Confirmation required for 64 sessions range(4720) breaking down

Nifty-Micro Analysis of Intra Day Chart For 24-11-2011

Nifty-Intra Day Chart(23-Nov-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 4735-4750 
2- Support between 4644-4678
3- Whole day trading between 4640-4780

Conclusions from intra day chart analysis

Firstly selling and after that 64 sessions range broken down but its confirmation of sustaining below 4720 is required yet. This fact should be kept in mind that 54 sessions range highest(5229) was broken out on 28-10-2011 after encouraging news from Greece but Nifty again dipped within 54 sessions trading range after 8 sessions trading above 5229. As today moves below 5720 were due to crashing global markets also therefore sustaining below 4720 confirmation is must for further deeper crash .

Although selling at higher levels but lower levels good intraday support also between 4644-4678 therefore sustaining beyond today trading range will be confirmation of survival or breaking down of 64 sessions range. As intermediate term oscillators are oversold and two bullish Candles formations also yesterday therefore Indian markets are prepared for a strong bounce back and if Nifty sustains above 4720 then strong pull back rally will be seen.

Indian Stock Markets Closing Reports(23-Nov-2011)

Main features of today trading are as follows

1- All the Indices closed in Red except CD.
2- Black Candle.
3- Good recovery from lower levels.

Ratios

Nifty Put Call Ratio: 0.92
Nifty P/E Ratio(23-Nov-2011): 17.04

Advances & Declines

BSE ADVANCES : 766
BSE DECLINES : 2062
NSE ADVANCES : 302
NSE DECLINES : 1162

Nifty Open Interest Changed Today

Nifty- 4800 CE(Nov)- +1451850(+40.86%)
Nifty- 4800 PE(Nov)- -2588200(-49.33%)

Nifty- 4700 CE(Nov)- +2531500(+231.49%)
Nifty- 4700 PE(Nov)- -479150(-7.56%)

Nifty- 4600 CE(Nov)- +840700(+1578.78%)
Nifty- 4600 PE(Nov)- +1697850(+42.15%)

Closing 

Nifty- closed at 4,706.45(-105.90 Points & -2.20%)
Sensex- closed at 15,699.97(-365.45 Points & -2.27%% )
CNX MIDCAP - closed at 6,467.15(-110.80 Points & -1.68%)
BSE SMALL CAP- closed at 5,975.99 (-104.58 Points & -1.72%)

Nifty Spot-Levels & Trading Strategy for 24-11-2011

Nifty Spot-Levels

R3 4915
R2 4847
R1 4776
Avg 4708
S1 4637
S2 4569
S3 4498

Nifty Spot-Trading Strategy

H6 4846     Trgt 2
H5 4814     Trgt 1
H4 4782     Long breakout
H3 4744     Go Short
H2 4731
H1 4718
L1 4693
L2 4680
L3 4667     Long
L4 4629     Short Breakout
L5 4597     Trgt 1
L6 4565     Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 24-11-2011

Nifty(Nov Fut)-Levels

R3 4916
R2 4845
R1 4774
Avg 4703
S1 4632
S2 4561
S3 4490

Nifty(Nov Fut)-Trading Strategy

H6 4847     Trgt 2
H5 4814     Trgt 1
H4 4781     Long breakout
H3 4742     Go Short
H2 4729
H1 4716
L1 4689
L2 4676
L3 4663     Long
L4 4624     Short Breakout
L5 4591     Trgt 1
L6 4558     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 24-11-2011

Bank Nifty(Nov Fut)-Levels

R3 8863
R2 8703
R1 8550
Avg 8390
S1 8237
S2 8077
S3 7924

Bank Nifty(Nov Fut)-Trading Strategy

H6 8716     Trgt 2
H5 8642     Trgt 1
H4 8569     Long breakout
H3 8483     Go Short
H2 8454
H1 8425
L1 8368
L2 8339
L3 8310     Long
L4 8224     Short Breakout
L5 8151     Trgt 1
L6 8077     Trgt 2

Pre-Closing Outlook(23-11-2011)

Although 4720 broken down today but intraday support also seen at lower levels therefore today trading range break out will give confirmation that Nifty has finally sustained below 4720 or not.

