Forceful break out of last 3 sessions range does mean high possibility of rally continuation after 3 sessions sideways correction completion and confirmation will be after sustaining above 6302 and should be firstly watched today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(27-12-2013)
Nifty-Intra Day Chart (26-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- High volatility
2- First 2 hours trading with with Bearish Rising Channel.
3- Selling between 6284-6292
4- Whole day trading between 6260-6302
First 2 hours trading with with Bearish Rising Channel and selling patterns formations also between 6284-6292 therefore following lines were told in Mid-session Outlook at 01:01 PM today:-
1- now trading also near the highest levels of today but some indications of selling today
2- next up moves confirmations will be after valid break out above 6292.
As selling therefore Nifty could not sustain above 6292 and closed below it at 6,278.90. Until Nifty will not sustain above 6292 till then next up move will not be considered and valid break out of today trading range(6260-6302) should also be firstly watched for next immediate moves confirmations because technical positions reversed also in today like highly volatile markets.
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1- High volatility
2- First 2 hours trading with with Bearish Rising Channel.
3- Selling between 6284-6292
4- Whole day trading between 6260-6302
Conclusions from intra day chart analysis
First 2 hours trading with with Bearish Rising Channel and selling patterns formations also between 6284-6292 therefore following lines were told in Mid-session Outlook at 01:01 PM today:-
1- now trading also near the highest levels of today but some indications of selling today
2- next up moves confirmations will be after valid break out above 6292.
As selling therefore Nifty could not sustain above 6292 and closed below it at 6,278.90. Until Nifty will not sustain above 6292 till then next up move will not be considered and valid break out of today trading range(6260-6302) should also be firstly watched for next immediate moves confirmations because technical positions reversed also in today like highly volatile markets.
Pre-closing Outlook(26-12-2013)
As selling at higher levels today therefore Nifty did not sustaining at higher levels and slipped but high volatility today and until Nifty will not sustaining above 6292 till then next up move will not be considered because selling seen just below it today and selling was updated also in previous Outlook at 01:01 PM today.
Mid-session Outlook(26-12-2013)
Positive zone trading since opening and now trading also near the highest levels of today but some indications of selling today therefore next up moves confirmations will be after valid break out above 6292.
Technical Analysis and Market Outlook(26-12-2013)
Nifty-Intra Day Chart (24-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- More than 4 hours trading between 6281-6301.
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between 6262-6301.
Whole day range bound trading between 39 points with firstly more than 4 hours trading between 6281-6301 and without as such selling patterns formations despite afterward down moves and closing near the lowest levels of the day. As down moves in Bullish Falling Channel and first 4 hours trading is also not showing as such intraday selling patterns therefore generation of consolidation signals also in a negaive zone closing day.
Indian markets are not prepared for any side decisive moves and will have to prepare for next trend between 6230-6380 in the coming sessions for next huge moves. Let market prepare for next trend then will be updated according to the confirmations from the intraday charts formations and for confirmations sustaining beyond following ranges should be watched:-
1- 6230-6380(For first strong indications of next trend)
2- 6130-6380(For the confirmations of next trend)
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1- More than 4 hours trading between 6281-6301.
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between 6262-6301.
Conclusions from intra day chart analysis
Whole day range bound trading between 39 points with firstly more than 4 hours trading between 6281-6301 and without as such selling patterns formations despite afterward down moves and closing near the lowest levels of the day. As down moves in Bullish Falling Channel and first 4 hours trading is also not showing as such intraday selling patterns therefore generation of consolidation signals also in a negaive zone closing day.
Indian markets are not prepared for any side decisive moves and will have to prepare for next trend between 6230-6380 in the coming sessions for next huge moves. Let market prepare for next trend then will be updated according to the confirmations from the intraday charts formations and for confirmations sustaining beyond following ranges should be watched:-
1- 6230-6380(For first strong indications of next trend)
2- 6130-6380(For the confirmations of next trend)
Mid-session Outlook(24-12-2013)
Following lines were told yesterday in Technical Analysis and Market Outlook(24-12-2013):-
1- Indian markets are not prepared for any side decisive moves and
2- will firstly prepared for next trend between 6230-6380 in the coming sessions for next huge moves.
