As emergence of BJP clear victory possibility in 4 states from Exit Poll results yesterday therefore higher levels consolidation is possible after strong opening. Sustaining above 6228 should be firstly watched today for next up moves confirmations because good selling seen below it in previous 3 sessions.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook-2(04-12-2013)
When Nifty was trading flat at 01:41 PM then we cautioned through following line in previous Outlook:-
Nfty traded 30 points down after slipping from higher levels few minutes before. Next strong support is at 6158 and sustaining below it will mean sharp fall.
higher levels selling in previous 2 sessions and follow up selling today also therefore view is cautious despite now flat trading
Mid-session Outlook(04-12-2013)
Although up moves seen after lower levels supports in first hour but higher levels selling also seen today. As higher levels selling in previous 2 sessions and follow up selling today also therefore view is cautious despite now flat trading after good recovery from lower levels and sustaining above today lowest(6180).
Post-open Outlook(04-12-2013)
As US and European markets closed in Red yesterday and most Asian markets were trading in negative zone therefore sentiment turned dampened today morning and weaker Indian markets since opening today but out performing also and only .25% down while some other Global markets were in Deep Red. Lower levels supports also seen today therefore it is first signal of consolidation and sustaining above today lowest(6180) will mean high possibility of strong markets tomorrow after Exit Poll results in the evening today.
Technical Analysis and Market Outlook(04-12-2013)
Nifty-Intra Day Chart (03-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- Follow up selling at higher levels.
2- Down moves in Bullish Falling Channel
3- Lower levels supports
3- Whole day actual trading between 6191-6224
As higher levels seen yesterday therefore only selling and down moves were told in all 3 Outlooks of yesterday and most time negative zone trading seen today. Higher levels follow up selling also seen today but down moves in Bullish Falling Channel and lower levels supports also seen therefore mixed trading patterns formations today and sustaining beyond previous 2 sessions trading range(6191-6228) should be firstly watched tomorrow for those next moves confirmations which have already been updated in following topic yesterday.
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1- Follow up selling at higher levels.
2- Down moves in Bullish Falling Channel
3- Lower levels supports
3- Whole day actual trading between 6191-6224
Conclusions from intra day chart analysis
As higher levels seen yesterday therefore only selling and down moves were told in all 3 Outlooks of yesterday and most time negative zone trading seen today. Higher levels follow up selling also seen today but down moves in Bullish Falling Channel and lower levels supports also seen therefore mixed trading patterns formations today and sustaining beyond previous 2 sessions trading range(6191-6228) should be firstly watched tomorrow for those next moves confirmations which have already been updated in following topic yesterday.
Pre-closing Outlook(03-12-2013)
Same views which have already been updated in all 4 previous Outlooks.
Mid-session Outlook(03-12-2013)
Only selling and down moves were told in all 3 previous Outlooks yesterday and most time negative zone trading seen today. As follow up selling seen today therefore very short term correction is expected now.
Technical Analysis and Market Outlook(03-12-2013)
Nifty-Intra Day Chart (02-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6215-6228
3- Whole day actual trading between 6193-6228
Although closing near the higher levels of the day but today intraday charts are showing higher levels selling therefore some down moves are expected tomorrow. Sustaining beyond today trading range will be next moves first indication and should be firstly watched tomorrow for:-
1- Very Short Term correction below 6193 or
2- Rally continuation above 6228.
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1- Selling between 6215-6228
3- Whole day actual trading between 6193-6228
Conclusions from intra day chart analysis
Although closing near the higher levels of the day but today intraday charts are showing higher levels selling therefore some down moves are expected tomorrow. Sustaining beyond today trading range will be next moves first indication and should be firstly watched tomorrow for:-
1- Very Short Term correction below 6193 or
2- Rally continuation above 6228.
Pre-closing Report(02-12-2013)
Although closing the higher levels of the day but today intraday charts are showing higher levels selling indications therefore sustaining beyond today trading range will be next moves first indication and should be firstly watched tomorrow.
Mid-session Outlook(02-12-2013)
Although now near the higher levels of the day at this moment but today intraday charts are showing selling indications therefore some volatility may be seen between today trading range(6172-6228) and very short term correction will be considered below 6172
Technical Analysis,Research & Weekly Outlook (Dec 02 to Dec 06,2013)
Nifty-EOD Chart (29-Nov-2013):-
Technical Patterns and Formations in EOD charts
1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-3(6342.95 on 03-11-2013 and 'ABC' correction beginning)
5- Wave-A(5972.45 on 13-11-2013)
6- Wave-B(6212.40 on 19-11-2013)
7- Wave-C(5972.80 on 22-11-2013)
8- Double bottom support at 5972 and 'ABC' correction completion.