Mid-session Outlook-2(23-11-2011)

Firstly selling between 4735-4750 and after that 4720 broken down today. As sharp decline below 4720 is after immediate selling therefore sustaining below 4720 possibility is higher now.

Intraday support also seen between 4644-4678 therefore intraday volatility can be seen between 4644-4720.

Mid-session Outlook(23-11-2011)

Intraday selling at higher levels confirmation therefore slipping and sustaining below 4720 possibility is high now.

Pre-open Outlook(23-11-2011)

Although US markets closed with marginal losses yesterday but Dow's futures is more than 150 points down and resultant Asian markets are also .65% to 2.1% down today morning.

Crashing Global cues again today therefore Nifty will trade between last support range(4745-4800) of previous 63 sessions range and finally sustaining below 4745 will mean breaking down of 63 sessions range as well as 2 years structure breaking down below 4720.

Finally sustaining below 4720 should be watched today and in the coming sessions because its survival will decide long term trend. 63 Sessions range was broken out(above 5229) after Diwali-2011 after good news from Greece but markets could not sustain above and again slipped into 63 sessions after flow of negative news from Europe. Now breaking down risk of 4720 therefore sustaining beyond 4720 will be cautiously watched in the coming sessions because its survival will depend on news from Europe also.

Sustaining beyond last support range(4745-4800) should be firstly watched amid depressing global sentiment today.

Two Bullish Candles in today EOD Charts

Technical Analysis and Research For 22-11-2011

Nifty-EOD Chart(21-Nov-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Gravestone Doji Bullish Candle
2- Bullish harami candle

Conclusions

Low to moderate reliable reversal patterns within and just above crucial support range(4745-4800) today therefore up moves expectations are alive and confirmations will be after follow up buying and consolidations tomorrow as well as sustaining above 4868.

Nifty-Micro Analysis of Intra Day Chart For 23-11-2011

Nifty-Intra Day Chart(22-Nov-2011):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Buying between 4784-4810
2- Selling between 4825-4852
3- Whole day trading between 4783-4854

Conclusions from intra day chart analysis 

Although higher levels good selling but lower levels buying also seen therefore view will not be bearish despite slipping from higher levels. Nifty traded between(4783-4854) today and immediate crucial ranges beyond these two ranges are as follows;-

1- Support range within and below today trading range 4745-4800
2- Resistance range within and above today trading range 4850-4868

Expected that Nifty will firstly move within 4745-4868 tomorrow and finally break out and sustaining beyond this range as well as will give following decisive conclusions;-

1- Below 4745 will mean high possibility of crashing like situations
2- Above 4868 will mean fresh up moves within 63 sessions range(4720-5229)

Indian Stock Markets Closing Reports(22-Nov-2011)

Main features of today trading are as follows

1- All the Indices closed in Green except FMCG and CD.
2- Doji Candle.
3- Closing at lower levels after selling at higher levels.


Ratios

Nifty Put Call Ratio: 0.88
Nifty P/E Ratio(22-Nov-2011): 17.42

Advances & Declines

BSE ADVANCES : 1360
BSE DECLINES : 1416
NSE ADVANCES : 736
NSE DECLINES : 705

Nifty Open Interest Changed Today

Nifty- 4700 CE(Nov)- -24650(-2.16%)
Nifty- 4700 PE(Nov)- +1065900(+18.19%)

Nifty- 4800 CE(Nov)- +90100(+2.53%)
Nifty- 4800 PE(Nov)- +114600(+2.10%)

Closing 

Nifty- closed at 4,812.35(+34.00 Points & +0.71%)
Sensex- closed at 16,065.42(+119.32 Points & +0.75% )
CNX MIDCAP - closed at 6,577.95(+37.00 Points & +0.57%)
BSE SMALL CAP- closed at 6,080.57(+1.91 Points & +0.03%)

