Pull Back Rally Continuation after Today Consolidations

Nifty-Micro Analysis of Intra Day Chart For 26-12-2011

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Five Falling Channels
2- Upside break out in last biggest Falling Channel of the day.
3- Whole day intraday consolidation pattern formation despite negtive closing today.
4- Whole day trading between 4694-4763

Conclusions from intra day chart analysis 

Pull Back rally is on and today negative closing as well as intraday correction was very much expected therefore following lines were told  yesterday in Continuation of Rally after Consolidation and Minor Intraday Correction

"minor intraday correction is firstly required and tomorrow may be consolidation day but expected that Pull Back Rally will remain continued in the next week"

Although more consolidation may be seen in the beginning of next week but whole day intraday pattern is suggesting consolidation formation today therefore no threat to previous week started rally and its continuation will be seen after completion of minor correction today. 

More topics will also be updated before the opening of next Monday market for confirmation of above given conclusion and more guidance.

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

Main features of today trading are as follows

1- Red closing.
2- Black Candle.
3- Intraday condolidation patterns therefore up moves are expected in the next week despite negative closing today.

Ratios

Nifty Put Call Ratio: 0.90
Nifty P/E Ratio(23-Dec-2011): 17.07

Advances & Declines

BSE ADVANCES : 1557
BSE DECLINES : 1211
NSE ADVANCES : 792
NSE DECLINES : 619

Nifty Open Interest Changed Today

Nifty- 4600 CE(Dec)- -243300(-8.20%)
Nifty- 4600 PE(Dec)- +659250(+10.32%)

Nifty- 4700 CE(Dec)- 81050(+1.81%)
Nifty- 4700 PE(Dec)- +1200550(+24.12%)

Nifty- 4800 CE(Dec)- +1361100(+25.13%)
Nifty- 4800 PE(Dec)- -87050(-2.21%)

Closing 

Nifty- closed at 4,714.00(-19.85 Points & -0.42%)
Sensex- closed at 15,738.70(-74.66 Points & -0.47% )
CNX MIDCAP - closed at 6,187.65(-21.10 Points & -0.34%)
BSE SMALL CAP- closed at 5,614.90(+59.40 Points & +1.07%)

FII Trading Data in Derivatives Segment on 23-Dec-2011

FII & DII trading activity in Capital Market Segment on 23-Dec-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 23-Dec-2011 1281.1 1196.83 84.27

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 23-Dec-2011 651.02 729.57 -78.55

Nifty Spot-Levels & Trading Strategy for 26-12-2011

Nifty Spot-Levels

R3 4823
R2 4793
R1 4753
Avg 4723
S1 4683
S2 4653
S3 4613

Nifty Spot-Trading Strategy

H6 4784     Trgt 2
H5 4768     Trgt 1
H4 4752     Long breakout
H3 4733     Go Short
H2 4726
H1 4720
L1 4707
L2 4701
L3 4694     Long
L4 4675     Short Breakout
L5 4659     Trgt 1
L6 4643     Trgt 2

Nifty(Dec Fut)-Levels & Trading Strategy for 26-12-2011

Nifty(Dec Fut)-Levels

R3 4847
R2 4812
R1 4766
Avg 4731
S1 4685
S2 4650
S3 4604

Nifty(Dec Fut)-Trading Strategy

H6 4801     Trgt 2
H5 4782     Trgt 1
H4 4764     Long breakout
H3 4742     Go Short
H2 4734
H1 4727
L1 4712
L2 4705
L3 4697     Long
L4 4675     Short Breakout
L5 4657     Trgt 1
L6 4638     Trgt 2

Bank Nifty(Dec Fut)-Levels & Trading Strategy for 26-12-2011

Bank Nifty(Dec Fut)-Levels

R3 8652
R2 8558
R1 8425
Avg 8331
S1 8198
S2 8104
S3 7971

Bank Nifty(Dec Fut)-Trading Strategy

H6 8520     Trgt 2
H5 8468     Trgt 1
H4 8416     Long breakout
H3 8354     Go Short
H2 8333
H1 8312
L1 8271
L2 8250
L3 8229     Long
L4 8167     Short Breakout
L5 8115     Trgt 1
L6 8063     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Dec 26 to Dec 30,2011)

