Technical Analysis and Market Outlook(26-02-2014)

Nifty-Intra Day Chart (25-Feb-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6206-6216
2- Consolidation Patterns between 6177-6192
3- Down moves in Bullish Falling Channel in last hour. 
4- Whole day actual trading between 6177-6216

Conclusions from intra day chart analysis 

39 Points range bound trading with higher levels selling but lower levels consolidation and  Bullish Falling Channel formation in last hour also therefore on going rally continuation hopes are alive after intraday correction completion today. All the next resistances of Nifty are as follows:-

1- 6265-6292
2- 6320-6358
3- 6350-6380

As Feb. Derivative expiry tomorrow therefore next moves beyond 6200 should also be firstly watched tomorrow because both selling above it and buying below it today as well as valid break out of today trading range(6177-6216) will be next trend confirmations while finally rally continuation is expected within next 1/2 sessions..

Mid-session Outlook-2(25-02-2014)

Today trading between 6177-6216 with firstly down moves after higher levels some selling but confirmation of lower levels supports and consolidation also therefore on going rally continuation hopes are alive after intraday correction completion. As Feb. Derivative expiry tomorrow therefore next moves beyond 6200 should also be watched.

Mid-session Outlook(25-02-2014)

Although gap up and good above 6200 opening but not strong and Indian markets under performed Global cues therefore following line was told today in Post-open Outlook:-

"emergence of profit booking possibility"

As was told same happened and Nifty slipped after higher levels profit booking and now trading in Red. Minor correction was expected and it is being seen but some consolidation with lower lever levels supports confirmation is still required yet for the stopping of down moves. Let it happen then will be updated accordingly.

Post-open Outlook(25-02-2014)

As Indian markets are under performing Global cues since opening today therefore emergence of profit booking possibility and firstly sustaining beyond psychological level of 6200 should be watched.

NIFTY-Feb Call Option(6200)-Positional Buying of 21-02-2014-Covering

NIFTY-Feb CE(6200)-Bought on 21-02-2014-Cover and book profit immediately-CMP-30(Lalit39)

Technical Analysis and Market Outlook(25-02-2014)

Nifty-Intra Day Chart (24-Feb-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6132-6155
2- Up moves with continuous consolidations.
3- Whole day actual trading between 6131-6191.

Conclusions from intra day chart analysis 

As most Asian markets were depressing therefore sentiment turned weak and firstly negative zone trading after weak opening today. Firstly lower levels good consolidations and after that whole day up moves with follow up consolidations therefore following lines are being repeated which were today yesterday in Bullish Rally continuation:-

Rally is on and strong up moves continuation possibility is also very much alive but follow up consolidation is firstly required because Nifty closed within next resistance range after lower levels very good consolidation in last 3 weeks. 

Next resistances are between 6130-6180 and once valid break out above 6180 will mean fast and strong rally toward next resistances:-

6265-6292
6320-6358

Expected that finally up moves toward 6265 will be seen after follow up consolidation in next week. 

Live proofs of 100% accurate Levels and Predictions

Today highest formation is at 6181.85 and it proved my following predictions 100% accurate which was done in Pre-closing Outlook on 21-02-2014:-

Nifty will trade above 6180 in next week after follow up consolidations between 6130-6180.

Range of 6130-6180 was given and today trading range at this moment is 6130.80-6181.85

Only Bullish Outlooks were posted in following 3 weekly analysis topics and now Nifty is trading at the highest of February 2014:-

1- Bullish Rally continuation(Posted on 23-02-2014) 
2- View is Bullish(Posted on 16-02-2014) 
3- Bullish Week Ahead(Posted on 09-02-2014) 

Just click on above topic and understand technical reasons of our Bullish views since beginning of on going rally

Mid-session Outlook(24-02-2014)

Now Nifty is trading 12 points up but when was near the lower levels of today and was in Red then we told following line in previous Outlook at 09:44 AM today:-

finally up moves are expected after follow up consolidations

Now Nifty is trading at 6167 and fast rally is expected after sustaining above 6180,should be firstly watched today.

Post-open Outlook(24-02-2014)

As most Asian markets are .50% to 2% down today therefore negative zone trading after weaker opening in Indian markets today. Lower levels good consolidations in previous weeks therefore finally up moves are expected after follow up consolidations because now trading within resistance range(6130-6180) and weak Asian markets also today.

Bullish Rally continuation

Technical Analysis,Research & Weekly Outlook

 (Feb 24 to Feb 28,2014)

Nifty closed at the top of last 14 sessions last Friday and proved 100% accuracy of our following 2 weekly analysis topics:-

1- Bullish Week Ahead(Posted on 09-02-2014) 
2- View is Bullish(Posted on 16-02-2014) 

(Just click on above topic and understand the reasons of our Bullish views since beginning of on going rally)

Nifty-EOD Chart (21-Feb-2014):-

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Technical Patterns and Formations in EOD charts

As per previous waves counting:-

1- Wave-ii of Wave-3(5972.45 on 13-11-2013)
2- Wave-iii of Wave-3(6415.25 on 09-12-2013)
3- Wave-iv of Wave-3(5933.30 on 04-02-2014)

As per wave theory Wave-4 of any degree should not bottom below the bottom of Wave-2 of the same degree. As Nifty slipped below the bottom of Wave-ii of Wave-3(5972.45) and recent lowest formation at 5933.30 on 04-02-2014 therefore Waves are being recounted as follows:-  

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(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation
7- 200-Day EMA(today at 6010)

Conclusions from EOD chart analysis 

Short term trend is up and finally Long term trend remained up after sustaining above its decider 200-Day EMA(today at 6010) in previous week. Intermediate term trend is sideways and that will be up after sustaining above 6188.55.

