Technical Analysis and Market Outlook(25-04-2014)

Nifty-Intra Day Chart (23-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6841-6861
2- Strong recovery after new intraday lowest formations
3- Whole day actual trading between 6821-6861

Conclusions from intra day chart analysis 

All trends are up and Indian markets are highly Bullish therefore consolidating at higher levels without giving deeper correction. Although good selling seen in previous sessions but market recovered from lower levels in last minutes without giving deeper correction despite higher levels selling today.

Impulsive Wave-iii of Wave-3 continuation and its continuation will be considered until complete selling patterns will not develop. Indian Stock markets are discounting Modi factor and expectations are at peak all around therefore cautious approach is required because euphoria is being developed and markets are moving up under most Bullish sentiments. 

FII & DII trading activity in Capital Market Segment on 23-Apr-2014

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 23-Apr-2014 5607.62 4840.01 767.61

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 23-Apr-2014 1732.51 2266.39 -533.88

Indian Stock Markets Closing Reports(23-Apr-2014)

Main features of today trading are as follows

Ratios

Index Options Put Call Ratio: 1.03
Total Options Put Call Ratio: 0.99
Nifty P/E Ratio(23-Apr-2014): 19.20
Nifty P/B Ratio(23-Apr-2014): 3.30
Dividend Yield (23-Apr-2014): 1.34

Advances & Declines

BSE Advances : 1,428
BSE Declines : 1,372
NSE Advances :   783
NSE Declines :   748

Nifty Open Interest Changed Today

Nifty- 6700  CE(May)- -9,150(-1.17%)
Nifty- 6700  PE(May)-  148,350(15.37%)

Nifty- 6800  CE(May)- 41,250(2.65%)
Nifty- 6800  PE(May)- 471,350(%)

Nifty- 6900  CE(May)- 623,800(52.95%)
Nifty- 6900  PE(May)- 305,150(47.44%)

Nifty- 7000  CE(May)- 484,000(23.35%)
Nifty- 7000  PE(May)- 113,100(19.17%)


Closing 

Sensex- closed at 22,876.54(118.17 Points & 0.52%)
Nifty- closed at 6,840.80(25.45 Points & 0.37%)
CNX Midcap - closed at 8,902.20(-1.60 Points & -0.02%)
CNX Smallcap- closed at 3,999.35(6.55 Points & 0.16%)

Nifty Spot-Levels & Trading Strategy for 25-04-2014

Nifty Spot-Levels

R3 6901
R2 6881
R1 6860
Avg 6840
S1 6819
S2 6799
S3 6778

Nifty Spot-Trading Strategy

H6 6881     Trgt 2
H5 6871     Trgt 1
H4 6862     Long breakout
H3 6851     Go Short
H2 6847
H1 6843
L1 6836
L2 6832
L3 6828     Long
L4 6817     Short Breakout
L5 6808     Trgt 1
L6 6798     Trgt 2

Nifty(May Fut)-Levels & Trading Strategy for 25-04-2014

Nifty(May Fut)-Levels

R3 6953
R2 6931
R1 6915
Avg 6893
S1 6877
S2 6855
S3 6839

Nifty(May Fut)-Trading Strategy

H6 6937     Trgt 2
H5 6928     Trgt 1
H4 6919     Long breakout
H3 6909     Go Short
H2 6905
H1 6902
L1 6895
L2 6892
L3 6888     Long
L4 6878     Short Breakout
L5 6869     Trgt 1
L6 6860     Trgt 2

Bank Nifty(May Fut)-Levels & Trading Strategy for 25-04-2014

Bank Nifty(May Fut)-Levels

R3 13565
R2 13421
R1 13327
Avg 13183
S1 13089
S2 12945
S3 12851

Bank Nifty(May Fut)-Trading Strategy

H6 13475     Trgt 2
H5 13420     Trgt 1
H4 13364     Long breakout
H3 13299     Go Short
H2 13277
H1 13255
L1 13212
L2 13190
L3 13168     Long
L4 13103     Short Breakout
L5 13047     Trgt 1
L6 12992     Trgt 2

Mid-session Outlook(23-04-2014)

As good selling in previous sessions therefore very Short Term correction was expected but Indian markets are showing extreme strength today. Although continuous recovery since opening but very Short Term correction is very much due and still expected.