Conclusions from EOD chart analysis
Wave-3 continuation after 'ABC' correction completion and recent top formation at 6182.50 on 29-11-2013
Nifty-Intra Day Chart (29-Nov-2013):-
Technical Patterns and Formations in today intraday charts
1- More than 1% recovery within first 20 minutes.
2- More than 6 hours trading between 6158-6182.
Conclusions from intra day chart analysis
More than 1% recovery within first 20 minutes after positive opening and after that more than 6 hours range bound trading between 6158-6182 are strong indication of rally continuation because much higher levels trading without selling patterns formations and it will be strong indication of consolidation.
All trends are up and Wave-3 continuation after 'ABC' correction completion and its minimum target is at 6724.60,its calculation has already been updated in following topic link and expected that up moves will begin after fresh consolidation in the coming week / weeks.
Next strong resistance are between 6186-6212 and Nifty traded more than 6 hours with strong indication of consolidation just below it between 6158-6182 on 29-11-2013 therefore high possibility of on going rally continuation. As next resistances are strong therefore follow up consolidation is firstly required in the beginning of next week and once sustaining above 6212 will mean fast rally and new all time high formation in next week / weeks.
For immediate next moves confirmations sustaining beyond 6158-6212 should be firstly watched in the beginning of coming week and once sustaining above 6212 will mean rally continuation towards recent top at 6342.95 and such up moves are expected also in the coming sessions and weeks.
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1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-3(6342.95 on 03-11-2013 and 'ABC' correction beginning)
5- Wave-A(5972.45 on 13-11-2013)
6- Wave-B(6212.40 on 19-11-2013)
7- Wave-C(5972.80 on 22-11-2013)
8- Double bottom support at 5972 and 'ABC' correction completion.
Conclusions from EOD chart analysis
Wave-3 continuation after 'ABC' correction completion and recent top formation at 6182.50 on 29-11-2013
Nifty-Intra Day Chart (29-Nov-2013):-
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1- More than 1% recovery within first 20 minutes.
2- More than 6 hours trading between 6158-6182.
Conclusions from intra day chart analysis
More than 1% recovery within first 20 minutes after positive opening and after that more than 6 hours range bound trading between 6158-6182 are strong indication of rally continuation because much higher levels trading without selling patterns formations and it will be strong indication of consolidation.
Conclusions (After Putting All Indicators Together)
All trends are up and Wave-3 continuation after 'ABC' correction completion and its minimum target is at 6724.60,its calculation has already been updated in following topic link and expected that up moves will begin after fresh consolidation in the coming week / weeks.
Next strong resistance are between 6186-6212 and Nifty traded more than 6 hours with strong indication of consolidation just below it between 6158-6182 on 29-11-2013 therefore high possibility of on going rally continuation. As next resistances are strong therefore follow up consolidation is firstly required in the beginning of next week and once sustaining above 6212 will mean fast rally and new all time high formation in next week / weeks.
For immediate next moves confirmations sustaining beyond 6158-6212 should be firstly watched in the beginning of coming week and once sustaining above 6212 will mean rally continuation towards recent top at 6342.95 and such up moves are expected also in the coming sessions and weeks.
Pre-closing Outlook(29-11-2013)
More than 1% recovery within first 20 minutes and after that most time trading at higher levels between 6160-6182 and sustaining also just below next resistance(6186-6212) as well. As almost 6 hours sustaining at higher levels therefore high possibility of on going rally continuation in next week but next moves confirmation is also firstly required through sustaining beyond 6160-6212 .
Post-open Outlook(29-11-2013)
Following projection were done yesterday in Technical Analysis and Market Outlook(29-11-2013):-
1- impulsive Wave-3 continuation after correction completion.
2- fast up moves towards next strong resistance(6186-6212)
3- Once sustaining above 6212 will mean rally continuation towards recent top at 6342.95
1- impulsive Wave-3 continuation after correction completion.
2- fast up moves towards next strong resistance(6186-6212)
3- Once sustaining above 6212 will mean rally continuation towards recent top at 6342.95
Recent top formation at 6182.40 today after fast up moves immediately after opening and firstly more consolidation is required now because strong resistance(6186-6212) are just above today highest. Only sustaining above 6212 should be watched for fast rally and new all time high formation in next week/weeks.
Technical Analysis and Market Outlook(29-11-2013)
Nifty-Intra Day Chart (28-Nov-2013):-
Technical Patterns and Formations in today intraday charts
1- Higher levels selling.
2- Down moves in Bullish Falling Channel.
3- Strong recovery from lower levels in last half hour.
4- Whole day actual trading between 6070-6112
Although higher levels selling but down moves in Bullish Falling Channel therefore strong recovery from lower levels in last half hour and impulsive Wave-3 continuation after correction completion.
