Nifty is hovering around 6046 for the last half hour after higher levels selling,sustaining beyond it should be firstly watched for deeper correction confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(17-10-2013)
Indian markets are technically poised for all time high formations because Wave-3 is continued for targets above all time highs but view is cautious today and valid break out of 6046-6156 should be firstly watched because sentiment is being dampened due to following recent developments:-
1- CBI filed a FIR against Kumar Mangalam Birla and Former coal secretary P C Parakh over alleged irregularities in the allocation of a coal block in Orissa, sending shock waves among industrialists and bureaucrats across the country.
2- Mr Parakh commented that Prime Minister Manmohan Singh cannot escape responsibility in the controversial allocations and PM should also be an accused as he is equally responsible in coal block allocations.
1- CBI filed a FIR against Kumar Mangalam Birla and Former coal secretary P C Parakh over alleged irregularities in the allocation of a coal block in Orissa, sending shock waves among industrialists and bureaucrats across the country.
2- Mr Parakh commented that Prime Minister Manmohan Singh cannot escape responsibility in the controversial allocations and PM should also be an accused as he is equally responsible in coal block allocations.
Post-open Outlook(17-10-2013)
Flat market despite positive news from USA because Indian markets have to prepare for next trend between 6046-6156,firstly valid break out of this range should be watched for next big trend confirmations.
Let market prepare for decisive moves then will be updated according to intraday charts formations.
Let market prepare for decisive moves then will be updated according to intraday charts formations.
Technical Analysis and Market Outlook(17-10-2013)
Nifty-Intra Day Chart (14-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 6057-6090
2- Whole day actual trading between 6057-6156
Wave-3 is on but correction was expected after intraday selling in previous sessions and it was seen also on 14-10-2013 with sharp slipping from higher levels. As good consolidation at lower levels therefore until Nifty will not sustain below the lowest of the day(6057) till then next down moves will not be considered and correction completion will also be considered because some times Bull markets complete its correction within sideways market also.
Previous 3 sessions trading between 6046-6156 with lower levels supports and selling within this range also therefore expected that Nifty will firstly trade within this range and prepare for next trend and Valid break out of this range should be firstly watched in the coming sessions for deeper correction below 6046 or strong rally above 6156.
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| Just click on chart for its enlarged view |
1- Consolidation between 6057-6090
2- Whole day actual trading between 6057-6156
Conclusions from intra day chart analysis
Wave-3 is on but correction was expected after intraday selling in previous sessions and it was seen also on 14-10-2013 with sharp slipping from higher levels. As good consolidation at lower levels therefore until Nifty will not sustain below the lowest of the day(6057) till then next down moves will not be considered and correction completion will also be considered because some times Bull markets complete its correction within sideways market also.
Previous 3 sessions trading between 6046-6156 with lower levels supports and selling within this range also therefore expected that Nifty will firstly trade within this range and prepare for next trend and Valid break out of this range should be firstly watched in the coming sessions for deeper correction below 6046 or strong rally above 6156.
It should be kept in mind that once valid break out above 6156 will mean high possibility of new all time high formation and we are expecting it on 18-10-2013 or in next week.
Nifty Spot-Levels & Trading Strategy for 17-10-2013
Nifty Spot-Levels
R3 6244
R2 6200
R1 6144
Avg 6100
S1 6044
S2 6000
S3 5944
Nifty Spot-Trading Strategy
H6 6189 Trgt 2
H5 6166 Trgt 1
H4 6144 Long breakout
H3 6116 Go Short
H2 6107
H1 6098
L1 6079
L2 6070