Technical Analysis and Market Outlook(23-04-2014)

Nifty-Intra Day Chart (22-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6821-6838
2- Whole day actual trading between 6807-6838

Conclusions from intra day chart analysis 

Following lines were told in previous Outlooks:-

1- At 11:44 AM in Mid-session Outlook(22-04-2014):- "today intraday charts are showing selling patterns"
2- At 02:58 PM in Pre-closing(21-04-2014):- "confirmation through sustaining above 6819 is required for strong rally in new zone"
3- In Technical Analysis and Market Outlook(22-04-2014):- "some selling also seen below 6825 therefore sustaining above it is must for next strong rally and should be firstly watched tomorrow" 

Selling was seen yesterday and follow up good selling was seen today also therefore it was updated at 11:44 AM when Nifty was trading near higher levels of the day. As good selling was seen today therefore expected that Nifty will slip below today lowest and very Short term correction is expected tomorrow with April expiry possibility near or below 6750 despite Dow Jones is now trading 100 points up.

Pre-closing Outlook(22-04-2014)

Although most time positive zone trading and European markets are also .65% to !.05% up at this moment but today intraday are showing selling pattern formations therefore down moves are expected below today lowest(6808).

Mid-session Outlook(22-04-2014)

Whole day positive zone trading after Green opening and new all time high formation as well but today intraday charts are showing selling patterns.

Technical Analysis and Market Outlook(22-04-2014)

Nifty-Intra Day Chart (21-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6787-6798
2- 5 Hours sideways trading between 6787-6806
3- Up moves without required force
4- Not sustaining above previous top(6819)
5- Whole day actual trading between 6787-6825

Conclusions from intra day chart analysis 

Firstly 5 hours sideways trading between 6787-6806 with lower levels consolidation between 6787-6798 and after that range broken out but without required force therefore Nifty could not sustain at higher levels.

Last 7 sessions actual trading between 6651-6819 with higher levels selling between 6806-6819 therefore it is must to sustain above 6819 for fresh strong rally therefore following line was told at 02:58 PM in Pre-closing Outlook when Nifty was trading at 6823:-

confirmation through sustaining above 6819 is required for strong rally in new zone.

As up moves without required force therefore Nifty could not sustain at higher levels and slipped toward 5810.75 in last minutes. Although Nifty closed at all time high today but some selling also seen below 6825 therefore sustaining above it is must for next strong rally and should be firstly watched tomorrow.

Pre-closing Outlook(21-04-2014)

Nifty cleared last resistance range(6806-6819) after 5 hours follow up consolidation between 6787-6806 but not forcefully therefore confirmation through sustaining above 6819 is required for strong rally in new zone.

Mid-session Outlook(21-04-2014)

First 2 hours 18 points sideways trading between 6788-6806 today and technical positions just below and just above it are as follows:-

1- Selling between 6806-6819 on 10-04-2014 
2- Mixed Patterns between 6762-6783 on 17-04-2014

Certainly Nifty is preparing for next big moves today and valid break out of 6762-6819 will be its confirmation.

Technical Analysis,Research & Weekly Outlook(Apr 21 to Apr 25,2014)

Nifty-EOD Chart (17-Apr-2014):-

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Technical Patterns and Formations in EOD charts

1- Wave-iii of Wave-3 beginning(5933.30 on 04-02-2014) 
2- 5th Wave continuation with all time high formation at 6819.05 on 10-04-2014
3- Last 7 Sessions trading between 6651-6819

Conclusions from EOD chart analysis 

Wave-iii of Wave-3 is on with its 5th wave highest formation at 6819.05 and last 7 sessions range bound trading between 6651-6819. 

Nifty-Intra Day Chart (Apr 07 to Apr 17,2014):-

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Technical Patterns and Formations in last 7 Sessions intraday charts

1- Selling between 6806-6819 on 10-04-2014
2- Consolidation between 6651-6671 on 07-04-2014
3- consolidation between 6706-6732 on 09-04-2014
4- Consolidation between 6720-6740 on 17-04-2014
5- Mixed Patterns between 6762-6783 on 17-04-2014
6- 7 Sessions actual trading between 6651-6819

Conclusions from 7 Sessions intra day chart analysis 

7 Sessions actual trading between 6651-6819 with lower levels good supports and now last resistances are between 6806-6819 therefore follow up consolidation is firstly required for fresh rally above 6819. As strong supports emerged at lower levels in last 7 sessions therefore complete selling is required for any decisive down moves below the lowest the lowest of last 7 sessions(6651) 

