Bank Nifty(Mar Fut)-Levels & Trading Strategy for 23-03-2012

Bank Nifty(Mar Fut)-Levels

R3 10991
R2 10818
R1 10506
Avg 10333
S1 10021
S2 9848
S3 9536

Bank Nifty(Mar Fut)-Trading Strategy

H6 10681     Trgt 2
H5 10571     Trgt 1
H4 10461     Long breakout
H3 10328     Go Short
H2 10283
H1 10239
L1 10150
L2 10106
L3 10061     Long
L4  9928    Short Breakout
L5  9818    Trgt 1
L6  9708    Trgt 2

Pre-Closing Outlook(22-03-2012)

Following line was told in Mid-session Outlook-2 today

retesting of this week lows(5240) is possible in the coming sessions.

Nifty is trading below 5240 now and after good intraday selling today and retesting of previous strong support(5172-5200) is possible in the coming sessions.

Mid-session Outlook-2(22-03-2012)

Selling patterns between 5370-5383 were told in Mid-session Outlook today and Nifty could not above mentioned selling range as well as slipped sharply below today intraday lows.

As good higher levels selling today therefore more down moves and retesting of this week lows(5240) is possible in the coming sessions.

Mid-session Outlook(22-03-2012)

Sharp 2 sessions fall after Budget and yesterday good recovery after lower levels good support above previous strong support of 5172-5200. Immediate resistances before Budget and immediate supports after Budget are as follows:-

1- Resistances between 5405-5444
2- supports between 5240-5300

Both sides moives are capped between 5240-5444 and Nifty will trade as well as between this range to prepare for next moves.

Nifty is trading between 5338-5383 since opening today and higher levels minor intraday selling patterns seen between 5370-5383. Sustaining beyond mentioned today trading range will be next moves first strong indication therefore should be firstly watched.

Indian Stock Markets Closing Reports(21-Mar-2012)

Main features of today trading are as follows

1- Long White Candle
2- All the Indices closed in Green.
3- Whole day up moves with closing near Day's highest levels.

Ratios

Nifty Put Call Ratio: 1.06
Nifty P/E Ratio(21-Mar-2012):18.96

Advances & Declines

BSE Advances : 1766
BSE Declines : 1157
NSE Advances : 1023
NSE Declines :  401

Nifty Open Interest Changed Today

Nifty- 5300 CE(Mar)- -623700(-13.80%)
Nifty- 5300 PE(Mar)- +1096600(+19.17%)

Nifty- 5400 CE(Mar)- -406450(-6.85%)
Nifty- 5400 PE(Mar)- +1506400(+41.30%)

Nifty- 5500 CE(Mar)- -253300(-3.75%)
Nifty- 5500 PE(Mar)- +145850(+6.56%)

Closing 

Nifty- closed at 5,364.95(+90.10 Points & +1.71%)
Sensex- closed at 17,601.71(+285.53 Points & +1.65% )
CNX Midcap - closed at 7,794.75(+157.30 Points & +2.06%)
BSE Smallcap- closed at 6,712.20(+81.77 Points & +1.23%)

FII Trading Data in Derivatives Segment on 21-Mar-2012

FII & DII trading activity in Capital Market Segment on 21-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 21-Mar-2012 3488.6 2865.96 622.64

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 21-Mar-2012 956.01 1249.71 -293.7

Nifty Spot-Levels & Trading Strategy for 22-03-2012

Nifty Spot-Levels

R3 5521
R2 5446
R1 5405
Avg 5330
S1 5289
S2 5214
S3 5173

Nifty Spot-Trading Strategy

H6 5482     Trgt 2
H5 5455     Trgt 1
H4 5427     Long breakout
H3 5395     Go Short
H2 5385
H1 5374
L1 5353
L2 5342
L3 5332     Long
L4 5300     Short Breakout
L5 5272     Trgt 1
L6 5245     Trgt 2

Nifty(Mar Fut)-Levels & Trading Strategy for 22-03-2012

Nifty(Mar Fut)-Levels

R3 5571
R2 5488
R1 5441
Avg 5358
S1 5311
S2 5228
S3 5181

Nifty(Mar Fut)-Trading Strategy

H6 5526     Trgt 2
H5 5496     Trgt 1
H4 5465     Long breakout
H3 5429     Go Short
H2 5417
H1 5405
L1 5382
L2 5370
L3 5358     Long
L4 5322     Short Breakout
L5 5291     Trgt 1
L6 5261     Trgt 2

