Technical Analysis and Market Outlook(24-01-2014)

Nifty-Intra Day Chart (23-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6325-6335
2- Up moves with consolidations.
3- Whole day actual trading between 6325-6355

Conclusions from intra day chart analysis 

Although all the Global markets were in negative zone and some were in deep Red as well as Dow Futures was also down by more than 70 points but Indian markets outperformed and traded first 3 hours with minor losses. As firstly lower levels and after that up moves in consolidation patterns therefore emergence of rally continuation hopes. 

Wave-v of Wave-3 is on for next rally above all time high but this Wave has not shown required strength and turned range bound because next Union Govt. stability after Parliamentary Elections had turned doubtful due to BJP votes cutting by Aam Admi Party and resultant expectations of weaker Government formations after Union Elections-2014. As Aam Admi Party popularity has reduced sharply due to Arvind Kejriwal's dharna and his governance incompetency therefore again emergence of strong Government formations under the leadership on Narendra Modi and resultant Indian markets has started to show strength and started higher levels consolidations.

26 sessions trading between 6130-6415 with following Resistances positions:-

1- 1st Resistance between 6324-6356
2- 2nd Resistance between 6360-6387

1st Resistance(6356) has almost been cleared today with today highest formation at 6355.60 but more follow up consolidation is required and once sustaining above 6387 will mean Wave-v of Wave-3 continuation above all time high. 

As busy therefore Mid-session Outlooks could not be updated today 

Technical Analysis and Market Outlook(23-01-2014)

Nifty-Intra Day Chart (22-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Almost 4 hours trading with mixed patterns between 6310-6330 
2- Whole day actual trading between 6288-6349.

Conclusions from intra day chart analysis 

Although almost 4 hours trading with mixed patterns between 6310-6330 and break out of this range in last hour but confirmation is firstly required through sustaining above 6330 for any decisive up moves and it should be firstly watched tomorrow.

Indian markets are not trending but sideways for the last 25 sessions between 6130-6415 with following technical positions:-

1- 1st Resistance between 6324-6356
2- 2nd Resistance between 6360-6387
3- 1st Support between 6232-6266
4- 2nd Support between 6130-6186

Following trading ranges should be watched for:-

1- next trend 1st strong indication:- 6232-6356
2- next trend confirmations:- 6130-6387

Mid-session Outlook(22-01-2014)

Following line was told in previous Outlook yesterday:-

slipping below 5298 and very Short Term correction is expected tomorrow

As was told 100% same happened and Nifty slipped below 6298 but recovered also from lower levels after lowest formation at 6287.45. As today up moves are without force therefore finally down moves are expected after follow up selling and following range should be watched for:-

1- next trend 1st strong indication:- 6232-6356
2- next trend confirmations:- 6130-6387

Very Short Term correction on cards

Technical Analysis and Market Outlook

(22-01-2014)

Nifty-Intra Day Chart (21-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6321-6330
2- Selling between 6314-6325 
3- Supports between 6298-6305
3- Whole day actual trading between 6298-6330

Conclusions from intra day chart analysis 

Although minor supports at lower levels but good selling at higher levels today therefore finally slipping below 5298 and very Short Term correction is expected tomorrow.

NIFTY-Jan Put Option(6200)-Positional-Buying Trade

NIFTY-Jan PE(6200)-Buy-Positional-SL-04 & TGT-49-CMP-15.25(Lalit39)

Mid-session Outlook(21-01-2014)

Sideways quiet market with first 2 hours selling and some supports and recovery also from lower levels also in last 1 hour therefore expected that Nifty will trade few more time within today trading range(6298-6330) but finally slipping below 5298 is possible because most time selling patterns formations today.

