Pre-Open Market Outlook(06-04-2011)

Technical Positions,today Outlook and next possibilities have already been posted in following topic with 2 Charts in my Blog yesterday therefore not being repeated today:-

"Post-closing Report(05-04-2011) & Tomorrow Outlook"

As Nifty achieved 5911(told on 25-03-2011) target and Nifty was facing resistance at falling trend line therefore 4 intraday outlooks were posted in my blog yesterday and clearly told for base formations(5857-5870) and after that last hours up move begun yesterday. Mentioned base formations range is today first support.

Nifty next move confirmation range is 5855-5940 and Nifty will prepare for next moves within range first. Trading patterns were mixed yesterday and markets require clear formations for decisive break out for following moves:-

1- Crossing 5940 will mean fast rally toward 6120
2- Dipping below 5855 will mean deeper correction.

Let market prepare then next immediate next moves will be decided from intraday charts analysis of coming sessions.

Post-closing Report(05-04-2011) & Tomorrow Outlook

Market is as follows after today closing;-

Intraday correction and recovery from lower levels seen today. Most Indices patterns and  most pivotal stocks are showing consolidations but some stocks intraday patterns showed selling formations also today.

Nifty trading range- 5857-5920
Nifty Candle- Bullish Hammer
Nifty Support and Base formation between- 5857-5870 
Nifty Intra day trading patterns- Consolidation

Put Call Ratio : 1.06

Advances & Declines:

NSE ADVANCES : 987
NSE DECLINES : 436
BSE ADVANCES : 1998
BSE DECLINES : 944

Nifty Open Interest Changed Today:

Nifty- 5800 CE(28APR2011)- +503550(+13.09%)
Nifty- 5800 PE(28APR2011)- +689600(+15.38%)

Nifty- 5900 CE(28APR2011)- +1774750(+58.56%)
Nifty- 5900 PE(28APR2011)- +171250 (+6.47%)

Closing :-

Nifty- closed at 5,910.05(+1.60 Points & +0.03%)
Sensex- closed at 19,686.82(-14.91 Points & -0.08% )
CNX MIDCAP - closed at 8,306.00(+79.30 Points & +0.96%)
BSE SMALL CAP- closed at 8,712.92(+118.23 Points & +1.38%)

Nifty Intra Day Chart of Today:-

Just click on chart for its enlarged view

Tomorrow(06-04-2011) Outlook

As base formation between 5857-5870 today therefore this range is first support and next immediate resistance is Falling Trend line(shown in EOD chart),after this next resistance range is 6120-6180. 5911 was technical target and that has been achieved and after crossing falling trend line fast blasting rally will be seen.

2-EOD chart showing Falling Trend line

Just click on chart for its enlarged view

As selling in some pivotal stocks today therefore today range(5855-5920) will be watched first of all tomorrow and its break out will decide:


1- Next upmove after today Intra Day correction or 
2- Fresh rally after some deeper correction if Nifty slips below 5855
    
Nifty closed near the top of the day with Bullish Hammer Candle today. It is intraday correction completion signal and follow up buying tomorrow will mean fresh strong rally in the coming sessions after completion of today correction and crossing falling trend line.

FII Trading Data in Derivatives Segment on 05-Apr-2011

FII & DII trading activity in Capital Market Segment on 05-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 05-Apr-2011 2204.31 1481.02 723.29

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 05-Apr-2011 765.69 1294.67 -528.98

Nifty Spot-Levels & Trading Strategy for 06-04-2011

Nifty Spot-Levels

R3 6013
R2 5970
R1 5940
Avg 5897
S1 5867
S2 5824
S3 5794

Nifty Spot-Trading Strategy

H6 5983     Trgt 2
H5 5966     Trgt 1
H4 5950     Long breakout
H3 5930     Go Short
H2 5923
H1 5916
L1 5903
L2 5896
L3 5889     Long
L4 5869     Short Breakout
L5 5853     Trgt 1
L6 5836     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 06-04-2011

Nifty(Apr Fut)-Levels

R3 6126
R2 6063
R1 5997
Avg 5934
S1 5868
S2 5805
S3 5739

Nifty(Apr Fut)-Trading Strategy

H6 6062     Trgt 2
H5 6032     Trgt 1
H4 6002     Long breakout
H3 5967     Go Short
H2 5955
H1 5943
L1 5920
L2 5908
L3 5896     Long
L4 5861     Short Breakout
L5 5831     Trgt 1
L6 5801     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 06-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12145
R2 12035
R1 11948
Avg 11838
S1 11751
S2 11641
S3 11554

Bank Nifty(Apr Fut)-Trading Strategy

H6 12060     Trgt 2
H5 12014     Trgt 1
H4 11969     Long breakout
H3 11915     Go Short
H2 11897
H1 11879
L1 11842
L2 11824
L3 11806     Long
L4 11752     Short Breakout
L5 11707    Trgt 1
L6 11661     Trgt 2

Pre-closing Outlook(05-04-2011)

Very short term correction possibility predicted before opening today and that was seen today.

