Nifty was trading at 6050 at 12:30 PM but moved sharply immediately after strong opening of European markets and today up moves were fuelled by strong up moves in US Futures also. As IIP numbers also improved therefore strong rally seen after its announcements. Now trading near the top of last resistance range(6050-6105) of on going rally. As today up moves are completely news based therefore finally sustaining above 6105 should be watched for strong rally above 6111.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Correcion on cards
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1- Selling between 6070-6082
2- Whole day actual trading between 6040-6082
Conclusions from intra day chart analysis
All trends are up and impulsive Wave-5 continuation but Indicators are overbought and suggesting for correction. Although complete selling patterns on daily charts are required for any deeper correction but Short Term correction is very much possible after any day higher levels intraday selling. As intraday selling patterns formations yesterday therefore minimum Short Term correction will be seen today.
Support were seen between 6024-6040 on 08-05-2013 and expected that Nifty will firstly trade within this range today. As higher levels selling yesterday therefore firstly sustaining beyond 6024 should be watched today for range bound correction between 6024-6083 or little deeper correction toward 5985.
FII & DII trading activity in Capital Market Segment on 09-May-2013
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Indian Stock Markets Closing Reports(09-May-2013)
Main features of today trading are as follows
Ratios
Index Options Put Call Ratio: 1.17
Total Options Put Call Ratio: 1.09
Nifty P/E Ratio(09-May-2013): 18.00
Advances & Declines
BSE Advances : 1,084
BSE Declines : 1,319
NSE Advances : 596
NSE Declines : 829
Nifty Open Interest Changed Today
Nifty- 5700 CE(May)- -14,100(-0.85%)
Nifty- 5700 PE(May)- 675,450(8.71%)
Nifty- 5800 CE(May)- -23,350(-1.07%)
Nifty- 5800 PE(May)- 326,450(3.71%)
Nifty- 5900 CE(May)- -293,350(-7.61%)
Nifty- 5900 PE(May)- 76,800(1.09%)
Nifty- 6000 CE(May)- 69,500(1.40%)
Nifty- 6000 PE(May)- 237,000(4.14%)
Nifty- 6100 CE(May)- 95,050(1.83%)
Nifty- 6100 PE(May)- 294,700(%)
Nifty- 6200 CE(May)- 610,350(9.78%)
Nifty- 6200 PE(May)- -10,850(-1.47%)
Closing
Sensex- closed at 19,939.04(-51.14 Points & -0.26%)
Nifty- closed at 6,050.15(-19.15 Points & -0.32%)
CNX Midcap - closed at 7,983.80(-58.35 Points & -0.73%)
CNX Smallcap- closed at 3,338.20(-8.85 Points & -0.26%)
Nifty Spot-Levels & Trading Strategy for 10-05-2013
Nifty Spot-Levels
R3 6120
R2 6102
R1 6076
Avg 6058
S1 6032
S2 6014
S3 5988
Nifty Spot-Trading Strategy
H6 6094 Trgt 2
H5 6084 Trgt 1
H4 6074 Long breakout
H3 6062 Go Short
H2 6058
H1 6054
L1 6045
L2 6041
L3 6037 Long
L4 6025 Short Breakout
L5 6015 Trgt 1
L6 6005 Trgt 2
R3 6120
R2 6102
R1 6076
Avg 6058
S1 6032
S2 6014
S3 5988
Nifty Spot-Trading Strategy
H6 6094 Trgt 2
H5 6084 Trgt 1
H4 6074 Long breakout
H3 6062 Go Short
H2 6058
H1 6054
L1 6045
L2 6041
L3 6037 Long
L4 6025 Short Breakout
L5 6015 Trgt 1
L6 6005 Trgt 2
Nifty(May Fut)-Levels & Trading Strategy for 10-05-2013
Nifty(May Fut)-Levels
R3 6131
R2 6110
R1 6079
Avg 6058
S1 6027
S2 6006
S3 5975
Nifty(May Fut)-Trading Strategy
H6 6094 Trgt 2
H5 6084 Trgt 1
H4 6074 Long breakout
H3 6062 Go Short
H2 6058
H1 6054
L1 6045
L2 6041
L3 6037 Long
L4 6025 Short Breakout
L5 6015 Trgt 1
L6 6005 Trgt 2
R3 6131
R2 6110
R1 6079
Avg 6058
S1 6027
S2 6006
S3 5975
Nifty(May Fut)-Trading Strategy
H6 6094 Trgt 2
H5 6084 Trgt 1
H4 6074 Long breakout
H3 6062 Go Short
H2 6058
H1 6054
L1 6045
L2 6041
L3 6037 Long
L4 6025 Short Breakout