Wave-iii of Wave-3 continuation for new all time high and its possibilities turned high after sustaining above 200-Day EMA and saving of up trend.

Nifty-Intra Day Chart (Jan 24 to Feb 21,2014):-

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Technical Patterns and Formations in last 21 Sessions intraday charts

1- Huge gap down(6189-6264) opening on 27-01-2014 
2- 20 Sessions(27-01-2014 to 21-02-2014) actual trading between 5934-6189.
3- Firstly down moves after selling between 6130-6180
4- Multiple and strong supports development at lower levels between 5934-6065 in last 14 sessions.
5- Last 4 sessions trading between 6087-6160 with mixed trading patterns.

Conclusions from 21 Sessions intra day chart analysis

20 Sessions(27-01-2014 to 21-02-2014) actual trading between 5934-6189 with lower levels strong supports and higher levels selling and last Friday closing within last resistance range(6130-6180) of 20 sessions. Nifty traded between 6087-6160 with mixed trading patterns and traded within mentioned resistance range also. As more consolidation seen in last 4 sessions between 6087-6160 therefore emergence of break out possibility of last 20 sessions range after follow up consolidation between mentioned resistance range.   

Conclusions (After Putting All Indicators Together)

Rally is on and strong up moves continuation possibility is also very much alive but follow up consolidation is firstly required because Nifty closed within next resistance range after lower levels very good consolidation in last 3 weeks. 

Next resistances are between 6130-6180 and once valid break out above 6180 will mean fast and strong rally toward next resistances:-

6265-6292
6320-6358

Expected that finally up moves toward 6265 will be seen after follow up consolidation in next week.

NIFTY-Feb Call Option(6200)-Positional-Buying Trade

NIFTY-Feb CE(6200)-Buy-Positional-SL-04 & TGT-54-CMP-16(Lalit39)

Pre-closing Outlook(21-02-2014)

As today intraday charts are showing more indications of buying therefore expected that Nifty will trade above 6180 in next week after follow up consolidations between 6130-6180.

Mid-session Outlook(21-02-2014)

Strong resistances are between 6130-6180 and selling was seen between this range on 18-02-2014 and 19-02-2014. Most time trading between 6130-6148 today but intraday patterns are not showing any clear pattern therefore some more preparation is required for decisive moves after sustaining beyond 6130-6180. 

Let market prepare and get confirmation through intraday charts patterns formations then will be updated accordingly. sustaining beyond 6130-6180 should be watched for next big moves confirmations.

Technical Analysis and Market Outlook(21-02-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Lower levels some supports
2- Higher levels some selling
3- Sharp up after more than 1% down European markets opening.
4- Most time trading above 6106
5- Whole day actual trading between 6087-6129

Conclusions from intra day chart analysis 

Firstly almost 6 hours Volatility with lower levels buying and and higher levels selling above 6106. Indian markets out performed global cues and sharply up after more than 1% down opening of European markets therefore a sign of strength also today despite down moves in last hour and closing below 6106.

As mixed pattern formations in first more than 5 hours today above 6106 therefore firstly sustaining beyond 6106 should be watched tomorrow for:-

1- Down moves towards next supports(6045-6065) after sustaining below 6106
2- Firstly consolidation between 6106-6129 after sustaining above 6106 and then 1st sign of any up move after valid break out of 6129.

Sustaining beyond 6106 should be firstly watched tomorrow for above mentioned next moves.

Pre-closing Outlook(20-02-2014)

Volatile markets with mixed(both buying and selling) trading patterns today and now trading below next support levels(6106) and until Nifty will not sustain below it till then next down moves will not be considered therefore sustaining below 6106 should be firstly watched tomorrow for next trend confirmations.

Mid-session Outlook(20-02-2014)

Although Indian markets are more than .50% down at this moment but out performed global cues and good supports seen after opening of much weaker European markets therefore it is a sign of strength and until Nifty will not sustain below today lowest(6106) till then next down moves will not be considered.

Next moves deciding range is 6106-6160 and firstly sustaining beyond this range should be watched now for next moves confirmations.

Technical Analysis and Market Outlook(20-02-2014)

Nifty-Intra Day Chart (19-Feb-2014):-

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Technical Patterns and Formations in today intraday charts

1- Most time trading between 6128-6144
2- Consolidation between 6128-6135
3- Selling patterns formation between 6136-6144
4- Sharp up in last 21 minutes
5- Whole day actual trading between 6126-6160

Conclusions from intra day chart analysis 

Most time trading between 6128-6144 with firstly consolidation patterns formation and good selling also at higher levels therefore some down moves are expected below today lowest(6126) tomorrow despite sharp up in last 21 minutes today.

Pre-closing Outlook(19-02-2014)

Although firstly consolidation patterns formation and now trading near the higher levels of today but good selling also seen therefore firstly some down moves are expected tomorrow below today lowest(6126)

Mid-session Outlook-2(19-02-2014)

Quiet range bound market and most time trading between 6129-6144 with firstly consolidation patterns formation but selling patterns also emerged in last 1 hour therefore valid break of mentioned range should be firstly watched for next immediate moves confirmations.

Mid-session Outlook(19-02-2014)

As first 2 hours intraday charts are showing consolidation patterns therefore emergence of up moves possibilities above 6140/6180

Post-open Outlook(19-02-2014)

Flat to positive market and preparation for next moves because today trading between immediate resistance range(6130-6180) after last five hours trading between 6110-6141 yesterday. As Bearish Rising Channel formation in last 5 hours up moves yesterday therefore view is cautions and follow up moves with sustaining beyond 6110-6180 will be firstly watched today. 

Expected that Nifty will prepare for next trend between 6110-6180 and sustaining beyond this range will be next big moves confirmations.