Bank Nifty Spot-Weekly Levels & Trading Strategy(May 20 to May 24,2013)

Bank Nifty Spot-Weekly Levels

R3 14448
R2 13901
R1 13609
Avg 13062
S1 12770
S2 12223
S3 11931

Bank Nifty Spot-Weekly Trading Strategy 

H6  14209    Trgt 2
H5  13994    Trgt 1
H4  13778    Long breakout
H3  13547    Go Short
H2  13470
H1  13393
L1  13240
L2  13163
L3  13086    Long
L4  12855    Short Breakout
L5  12639    Trgt 1
L6  12424    Trgt 2

Pre-Closing Outlook(17-05-2013)

2 Sessions actual trading between 6147-6186 with selling patterns yesterday and consolidations formations today. As emergence of consolidation signals immediately after opening today therefore following lines were told in both previous Outlooks today at 09:44:00 AM and 11:13:00 AM:-

1- Bull Markets consolidates at higher levels also
2- sometimes Bull markets starts fresh up moves after higher levels consolidations

Rally continuation after lower levels consolidations today

Mid-session Outlook(17-05-2013)

As selling developed therefore only very short term correction was projected yesterday and  market slipped toward new intraday lows also. Although market is trading in Red but sometimes Bull markets starts fresh up moves after higher levels consolidations therefore follow up moves today and valid break out of 2 sessions actual trading range(6154-6186) should be firstly watched for next immediate move confirmations.

Post-open Outlook(17-05-2013)

As selling yesterday therefore very short term correction is expected but Bull Markets consolidates at higher levels also therefore valid break out of yesterday trading range(6156-6186) should be firstly watched for next immediate move confirmations.

Technical Analysis and Market Outlook(17-05-2013)

Nifty-Intra Day Chart (16-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 6176-6186
2- Buying between 6156-6162
3- Whole day actual trading between 6156-6186

Conclusions from intra day chart analysis

Although whole day narrow range trading in Green with higher levels selling and lower levels supports today therefore sustaining beyond today actual trading range(6156-6186) will be next very short term term trend confirmation but down moves possibilities are more because good selling seen at higher levels today.

FII Trading Data in Derivatives Segment on 16-May-2013

FII & DII trading activity in Capital Market Segment on 16-May-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 16-May-2013 3892.2 2821.88 1070.32

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 16-May-2013 1298.93 1689.35 -390.42

Indian Stock Markets Closing Reports(16-May-2013

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.05
Total Options Put Call Ratio: 0.98
Nifty P/E Ratio(16-May-2013): 18.24

Advances & Declines

BSE Advances : 1,199
BSE Declines : 1,277
NSE Advances :   687
NSE Declines :   718

Nifty Open Interest Changed Today

Nifty- 5900  CE(May)- -238,600(-8.96%)
Nifty- 5900  PE(May)- -291,400(-3.68%)

Nifty- 6000  CE(May)- -548,400(-13.81%)
Nifty- 6000  PE(May)-  583,100(7.95%)

Nifty- 6100  CE(May)- -247,700(-4.04%)
Nifty- 6100  PE(May)-  491,250 (10.31%)

Nifty- 6200  CE(May)- 274,750(4.00%)
Nifty- 6200  PE(May)- 793,650(28.22%)

Nifty- 6300  CE(May)- 220,600(4.44%)
Nifty- 6300  PE(May)- 223,950(49.77%)

Closing

Sensex- closed at 20,247.33(34.37 Points & 0.17%)
Nifty- closed at 6,169.90(23.15 Points & 0.38%)
CNX Midcap - closed at 8,142.00(48.35 Points & 0.60%)
CNX Smallcap- closed at 3,358.35(12.35 Points & 0.37%)

Nifty Spot-Levels & Trading Strategy for 17-05-2013

Nifty Spot-Levels

R3 6253
R2 6220
R1 6194
Avg 6161
S1 6135
S2 6102
S3 6076

Nifty Spot-Trading Strategy

H6  6228    Trgt 2
H5  6214    Trgt 1
H4  6201    Long breakout
H3  6185    Go Short
H2  6179
H1  6174
L1  6163
L2  6158
L3  6152    Long
L4  6136    Short Breakout
L5  6123    Trgt 1
L6  6109    Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 17-05-2013

Nifty(May Fut)-Levels

R3 6258
R2 6228
R1 6203
Avg 6173
S1 6148
S2 6118
S3 6093

Nifty(May Fut)-Trading Strategy

H6 6233     Trgt 2
H5 6220     Trgt 1
H4 6208     Long breakout
H3 6193     Go Short
H2 6188
H1 6183
L1 6172
L2 6167
L3 6162     Long
L4 6147     Short Breakout
L5 6135     Trgt 1
L6 6122     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 17-05-2013

