Rally continuations and now trading at 5913 after clearing of resistance above 5895 but buying should be done after intraday correction completion because sharp surge immediately after opening and some profit booking is possible at higher levels.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(08-03-2013)
Nifty-Intra Day Chart (07-Mar-2013):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5803-5823.
2- Whole day actual trading between 5803-5875.
Long Term Trend is up,Intermediate Term Trend is down and Short Term Trend turned up after lower levels good consolidations and rally within resistance range(5800-5895) yesterday. As Short Term Indicators were oversold therefore Pull Back Rally was due and it was seen yesterday and until intraday selling patterns will not develop till then its continuation will be expected. As no intraday selling seen therefore up moves continuation willl be expected.
Nifty traded 61 previous sessions between 5823-6111 with Bearish Head and Shoulders pattern formations and its Neckline(5823) as well as 61 sessions range broken down on 26-03-2013 but Nifty reentered mentioned range yesterday after passing 7 sessions below 5823. As Nifty Slipped below 5823 after good higher levels selling in 61 sessions therefore strong resistances up to 6110 and complete follow up consolidation is required for up moves continuation. As up moves continuation after 'ABC' waves formations therefore correction completion possibility will also be considered.
Pre-open Outlook(08-03-2013)
Sentiment is heated today after yesterday rally and strong moves in some Asian markets therefore profit booking possibility can not be ruled out today and firstly mentioned resistance range(5800-5895) valid break out should be watched for next rally confirmations.
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| Just click on chart for its enlarged view |
1- Consolidation between 5803-5823.
2- Whole day actual trading between 5803-5875.
Conclusions from intra day chart analysis
Long Term Trend is up,Intermediate Term Trend is down and Short Term Trend turned up after lower levels good consolidations and rally within resistance range(5800-5895) yesterday. As Short Term Indicators were oversold therefore Pull Back Rally was due and it was seen yesterday and until intraday selling patterns will not develop till then its continuation will be expected. As no intraday selling seen therefore up moves continuation willl be expected.
Nifty traded 61 previous sessions between 5823-6111 with Bearish Head and Shoulders pattern formations and its Neckline(5823) as well as 61 sessions range broken down on 26-03-2013 but Nifty reentered mentioned range yesterday after passing 7 sessions below 5823. As Nifty Slipped below 5823 after good higher levels selling in 61 sessions therefore strong resistances up to 6110 and complete follow up consolidation is required for up moves continuation. As up moves continuation after 'ABC' waves formations therefore correction completion possibility will also be considered.
Pre-open Outlook(08-03-2013)
Sentiment is heated today after yesterday rally and strong moves in some Asian markets therefore profit booking possibility can not be ruled out today and firstly mentioned resistance range(5800-5895) valid break out should be watched for next rally confirmations.
