As good selling and strong resistance formation between 6000-6026 in previous 4 sessions therefore complete consolidation is required for decisive rally above 6026. Nifty is trading within mentioned resistance range between 6006-6015 and preparing for next moves. As emergence of consolidation indications therefore hopes of rally above 6026 turned alive but valid break out of 6000-6026 should also be watched for next immediate moves confirmation.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Post-open Outlook(09-01-2013)
Although Nifty Jan Fut. is trading in Red today but intraday charts have not shown selling formations yet. Nifty is trading in Green but between resistance range(6000-6026) after positive opening and firstly sustaining beyond this range will be watched today for next immediate moves confirmation.
Rally toward 6239.95 after support at 5965
Nifty-EOD Chart (04-Jan-2013):-
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| Just click on chart for its enlarged view |
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| Just click on chart for its enlarged view |
1- Sub Wave-4 completion(5548.35 on 20-11-2012).
2- Sub Wave-5 of Wave-3 continuation.
3- Sub Wave-1 of Sub Wave-5(5965.15 on 11-12-2012)
4- Sub Wave-1 of Sub Wave-5 gained 416.80 points.
5- Sub Wave-2 of Sub Wave-5(5823.15 on 18-12-2012).
6- Sub Wave-3 of Sub Wave-5 is on.
Conclusions from EOD chart analysis
As per Elliot Wave theory Wave-3 of any degree should never be shorter than both Wave-1 and Sub Wave-5 of that degree. Sub Wave-1 gained 416.80 points and as per theory Sub Wave-3 will gain minimum 416.80 points which started from 5823.15 and its minimum target will be:-
5823.15+416.80=6239.95
Nifty-Intra Day Chart (08-Jan-2013):-
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1- Consolidation between 5965-5974.
2- Bounce back after lower levels consolidations.
3- Whole day actual trading between 5965-6006.
Conclusions from intra day chart analysis
When Nifty was trading near 5965 and all the Global market were in Red then we told following lines today at 12:25 PM in Mid-session Outlook(08-01-2013):-
we are expecting support getting and rally beginning after yesterday started correction completion near 5965.
Bounce back after consolidation between 5965-5974 was seen today and importance of 5965 was updated in following topic yesterday:-
Technical positions of last 4 Sessions have already been updated in intraday chart of above mentioned topic and it is clear that good selling and resistance development between 6000-6026 in last 4 sessions and firstly requirement of complete consolidation in the coming sessions for decisive rally above 6026.
Good support at 5965 today and expected that finally on going rally will remain continued toward above mentioned target of 6239.95.
FII & DII trading activity in Capital Market Segment on 08-Jan-2013
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Indian Stock Markets Closing Reports(08-Jan-2013)
1- Benchmark Indices closed in Green.
2- Strong recovery after getting support at 5965.
3- White Candle formation.
Ratios
Index Options Put Call Ratio: 1.04
Total Options Put Call Ratio: 0.98
Nifty P/E Ratio(08-Jan-2013):18.84
Advances & Declines
BSE Advances : 1,433
BSE Declines : 1,505
NSE Advances : 634
NSE Declines : 811
Nifty Open Interest Changed Today
Nifty- 5800 CE(Jan)- 8,100(0.78%)
Nifty- 5800 PE(Jan)- 787,950(12.49%)
Nifty- 5900 CE(Jan)- -90,300(-3.94%)
Nifty- 5900 PE(Jan)- 250,650(4.04%)
Nifty- 6000 CE(Jan)- 65,900(1.42%)
Nifty- 6000 PE(Jan)- 479,800(10.77%)
Nifty- 6100 CE(Jan)- 381,000(6.89%)
Nifty- 6100 PE(Jan)- 111,850 (6.44%)
Closing
Sensex- closed at 19,742.52(51.10 Points & 0.26%)
Nifty- closed at 6,001.70(13.30 Points & 0.22%)
CNX Midcap - closed at 8,791.05(23.00 Points & 0.26%)
CNX Smallcap- closed at 3,880.75(-7.95 Points & -0.20%)
Nifty Spot-Levels & Trading Strategy for 09-01-2013
R3 6060
R2 6033
R1 6017
Avg 5990
S1 5974
S2 5947
S3 5931
Nifty Spot-Trading Strategy
H6 6044 Trgt 2
H5 6034 Trgt 1
H4 6024 Long breakout
H3 6012 Go Short
H2 6008
H1 6004
L1 5997
L2 5993
L3 5989 Long
L4 5977 Short Breakout
L5 5967 Trgt 1
L6 5957 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 09-01-2013
R3 6121
R2 6085
R1 6064
Avg 6028
S1 6007
S2 5971
S3 5950
Nifty(Jan Fut)-Trading Strategy
H6 6100 Trgt 2
H5 6087 Trgt 1
H4 6074 Long breakout
H3 6058 Go Short
H2 6053
H1 6048
L1 6037
L2 6032
L3 6027 Long
L4 6011 Short Breakout
L5 5998 Trgt 1
L6 5985 Trgt 2
Bank Nifty(Jan Fut)-Levels & Trading Strategy for 09-01-2013
R3 12988
R2 12913
R1 12868
Avg 12793
S1 12748
S2 12673
S3 12628
Bank Nifty(Jan Fut)-Trading Strategy
H6 12945 Trgt 2
H5 12917 Trgt 1
H4 12890 Long breakout
H3 12857 Go Short
H2 12846
H1 12835
L1 12813
L2 12802
L3 12791 Long
L4 12758 Short Breakout
L5 12730 Trgt 1
L6 12703 Trgt 2
Mid-session Outlook-2 (08-01-2013)
When Nifty was trading near 5965 then following lines were told today at 12:25:00 PM in Mid-session Outlook(08-01-2013):-
Although all the Global markets are in Red and Indian markets also slipped today but we are expecting support getting and rally beginning after yesterday started correction completion near 5965.