Nifty Spot-Levels & Trading Strategy for 23-11-2011

Nifty Spot-Levels

R3 4922
R2 4888
R1 4850
Avg 4816
S1 4778
S2 4744
S3 4706

Nifty Spot-Trading Strategy

H6 4884     Trgt 2
H5 4868     Trgt 1
H4 4851     Long breakout
H3 4831     Go Short
H2 4825
H1 4818
L1 4805
L2 4798
L3 4792     Long
L4 4772     Short Breakout
L5 4755     Trgt 1
L6 4739     Trgt 2

Nifty(Nov Fut)-Levels & Trading Strategy for 23-11-2011

Nifty(Nov Fut)-Levels

R3 4930
R2 4895
R1 4850
Avg 4815
S1 4770
S2 4735
S3 4690

Nifty(Nov Fut)-Trading Strategy

H6 4885     Trgt 2
H5 4867     Trgt 1
H4 4849     Long breakout
H3 4827     Go Short
H2 4819
H1 4812
L1 4797
L2 4790
L3 4783     Long
L4 4761     Short Breakout
L5 4742     Trgt 1
L6 4724     Trgt 2

Bank Nifty(Nov Fut)-Levels & Trading Strategy for 23-11-2011

Bank Nifty(Nov Fut)-Levels

R3 8878
R2 8794
R1 8694
Avg 8610
S1 8510
S2 8426
S3 8326

Bank Nifty(Nov Fut)-Trading Strategy

H6 8779     Trgt 2
H5 8737     Trgt 1
H4 8695     Long breakout
H3 8644     Go Short
H2 8627
H1 8610
L1 8577
L2 8560
L3 8543     Long
L4 8492     Short Breakout
L5 8450     Trgt 1
L6 8408     Trgt 2

Pre-Closing Outlook(22-11-2011)

Intraday technical positions have already been explained in all previous outlooks. Intraday selling seen between 4825-4852 today and it will ne next resistance. Minor intraday support seen at lower levels between 4780-4810.

Mixed intraday pattterns between 4780-4852 and sustaining beyond this range will be firstly watched tomorrow for confirmation.

Mid-session Outlook-2(22-11-2011)

Although Indian markets recovered from lower levels and whole day moved up also but intraday patterns are suggesting selling formations and selling seen at higher levels today. As selling seen just below next resistance range(4850-4868) therefore Until Nifty will sustain 4868 till then next up move will not be considered.

Decisive moves confirmation levels

Mid-session Outlook(22-11-2011)

Today trading Range of 4780-4830 was given and Nifty traded most of the time within this range. Although Nifty moved above 4830 but could not sustained above and reversed into mentioned range after minor intraday selling. Next Resistances are as follows:-

1- 4818-4830(Minor) 
2- 4850-4868(strong)

Last support range of previous 62 sesssions is:-

4745-4800

Sustaining beyond 4780-4830 will be firstly watched for first step towards next decisive moves because next moves confirmations will be either above 4868 or below 4745.

Most uncertain news flow and highly volatile global markets therefore only sustaining beyond crucial levels will be next moves confirmations.

Pre-open Outlook(22-11-2011)

Although US and European markets closed in deep Red yesterday but its futures are Asian markets are .45% to 1% up today morning and all the Asian markets are flat today morning therefore Indian markets will also open flat to positive today. Short term indicators are oversold after more than 600 Nifty points straight fall therefore its correction in the form of pull back rally is on cards and if devastating news flow stops then up moves will start.

Market require complete consolidation minimum first resistance crossing will be next up moves confirmation. Nifty will firstly trade between 4780-4830 and prepare for next moves,crossing of this range will be next moves confirmation.

FII Trading Data in Derivatives Segment on 21-Nov-2011

FII & DII trading activity in Capital Market Segment on 21-Nov-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 21-Nov-2011 1886.49 2629.51 -743.02

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 21-Nov-2011 1351.35 755.8 595.55