Technically Indian markets are well prepared for a rally and it is expected also but selling seen between 5426-5444 today therefore firstly sustaining beyond this range should be firstly watched today. Highly volatile markets and technical positions reverses in such markets therefore sustaining beyond yesterday range(5362-5447) will be next decisive move confirmation.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(16-03-2012)
As selling seen between 5426-5444 today therefore sustaining beyond this range will be firstly watched today amid highly volatile market. Sustaining beyond yesterday range(5362-5447) will be market reaction on Budget.
As selling seen today therefore view turned cautious despite whole day positive market today and equally fresh consolidation is firstly required within yesterday range for moves above 5444.
Trade Carefully otherwise such volatile markets are good for stop loss triggering.
As selling seen today therefore view turned cautious despite whole day positive market today and equally fresh consolidation is firstly required within yesterday range for moves above 5444.
Trade Carefully otherwise such volatile markets are good for stop loss triggering.
Continuation of Rally after Union Budget-2012
Technical Analysis and Research For 16-03-2012
Nifty-EOD Chart(15-Mar-2012):-
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| Just click on chart for its enlarged view |
1- Impulsive Wave-1 from 4531.15 to 5629.95.
2- Corrective Wave-2 from 5629.95 to 5171.45 and 38.2% retracement completion at 5209.
3- 4 Days Impulsive Wave-3 from 5171.45 to 5499.40.
4- Minnor correction of 4 Days Impulsive Wave-3 from 5499.40 to 5362.30 and 38.2% retracement completion at 5373 on 15-03-2012.
Conclusions from EOD chart analysis
Very short term indicators turned overbought after 4 days rally and resultant 38.2% correction today on the back on adverse news flow. Expected that ongoing impulsive Wave-3 will remain continued in the coming sessions after today correction completion.
Nifty-Intra Day Chart(15-Mar-2012):-
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| Just click on chart for its enlarged view |
1- Selling between 5430-5447
2- More than 3 hours Consolidation Patterns between- 5362-5396
3- Whole day trading between 5362-5447
Conclusions from intra day chart analysis
As more than 3 hours intraday consolidation pattern therefore indication of on going rally continuation after correction completion today at 38.2% retracement level.
Conclusions (After Putting All Indicators Together)
All trends are up and intraday support seen at lower levels today therefore strong indication of correction completion today and expected that on going rally will remain continued in the coming sessions.
Nifty will firstly trade between today trading range(5362-5447) tomorrow. Indian markets are technically mature for rally in the coming sessions and its continuation will be seen tomorrow despite whatsoever Union Budget-2012.
FII & DII trading activity in Capital Market Segment on 15-Mar-2012
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Indian Stock Markets Closing Reports(15-Mar-2012)
Main features of today trading are as follows
1- Red closing.
2- Black Candle.
3- All the Indices closed in Red.
Ratios
Nifty Put Call Ratio:0.93
Nifty P/E Ratio(15-Mar-2012):19.01
Advances & Declines
BSE Advances : 965
BSE Declines 1903
NSE Advances : 379
NSE Declines :1073
Nifty Open Interest Changed Today
Nifty- 5200 CE(Mar)- -5400(-0.22%)
Nifty- 5200 PE(Mar)- +73800(+0.82%)
Nifty- 5300 CE(Mar)- -226300(-7.83%)
Nifty- 5300 PE(Mar)- -90700(-1.40%)
Nifty- 5400 CE(Mar)- +621000(+17.850%)
Nifty- 5400 PE(Mar)- +395700(+8.60%)
Nifty- 5500 CE(Mar)- +1569050(+31.49%)
Nifty- 5500 PE(Mar)- -402950(-11.26%)
Nifty- 5600 CE(Mar)- +1454350(+25.97%)
Nifty- 5600 PE(Mar)- -35900(-2.41%)
Nifty- 5700 CE(Mar)- +1156600(+23.53%)
Nifty- 5700 PE(Mar)- -21300(-3.97%)
Closing
Nifty- closed at 5,380.50(-83.40 Points & -1.53%%)
Sensex- closed at 17,675.85(-243.45 Points & -1.36%)
CNX Midcap - closed at 7,727.35(-159.00 Points & -2.02%)
BSE Smallcap- closed at 6,780.45(-66.19 Points & -0.97%)
1- Red closing.
2- Black Candle.
3- All the Indices closed in Red.
