Mid-session Outlook-2(14-03-2014)

As soon as supports developed then it was updated at 12:06 PM in Mid-session Outlook and strong 55 points recovery seen from lower levels after consolidation between 6433-6447. Market will react according to fresh developments in Ukraine in next week and Indian markets next trend confirmations will be according to valid break out of 6433-6561.

Mid-session Outlook(14-03-2014)

Double bottom supports seen at lower levels today.

Pre-open Outlook(14-03-2014)

All the Global markets are in deep Red after reemergence of Ukraine problems suddenly therefore gap down opening will be seen in Indian markets. It should be kept in mind that once sustaining below 6487 will mean deeper correction confirmation and correction of rally between 5933-6561.

Let deeper correction come then next supports and retrace levels will be updated.

Technical Analysis and Market Outlook(14-03-2014)

Nifty-Intra Day Chart (13-Mar-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 6543-6561
2- 55 Points sharp fall in only 15 minutes
3- Whole day actual trading between 6477-6561

Conclusions from intra day chart analysis

 As soon as selling signals emerged then following line was told at 1:25 PM in Mid-session Outlook:-

emergence of some selling signals also therefore view is cautious 

Forceful break out possibility was told at 02:27 PM in Mid-session Outlook-2 and it started at 02:38PM as well as Nifty crashed 55 points in only 15 minutes.

All trends are up and Short term correction was due which was seen after higher levels good selling and until Nifty will not sustain above today highest(6561) till then next rally will not be considered and consolidation is firstly required for any decisive moves above 6561.

Good consolidation seen above 6487 in previous sessions therefore sustaining below 6487 should be firstly watched tomorrow and once sustaining below it will mean deeper correction confirmation and correction of rally between 5933-6561.

Live Proofs of Accurate Mid-session Outlook

Our view was Bullish and market moved up also immediately after opening but as soon as selling started to develop then we told following line at 01:25 PM in Mid-session Outlook:-

now trading also near the higher levels of today but emergence of some selling signals also therefore view is cautious

We also told for forceful break out possibility at 02:27 PM in Mid-session Outlook-2 and Nifty slipped fast 40 points in just only 7 minutes

Pre-closing Outlook(13-03-2014)

Confirm selling at higher levels today but consolidation above 6487 also in previous sessions therefore sustaining below 6487 should be firstly watched tomorrow because that will be deeper correction confirmation also.

Mid-session Outlook-2(13-03-2014)

Last 4 hours 23 points range bound trading between 6538-6561,forceful break out or sustaining beyond this range will be strong indication of next Short term trend.

Mid-session Outlook(13-03-2014)

Although good recovery from lower levels and now trading also near the higher levels of today but emergence of some selling signals also therefore view is cautious and finally sustaining beyond 6487-6562 should be watched for next immediate moves confirmations. 

Live Proofs of Indian Stock Markets 100% Accurate Predictions and levels

Nifty traded 42 points up today but when all the Global markets were in Red and Indian markets closed flat yesterday then following lines were told at 08:13 PM in Technical Analysis and Market Outlook(13-03-2014):-

1- Our view is still Bullish despite Red closing of all Asian markets today and more than .90% down all European markets as well as more than .30% weak US markets at this moment.
2- finally rally will remain continued above 6562 after follow up consolidations

Proofs of Levels Accuracy

Next trend deciding range of 6487-6562 with Bullish was given many times in last 3 days and Nifty could not slip below 6487

1- Yesterday lowest was at 6487.55
2- Today lowest is at 6487.55
3- Today highest is at 6561.45

Technical Analysis and Market Outlook(13-03-2014)

Nifty-Intra Day Chart (12-Mar-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 6488-6501 
2- Consolidation between 6495-6508
3- Selling between 6531-6546  
4- Whole day actual trading between 6488-6546

Conclusions from intra day chart analysis 

All trends are up and Short Term indicators are overbought therefore emergence of Short Term Correction possibility. It should be kept in mind that market require complete selling patterns formations for any decisive deeper down moves and some times Bullish markets complete its correction in sideways moves at higher levels or with small down moves also.

Although most depressing Global markets but we continuously updated following conclusions in previous 10 Outlooks:-

1- until fresh selling patterns will not develop till then any correction will not be considered. 
2- sustaining beyond 6487-6562 will be next decisive moves confirmation as well as should be firstly watched.

Nifty traded between 6487-6562 in last 3 sessions with lower levels good consolidation and supports as well as some selling at higher levels also therefore mixed trading patterns formations in previous 3 sessions, Expected that Nifty will firstly trade and prepare for next decisive moves between previous 3 sessions range(6487-6562) and sustaining beyond this range will be next trend confirmation.