L3 6061 Long
L4 6034 Short Breakout
L5 6011 Trgt 1
L6 5988 Trgt 2
R3 6244
R2 6200
R1 6144
Avg 6100
S1 6044
S2 6000
S3 5944
Nifty Spot-Trading Strategy
H6 6189 Trgt 2
H5 6166 Trgt 1
H4 6144 Long breakout
H3 6116 Go Short
H2 6107
H1 6098
L1 6079
L2 6070
L3 6061 Long
L4 6034 Short Breakout
L5 6011 Trgt 1
L6 5988 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2013
Nifty(Oct Fut)-Levels
R3 6292
R2 6242
R1 6176
Avg 6126
S1 6060
S2 6010
S3 5944
Nifty(Oct Fut)-Trading Strategy
H6 6226 Trgt 2
H5 6200 Trgt 1
H4 6173 Long breakout
H3 6141 Go Short
H2 6131
H1 6120
L1 6099
L2 6088
L3 6078 Long
L4 6046 Short Breakout
L5 6019 Trgt 1
L6 5993 Trgt 2
R3 6292
R2 6242
R1 6176
Avg 6126
S1 6060
S2 6010
S3 5944
Nifty(Oct Fut)-Trading Strategy
H6 6226 Trgt 2
H5 6200 Trgt 1
H4 6173 Long breakout
H3 6141 Go Short
H2 6131
H1 6120
L1 6099
L2 6088
L3 6078 Long
L4 6046 Short Breakout
L5 6019 Trgt 1
L6 5993 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 17-10-2013
Bank Nifty(Oct Fut)-Levels
R3 11091
R2 10940
R1 10683
Avg 10532
S1 10275
S2 10124
S3 9867
Bank Nifty(Oct Fut)-Trading Strategy
H6 10836 Trgt 2
H5 10744 Trgt 1
H4 10651 Long breakout
H3 10539 Go Short
H2 10501
H1 10464
L1 10389
L2 10352
L3 10314 Long
L4 10202 Short Breakout
L5 10109 Trgt 1
L6 10017 Trgt 2
R3 11091
R2 10940
R1 10683
Avg 10532
S1 10275
S2 10124
S3 9867
Bank Nifty(Oct Fut)-Trading Strategy
H6 10836 Trgt 2
H5 10744 Trgt 1
H4 10651 Long breakout
H3 10539 Go Short
H2 10501
H1 10464
L1 10389
L2 10352
L3 10314 Long
L4 10202 Short Breakout
L5 10109 Trgt 1
L6 10017 Trgt 2
Live Proofs of Indian Stock Markets 100% Accurate Predictions
Who predicted Indian markets with such accuracy in whole India as was done in this Blog:-
Nifty is now trading 51 points down at 6061 but when Nifty was traing at 6155 and was 43 points up then following line was told today at 09:46 AM in previous Outlook:-
finally down moves will be seen in the coming sessions.
Although Nifty closed near the highest of the day yesterday but following lines were told yesterday in Technical Analysis and Market Outlook:-
Nifty will not sustain above today highest(6123) and will slip below today lowest(6086) despite closing near higher levels of the day today.
Following line was told yesterday in Post-closing Report:-
Although now trading near the highs of today but intraday charts are showing selling patterns.
Following line was told yesterday in Mid-session Outlook
Although most time positive zone trading since opening today but intraday charts are showing selling patterns.
Not only yesterday and today but 'Archive' with 'more than 6500 posts' at the bottom of Blog' is live proof of "many hundreds" such accurate and miraculous predictions in last 4 years. Anyone can verify this facts anytime from the Blog 'Archive'.
Post-open Outlook(15-10-2013)
As US markets strongly recovered from lower levels and closed with sufficient gains yesterday therefore sentiment turned strong and all the Asian markets are trading in Green today morning,resultant gap up opening in Indian markets. As Indian markets are overbought and previous sessions intraday charts are showing selling patterns formations as well as up moves are US shut down solution expectation reaction therefore expected that finally down moves will be seen in the coming sessions.
Technical Analysis and Market Outlook(15-10-2013)
Nifty-Intra Day Chart (14-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6114-6123
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 6086-6123
Although most time positive zone trading since opening today but Up moves in Bearish Rising Channel with higher levels selling also therefore expected that Nifty will not sustain above today highest(6123) and will slip below today lowest(6086) despite closing near higher levels of the day today.
 |
| Just click on chart for its enlarged view |
1- Selling between 6114-6123
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 6086-6123
Conclusions from intra day chart analysis
Although most time positive zone trading since opening today but Up moves in Bearish Rising Channel with higher levels selling also therefore expected that Nifty will not sustain above today highest(6123) and will slip below today lowest(6086) despite closing near higher levels of the day today.
