Pre-closing Outlook(11-03-2016)

Following Bullish moves at this moment:-

1- Nifty is now 22 points up
2- Sensex is now 103 points up
3- Dow's Futures is now 155 points up
4- All the European markets are also trading with 1.4% to 2.5% gains

Although above Bullishness but today intraday charts are showing selling signals therefore down moves are expected in the beginning of next week. As most uncertain Global markets therefore same following cautious view which has already been updated in previous 2 Outlooks at 08:57 AM and 01:57 PM today.

Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves. 

Mid-session Outlook(11-03-2016)

As lower levels supports and some consolidation in last hours yesterday therefore Post Budget Rally continuation above yesterday highest(7547.10) was told yesterday in "Post Budget Rally continuation after follow up consolidation" and it was seen also with 56 points rally up to 7543.95 in first hour today.

As ECB news led European markets huge down moves and high volatility in US markets as well as Next resistances between 7500-7530 therefore following line was told today at 08:57 AM in "Sideways market for FOMC big Moves" and must be kept in mind:- 

Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves. 

Although Nifty is now trading at 7512 after gaining 25 points but still we are saying for confirmations though above given levels.

Sideways market for FOMC big Moves

Pre-open Outlook(11-03-2016)

As ECB unexpectedly cut the bank’s key lending rate therefore deep Red closing of all European markets and flat closing of US markets amid high intraday volatility yesterday resultant most Asian markets are trading flat at this moment today. As FOMC meeting on 14 and 15 March therefore expected that all the Global markets including Indian markets will prepare for post FOMC meet decisive moves on 16th March.

Next supports of Nifty are as follows:-

1- 7430-7466
2- 7310-7360

Next resistances of Nifty are as follows:-

1- 7500-7530
2- 7556-7600

As huge fall in European markets and high volatility in US markets yesterday after ECB announcements therefore expected that Global markets will be cautious before FOMC and Nifty will also firstly remain sideways between 7430-7530 as well as prepare for post FOMC decisive big moves. Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves.

Post Budget Rally continuation after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(11-03-2016)

Nifty-Intra Day Chart (10-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 7500-7530
2- Support between 7448-7466
3- Consolidation between 7477-7505
4- Whole day actual trading between 7448-7530

Conclusions from intra day chart analysis 

Following line was told yesterday in "Post Budget Rally Continuation after Minor Correction"

firstly minor 1/2 sessions correction may be seen 

Following lines were told at 11:04 AM today in "Post-open Outlook(10-03-2016)":-

Next supports are between 7430-7446

Firstly minor correction was told yesterday and it was seen through through whole day day negative zone trading and 45.65 points down closing today. Next supports are between 7430-7446 was told at 11:04 AM today and Nifty could not slip below it and today lowest remained just above it at 7447.40.

As lower levels supports and some consolidation in last hours today therefore expected that Post Budget Rally will remain continued above today highest(7547.10) but some follow up consolidation is also required within or near about 7500-7530 because some selling was seen between this range in first hour today.

Post-open Outlook(10-03-2016)

Following line was told yesterday in "Post Budget Rally Continuation after Minor Correction"

firstly minor 1/2 sessions correction may be seen 

Firstly minor correction was told and it started within first 15 seconds after gap up opening today and now in continuation. 

Next supports are between 7430-7446 and firstly sustaining it beyond should be watched for today started correction completion,let it complete first then fresh buying should be initiated.

Post Budget Rally Continuation after Minor Correction 

Intra Day Chart Analysis & Market Outlook

(10-03-2016)

Nifty-Intra Day Chart (09-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day up moves with intraday corrections
2- Whole day actual trading between 7425-7539

Conclusions from intra day chart analysis 

Following lines were told at 01:19 PM on 04-03-2016 in "Firstly Watch Retracement Levels after today started Very Short Term Correction beginning":-

1- only very Short Term correction beginning will be considered
2- Bull markets does not give much deeper correction 
3- first 4 fours today intraday charts are showing some selling patterns therefore correction continuation is expected towards above levels.

As was told 100% same happened and Nifty corrected towards 13.0% retracement level(7416) as well as formed today lowest just above it at 7424.30 after loosing 61 points. We clearly told that Bull markets does not give much deeper correction and it was also seen today through more than 100 points recovery after very Short Term correction completion today.

As whole day up moves with intraday corrections and as such intraday selling patterns were not seen today therefore Budget day started rally continuation is expected after very Short Term correction completion today but firstly minor 1/2 sessions correction may be seen because Short Term Oscillators have turned overbought after strong rally today. 

Next resistances are between 7556-7600 which are sufficiently strong also and once sustaining above 7600 will mean Nifty will positively test Long Term Trend decider 200 Day EMA(today at 7800). Once confirmation of sustaining above it will mean strong possibility of worst is over. 

7443-7527 Will decide Next More than 2% One Sided Moves

Intra Day Chart Analysis & Market Outlook

(09-03-2016)

Nifty-Intra Day Chart (08-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Minor selling between 7443-7456
2- Minor support between 7506-7527
3- Whole day actual trading between 7443-7527

Conclusions from intra day chart analysis 

Following conclusive lines were told in previous 3 Outlooks on 04-03-2016:-

1- Selling between 7470-7488
2- very Short Term correction possibility towards post Budget rally retracement levels
3- Nifty will firstly trade and prepare for next decisive moves within or near about 7444-7512 in the beginning of next week.

As was told 100% same happened in following manner today:-

1- Nifty could not sustain at higher levels because selling was seen between 7470-7488 on 04-03-2016 and very Short Term 84 points correction from higher levels was seen today. 
2- Trading within or near about 7444-7512 was told and Nifty traded within or near about this range between 7442.15-7527.15 as well as closed also within this range at 7481.35 today.

Following resistances were updated at 12:2300 AM on 03-03-2016 in"Pull Back Rally continuation Expectations " 

1- 7480-7512
2- 7556-7600 

Nifty hovered around 1st resistance range in last 2 sessions with trading between 7443-7527 and valid break out of today trading range will generate more than 2% one sided moves because that will confirm the strength of resistance range.

As both higher levels minor selling and lower levels minor supports as well as Doji(indecision) Candle formations today therefore today trading will be again understood with Mixed Patterns formations between 7443-7527 and Nifty has to prepare for next decisive moves within and near about this range. 

Let Nifty prepare for next decisive moves between 7443-7527 then will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years because our policy is "No gossiping never guessing and whatsoever market suggest,only that is always updated".