5200 PE(Nov)- +426600(+9.26%)
Nifty- 5300 CE(Nov)- +132600(+2.99%)
Nifty- 5300 PE(Nov)- -253400(-7.97%)
Closing
Nifty- closed at 5,265.75(+7.30 Points & +0.14%)
Sensex- closed at 17,481.93(+17.08 Points & +0.10% )
CNX MIDCAP - closed at 7,249.15(+28.15 Points & +0.39%)
BSE SMALL CAP- closed at 6,931.98 (-0.25 Points & 0.00%)
1- Good recovery from lower levels and almost flat closing near day's highest levels.
2- White Candle.
3- Global cues led strong rally after support at lower levels.
Ratios
Nifty Put Call Ratio: 0.90
Nifty P/E Ratio(03-Nov-2011): 19.06
Advances & Declines
BSE ADVANCES : 1332
BSE DECLINES : 1475
NSE ADVANCES : 665
NSE DECLINES : 736
Nifty Open Interest Changed Today
Nifty- 5200 CE(Nov)- +69400(+2.75%)
Nifty- 5200 PE(Nov)- +426600(+9.26%)
Nifty- 5300 CE(Nov)- +132600(+2.99%)
Nifty- 5300 PE(Nov)- -253400(-7.97%)
Closing
Nifty- closed at 5,265.75(+7.30 Points & +0.14%)
Sensex- closed at 17,481.93(+17.08 Points & +0.10% )
CNX MIDCAP - closed at 7,249.15(+28.15 Points & +0.39%)
BSE SMALL CAP- closed at 6,931.98 (-0.25 Points & 0.00%)
Nifty Spot-Levels & Trading Strategy for 03-11-2011
Nifty Spot-Levels
R3 5400
R2 5350
R1 5304
Avg 5254
S1 5208
S2 5158
S3 5112
Nifty Spot-Trading Strategy
H6 5355 Trgt 2
H5 5332 Trgt 1
H4 5310 Long breakout
H3 5284 Go Short
H2 5275
H1 5266
L1 5249
L2 5240
L3 5231 Long
L4 5205 Short Breakout
L5 5183 Trgt 1
L6 5161 Trgt 2
R3 5400
R2 5350
R1 5304
Avg 5254
S1 5208
S2 5158
S3 5112
Nifty Spot-Trading Strategy
H6 5355 Trgt 2
H5 5332 Trgt 1
H4 5310 Long breakout
H3 5284 Go Short
H2 5275
H1 5266
L1 5249
L2 5240
L3 5231 Long
L4 5205 Short Breakout
L5 5183 Trgt 1
L6 5161 Trgt 2
Nifty(Nov Fut)-Levels & Trading Strategy for 03-11-2011
Nifty(Nov Fut)-Levels
R3 5419
R2 5376
R1 5328
Avg 5285
S1 5237
S2 5194
S3 5146
Nifty(Nov Fut)-Trading Strategy
H6 5371 Trgt 2
H5 5350 Trgt 1
H4 5330 Long breakout
H3 5305 Go Short
H2 5296
H1 5288
L1 5271
L2 5263
L3 5254 Long
L4 5229 Short Breakout
L5 5209 Trgt 1
L6 5188 Trgt 2
R3 5419
R2 5376
R1 5328
Avg 5285
S1 5237
S2 5194
S3 5146
Nifty(Nov Fut)-Trading Strategy
H6 5371 Trgt 2
H5 5350 Trgt 1
H4 5330 Long breakout
H3 5305 Go Short
H2 5296
H1 5288
L1 5271
L2 5263
L3 5254 Long
L4 5229 Short Breakout
L5 5209 Trgt 1
L6 5188 Trgt 2
Bank Nifty(Nov Fut)-Levels & Trading Strategy for 03-11-2011
Bank Nifty(Nov Fut)-Levels
R3 10126
R2 10032
R1 9928
Avg 9834
S1 9730
S2 9636
S3 9532
Bank Nifty(Nov Fut)-Trading Strategy
H6 10023 Trgt 2
H5 9978 Trgt 1
H4 9932 Long breakout
H3 9878 Go Short
H2 9860
H1 9842
L1 9805
L2 9787
L3 9769 Long
L4 9715 Short Breakout
L5 9669 Trgt 1
L6 9624 Trgt 2
R3 10126
R2 10032
R1 9928
Avg 9834
S1 9730
S2 9636
S3 9532
Bank Nifty(Nov Fut)-Trading Strategy
H6 10023 Trgt 2
H5 9978 Trgt 1
H4 9932 Long breakout
H3 9878 Go Short
H2 9860
H1 9842
L1 9805
L2 9787
L3 9769 Long
L4 9715 Short Breakout
L5 9669 Trgt 1
L6 9624 Trgt 2
Pre-Closing Outlook(03-11-2011)
Initial consolidation indications and after that intra day support between 5203-5224. As Dow's Futures surged more than 90 points from intra day lower levels therefore all the European and Indian markets also moved up sharply after 01:30pm. Positive closing above 5254 will be seen but today last 2 hours up moves are US Futures backed therefore sustaining above 5452 and minimum crossing of next resistance is must for confirmation of correction completion and it will be watched first of all tomorrow.
Mid-session Outlook-2(03-11-2011)
Following 3 technical positions have been posted in both previous outlooks:-
1- Indian markets are out performing global markets and
2- minor indications of consolidations
3- sustaining beyond 5229-5254 for next moves confirmations.
Nifty slipped below 5229 after increased inflation data and traded more than 2 hours between 5203-5224 but could not sustain below 5229,moved up and again trading between 5229-5254.
Minor indications of consolidations were seen and it was updated also in Mid-session Outlook today. Indian markets ignored increased inflation data,out performing global markets but last half hour fast up moves are on the back of sharp 90 points surge in US futures therefore rally confirmations through sustaining above 5254 is must.
Just watch sustaining beyond 5229-5254 for next moves confirmations.
1- Indian markets are out performing global markets and
2- minor indications of consolidations
3- sustaining beyond 5229-5254 for next moves confirmations.
Nifty slipped below 5229 after increased inflation data and traded more than 2 hours between 5203-5224 but could not sustain below 5229,moved up and again trading between 5229-5254.
Minor indications of consolidations were seen and it was updated also in Mid-session Outlook today. Indian markets ignored increased inflation data,out performing global markets but last half hour fast up moves are on the back of sharp 90 points surge in US futures therefore rally confirmations through sustaining above 5254 is must.
Just watch sustaining beyond 5229-5254 for next moves confirmations.
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