Nifty Spot-Levels & Trading Strategy for 15-10-2013
Nifty Spot-Levels
R3 6172
R2 6148
R1 6130
Avg 6106
S1 6088
S2 6064
S3 6046
Nifty Spot-Trading Strategy
H6 6124 Trgt 2
H5 6114 Trgt 1
H4 6104 Long breakout
H3 6093 Go Short
H2 6089
H1 6085
L1 6078
L2 6074
L3 6070 Long
L4 6059 Short Breakout
L5 6050 Trgt 1
L6 6040 Trgt 2
R3 6172
R2 6148
R1 6130
Avg 6106
S1 6088
S2 6064
S3 6046
Nifty Spot-Trading Strategy
H6 6124 Trgt 2
H5 6114 Trgt 1
H4 6104 Long breakout
H3 6093 Go Short
H2 6089
H1 6085
L1 6078
L2 6074
L3 6070 Long
L4 6059 Short Breakout
L5 6050 Trgt 1
L6 6040 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 15-10-2013
Nifty(Oct Fut)-Levels
R3 6213
R2 6183
R1 6163
Avg 6133
S1 6113
S2 6083
S3 6063
Nifty(Oct Fut)-Trading Strategy
H6 6193 Trgt 2
H5 6181 Trgt 1
H4 6170 Long breakout
H3 6156 Go Short
H2 6152
H1 6147
L1 6138
L2 6133
L3 6129 Long
L4 6126 Short Breakout
L5 6115 Trgt 1
L6 6092 Trgt 2
R3 6213
R2 6183
R1 6163
Avg 6133
S1 6113
S2 6083
S3 6063
Nifty(Oct Fut)-Trading Strategy
H6 6193 Trgt 2
H5 6181 Trgt 1
H4 6170 Long breakout
H3 6156 Go Short
H2 6152
H1 6147
L1 6138
L2 6133
L3 6129 Long
L4 6126 Short Breakout
L5 6115 Trgt 1
L6 6092 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 15-10-2013
Bank Nifty(Oct Fut)-Levels
R3 10966
R2 10867
R1 10789
Avg 10690
S1 10612
S2 10513
S3 10435
Bank Nifty(Oct Fut)-Trading Strategy
H6 10889 Trgt 2
H5 10841 Trgt 1
H4 10808 Long breakout
H3 10759 Go Short
H2 10743
H1 10727
L1 10694
L2 10678
L3 10662 Long
L4 10613 Short Breakout
L5 10573 Trgt 1
L6 10532 Trgt 2
R3 10966
R2 10867
R1 10789
Avg 10690
S1 10612
S2 10513
S3 10435
Bank Nifty(Oct Fut)-Trading Strategy
H6 10889 Trgt 2
H5 10841 Trgt 1
H4 10808 Long breakout
H3 10759 Go Short
H2 10743
H1 10727
L1 10694
L2 10678
L3 10662 Long
L4 10613 Short Breakout
L5 10573 Trgt 1
L6 10532 Trgt 2
Post-closing Report(14-10-2013)
Although now trading near the highs of today but intraday charts are showing selling patterns.
Mid-session Outlook(14-10-2013)
Although most time positive zone trading since opening today but intraday charts are showing selling patterns.
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Technical Analysis,Research & Weekly Outlook(Oct 14 to Oct 18,2013
Nifty-EOD Chart (11-Oct-2013):-
Technical Patterns and Formations in EOD charts
1- All time high formation at 6357.10 on 08-01-2008
2- 1st Lower top formation at 6338.50 on 05-11-2010
3- 2nd Lower top formation at 6229.45 on 20-05-2013
4- 3rd Lower top formation at 6142.50 on 19-09-2013
Conclusions from EOD chart analysis
As 3 times lower top formations since all time high formation in Jan 2008 therefore above mentioned resistances psychological at higher higher levels.
Nifty-EOD Chart (11-Oct-2013):-
Technical Patterns and Formations in EOD charts
Hanging Man Bearish Candle formation on 11-10-2013
Conclusions from EOD chart analysis
Hanging Man candle means sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes near the top the day. This signifies the potential for further follow up selling in the coming sessions. Trend reversal can be confirmation be by a black candlestick or a large down gap on the next trading day accompanied by a lower close.
Nifty-Intra Day Chart (11-Oct-2013):-
Technical Patterns and Formations in today intraday charts
1- Up moves in Bearish Rising Channel.
3- Whole day actual trading between 6047-6107
Conclusions from intra day chart analysis
As up moves in Bearish Rising Channel therefore therefore emrgence of down moves possibility.
 |
| Technical Patterns and Formations in EOD charts |
1- All time high formation at 6357.10 on 08-01-2008
2- 1st Lower top formation at 6338.50 on 05-11-2010
3- 2nd Lower top formation at 6229.45 on 20-05-2013
4- 3rd Lower top formation at 6142.50 on 19-09-2013
Conclusions from EOD chart analysis
As 3 times lower top formations since all time high formation in Jan 2008 therefore above mentioned resistances psychological at higher higher levels.
Nifty-EOD Chart (11-Oct-2013):-
 |
| Just click on chart for its enlarged view |
Hanging Man Bearish Candle formation on 11-10-2013
Conclusions from EOD chart analysis
Hanging Man candle means sell off after the market opens during an uptrend. However, by the end of the trading day, the market closes near the top the day. This signifies the potential for further follow up selling in the coming sessions. Trend reversal can be confirmation be by a black candlestick or a large down gap on the next trading day accompanied by a lower close.
Nifty-Intra Day Chart (11-Oct-2013):-
 |
| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channel.
