Pre-closing Outlook(28-08-2014)

Following conclusive line was told yesterday in Technical Analysis and Market Outlook(28-08-2014)

follow up consolidation is equally required because last resistance range(7940-7968) is strong.

Nifty traded whole day within above mentioned levels between 7940.80-7967.80 with intraday consolidation patterns formations therefore rally continuation above 8000 is expected in next week.

Live Proofs of Accurate Levels

Following conclusive line was told yesterday in Technical Analysis and Market Outlook(28-08-2014)

follow up consolidation is equally required because last resistance range(7940-7968) is strong.

Nifty traded within above mentioned levels between 7942.25-7967.80 in first 2 hours today and preparing for next decisive moves.

Mid-session Outlook(28-08-2014)

As first 2 hours intraday charts of today have shown mixed patterns formations therefore at present view is watchful and firstly sustaining beyond last resistance range(7940-7968) will be watched for next immediate trend confirmations.

Technical Analysis and Market Outlook(28-08-2014)

Nifty-Intra Day Chart (27-Aug-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Most time trading between 7934-7946
2- Down moves in Bullish Falling Channel within most time trading range.
3- Support between 7917-7928
4- Whole day actual trading between 7917-7946

Conclusions from intra day chart analysis 

Following lines were told  today at 08:11 AM in Technical Analysis and Market Outlook(27-08-2014)

As 5 hours Selling between 7940-7968 on 25-08-2014 which is just above yesterday selling range(7898-7915) therefore 7898-7968 will be understood strong resistance range and complete consolidation is must for decisive rally above life time highest.

As Indian markets were not prepared for any rally therefore Nifty traded most time within last 2 sessions selling ranges between 7934-7946 and prepared for next trend. Although slipping below most time trading range and sharp fall was also seen at 02:45 PM but today intraday charts are showing consolidation patterns also. 

Finally trading patterns of today will be understood a part of consolidation process and emergence of fresh rally continuation expectations in next week but follow up consolidation is equally required because last resistance range(7940-7968) is strong.

Pre-closing Outlook(27-08-2014)

Following lines were told today at 08:11 AM in Technical Analysis and Market Outlook(27-08-2014)

1- Although flat to positive Asian markets but SGX Nifty is trading more than 25 points up today morning therefore positive opening may be seen in Indian markets but immediate decisive up moves will not be seen
2- 7898-7968 will be understood strong resistance range therefore complete consolidation is must for decisive rally above life time highest.

Firstly more than 5 hours trading between 7926-7946 with consolidations and this range broken down also but as such selling not seen within this range therefore today sharp fall at 02:45 PM will be understood a part of cosolidation process and rally continuation expectations will remain a live in next week .

Technical Analysis and Market Outlook(27-08-2014)

Nifty-Intra Day Chart (26-Aug-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 7898-7915 
2- Consolidation between 7863-7884 
3- Whole day actual trading between 7863-7915

Conclusions from intra day chart analysis 

Importance of supports at 7856 was told in the all the Outlooks for yesterday trading and Nifty got supports just above it at 7862.45 yesterday as well as strong recovery also seen from lower levels. Although lower levels supports but higher levels good selling were also seen yesterday therefore firstly follow up consolidation is required for sustaining above yesterday highest(7915). 

As 5 hours Selling between 7940-7968 on 25-08-2014 which is just above yesterday selling rangeselling range(7898-7915) therefore 7898-7968 will be understood strong resistance range and complete consolidation is must for decisive rally above life time highest.

Although flat to positive Asian markets but SGX Nifty is trading more than 25 points up today morning therefore positive opening may be seen in Indian markets but immediate decisive up moves will not be seen because above mentioned resistances are lying at higher levels. 

Nifty will trade and prepare for next trend between 7856-7968 in the coming sessions and finally sustaining beyond this range will be next big trend confirmation.

Pre-closing Outlook(26-08-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(22-08-2014):-

1- Supports between 7856-7891 
2- high possibility of slipping towards above mentioned supports range
3- Firstly sustaining beyond 7856 should be watched in the coming sessions.

Importance of supports at 7856 was told in both previous Outlooks and Nifty got supports just above it at 7862.45 after slipping from intraday higher levels.

