Although now trading near the highs of the day but today intraday charts are showing selling patterns formations and expected that correction will begin after completion of distribution within next 1/2 sessions.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Post-open Outlook(11-10-2013)
Global markets rally today after US markets blasting moves yesterday and Indian markets participation through strong gap up opening. As news based led market today therefore sustaining above yesterday highest(6031) is must for next rally because good selling seen yesterday.
Technical Analysis and Market Outlook(11-10-2013)
Nifty-Intra Day Chart (10-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- All up moves from lower levels in Bearish Rising Channel
2- Higher levels selling patterns formations.
3- Whole day actual trading between 5979-6031
Whole day sideways trading with Bearish Rising Channel formations and higher levels selling patterns formations also therefore emergence of distribution(selling) process. Although closing at higher levels of the day today but down moves possibilities turned alive after completion of distribution.
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| Just click on chart for its enlarged view |
1- All up moves from lower levels in Bearish Rising Channel
2- Higher levels selling patterns formations.
3- Whole day actual trading between 5979-6031
Conclusions from intra day chart analysis
Whole day sideways trading with Bearish Rising Channel formations and higher levels selling patterns formations also therefore emergence of distribution(selling) process. Although closing at higher levels of the day today but down moves possibilities turned alive after completion of distribution.
Nifty Spot-Levels & Trading Strategy for 11-10-2013
Nifty Spot-Levels
R3 6096
R2 6064
R1 6042
Avg 6010
S1 5988
S2 5956
S3 5934
Nifty Spot-Trading Strategy
H6 6074 Trgt 2
H5 6062 Trgt 1
H4 6049 Long breakout
H3 6034 Go Short
H2 6029
H1 6024
L1 6015
L2 6010
L3 6005 Long
L4 5990 Short Breakout
L5 5977 Trgt 1
L6 5965 Trgt 2
R3 6096
R2 6064
R1 6042
Avg 6010
S1 5988
S2 5956
S3 5934
Nifty Spot-Trading Strategy
H6 6074 Trgt 2
H5 6062 Trgt 1
H4 6049 Long breakout
H3 6034 Go Short
H2 6029
H1 6024
L1 6015
L2 6010
L3 6005 Long
L4 5990 Short Breakout
L5 5977 Trgt 1
L6 5965 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 11-10-2013
Nifty(Oct Fut)-Levels
R3 6154
R2 6113
R1 6086
Avg 6045
S1 6018
S2 5977
S3 5950
Nifty(Oct Fut)-Trading Strategy
H6 6127 Trgt 2
H5 6112 Trgt 1
H4 6096 Long breakout
H3 6077 Go Short
H2 6071
H1 6065
L1 6052
L2 6046
L3 6040 Long
L4 6021 Short Breakout
L5 6006 Trgt 1
L6 5990 Trgt 2
R3 6154
R2 6113
R1 6086
Avg 6045
S1 6018
S2 5977
S3 5950
Nifty(Oct Fut)-Trading Strategy
H6 6127 Trgt 2
H5 6112 Trgt 1
H4 6096 Long breakout
H3 6077 Go Short
H2 6071
H1 6065
L1 6052
L2 6046
L3 6040 Long
L4 6021 Short Breakout
L5 6006 Trgt 1
L6 5990 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 11-10-2013
Bank Nifty(Oct Fut)-Levels
R3 10636
R2 10537
R1 10450
Avg 10351
S1 10264
S2 10165
S3 10078
Bank Nifty(Oct Fut)-Trading Strategy
H6 10551 Trgt 2
H5 10508 Trgt 1
H4 10465 Long breakout
H3 10414 Go Short
H2 10397
H1 10380
L1 10345
L2 10328
L3 10311 Long
L4 10260 Short Breakout
L5 10217 Trgt 1
L6 10175. Trgt 2
R3 10636
R2 10537
R1 10450
Avg 10351
S1 10264
S2 10165
S3 10078
Bank Nifty(Oct Fut)-Trading Strategy
H6 10551 Trgt 2
H5 10508 Trgt 1
H4 10465 Long breakout
H3 10414 Go Short
H2 10397
H1 10380
L1 10345
L2 10328
L3 10311 Long
L4 10260 Short Breakout
L5 10217 Trgt 1
L6 10175. Trgt 2
Mid-session Outlook-2 (10-10-2013)
Whole day sideways trading with higher levels selling patterns formations.
Mid-session Outlook(10-10-2013)
Following lines were told in previous Outlook yesterday:-
1- we are expecting some intraday correction tomorrow
2- next moves confirmation through sustaining beyond 5981
Correction seen after higher levels selling between 6005-5019 and some recovery also seen after getting supports at 5979.80.
