Nifty slipped below 5639 but just watch sustaining below it because only that will be deeper correction confirmation.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(17-10-2012)
Narrow range market today betwen 5641-5674 with intraday selling patterns higher levels. As intraday selling within previous support ranges therefore expected that down moves will be seen below 5639.
Post-open Outlook(17-10-2012)
Good opening on the back of positive Global markets but started to slip immediately after opening. Today intraday charts are showing consolidation indications but decisive up moves will be seen after sustaining above 5639 and 5674.
Technical Analysis and Market Outlook(17-10-2012)
Nifty-Intra Day Chart (Oct 08 to Oct 16,2012):-
Technical Patterns and Formations in last 7 Sessions intraday charts
1- Selling between 5700-5720
2- Selling between 5720-5733
3- Consolidation between 5639-5664
4- 7 Sessions trading between 5639-5733
600 Nifty points strong rally in 21 sessions from 05-09-2012 to 05-10-2012 and after that its correction in last 7 sessions with intraday Consolidation at lower levels and selling at higher levels with violent volatility also within 5639-5733.
Rally above 5733 after correction completion or deeper correction below 5639 will form next decisive trend after break out of last 7 Sessions trading range. As equally good supports at lower levels before today sharp fall therefore deeper correction confirmation is firstly required tomorrow through sustaining below 5639 but sustaining above 5639 will be confirmation of sideways market also.
Following lines were told on 13.10.2012 in Technical Analysis,Research & Weekly Outlook
(Oct 15 to Oct 19,2012) and being repeated for final conclusions:-
final break out of previous 3 weeks actual trading range(5639-5756) should be firstly watched because that will give confirmation to following decisive moves:-
1- Above 5756 will mean rally continuation after completion of sideways correction.
2- Below 5639 will mean deeper correction after 21 sessions 600 Nifty points strong rally.
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| Just click on chart for its enlarged view |
1- Selling between 5700-5720
2- Selling between 5720-5733
3- Consolidation between 5639-5664
4- 7 Sessions trading between 5639-5733
Conclusions from 7 Sessions intra day chart analysis
600 Nifty points strong rally in 21 sessions from 05-09-2012 to 05-10-2012 and after that its correction in last 7 sessions with intraday Consolidation at lower levels and selling at higher levels with violent volatility also within 5639-5733.
Rally above 5733 after correction completion or deeper correction below 5639 will form next decisive trend after break out of last 7 Sessions trading range. As equally good supports at lower levels before today sharp fall therefore deeper correction confirmation is firstly required tomorrow through sustaining below 5639 but sustaining above 5639 will be confirmation of sideways market also.
Following lines were told on 13.10.2012 in Technical Analysis,Research & Weekly Outlook
(Oct 15 to Oct 19,2012) and being repeated for final conclusions:-
final break out of previous 3 weeks actual trading range(5639-5756) should be firstly watched because that will give confirmation to following decisive moves:-
1- Above 5756 will mean rally continuation after completion of sideways correction.
2- Below 5639 will mean deeper correction after 21 sessions 600 Nifty points strong rally.
Indian Stock Markets Closing Reports(16-Oct-2012)
1- Benchmark Indices closed in Red.
2- All the indices closed in Red except CNX MEDIA.
3- Long Black Candle formation.
