Bank Nifty(May Fut)-Levels & Trading Strategy for 30-05-2013

Bank Nifty(May Fut)-Levels

R3 13089
R2 12993
R1 12895
Avg 12799
S1 12701
S2 12605
S3 12507

Bank Nifty(May Fut)-Trading Strategy

H6 12992     Trgt 2
H5 12948     Trgt 1
H4 12903     Long breakout
H3 12850     Go Short
H2 12832
H1 12814
L1 12779
L2 12761
L3 12743     Long
L4 12690     Short Breakout
L5 12645     Trgt 1
L6 12601     Trgt 2

Pre-Closing Outlook(29-05-2013)

As down moves after 12:00 PM were not showing required force and it is a consolidation signal also therefore we clearly mentioned it in previous Outlook. Some selling indications yesterday and buying signals today and follow up clear intraday patterns are required for next trend and crossing next resistance(6130-6180) therefore repeating following line of previous Outlook:- 

"valid break out of 6056-6180 should be firstly watched for next trend confirmations"

Mid-session Outlook(29-05-2013)

Those down moves are being seen today which were clearly indicated many times yesterday and today at 06:27 AM. Firstly selling today but last more than one hour down moves are not showing required force therefore more follow up selling is required for more down moves below today lowest and valid break out of 6056-6180 should be firstly watched for next trend confirmations. 

Technical Analysis and Market Outlook(29-05-2013)

Nifty-Intra Day Chart (28-May-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising channel.
3- Whole day actual trading between 6056-6127

Conclusions from intra day chart analysis 

Continuous up moves after 11:00 AM amid blasting Global cues but without required force and Indian markets under performed Global cues whole day therefore good selling can not be ruled yesterday and until Nifty will not sustain above yesterday highest(6127) till then decisive rally will not be considered. It should also be kept in mind that next resistances are lying between 6130-6180 and complete consolidation is required for crossing and sustaining above 6180.

For next trend confirmations valid break out of 6056-6180 should be firstly watched in the coming sessions and It should also be kept in mind that follow up selling and once slipping below 6056 will mean steep fall also.

Pre-open Outlook(29-05-2013)

Sentiment is bullish today morning after strong closing of US and European markets yesterday therefore Asian markets are trading with good gains today morning and positive opening will be seen in Indian markets also but view is still not Bullish and follow up moves with valid break out of above mentioned ranges will be firstly watched today for next trend confirmations.

Indian Stock Markets Closing Reports(28-May-2013)

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.14
Total Options Put Call Ratio: 1.10
Nifty P/E Ratio(28-May-2013): 18.12

Advances & Declines

BSE Advances : 1,204
BSE Declines : 1,151
NSE Advances :   736
NSE Declines :   684

Nifty Open Interest Changed Today

Nifty- 5800  CE(May)- -13,300(-1.12%)
Nifty- 5800  PE(May)- -223,600(-3.41%)

Nifty- 5900  CE(May)- -281,200(-12.78%)
Nifty- 5900  PE(May)-  150,050(2.06%)

Nifty- 6000  CE(May)- -2,024,550(-37.70%)
Nifty- 6000  PE(May)- -80,800(-1.02%)

Nifty- 6100  CE(May)- -1,173,000(-14.02%)
Nifty- 6100  PE(May)-  1,197,650(27.36%)

Nifty- 6200  CE(May)-  1,152,500(20.12%)
Nifty- 6200  PE(May)- -950(-0.06%)

Closing 

Sensex- closed at 20,160.82(130.05 Points & 0.65%)
Nifty- closed at 6,111.25(28.10 Points & 0.46%)
CNX Midcap - closed at 7,959.15(44.35 Points & 0.56%)
CNX Smallcap- closed at 3,254.55(22.45 Points & 0.69%)

Nifty Spot-Levels & Trading Strategy for 29-05-2013

Nifty Spot-Levels

R3 6212
R2 6169
R1 6140
Avg 6097
S1 6068
S2 6025
S3 5996

Nifty Spot-Trading Strategy

H6 6183     Trgt 2
H5 6167     Trgt 1
H4 6150     Long breakout
H3 6130     Go Short
H2 6124
H1 6117
L1 6104
L2 6097
L3 6091     Long
L4 6071     Short Breakout
L5 6054     Trgt 1
L6 6038     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 29-05-2013