Following lines were told for indicting weakness of down moves in Mid-session Outlooks:-

1- Sufficient intra day selling patterns requires for any correction
2- Market slipped but without genuine selling patterns therefore today dip may be a part of condolisation also.
3- Intraday support and base formation seen between 5857-5870 today.

As I told for support and base formation and same happened, good recovery seen from lower levels. Bull rally is on and only such type of minor corrections are seen in Bull rallies.

Correction complrtion signals today and follow up buying tomorrow will mean fresh strong rallies in the coming sessions after completion of today correction.

Mid-session Outlook-2(05-04-2011)

Intraday support and base formation seen between 5857-5870 today. Sustaining beyond will be watched first immediate next move confirmations. I clearly mean to say that today begun very short term correction completion or continuation will be decided from this range:-

1- If Nifty sustains above 5870 then correction completion.
2- If Nifty sustains below 5857 then correction continuation with some depper correction posssibility.

Mid-session Outlook(05-04-2011)

As intra day correction possibility was high therefore its confirmations levels were given today and Nifty is trading in Red below 5880. Very short term correction was due and being seen today. Market slipped but without genuine selling patterns therefore today dip may be a part of condolisation also.

5854 is 1st intra day support level and will be watched for next moves confirmations. Although market slipped from higher levels but without genuine selling patterns therefore if Nifty sustains above 5854 then very short term intraday corretion completion will be considered.

Market is on wait and watch at present.

Post-open Outlook(05-04-2011)

Nifty is trading within mentioned next trend deciding range(5880-5940) since opening today. Sufficient intra day selling patterns requires for any correction and fresh consolidation within this range today will mean begining of fast rally toward 6120.Let market prepare then next decisive moves will be decided according to intra day charts patterns.

Pre-Open Market Outlook(05-04-2011)

Technical Positions,today Outlook and next possibilities have already been discussed in following topic in the Blog yesterday therefore not being repeated today:-

"Post-closing Report(04-04-2011) & Tomorrow Outlook"

Nifty gained 571 points in last 10 sessions made the top at 5918 yesterday. No intra day selling formations upto yesterday and any  correction will not be possible without this development minimum on intra day charts. As strength of this rally was understood long before therefore following lines were told:-

1- I told for rally minimum target in Post-closing Report(25-03-2011) & Monday Outlook:-

"21st March 2011 started rally minimum target is 5911"


2- For any type of down moves I told following lines in Post-closing Report(28-03-2011) & Tomorrow Outlook:-

"Complete selling patterns are required for any decisive down moves and until that will not happen till then any down move will not be imagined and after 2 months range break out any selling development can not be dreamed also."

3- I told for strength in Pre-Open Market Outlook(29-03-2011)

"Nifty will not sustain below 5580 in worst situations also."

4- I told for bullish market trading policy in Post-open Outlook(29-03-2011)

"5th wave is on and Nifty is trading within resistance range(5700-5900). Market will consolidate at higher levels without any deeper corrections in bullish markets and that will be seen. If having courage then ride on running horse otherwise if will try to stop(shorting) then be prepared for horse kick"

As no significant resistance resistance between 5900-6120 therefore fast rally between this range is a possibility also but sentiment is heated and indicators are overbought therefore intraday charts of today will be watched first for immediate next move confirmations. 5880-5940 crossing and sustaining beyond will be watched for conformation of following next possibilities:-

1- Sustaining below 5880 will mean very short term correction begining.
2- Sustaining above 5940 will mean continuation of rally without any correction as being seen in last 10 sessions.

Next immediate move will be decided after first 2/3 hours intra day charts formations today.

Post-closing Report(04-04-2011) & Tomorrow Outlook

Strong recovery and Nifty crossed crucial resistance range(5700-5900). Intra day charts of most of the Indices and pivotal stocks are showing consolidations patterns and up trend is safe today

Put Call Ratio : 1.09

Advances & Declines:-

NSE ADVANCES : 1257
NSE DECLINES : 177
BSE ADVANCES : 2454
BSE DECLINES : 473

Nifty Open Interest Changed Today:-

Nifty- 5800 CE(28APR2011)- -209950(-5.11%)
Nifty- 5800 PE(28APR2011)- +1213450(+36.21%)

Nifty- 5900 CE(28APR2011)- -582700(-15.40%)
Nifty- 5900 PE(28APR2011)- +1468150(+119.51%)

Closing :-

Nifty- closed at 5908.45(+82.40 Points & +1.41%)
Sensex- closed at 19701.73(+281.34 Points & +1.45% )
CNX MIDCAP- closed at 8226.70(+97.60 Points & +1.20%)
BSE SMALL CAP- closed at 8594.69(+236.50 Points & +2.83%)

Nifty Intra Day Chart of Today:-

Just click on chart for its enlarged view

Tomorrow(05-04-2011) Outlook:

It has been told many times that very short term indicators are overbought and sentiment is heated but until selling patterns will not develop minimum in intraday charts till then correction will not be possible. I again and again told more than 10 times for minimum 5900 and it clearly means that I am expeting levels above 5900.