As both selling and support in first 3 hours today therefore firstly valid break out of 8980-6019 should be watched for next immediate moves confirmations.
1- we are expecting some intraday correction tomorrow
2- next moves confirmation through sustaining beyond 5981
Correction seen after higher levels selling between 6005-5019 and some recovery also seen after getting supports at 5979.80.
As both selling and support in first 3 hours today therefore firstly valid break out of 8980-6019 should be watched for next immediate moves confirmations.
Technical Analysis and Market Outlook(10-10-2013)
Nifty-Intra Day Chart (09-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Whole day up moves in Bearish Rising Channel.
2- Whole day actual trading between 5878-6015
Although gap down opening but closing at the highest level of the day with good 1.33% gains and closing above 20 sessions most time trading range(5737-5981) therefore emergence of next big up trend first indication but sustaining above 5981 is must for valid break out.
As Whole day up moves were in Bearish Rising Channel today therefore strong intraday up moves of today may be short covering rally and may fizzle out also.
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| Just click on chart for its enlarged view |
1- Whole day up moves in Bearish Rising Channel.
2- Whole day actual trading between 5878-6015
Conclusions from intra day chart analysis
Although gap down opening but closing at the highest level of the day with good 1.33% gains and closing above 20 sessions most time trading range(5737-5981) therefore emergence of next big up trend first indication but sustaining above 5981 is must for valid break out.
As Whole day up moves were in Bearish Rising Channel today therefore strong intraday up moves of today may be short covering rally and may fizzle out also.
Although whole sentiment is Bullish today but we are expecting some intraday correction tomorrow and telling for next moves confirmation through sustaining beyond 5981.
Nifty Spot-Levels & Trading Strategy for 10-10-2013
Nifty Spot-Levels
R3 6193
R2 6104
R1 6055
Avg 5966
S1 5917
S2 5828
S3 5779
Nifty Spot-Trading Strategy
H6 6148 Trgt 2
H5 6115 Trgt 1
H4 6082 Long breakout
H3 6044 Go Short
H2 6032
H1 6019
L1 5994
L2 5981
L3 5969 Long
L4 5931 Short Breakout
L5 5898 Trgt 1
L6 5865 Trgt 2
R3 6193
R2 6104
R1 6055
Avg 5966
S1 5917
S2 5828
S3 5779
Nifty Spot-Trading Strategy
H6 6148 Trgt 2
H5 6115 Trgt 1
H4 6082 Long breakout
H3 6044 Go Short
H2 6032
H1 6019
L1 5994
L2 5981
L3 5969 Long
L4 5931 Short Breakout
L5 5898 Trgt 1
L6 5865 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 10-10-2013
Nifty(Oct Fut)-Levels
R3 6253
R2 6155
R1 6101
Avg 6003
S1 5949
S2 5851
S3 5797
Nifty(Oct Fut)-Trading Strategy
H6 6203 Trgt 2
H5 6167 Trgt 1
H4 6131 Long breakout
H3 6089 Go Short
H2 6075
H1 6061
L1 6034
L2 6020
L3 6006 Long
L4 5964 Short Breakout
L5 5928 Trgt 1
L6 5892 Trgt 2
R3 6253
R2 6155
R1 6101
Avg 6003
S1 5949
S2 5851
S3 5797
Nifty(Oct Fut)-Trading Strategy
H6 6203 Trgt 2
H5 6167 Trgt 1
H4 6131 Long breakout
H3 6089 Go Short
H2 6075
H1 6061
L1 6034
L2 6020
L3 6006 Long
L4 5964 Short Breakout
L5 5928 Trgt 1
L6 5892 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 10-10-2013
Bank Nifty(Oct Fut)-Levels
R3 10967
R2 10694
R1 10547
Avg 10274
S1 10127
S2 9854
S3 9707
Bank Nifty(Oct Fut)-Trading Strategy
H6 10836 Trgt 2
H5 10733 Trgt 1
H4 10631 Long breakout
H3 10515 Go Short
H2 10477
H1 10438
L1 10361
L2 10323
L3 10284 Long
L4 10169 Short Breakout
L5 10066 Trgt 1
L6 9963 Trgt 2
R3 10967
R2 10694
R1 10547
Avg 10274
S1 10127
S2 9854
S3 9707
Bank Nifty(Oct Fut)-Trading Strategy
H6 10836 Trgt 2
H5 10733 Trgt 1
H4 10631 Long breakout
H3 10515 Go Short
H2 10477
H1 10438
L1 10361
L2 10323
L3 10284 Long
L4 10169 Short Breakout
L5 10066 Trgt 1
L6 9963 Trgt 2
Mid-session Outlook(09-10-2013)
Although Indian markets closed at the lowest of the day yesterday but down moves were in Bullish Falling channel with lower levels supports also therefore following line was told in both previous Outlooks yesterday:-
Huge gap down opening after most depressing global cues today but strong recovery from lower levels and now Nifty is trading 27 points up after 51 points down trading.