Ratios
Nifty Put Call Ratio: 0.86
Nifty P/E Ratio(16-Oct-2012): 17.82
Advances & Declines
BSE Advances : 1190
BSE Declines : 1703
NSE Advances : 504
NSE Declines : 962
Nifty Open Interest Changed Today
Nifty- 5600 CE(Oct)- 16,900(1.54%)
Nifty- 5600 PE(Oct)- 463,750(7.67%)
Nifty- 5600 CE(Oct)- 152,450(6.82%)
Nifty- 5600 PE(Oct)- 389,350(5.06%)
Nifty- 5700 CE(Oct)- 1,801,600(31.19%)
Nifty- 5700 PE(Oct)- -495,650(-8.69%)
Nifty- 5700 CE(Oct)- 1,154,000(12.58%)
Nifty- 5700 PE(Oct)- -484,500(-25.25%)
Closing
Sensex- closed at 18,577.70(-135.85 Points & -0.73%)
Nifty- closed at 5,648.00(-39.25 Points & -0.69%)
CNX Midcap - closed at 7,859.30(77.60 Points & -0.98%)
CNX Smallcap- closed at 3,482.40(-9.10 Points & -0.26%)
Nifty Spot-Levels & Trading Strategy for 17-10-2012
R3 5775
R2 5744
R1 5696
Avg 5665
S1 5617
S2 5586
S3 5538
Nifty Spot-Trading Strategy
H6 5727 Trgt 2
H5 5709 Trgt 1
H4 5691 Long breakout
H3 5669 Go Short
H2 5662
H1 5655
L1 5640
L2 5633
L3 5626 Long
L4 5604 Short Breakout
L5 5586 Trgt 1
L6 5568 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2012
R3 5804
R2 5768
R1 5709
Avg 5673
S1 5614
S2 5578
S3 5519
Nifty(Oct Fut)-Trading Strategy
H6 5746 Trgt 2
H5 5724 Trgt 1
H4 5703 Long breakout
H3 5677 Go Short
H2 5668
H1 5659
L1 5642
L2 5633
L3 5624 Long
L4 5598 Short Breakout
L5 5577 Trgt 1
L6 5555 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2012
R3 11701
R2 11624
R1 11489
Avg 11412
S1 11277
S2 11200
S3 11065
Bank Nifty(Oct Fut)-Trading Strategy
H6 11567 Trgt 2
H5 11519 Trgt 1
H4 11471 Long breakout
H3 11413 Go Short
H2 11393
H1 11374
L1 11335
L2 11316
L3 11296 Long
L4 11238 Short Breakout
L5 11190 Trgt 1
L6 11142 Trgt 2
Pre-Closing Outlook(16-10-2012)
As soon as intraday selling developed then it was updated in today Mid-session Outlook and clearly following line was told:-
"Intraday patterns are showing selling formations between 5702-5712 today"
"Intraday patterns are showing selling formations between 5702-5712 today"
Sharp fall after higher levels selling and testing of 22 sessions lowest(5639),forceful break down or sustaining it below will mean beginning of deeper correction in the coming sessions.
Mid-session Outlook-2 (16-10-2012)
Although European markets are trading strong but Asian markets slipped. Indian markets are trading in Red after selling at higher levels today. Previous resistances were between 5700-5733 and today intraday selling seen within this range between 5702-5712 therefore previous resistance has become stronger.
Sideways correction(5639-5756) is continued with both lower levels supports and higher levels selling within following ranges:-
1- strong resistances between 5700-5733
2- Supports between 5653-5664
3- Supports between 5639-5646
Following lines were told on 13.10.2012 in Technical Analysis,Research & Weekly Outlook
(Oct 15 to Oct 19,2012) and being repeated for final conclusions:-
final break out of previous 3 weeks actual trading range(5639-5756) should be firstly watched because that will give confirmation to following decisive moves:-
1- Above 5756 will mean rally continuation after completion of sideways correction.
2- Below 5639 will mean deeper correction after 21 sessions 600 Nifty points strong rally.
Sideways correction(5639-5756) is continued with both lower levels supports and higher levels selling within following ranges:-
1- strong resistances between 5700-5733
2- Supports between 5653-5664
3- Supports between 5639-5646
Following lines were told on 13.10.2012 in Technical Analysis,Research & Weekly Outlook
(Oct 15 to Oct 19,2012) and being repeated for final conclusions:-
final break out of previous 3 weeks actual trading range(5639-5756) should be firstly watched because that will give confirmation to following decisive moves:-
1- Above 5756 will mean rally continuation after completion of sideways correction.
2- Below 5639 will mean deeper correction after 21 sessions 600 Nifty points strong rally.
Mid-session Outlook(16-10-2012)
Intraday patterns are showing selling formations between 5702-5712 today
Post-open Outlook(16-10-2012)
Today up moves possibilities were projected yesterday and it was seen today, Following lines were also told yesterday in Emergence of Rally continuation hopes after Sideways Correction completion:-
"strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion"
Nifty opened gap up within above mentioned strong resistances(5700-5733) but slipped below it because fresh consolidation is required today to cross and sustain above. Although last one hour of intraday down moves but good consolidation yesterday therefore until Nifty will not slip below 5653 till then view will not be bearish,follow up consolidation today will mean rally above 5756 after on going correction completion.
"strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion"
Nifty opened gap up within above mentioned strong resistances(5700-5733) but slipped below it because fresh consolidation is required today to cross and sustain above. Although last one hour of intraday down moves but good consolidation yesterday therefore until Nifty will not slip below 5653 till then view will not be bearish,follow up consolidation today will mean rally above 5756 after on going correction completion.
Emergence of Rally continuation hopes after Sideways Correction completion
Nifty-Intra Day Chart (15-Oct-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5653-5664
2- Consolidation patterns between 5673-5684
3- Whole day acual trading between 5653-5692
Although intraday up moves started after 12:50PM but when Indian markets were trading near the lows of the day then intraday supports getting possibility was updated in Mid-session Outlook today at 11:53AM and following line was told:-
"lower levels supports can not be ruled out today'
Intraday consolidation at lower levels after weak opening and again follow up intraday consolidation patterns were also seen at higher levels today therefore expected that today started up moves will remain continued tomorrow also but strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion.
As rally continuation hopes emerged after today good intraday consolidations therefore following lines were told in Pre-Closing Outlook today and being repeated for final conclusions:-
"trading between 5674-5691 for the last 2 hours with intraday consolidation patterns therefore expected that today started up moves will remain continued tomorrow but decisive rally after on going correction completion will get confirmation after sustaining above 5733/5756"
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| Just click on chart for its enlarged view |
1- Consolidation between 5653-5664
2- Consolidation patterns between 5673-5684
3- Whole day acual trading between 5653-5692
Conclusions from intra day chart analysis
Although intraday up moves started after 12:50PM but when Indian markets were trading near the lows of the day then intraday supports getting possibility was updated in Mid-session Outlook today at 11:53AM and following line was told:-
"lower levels supports can not be ruled out today'
Intraday consolidation at lower levels after weak opening and again follow up intraday consolidation patterns were also seen at higher levels today therefore expected that today started up moves will remain continued tomorrow also but strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion.
As rally continuation hopes emerged after today good intraday consolidations therefore following lines were told in Pre-Closing Outlook today and being repeated for final conclusions:-
"trading between 5674-5691 for the last 2 hours with intraday consolidation patterns therefore expected that today started up moves will remain continued tomorrow but decisive rally after on going correction completion will get confirmation after sustaining above 5733/5756"
FII & DII trading activity in Capital Market Segment on 15-Oct-2012
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Indian Stock Markets Closing Reports(15-Oct-2012)
1- Benchmark Indices closed in Green with minor gains.
2- Good recovery despite increasing Inflation data.
3- Bullish Hammer type White Candle.
Ratios
Nifty Put Call Ratio: 0.99
Nifty P/E Ratio(15-Oct-2012): 17.93
Advances & Declines
BSE Advances : 1465
BSE Declines : 1392
NSE Advances : 728
NSE Declines : 714
Nifty Open Interest Changed Today
Nifty- 5600 CE(Oct)- -26,250(-1.16%)
Nifty- 5600 PE(Oct)- 719,350(10.32%)
Nifty- 5700 CE(Oct)- -60,750(-1.04%)
Nifty- 5700 PE(Oct)- 202,950(3.69%)
Nifty- 5800 CE(Oct)- 107,450(1.18%)
Nifty- 5800 PE(Oct)- -108,750(-5.36%)
Closing
Sensex- closed at 18,713.55(38.37 Points & 0.21%)
Nifty- closed at 5,687.25(11.20 Points & 0.20%)
CNX Midcap - closed at 7,936.90(15.40 Points & 0.19%)
CNX Smallcap- closed at 3,491.50(7.95 Points & 0.23%)
Nifty Spot-Levels & Trading Strategy for 16-10-2012
R3 5745
R2 5719
R1 5703
Avg 5677
S1 5661
S2 5635
S3 5619
Nifty Spot-Trading Strategy
H6 5729 Trgt 2
