Bank Nifty(Mar Fut)-Levels & Trading Strategy for 05-03-2012

Bank Nifty(Mar Fut)-Levels

R3 11109
R2 10892
R1 10702
Avg 10485
S1 10295
S2 10078
S3 9888

Bank Nifty(Mar Fut)-Trading Strategy

H6 10928     Trgt 2
H5 10832     Trgt 1
H4 10735     Long breakout
H3 10623     Go Short
H2 10586
H1 10549
L1 10474
L2 10437
L3 10400     Long
L4 10288     Short Breakout
L5 10191     Trgt 1
L6 10095     Trgt 2

Pre-Closing Outlook(02-03-2012)

Following line was told in the Weekly Outlook(Feb 27 to Mar 02,2012) on 26-02-2012:-

strong supports also between 5340-5415 therefore complete distribution is must for slipping below 5340.

Importance of 5340 was also told daily in whole of this week and Nifty hovered it around only this level and did not sustain below it also in this week.

We also told today for support at 5298 and Nifty traded whole day above it. Although selling at higher levels in this week but support also at lower levels and Intermediate term trend decider 5340 is intact therefore rally hopes after correction completion near 5340 are very much alive.

Mid-session Outlook-2(02-03-2012)

Following line was told in Mid-session Outlook(02-03-2012)

sustaining above will be strong indication of rally after correction completion.

Nifty moved above 5380 but could not sustain and again slipped below therefore not given correction completion confirmation. Sustaining beyond following ranges should be watched for next moves confirmations:-

1- 5298-5380(Two days range with lower levels good support)(For first indication)
2- 5298-5458(Three days range with lower levels good support and higher levels good selling)(For confirmation)

Cautions approach is also required because market will be volatile and will react Assembly election results also results in next week.

Mid-session Outlook(02-03-2012)

Sentiment was nervous today morning due to the issue of ONGC disinvestment only by LIC therefore market slipped but got support at lower levels today. As today intraday support is above yesterday support therefore yesterday support has strengthened.

Next very short term move confirmations range of 5298-5380 was given within 15 minutes after opening and today trading range at this moment is 5315.05-5378.30. Today intraday charts are showing support at lower levels as well as up moves with consolidation formation therefore finally moves above 5380 is expected and sustaining above will be strong indication of rally after correction completion.

Trading session on Saturday(03-03-2012)

Indian Stock Markets(NSE & BSE) will remain open from 11:00 a.m.( inclusive of Pre-opening )till 12:45 p.m. on  March 3, 2012 on Saturday

Fresh position in MarginPlus in BSE will not be allowed in Saturday Trading session

You can place overnight orders in cash segment and also trade in Futures & Options

Spot facility would be disabled for Saturday trading session

Post-open Outlook(02-03-2012)

Sentiment completely disturbed today due to ONGC issue therefore flat Indian markets today. Good support at lower levels yesterday but lack of confidence due to mentioned news and ONGC is more than 3.45% down immediately after opening.

Sentiment is nervours today morning therefore firstly watch sustaining beyond 5298-5380 for next very short term move confirmations.

Rally continuation after correction completion

Nifty-Intra Day Chart(Feb27 to Mar 01,2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 4 sessions intraday charts

1- Hovering around Intermediate term deciding 5340
2- Support at 5298 in last 4 days
3- Resistance at 5458 in last 4 days
4- selling between 5458-5422 on 29-02-2012
5- Support and consolidation betwen 5298-5332 on 01-03-2012
4- Positive divergence in MACD

Conclusions

Intermediate term deciding level is 5340 and its importance is being told daily for the last 5 days. Nifty is hovering it around as well as closed exactly at 5,339.75 today. 

5340 broken down in last 4 sessions but could not sustain and recovered also after intraday Support and consolidation betwen 5298-5332 on 01-03-2012 and until Nifty will not sustain below 5298 till then down moves will not be considered.

Correction is on after 1098 Nifty points rally and both lower levels support and higher levels selling seen in last 4 days seen between 5298-5458. As support and Positive divergence seen in Intraday chart today therefore up moves are expected tomorrow and correction completion hopes at 5340 is still alive.

Although premature to say at this moment but last 4 sessions intraday charts have started to show consolidation indications therefore possibilities of rally above 5458 increased after some more consolidations between 5298-5458.

