On going rally continuation

Intra Day Chart Analysis & Market Outlook

(09-10-2017)

Nifty-Intra Day Chart (06-Oct-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves in first hour after strong opening
2- 5 Hours consolidation between 9948-9967
3- Sharp up moves in last half hour
4- Whole day actual trading between 9925-9989

Conclusions from intra day chart analysis 

Firstly up moves in first hour after strong opening and after that 5 Hours consolidation between 9948-9967 therefore this range will be immediate support of Nifty and until Nifty will not sustain below 9948 after complete selling till then decisive down moves will not be seen. 

As closing near the higher levels of the day after sharp up moves in last half hour and 5 Hours consolidation as well as no selling last Friday therefore Nifty is well prepared for on going rally continuation in the beginning of next week. 

9920 will confirm fast up

Intra Day Chart Analysis & Market Outlook

(06-10-2017)

Nifty-Intra Day Chart (05-Oct-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Volatility in first hour
2- More than 4 hours consolidation between 9894-9920
3- Slipping in last hour
4- Whole day actual trading between 9882-9945

Conclusions from intra day chart analysis 

Following lines were told on 03-10-2017 in "Market is well prepared for strong rally ":-

1- on going rally continuation above 9871
2- RBI credit Policy tomorrow but Indian markets are well prepared for strong rally and posiitve surprise from it will mean fresh more than 100 points strong rally tomorrow.

Although no positive announcements from RBI credit Policy but Nifty closed near the top of the day on 04-10-2017 and more than 4 hours consolidation between 9894-9920 on 05-10-2017 therefore up moves are expected in the coming sessions. 

As yesterday closing was near the lower levels of the day therefore valid break out of 9920 should also be firstly watched today for on going rally continuation confirmations and once its happening will mean will mean fast up moves.

Market is well prepared for strong rally 

Intra Day Chart Analysis & Market Outlook

(04-10-2017)

Nifty-Intra Day Chart (03-Oct-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Whole day sideways traing with consolidation Patterns formation between 9832-9871 
2- Whole day actual trading between 9832-9871

Conclusions from intra day chart analysis 

As strong global cues therefore firstly gap up opening and after that whole day positive zone sideways traing with consolidation Patterns formation between 9832-9871 today means on going rally continuation above 9871. 

Some resistances are lying below 9888 and once follow up consolidation with sustaining above it tomorrow will mean strong rally towards and above 10000. Although RBI credit Policy tomorrow but Indian markets are well prepared for strong rally and posiitve surprise from it will mean fresh more than 100 points strong rally tomorrow.  

Strong rally after sustaining above 9888

Market Outlook(03-10-2017)

As it was holiday yesterday and most Asian markets are trading with good gains after US markets strong rally yesterday night therefore Indian markets will react on these factors also resultant Intra Day Chart Analysis is not being updated. 

Following lines were told on 28-09-2017 in "Levels will confirm next Trend":-

1- Above 9758 will mean Pull Back rally continuation but correction completion will be considered after sustaining above next resistances (9790-9834 and 9850-9888)

Nifty faced resistance at above mentioned 2nd resistance(9850-9888) last Friday and slipped 66 points in last hour after formation of intraday top at 9854.

Although last Friday closing was near the lower of the day after loosing most intraday gains but as such selling patterns were not seen and fresh patterns consolidation developed therefore last Thursday started Pull Back rally continuation is expected but correction completion will be considered only after sustaining above 9888.

As per our view next trend will be formed after RBI credit Policy tomorrow and posiitve surprise will mean fresh strong rally. As Short Term indicators are oversold therefore next 1/2 sessions will be Pull Back rally continuation days and strong rally will be seen if Nifty sustains above 9888.