Ratios
Nifty Put Call Ratio:0.93
Nifty P/E Ratio(15-Mar-2012):19.01
Advances & Declines
BSE Advances : 965
BSE Declines 1903
NSE Advances : 379
NSE Declines :1073
Nifty Open Interest Changed Today
Nifty- 5200 CE(Mar)- -5400(-0.22%)
Nifty- 5200 PE(Mar)- +73800(+0.82%)
Nifty- 5300 CE(Mar)- -226300(-7.83%)
Nifty- 5300 PE(Mar)- -90700(-1.40%)
Nifty- 5400 CE(Mar)- +621000(+17.850%)
Nifty- 5400 PE(Mar)- +395700(+8.60%)
Nifty- 5500 CE(Mar)- +1569050(+31.49%)
Nifty- 5500 PE(Mar)- -402950(-11.26%)
Nifty- 5600 CE(Mar)- +1454350(+25.97%)
Nifty- 5600 PE(Mar)- -35900(-2.41%)
Nifty- 5700 CE(Mar)- +1156600(+23.53%)
Nifty- 5700 PE(Mar)- -21300(-3.97%)
Closing
Nifty- closed at 5,380.50(-83.40 Points & -1.53%%)
Sensex- closed at 17,675.85(-243.45 Points & -1.36%)
CNX Midcap - closed at 7,727.35(-159.00 Points & -2.02%)
BSE Smallcap- closed at 6,780.45(-66.19 Points & -0.97%)
Nifty Spot-Levels & Trading Strategy for 16-03-2012
Nifty Spot-Levels
R3 5540
R2 5501
R1 5440
Avg 5401
S1 5340
S2 5301
S3 5240
Nifty Spot-Trading Strategy
H6 5480 Trgt 2
H5 5457 Trgt 1
H4 5435 Long breakout
H3 5407 Go Short
H2 5398
H1 5389
L1 5370
L2 5361
L3 5352 Long
L4 5325 Short Breakout
L5 5302 Trgt 1
L6 5279 Trgt 2
R3 5540
R2 5501
R1 5440
Avg 5401
S1 5340
S2 5301
S3 5240
Nifty Spot-Trading Strategy
H6 5480 Trgt 2
H5 5457 Trgt 1
H4 5435 Long breakout
H3 5407 Go Short
H2 5398
H1 5389
L1 5370
L2 5361
L3 5352 Long
L4 5325 Short Breakout
L5 5302 Trgt 1
L6 5279 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 16-03-2012
Nifty(Mar Fut)-Levels
R3 5596
R2 5552
R1 5485
Avg 5441
S1 5374
S2 5330
S3 5263
Nifty(Mar Fut)-Trading Strategy
H6 5530 Trgt 2
H5 5505 Trgt 1
H4 5480 Long breakout
H3 5449 Go Short
H2 5439
H1 5429
L1 5408
L2 5398
L3 5388 Long
L4 5357 Short Breakout
L5 5332 Trgt 1
L6 5307 Trgt 2
R3 5596
R2 5552
R1 5485
Avg 5441
S1 5374
S2 5330
S3 5263
Nifty(Mar Fut)-Trading Strategy
H6 5530 Trgt 2
H5 5505 Trgt 1
H4 5480 Long breakout
H3 5449 Go Short
H2 5439
H1 5429
L1 5408
L2 5398
L3 5388 Long
L4 5357 Short Breakout
L5 5332 Trgt 1
L6 5307 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 16-03-2012
Bank Nifty(Mar Fut)-Levels
R3 11288
R2 11143
R1 10898
Avg 10753
S1 10508
S2 10363
S3 10118
Bank Nifty(Mar Fut)-Trading Strategy
H6 11045 Trgt 2
H5 10957 Trgt 1
H4 10868 Long breakout
H3 10761 Go Short
H2 10725
H1 10689
L1 10618
L2 10582
L3 10546 Long
L4 10439 Short Breakout
L5 10350 Trgt 1
L6 10262 Trgt 2
R3 11288
R2 11143
R1 10898
Avg 10753
S1 10508
S2 10363
S3 10118
Bank Nifty(Mar Fut)-Trading Strategy
H6 11045 Trgt 2
H5 10957 Trgt 1
H4 10868 Long breakout
H3 10761 Go Short
H2 10725
H1 10689
L1 10618
L2 10582
L3 10546 Long
L4 10439 Short Breakout
L5 10350 Trgt 1
L6 10262 Trgt 2
Pre-Closing Outlook(15-03-2012)
Higher levels selling and lower levels buying.Nifty will trade within today range tomorrow.
Mid-session Outlook(15-03-2012)
Day of negative news led sharp fall today today and correction of last 4 sessions surge just before Budget-2012. Although selling at higher levels today but next support is within 5334-5350 and will be first watched today and tomorrow for getting confirmation of rally continuation.
Status Quo in RBI Credit Policy
Market was expecting rates cut but no change in all the rates therefore sharp fall after Credit Policy announcement and Nifty slipped below 5417. Sustaining beyond 5417 will be firstly watched for the next decisive moves confirmations.
