NIFTY-Feb Call Option(6200)-Positional-Buying Trade

NIFTY-Feb CE(6200)-Buy-Positional-SL-04 & TGT-54-CMP-16(Lalit39)

Pre-closing Outlook(21-02-2014)

As today intraday charts are showing more indications of buying therefore expected that Nifty will trade above 6180 in next week after follow up consolidations between 6130-6180.

Mid-session Outlook(21-02-2014)

Strong resistances are between 6130-6180 and selling was seen between this range on 18-02-2014 and 19-02-2014. Most time trading between 6130-6148 today but intraday patterns are not showing any clear pattern therefore some more preparation is required for decisive moves after sustaining beyond 6130-6180. 

Let market prepare and get confirmation through intraday charts patterns formations then will be updated accordingly. sustaining beyond 6130-6180 should be watched for next big moves confirmations.

Technical Analysis and Market Outlook(21-02-2014)

Nifty-Intra Day Chart (20-Feb-2014):-

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Technical Patterns and Formations in today intraday charts

1- Lower levels some supports
2- Higher levels some selling
3- Sharp up after more than 1% down European markets opening.
4- Most time trading above 6106
5- Whole day actual trading between 6087-6129

Conclusions from intra day chart analysis 

Firstly almost 6 hours Volatility with lower levels buying and and higher levels selling above 6106. Indian markets out performed global cues and sharply up after more than 1% down opening of European markets therefore a sign of strength also today despite down moves in last hour and closing below 6106.

As mixed pattern formations in first more than 5 hours today above 6106 therefore firstly sustaining beyond 6106 should be watched tomorrow for:-

1- Down moves towards next supports(6045-6065) after sustaining below 6106
2- Firstly consolidation between 6106-6129 after sustaining above 6106 and then 1st sign of any up move after valid break out of 6129.

Sustaining beyond 6106 should be firstly watched tomorrow for above mentioned next moves.

Pre-closing Outlook(20-02-2014)

Volatile markets with mixed(both buying and selling) trading patterns today and now trading below next support levels(6106) and until Nifty will not sustain below it till then next down moves will not be considered therefore sustaining below 6106 should be firstly watched tomorrow for next trend confirmations.

Mid-session Outlook(20-02-2014)

Although Indian markets are more than .50% down at this moment but out performed global cues and good supports seen after opening of much weaker European markets therefore it is a sign of strength and until Nifty will not sustain below today lowest(6106) till then next down moves will not be considered.

Next moves deciding range is 6106-6160 and firstly sustaining beyond this range should be watched now for next moves confirmations.

Technical Analysis and Market Outlook(20-02-2014)

Nifty-Intra Day Chart (19-Feb-2014):-

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Technical Patterns and Formations in today intraday charts

1- Most time trading between 6128-6144
2- Consolidation between 6128-6135
3- Selling patterns formation between 6136-6144
4- Sharp up in last 21 minutes
5- Whole day actual trading between 6126-6160

Conclusions from intra day chart analysis 

Most time trading between 6128-6144 with firstly consolidation patterns formation and good selling also at higher levels therefore some down moves are expected below today lowest(6126) tomorrow despite sharp up in last 21 minutes today.

Pre-closing Outlook(19-02-2014)

Although firstly consolidation patterns formation and now trading near the higher levels of today but good selling also seen therefore firstly some down moves are expected tomorrow below today lowest(6126)

Mid-session Outlook-2(19-02-2014)

Quiet range bound market and most time trading between 6129-6144 with firstly consolidation patterns formation but selling patterns also emerged in last 1 hour therefore valid break of mentioned range should be firstly watched for next immediate moves confirmations.

Mid-session Outlook(19-02-2014)

As first 2 hours intraday charts are showing consolidation patterns therefore emergence of up moves possibilities above 6140/6180

Post-open Outlook(19-02-2014)

Flat to positive market and preparation for next moves because today trading between immediate resistance range(6130-6180) after last five hours trading between 6110-6141 yesterday. As Bearish Rising Channel formation in last 5 hours up moves yesterday therefore view is cautions and follow up moves with sustaining beyond 6110-6180 will be firstly watched today. 

Expected that Nifty will prepare for next trend between 6110-6180 and sustaining beyond this range will be next big moves confirmations.

Technical Analysis and Market Outlook(19-02-2014)

Nifty-Intra Day Chart (18-Feb-2014):-

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Technical Patterns and Formations in today intraday charts

1- Firstly sharp up moves.
2- Last 5 hours up moves with Bearish Rising Channel.
3- Whole day actual trading between 6067-6141

Conclusions from intra day chart analysis 

Firstly sharp up immediately after opening but after that last 5 hours up moves with Bearish Rising Channel therefore some down moves can not be ruled out.  Resistances between 6130-6180 and Nifty traded between this range with mentioned Bearish pattern therefore follow up complete consolidation is must for trading above today highest and sustaining above 6180.

As fresh consolidation is required for sustaining above 6180 and it may take 1/2 sessions therefore intraday trading patterns will be firstly watched and then next moves decisive moves will be updated according to intraday charts formations because fresh selling will mean slipping towards next supports range(6045-6065) also.

Now sustaining beyond 6045-6180 should be watched for next trend confirmation.

