Market out look 26-12-2011 to 30-12-2011

OM NAMO BHAGAVATHE SREE RAMAKRISHNAYA

Namaste.  I was in Hyderabad last week to attend to some personal work. That is why I could not send my writeup for the last week.

In my previous writeup I opined that

“Based on the above I am of the opinion, it would be prudent to wait for Nifty to make a bottom out side middle band. The important levels for Nifty are, close above  4932.69 to be bullish.”

Let us examine the nifty behavior during the period

Date                Open               High                 Low                  Close

12/12/2011     4906.85           4910.25           4755.55           4764.60

12/13/2011     4733.60           4824.70           4728.50           4800.60

12/14/2011     4788.70           4839.55           4750.40           4763.25

12/15/2011     4712.80           4768.65           4673.85           4746.35

12/16/2011     4752.50           4818.85           4628.20           4651.60

12/19/2011     4623.15           4623.15           4555.90           4613.10

12/20/2011     4635.80           4637.25           4531.15           4544.20

12/21/2011     4636.45           4707.35           4601.95           4693.15

12/22/2011     4636.90           4740.60           4632.95           4733.85

12/23/2011     4763.20           4763.45           4693.20           4714.00

Nifty made a bottom outside the middle band on 13-12-2011 but did not close above the mentioned level of 4932.69, the downward journey continued. Nifty again made a bottom out side lower band on 20-12-2011, started the upside movement.

Let us examine the likely behavior of Nifty in days to come with the help of few technical charts.

As mentioned supra, nifty made a bottom outside the lower band on 20^th December 2011. For trend reversal a top inside the middle band is required. The Chande Momentum Oscilator turned down, without crossing it’s 9 day moving average. ( Please refer to Nifty-1)

nifty-1

Nifty touched upper band of projection Bands and R-squared turned down. ( Please refer to Nifty-2)

Nifty-2

The Premier stochastic is yet to enter over bought area, Laguerrie rsi is flat.( Please Refer to Nifty-3)

Nifty-3

The adx is trending down, Volume zone oscillator and price zone oscillator are trending down. ( Please refer t Nifty-4)

Nifty-4

Based on the above I am of the opinion that Nifty most likely to undergo correction next week, before resuming it’s upward journey. The important levels for Nifty are, close below 4681.00 to impart bearishness and 4776.00 to initiate fresh bull move

Regards

Subrahmanyam

25^th December 2011, 10.46 A.M.

 

Sorry I was away

Namaste. As I went to hyderabad on personal work I could not post for last three days. Will be posting from today
Regards
Subrahmanyam
20-12-2011 5.53 P.M.

ITC near month futures may be good for longs

Namaste. ITC near month future may be good for long side. The previous close was 199.95. The probable target is 212.00 Rs. The stop loss is 197.65 Rs  Market lot is 2000 shares.
Regards
Subrahmanyam
14-12-2011, 9.22 P.M.

ITC looking good for long

Namaste. ITC may be good for long side. The probable target is 209.00 in cash. The previous close was 199.85. It would be prudent to observe a stop loss of 198.25
Regards
Subrahmanyam
14-12-2011 9.19 P.M.

market 15-12-2011

Namaste. The important levels for nifty futures for today are 4751.53, 4799.52 and 4847.52. The important astrological times are 12.33 P.m, 1.06 P.m and 2.45 PM
Regards
Subrahmanyam
14-12-2011, 8.42 P.M

Nifty 14-12-2011

Namaste. The important astro timings for the day are 11-15 am, 11-58 am, 1.37 P.m. Important technical levels for nifty are 4785.45 and 4833.30.
Regards
Subrahmanyam
13-12-2011, 8.20 P.M.

Nifty 12-12-2011

Namaste. Probable stable day with positive bias. Important time of day are 11.35 A.m. and 1.44 P.M. Important levels of Nifty future for the day are 4946.00,4897.00, 4848.00
Regards
Subrahmanyam
11-12-2011, 7.03 P.M.

Market out look 12-12-2011 to 16-12-2011

OM NAMO BHAGAVATHE SREE RAMAKRISHNAYA

MARKET OUTLOOK 12-12-2011 TO 16-12-2011

Namaste. In my previous week write up I opined that

“Based on the above I am of the opinion that Nifty after undergoing some correction most probably will resume the upward journey for some more time. It would be prudent to keep these levels as sideways behavior is likely for the next week. The important levels are close above 5060.00 to impart bullishness and close below 4955.00 to impart bearishness.”

Let us examine the Nifty movement during the period

Date               Open               High               Low                 Close

12/05/2011     5036.50           5055.40           5002.55           5039.15

12/07/2011     5050.10           5099.25           5032.25           5062.60

12/08/2011     5037.40           5049.05           4921.45           4943.65

12/09/2011     4870.75           4918.35           4841.75           4866.70

Nifty closed at 4866.70 loosing 172.45 points, close on close basis compared to close on 5^th December 2011. Nifty close below the mentioned level of 4955.00 on 8^th December 2011, on 9^th December 2011 it lost 76.95 points fro close on 8^th December 2011.