L5 6015 Trgt 1
L6 6005 Trgt 2
Bank Nifty(May Fut)-Levels & Trading Strategy for 10-05-2013
Bank Nifty(May Fut)-Levels
R3 12841
R2 12761
R1 12645
Avg 12565
S1 12449
S2 12369
S3 12253
Bank Nifty(May Fut)-Trading Strategy
H6 12725 Trgt 2
H5 12681 Trgt 1
H4 12636 Long breakout
H3 12582 Go Short
H2 12564
H1 12546
L1 12511
L2 12493
L3 12475 Long
L4 12421 Short Breakout
L5 12376 Trgt 1
L6 12332 Trgt 2
R3 12841
R2 12761
R1 12645
Avg 12565
S1 12449
S2 12369
S3 12253
Bank Nifty(May Fut)-Trading Strategy
H6 12725 Trgt 2
H5 12681 Trgt 1
H4 12636 Long breakout
H3 12582 Go Short
H2 12564
H1 12546
L1 12511
L2 12493
L3 12475 Long
L4 12421 Short Breakout
L5 12376 Trgt 1
L6 12332 Trgt 2
Pre-Closing Outlook(09-05-2013)
Although Last Traded Price of Nifty was at the highest of the day(6083) yesterday but we were not Bullish because intraday showed selling patterns indications between 6050-6065 in last more than 2 hours yesterday. We clearly told the condition of sustaining above 6083 in both previous Outlooks.
As was suspected same happened and Nifty traded whole day below 6083 today with intraday selling patterns at higher levels therefore Short Term Correction is expected now.
As was suspected same happened and Nifty traded whole day below 6083 today with intraday selling patterns at higher levels therefore Short Term Correction is expected now.
Post-open Outlook(09-05-2013)
As selling patterns indications at higher levels seen in last more than 2 hours yesterday therefore following line was told today at 01:13 AM in Technical Analysis and Market Outlook(09-05-2013)
1- selling patterns indications at higher levels seen in last more than 2 hours
2- sustaining above yesterday high(6083) should be firstly watched today for immediate next up moves confirmations.
Selling indications between 6050-6065 yesterday and Nifty traded most time between this range today. Follow up moves between this range will give first indication of next immediate moves and its valid break out should be firstly watched today.
1- selling patterns indications at higher levels seen in last more than 2 hours
2- sustaining above yesterday high(6083) should be firstly watched today for immediate next up moves confirmations.
Selling indications between 6050-6065 yesterday and Nifty traded most time between this range today. Follow up moves between this range will give first indication of next immediate moves and its valid break out should be firstly watched today.
Technical Analysis and Market Outlook(09-05-2013)
Nifty-Intra Day Chart (08-May-2013):-
Technical Patterns and Formations in today intraday charts
1- Support between 6024-6040
2- Selling indications 6050-6065
3- Whole day actual trading between 6024-6083
All trends are up and impulsive Wave-5 continuation but Indicators are overbought and suggesting for correction. As complete selling patterns on daily charts are required for any deeper correction and no such patterns formations yet therefore any deeper correction will not be considered at this moment. Many times Bullish markets complete its corrections between sideways moves or at higher levels consolidations therefore such type of corrections should be kept in mind.
Lower levels supports and selling patterns indications at higher levels seen in last more than 2 hours therefore mixed patterns formations on 08-05-2013. Next strong resistance are between 6050-6105 and complete consolidations patterns are required for crossing and sustaining above 6105 but Nifty traded between this range with selling patterns indications therefore sustaining above yesterday high(6083) should be firstly watched today for immediate next up moves confirmations.