As lower levels good supports and Nifty sustained above 6487 despite most Bearish Global markets on Monday and today  therefore expected that finally rally will remain continued above 6562 after follow up consolidations. Our view is still Bullish despite Red closing of all Asian markets today and more than .90% down all European markets as well as more than .30% weak US markets at this moment.

Mid-session Outlook-2(12-03-2014)

As lower levels consolidation and higher levels selling in last 2 sessions therefore sustaining beyond 6487-6562 was told in previous Outlooks:-

Nifty traded between 6487.30-6546.15 today with lower levels good supports and higher levels some selling also.

Only sustaining beyond 6487-6562 should be watched for next trend confirmations

Mid-session Outlook(12-03-2014)

Following lines was told yesterday in Technical Analysis and Market Outlook(12-03-2014):-

"last more than 4 hours down moves in "Bullish Falling Channel" formation also today therefore a signal of correction completion" 

As Bullish pattern formation therefore whole 4 hours down moves neutralised in only 5 minutes up minutes up moves today.

Although all the Asian markets were in Red but we were not Bearish and cautioned in Pre-open Outlook today at 08:38 AM:-

Although consolidation seen above 6498 in last 2 sessions and slipping below it can not be ruled out today due to Global sentiments but sustaining below it is must for any decisive down moves confirmations.

Nifty could not sustain below 6498 and forcefully moved up.

As mixed trading patterns formations in previous 2 sessions therefore follow up moves with sustaining beyond 6487-6562 will be next decisive moves confirmation and should be firstly watched in the coming sessions but rally continuation hopes above 6562 are alive. 

Pre-open Outlook(12-03-2014)

As all the Asian markets are in Red and 3 markets are trading more than 1% down today after negative closing of US markets therefore sentiment is depressed and weaker opening will be seen in Indian markets. Although consolidation seen above 6498 in last 2 sessions and slipping below it can not be ruled out today due to Global sentiments but sustaining below it is must for any decisive down moves confirmations.

Technical Analysis and Market Outlook(12-03-2014)

Nifty-Intra Day Chart (11-Mar-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 65424-6562.
2- Last more than 4 hours down moves in Bullish Falling Channel formation.
3- Whole day actual trading between 6494-6562.

Conclusions from intra day chart analysis 

All trends are up and Short Term indicators are overbought therefore emergence of Short Term Correction possibility. It should be kept in mind that market require complete selling patterns formations for any decisive deeper down moves and some times Bullish markets complete its correction in sideways moves at higher levels or with small down moves also.

Although higher levels some selling but last more than 4 hours down moves in Bullish Falling Channel formation also today therefore a signal of correction completion within side ways moves because good consolidation seen at lower levels yesterday also. Last 2 sessions trading between 6487-6562 with lower levels good consolidation and supports and some selling at higher levels also therefore mixed trading patterns formations in previous 2 sessions,follow up moves with sustaining beyond this range will be next decisive moves confirmation and should be firstly watched in the coming sessions.

Pre-closing Outlook(11-03-2014)

As lower levels good consolidations therefore only yesterday lowest(6487.35) was given for next down moves confirmations in all previous 3 Outlooks and today lowest is at 6494.25. As soon as selling developed today then it was also updated in both previous Outlooks and markets slipped from higher levels also but some indications of consolidation also seen in last 2 hours today therefore mixed trading patterns formations today and sustaining beyond 6487-6562 will be next decisive moves confirmation as well as should be firstly watched tomorrow.

Mid-session Outlook(11-03-2014)

Whole day trading between 6498-6562 yesterday and today first 2 hours trading within this range. As good supports at lower levels yesterday therefore complete selling is required for decisive down moves below yesterday lowest. Although higher levels selling seen today but complete follow up selling with sustaining below yesterday lowest is must for Short Term correction beginning confirmation.

Post-open Outlook(11-03-2014)

Selling seen immediately after opening today but follow up selling and sustaining below yesterday lowest should be watched for correction beginning confirmation.  

Technical Analysis and Market Outlook(11-03-2014)

Nifty-Intra Day Chart (10-Mar-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 6498-6525. 
2- Last hour down moves in Bullish Falling Wedge formation.
3- Whole day actual trading between 6498-6562.

Conclusions from intra day chart analysis 

Sentiment was most depressed today morning because all the Asian markets were in Red and some markets were more than 1% down and US Futures were also negative but Indian markets completely out performed Global markets and traded flat as well as consolidated with lower levels supports. Although market slipped from higher levels in last hour but with Bullish Falling Wedge formation therefore Rally continuation is still alive and until complete selling patterns will not develop as well as Nifty will not sustain below today lowest till then decisive down moves will not be considered.  