FII & DII trading activity in Capital Market Segment on 01-Mar-2013
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Nifty Spot-Levels & Trading Strategy for 08-03-2013
Nifty Spot-Levels
R3 5970
R2 5924
R1 5893
Avg 5847
S1 5816
S2 5770
S3 5739
Nifty Spot-Trading Strategy
H6 5940 Trgt 2
H5 5923 Trgt 1
H4 5905 Long breakout
H3 5884 Go Short
H2 5877
H1 5870
L1 5855
L2 5848
L3 5841 Long
L4 5820 Short Breakout
L5 5802 Trgt 1
L6 5785 Trgt 2
R3 5970
R2 5924
R1 5893
Avg 5847
S1 5816
S2 5770
S3 5739
Nifty Spot-Trading Strategy
H6 5940 Trgt 2
H5 5923 Trgt 1
H4 5905 Long breakout
H3 5884 Go Short
H2 5877
H1 5870
L1 5855
L2 5848
L3 5841 Long
L4 5820 Short Breakout
L5 5802 Trgt 1
L6 5785 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 08-03-2013
Nifty(Mar Fut)-Levels
R3 6009
R2 5956
R1 5922
Avg 5869
S1 5835
S2 5782
S3 5748
Nifty(Mar Fut)-Trading Strategy
H6 5977 Trgt 2
H5 5956 Trgt 1
H4 5936 Long breakout
H3 5912 Go Short
H2 5904
H1 5896
L1 5881
L2 5873
L3 5865 Long
L4 5841 Short Breakout
L5 5821 Trgt 1
L6 5800 Trgt 2
R3 6009
R2 5956
R1 5922
Avg 5869
S1 5835
S2 5782
S3 5748
Nifty(Mar Fut)-Trading Strategy
H6 5977 Trgt 2
H5 5956 Trgt 1
H4 5936 Long breakout
H3 5912 Go Short
H2 5904
H1 5896
L1 5881
L2 5873
L3 5865 Long
L4 5841 Short Breakout
L5 5821 Trgt 1
L6 5800 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 08-03-2013
Bank Nifty(Mar Fut)-Levels
R3 12282
R2 12164
R1 12095
Avg 11977
S1 11908
S2 11790
S3 11721
Bank Nifty(Mar Fut)-Trading Strategy
H6 12215 Trgt 2
H5 12172 Trgt 1
H4 12128 Long breakout
H3 12077 Go Short
H2 12060
H1 12043
L1 12008
L2 11991
L3 11974 Long
L4 11923 Short Breakout
L5 11879 Trgt 1
L6 11836 Trgt 2
R3 12282
R2 12164
R1 12095
Avg 11977
S1 11908
S2 11790
S3 11721
Bank Nifty(Mar Fut)-Trading Strategy
H6 12215 Trgt 2
H5 12172 Trgt 1
H4 12128 Long breakout
H3 12077 Go Short
H2 12060
H1 12043
L1 12008
L2 11991
L3 11974 Long
L4 11923 Short Breakout
L5 11879 Trgt 1
L6 11836 Trgt 2
Pre-Closing Outlook(07-03-2013)
As Nifty is trading between resistance range(5800-5895) and fresh consolidation is required for any up move therefore up moves are slow. Although Nifty slipped below 5828 but lower levels good consolidations today and yesterday therefore until Nifty will not sustain below 5796 till then any down move will not be considered and sustaining above 5828 will be strong indication of up moves continuation.
Mid-session Outlook(07-03-2013)
Clear consolidations patterns at lower levels today and some intraday up moves were also seen after positive opening of European markets. As intraday selling was seen at higher levels yesterday therefore some more consolidations are required for valid break out above yesterday highs(5828). Fresh up moves expectations turned alive after lower levels consolidations today and only valid break out above 5828 should be watched now for fresh up moves confirmations.
Post-open Outlook(07-03-2013)
Following lines were told yesterday in Technical Analysis and Market Outlook(07-03-2013):-
1- good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
2- As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range.
3- Although down moves below 5796 are expected but valid break out of 5796-5828 should be watched tomorrow for next moves confirmations.
Down moves were expected and Nifty is trading in Red since opening today with lowest formation at 5801.30. Valid break out of 5796-5828 should be firstly watched today for next trend confirmations.
1- good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
2- As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range.
3- Although down moves below 5796 are expected but valid break out of 5796-5828 should be watched tomorrow for next moves confirmations.
Down moves were expected and Nifty is trading in Red since opening today with lowest formation at 5801.30. Valid break out of 5796-5828 should be firstly watched today for next trend confirmations.