Post-open Outlook(15-03-2012)
Sentiment dampened due to Railway Minister resignation issue and weakness in all the Asian markets(except Nikkei) therefore negative zone trading after weak opening. Railway Minister resignation issue will be resolved and today down moves are only sentimental impact.
Expected that Indian markets will get support and Nifty will not sustain below 5438 and finally on going rally will remain continued.
Next decisive moves confirmation range before and after Budget is sustaining beyond 5417-5463,precautionally should be kept in mind because market may be highly volatile also.
Rally despite whatsoever Union Budget-2012
Nifty-Intra Day Chart(14-Mar-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5438-5463
2- Whole day trading between 5438-5485
As intraday selling therefore following guidance was given yesterday in Cautious view after intraday selling patterns today
sustaining beyond 5417-5438 will be firstly watched tomorrow for next moves confirmations.
Nifty got support exactly at 5437.80 after slipping from higher levels and whole day sustained above 5438. More than 3 hours good selling was seen between 5422-5458 on 29-02-2012 and Nifty consilidated within this range today between 5438-5463 therefore almost confirmation of this resistance range clearing.
Long and Short term trends were already up and Intermediate term trend(5340) turning up confirmation today therefore rally will remain continued after all trends turning up and high testing possibility of following 2 resistance ranges of Dec 2011 started rally:-
1- 5485-5533
2- 5590-5627
Big events(RBI Credit Policy and Union Budget-2012) in the next 2 sessions therefore high volatility can not be ruled out but until Nifty will not sustain below today lowest(5438) till then any down move will not be considered because good consolidation above it today. Rally is on after completion of correction and crossing resistances therefore complete selling patterns are must minimum on intraday and daily charts for rally termination. As no such signal today therefore:-
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| Just click on chart for its enlarged view |
1- Consolidation between 5438-5463
2- Whole day trading between 5438-5485
Conclusions
As intraday selling therefore following guidance was given yesterday in Cautious view after intraday selling patterns today
sustaining beyond 5417-5438 will be firstly watched tomorrow for next moves confirmations.
Nifty got support exactly at 5437.80 after slipping from higher levels and whole day sustained above 5438. More than 3 hours good selling was seen between 5422-5458 on 29-02-2012 and Nifty consilidated within this range today between 5438-5463 therefore almost confirmation of this resistance range clearing.
Long and Short term trends were already up and Intermediate term trend(5340) turning up confirmation today therefore rally will remain continued after all trends turning up and high testing possibility of following 2 resistance ranges of Dec 2011 started rally:-
1- 5485-5533
2- 5590-5627
Big events(RBI Credit Policy and Union Budget-2012) in the next 2 sessions therefore high volatility can not be ruled out but until Nifty will not sustain below today lowest(5438) till then any down move will not be considered because good consolidation above it today. Rally is on after completion of correction and crossing resistances therefore complete selling patterns are must minimum on intraday and daily charts for rally termination. As no such signal today therefore:-
only rally continuation conclusion despite whatsoever RBI Credit Policy and Union Budget-2012.
FII & DII trading activity in Capital Market Segment on 14-Mar-2012
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Indian Stock Markets Closing Reports(14-Mar-2012)
Main features of today trading are as follows
1- Green closing.
2- Black Candle.
3- Most Indices closed in Green but some closed in Red specially IT and Small Cap.
Ratios
Nifty Put Call Ratio: 1.13
Nifty P/E Ratio(14-Mar-2012): 19.31
Advances & Declines
BSE Advances : 1364
BSE Declines : 1562
NSE Advances : 651
NSE Declines : 798
Nifty Open Interest Changed Today
Nifty- 5300 CE(Mar)- -136500(-4.51%)
Nifty- 5300 PE(Mar)- +737300(+12.83%)
Nifty- 5400 CE(Mar)- -240000(-6.36%)
Nifty- 5400 PE(Mar)- +285950(+6.05%)
Nifty- 5500 CE(Mar)- -91300(-1.80%)
Nifty- 5500 PE(Mar)- +612400(+20.64%)
Nifty- 5600 CE(Mar)- +741000(+13.24%)
Nifty- 5600 PE(Mar)- +172000(+13.06%)
Nifty- 5700 CE(Mar)- +473700(+10.18%)
Nifty- 5700 PE(Mar)- +233700(+77.15%)
Closing
Nifty- closed at 5,463.90(+34.40 Points & +0.63%)
Sensex- closed at 17,919.30(+105.68 Points & +0.59%)
CNX Midcap - closed at 7,886.35(+54.80 Points & +0.70%)
BSE Smallcap- closed at 6,846.64(-19.29 Points & -0.28%)
1- Green closing.
2- Black Candle.
3- Most Indices closed in Green but some closed in Red specially IT and Small Cap.