H5 5719 Trgt 1
H4 5710 Long breakout
H3 5698 Go Short
H2 5694
H1 5690
L1 5683
L2 5679
L3 5675 Long
L4 5663 Short Breakout
L5 5654 Trgt 1
L6 5644 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 16-10-2012
R3 11728
R2 11610
R1 11544
Avg 11426
S1 11360
S2 11242
S3 11176
Bank Nifty(Oct Fut)-Trading Strategy
H6 11664 Trgt 2
H5 11621 Trgt 1
H4 11579 Long breakout
H3 11528 Go Short
H2 11511
H1 11494
L1 11461
L2 11444
L3 11427 Long
L4 11376 Short Breakout
L5 11334 Trgt 1
L6 11291 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 16-10-2012
Nifty(Oct Fut)-Levels
R3 5774
R2 5744
R1 5723
Avg 5693
S1 5672
S2 5642
S3 5621
Nifty(Oct Fut)-Trading Strategy
H6 5753 Trgt 2
H5 5741 Trgt 1
H4 5730 Long breakout
H3 5716 Go Short
H2 5711
H1 5706
L1 5697
L2 5692
L3 5687 Long
L4 5673 Short Breakout
L5 5662 Trgt 1
L6 5650 Trgt 2
R3 5774
R2 5744
R1 5723
Avg 5693
S1 5672
S2 5642
S3 5621
Nifty(Oct Fut)-Trading Strategy
H6 5753 Trgt 2
H5 5741 Trgt 1
H4 5730 Long breakout
H3 5716 Go Short
H2 5711
H1 5706
L1 5697
L2 5692
L3 5687 Long
L4 5673 Short Breakout
L5 5662 Trgt 1
L6 5650 Trgt 2
Pre-Closing Outlook(15-10-2012)
All trends are up were up after 600 Nifty points strong rally in 21 sessions from 05-09-2012 to 05-10-2012 and its side ways correction is being seen for the last 6 sessions between 5640-5733 with higher levels selling and lower levels supports.
Minor up moves seen after intraday supports at lower levels today and Nifty is trading between 5674-5691 for the last 2 hours with intraday consolidation patterns therefore expected that today started up moves will remain continued tomorrow but decisive rally after on going correction completion will get confirmation after sustaining above 5733/5756.
Minor up moves seen after intraday supports at lower levels today and Nifty is trading between 5674-5691 for the last 2 hours with intraday consolidation patterns therefore expected that today started up moves will remain continued tomorrow but decisive rally after on going correction completion will get confirmation after sustaining above 5733/5756.
Mid-session Outlook-2 (15-10-2012)
Dow'Futures was more than 25 points down today morning but now 46 points up after sudden surge. Indian markets also got support at lower levels and not moved down fast even after Inflation increasing negative news today. All the Global markets responded US Futures sharp surge and moved up fast.
Indian markets also runs out of Red zone and now trading in Green after good up moves. Next strong resistances between 5700-5733 and follow up consolidation is required for sustaining above it. Nifty is range bound between 5640-5733 with higher levels selling and lower levels supports therefore not prepared for any side decisive moves. Let market prepare and if follow up consolidation happen then next rally will be seen after overcoming above mentioned resistance range.
Mid-session Outlook(15-10-2012)
Following lines were told on 13-10-2012 in 3 weeks Bull Bear Tussle with Bearish Like Formation
"As higher levels selling seen on the last day of previous week therefore expected that Indian markets will firstly slip in the beginning of next week"
As was told same happened and Nifty is trading in Red between 5,651.05-5,676.85 since opening today with higher levels selling signals but could not moved down fast after Inflation increasing negative news therefore lower levels supports can not be ruled out today.
Actual trading range of today is 5654-5669 and sustaining it beyond or forceful break out of this range will give next decisive trend first indication.
"As higher levels selling seen on the last day of previous week therefore expected that Indian markets will firstly slip in the beginning of next week"
As was told same happened and Nifty is trading in Red between 5,651.05-5,676.85 since opening today with higher levels selling signals but could not moved down fast after Inflation increasing negative news therefore lower levels supports can not be ruled out today.
Actual trading range of today is 5654-5669 and sustaining it beyond or forceful break out of this range will give next decisive trend first indication.
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