As some selling at higher levels today therefore only only sustaining above today highest should be watched for confirmations because that will mean fast up moves towards next strong resistance(6186-6212). Once sustaining above 6212 will mean rally continuation towards recent top at 6342.95 and such up moves are expected also in the coming sessions and weeks.
As sentiment may be heated tomorrow therefore some intraday volatility after profit booking may be seen and Long positions should be created after completion of intraday corrections.
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1- Higher levels selling.
2- Down moves in Bullish Falling Channel.
3- Strong recovery from lower levels in last half hour.
4- Whole day actual trading between 6070-6112
Conclusions from intra day chart analysis
Although higher levels selling but down moves in Bullish Falling Channel therefore strong recovery from lower levels in last half hour and impulsive Wave-3 continuation after correction completion.
As some selling at higher levels today therefore only only sustaining above today highest should be watched for confirmations because that will mean fast up moves towards next strong resistance(6186-6212). Once sustaining above 6212 will mean rally continuation towards recent top at 6342.95 and such up moves are expected also in the coming sessions and weeks.
As sentiment may be heated tomorrow therefore some intraday volatility after profit booking may be seen and Long positions should be created after completion of intraday corrections.
Technical Analysis and Market Outlook(28-11-2013)
Nifty-Intra Day Chart (27-Nov-2013):-
Technical Patterns and Formations in today intraday charts
1-Down moves in Bullish Falling Channel.
2-Consolidation between 6031-6048
3- Whole day actual trading between -
As firstly down moves in Bullish Falling Channel and after that lower levels consolidation therefore following conclusions are being repeated which were updated in both previous Outlooks yesterday:-
1- emergence of fresh up move expectations.
2- emergence of rally expectations in next derivative month
3- Next crucial and big trend deciding support is at 5972 and expected that Nifty will not sustain below it despite continuous slipping.
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1-Down moves in Bullish Falling Channel.
2-Consolidation between 6031-6048
3- Whole day actual trading between -
Conclusions from intra day chart analysis
As firstly down moves in Bullish Falling Channel and after that lower levels consolidation therefore following conclusions are being repeated which were updated in both previous Outlooks yesterday:-
1- emergence of fresh up move expectations.
2- emergence of rally expectations in next derivative month
3- Next crucial and big trend deciding support is at 5972 and expected that Nifty will not sustain below it despite continuous slipping.
Mid-session Outlook-2(27-11-2013)
Although continuous down yesterday and since opening today but without force therefore consolidation indications and emergence of rally expectations in next derivative month. Next crucial and big trend deciding support is at 5972 and expected that Nifty will not sustain below it despite continuous slipping.
Mid-session Outlook(27-11-2013)
Although continuous down since opening today but without force therefore consolidation indications and emergence of fresh up move expectations.
Technical Analysis and Market Outlook(27-11-2013)
Nifty-Intra Day Chart (26-Nov-2013):-
Technical Patterns and Formations in today intraday charts
1- Down moves with continuous selling patterns formations.
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between -
Although down moves with continuous selling patterns formations but in Bullish Falling Channel also therefore today intraday charts are not showing any clear pattern. As strong rally with good intraday consolidation yesterday therefore today down moves will be understood an excise for cooling of heated sentiment and a part of consolidation as well.
Impulsive Wave-3 continuation after correction completion and expected that rally will remain continued in the coming sessions but next strong resistances are between 6186-6212 therefore coming 2/3 sessions may remain sideways between between 5972-6212 and rally may be seen in next derivative month.
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1- Down moves with continuous selling patterns formations.
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between -
Conclusions from intra day chart analysis
Although down moves with continuous selling patterns formations but in Bullish Falling Channel also therefore today intraday charts are not showing any clear pattern. As strong rally with good intraday consolidation yesterday therefore today down moves will be understood an excise for cooling of heated sentiment and a part of consolidation as well.
Impulsive Wave-3 continuation after correction completion and expected that rally will remain continued in the coming sessions but next strong resistances are between 6186-6212 therefore coming 2/3 sessions may remain sideways between between 5972-6212 and rally may be seen in next derivative month.
Expected that Nifty will firstly prepare for next moves between 6058-6123 and sustaining beyond this range will be next immediate moves confirmation but high possibility of rally continuation above 6123.
Pre-open Outlook(26-11-2013)
As US markets closed flat after slipping from intraday higher levels therefore sentiment is little dampened and all the Asian markets are flat to weak today morning,resultant negative zone opening is expected in Indian markets. Impulsive Wave-3 begun after correction completion yesterday therefore expected that rally will remain continued in the coming sessions but next strong resistances are between 6186-6212 therefore coming 2/3 sessions may remain sideways between between 5972-6212 and rally may be seen in next derivative month.
Expected that Nifty will firstly prepare for next moves between 6058-6123 today and sustaining beyond this range will be next immediate moves confirmation.
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