Nifty Spot-Levels & Trading Strategy for 28-05-2013

Nifty Spot-Levels

R3 6253
R2 6176
R1 6129
Avg 6052
S1 6005
S2 5928
S3 5881

Nifty Spot-Trading Strategy

H6 6209     Trgt 2
H5 6180     Trgt 1
H4 6151     Long breakout
H3 6117     Go Short
H2 6105
H1 6094
L1 6071
L2 6060
L3 6048     Long
L4 6014     Short Breakout
L5 5985     Trgt 1
L6 5956     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 28-05-2013

Nifty(May Fut)-Levels

R3 6259
R2 6179
R1 6131
Avg 6051
S1 6003
S2 5923
S3 5875

Nifty(May Fut)-Trading Strategy

H6 6213     Trgt 2
H5 6183     Trgt 1
H4 6153     Long breakout
H3 6118     Go Short
H2 6106
H1 6094
L1 6071
L2 6059
L3 6047     Long
L4 6012     Short Breakout
L5 5982     Trgt 1
L6 5952     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 28-05-2013

Bank Nifty(May Fut)-Levels

R3 13307
R2 13135
R1 13022
Avg 12850
S1 12737
S2 12565
S3 12452

Bank Nifty(May Fut)-Trading Strategy

H6 13200     Trgt 2
H5 13133     Trgt 1
H4 13066     Long breakout
H3 12988     Go Short
H2 12962
H1 12936
L1 12883
L2 12857
L3 12831     Long
L4 12753     Short Breakout
L5 12686     Trgt 1
L6 12619     Trgt 2

Pre-Closing Outlook(27-05-2013)

Following lines were told today at 08:49:00 AM:-

strong signals of impulsive Wave-B commencement and following levels should also be watched for its completion after confirmations of sustaining above 5935:-

1- 38.2%- 6047
2- 50.0%- 6117
3- 61.8%- 6143

Fresh selling near about above levels will mean strong possibility of corrective Wave-C toward new bottom below 5935. 

Impulsive Wave-B continuation as per expectations today and completion of 38.2% retracement as well. corrective Wave-C possibility is still alive for down moves below 5935 and above mentioned both 50.0%(6117) and 61.8%(6143) should be firstly watched tomorrow.  

Let fresh selling develop near about above levels tomorrow then corrective Wave-C toward new bottom below 5935 will be considered. 

Mid-session Outlook(27-05-2013)

Firstly good up moves immediately after opening but market turning sideways between 6010-6034 with mixed charts patterns therefore valid break out of this range should be watched for the fate of Wave-B up moves. As selling patterns at higher levels also today therefore view is cautious

We challenge that such "high quality and accurate analysis of  intraday Charts" will not be available in any other Website and Business News Channel in whole India which we are updating for the last more than 3 years

Live Proofs of our Accurate Predictions

Although most Asian markets are flat and Nikkei-225(Japan) was more than 2% down today morning but we told following lines today at 08:49:00 AM

1- fresh up moves are expected today
2- Impulsive Wave-B above 6008(strong possibility of this move)

We told following line on 24-05-2013 in Pre-Closing Outlook-2:-

strong indications of rally continuation in next week

Nifty traded more than 43 points up immediately after opening today with today high formation at 6026.25

'ABC' Correction Continuation after new Top of Rally at 6229.45

Technical Analysis,Research & Weekly Outlook

(May 27 to May 31,2013)

Nifty-EOD Chart (24-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 4531.15 on 20-12-2011(Wave-i of Wave-5 beginning)
2- Wave-i(5629.95 on 22-02-2012)
3- Wave-ii(4770.35 on 04-06-2012)
4- Wave-iii(6111.80 on 29-01-2013)
5- Wave-iv(5477.20 on 10-04-2013) 
6- Wave-v of Wave-5(recent top formation at 6229.45 on 20-05-2013)
7- Corrective Wave-A of 'ABC' correction beginning

Conclusions from EOD chart analysis 

Long and Intermediate Term trends are up and Short Term Trend turned down after Wave-v of Wave-5 top formation at 6229.45 on 20-05-2013. 'ABC' correction is on after 752.25 points strong rally in 27 sessions from 10-04-2013 and its recent bottom formation at 5936.90 on 24-05-2013. 