Nifty-Intra Day Chart (17-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6685-6699
2- Follow up consolidation between 6720-6740
3- Mixed Patterns between 6762-6783
4- Whole day actual trading between 6685-6783

Conclusions from intra day chart analysis 

Strong 99 points rally after lower levels consolidation and follow up consolidation as well between 6720-6740 and confirmation of Short term correction completion. As mixed patterns formations between 6762-6783 in last 2 hours therefore follow up consolidation is firstly required for decisive up moves and sustaioning above the highest of the day(6783)

Conclusions (After Putting All Studies Together)

All trends are up and impulsive Wave-iii of Wave-3 continuation but oscillators are showing negative divergence in overbought zone therefore correction is very much due. Indian markets are highly Bullish and many times such markets correct time wise in side ways moves and not price wise. As last 7 sessions were range bound therefore time wise correction possibility can not be ruled out. 

Strong supports developed at lower levels and selling was also seen in last 7 sessions between 6651-6819 as well as weekly Bearish Hanging Man Candle formation in previous week therefore expected that Indian markets will firstly remain sideways between 6651-6819 in the beginning of next week and sustaining beyond this range will decide the length and life of ongoing correction. 

Next moves beyond 6651-6819 will be as follows:-

1- Sustaining above 6819 will mean strong rally after Short Term Correction completion 
2- Sustaining below 6651 will mean correction of whole that up move which started from 5933.30.

Pre-closing Outlook(17-04-2014)

Following lines were told today:-

1- At 09:34 AM in Post-open Outlook- if Nifty sustain above 6703 then it will be first signal of some up moves and Indian markets turning into range bound mode between 6651-6819.
2- At 10:37 AM in Mid-session Outlook- consolidation also seen between 6685-6700 today therefore previous supports strengthened and strong signals of fresh up moves

Strong 99 points up moves from lower levels of today after Short term correction completion and next resistances are between 6806-6819 therefore only sustaining above 6819 has to be watched in next week for strong rally and new historical highs formations. 

Mid-session Outlook(17-04-2014)

Next support range was between 6651-6671 and it was tested yesterday but consolidation also seen between 6685-6700 today therefore previous supports strengthened and strong signals of fresh up moves. Now Indian markets will be understood range bound between 6651-6819 and fresh rally with new highs formations after correction completion will be considered after sustaining above some higher levels resistances.

Post-open Outlook(17-04-2014)

As US markets closed with good gains yesterday therefore sentiment is good and positive opening in Indian markets. Follow up selling was seen between 5692-6703 yesterday and first 15 minutes most time trading between this range today. As very Short Term indicators are oversold therefore if Nifty sustain above 6703 then it will be first signal of some up moves and Indian markets turning into range bound mode between 6651-6819.

Next immediate moves confirmation first signal will be valid break out of 5692-6703 today

Technical Analysis and Market Outlook(17-04-2014)

Nifty-Intra Day Chart (16-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 5738-6765
2- Follow up selling between 5692-6703
3- Whole day actual trading between 6665-6748

Conclusions from intra day chart analysis 

Firstly higher levels selling and after that follow up selling as well as testing of next support range(6651-6671) today. Long and Intermediate Trends are up,Short Term Trend turned down and correction continuation. Last hope for Bulls is 6651 and once sustaining below 6651 will mean sharp fall because next supports are at much lower levels near 6500. 

Pre-closing Outlook(16-04-2014)

Support at 6706 broken down forcefully after higher levels selling between 6724.65-6748.65 and down moves seen towards next supports range(6651-6671). Short Term correction is on and much deeper correction will be seen below 6651 but follow up selling is must for sustaining below 6651 because good supports are lying between 6651-6671.

Mid-session Outlook(16-04-2014)

Following line with levels was updated in last 3 Outlooks:-

Valid break out of 6706-6748 will be next immediate moves confirmation 

As Nifty traded between 6724.65-6748.65 today with some consolidation and selling therefore only  sustaining beyond 6706-6748 should watched watched for next immediate trend confirmations.

Post-open Outlook(16-04-2014)

As selling indications with Bearish Engulfing Candle formation therefore flat Indian markets despite good Global cues. Some indications of consolidation also developed in first hour of trading today therefore correction completion will also be considered because today and yesterday trading is seen within next support range(6706-6732).

Valid break out of 6706-6748 will be next immediate moves confirmation and should be firstly watched.