Technical Analysis and Market Outlook(07-03-2013)
Nifty-Intra Day Chart (06-Mar-2013):-
Technical Patterns and Formations in today intraday charts
1- Support between 5796-5802
2- Selling between 5818-5828
3- Whole day actual trading between 5796-5828
Strong Global cues led gap up opening and slow up moves after lower levels supports but higher levels good selling also despite closing near intraday higher levels. As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range. It should be kept in mind that good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
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| Just click on chart for its enlarged view |
1- Support between 5796-5802
2- Selling between 5818-5828
3- Whole day actual trading between 5796-5828
Conclusions from intra day chart analysis
Strong Global cues led gap up opening and slow up moves after lower levels supports but higher levels good selling also despite closing near intraday higher levels. As mixed intraday positions today therefore Nifty will firstly trade and prepare for next moves between today trading range. It should be kept in mind that good selling at higher levels today and follow up selling tomorrow will mean firstly down moves toward 5665 after completion of Bounce back.
Although down moves below 5796 are expected but valid break out of 5796-5828 should be watched tomorrow for next moves confirmations.
FII & DII trading activity in Capital Market Segment on 06-Mar-2013
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Nifty Spot-Levels & Trading Strategy for 07-03-2013
Nifty Spot-Levels
R3 5865
R2 5846
R1 5832
Avg 5813
S1 5799
S2 5780
S3 5766
Nifty Spot-Trading Strategy
H6 5851 Trgt 2
H5 5843 Trgt 1
H4 5836 Long breakout
H3 5827 Go Short
H2 5824
H1 5821
L1 5814
L2 5811
L3 5808 Long
L4 5799 Short Breakout
L5 5792 Trgt 1
L6 5784 Trgt 2
R3 5865
R2 5846
R1 5832
Avg 5813
S1 5799
S2 5780
S3 5766
Nifty Spot-Trading Strategy
H6 5851 Trgt 2
H5 5843 Trgt 1
H4 5836 Long breakout
H3 5827 Go Short
H2 5824
H1 5821
L1 5814
L2 5811
L3 5808 Long
L4 5799 Short Breakout
L5 5792 Trgt 1
L6 5784 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 07-03-2013
Nifty(Mar Fut)-Levels
R3 5891
R2 5870
R1 5855
Avg 5834
S1 5819
S2 5798
S3 5783
Nifty(Mar Fut)-Trading Strategy
H6 5877 Trgt 2
H5 5868 Trgt 1
H4 5860 Long breakout
H3 5850 Go Short
H2 5847
H1 5844
L1 5837
L2 5834
L3 5831 Long
L4 5821 Short Breakout
L5 5813 Trgt 1
L6 5804 Trgt 2
R3 5891
R2 5870
R1 5855
Avg 5834
S1 5819
S2 5798
S3 5783
Nifty(Mar Fut)-Trading Strategy
H6 5877 Trgt 2
H5 5868 Trgt 1
H4 5860 Long breakout
H3 5850 Go Short
H2 5847
H1 5844
L1 5837
L2 5834
L3 5831 Long
L4 5821 Short Breakout
L5 5813 Trgt 1
L6 5804 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 07-03-2013
Bank Nifty(Mar Fut)-Levels
R3 12033
R2 11988
R1 11955
Avg 11910
S1 11877
S2 11832
S3 11799
Bank Nifty(Mar Fut)-Trading Strategy
H6 12000 Trgt 2
H5 11982 Trgt 1
H4 11964 Long breakout
H3 11943 Go Short
H2 11936
H1 11929
L1 11914
L2 11907
L3 11900 Long
L4 11879 Short Breakout
L5 11861 Trgt 1
L6 11843 Trgt 2
R3 12033
R2 11988
R1 11955
Avg 11910
S1 11877
S2 11832
S3 11799
Bank Nifty(Mar Fut)-Trading Strategy
H6 12000 Trgt 2
H5 11982 Trgt 1
H4 11964 Long breakout
H3 11943 Go Short
H2 11936
H1 11929
L1 11914
L2 11907
L3 11900 Long
L4 11879 Short Breakout
L5 11861 Trgt 1
L6 11843 Trgt 2
Mid-session Outlook-2(06-03-2013)
Following lines have been told in both previous Outlooks:-
1- lacking strength and view is cautious because emergence of selling signals also
2- As today up moves are without required force and it is selling signal therefore view is cautious
3- As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance.