Technical importance of 5965 has already been updated in previous topic yesterday and now Nifty is trading near 5965,closing it beyond should be firstly watched today for next trend confirmation.
We told only for 5965 in both previous Outlooks and Nifty bounced from 5,964.40 and now trading at 5992 as well as given strong indication of yesterday started correction completion near 5965.
As good selling between 6000-6026 in last 4 sessions therefore more consolidation is required for decisive rally above 6026 and also expected that finally on going rally will remain continued after follow up consolidations in the coming sessions.
Although all the Global markets are in Red and Indian markets also slipped today but we are expecting support getting and rally beginning after yesterday started correction completion near 5965.
Technical importance of 5965 has already been updated in previous topic yesterday and now Nifty is trading near 5965,closing it beyond should be firstly watched today for next trend confirmation.
We told only for 5965 in both previous Outlooks and Nifty bounced from 5,964.40 and now trading at 5992 as well as given strong indication of yesterday started correction completion near 5965.
As good selling between 6000-6026 in last 4 sessions therefore more consolidation is required for decisive rally above 6026 and also expected that finally on going rally will remain continued after follow up consolidations in the coming sessions.
Mid-session Outlook(08-01-2013)
Although all the Global markets are in Red and Indian markets also slipped today but we are expecting support getting and rally beginning after yesterday started correction completion near 5965.
Technical importance of 5965 has already been updated in previous topic yesterday and now Nifty is trading near 5965,closing it beyond should be firstly watched today for next trend confirmation.
5965 is most Crucial for Bulls on 08-01-2013
Nifty-Intra Day Chart (Jan 02 to Jan 072013):-
Technical Patterns and Formations in last 4 Sessions intraday charts
1- Buying between 5982-5995 in last 4 sesions.
2- Selling between 6000-6026 in last 4 sesions.
3- 4 Sessions actual trading between 5982-6026.
Conclusions from 4 Sessions intra day chart analysis
Long and Intermediate term trends are up and Short term trend is sideways for the last 4 sessions between 5982-6026 with both higher levels selling and lower levels buying.
Although sharp fall seen in last 40 minutes today but when Indian markets were in Green after gap up opening today then we told following line at 10:40 AM in Post-open Outlook(07-01-2013):-
"market has not shown required strength today therefore profit booking possibility will also be considered"
As higher levels good selling in last 3 sessions also therefore sharp fall seen today and last 4 sessions lowest also broken down. Although good supports also lies between 5982-5995 but complete consolidation is must for sustaining above 5982 and decisive up moves above 6026.
Although closing near lower levels of the day today but it was only very short term correction because as per our views stream is still left in on going rally and Intermediate/Long Term correction is expected from any top between 6239-6331.
Expected that up moves will remain continued after follow up consolidations in the coming sessions and following supports should be firstly watched:-
1- 5982
2- 5965-5977(Gap support)
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1- Buying between 5982-5995 in last 4 sesions.
2- Selling between 6000-6026 in last 4 sesions.
3- 4 Sessions actual trading between 5982-6026.
Conclusions from 4 Sessions intra day chart analysis
Long and Intermediate term trends are up and Short term trend is sideways for the last 4 sessions between 5982-6026 with both higher levels selling and lower levels buying.
Although sharp fall seen in last 40 minutes today but when Indian markets were in Green after gap up opening today then we told following line at 10:40 AM in Post-open Outlook(07-01-2013):-
"market has not shown required strength today therefore profit booking possibility will also be considered"
As higher levels good selling in last 3 sessions also therefore sharp fall seen today and last 4 sessions lowest also broken down. Although good supports also lies between 5982-5995 but complete consolidation is must for sustaining above 5982 and decisive up moves above 6026.
Although closing near lower levels of the day today but it was only very short term correction because as per our views stream is still left in on going rally and Intermediate/Long Term correction is expected from any top between 6239-6331.