Ratios
Nifty Put Call Ratio: 1.13
Nifty P/E Ratio(14-Mar-2012): 19.31
Advances & Declines
BSE Advances : 1364
BSE Declines : 1562
NSE Advances : 651
NSE Declines : 798
Nifty Open Interest Changed Today
Nifty- 5300 CE(Mar)- -136500(-4.51%)
Nifty- 5300 PE(Mar)- +737300(+12.83%)
Nifty- 5400 CE(Mar)- -240000(-6.36%)
Nifty- 5400 PE(Mar)- +285950(+6.05%)
Nifty- 5500 CE(Mar)- -91300(-1.80%)
Nifty- 5500 PE(Mar)- +612400(+20.64%)
Nifty- 5600 CE(Mar)- +741000(+13.24%)
Nifty- 5600 PE(Mar)- +172000(+13.06%)
Nifty- 5700 CE(Mar)- +473700(+10.18%)
Nifty- 5700 PE(Mar)- +233700(+77.15%)
Closing
Nifty- closed at 5,463.90(+34.40 Points & +0.63%)
Sensex- closed at 17,919.30(+105.68 Points & +0.59%)
CNX Midcap - closed at 7,886.35(+54.80 Points & +0.70%)
BSE Smallcap- closed at 6,846.64(-19.29 Points & -0.28%)
Nifty Spot-Levels & Trading Strategy for 15-03-2012
Nifty Spot-Levels
R3 5557
R2 5528
R1 5495
Avg 5466
S1 5433
S2 5404
S3 5371
Nifty Spot-Trading Strategy
H6 5525 Trgt 2
H5 5511 Trgt 1
H4 5497 Long breakout
H3 5480 Go Short
H2 5474
H1 5468
L1 5457
L2 5451
L3 5445 Long
L4 5428 Short Breakout
L5 5414 Trgt 1
L6 5400 Trgt 2
R3 5557
R2 5528
R1 5495
Avg 5466
S1 5433
S2 5404
S3 5371
Nifty Spot-Trading Strategy
H6 5525 Trgt 2
H5 5511 Trgt 1
H4 5497 Long breakout
H3 5480 Go Short
H2 5474
H1 5468
L1 5457
L2 5451
L3 5445 Long
L4 5428 Short Breakout
L5 5414 Trgt 1
L6 5400 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 15-03-2012
Nifty(Mar Fut)-Levels
R3 5611
R2 5576
R1 5541
Avg 5506
S1 5471
S2 5436
S3 5401
Nifty(Mar Fut)-Trading Strategy
H6 5576 Trgt 2
H5 5560 Trgt 1
H4 5544 Long breakout
H3 5525 Go Short
H2 5518
H1 5512
L1 5499
L2 5493
L3 5486 Long
L4 5467 Short Breakout
L5 5451 Trgt 1
L6 5435 Trgt 2
R3 5611
R2 5576
R1 5541
Avg 5506
S1 5471
S2 5436
S3 5401
Nifty(Mar Fut)-Trading Strategy
H6 5576 Trgt 2
H5 5560 Trgt 1
H4 5544 Long breakout
H3 5525 Go Short
H2 5518
H1 5512
L1 5499
L2 5493
L3 5486 Long
L4 5467 Short Breakout
L5 5451 Trgt 1
L6 5435 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 15-03-2012
Bank Nifty(Mar Fut)-Levels
R3 11234
R2 11124
R1 11052
Avg 10942
S1 10870
S2 10760
S3 10688
Bank Nifty(Mar Fut)-Trading Strategy
H6 11165 Trgt 2
H5 11123 Trgt 1
H4 11081 Long breakout
H3 11031 Go Short
H2 11014
H1 10997
L1 10964
L2 10947
L3 10930 Long
L4 10880 Short Breakout
L5 10838 Trgt 1
L6 10796 Trgt 2
R3 11234
R2 11124
R1 11052
Avg 10942
S1 10870
S2 10760
S3 10688
Bank Nifty(Mar Fut)-Trading Strategy
H6 11165 Trgt 2
H5 11123 Trgt 1
H4 11081 Long breakout
H3 11031 Go Short
H2 11014
H1 10997
L1 10964
L2 10947
L3 10930 Long
L4 10880 Short Breakout
L5 10838 Trgt 1
L6 10796 Trgt 2
Pre-Closing Outlook(14-03-2012)
sustaining beyond 5417-5438 should be firstly watched today for next moves confirmations.
We told above line in:-
1- yesterday in Cautious view after intraday selling patterns today
2- Today in Mid-session Outlook
Nifty retraced today after forming the lowest at:- 5437.80
Indian markets slipped immediately after opening and its technical reasons have already been explained in previous outlooks today. As news based market today therefore for precaution sustaining beyond today trading range will be watched for confirmation but Intraday patterns of today are showing consolidation formations and continuation of rally is expected in the coming sessions.
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