Rally continuation is expected in the coming weeks after on going correction completion.

FII Trading Data in Derivatives Segment on 01-Mar-2012

Indian Stock Markets Closing Reports(01-Mar-2012)

Main features of today trading are as follows

1  All the Indices closed in Red except HC.
2- Whole day negative zone trading after weak opening.
3- Bullish Hammer Candle.

Ratios

Nifty Put Call Ratio: 1.03
Nifty P/E Ratio(01-Mar-2012): 18.92

Advances & Declines

BSE Advances : 1228
BSE Declines : 1626
NSE Advances :  561
NSE Declines :  874

Nifty Open Interest Changed Today

Nifty- 5200 CE(Mar)- +34800(+1.69%)
Nifty- 5200 PE(Mar)- -65300(-0.86%)

Nifty- 5300 CE(Mar)- +356450(+21.32%)
Nifty- 5300 PE(Mar)- +225800(+3.64%)

Nifty- 5400 CE(Mar)- +760900(+30.80%)
Nifty- 5400 PE(Mar)- -174200(-4.52%)

Nifty- 5500 CE(Mar)- +401650(+10.56%)
Nifty- 5500 PE(Mar)- -15300(-0.48%)

Closing 

Nifty- closed at 5,339.75(-45.45 Points & -0.84%)
Sensex- closed at 17,583.97(-168.71 Points & -0.95% )
CNX Midcap - closed at 7,663.80(- 41.80 Points & -0.54%)
BSE Smallcap- closed at 6,833.85(-26.12 Points & -0.38%)

FII & DII trading activity in Capital Market Segment on 01-Mar-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 01-Mar-2012 2133.21 2259.73 -126.52

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 01-Mar-2012 998.54 1008.51 -9.97

Nifty Spot-Levels & Trading Strategy for 02-03-2012

Nifty Spot-Levels

R3 5450
R2 5411
R1 5375
Avg 5336
S1 5300
S2 5261
S3 5225

Nifty Spot-Trading Strategy

H6 5414     Trgt 2
H5 5397     Trgt 1
H4 5380     Long breakout
H3 5359     Go Short
H2 5352
H1 5345
L1 5332
L2 5325
L3 5318     Long
L4 5297     Short Breakout
L5 5280     Trgt 1
L6 5263     Trgt 2

Nifty(Mar Fut)-Levels & Trading Strategy for 02-03-2012

Nifty(Mar Fut)-Levels

R3 5517
R2 5472
R1 5431
Avg 5386
S1 5345
S2 5300
S3 5259

Nifty(Mar Fut)-Trading Strategy

H6 5476     Trgt 2
H5 5457     Trgt 1
H4 5437     Long breakout
H3 5413     Go Short
H2 5405
H1 5397
L1 5382
L2 5374
L3 5366     Long
L4 5342     Short Breakout
L5 5322     Trgt 1
L6 5303     Trgt 2

Bank Nifty(Mar Fut)-Levels & Trading Strategy for 02-03-2012

Bank Nifty(Mar Fut)-Levels

R3 10754
R2 10626
R1 10505
Avg 10377
S1 10256
S2 10128
S3 10007

Bank Nifty(Mar Fut)-Trading Strategy

H6 10636     Trgt 2
H5 10578     Trgt 1
H4 10520     Long breakout
H3 10452     Go Short
H2 10429
H1 10406
L1 10361
L2 10338
L3 10315     Long
L4 10247     Short Breakout
L5 10189     Trgt 1
L6 10131     Trgt 2

Pre-Closing Outlook(01-03-2012)

Although Indian markets slipped whole day from higher levels and traded in Red but without intraday selling patterns therefore we never told for today intraday selling. Lower levels support was projected in Mid-session Outlook and sharp more than 57 Nifty points recovery was seen from lower levels.

Although first 4 hours trading range lowest was at 5313 but we were expecting support at lower levels therefore we gave 5300 for down move confirmation and Nifty reversed exactly from 5297.50.

Nifty is hovering around 5340 for the last 4 sessions and lower levels support also seen after last 2 sessions higher levels selling therefore next moves preparation and next trend confirmation range is 5298-5458.

Mid-session Outlook(01-03-2012)

As 5340 is Intermediate term trend decider therefore its importance is being continuously being today daily for the last one week and Nifty is hovering it around for the last 4 days.

