Bank Nifty Spot-Weekly Levels & Trading Strategy(May 07 to May 11,2012)

Bank Nifty Spot-Weekly Levels

R3 10827
R2 10604
R1 10203
Avg 9980
S1 9579
S2 9356
S3 8955

Bank Nifty Spot-Weekly Trading Strategy 

H6 10428     Trgt 2
H5 10287     Trgt 1
H4 10145     Long breakout
H3  9973     Go Short
H2  9916
H1  9859
L1  9744
L2  9687
L3  9630   Long
L4  9458    Short Breakout
L5  9316    Trgt 1
L6  9175    Trgt 2

Pre-Closing Outlook(04-05-2012)

As Whole day down moves with intraday consolidation patterns and panic bottom formations also today  therefore expected that Nifty will get support between 5050-5100 and now rally will start in next week after completion of all corrections.

Mid-session Outlook(04-05-2012)

Nifty slipped below 5136 today but its possibility was updated in following topic on 15-04-2012

"Lower Tops and Lower Bottoms Formation In On Going Correction"

Just click above topic link and understand the technical reasons of slipping below 5136. 

Although market is almost 2% down today and also trading below 200 Day SMA also but expected that Nifty will get support between 5050-5100 and now rally will start after completion of all corrections.

As intraday patterns are showing consolidation pstterns also therefore support getting ia expected between 5050-5100. 

Post-open Outlook(04-05-2012)

Following line and levels were updated yesterday in "Correction continuation to test next Supports"

More slipping to test following supports will be seen in the coming sessions:-

1- Support between 5165-5192
2- Support between 5136-5155

Slipping after opening and above mentioned both supports have been tested today. Although down moves immediately after opening but intraday patterns have started to produce intraday consolidation patterns therefore again support getting within or near about 2nd support range(5136-5155) will be considered now.

It should be kept in mind that correction is still continued and Nifty may slip below 5136 also but expected that finaally Nifty will get support near about 5136 because intraday consolidation patterns started to develop today.

Let consolidation process and bottom formation complete then up moves will be expected and updated also after confirmations.

Correction continuation to test next Supports

Nifty-Micro Analysis of Intra Day Chart For 04-05-2012

Nifty-Intra Day Chart (03-May-2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 5205-5215
2- Down moves after selling.
3- Whole day trading between 5181-5215.

Conclusions from intra day chart analysis 

As soon as selling developed then it was updated in all the 3 Mid-session Outlooks. When Nifty was trading at the top of the day then also doubt with reason was raised on up moves in Mid-session Outlook-3 and emphasised the requirement of confirmations in following lines:-

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.

Correction is on and down moves today after good selling at higher levels. More slipping to test following supports will be seen in the coming sessions:-

1- Support between 5165-5192
2- Support between 5136-5155

FII Trading Data in Derivatives Segment on 03-May-2012

FII & DII trading activity in Capital Market Segment on 03-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 03-May-2012 2361.49 2287.75 73.74

DII trading activity on NSE and BSE in Capital Julket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 03-May-2012 791.09 1138.09 -347

Indian Stock Markets Closing Reports(03-May-2012)

Main features of today trading are as follows

1- Black Candle.
2- Red closing.
3- Closing near the lowest of the day after higher levels selling.

Ratios

Nifty Put Call Ratio: 0.98
Nifty P/E Ratio(03-May-2012): 17.81

Advances & Declines

BSE Advances : 1014
BSE Declines : 1779
NSE Advances :  408
NSE Declines : 1031

Nifty Open Interest Changed Today

Nifty- 5000 CE(May)- +46900(+5.52%)
Nifty- 5000 PE(May)- +691350(+15.60%)

Nifty- 5100 CE(May)- +106400(+11.53%)
Nifty- 5100 PE(May)- +767350(+16.01%)

Nifty- 5200 CE(May)- +657150(+28.75%)
Nifty- 5200 PE(May)- -387950(-8.39%)

Nifty- 5300 CE(May)- +655300(+16.76%)
Nifty- 5300 PE(May)- -176200(-7.57%)

Closing 

Nifty- closed at 5,188.40(-50.75 Points & -0.97%)
Sensex- closed at 17,151.19(-150.72 Points & -0.87% )
CNX Midcap - closed at 7,358.20(-85.55 Points & -1.15%)
BSE Smallcap- closed at 6,709.96(-67.98 Points & -1.00%)

Nifty Spot-Levels & Trading Strategy for 04-05-2012

Nifty Spot-Levels

R3 5247
R2 5232
R1 5210
Avg  5195
S1 5173
S2 5158
S3 5136

Nifty Spot-Trading Strategy

H6 5225     Trgt 2
H5 5216     Trgt 1
H4 5208     Long breakout
H3 5198     Go Short
H2 5194
H1 5191
L1 5184
L2 5181
L3 5177     Long
L4 5167     Short Breakout
L5 5159     Trgt 1
L6 5150     Trgt 2

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

Nifty(May Fut)-Levels

R3 5269
R2 5251
R1 5225
Avg  5207
S1 5181
S2 5163
S3 5137

Nifty(May Fut)-Trading Strategy

H6 5243     Trgt 2
H5 5233     Trgt 1
H4 5223     Long breakout
H3 5211     Go Short
H2 5207
H1 5203
L1 5194
L2 5190
L3 5186     Long
L4 5174     Short Breakout
L5 5164     Trgt 1
L6 5154     Trgt 2

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