Although lower levels some supports but higher levels selling was also seen today therefore firstly sustaining beyond above mentioned supports+today trading range(7856-7915) and should be watched. 

Mid-session Outlook(26-08-2014)

Supports between 7856-7891 was updated yesterday in previous Outlook and this support is most crucial because Inverted Head and Shoulders Bullish pattern formation(its Neckline is at 7891) was seen within this range on 21-08-2014. Just click following link and understand above mentioned Bullish pattern formation structure:-

Technical Analysis and Market Outlook(22-08-2014)

Nifty is trading within above mentioned supports(7856-7891) for the last 1 hour and finally sustaining beyond this range should be watched for:-

1- Deeper correction confirmation below 7856
2- Yesterday started correction completion above 7891

Technical Analysis and Market Outlook(26-08-2014)

Nifty-Intra Day Chart (25-Aug-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 7940-7968 in first 5 hours
2- Down moves in last hour
3- Whole day actual trading between 7898-7968

Conclusions from intra day chart analysis 

Although down moves in last hour today but we told about it well before its happening and told following lines:-

1- At 2:32 PM on 22-08-2014 in Mid-session Outlook(22-08-2014):-"minor down moves below today lowest(7903) can not be ruled out"
2- At 01:44 AM on 25-08-2014 in Technical Analysis,Research & Weekly Outlook(Aug 25 to Aug 28,2014):- "emergence of Short Term correction possibility before next decisive and strong rally above life time high(7929)"

4 Sessions sideways trading between 7856-7929 in previous week with following supports and resistances:-

1- Resistances between 7898-7929
2- Supports between 7856-7891 

As today closing is within above mentioned resistance range and good selling just above it today between 7940-7968 therefore complete consolidation is required for any decisive rally above today highest and high possibility of slipping towards above mentioned supports range. Firstly sustaining beyond 7856 should be watched in the coming sessions for:-

1- Deeper correction below 7856
2- Today started correction completion above 7856

No guessing and sustaining beyond 7856 should be firstly watched for above mentioned moves because next big trend of Indian markets will be decided according to follow up moves in the coming sessions.

Mid-session Outlook(25-08-2014)

All trends are up and Bullish rally is very much on but indicators are showing negative divergence in Overbought zone as well as selling patterns formations were also seen in last 4 sessions intraday charts. Although continuous up moves since opening today but without force and on the back of more than 50 points up Dow's Futures and strong European markets also therefore View will remain cautious because emergence of Short Term correction possibility.

Post-open Outlook(25-08-2014)

As Bull markets consolidate at higher levels also therefore strong recovery immediately after opening but confirmation through follow up consolidation and sustaining above 7929 is must for fresh decisive rally.

Technical Analysis,Research & Weekly Outlook(Aug 25 to Aug 28,2014)

Nifty-Intra Day Chart (Aug 19 to Aug 22,2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 4 Sessions intraday charts

1- Selling between 7898-7919 in first 3 sessions 
2- Supports and consolidation between 7856-7891 in first 3 sessions
3- Selling between  7916-7929 on 22-08-2014
4- 4 Sessions actual trading between 7856-7929 

Conclusions from 4 Sessions intra day chart analysis 

Nifty traded 49 sessions between 7423-7840 and this range broken out on 18-08-2014 but its broken out confirmation was required because break out was without required force and whole day up moves were slow on that day. Technically valid break out confirmation is derived through:-

1- 3% up moves the top of previous range(7840) or
2- 3 sessions sustaining above the top(7840) of previous range 

Although Nifty closed well above the top of 49 sessions range(7423-7840) in all the sessions of previous week but as such consolidation not seen and selling patterns were also in last 4 sessions despite weekly closing is near the top of week. 

All trends are up and Bullish rally is very much on but indicators are showing negative divergence in Overbought zone as well as selling patterns formations were also seen in last 4 sessions intraday charts therefore emergence of Short Term correction possibility before next decisive and strong rally above life time high(7929). 

View is watchful and cautious as well as until fresh consolidation will not be seen in the beginning of next week till then sustaining above life time high(7929) will not be considered and possibility of reentering into previous 49 sessions range(7423-7840) will remain alive. 

Firstly sustaining beyond last 4 sessions(7856-7929 should be watched in next week for:-

1- Short Term correction possibility below 7856
2- Fresh strong rally possibility above 7929