Nifty is trading between 5313-5349 since opening today and preparing for next decisive move. Although Nifty could not sustain at higher levels but getting support at lower levels also. If Nifty slips below 5300 then it will be deep down confirmation and sustaining above 5349 will be confirmation of today consolidation as well survival of Intermediate term uptrend.

Post-open Outlook-2(01-03-2012)

Nifty slipped below 5346/5340 and sustaining below confirmations will mean deeper correction possibility after Intermediate term trend turning down.

All the important points and crucial levels for a market below 5340 have already been been discussed and updated on 27-02-2012 in following topic:-

Bull/Bear Match Deciding Over between 
5120-5190

Just click above topic link and prepare yourself for Intermediate term down trend

Post-open Outlook(01-03-2012)

As selling yesterday therefore Following 4 projections were given today in 5346-5390 break out for correction continuation/completion confirmation:-

1- More than 3 hours good selling between 5458-5422
2- market require more consolidation to cross 5458
3- As good selling therefore correction continuation risk turned higher
4- until Nifty will not sustain above 5458 till then next up move will not be considered.

Weak opening today therefore Intermediate trend turning down risk turned high.

5346-5390 break out for correction continuation/completion confirmation

Nifty-Intra Day Chart(Feb 28 and Feb 29,2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 2 sessions intraday charts

1- More than 5 hours trading between 5346-5390 on 28-02-2012
2- More than 2 hours trading between 5346-5390 on 29-02-2012
3- More than 3 hours good selling between 5458-5422 on 29-02-2012
4- Minor support between 5357-5372 on 29-02-2012
5- Technical position of 28-02-2012 has been updated in Firstly Watch Correction fate decider 5346-5390 on 28-02-2012

Conclusions

Correction of 1098 Nifty Points rally is on and Short term trend is confirm down. Intermediate term trend is at stake and sustaining beyond 5340 will decide its fate.

Nifty traded more than 7 hours between 5346-5390 in last 2 sessions with mixed intraday patterns and sustaining below 5346 will mean intermediate term trend turning down and sharp down moves will be seen to test next support ranges. Sustaining above 5390 will mean rally continuation after correction completion.

More than 3 hours good selling between 5458-5422 and lower level minor support on 29-02-2012 therefore market require more consolidation to cross 5458. As good selling therefore correction continuation risk turned higher and until Nifty will not sustain above 5458 till then next up move will not be considered.

More than 7 hours trading between 5346-5390 in 2 previous sessions with buying at lower levels and selling at higher levels within and above this range therefore expected that Nifty will firstly trade between this range and sustaining below this range will give deeper correction confirmation after sustaining below 5346 and correction completion first indication above 5390 and confirmation will be above 5458.

Indian Stock Markets Closing Reports(29-Feb-2012)

Main features of today trading are as follows

1- Most Indices closed with minor gains or minor loss.
2- Most Indices slipped from intraday higher levels and closed little above intraday lows.
3- Black Candle.

Ratios

Nifty Put Call Ratio: 1.10
Nifty P/E Ratio(29-Feb-2012): 19.09

Advances & Declines

BSE Advances : 1573
BSE Declines : 1329
NSE Advances :  844
NSE Declines :  600

Closing 

Nifty- closed at 5,385.20(+9.70 Points & +0.18%)
Sensex- closed at 17,752.68(+21.56 Points & +0.12% )
CNX Midcap - closed at 7,705.60(+94.30 Points & +1.24%)
BSE Smallcap- closed at 6,859.97(+42.06 Points & +0.62%)

FII & DII trading activity in Capital Market Segment on 29-Feb-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 29-Feb-2012 3666.24 3086.61 579.63

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 29-Feb-2012 1113.77 1544.84 -431.07

Nifty Spot-Levels & Trading Strategy for 01-03-2012

Nifty Spot-Levels

R3 5550
R2 5504
R1 5444
Avg 5398
S1 5338
S2 5292
S3 5232

Nifty Spot-Trading Strategy

H6 5491      Trgt 2
H5 5467    Trgt 1
H4 5443    Long breakout
H3 5414     Go Short
H2 5404
H1 5394
L1 5375
L2 5365
L3 5355    Long
L4 5326    Short Breakout
L5 5302     Trgt 1
L6 5278     Trgt 2