Sentiment is most depressed today because all the European markets are trading more than 1% down and Dow's Futures is now more than 50 points weak after all the Asian markets negative closing therefore sustaining beyond next supports range(7600-7650) should be watched for next big trend confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(01-08-2014)
Depressing Global cues led gap down opening and lower levels supports with consolidation patterns formation between 7650-7670 and some signals of supports near 7680 also. Follow up moves and sustaining above mentioned levels should be firstly watched now for the first strong signal of correction completion.
Technical Analysis and Market Outlook(01-08-2014)
Nifty-Intra Day Chart (31-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- First 4 hours trading between 7773-7791 with mixed patterns formations
2- Last 3 hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 7722-7791
Although closing at the lowest of the day but first 4 hours trading with mixed patterns formations and last 3 hours Down moves in Bullish Falling Channel therefore .90 down closing will be understood only derivative expiry reaction. As clear selling patterns not seen and emergence of consolidation patterns also therefore still expectations of rally continuation above 7840 are alive.
 |
| Just click on chart for its enlarged view |
1- First 4 hours trading between 7773-7791 with mixed patterns formations
2- Last 3 hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 7722-7791
Conclusions from intra day chart analysis
Although closing at the lowest of the day but first 4 hours trading with mixed patterns formations and last 3 hours Down moves in Bullish Falling Channel therefore .90 down closing will be understood only derivative expiry reaction. As clear selling patterns not seen and emergence of consolidation patterns also therefore still expectations of rally continuation above 7840 are alive.
As all the Global markets are in Red and some are deep down therefore sentiment is depressed today morning therefore firstly negative zone trading after gap down opening will be seen but finally rally will be seen in the coming weeks.
Technical Analysis and Market Outlook(31-07-2014)
Nifty-Intra Day Chart (30-Jul-2014):-
1- Down moves in Bullish Falling Channel
2- Supports and consolidation between 7708-7727
3- Last hours up moves between 7756-7798 with mixed patterns formations because both both intraday corrections and in Bearish Rising Channel
4- Whole day actual trading between 7708-7798
As follow up consolidations and lower levels supports after previous sessions good consolidations also therefore strong recovery from lower levels in last hours but with mixed patterns formations between 7756-7798 and Nifty will firstly trade and prepare for next trend within this range as well as valid break out of this range will be next immediate trend confirmations. Expected that finally rally and new life time high formation will be seen in the coming sessions.
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Supports and consolidation between 7708-7727
3- Last hours up moves between 7756-7798 with mixed patterns formations because both both intraday corrections and in Bearish Rising Channel
4- Whole day actual trading between 7708-7798
Conclusions from intra day chart analysis
As follow up consolidations and lower levels supports after previous sessions good consolidations also therefore strong recovery from lower levels in last hours but with mixed patterns formations between 7756-7798 and Nifty will firstly trade and prepare for next trend within this range as well as valid break out of this range will be next immediate trend confirmations. Expected that finally rally and new life time high formation will be seen in the coming sessions.
Pre-closing Outlook(30-07-2014)
Following lines was told yesterday in Technical Analysis and Market Outlook(30-07-2014):-
Following lines was told at 12:28 PM on 25-07-2014 in Mid-session Outlook:-
As intraday charts showed consolidation patterns formations therefore we posted crucial supports levels and Nifty could not sustain below 7772/7723 as well as last 2 sessions correction completed at 7708 today. First 4 hours intraday charts also showed consolidation today therefore expectations of new life time high formation and rally continuation in the coming sessions.
strong indication of 2 sessions correction completion at day's lowest(7723)
Following lines was told at 12:28 PM on 25-07-2014 in Mid-session Outlook:-
Nifty will not sustain below yesterday lowest(7772)
As intraday charts showed consolidation patterns formations therefore we posted crucial supports levels and Nifty could not sustain below 7772/7723 as well as last 2 sessions correction completed at 7708 today. First 4 hours intraday charts also showed consolidation today therefore expectations of new life time high formation and rally continuation in the coming sessions.
Technical Analysis and Market Outlook(30-07-2014)
Nifty-Intra Day Chart (28-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- First 4 hours down moves in Bullish Falling Channel.
2- 2 hours consolidation between 7723-7733
3- Whole day actual trading between 7723-7799
Firstly 4 hours down moves in Bullish Falling Channel and 2 hours lower levels consolidation therefore strong indication of 2 sessions correction completion at day's lowest(7723) and possibility of up moves towards and above 7840 in the coming sessions.
 |
| Just click on chart for its enlarged view |
1- First 4 hours down moves in Bullish Falling Channel.
2- 2 hours consolidation between 7723-7733
3- Whole day actual trading between 7723-7799
Conclusions from intra day chart analysis
Firstly 4 hours down moves in Bullish Falling Channel and 2 hours lower levels consolidation therefore strong indication of 2 sessions correction completion at day's lowest(7723) and possibility of up moves towards and above 7840 in the coming sessions.
Mid-session Outlook(28-07-2014)
Union Budget 2014-15 was expected to be passed today but Parliament adjourned till 11:00 AM on 30-07-2014 and continuously down moves seen towards next supports at 7720. As today down moves are showing Bullish Falling Channel and supports also seen between 7723-7733 therefore firstly sustaining beyond this range should be watched for correction continuation/completion.
Deeper correction is not expected and up moves are expected after follow up consolidation in the coming sessions.
Subscribe to:
Posts (Atom)