All trends are up and momentum indicators are over bought therefore Short Term Correction is due but complete selling patterns are required for the beginning of correction. Let follow up selling develop and Nifty sustain below today lowest then correction beginning should be considered. 

Mid-session Outlook(10-03-2014)

Although most depressed Global markets sentiments since today morning but Indian markets showed strength and consolidated at lower levels as well as got good supports. Rally is on and its continuation is expected after higher levels consolidation. As such up moves were expected therefore firstly we covered our Puts and told following lines in previous Outlook today at 10:20 AM:-

1- until fresh selling patterns will not develop till then any correction will not be considered
2- some times Bull markets consolidate at higher levels within sideways moves also.

Post-open Outlook(10-03-2014)

All the Asian markets are in Red and 4 markets are more than 1% down as well as reemergence of fresh Ukraine problems but Indian markets are completely outperforming Global markets and trading flat. All trends are up and Indian markets are most Bullish therefore until fresh selling patterns will not develop till then any correction will not be considered because some times Bull markets consolidate at higher levels within sideways moves also.

NIFTY-Mar Put Option(6400)-Positional Buying of 07-03-2014-Covering

NIFTY-Mar PE(6400)-Bought on 07-03-2014-Cover immediately-CMP-41(Indian markets are completely outperforming Global markets therefore covering)(Lalit39)

Firstly Short Term Correction before Next Rally

Technical Analysis,Research & Weekly Outlook

(Mar 10 to Mar 14,2014)

Recent top formation at  6,537.80 on 07-03-2014 but well before on 21-10-2013 Following line was told in Minimum target of Nifty at 6724.60

Nifty is well set for rally towards minimum target at 6724.60. 

Nifty closed at the top of rally with new high formation last Friday but well before its happening following 4 Weekly analysis topics with Bullish views were posted in previous 4 weeks:-

1- Rally Continuation after Very Short Term Correction(Posted on 02-03-2014)
2- Bullish Rally continuation(Posted on 23-02-2014)
3- View is Bullish(Posted on 16-02-2014) 
4- Bullish Week Ahead(Posted on 09-02-2014) 

(Just click on above topic and understand the reasons of our Bullish views since beginning of on going rally)

Nifty-EOD Chart (07-Mar-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(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation

Conclusions from EOD chart analysis 

All trends are up and impulsive Wave-3 continuation. As per Elliot Wave theory "Wave-3 should not be shorter than both Wave-1 and Wave-5" therefore Wave 3 will move up more than Wave-1.

Calculation on minimum Target of Wave-3:- 

1- Wave-1 gained 1023.65 points=6142.50(top of Wave-3)-5118.85(bottom of Wave-3)
2- As per Elliot Wave theory Wave-3 will move up minimum 1023.65 from the bottom on Wave-3 
3- Therefore minimum target of Nifty is at 6724.60= 5700.95(bottom on Wave-3)+1023.65 (Wave-1 gained)

Now impulsive Wave-iii of Wave-3 continuation and new historical high formation in previous week with weekly closing near the weekly highest level. As per above mentioned Elliot Wave theory minimum target of Wave-iii of Wave-3 is as follows:-

Calculation on going minimum Target of Wave-iii of Wave-3:-

1- Wave-i of Wave-3 gained 714.30 points=6415.25(top of Wave-i of Wave-3)-5700.95(bottom of Wave-i of Wave-3)
2- As per Elliot Wave theory Wave-iii of Wave-3 will move up minimum 714.30 from the bottom of Wave-iii of Wave-3 
3- Therefore minimum target of Wave-iii of Wave-3 is at 6647.60= 5933.30(bottom of Wave-iii of Wave-3)+714.30 (Wave-i of Wave-3 gained)

Expected that finally Wave-v of Wave-3 will achieve its minimum target of 6724.60 in the coming months. 

Nifty-Intra Day Chart (07-Mar-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day up moves in Bearish Rising Channel.
2- Whole day actual trading between 6413-6537

Conclusions from intra day chart analysis 

As whole day up moves in Bearish Rising Channel and indicators are overbought therefore signals of Short Term correction possibility turned strong on 07-03-2014.   

Conclusions (After Putting All Studies Together)

Indian markets are Bullish and rally continuation but Short term indicators are overbought and intraday selling patterns also seen in previous sessions therefore Short Term correction is due and expected that firstly correction will be seen in the beginning of next week. As Bullish markets complete its correction after very Short or Short Term correction therefore rally continuation after only such correction will be considered and follow up moves will also be firstly watched for the confirmation of its correction depth.