Bank Nifty(May Fut)-Levels

R3 13531
R2 13390
R1 13282
Avg 13141
S1 13033
S2 12892
S3 12784

Bank Nifty(May Fut)-Trading Strategy

H6 13427     Trgt 2
H5 13369     Trgt 1
H4 13311     Long breakout
H3 13243     Go Short
H2 13220
H1 13197
L1 13152
L2 13129
L3 13106     Long
L4 13038     Short Breakout
L5 12980     Trgt 1
L6 12922     Trgt 2

Pre-Closing Outlook-2(16-05-2013)

Whole day narrow range trading in Green with higher levels selling and lower levels supports today therefore sustaining beyond today actual trading range(6156-6186) will be next very short term term trend confirmation but down moves possibilities are more because good selling seen at higher levels today. 

Pre-Closing Outlook(16-05-2013)

As higher levels selling and lower levels supports seen today therefore sustaining beyond today actual trading range(6156-6186) and follow up moves tomorrow will decide next very short term term trend.

Mid-session Outlook(16-05-2013)

Although Green zone trading since opening today but intraday charts are showing selling patterns formations at higher levels.

Technical Analysis and Market Outlook(16-05-2013)

Nifty-Intra Day Chart (15-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day strong rally.
2- Higher levels narrow range trading between 6105-6125 with consolidation indications.
3- Whole day actual trading between 6031-6152
-

Conclusions from intra day chart analysis 

All trends are up and Whole day strong rally yesterday after RBI governor ststement that he has taken note of falling inflation, reinforcing bets about future rate cuts. Running Bullish rally is very much on and such types of rally runs fast despite overbought negative divergence showing indicators as well as correct after higher levels consolidations therefore until complete selling patterns will not form on EOD charts till then any deeper correction will not be considered. 

As strong up moves yesterday therefore some intraday corrections may be seen today but higher levels narrow range trading between 6105-6125 with consolidation indications yesterday therefore firstly sustaining beyond this range should be watched for the confirmations of:-

1- Rally continuation without any correction above 6125 or
2- Very short term correction below 6105 and until clear intraday selling patterns will not develop till then only such correction will be considered. .

FII & DII trading activity in Capital Market Segment on 15-May-2013

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 15-May-2013 4362.4 2715.45 1646.95

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 15-May-2013 1244.05 1991.16 -747.11

FII Trading Data in Derivatives Segment on 15-May-2013

Nifty Spot-Levels & Trading Strategy for 16-05-2013

Nifty Spot-Levels

R3 6335
R2 6246
R1 6196
Avg 6107
S1 6057
S2 5968
S3 5918

Nifty Spot-Trading Strategy

H6  6287    Trgt 2
H5  6255    Trgt 1
H4  6222    Long breakout
H3  6184    Go Short
H2  6171
H1  6158
L1  6133
L2  6120
L3  6107    Long
L4  6069    Short Breakout
L5  6036    Trgt 1
L6  6004    Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 16-05-2013

Nifty(May Fut)-Levels

R3 6352
R2 6260
R1 6210
Avg 6118
S1 6068
S2 5976
S3 5926

Nifty(May Fut)-Trading Strategy

H6 6306     Trgt 2
H5 6272     Trgt 1
H4 6239     Long breakout
H3 6200     Go Short
H2 6187
H1 6174
L1 6147
L2 6134
L3 6121    Long
L4 6082     Short Breakout
L5 6049     Trgt 1
L6 6015     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 16-05-2013

Bank Nifty(May Fut)-Levels

R3 13689
R2 13377
R1 13209
Avg 12897
S1 12729
S2 12417
S3 12249

Bank Nifty(May Fut)-Trading Strategy

H6 13539     Trgt 2
H5 13422     Trgt 1
H4 13306     Long breakout
H3 13174     Go Short
H2 13130
H1 13086
L1 12998
L2 12954
L3 12910     Long
L4 12778     Short Breakout
L5 12661     Trgt 1
L6 12544     Trgt 2

Mid-session Outlook(15-05-2013)

As sharp Correction on 11-05-2013 after previous week 5 sessions selling and intraday charts of yesterday also showed selling formations therefore correction was expected but RBI governor sparked rate cut hopes and rally seen in Bond and Stock markets. Although today rally is without previous sessions consolidations and on the other hand selling also in previous sessions but Bull markets consolidate at higher levels after such positive news flow therefore strong rally is being seen today.

Impulsive Wave-5 is on and correction will be possible only after complete selling patterns formations,let it happen then then correction will be considered otherwise rally will remain continued.