4- valid break out of mentioned range will give next trend confirmations and should be firstly watched.
1- lacking strength and view is cautious because emergence of selling signals also
2- As today up moves are without required force and it is selling signal therefore view is cautious
3- As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance.
4- valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Although Nifty moved and traded half hour above 5821 as well as formed intraday high at 5,828.25 but again slipped below 5821 and then again traded at 5811. At present lower levels supports and higher levels selling confirmations between 5795-5828 and follow up moves within this range in the coming hours as well as valid break out of 5795-5828 should be watched now for next moves confirmations.
Mid-session Outlook(06-03-2013)
As today up moves are without required force and it is selling signal therefore view is cautious. Nifty is trading between resistance range(5800-5895) and intraday corrections with consolidations are required for decisive up moves within this range.
Nifty firstly traded at 5821 within 1st minute of opening and since then trading below it after forming lowest at 5795.05. As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance and:-
1- Above 5821 will mean up moves after possibility of follow up consolidations within resistance range.
2- Below 5795 will mean down moves and strengthening of resistance.
Follow up moves in the coming hours and valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Nifty firstly traded at 5821 within 1st minute of opening and since then trading below it after forming lowest at 5795.05. As consolidations are required for decisive up moves and continuation of yesterday started rally therefore Nifty will prepare for next moves between 5795-5821 and break out of this range will give confirmation of market reaction toward mentioned resistance and:-
1- Above 5821 will mean up moves after possibility of follow up consolidations within resistance range.
2- Below 5795 will mean down moves and strengthening of resistance.
Follow up moves in the coming hours and valid break out of mentioned range will give next trend confirmations and should be firstly watched.
Post-open Outlook(06-03-2013)
Positive zone trading after after good gap up opening but lacking strength and view is cautious because emergence of selling signals also.
Technical Analysis and Market Outlook(06-03-2013)
Nifty-Intra Day Chart (05-Mar-2013):-
Technical Patterns and Formations in today intraday charts
1- Consolidation Patterns between 5725-5740
2- Consolidation Patterns between 5747-5757
3- Whole day actual trading between 5725-5789
Whole day up moves with lower level consolidations and closing near higher levels of the day but multiple resistances between 5800-5895 therefore more consolidation is required for any decisive up moves between and above this range. Intermediate and Short term trends are down and Long Term Trend is up,Pull Back Rally continuation after panic bottom formation after Budget and more up moves will be seen also because no selling seen yesterday. Lot of consolidations between 5800-5895 and more confirmations are required for the projection of rally formations,let it happen then will be updated accordingly. Firstly following retracement levels should be watched for the targets of on going up moves:-
27.0%- 5784
38.2%- 5834(Most crucial)
50.0%- 5887(Most crucial)
61.8%- 5940(Most crucial)
70.7%- 5980
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| Just click on chart for its enlarged view |
1- Consolidation Patterns between 5725-5740
2- Consolidation Patterns between 5747-5757
3- Whole day actual trading between 5725-5789
Conclusions from intra day chart analysis
Whole day up moves with lower level consolidations and closing near higher levels of the day but multiple resistances between 5800-5895 therefore more consolidation is required for any decisive up moves between and above this range. Intermediate and Short term trends are down and Long Term Trend is up,Pull Back Rally continuation after panic bottom formation after Budget and more up moves will be seen also because no selling seen yesterday. Lot of consolidations between 5800-5895 and more confirmations are required for the projection of rally formations,let it happen then will be updated accordingly. Firstly following retracement levels should be watched for the targets of on going up moves:-
27.0%- 5784
38.2%- 5834(Most crucial)
50.0%- 5887(Most crucial)
61.8%- 5940(Most crucial)
70.7%- 5980
FII & DII trading activity in Capital Market Segment on 05-Mar-2013
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