As was told same happened and markets traded and preparing for next decisive moves within mentioned range since opening today. Although Nifty slipped from higher levels but not showing as such selling patterns and is a signal of consolidation as well. Now sustaining beyond following ranges should be watched:-
1- 6230-6380(For first strong indications of next trend)
2- 6130-6380(For the confirmations of next trend)
1- Indian markets are not prepared for any side decisive moves and
2- will firstly prepared for next trend between 6230-6380 in the coming sessions for next huge moves.
As was told same happened and markets traded and preparing for next decisive moves within mentioned range since opening today. Although Nifty slipped from higher levels but not showing as such selling patterns and is a signal of consolidation as well. Now sustaining beyond following ranges should be watched:-
1- 6230-6380(For first strong indications of next trend)
2- 6130-6380(For the confirmations of next trend)
Technical Analysis and Market Outlook(24-12-2013)
Nifty-Intra Day Chart (23-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6267-6315
2- Sharp down moves in last hour.
3- Whole day actual trading between 6272-6315
Although intraday correction through sharp down moves in last hour but its possibility was updated well before its happening and following line was told at 11:56 AM in Mid-session Outlook:-
Next strong resistances are between 6350-6380 and follow up selling seen below this range between 6267-6315 today but impulsive Wave-3 continuation and all trends are up as well as market is not prepared for deeper correction because only one day today selling after good consolidations in previous week.
As complete selling is also required for any big correction and more consolidation is also required for sustaining above 6315 and 6380 therefore Indian markets are not prepared for any side decisive moves and will firstly prepared for next trend between 6230-6380 in the coming sessions for next huge moves.
Expected that finally Nifty will sustain above 6380 and decisive strong rally will be seen after follow up consolidations in the coming sessions/week. Let market prepare then will be updated according to the completion of intraday charts formations in the same manner as being done for the last more than 4 years.
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1- Selling between 6267-6315
2- Sharp down moves in last hour.
3- Whole day actual trading between 6272-6315
Conclusions from intra day chart analysis
Although intraday correction through sharp down moves in last hour but its possibility was updated well before its happening and following line was told at 11:56 AM in Mid-session Outlook:-
some indications of profit booking today therefore emergence of minor intraday correction possibility
Next strong resistances are between 6350-6380 and follow up selling seen below this range between 6267-6315 today but impulsive Wave-3 continuation and all trends are up as well as market is not prepared for deeper correction because only one day today selling after good consolidations in previous week.
As complete selling is also required for any big correction and more consolidation is also required for sustaining above 6315 and 6380 therefore Indian markets are not prepared for any side decisive moves and will firstly prepared for next trend between 6230-6380 in the coming sessions for next huge moves.
Expected that finally Nifty will sustain above 6380 and decisive strong rally will be seen after follow up consolidations in the coming sessions/week. Let market prepare then will be updated according to the completion of intraday charts formations in the same manner as being done for the last more than 4 years.
Mid-session Outlook-3(23-12-2013)
Following lines were told at 11:56 AM in Mid-session Outlook:-
1- More than 2 hours positive zone trading between 6288-6310
2- some indications of profit booking today therefore emergence of minor intraday correction possibility
As some indications of profit booking today therefore Nifty slipped below 6288 and if sustains below it only then very Short Term correction will be considered.
1- More than 2 hours positive zone trading between 6288-6310
2- some indications of profit booking today therefore emergence of minor intraday correction possibility
As some indications of profit booking today therefore Nifty slipped below 6288 and if sustains below it only then very Short Term correction will be considered.
Mid-session Outlook-2(23-12-2013)
Quiet range bound market between 6288-6310 since opening and preparing for next blast today because next strong resistances are between 6350-6380 and market require complete consolidations for decisive and strong rally above 6380 as well as complete selling is also required for any big correction. Let market prepare then will be updated according to the completion of intraday charts formations and valid break out of 6288-6310 will be very Short Term trend first signal therefore should be firstly watched now.