Expected that up moves will remain continued after follow up consolidations in the coming sessions and following supports should be firstly watched:-
1- 5982
2- 5965-5977(Gap support)
As on going Sub Wave-3 should not dip or minimum close below the top of Sub Wave-1(5965) and Gap support is just above it also therefore 5965 should be also firstly watched tomorrow for on going rally continuation confirmation.
FII & DII trading activity in Capital Market Segment on 07-Jan-2013
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Indian Stock Markets Closing Reports(07-Jan-2013)
1- Benchmark Indices closed in Red.
2- Midcap and Smallcap closed in Green.
3- Engulfing Bearish candle formation.
Ratios
Index Options Put Call Ratio: 0.95
Total Options Put Call Ratio: 0.87
Nifty P/E Ratio(07-Jan-2013):18.81
Advances & Declines
BSE Advances : 1,618
BSE Declines : 1,319
NSE Advances : 788
NSE Declines : 667
Nifty Open Interest Changed Today
Nifty- 5800 CE(Jan)- 12,800(1.23%)
Nifty- 5800 PE(Jan)- -64,000(-1.00%)
Nifty- 5900 CE(Jan)- 49,600(2.20%)
Nifty- 5900 PE(Jan)- 462,800(7.98%)
Nifty- 6000 CE(Jan)- 208,750(4.43%)
Nifty- 6000 PE(Jan)- 126,600(2.84%)
Nifty- 6100 CE(Jan)- 659,150(13.14%)
Nifty- 6100 PE(Jan)- -9,250(-0.52%)
Closing
Sensex- closed at 19,691.42(-92.66 Points & -0.47%)
Nifty- closed at 5,988.40(-27.75 Points & -0.46%)
CNX Midcap - closed at 8,768.05(21.10 Points & 0.24%)
CNX Smallcap- closed at 3,888.70(9.30 Points & 0.24%)
Nifty Spot-Levels & Trading Strategy for 08-01-2013
R3 6092
R2 6067
R1 6027
Avg 6002
S1 5962
S2 5937
S3 5897
Nifty Spot-Trading Strategy
H6 6053 Trgt 2
H5 6038 Trgt 1
H4 6023 Long breakout
H3 6005 Go Short
H2 5999
H1 5993
L1 5982
L2 5976
L3 5970 Long
L4 5952 Short Breakout
L5 5937 Trgt 1
L6 5922 Trgt 2
Nifty(Jan Fut)-Levels & Trading Strategy for 08-01-2013
R3 6096
R2 6077
R1 6050
Avg 6031
S1 6004
S2 5985
S3 5958
Nifty(Jan Fut)-Trading Strategy
H6 6069 Trgt 2
H5 6058 Trgt 1
H4 6048 Long breakout
H3 6035 Go Short
H2 6031
H1 6027
L1 6018
L2 6014
L3 6010 Long
L4 5997 Short Breakout
L5 5987 Trgt 1
L6 5976 Trgt 2
Bank Nifty(Jan Fut)-Levels & Trading Strategy for 08-01-2013
R3 13016
R2 12962
R1 12879
Avg 12825
S1 12742
S2 12688
S3 12605
Bank Nifty(Jan Fut)-Trading Strategy
H6 12933 Trgt 2
H5 12902 Trgt 1
H4 12871 Long breakout
H3 12833 Go Short
H2 12821
H1 12808
L1 12783
L2 12770
L3 12758 Long
L4 12720 Short Breakout
L5 12689 Trgt 1
L6 12658 Trgt 2
Pre-Closing Outlook(07-01-2013)
profit booking possibility was told today at 10:40 AM in Post-open Outlook(07-01-2013) when Indian markets were in Green after gap up opening and Nifty traded more than 35 points down today. Last 4 sessions narrow range trading between 5982-6026 with lower levels confirm supports and higher levels selling also.
As Nifty is trading near 5982 therefore firstly sustaining it beyond will be watched tomorrow for the possibility of correction continuation/completion.
As Nifty is trading near 5982 therefore firstly sustaining it beyond will be watched tomorrow for the possibility of correction continuation/completion.
Mid-session Outlook(07-01-2013)
As soon as profit booking possibility was seen then it was immediately updated in Post-open Outlook(07-01-2013) and intraday lows were broken down also. Nifty actual trading range of today is 6006-6026 with minor selling at higher levels and last 2 hours mixed intraday patterns trading between 6006-6016.
Valid break out of 6006-6026 will give next very short term down trend confirmation below 6006 and on going rally continuation confirmation above 6026.
Valid break out of 6006-6026 will give next very short term down trend confirmation below 6006 and on going rally continuation confirmation above 6026.
Post-open Outlook(07-01-2013)
Although positive zone trading after gap up opening today but market has not shown required strength today therefore profit booking possibility will also be considered.
Today trading range(6012-6042) should be firstly watched for immediate next moves.
Today trading range(6012-6042) should be firstly watched for immediate next moves.
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