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1- Support between 6024-6040
2- Selling indications 6050-6065
3- Whole day actual trading between 6024-6083
Conclusions from intra day chart analysis
All trends are up and impulsive Wave-5 continuation but Indicators are overbought and suggesting for correction. As complete selling patterns on daily charts are required for any deeper correction and no such patterns formations yet therefore any deeper correction will not be considered at this moment. Many times Bullish markets complete its corrections between sideways moves or at higher levels consolidations therefore such type of corrections should be kept in mind.
Lower levels supports and selling patterns indications at higher levels seen in last more than 2 hours therefore mixed patterns formations on 08-05-2013. Next strong resistance are between 6050-6105 and complete consolidations patterns are required for crossing and sustaining above 6105 but Nifty traded between this range with selling patterns indications therefore sustaining above yesterday high(6083) should be firstly watched today for immediate next up moves confirmations.
As complete selling patterns are required for any deeper correction and no such formation seen yet therefore rally continuation is expected after follow up consolidations within mentioned resistance range.
FII & DII trading activity in Capital Market Segment on 08-May-2013
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Indian Stock Markets Closing Reports(08-May-2013)
Main features of today trading are as follows
Ratios
Index Options Put Call Ratio: 1.00
Total Options Put Call Ratio: 0.96
Nifty P/E Ratio(08-May-2013):18.03
Advances & Declines
BSE Advances : 1,238
BSE Declines : 1,194
NSE Advances : 715
NSE Declines : 700
Nifty Open Interest Changed Today
Nifty- 5800 CE(May)- -115,650(-5.02%)
Nifty- 5800 PE(May)- 278,000(3.26%)
Nifty- 5900 CE(May)- -768,950(-16.63%)
Nifty- 5900 PE(May)- 573,650(8.90%)
Nifty- 6000 CE(May)- -22,000(-0.44%)
Nifty- 6000 PE(May)- 934,850(19.53%)
Nifty- 6100 CE(May)- 166,950(3.32%)
Nifty- 6100 PE(May)- 487,700(41.52%)
Nifty- 6200 CE(May)- 623,850(11.11%)
Nifty- 6200 PE(May)- -250(-0.03%)
Closing
Sensex- closed at 19,990.18(101.23 Points & 0.51%)
Nifty- closed at 6,069.30(25.75 Points & 0.43%)
CNX Midcap - closed at 8,042.15(2.50 Points & 0.03%)
CNX Smallcap- closed at 3,347.05(31.90 Points & 0.96%)
Nifty Spot-Levels & Trading Strategy for 09-05-2013
Nifty Spot-Levels
R3 6152
R2 6117
R1 6093
Avg 6058
S1 6034
S2 5999
S3 5975
Nifty Spot-Trading Strategy
H6 6128 Trgt 2
H5 6114 Trgt 1
H4 6101 Long breakout
H3 6085 Go Short
H2 6079
H1 6074
L1 6063
L2 6058
L3 6052 Long
L4 6036 Short Breakout
L5 6023 Trgt 1
L6 6009 Trgt 2
R3 6152
R2 6117
R1 6093
Avg 6058
S1 6034
S2 5999
S3 5975
Nifty Spot-Trading Strategy
H6 6128 Trgt 2
H5 6114 Trgt 1
H4 6101 Long breakout
H3 6085 Go Short
H2 6079
H1 6074
L1 6063
L2 6058
L3 6052 Long
L4 6036 Short Breakout
L5 6023 Trgt 1
L6 6009 Trgt 2
Nifty(May Fut)-Levels & Trading Strategy for 09-05-2013
Nifty(May Fut)-Levels
R3 6165
R2 6127
R1 6101
Avg 6063
S1 6037
S2 5999
S3 5973
Nifty(May Fut)-Trading Strategy
H6 6139 Trgt 2
H5 6124 Trgt 1
H4 6110 Long breakout
H3 6092 Go Short
H2 6086
H1 6080
L1 6069
L2 6063
L3 6057 Long
L4 6039 Short Breakout
L5 6025 Trgt 1
L6 6010 Trgt 2
R3 6165
R2 6127
R1 6101
Avg 6063
S1 6037
S2 5999
S3 5973
Nifty(May Fut)-Trading Strategy
H6 6139 Trgt 2
H5 6124 Trgt 1
H4 6110 Long breakout
H3 6092 Go Short
H2 6086
H1 6080
L1 6069
L2 6063
L3 6057 Long
L4 6039 Short Breakout
L5 6025 Trgt 1
L6 6010 Trgt 2
Bank Nifty(May Fut)-Levels & Trading Strategy for 09-05-2013
Bank Nifty(May Fut)-Levels
R3 12881
R2 12770
R1 12687
Avg 12576
S1 12493
S2 12382
S3 12299
Bank Nifty(May Fut)-Trading Strategy
H6 12800 Trgt 2
H5 12755 Trgt 1
H4 12710 Long breakout
H3 12657 Go Short
H2 12639
H1 12621
L1 12586
L2 12568
L3 12550 Long
L4 12497 Short Breakout
L5 12452 Trgt 1
L6 12407 Trgt 2
R3 12881
R2 12770
R1 12687