Mid-session Outlook(23-12-2013)
More than 2 hours positive zone trading between 6288-6310 with some indications of profit booking today therefore emergence of minor intraday correction possibility and valid break out of this range will be very Short Term trend first signal.
Rally continuation towards 6724.60
Technical Analysis,Research & Weekly Outlook
(Dec 23 to Dec 27,2013)
Nifty-EOD Chart (20-Dec-2013):- |
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1- Rally beginning after 13 Months Wave-2 correction completion at 4531.15 on 20-12-2011.
2- Wave-1(5629.95 on 22-02-2012)
3- Wave-2(4770.35 on 04-06-2012)
4- Wave-3(6111.80 on 29-01-2013)
5- Wave-4(5477.20 on 10-04-2012)
6- Wave-5(6229.45 on 20-05-2013)('ABC'Correction beginning after 17 Months Rally completion)
7- Wave-A(5566.25 on 24-06-2013)
8- Wave-B(6093.35 on 23-07-2013)
9- Wave-C(5118.85 on 28-08-2013)('ABC'Correction completion after 3 Months correction completion)
10- Strong Rally continuation and new all time high formation at 6415.25 on 09-12-2013.
Conclusions from EOD chart analysis
Strong Rally is on after ABC'Correction completion on 28-08-2013,Waves structure of this rally with following conclusions has already been updated 15-12-2013 in "Nifty at Most Crucial and Strong Support Range";-
1- 6141-6156 has become most crucial strong support range and consolidation pattern formation just above it on 13-12-2013
2- emergence of correction completion possibility near about mentioned range
As was told on 15-12-2013 all that proved 100% accurate in previous week and Nifty reversed from 6129.95 after getting support just below 6141 and weekly closing was at the highest of the week after correction completion.
Nifty-EOD Chart (20-Dec-2013):-
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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-i of Wave-3(6342.95 on 03-11-2013)
5- Wave-ii of Wave-3(5972.45 on 13-11-2013)
6- Wave-iii of Wave-3(6415.25 on 09-12-2013)
7- Wave-iv of Wave-3(6129.95 on 18-12-2013)
8- Wave-v of Wave-3 continuation with recent top formation at 6274.25 on 20-12-2013.
Conclusions from EOD chart analysis
Long and Intermediate Term Trends were up and Short Term turned up after correction completion confirmation on 20-12-2013. Now all trends are up and Wave-3 continuation towards minimum target of Nifty at 6724.60. Its calculation has already been updated in following topic on 21-10-2013:-
Conclusions (After Putting All Indicators Together)
Strong rally last Friday after good consolidation above 6130 in previous week therefore until complete selling will not happen till then Nifty will not slip below 6130.As no selling seen at higher levels in previous week therefore no risk of immediate down moves but some resistances up to all time high(6415.25) therefore follow up consolidation is required in next week for sustaining above it.
Rally continuation towards 6724.60 is expected in the coming weeks after follow up consolidations.
Pre-closing Outlook(20-12-2013)
Although Nifty closed at the lowest of the day after loosing 50 points but we were Bullish and posted following topic yesterday:-
As was told 100% same happened and Nifty is now trading 115 points up. and rally continuation is expected in the coming sessions after follow up consolidations because some resistances are higher levels.
As was told 100% same happened and Nifty is now trading 115 points up. and rally continuation is expected in the coming sessions after follow up consolidations because some resistances are higher levels.
Mid-session Outlook-2(20-12-2013)
Good up moves after lower levels supports and consolidation patterns formations but some resistances also seen between 6227-6236 therefore firstly sustaining beyond this range should be watched for next immediate moves confirmations. Now Nifty is trading at 6226.
Mid-session Outlook(20-12-2013)
Sideways trading since opening with lower levels supports and consolidation patterns formations.
Post-open Outlook(20-12-2013)
Positive zone trading since opening today,sustaining above 6203 will be first strong signal of rally after Correction Completion and sustaining beyond 6141-6270 should be firstly for next trend confirmations.