Nifty Spot-Weekly Levels

R3 5039
R2 4901
R1 4807
Avg 4669
S1 4575
S2 4437
S3 4343

Nifty Spot-Weekly Trading Strategy 

H6 4955     Trgt 2
H5 4898     Trgt 1
H4 4841     Long breakout
H3 4777     Go Short
H2 4756
H1 4735
L1 4692
L2 4671
L3 4650     Long
L4 4586     Short Breakout
L5 4529     Trgt 1
L6 4472     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(Dec 26 to Dec 30,2011)

Bank Nifty Spot-Weekly Levels

R3 9261
R2 8856
R1 8576
Avg 8171
S1 7891
S2 7486
S3 7206

Bank Nifty Spot-Weekly Trading Strategy 

H6 9023     Trgt 2
H5 8846     Trgt 1
H4 8668     Long breakout
H3 8480     Go Short
H2 8417
H1 8354
L1 8229
L2 8166
L3 8103     Long
L4 7915     Short Breakout
L5 7737     Trgt 1
L6 7560     Trgt 2

Pre-Closing Outlook(23-12-2011)

Following line was told yesterday in Continuation of Rally after Consolidation and Minor Intraday Correction:-

As Bearish pattern in last half hour therefore more consolidation and minor intraday correction is firstly required and tomorrow may be consolidation day

As was told yesterday all that proved 100% accurate today and Indidan markets lost all intraday gains as well as trading more than half pct down. Although market slipped from higher levels but intraday patterns are not showing pure selling patterns and consolidation indications also seen therefore same following line is being repeated which was told in above mentioned topic:-

 Pull Back Rally will remain continued in the next week

Mid-session Outlook(23-12-2011)

Dow's Futures is more than 50 points up and most of the Asian markets were also 1% to 2% up therefore Indian markets opened gap up but slipped into Red immediately after opening today and trading with minor gains  despite strong Global cues. As this intraday move was expected therefore it was told also in following topic yesterday:-

Continuation of Rally after Consolidation and Minor Intraday Correction

Minor intraday correction has already been seen immediately after opening today. As no clear patterns developed yet therefore today trading range forceful break out and sustaining beyond will be next very short term moves confirmation.

Continuation of Rally after Consolidation and Minor Intraday Correction

Nifty-Micro Analysis of Intra Day Chart For 23-12-2011

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 4635-4663
2- Rising Channel rally
3-Channel broken down in last 10 minutes minor Rising Wedge(Bearish Pattern) formation in last half hour.
4- Whole day trading between  4632-4740

Conclusions from intra day chart analysis

As Bearish pattern in last half hour therefore more consolidation and minor intraday correction is firstly required and tomorrow may be consolidation day but expected that Pull Back Rally will remain continued in the next week.

Two Most Crucial Patterns Revival in last 2 Days

Technical Analysis and Research For 23-12-2011

Nifty-EOD Chart(22-Dec-2011):-

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Technical Patterns and Formations in EOD charts

1- Nifty entered into 90 sessions trading range(4720-5229) and its existance again revived today
2- Yesterday revival of 90 Sessions trend reversal Broadening Pattern at the bottom of 13 months correction.

Conclusions

When above mentioned two patterns broken down then its confirmation requirement was told in following topic:-

Sustaining beyond 4640 will decide the fate of Bulls and Bears(Weekly Outlook(Dec 19 to Dec 23,2011))

Both patterns revived in two previous sessions and survival confirmation is left through crossing and sustaining above minimum one next resistances between 4780-4838. Last 2 sessions bounce back only and its possibility with 3 expected targets(2 have been achieved) were updated in following topic on 17-12-2011:-

Bounce back Possible Next Monday

Expected that yesterday started rally will remain continued in the coming week after more consolidations and crossing of above mentioned next resistance.