Avg 12576
S1 12493
S2 12382
S3 12299
Bank Nifty(May Fut)-Trading Strategy
H6 12800 Trgt 2
H5 12755 Trgt 1
H4 12710 Long breakout
H3 12657 Go Short
H2 12639
H1 12621
L1 12586
L2 12568
L3 12550 Long
L4 12497 Short Breakout
L5 12452 Trgt 1
L6 12407 Trgt 2
Pre-Closing Outlook(08-05-2013)
Whole day sideways trading between 6026-6068 with lower levels supports and higher levels selling patterns indications. All trends are up and now trading near the highs of on going rally as well as today trading near the lower levels of next strong resistance range(6050-6105).
As indicators are overbought therefore correction is due and some selling indications have emerged at higher levels today therefore sustaining beoynd today trading range will be firstly watched tomorrow for next moves confirmations because lower levels supports also seen today.
As indicators are overbought therefore correction is due and some selling indications have emerged at higher levels today therefore sustaining beoynd today trading range will be firstly watched tomorrow for next moves confirmations because lower levels supports also seen today.
Mid-session Outlook(08-05-2013)
Following lives were told yesterday in Rally continuation
1- minor corrections will be considered at this moment
2- Next strong resistances are between 6050-6105 and market requires complete follow up consolidations for crossing and sustaining above it
Firstly Nifty traded almost 2 hours within mentioned resistance range and slipped below it as well but intraday patterns are not showing selling patterns and suggesting consolidations patterns formations. As market requires complete follow up consolidations for crossing and sustaining above mentioned resistance range therefore Nifty will hover around this range(6050-6105) in the coming sessions and prepare for next up moves above 6111 after completion of minor corrections.
1- minor corrections will be considered at this moment
2- Next strong resistances are between 6050-6105 and market requires complete follow up consolidations for crossing and sustaining above it
Firstly Nifty traded almost 2 hours within mentioned resistance range and slipped below it as well but intraday patterns are not showing selling patterns and suggesting consolidations patterns formations. As market requires complete follow up consolidations for crossing and sustaining above mentioned resistance range therefore Nifty will hover around this range(6050-6105) in the coming sessions and prepare for next up moves above 6111 after completion of minor corrections.
Rally continuation
Nifty-Intra Day Chart (07-May-2013):-
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| Just click on chart for its enlarged view |
1- First 3 hours lower levels consolidation between 5995-6005.
2- Bullish Flag formations.
3- Whole day actual trading between 5995-6050
Conclusions from intra day chart analysis
Sentiment is heated and indicators are over bought therefore intraday corrections can not be ruled out. As Many times Bullish markets completes correction in range bound mode or after higher levels consolidations also therefore only such type of minor corrections will be considered at this moment because no selling seen today and complete selling patterns are required for decisive down moves or deeper correction.
Although negative news flow form Parliament today but Indian markets showed whole day up moves after first 3 hours lower levels consolidations and Bullish Flag formations in the Mid session therefore rally continuation is expected in the coming sessions.
Next strong resistances are between 6050-6105 and market requires complete follow up consolidations for crossing and sustaining above it therefore slow up moves within this range and coming 1/2 sessions trading within it is possible. As no harm to on going rally yet therefore up moves will be seen within and above mentioned resistances range(6050-6105).
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