Although going to close near the lower levels of today but same view of up moves for next week as has already been updated in previous Post-open Outlook today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Post-open Outlook(01-10-2014)
Although most time negative zone trading since opening today and now trading also in Red at this moment but today intraday trading patterns are showing consolidation patterns formations therefore emergence of up moves expectations after long holidays in next week and correction completion possibility as well.
Technical Analysis and Market Outlook(01-10-2014)
Nifty-Intra Day Chart (Sep 26 to Sep 30,2014):-
Technical Patterns and Formations in last 3 Sessions intraday charts
1- Consolidation between 7842-7910 on 26-09-2014
2- Selling between 7975-7991 on 29-09-2014
3- Selling between 8008-8030 on 30-09-2014
4- Supports between 7924-7966 on 30-09-2014
5- 3 Sessions actual trading between 7842-8030
Short Term Correction continuation for the last 16 sessions from 8180 and last 3 sessions sideways market between 7842-8030 after correction's lowest formation at 7842 on 26-09-2014. As good consolidation and supports at lower levels and equally good selling at higher levels also in last 3 sessions therefore very Short Term Trend is sideways between 7842-8030 and Nifty is not technically prepared for any side decisive moves as well as will firstly trade and prepare for next trend within this range.
As not much selling seen above 8030 therefore once valid break out of 8030 will mean fresh rally after correction completion and sustaining below 7842 will mean breaking down confirmation of 55 EMA(today at 7664),resultant steep fall after Intermediate Term Trend turning down confirmation.
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1- Consolidation between 7842-7910 on 26-09-2014
2- Selling between 7975-7991 on 29-09-2014
3- Selling between 8008-8030 on 30-09-2014
4- Supports between 7924-7966 on 30-09-2014
5- 3 Sessions actual trading between 7842-8030
Conclusions from 3 Sessions intra day chart analysis
Short Term Correction continuation for the last 16 sessions from 8180 and last 3 sessions sideways market between 7842-8030 after correction's lowest formation at 7842 on 26-09-2014. As good consolidation and supports at lower levels and equally good selling at higher levels also in last 3 sessions therefore very Short Term Trend is sideways between 7842-8030 and Nifty is not technically prepared for any side decisive moves as well as will firstly trade and prepare for next trend within this range.
As not much selling seen above 8030 therefore once valid break out of 8030 will mean fresh rally after correction completion and sustaining below 7842 will mean breaking down confirmation of 55 EMA(today at 7664),resultant steep fall after Intermediate Term Trend turning down confirmation.
Only sustaining beyond 7842-8030 should be firstly watched in the coming sessions for next trend and big decisive moves confirmations.
Mid-session Outlook(30-09-2014)
Following conclusive line was today in Post-open Outlook:-
RBI Credit policy will be announced at 11:00 AM today and market will be volatile also,sustaining beyond 7944-7991 will be next decisive move confirmation.
RBI Credit policy will be announced at 11:00 AM today and market will be volatile also,sustaining beyond 7944-7991 will be next decisive move confirmation.
Certainly volatile market and Nifty could not sustain at higher levels after follow up selling just above yesterday selling range and sustaining below 7944 will be deeper correction confirmation because consolidation was seen just above it today.
Mid-session Outlook(30-09-2014)
Although rates unchanged in RBI Credit Policy today but good consolidations today therefore emergence of correction completion expectations.
Post-open Outlook(30-09-2014)
As selling yesterday therefore it was updated yesterday in Mid-session Outlook(29-09-2014) and firstly negative zone trading seen immediately after opening today but minor support also seen between 7944-7952 today. Good selling between between 7975-7991 yesterday and until Nifty will not sustain above 7991 after complete consolidation till then next up move will not be considered.
RBI Credit policy will be announced at 11:00 AM today and market will be volatile also. It should be kept in mind that sustaining beyond 7944-7991 will be next decisive moves confirmation.
Technical Analysis and Market Outlook(30-09-2014)
Nifty-Intra Day Chart (29-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling patterns formations between 7975-7991
2- Whole day actual trading between 7935-7991
Whole day sideways trading within 56 points and some recovery from lower levels in last half hour also but good selling at higher levels today therefore Nifty will be understood sideways within last 2 sessions range(7842-7993) because both selling and consolidation between 7842-7991 seen between these 2 ranges.
Expected that Nifty will firstly prepare for next trend within 7842-7993 in the coming sessions and valid break out of this range will be on going correction continuation/completion. As good selling today therefore firstly slipping towards above mentioned next support will be seen tomorrow.
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| Just click on chart for its enlarged view |
1- Selling patterns formations between 7975-7991
2- Whole day actual trading between 7935-7991
Conclusions from intra day chart analysis
Whole day sideways trading within 56 points and some recovery from lower levels in last half hour also but good selling at higher levels today therefore Nifty will be understood sideways within last 2 sessions range(7842-7993) because both selling and consolidation between 7842-7991 seen between these 2 ranges.
Expected that Nifty will firstly prepare for next trend within 7842-7993 in the coming sessions and valid break out of this range will be on going correction continuation/completion. As good selling today therefore firstly slipping towards above mentioned next support will be seen tomorrow.
Mid-session Outlook(29-09-2014)
Selling patterns formations between 7975-7991 in sideways market today.
Pre-open Outlook(29-09-2014)
As sentiment turned weak because most Asian markets are trading in Red today morning therefore negative opening will be seen in Indian markets but good supports between 7842-7910 and until complete selling will not develop till then Nifty will not sustain below 7842. It should be kept in mind follow up consolidations and finally sustaining above 7842 will mean fresh rally after correction completion last Friday.
Technical Analysis and Market Outlook(29-09-2014)
Nifty-Intra Day Chart (26-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7842-7910
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7842-7993
As good consolidation at lower levels with down moves in Bullish Falling Channel also therefore until Nifty will not sustain below day's lowest(7842) after complete selling till then next down trend will not be considered and fresh up moves are expected in the beginning of next week. It should be kept in mind that resistances at higher levels are not much strong and possibility of new high formations after correction completion at day's lowest(7842) has turned alive on 26-09-2014.
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| Just click on chart for its enlarged view |
1- Consolidation between 7842-7910
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7842-7993
Conclusions from intra day chart analysis
As good consolidation at lower levels with down moves in Bullish Falling Channel also therefore until Nifty will not sustain below day's lowest(7842) after complete selling till then next down trend will not be considered and fresh up moves are expected in the beginning of next week. It should be kept in mind that resistances at higher levels are not much strong and possibility of new high formations after correction completion at day's lowest(7842) has turned alive on 26-09-2014.
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