Nifty-Intra Day Chart (24-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 5936-5967
2- Last more than 4 hours trading between 5966-6006 with mixed patterns formations
3- Bullish Flag pattern formations in last 3 hours
4- Whole day actual trading between 5936-6006

Conclusions from intra day chart analysis 

Last more than 4 hours trading between 5966-6006 with mixed patterns formations after lower levels supports but Bullish Flag pattern formations in last 3 hours also within it therefore strong indications of up moves in the beginning of next week.

Conclusions (After Putting All Studies Together)

'ABC' correction continuation in previous week after new top formation of on going rally at 6229.45 and completion of 38.2%(5941) retracement also. As 38.2% lies between strong supports range(5935-5960) therefore its importance was updated many times in previous week and Nifty made bottom formation at 5936.80 on 24-05-2013 also therefore sustaining above it should be firstly watched in next week for the beginning of impulsive Wave-B after completion of corrective Wave-A in previous week.

As lower levels supports last Friday within crucial strong supports range(5935-5960) therefore expectations of firstly up moves but good resistances below 6229 therefore broader trading range of Nifty is 5935-6229. Although confirmation are required but strong signals of impulsive Wave-B commencement and following levels should also be watched for its completion after confirmations of sustaining above 5935:-

1- 38.2%- 6047
2- 50.o%- 6117
3- 61.8%- 6143

Fresh selling near about above levels will mean strong possibility of corrective Wave-C toward new bottom below 5935. 

'ABC' correction is very much on and above mentioned expected moves.levels and possibilities should always be kept in mind in whole next week.

Pre-open Outlook(27-05-2013)

As some Asian markets are in Red and some are in Green today after flat closing of US markets last Friday therefore sentiment is quiet today morning and flat opening is expected today morning. As Bullish Rising Wedge formations was seen  between 5955-6008 on 23-05-2013 and support between 5936-5967 on 24-05-2013 therefore finally fresh up moves are expected today and valid break out 5936-6008 should also be firstly watched in the beginning of next week for:-

1- Impulsive Wave-B above 6008(strong possibility of this move)
2- Corrective Wave-c below 5936(but complete fresh selling is firstly required)

Weekly Analysis will be updated within 3 hours today

FII Trading Data in Derivatives Segment on 24-May-2013

FII & DII trading activity in Capital Market Segment on 24-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 24-May-2013 2337.08 2575.64 -238.56

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 24-May-2013 1080.3 1213.09 -132.79

Indian Stock Markets Closing Reports(24-May-2013)

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.11
Total Options Put Call Ratio: 1.06
Nifty P/E Ratio(24-May-2013):17.71

Advances & Declines

BSE Advances : 1,193
BSE Declines : 1,096
NSE Advances :   750
NSE Declines :   628

Nifty Open Interest Changed Today

Nifty- 5800  CE(May)- -76,850(-5.84%)
Nifty- 5800  PE(May)-  358,050(5.29%)

Nifty- 5900  CE(May)-  87,300(2.92%)
Nifty- 5900  PE(May)-  836,850(11.52%)

Nifty- 6000  CE(May)-  914,650(15.60%)
Nifty- 6000  PE(May)-  573,250(10.64%)

Nifty- 6100  CE(May)-  965,800(13.89%)
Nifty- 6100  PE(May)- -766,450(-24.62%)

Nifty- 6200  CE(May)- -614,200(-10.00%)
Nifty- 6200  PE(May)- -365,750(-20.22%)

Closing 

Sensex- closed at 19,704.33(30.00 Points & 0.15%)
Nifty- closed at 5,983.55(16.50 Points & 0.28%)
CNX Midcap - closed at 7,820.20(18.15 Points & 0.23%)
CNX Smallcap- closed at 3,201.00(16.20 Points & 0.51%)

Nifty Spot-Levels & Trading Strategy for 27-05-2013

Nifty Spot-Levels

R3 6099
R2 6057
R1 6020
Avg 5978
S1 5941
S2 5899
S3 5862

Nifty Spot-Trading Strategy

H6 6062     Trgt 2
H5 6044     Trgt 1
H4 6026     Long breakout
H3 6004     Go Short
H2 5997
H1 5990
L1 5975
L2 5968
L3 5961     Long
L4 5939     Short Breakout
L5 5921     Trgt 1
L6 5903     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 27-05-2013