Next strong resistance is between 6120-6180 but fresh consolidation is also a demand before next rally and it is expected near 5900 tomorrow and then next upmoves will begin within next 2/3 sessions. No selling formations today and if any negative news does not come out then upmoves may be seen in the last hour after some consolidations near 5900.

Nifty Spot-Levels & Trading Strategy for 05-04-2011

Nifty Spot-Levels

R3 6024
R2 5971
R1 5939
Avg 5886
S1 5854
S2 5801
S3 5769

Nifty Spot-Trading Strategy

H6 5994     Trgt 2
H5 5974     Trgt 1
H4 5954     Long breakout
H3 5931     Go Short
H2 5923
H1 5915
L1 5900
L2 5892
L3 5884     Long
L4 5861    Short Breakout
L5 5841     Trgt 1
L6 5821     Trgt 2

Nifty(Apr Fut)-Levels & Trading Strategy for 05-04-2011

Nifty(Apr Fut)-Levels

R3 6087
R2 6021
R1 5982
Avg 5916
S1 5877
S2 5811
S3 5772

Nifty(Apr Fut)-Trading Strategy

H6 6049     Trgt 2
H5 6025     Trgt 1
H4 6000     Long breakout
H3 5971     Go Short
H2 5962
H1 5952
L1 5933
L2 5923
L3 5914     Long
L4 5885     Short Breakout
L5 5860     Trgt 1
L6 5836     Trgt 2

Bank Nifty(Apr Fut)-Levels & Trading Strategy for 05-04-2011

Bank Nifty(Apr Fut)-Levels

R3 12209.00
R2 12064.00
R1 11974.00
PIVOT 11829.00
S1 11739.00
S2 11594.00
S3 11504.00

Bank Nifty(Apr Fut)-Trading Strategy

H6 12123     Trgt 2
H5 12068     Trgt 1
H4 12013     Long breakout
H3 11948    Go Short
H2 11927
H1 11905
L1 11862
L2 11840
L3 11819     Long
L4 11754     Short Breakout
L5 11699    Trgt 1
L6 11644    Trgt 2

FII Trading Data in Derivatives Segment on 04-Apr-2011

Add caption

FII & DII trading activity in Capital Market Segment on 04-Apr-2011

FII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 04-Apr-2011 2563 1958.49 604.51

DII trading activity on NSE and BSE in Capital Aprket Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 04-Apr-2011 744.63 1133.96 -389.33

Pre-closing Outlook(04-04-2011)

Nifty is above 5900 today and for this move I clearly told more than 10 times in last one week. Rally is very much on and no selling signals in intraday charts yet.

Pre-Open Market Outlook(04-04-2011)

All trends are up,5th wave is on,Nifty is trading within resistance range(5700-5900) with intraday consolidation patterns for the last 4 sessions. Very short term indicators are overbought and upper band of Bollinger Band is rising with Nifty rally therefore indicating technical requirements for correction.

First of all selling patterns formations in intra day charts and then correction begins and till now no selling patterns therefore any down move will not be considered. Nifty traded range bound between 5815-5840 with intra day consolidation patterns(its details has already been explained with intraday charts in last 3 topics in the Blog) therefore firstly trading between 5840-5900 will be seen after positive opening and close positive today.

Follow up buying today will pave the of strong rally above 5900 and it is also being expected.

Post-closing Report(01-04-2011) & Monday Outlook

Market is as follows after last Friday closing;-

Nifty whole day trading range- 5810-5840
Candle- Doji(confusion)
Intra day trading patterns- Condolidation

Put Call Ratio :1.23

Advances & Declines:-

NSE ADVANCES : 1145
NSE DECLINES :  278
BSE ADVANCES : 2176
BSE DECLINES :  704

Nifty Open Interest Changed:-

Nifty- 5800 CE(28APR2011)- -519850(-10.96%)
Nifty- 5800 PE(28APR2011)- +1285550(+60.57%)

Nifty- 5900 CE(28APR2011)- +1076600(+38.15%)
Nifty- 5900 PE(28APR2011)- +38700(+3.23%)

Closing :-

Nifty- closed at 5826.05(-7.70  Points & -0.13%)
Sensex- closed at 19420.39(-24.83 Points & -0.13% )
CNX MIDCAP - closed at 8129.10 (+88.95 Points & +1.11%)
BSE SMALL CAP- closed at 8358.19(+182.30 Points & +2.23%)

Nifty Intra Day Chart f  of  01-04-2011:-

Just click on chart for its enlarged view

Monday(01-04-2011) Outlook

5th impulsive wave is on and all trends are up.

SENSEX and Nifty closed in Red last Friday  but it is clear from Advances & Declines that broader market was positive as well as CNX MIDCAP and BSE SMALL CAP closed with good gains on Friday. Nifty intraday chart is also suggesting consolidation pattern therefore expected that Nifty will not sustain below last Fridy range and finally fresh up moves will restart within 2/3 sessions. Short term indicators are overbought and heated very short term correction may be possible.