Mid-session Outlook(18-02-2014)

As was told for in all previous Outlooks same was seen today and Nifty is trading 1% up as well as now trading between next resistance range(6130-6180). As fresh consolidation is required for sustaining above 6180 and it may take 1/2 sessions therefore intraday trading patterns will be firstly watched and then next moves beyond 6130-6180 will be updated accordingly.  

Now sustaining beyond 6130-6180 should be watched for next immediate trend confirmation.

Technical Analysis and Market Outlook(18-02-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns formations and supports between 6045-6065 
2- Whole day actual trading between 6040-6080

Conclusions from intra day chart analysis 

Most of the time sideways trading between 6045-6078 with good consolidation and supports between 6045-6065 therefore emergence of up moves expectations in the coming sessions but next immediate resistances are between 6090-6106 therefore complete follow up consolidation is required for sustaining above 6106.

Nifty will remain sideways between following ranges and will prepare for next trend as well as their valid break out will be next trend confirmations:-

1- 6045-6106
2- 5934-6180

Expected that Nifty will consolidate between above mentioned ranges and finally move above 6106/6180 in the coming sessions.

Pre-closing Outlook(17-02-2014)

Although sharp fall immediately after beginning of Interim Budget speech but most of the time sideways trading between 6045-6078. As more indications of buying therefore expectations of up moves above 6078 but valid break out of 6045-6078 should be firstly watched for confirmations because today sentiment is affected by Interim Budget also.

Post-open Outlook(17-02-2014)

Vote on account after 11:00 AM today and not much expectations from its announcements but some volatility can not be ruled out.

View is Bullish

Technical Analysis,Research & Weekly Outlook

(Feb 17 to Feb 21,2014)

Nifty-EOD Chart (14-Feb-2014):-

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Technical Patterns and Formations in EOD charts

1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-i of Wave-3(6342.95 on 03-11-2013)
5- Wave-ii of Wave-3(5972.45 on 13-11-2013)
6- Wave-iii of Wave-3(6415.25 on 09-12-2013)
7- Wave-iv of Wave-3(6129.95 on 18-12-2013)
8- Wave-v of Wave-3 failed after 28 sessions trading between 6130-6358.
9- Higher bottom formation in previous week.

Nifty-EOD Chart (14-Feb-2014):-

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Technical Patterns and Formations in EOD charts

1- 40 Sessions trading between 6130-6415 between 02-12-2013 and 28-01-2014.
2- 18 Sessions trading between 6130-6358 with triple top formations
3- Supports at 200-Day EMA in last 12 sessions.
4- 200-Day EMA(today at 6004)

Conclusions from EOD charts analysis 

Intermediate Term Trend is down,Short term is up and Long Term is sideways through hovering around its decider 200-Day EMA(today at 6004) in last 12 sessions.  Wave-v of Wave-3 failed after 28 sessions trading between 6130-6358 and sustaining above 6130 is must for maintaining of:-

1- Wave-v of Wave-3.
2- Whole waves structure formation from 5118.85(on 28-08-2013)
3- Intermediate and Long Trem Trend turning up confirmation.

Multiple resistances between 6130-6358 and strongest resistances are at 6358 because triple top formation there. As last 2 weekly candle formation is "Bullish Hammer" therefore fresh up moves beginning possibility strengthened in previous weeks and let Nifty sustain above 6130 then resistances will be updated.

Nifty-Intra Day Chart (14-Feb-2014):-

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Technical Patterns and Formations in today intraday charts

1- First 4 hours consolidation pattern formations
2- Support between 5985-5998
3- Consolidation pattern formations during up moves
4- Whole day actual trading between 5985-6056 

Conclusions from intra day chart analysis 

As last hour up moves after lower levels consolidation therefore following line is being repeated which was told at 11:45 AM on 14-02-2014 in Mid-session Outlook(14-02-2014):-

"Intraday patterns of today are showing consolidation indications and sustaining above today lowest will mean Short Term up moves towards 6100"

Conclusions (After Putting All Studies Together)

Pull Back Rally beginning with Weekly Bullish Hammer Candle formation in previous 2 weeks and until Nifty will not sustain below the lowest(5934) of previous couple of week till then next down moves will not be considered. As complete follow up consolidation is must for rally above 6358 therefore expected that coming week will be sideways between 5934-6358 and prepare for next big trend.

As last 2 weekly candle formation is "Bullish Hammer" therefore deeper down moves will not be immediately considered because following supports developed in previous couple of weeks:-

1- 5985-5998
2- 5966-5992
3- 5963-5975
4- 5934-5954

As following immediate resistances therefore follow up consolidation is must for the beginning of fresh rally and confirmation of sustaining above Long Term Trend decider 200-Day EMA.

1- 6090-6106
2- 6130-6180

Nifty closed at 6048 in previous week with supports up to 5934 and resistances up to 6180 therefore Nifty will remain sideways between 5934-6180 and prepare for next trend. As following positive technical points therefore view is Bullish and rally continuation is expected after follow up consolidations:-

1- Closing above Long Term Trend decider 200-Day EMA(today at 6004)
2- Multiple supports developed in previous 2 weeks below 200-Day EMA.
3- Bullish Hammer candle formation in previous 2 weeks. 
4- Higher bottom formation in previous week