Fresh Up Moves Possibility after Correction Completion
Nifty-Intra Day Chart (19-Dec-2013):- |
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1- Sharp down moves in first 6 minutes and after that whole day range bound market between 6150-6203.
2- Up moves in Bearish Rising Channels
3- Down moves showing good intraday correction
4- Lower levels Rising trend line supports.
5- Most time actual trading between 6150-6203
Conclusions from intra day chart analysis
Long and Intermediate Term Trends are up and Short Term turned down after correction beginning from 6415.25 on 09-12-2013. Last 6 sessions trading between 6141-6270 and sustaining beyond this range should be firstly watched in the coming sessions for next big trend confirmations because lower levels consolidations between 6141-6156 and higher levels selling between 6258-6270 as well as both big news news of RBI Credit policy and FOMC tapering reaction within this range.
Sharp down immediate after opening today and most time trading 6150-6203 and closing near the lower levels of the day but both bullish and bearish patterns seen as well as news based high volatility was also seen in last 2 sessions therefore technically final conclusions can not be drawn mere from intraday charts formations.
As intraday charts of last 5 sessions are showing most time consolidation and lower levels Rising trend line supports also seen today therefore emergence of correction completion and fresh up moves possibility in the coming sessions and weeks after Short Term Trend turning up. As no confirmation yet therefore firstly sustaining above 6141 and finally sustaining above 6270 should be watched for Wave-3 continuation after Short Term correction completion.
Post-open Outlook(19-12-2013)
As last 4 hours trading between 6198-6230 with mixed patterns also seen yesterday therefore sustaining beyond 6141-6270 was told in all the previous 3 Outlooks and should be firstly watched after news based highly volatile markets today and yesterday.
Pre-open Outlook(19-12-2013)
As 10% tapering by FOMC therefore Global markets strong rally and Indian markets will also participate through gap up opening but next resistance between 6258-6270 and sustaining above 6270 will mean strong rally after correction completion confirmation and only sustaining above 6270 should be firstly watched in the coming sessions.
Just Watch 6141-6270 for next trend confirmations
Technical Analysis and Market Outlook
(19-12-2013)
Nifty-Intra Day Chart (18-Dec-2013):-(19-12-2013)
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1- Consolidation between 6144-7177.
2- Sharp up after RBI Credit Policy.
3- Last 4 hours trading between 6198-6230 with lower levels supports and higher levels selling patterns formations.
4- Whole day actual trading between 6144-6230
Conclusions from intra day chart analysis
Long and Intermediate Term Trends are up and Short Term turned down after correction beginning from 6415.25 on 09-12-2013. Nifty got support near about most crucial and strong support range(6141-6156) in last 2 sessions and strong recovery seen today after RBI Credit Policy but last 4 hours trading between 6198-6230 with mixed patterns also seen today therefore valid break out of mentioned range should be firstly watched tomorrow for following next immediate moves confirmations:-
1- Above 6230 will mean next up moves up to next resistance(6258-6270) and sustaining above 6270 will be fresh rally confirmation after sustaining above 6270. Although today closing at the highest of the day but view will be Bullish after sustaining above 6270 despite whatsoever QE-3 tapering decision by FOMC tonight.
2- Below 6198 will mean down moves towards next strong support range(6141-6156) and deeper correction confirmation will be after sustaining below 6141.
Finally sustaining beyond 6141-6270 should be watched for next trend confirmations in the coming sessions after RBI Credit policy today and expected QE-3 tapering decision by FOMC tonight.
Pre-closing Outlook(18-12-2013)
Last 4 hours trading between 6198-6236 with slow up moves within this range which is a minor selling indication but lower levels supports also seen therefore valid break out of mentioned range should be firstly watched tomorrow for next immediate moves confirmations.
Mid-session Outlook(18-12-2013)
Strong recovery after RBI Credit Policy and after that last 3 hours trading between 6198-6236 with slow up moves within this range which is a minor selling indication therefore valid break out of mentioned range should be watched for next immediate move confirmations.
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