Technical Analysis and Market Outlook(21-01-2014)

Nifty-Intra Day Chart (20-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours today trading between 6274-6306
2- Selling patterns formation between 6296-6303
3- Consolidation between 6274-6286 
4- Selling patterns formation between 6301-6306  
5- Whole day actual trading between 6244-6306

Conclusions from intra day chart analysis 

23 sessions trading between 6130-6415 with following technical positions:-

1- 1st Resistance between 6324-6356
2- 2nd Resistance between 6360-6387
3- 1st Support between 6232-6266
4- 2nd Support between 6130-6186

More than 5 hours today trading between 6274-6306 with higher levels selling and lower levels buying therefore valid break out of this range will be next very Short Term moves confirmation. As multiple resistances above and multiple supports below  above mentioned more than 5 hours today trading range therefore follow up consolidation is required for sustaining above 6387 and all time high as well as in the same manner complete selling is also must for sustaining below 23 sessions lowest(6130).

Only intraday volatility seen in last 2 sessions and Nifty could not sustain above last Thursday selling range(6300-6346) and follow up selling also seen just below it between 6296-6306 today therefore view is not Bullish despite today closing near the highest of today.

Indian markets are not trending but only sideways therefore next trend will get confirmations after sustaining beyond last 23 sessions range 6130-6387 and sustaining beyond above mentioned supports and resistances should be used for next decisive big trend 1st indication and final confirmation.

Mid-session Outlook(20-01-2014)

Indian markets are not trending but sideways and only intraday volatility is being seen therefore last Friday down moves and today up moves. Indian markets are not not prepared for any side decisive moves and being prepare for next decisive trend therefore next trend deciding ranges have  already been been updated in previous Outlook yesterday.

As last 4 hours intraday charts are showing consolidation indications between 6274-6304 therefore emergence of hopes for Bulls and 1st strong signal of decisive up moves will be after sustaining above previous week highest(6346),should be firstly watched for confirmations.

RIL-Jan Put Option(880)-Positional Buying of 16-01-2014-Covering

RIL-Jan PE(880)-Bought on 16-01-2014-Cover and book profit immediately-CMP-17.60(Lalit39)

Technical Analysis,Research & Weekly Outlook(Jan 20 to Jan 24,2014)

Nifty-EOD Chart (17-Jan-2014):-

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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-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 with descending triangle pattern formation in last 22 sessions between 6130-6415.

Conclusions from EOD chart analysis 

Wave-v of Wave-3 is on for next rally above all time high but this Wave has not shown required strength and turned range bound because next Union Govt. stability after Parliamentary Elections has turned at stake due to the possibility of BJP votes cutting by Aam Admi Party and resultant expectations of weaker Government formations after Union Elections-2014. 

Nifty-Intra Day Chart (17-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8320-6338 
2- Fast down
3- Down moves in Bullish Falling Channel
4- Support between 6286-6391
5- Up moves in Bearish Rising Channel
6- Steep Fall
7- Last more than trading with mixed trading patterns between 6247-6272
8- Whole day actual trading between 6247-6338
(All levels are Jan Fut)

Conclusions from intra day chart analysis 

Almost 6 hours down moves with higher levels good selling and minor consolidation as well as closing near the lower levels of the day therefore  emergence of deeper correction possibility. As last more than 2 hours trading with mixed trading patterns between 6247-6272 therefore sustaining it beyond should be firstly watched for the confirmation of deeper correction possibility.

Conclusions (After Putting All Studies Together)

Long Term trend is up,Short Term trend is down and Intermediate Term Trend is sideways for the last 22 sessions between 6130-6415 with descending triangle pattern formation and valid break out  of this range will decide next big trend. As higher levels selling in last 2 sessions therefore until Nifty will not sustain above previous week highest(6346) till then next up moves will not be considered. Although markets recovered from lower levels in previous week but on the back of above expectations quarterly results and intraday selling was seen within 6165-6235 between 06-01-2014-10-01-0=2014 also therefore if follow up selling develop in the beginning of next week then sharp fall will be seen therefore complete consolidation is firstly required for any rally. 

As 22 sessions range bound market between 6130-6415 with descending triangle pattern therefore Nifty has to prepare for next trend and decisive moves within it and firstly sustaining beyond mentioned triangle and after that finally mentioned range should be watched for next next big trend confirmations. 