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

Main features of today trading are as follows

1- Most of the Indices closed near the top of the day and in Green.
2- Long White Candle.
3- Continuation of rally after intraday consolidation.

Ratios

Nifty Put Call Ratio: 0.87
Nifty P/E Ratio(22-Dec-2011): 17.14

Advances & Declines

BSE ADVANCES : 1553
BSE DECLINES : 1186
NSE ADVANCES :  864
NSE DECLINES :  566

Nifty Open Interest Changed Today

Nifty- 4700 CE(Dec)- -64450(-1.38%)
Nifty- 4700 PE(Dec)- +584100(+11.68%)

Nifty- 4800 CE(Dec)- +981550(+21.22%)
Nifty- 4800 PE(Dec)- +813700(+24.49%)

Closing 

Nifty- closed at 4,733.85(+40.70 Points & +0.87%)
Sensex- closed at 15,813.36(+128.15 Points & +0.82% )
CNX MIDCAP - closed at 6,208.75(+88.85 Points & +1.45%)
BSE SMALL CAP- closed at 5,555.50(+38.65 Points & +0.70%)

FII Trading Data in Derivatives Segment on 22-Dec-2011

FII & DII trading activity in Capital Market Segment on 22-Dec-2011

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 22-Dec-2011 1852.18 2088.57 -236.39

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 22-Dec-2011 1045.8 816.06 229.74

Nifty Spot-Levels & Trading Strategy for 23-12-2011

Nifty Spot-Levels

R3 4879
R2 4809
R1 4771
Avg 4701
S1 4663
S2 4593
S3 4555

Nifty Spot-Trading Strategy

H6 4843     Trgt 2
H5 4817     Trgt 1
H4 4792     Long breakout
H3 4762     Go Short
H2 4752
H1 4742
L1 4723
L2 4713
L3 4703     Long
L4 4673     Short Breakout
L5 4648     Trgt 1
L6 4622     Trgt 2

Nifty(Dec Fut)-Levels & Trading Strategy for 23-12-2011

Nifty(Dec Fut)-Levels

R3 4908
R2 4833
R1 4790
Avg 4715
S1 4672
S2 4597
S3 4554

Nifty(Dec Fut)-Trading Strategy

H6 4868     Trgt 2
H5 4840     Trgt 1
H4 4812     Long breakout
H3 4780     Go Short
H2 4769
H1 4758
L1 4737
L2 4726
L3 4715     Long
L4 4683     Short Breakout
L5 4655     Trgt 1
L6 4627     Trgt 2

Bank Nifty(Dec Fut)-Levels & Trading Strategy for 23-12-2011

Bank Nifty(Dec Fut)-Levels

R3 8855
R2 8637
R1 8515
Avg 8297
S1 8175
S2 7957
S3 7835

Bank Nifty(Dec Fut)-Trading Strategy

H6 8746     Trgt 2
H5 8663     Trgt 1
H4 8580     Long breakout
H3 8486     Go Short
H2 8455
H1 8424
L1 8361
L2 8330
L3 8299     Long
L4 8206     Short Breakout
L5 8122     Trgt 1
L6 8039     Trgt 2

Pre-Closing Outlook(22-12-2011)

Intraday consolidation confirmation and with this Pull Back Rally continuations confirmation also

Mid-session Outlook-2(22-12-2011)

Weak opening after negative Asian markets and now up moves after more than 1% up European markets. Although Indian markets slipped after first 2 hours intraday selling but zoomed up after opening of European markets. As last 55 minutes mixed patterns and today first 2 hours selling formations therefore some more consolidation is required.

Following lines of today Post-open Outlook are being repeated for next moves confirmations:-

"Nifty will trade between yesterday range first of all and prepare for next moves. Fresh consolidation is required for continuation of yesterday begun Pull Back rally and it is expected also. Coming hours intraday charts formations and sustaining beyond yesterday trading range(4602-4705) will be next moves confirmation"