Pre-closing Outlook(06-11-2013)

Market is now trading near the lowest of the day but today intraday charts are showing only some selling patterns at higher levels and on the contrary consolidation patterns have also seen therefore emergence of on going correction completion signals.   

view is cautious today and deeper correction should be considered only after sustaining below 6194,finally sustaining above 6194 will mean rally continuation after correction completion..

Mid-session Outlook(06-11-2013)

Although selling at higher levels but down moves are also not showing required force therefore view is cautious and deeper correction should be considered only after sustaining below 6194. 

Post-open Outlook(06-11-2013)

Selling patterns formations seen between 

6260-6269.

Firstly Watch now next Supports at 6194

Technical Analysis and Market Outlook

(06-11-2013)

Nifty-Intra Day Chart (Nov 01 to Nov 01,2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 2 Sessions intraday charts

1- Selling in  Muhurat Trading session on 03-11-2013
2- Higher levels selling on 05-11-2013
3- Lower levels supports on 05-11-2013
4- 2 Sessions actual trading between 6244-6333 

Conclusions from 2 Sessions intra day chart analysis 

All trends are up but Short Term Indicators were overbought and sentiment was too much heated therefore we started to tell for very Short Term correction possibility from 01-11-2013 and it was seen also in both next sessions on 3rd and 5th November. As both higher levels selling and lower levels supports between 6244-6304 therefore Nifty closed between this range yesterday but very Short Term correction is on and some more correction can not be ruled out today because most Asian markets are in Red today morning. 

Next supports are at 6194 and slipping towards it can not be ruled out today because correction is on but sustaining beyond  6194 should be firstly watched today because that will give deeper correction or correction completion confirmation. As impulsive Wave-3 is on towards 6724.60 and on going down moves are only very Short Term correction therefore only limited down moves upto 6194 are being considered at this moment.

Mid-session Outlook(05-11-2013)

Although all trends are up but good intraday selling on 01-11-2013 therefore very Short Term correction within next 1/2 sessions was told which was seen immediately after opening today. As support also seen at 6248 today therefore sideways market will be seen between 6194-6330 and expected that Nifty will prepare for next decisive moves within this range and:-

1- Above 6330 will mean rally continuation after very Short Term correction completion within sideways market.
2- Below 6194 will mean deeper correction.

Firstly sustaining beyond 6194-6330 should be watched now for next trend confirmations.

Correction continuation

Post-open Outlook(05-11-2013)

When all Business News Channels and websites were telling for most Bullish and immediate rally then we told following lines in "Correction in Muhurat Trading session on 03-11-2013 on 01-11-2013":-

"finally Nifty will not sustain above today highest(6330) and will slip as well as close below today lowest(6293)"

As was told almost same happened and:-

1- Nifty could not sustain above 6330 in Muhurat Trading session on 03-11-2013.
2- Nifty opened below 6293 at 6282.15 today(immediate next trading session).
3- Correction is on and Nifty is more than 60 points down now with lowest formation at 6256.

Following line  was told in both Mid-session Outlooks on  01-11-2013:-

very Short Term correction possibility in the coming 1/2 sessions.

As was told 100% same happened within 1/2 sessions and very Short Term correction is being seen today,deeper correction will get confirmation after sustaining below 6194.

Mid-session Outlooks will be updated during trading hours today

Correction in Muhurat Trading session on 03-11-2013

Nifty-Intra Day Chart (01-Nov-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 6311-6330 
2- Whole day actual trading between 6293-6330

Conclusions from intra day chart analysis 

As whole day sideways trading within 37 points with clear selling patterns at higher levels therefore following line is being repeated which was told in both Mid-session Outlooks today:-

very Short Term correction possibility in the coming 1/2 sessions.

Although Muhurat Trading session opening can be projected at this moment but expected that finally Nifty will not sustain above today highest(6330) and will slip as well as close below today lowest(6293).

Pre-closing Outlook(01-11-2013)

Although Nifty Fut is now trading near the higher levels of today but intraday charts are showing selling patterns therefore very Short Term correction possibility in the coming 1/2 sessions.

.Mid-session Outlook(01-11-2013)

As intraday charts of first 3 hours are showing selling patterns indications therefore emergence of very Short Term correction possibility in the coming 1/2 sessions.

Rally continuation towards 6724.60

Nifty-Intra Day Chart (31-Oct-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 6240-6273
2- Lower levels supports and higher bottom formations.
3- Whole day actual trading between 6240-6309

Conclusions from intra day chart analysis 

Nifty crossed 6300 today but all the previous Outlooks of last weeks are live proofs of this fact that we told more than 25 times only for Bullish markets. Even when all were expecting Repo rate hike then also we told following line on 28-10-1913 ie one day before of RBI Credit Policy in Technical Analysis and Market Outlook(29-10-2013):-

finally impulsive Wave-3 will remain continued towards 6724.60 despite whatsoever RBI Credit policy on 29-10-2013 and FOMC declarations on 30-10-2013 night. 