Nifty(May Fut)-Levels

R3 6093
R2 6052
R1 6018
Avg 5977
S1 5943
S2 5902
S3 5868

Nifty(May Fut)-Trading Strategy

H6 6060     Trgt 2
H5 6043     Trgt 1
H4 6026     Long breakout
H3 6005     Go Short
H2 5998
H1 5991
L1 5978
L2 5971
L3 5964     Long
L4 5943     Short Breakout
L5 5926     Trgt 1
L6 5909     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 27-05-2013

Bank Nifty(May Fut)-Levels

R3 13084
R2 12930
R1 12818
Avg 12664
S1 12552
S2 12398
S3 12286

Bank Nifty(May Fut)-Trading Strategy

H6  12976    Trgt 2
H5  12914    Trgt 1
H4  12852    Long breakout
H3  12779    Go Short
H2  12754
H1  12730
L1  12681
L2  12657
L3  12632    Long
L4  12559    Short Breakout
L5  12497    Trgt 1
L6  12435    Trgt 2

Nifty Spot-Weekly Levels & Trading Strategy(May 27 to May 31,2013)

Nifty Spot-Weekly Levels

R3 6455
R2 6342
R1 6162
Avg 6049
S1 5869
S2 5756
S3 5576

Nifty Spot-Weekly Trading Strategy 

H6 6278     Trgt 2
H5 6211     Trgt 1
H4 6144     Long breakout
H3 6063     Go Short
H2 6036
H1 6009
L1 5956
L2 5929
L3 5902     Long
L4 5821     Short Breakout
L5 5754    Trgt 1
L6 5687     Trgt 2

Bank Nifty Spot-Weekly Levels & Trading Strategy(May 27 to May 31,2013)

Bank Nifty Spot-Weekly Levels

R3 14093
R2 13753
R1 13261
Avg 12921
S1 12429
S2 12089
S3 11597

Bank Nifty Spot-Weekly Trading Strategy 

H6 13613     Trgt 2
H5 13419     Trgt 1
H4 13226    Long breakout
H3 12997    Go Short
H2 12921
H1 12845
L1 12692
L2 12616
L3 12540     Long
L4 12311     Short Breakout
L5 12118     Trgt 1
L6 11924     Trgt 2

Pre-Closing Outlook-2(24-05-2013)

Although last more than 4 hours trading above 5960 between 5966-6006 with intraday mixed patterns formations today but strong indications of rally continuation in next week after today correction completion also because more indications of consolidation patterns formations today.

Pre-Closing Outlook(24-05-2013)

Today is 5th session of correction after previous 27 sessions rally and also completion of 38.2% retracement(5941) today. As 38.2% retracement level lies between next strong support range(5935-5960) therefore this range become most crucial and Nifty again got support within this range today. Last more than 4 hours trading above 5960 between 5966-6006 with intraday mixed patterns formations today therefore valid break out of following ranges should be firstly watched in next week for next trend confirmation:-

1- 5966-6006(1st indication)
2- 5935-6006(correction continuation or completion confirmations)

Mid-session Outlook-2(24-05-2013)

As 38.2% Retracement level lies between next strong support range(5935-5960) therefore this range become most crucial and Nifty again got support within this range today as well as trading above 5960 for the last 2 hours with consolidation signals. Sustaining above 5960 will be strong indication of Pull Back Rally and should be firstly watched now.

Mid-session Outlook(24-05-2013)

Live Proofs of our Levels Accuracy

Following Next strong supports range was updated today in Technical Analysis and Market Outlook and yesterday in Mid-session Outlook:-

Next strong supports- 5935-5960

Nifty recovered more 50 points from 5936.80 and now trading above 5987

As Bullish Rising Wedge formations yesterday therefore our view was not bearish today despite more than 75 points down immediately after opening. Pull Back Rally beginning possibility was also told in previous Outlook today and now more than 50 points recovered from lower levels.

Sustaining above 6008 will be the confirmation of minimum a strong Pull Back Rally therefore should be firstly watched now.