Let us examine, with the help of few technical charts,  what is in store for nifty in days to come.

Nifty formed a top outside the middle band of Bolinger band on 7^th December 2011. It came down below the middle band and not yet mad a bottom.

Chande momentum oscillator turned down and resting on it’s 9 day moving average and did not cross the moving average. ( Please refer to Nifty Chart-1)

Nifty touched the lower band of projection bands and R- squared is slightly trending down. ( Please refer to Nifty chart-2)

Nifty-3



Volume zone oscillator and price zone oscillator both are trending down and adx is still trending down. ( Please refer to Nifty Chart-3)

Laguree Rsi and Premier stochastic also trending down. Premier did not enter over bought area yet.

Based on the above I am of the opinion, it would be prudent to wait for Nifty to make a bottom out side middle band. The important levels for Nifty are, close above  4932.69 to be bullish.

Regards

Subrahmanyam

11^th December 2011, 6.13 P.M.



Nifty 09-12-2011

Namaste. Most probable  bearish day. The important times of the day are 11.47 a.m and 2.36 p.m. Important technical levels for nifty futures are 5006.10 and 4950.00.
Regards
Subrahmanyam
08-12-2011 7.55 P.M.

Market 07-12-2011

Namaste.

NIFTY FOR THE DAY:

Nifty most likely to be sideways with negative bias today. The important times of the day are 11.54 a.m, 12.31 P.m., 2.03 P.m, and 2.33 P.m.

The important levels of nifty futures for the day are 5104.59, 5054.05 and 5003.00

Regards

Subrahmanyam

Market 07-12-2011

Namaste.

NIFTY FOR THE DAY:

Nifty most likely to be sideways with negative bias today. The important times of the day are 12.28 P.m, 1.40 P.m., 2.31 P.m, and 3.05 P.m.

The important levels of nifty futures for the day are 5104.59, 5054.05 and 5003.00

Regards

Subrahmanyam

Market out look 07-12-2011 to 09-12-2011

OM NAMO BHAGAVATHE SREE RAMAKRISHNAYA

MARKET OUT LOOK FROM 7-12-2011 TO 09-12-2011

Namaste. In my preivious write up (http://astrotechnicalinvestor.blogspot.com/2011/11/market-out-look-28-11-2011-to-02-12.html)  I opined that

“Based on the above I am of the opinion that immediate steeper downfall of Nifty is some what restricted and Nifty may see some upside movement in days to come. The prudent trading idea would be buying Nifty ( spot) when it closes  above 4763 with a stop loss of 4759.00. The probable target of Nifty are 4980.00”

Let us examine the behavior of nifty during that period.

Date                Open               High                 Low                  Close

11/28/2011    4769.30          4859.10          4766.40          4851.30

11/29/2011    4864.20          4866.10          4787.10          4805.10

11/30/2011    4766.15          4851.55          4754.80          4832.05

12/01/2011    4970.85          5011.90          4916.70          4936.85

12/02/2011    4940.85          5062.55          4918.40          5050.15

12/05/2011    5036.50          5055.40          5002.55          5039.15

As can be seen from the above that, the nifty held the levels mentioned and reached the target area of 4980 and closed above that. Nifty posted gain of 329 points with reference to close on close and week on week basis.

Now let us try to examine what is in store for Nifty in days to come from 07-12-2011 to 9-12-2011, just three trading days.

We start with our technical charts.

Nifty made a bottom @ 4754.80 on 30-11-2011 inside the middle band of bolinger bands. Made a top out side middle bolinger on 2^nd December 2011 @ 5062.55. A botton inside the band followed by top out side the band will call for trend reversal.

Chande Momentum oscillator is above it’s moving average, slightly turned down, not yet entered over bought area.

The Laguerre Rsi is till going up and premier stochastic is trending up and not entered over bought area.

Price zone oscillator and volume zone oscillator both are trending up but adx is trending down.

Based on the above I am of the opinion that Nifty after undergoing some correction most probably will resume the upward journey for some more time. It would be prudent to keep these levels as sideways behavior is likely for the next week. The important levels are close above 5060.00 to impart bullishness and close below 4955.00 to impart bearishness.

Regards

Subrahmanyam

My assumption was wrong

Namaste. I assumed that market will be volatile with negative bias for today. Initially market was down but later posted very smart gains which was against my assumption and I was proved worng.
Regards
Subrahmanyam
02-12-2011 7.08 P.M.

Market 02-12-2011

Namaste. Probable volatile day with negative bias. Most crucial time is 13.29 P.M.
Regards
Subrahmanyam
01-12-2011, 8.22 P.M.