Bank Nifty(May Fut)-Levels & Trading Strategy for 04-05-2012

Bank Nifty(May Fut)-Levels

R3 10364
R2 10302
R1 10208
Avg  10146
S1 10052
S2 9990
S3 9896

Bank Nifty(May Fut)-Trading Strategy

H6 10271     Trgt 2
H5 10236     Trgt 1
H4 10200     Long breakout
H3 10157     Go Short
H2 10143
H1 10129
L1 10100
L2 10086
L3 10072     Long
L4 10029     Short Breakout
L5  9993    Trgt 1
L6  9958    Trgt 2

Post-Closing Outlook(03-05-2012)

As Mid Session up moves were on the back of European markets Strong opening therefore following precaution was updated in "Mid-session Outlook-3(03-05-2012)":-

"higher levels selling also seen today therefore sustaining above 5215 will be up moves confirmations and will be firstly watched because last half hour up moves are on the back of strong cues from European markets"

When market was trading at the top of the day after sharp surge then We projected our doubts in above lines and clearly told the requirement of confirmations through sustaining above 5215.

Nifty could not sustain above 5215 and tumbled as well as formed new intraday lows also after 02:20 Pm today

As fresh selling seen at higher levels today also therefore more down moves are expected in the coming sessions.

Mid-session Outlook-3(03-05-2012)

Strong opening of European markets and trading .70% to 1.10% up. Indian markets also moved up after strong opening of European markets and Nifty is trading between 5191-5215 despite Futures surged sharp.

As intraday supports at lower levels and higher levels selling also seen today therefore sustaining above 5215 will be up moves confirmations and will be firstly watched because last half hour up moves are on the back of strong cues from European markets.

Mid-session Outlook-2(03-05-2012)

Sideways trading between 5191-5215 with higher levels intraday selling patterns but lower levels supports are also being seen. Sustaining beyond today trading range will be next move first indication.

Mid-session Outlook(03-05-2012)

Sideways trading between 5191-5215 with higher levels intraday selling patterns today.

Trading within Trend decider Crucial support zone

Nifty-EOD Chart (02-May-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts 

1- 49 Sessions correction after rally completion at 5629.
2- Correction in Falling Trendline.
3- Crucial support zone between 5136-5236

Nifty-Intra Day Chart (02-May-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in intraday charts

1- Selling between 5267-5279
2- Mixed Patterns between 5242-5255
3- Whole day trading between  5226-5279

Conclusions (After Putting All Indicators Together)

Correction is continued below Falling Trend line and following multiple resistances developed during this correction:-

1- Resistance between 5267-5279
2- Resistance between 5275-5305
3- Resistance between 5318-5337
4- Resistance between 5357-5377
5- Resistance between 5418-5487
6- Resistance between 5588-5625

Support zone has also developed between 5136-5236 and crucial support ranges within this zone are as follows:-.

1- Support between 5222-5236 
2- Support between 5165-5192
3- Support between 5136-5155

Market slipped after higher levels selling and closed at the lowest of the day yesterday. Only Pull back rally was expected and following line was told in "Pull Back Rally on Cards" yesterday:-

expected that fresh Pull Back Rally will begin now to test next resistances near 5300

Nifty traded within next resistance range(5275-5305) and slipped after fresh selling between 5267-5279. As previous resistance strengthened after fresh selling within and just below it yesterday therefore whole day down moves and closing at lowest of the day was seen yesterday.

As soon as selling started to develop then it was also clearly updated in both Mid-session Outlooks yesterday and following line was told:

next support(5222) should be watched and slipping below 5222 will mean decisive down moves.

Down moves will be seen today and  testing of above supports can not be ruled out after yesterday selling and complete consolidation is also required for any decisive up move but until Nifty will not sustain below 5136 till then deeper correction will not be considered.

Coming sessions trading is expected between crucial support zone 5136-5236 and sustaining it beyond should be firstly watched for next trend confirmations. consolidation/distribution within this range will decide the life and depth of on going correction. 

FII Trading Data in Derivatives Segment on 02-May-2012

FII & DII trading activity in Capital Market Segment on 02-May-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 02-May-2012 2241.7 2004.23 237.47

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 02-May-2012 939.25 868.13 71.12

Indian Stock Markets Closing Reports(02-May-2012)

Main features of today trading are as follows

1- Black Doji Candle formation.
2- Closing near the day's lows in Red after loosing all intraday gains.
3- Most of the Indices slipped from higher levels.

Ratios

Nifty Put Call Ratio: 0.92
Nifty P/E Ratio(02-May-2012):17.99

Advances & Declines

BSE Advances : 1340
BSE Declines : 1475
NSE Advances :  645
NSE Declines :  773

Nifty Open Interest Changed Today

Nifty- 5100 CE(May)- +24800(+2.76%)
Nifty- 5100 PE(May)- +177500(+3.82%)

Nifty- 5200 CE(May)- -72900(-3.07%)
Nifty- 5200 PE(May)- +923700(+23.49%)

Nifty- 5300 CE(May)- +802100(+24.24%)
Nifty- 5300 PE(May)- +297700(+14.25%)

Nifty- 5400 CE(May)- +628300(+14.80%)
Nifty- 5400 PE(May)- +78950(+7.10%)

Closing 

Nifty- closed at 5,239.15(-9.00 Points & -0.17%)
Sensex- closed at 17,301.91(-16.90 Points & -0.10% )
CNX Midcap - closed at 7,443.75(-27.30 Points & -0.37%)
BSE Smallcap- closed at 6,777.94(+13.32 Points & +0.20%)