Only news based intraday volatility without too much technical positions formations will be understood at present. Some selling and buying seen in both previous sessions between 5826-5981 therefore sustaining beyond this range should be watched for next Long Term Trend first strong indication.
"rally continuation hopes are still alive"
Huge gap down opening after most depressing global cues today but strong recovery from lower levels and now Nifty is trading 27 points up after 51 points down trading.
Only news based intraday volatility without too much technical positions formations will be understood at present. Some selling and buying seen in both previous sessions between 5826-5981 therefore sustaining beyond this range should be watched for next Long Term Trend first strong indication.
Technical Analysis and Market Outlook(09-10-2013)
Nifty-Intra Day Chart (08-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5955-5981
2- Down moves in Bullish Falling channel
3- Multiple supports at lower levels.
4- Whole day actual trading between 5913-5981
Although strong gap up opening after MSF rate cut news but not sustaining at higher levels because selling between 5955-5981. As today down moves in Bullish Falling channel and supports at lower levels also therefore rally continuation hopes are still alive because lower levels good supports seen yesterday.
News based 2 volatile sessions with lower levels supports yesterday and closing near higher levels amid most depressing Global markets but on the contrary higher levels selling today and closing near lower levels after positive news of MSF rates cut. Last 2 sessions moves are clear from last 2 sessions following chart:-
Nifty-Intra Day Chart (Oct 07 & Oct 08,2013):-
News based 2 volatile sessions with lower levels supports yesterday and higher levels selling today therefore Nifty will trade within 2 sessions range(5826-5981) as well as prepare for valid break out 2 sessions range.
20 Sessions sideways market between 5701-6142 and both Long Term Trend decider 200 Day SMA and 200 Day EMA are lying within this range,it is confirm that sustaining beyond this range will give very big moves in Indian markets. As most time trading between 5737-5981 therefore its valid break out will be next big trend first indication.
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| Just click on chart for its enlarged view |
1- Selling between 5955-5981
2- Down moves in Bullish Falling channel
3- Multiple supports at lower levels.
4- Whole day actual trading between 5913-5981
Conclusions from intra day chart analysis
Although strong gap up opening after MSF rate cut news but not sustaining at higher levels because selling between 5955-5981. As today down moves in Bullish Falling channel and supports at lower levels also therefore rally continuation hopes are still alive because lower levels good supports seen yesterday.
News based 2 volatile sessions with lower levels supports yesterday and closing near higher levels amid most depressing Global markets but on the contrary higher levels selling today and closing near lower levels after positive news of MSF rates cut. Last 2 sessions moves are clear from last 2 sessions following chart:-
Nifty-Intra Day Chart (Oct 07 & Oct 08,2013):-
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| Just click on chart for its enlarged view |
20 Sessions sideways market between 5701-6142 and both Long Term Trend decider 200 Day SMA and 200 Day EMA are lying within this range,it is confirm that sustaining beyond this range will give very big moves in Indian markets. As most time trading between 5737-5981 therefore its valid break out will be next big trend first indication.