3- Whole day actual trading between 6047-6107
Conclusions from intra day chart analysis
As up moves in Bearish Rising Channel therefore therefore emrgence of down moves possibility.
Conclusions (After Putting All Indicators Together)
All trends are up but selling patterns formations on intraday charts and Bearish candle formation also last Friday. As such down moves signals seen just below Falling trend lines from all time high therefore down moves in the beginning of coming week and finally sustaining beyond 5702-6142 will decide next Long Term Trend in the coming week.
Nifty Spot-Levels & Trading Strategy for 14-10-2013
Nifty Spot-Levels
R3 6181
R2 6144
R1 6120
Avg 6083
S1 6059
S2 6022
S3 5998
Nifty Spot-Trading Strategy
H6 6157 Trgt 2
H5 6143 Trgt 1
H4 6129 Long breakout
H3 6112 Go Short
H2 6107
H1 6101
L1 6090
L2 6084
L3 6079 Long
L4 6062 Short Breakout
L5 6048 Trgt 1
L6 6034 Trgt 2
R3 6181
R2 6144
R1 6120
Avg 6083
S1 6059
S2 6022
S3 5998
Nifty Spot-Trading Strategy
H6 6157 Trgt 2
H5 6143 Trgt 1
H4 6129 Long breakout
H3 6112 Go Short
H2 6107
H1 6101
L1 6090
L2 6084
L3 6079 Long
L4 6062 Short Breakout
L5 6048 Trgt 1
L6 6034 Trgt 2
Nifty(Oct Fut)-Levels & Trading Strategy for 14-10-2013
Nifty(Oct Fut)-Levels
R3 6229
R2 6186
R1 6158
Avg 6115
S1 6087
S2 6044
S3 6016
Nifty(Oct Fut)-Trading Strategy
H6 6201 Trgt 2
H5 6185 Trgt 1
H4 6169 Long breakout
H3 6149 Go Short
H2 6143
H1 6136
L1 6123
L2 6116
L3 6110 Long
L4 6090 Short Breakout
L5 6074 Trgt 1
L6 6058 Trgt 2
R3 6229
R2 6186
R1 6158
Avg 6115
S1 6087
S2 6044
S3 6016
Nifty(Oct Fut)-Trading Strategy
H6 6201 Trgt 2
H5 6185 Trgt 1
H4 6169 Long breakout
H3 6149 Go Short
H2 6143
H1 6136
L1 6123
L2 6116
L3 6110 Long
L4 6090 Short Breakout
L5 6074 Trgt 1
L6 6058 Trgt 2
Bank Nifty(Oct Fut)-Levels & Trading Strategy for 14-10-2013
Bank Nifty(Oct Fut)-Levels
R3 11154
R2 10931
R1 10803
Avg 10580
S1 10452
S2 10229
S3 10101
Bank Nifty(Oct Fut)-Trading Strategy
H6 11036 Trgt 2
H5 10952 Trgt 1
H4 10868 Long breakout
H3 10771 Go Short
H2 10739
H1 10707
L1 10642
L2 10610
L3 10578 Long
L4 10481 Short Breakout
L5 10397 Trgt 1
L6 10313 Trgt 2
R3 11154
R2 10931
R1 10803
Avg 10580
S1 10452
S2 10229
S3 10101
Bank Nifty(Oct Fut)-Trading Strategy
H6 11036 Trgt 2
H5 10952 Trgt 1
H4 10868 Long breakout
H3 10771 Go Short
H2 10739
H1 10707
L1 10642
L2 10610
L3 10578 Long
L4 10481 Short Breakout
L5 10397 Trgt 1
L6 10313 Trgt 2
Nifty Spot-Weekly Levels & Trading Strategy(Oct 14 to Oct 18,2013)
Nifty Spot-Weekly Levels
R3 6474
R2 6290
R1 6193
Avg 6009
S1 5912
S2 5728
S3 5631
Nifty Spot-Weekly Trading Strategy
H6 6390 Trgt 2
H5 6320 Trgt 1
H4 6250 Long breakout
H3 6173 Go Short
H2 6147
H1 6121
L1 6070
L2 6044
L3 6018 Long
L4 5941 Short Breakout
L5 5871 Trgt 1
L6 5801 Trgt 2
R3 6474
R2 6290
R1 6193
Avg 6009
S1 5912
S2 5728
S3 5631
Nifty Spot-Weekly Trading Strategy
H6 6390 Trgt 2
H5 6320 Trgt 1
H4 6250 Long breakout
H3 6173 Go Short
H2 6147
H1 6121
L1 6070
L2 6044
L3 6018 Long
L4 5941 Short Breakout
L5 5871 Trgt 1
L6 5801 Trgt 2
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