Whatsoever was predicted all that proved 100% accurate and:-

1- Nifty closed 119.80 points up after RBI Credit policy on 29-10-2013. 
2- Nifty closed 47.45 points up after FOMC declarations today.

All wait for RBI Credit policy and FOMC declarations but we accurately predicted Indian markets well before with full confidence before the happening of above Economic events. 

Not only on 28-10-2013 but 'Archive' at the bottom of this 'Blog' is live proof of more than hundreds of such accurate and miraculous predictions in last 4 years. Anyone can verify this fact anytime from the 'Blog Archive'.

Although all the Global markets were weak after FOMC announcements today but Indian markets consolidated more than first 5 hours within flat to negative and range bound quiet moves. As strong recovery in last half hour and closing near the highest of the day today. As no selling seen yet therefore rally continuation towards 6724.60 will be seen in the coming sessions but volatility may be high because sentiment is heated and Short Term Indicators are overbought therefore market has to consolidate also. 

Nifty target at 6724.60 has already been updated on 21-10-2013 with calculations and Technical reasons. Just click following topic link and understand:-

Minimum target of Nifty at 6724.60

Pre-open Outlook(31-10-2013)

As sentiment turned heated after FOMC announcements therefore market has moved into consolidation phase and range bound quiet market today. Expected that on going rally will remain continued in the coming sessions after follow up consolidations because impulsive Wave-3 towards 6724.60 is continued.

Muhurat Trading session timings on Diwali

Just click on following picture for enlarged view of Muhurat date and timings

Post-open Outlook(31-10-2013)

As all the Global markets are weak after FOMC announcements therefore flat to negative Indian markets but finally impulsive Wave-3 towards 6724.60 will remain continued in the coming sessions.

Technical Analysis and Market Outlook(31-10-2013)

Nifty-Intra Day Chart (30-Oct-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Firstly down moves in Bullish Falling Channel.
2- Lower levels supports and higher bottom formations.
3- Up moves in Bearish Rising Channel.
4- Whole day actual trading between 6223-6269

Conclusions from intra day chart analysis 

Although both Bullish and and Bearish formations but lower levels supports and higher bottom formations with consolidations patterns also seen today therefore finally impulsive Wave-3 towards 6724.60 will remain continued in the coming sessions despite whatsoever FOMC declarations today at 11:30 PM IST.

Post-closing Report(30-10-2013)

As lower levels supports also seen therefore rally continuation hopes are alive.

Mid-session Outlook-2(30-10-2013)

Nifty crossed 5251 and now trading at 6257.Just watch sustaining above 6251 for immediate fast up moves confirmations.

Mid-session Outlook(30-10-2013)

Although positive zone trading since opening but completely under performing today therefore view is cautious and next up moves will be considered only after sustaining above 5251 because euphoria is building up and selling on the back of heated sentiments and strong Global cues can not be ruled today. 

Post-open Outlook(30-10-2013)

Nifty is hovering around 5251 and only sustaining it above should be watched today for immediate fast up moves within next couple of sessions. 

Pre-open Outlook(30-10-2013)

Sentiment strong today morning after Wall Street good closing yesterday and all positive Asian markets today therefore gap up opening will be seen in Indian markets today. Global markets are up amid expectations that US Fed will maintain its economic stimulus programme and tapering will start after Apr. 2014 therefore sentiment is boosted today morning and once sustaining above 6251 will mean strong rally as well as new high formation in the coming couple of sessions.

Technical Analysis and Market Outlook(30-10-2013)

Nifty-Intra Day Chart (29-Oct-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 6100-6148. 
2- Mixed Patterns between 6188-6224 in last 3 hours.
3- Whole day actual trading between 6079-6224.

Conclusions from intra day chart analysis 

Strong rally after good lower levels consolidations but mixed Patterns formations also seen in last 3 hours therefore firstly consolidation is required for next  decisive up moves.

Next resistances are between 6230-6251 and sustaining above 6251 will mean strong rally towards all time high but very short Term trend turned overbought after today strong rally therefore more consolidation is firstly required tomorrow for valid break out above 6251 because mixed Patterns formations were also seen in last 3 hours today. 

Much up moves are not firstly expected tomorrow and market will consolidate but high possibility of rally continuation in the coming sessions after follow up consolidations because All trends are up and impulsive Wave-3 continuation towards 6724.60 after very short Term correction today.