Mid-session Outlook-2(17-01-2014)

6284 broken down forcefully and emergence of deeper correction possibility.

Mid-session Outlook(17-01-2014)

As selling therefore very Short Term Correction was was told yesterday and it is being seen since opening today through whole day negative zone trading but last more than 2 hours intraday patterns are showing consolidation patterns formations and lower levels supports as well therefore sustaining beyond 6284--6358 should be firstly watched for next immediate trend confirmations.

Technical Analysis and Market Outlook(17-01-2014)

Nifty-Intra Day Chart (16-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 6328-6346
2- Support between 6300-6312
3- Selling patterns formation between 6324-6332
4- Whole day actual trading between 6300-6346

Conclusions from intra day chart analysis 

Although some supports at lower levels but higher levels selling also seen today therefore very short term correction is expected in the coming sessions because:-

1- selling below 6325 on 14-01-2014
2- Today follow up selling within previous resistances between 6260-6358

RIL-Jan Put Option(880)-Positional-Buying Trade

RIL-Jan PE(880)-Buy-Positional-SL-6.90 & TGT-19.90-CMP-13.00(Lalit39)

Mid-session Outlook(16-01-2014)

As selling below 6325 yesterday therefore following line was told in previous Outlook yesterday:-

until Nifty will not sustain above today highest till then next up moves will not be considered.

As was told 100% same happened and Nifty could not sustain above 6325 and slipped below it immediately after opening today despite positive Global cues today morning

As some supports also seen at lower levels today therefore valid break out of today trading range(4300-4346) will ne next immediate moves confirmations.

BHARTI-Jan Put Option(320)-Positional Buying of 14-01-2014-Covering

BHARTI-Jan PE(320)-Bought on 14-01-2014-Target achieved,Cover and book profit immediately-CMP-6.40(Lalit39)

Technical Analysis and Market Outlook(16-01-2014)

Nifty-Intra Day Chart (15-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6307-6316.
2- Up moves in Bearish Rising Channel in last 2 hours.
3- Whole day actual trading between 6266-6325

Conclusions from intra day chart analysis 

Strong recovery from lower levels after strong global markets and improved WPI numbers but selling at higher levels and last 2 hours Up moves in Bearish Rising Channel also therefore until Nifty will not sustain above today highest till then next up moves will not be considered.

TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Although today closing near the highest of today but follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6325 should be firstly watched now for next moves 1st indication because today selling patterns were seen within strong resistances between 6260-6358.

Mid-session Outlook(15-01-2014)

As strong global markets and improved WPI numbers therefore strong recovery from lower levels after positive opening but selling also seen at higher levels within previous resistance range(6260-6358). TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6316 should be firstly watched now for next moves 1st indication.

Technical Analysis and Market Outlook(15-01-2014)

Nifty-Intra Day Chart (14-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6265-6278
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between 6234-6278

Conclusions from intra day chart analysis 

Firstly higher levels some selling but whole day down moves in Bullish Falling Channel also therefore mixed intraday patterns formation today and Indian markets are not prepared for any side decisive moves at this moment.

Last 24 sessions trading between 6130-6358 with following technical positions:-

1- Higher levels resistances between 6260-6358.
2- 5 Sessions trading between 6139-6239 with selling indications in previous week.
3- Firstly strong recovery and almost 6 hours trading between 6232-6256 on 13-01-2014 with the expectation of inflation reduction. 

As most time selling in last 24 sessions therefore deeper correction possibility should be kept in mind but firstly sustaining beyond 6232-6256(almost 6 hours trading range of yesterday) should be watched for next immediate short term moves confirmations because this range trading was after strong recovery.

BHARTI-Jan Put Option(320)-Positional-Buying Trade

Bharti-Jan PE(320)-Buy-Positional-SL-1.90 & TGT-6.40-CMP-3.30(Lalit39)