Bank Nifty(Mar Fut)-Levels & Trading Strategy for 22-03-2012

Bank Nifty(Mar Fut)-Levels

R3 11092
R2 10861
R1 10728
Avg 10497
S1 10364
S2 10133
S3 10000

Bank Nifty(Mar Fut)-Trading Strategy

H6 10971     Trgt 2
H5 10883     Trgt 1
H4 10796     Long breakout
H3 10696     Go Short
H2 10662
H1 10629
L1 10562
L2 10529
L3 10495     Long
L4 10395     Short Breakout
L5 10308     Trgt 1
L6 10220     Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(Mar 19 to Mar 23,2012)

Nifty Spot-Weekly Levels

R3 5637
R2 5568
R1 5443
Avg 5374
S1 5249
S2 5180
S3 5055

Nifty Spot-Weekly Trading Strategy 

H6 5512     Trgt 2
H5 5468     Trgt 1
H4 5424     Long breakout
H3 5371     Go Short
H2 5353
H1 5335
L1 5300
L2 5282
L3 5264     Long
L4 5211     Short Breakout
L5 5167     Trgt 1
L6 5123     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(Mar 19 to Mar 23,2012)

Bank Nifty Spot-Weekly Levels

R3 11316
R2 11114
R1 10752
Avg 10550
S1 10188
S2 9986
S3 9624

Bank Nifty Spot-Weekly Trading Strategy 

H6 10957     Trgt 2
H5 10829     Trgt 1
H4 10701     Long breakout
H3 10546     Go Short
H2 10494
H1 10442
L1 10339
L2 10287
L3 10235    Long
L4 10080     Short Breakout
L5  9952    Trgt 1
L6  9824    Trgt 2

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Non-Event Budget triggered Sharp Correction

We were expecting that market will move up after Budget and Nifty moved up also 40 points after the beginning Budget speech but Budget completely failed to show induatrial growth road map and Reform Agenda thrown into cold storage and therefore selling developed during Budget hours. As soon selling developed then We immediately updated about selling and cautioned at 12:29 PM in Mid-session Outlook when Budget Speech was going on and Nifty was trading at 5400.45:-

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. 

Nifty Intraday Chart from "nseindia.com"(at 12:29PM on 16-Mar-2012):-

It is clear from the above chart that when Nifty was trading at 5400.45 then we clearly told for selling and cautioned also at 12:29PM on 16-Mar-2012



Nifty-Intra Day Chart(16-Mar-2012):-

Just click on chart for its enlarged view 

Technical Patterns and Formations in today intraday charts

1- Selling between 5395-5444
2- Selling between 5405-5430
3- Sharp fall after selling.

Conclusions from intra day chart analysis 

Highly volatile market on news flooding Budget day and technical positions reverses also in such markets but intraday charts showed clear selling formations therefore we told for selling in all the 3 Outlooks.

Nifty slipped and closed below Intermediate term trend decider 5340 and sustaining below it will Intermediate term trend turning down as well as more down moves. As higher levels good selling therefore more down moves are possible and finally sustaining below 5340 will mean testing possibility of next support range(5172-5200) 

Intraday selling updated in all Outlooks Today

Rally was expected after Budget today but as soon as selling developed then it was updated in all the 3 Mid-Sessions Outlook. We cautioned at 12:29 PM when Nifty was above 5400 in our first Outlook of today  and told following lines:-

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.

Nifty Intraday Chart from "nseindia.com"(at 12:29PM on 16-Mar-2012):-

It is clear from the above chart that when Nifty was trading at 5400.45 then we clearly told for selling and cautioned also at 12:29PM on 16-Mar-2012

Pre-Closing Outlook(16-03-2012)

Firstly selling seen between 5426-5444 today and after that Nifty traded almost 1 hour just below it between 5402-5413 as well as slipped below 5402 also therefore it is weakness indication.

As news based volatile market therefore confirmation is required through sustaining beyond yesterday range(5362-5447)

Mid-session Outlook-2 (16-03-2012)

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.

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.

Continuation of Rally after Union Budget-2012

Technical Analysis and Research For 16-03-2012

Nifty-EOD Chart(15-Mar-2012):-

Just click on chart for its enlarged view 

Technical Patterns and Formations in EOD charts

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):-

Just click on chart for its enlarged view 

Technical Patterns and Formations in today intraday charts

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 Trading Data in Derivatives Segment on 15-Mar-2012