Nifty(May Fut)-Levels

R3 6220
R2 6173
R1 6141
Avg 6094
S1 6062
S2 6015
S3 5983

Nifty(May Fut)-Trading Strategy

H6 6188     Trgt 2
H5 6170     Trgt 1
H4 6152     Long breakout
H3 6130     Go Short
H2 6123
H1 6116
L1 6101
L2 6094
L3 6087     Long
L4 6065     Short Breakout
L5 6047     Trgt 1
L6 6029     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 29-05-2013

Bank Nifty(May Fut)-Levels

R3 13136
R2 13057
R1 12978
Avg 12899
S1 12820
S2 12741
S3 12662

Bank Nifty(May Fut)-Trading Strategy

H6 13057     Trgt 2
H5 13021     Trgt 1
H4 12985     Long breakout
H3 12942     Go Short
H2 12927
H1 12913
L1 12884
L2 12870
L3 12855     Long
L4 12812     Short Breakout
L5 12776     Trgt 1
L6 12740     Trgt 2

Pre-Closing Outlook(28-05-2013)

Following line was told today at 07:50 AM:-

Sustaining beyond 6130 should be firstly watched today for next signal of impulsive Wave-B continuation/completion.

Today highest is at 6127.65

Although good recovery from lower levels and blasting Global cues at this moment but our view is not Bullish because Indian markets are completely under performing Global cues and sustaining beyond today trading range(6056-6127) will be firstly watched tomorrow for the confirmation of  impulsive Wave-B continuation/completion. 

Mid-session Outlook(28-05-2013)

Although Dow's Futures is more than 100 points up and European markets are trading strong after gap up opening as well as most Asian markets are showing good gains but Indian markets have not shown as much strength and trading with small gains therefore view is cautious and should be Bullish after valid break out of next resistance range(6130-6180). It should also be kept in mind that once slipping below today lowest(6056) will mean steep fall because Indian markets are completely under performing Global cues today. 

Technical Analysis and Market Outlook(28-05-2013)

Nifty-Intra Day Chart (May 23 to May 27,2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 3 Sessions intraday charts

1- Consolidation between 5936-6008 on 23-05-2013 and 24-05-2013.
2- More than 5 hours sideways trading between 6010-6034 with mixed patterns(means selling also) formations on 27-05-2013.
3- Sharp up moves in last hour on 27-05-2013.
4- 3 Sessions most time trading between 5936-6040.
5- 3 Sessions actual trading between 5936-6099.

Conclusions from 3 Sessions intra day chart analysis 

As lower levels good consolidations on 23-05-2013 and 24-05-2013 therefore corrective Wave-A completion and impulsive Wave-B continuation. Following crucial retracement levels have not been tested yet after crossing of 38.2% yesterday:-

1- 50.0%- 6117
2- 61.8%- 6143

Next strong resistances are between 6130-6180 and sustaining beyond this range will decide the fate of on going impulsive Wave-B. Although strong up moves yesterday but more than 5 hours sideways trading between 6010-6034 with mixed patterns(means selling also) yesterday therefore follow up moves today sustaining beyond mentioned strong resistances should be firstly watched in the coming sessions for:-

1- High possibility of correction completion after sustaining above 6180
2- Corrective Wave-c continuation after after sustaining below 6130 for down moves below 5935.

Pre-open Outlook(28-05-2013)

Most Asian markets are in Green and Dow's Futures is trading more than 50 points up therefore sentiment is good today morning and positive zone trading will be firstly seen today. Sustaining beyond 6130 should be firstly watched today for next signal of impulsive Wave-B continuation/completion.

FII Trading Data in Derivatives Segment on 27-May-2013

FII & DII trading activity in Capital Market Segment on 27-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 27-May-2013 2525.75 2119.72 406.03

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 27-May-2013 696.51 1212.9 -516.39

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)