Nifty Spot-Levels & Trading Strategy for 09-10-2013
Nifty Spot-Levels
R3 6036
R2 6008
R1 5968
Avg 5940
S1 5900
S2 5872
S3 5832
Nifty Spot-Trading Strategy
H6 5996 Trgt 2
H5 5980 Trgt 1
H4 5965 Long breakout
H3 5946 Go Short
H2 5940
H1 5934
L1 5921
L2 5915
L3 5909 Long
L4 5890 Short Breakout
L5 5875 Trgt 1
L6 5859 Trgt 2
R3 6036
R2 6008
R1 5968
Avg 5940
S1 5900
S2 5872
S3 5832
Nifty Spot-Trading Strategy
H6 5996 Trgt 2
H5 5980 Trgt 1
H4 5965 Long breakout
H3 5946 Go Short
H2 5940
H1 5934
L1 5921
L2 5915
L3 5909 Long
L4 5890 Short Breakout
L5 5875 Trgt 1
L6 5859 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 09-10-2013
Nifty(Oct Fut)-Levels
R3 6082
R2 6051
R1 6005
Avg 5974
S1 5928
S2 5897
S3 5851
Nifty(Oct Fut)-Trading Strategy
H6 6036 Trgt 2
H5 6018 Trgt 1
H4 6001 Long breakout
H3 5980 Go Short
H2 5973
H1 5966
L1 5951
L2 5944
L3 5937 Long
L4 5916 Short Breakout
L5 5899 Trgt 1
L6 5881 Trgt 2
R3 6082
R2 6051
R1 6005
Avg 5974
S1 5928
S2 5897
S3 5851
Nifty(Oct Fut)-Trading Strategy
H6 6036 Trgt 2
H5 6018 Trgt 1
H4 6001 Long breakout
H3 5980 Go Short
H2 5973
H1 5966
L1 5951
L2 5944
L3 5937 Long
L4 5916 Short Breakout
L5 5899 Trgt 1
L6 5881 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 09-10-2013
Bank Nifty(Oct Fut)-Levels
R3 10814
R2 10672
R1 10434
Avg 10292
S1 10054
S2 9912
S3 9674
Bank Nifty(Oct Fut)-Trading Strategy
H6 10578 Trgt 2
H5 10492 Trgt 1
H4 10406 Long breakout
H3 10301 Go Short
H2 10266
H1 10231
L1 10162
L2 10127
L3 10092 Long
L4 9988 Short Breakout
L5 9901 Trgt 1
L6 9815 Trgt 2
R3 10814
R2 10672
R1 10434
Avg 10292
S1 10054
S2 9912
S3 9674
Bank Nifty(Oct Fut)-Trading Strategy
H6 10578 Trgt 2
H5 10492 Trgt 1
H4 10406 Long breakout
H3 10301 Go Short
H2 10266
H1 10231
L1 10162
L2 10127
L3 10092 Long
L4 9988 Short Breakout
L5 9901 Trgt 1
L6 9815 Trgt 2
Pre-closing Outlook(08-10-2013)
Although some selling at higher levels but today down moves are in Bullish Falling channel with lower levels supports above 5914 therefore rally continuation hopes are still alive despite loosing most intraday gains.
Mid-session Outlook-2(08-10-2013)
20 Sessions sideways market between 5701-6142 and both Long Term Trend decider 200 Day SMA and 200 Day EMA are lying within this range,it is confirm that sustaining beyond this range will give very big moves in Indian markets. As most time trading between 5737-5950 therefore its valid break out will be next trend first indication.
News based 2 volatile sessions with lower levels supports yesterday and higher levels selling today therefore Nifty will trade within 2 sessions range as well as prepare some more tome for valid break out 2 sessions range(5826-5981).
News based 2 volatile sessions with lower levels supports yesterday and higher levels selling today therefore Nifty will trade within 2 sessions range as well as prepare some more tome for valid break out 2 sessions range(5826-5981).
Mid-session Outlook(08-10-2013)
Although strong gap up opening after MSF rate cut news but not sustaining at higher levels and slipped below resistance(5950). Completely news led volatile markets because Indian markets strongly recovered from lower levels yesterday despite most depressing Global markets. As previous resistance was at 5950 and Nifty is hovering around it for the last 1 hour therefore sustaining beyond it should be firstly watched for Wave-3 beginning confirmations because lower levels buying yesterday and higher levels selling patterns also seen today.
Technical Analysis and Market Outlook(08-10-2013)
Nifty-Intra Day Chart (07-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Support between 5826-5850
2- Strong recovery after lower levels support.
2- Whole day actual trading between 5826-5910
As following depressing news flow therefore most time negaive zone traing after fast slipping immediately after opening:-
1- US Futures were in deep Red whole day.
2- All Asian markets closed in Ted after most time negative zone trading and some closed sufficiently down.
3- All European traded in Deep Red after gap down opening during Indian markets trading hour.
Sentiment was completely depressed whole day but strong recovery from lower levels despite higher levels some selling last Friday because following positive news was in the pipe line which came out after closing of yesterday market:-
(Just click above topic link for detailed news)
 |
| Just click on chart for its enlarged view |
1- Support between 5826-5850
2- Strong recovery after lower levels support.
2- Whole day actual trading between 5826-5910
Conclusions from intra day chart analysis
As following depressing news flow therefore most time negaive zone traing after fast slipping immediately after opening:-
1- US Futures were in deep Red whole day.
2- All Asian markets closed in Ted after most time negative zone trading and some closed sufficiently down.
3- All European traded in Deep Red after gap down opening during Indian markets trading hour.
Sentiment was completely depressed whole day but strong recovery from lower levels despite higher levels some selling last Friday because following positive news was in the pipe line which came out after closing of yesterday market:-
(Just click above topic link for detailed news)
As strength shown and strong recovery from lower levels amid most negative Global markets as well as good news yesterday therefore some up moves will be seen today. Next resistance is at 5950 and sustaining above it will mean high possibility of Wave-3 rally after completion of Wave-2 correction.
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