Nifty Spot-Levels & Trading Strategy for 03-05-2012

Nifty Spot-Levels

R3 5323
R2 5301
R1 5270
Avg 5248
S1 5217
S2 5195
S3 5164

Nifty Spot-Trading Strategy

H6 5292     Trgt 2
H5 5280     Trgt 1
H4 5268     Long breakout
H3 5253     Go Short
H2 5248
H1 5243
L1 5234
L2 5229
L3 5224     Long
L4 5209     Short Breakout
L5 5197     Trgt 1
L6 5185     Trgt 2

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

Nifty(May Fut)-Levels

R3 5351
R2 5326
R1 5286
Avg 5261
S1 5221
S2 5196
S3 5156

Nifty(May Fut)-Trading Strategy

H6 5311     Trgt 2
H5 5296     Trgt 1
H4 5281     Long breakout
H3 5263     Go Short
H2 5257
H1 5251
L1 5240
L2 5234
L3 5228     Long
L4 5210     Short Breakout
L5 5195     Trgt 1
L6 5180     Trgt 2

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

Bank Nifty(May Fut)-Levels

R3 10482
R2 10428
R1 10349
Avg 10295
S1 10216
S2 10162
S3 10083

Bank Nifty(May Fut)-Trading Strategy

H6 10403     Trgt 2
H5 10373     Trgt 1
H4 10343     Long breakout
H3 10306     Go Short
H2 10294
H1 10282
L1 10257
L2 10245
L3 10233     Long
L4 10196     Short Breakout
L5 10166     Trgt 1
L6 10136     Trgt 2

Pre-Closing Outlook(02-05-2012)

Although Global cues were strong but only Pull Back Rally was projected today and it was seen also and higher levels selling was also updated in both previous outlooks. Indian markets are in Red after gap up opening today, next support is at 5222 and sustaining below it will mean sharp fall.

Mid-session Outlook-2(02-05-2012)

Selling at higher levels between 5267-5279 and until Nifty will not sustain above 5305(Next resistance top) till then next up move will not be considered.

As intraday patterns are mixed because intraday support also seen at lower levels today therefore next support(5222) should be watched and slipping below 5222 will mean decisive down moves.

Mid-session Outlook(02-05-2012)

Most Asian markets are strong and some are 1%/2% up today but Indian markets are under performing and trading about .33% up.

Next resistance is between 5275-5305 and intraday trading seen just below it within 5264-5279 today. As minor intraday selling patterns formations between 5272-5279 therefore slipping from higher levels but follow up selling is required for breaking down of today lows(5264).

Range bound quiet market today,let complete intraday patterns develop then next moves will be projected after confirmations.

Pull Back Rally on Cards

Nifty-Intra Day Chart (30-Apr-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 5222-5262
2- Support between 5236-5245
3- Selling between 5253-5262
4- Whole day trading between5222-5262

Conclusions from intra day chart analysis 

Nifty traded more than 5 hours above 5236(resistance) with good support at lower levels and minor selling formations at higher levels. As good support seen above 5236 therefore expected that fresh Pull Back Rally will begin now to test next resistances near 5300.

FII Trading Data in Derivatives Segment on 30-Apr-2012

FII & DII trading activity in Capital Market Segment on 30-Apr-2012

FII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 30-Apr-2012 2100.62 1621.09 479.53

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 30-Apr-2012 668.05 914.86 -246.81

Indian Stock Markets Closing Reports(30-Apr-2012)

Main features of today trading are as follows

1- Green closing.
2- White Candle.
3- Positive closing after volatile market.

Ratios

Nifty Put Call Ratio: 1.00
Nifty P/E Ratio(30-Apr-2012): 18.12

Advances & Declines

BSE Advances : 1494
BSE Declines : 1271
NSE Advances :  830
NSE Declines :  609

Nifty Open Interest Changed Today

Nifty- 5100 CE(May)- +53600(+6.29%)
Nifty- 5100 PE(May)- +305600(+7.00%)

Nifty- 5200 CE(May)- -92700(-3.68%)
Nifty- 5200 PE(May)- +638150(+19.15%)

Nifty- 5300 CE(May)- +219850(+6.98%)
Nifty- 5300 PE(May)- +316000(+17.54%)

Nifty- 5400 CE(May)- +497350(+13.22%)
Nifty- 5400 PE(May)- -16700(-1.46%)

Closing 

Nifty- closed at 5,248.15(+39.15 Points & +0.75%)
Sensex- closed at 17,318.81(+131.47 Points & +0.76% )
CNX Midcap - closed at 7,471.05(+55.15 Points & +0.74%)
BSE Smallcap- closed at 6,764.62(+38.45 Points & +0.57%)

Nifty Spot-Levels & Trading Strategy for 02-05-2012

Nifty Spot-Levels

R3 5334
R2 5298
R1 5273
Avg 5237
S1 5212
S2 5176
S3 5151

Nifty Spot-Trading Strategy

H6 5309     Trgt 2
H5 5295     Trgt 1
H4 5281     Long breakout
H3 5264     Go Short
H2 5259
H1 5253
L1 5242
L2 5236
L3 5231     Long
L4 5214     Short Breakout
L5 5200     Trgt 1
L6 5186     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 02-05-2012

Nifty(May Fut)-Levels

R3 5356
R2 5322
R1 5294
Avg 5260
S1 5232
S2 5198
S3 5170

Nifty(May Fut)-Trading Strategy

H6 5329     Trgt 2
H5 5315     Trgt 1
H4 5301     Long breakout
H3 5284     Go Short
H2 5278
H1 5272
L1 5261
L2 5255
L3 5249     Long
L4 5232     Short Breakout
L5 5218     Trgt 1
L6 5204     Trgt 2