Technical Analysis and Market Outlook(03-07-2014)

Nifty-Intra Day Chart (02-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- 5 hours up moves in Bearish Rising Channel
2- Intraday corrections
3- Whole day actual trading between 7678-7732

Conclusions from intra day chart analysis 

Whole day up moves after strong gap up opening with new life time high formation but slow up moves seen between Bearish Rising Channel therefore follow up consolidation is firstly required tomorrow for sustaining above 7700. As intraday corrections were also seen immediately after some selling therefore it seems that consolidation process is on and expected that rally will remain continued after follow up consolidation.

Mid-session Outlook-3(01-07-2014)

Although now trading near all time high after lower levels good supports but Selling patterns formations seen between 7697-7711 also and last 3 hours up moves are without force therefore for next strong rally only one confirmation of sustaining above 7700 is required now.

Mid-session Outlook-2(02-07-2014)

Selling patterns formations between 7697-7711 but following supports also today:-

1- 7678-7684 with higher bottom formation.
2- 76907694 

All trends are up and Bull Bear fight is being seen today at previous top(7700) and finally rally continuation is expected above 7700 after follow up consolidation between 7678-7711.

Mid-session Outlook(02-07-2014)

Although trading near 7700 but selling patterns formations also seen between 7697-7711.

Technical Analysis and Market Outlook(02-07-2014)

Nifty-Intra Day Chart (01-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7622-7633
2- Minor selling signals  between 7635-7644 
3- Whole day actual trading between 7622-7649

Conclusions from intra day chart analysis 

Firstly 2 hours consolidations and after that next 3 hours minor selling signals within whole day 27 points trading between 7622-7649 therefore some more preparations are required for next decisive moves. As most time today trading between previous resistance range(7626-7673) therefore complete consolidation was required for next decisive up moves above 7673/7700 and its signals seen today but sustaining beyond 7564-7673 should be watched in the coming sessions for next trend confirmations.

As consolidation within last resistance range seen today therefore expected that finally rally will be seen above 7673/7700 after follow up consolidations in the coming sessions 

Mid-session Outlook(01-07-2014)

Previous resistances were between 7626-7673 and most time trading between this range today but today intraday patterns have not shown any clear formations yet because minor selling signals in last 3 hours after first 2 hours consolidations patterns therefore some more preparations are required for next decisive moves and sustaining beyond 7564-7673 should be watched for next trend confirmations.

Technical Analysis and Market Outlook(01-07-2014)

Nifty-Intra Day Chart (30-Jun-2014):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours trading with mixed Patterns formations between 7564-7605 
2- Whole day actual trading between 7540-7623

Conclusions from intra day chart analysis 

Although correction continuation since 11-06-2014 from 7700 but its completion possibility was told in following lines at 09:02 AM today in Technical Analysis,Research & Weekly Outlook(Jun 30 to Jul 04,2014):-

Lower levels consolidation with down moves in Bullish Falling Channel therefore emergence of on going correction completion possibility.

Correction completion possibility was told and more than 75 points recovery within first 10 minutes immediately after positive opening today and almost whole day more than 1% positive trading as well as 1.37% up closing today.

More than 5 hours trading between 7564-7605 with mixed Patterns formations today but Indian markets out performed Global cues and psychological studies also indicating buying possibility within this range therefore 1st strong signal of trading and sustaining above highest of this range(7605)

As immediate resistances between 7626-7673 are just above today 5 hours trading range therefore more consolidation is required for valid break out above 7673 and fresh rally above 7700. Expected that Nifty will firstly trade between 7443-7673 and prepare for next decisive moves within this range. Market will take its own time within this range but finally rally is expected above 7673/7700 after follow up consolidations in the coming sessions/weeks.

Mid-session Outlook(30-06-2014)

More than 75 points recovery within first 10 minutes immediately after positive opening and after that trading between 7572-7605 which is just below previous resistances range(7626-7673). Although today intraday patterns are not showing any clear pattern but Indian markets are out performing Global cues and other psychological studies are indicating buying therefore expected that finally Nifty will trade above today highest of at this moment(7605) and will counter above mentioned resistance range(7626-7673) 

Technical Analysis,Research & Weekly Outlook(Jun 30 to Jul 04,2014)

Nifty-Intra Day Chart (Jun 23 to Jun 27,2014):-

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Technical Patterns and Formations in last 5 Sessions intraday charts

1- Mixed patterns formation and down moves after disappointing news of Gas price revision deferring decision on 26-06-2014
2- 5 Sessions actual trading between 7443-7593 

Conclusions from 5 Sessions intra day chart analysis 

Mixed patterns formation and down moves after disappointing news of Gas price revision deferring decision on 26-06-2014 therefore Nifty is not prepared for any side decisive moves and firstly has to prepare therefore Nifty will trade between previous week trading range and sustaining beyond this range will be following moves confirmations:-

1- Below  7443 will mean correction continuation with possibility of deeper correction.
2- Above 7593 will mean 1st indication of correction completion because above it strong resistances between 7626-7673 and more consolidation is required for next rally.

Nifty-Intra Day Chart (30-Jun-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 7483-7506 
3- Whole day actual trading between 7483-7538

Conclusions from intra day chart analysis 

Lower levels consolidation with down moves in Bullish Falling Channel therefore emergence of on going correction completion possibility.

Conclusions (After Putting All Studies Together)

Detailed analysis of EOD charts has been updated in previous weekly analysis of following topic:-

Bullish Flag formation in last 11 sessions correction 

As no material change in EOD charts during previous week therefore not being updated and may click above topic for EOD charts analysis.

Bullish Flag formation in last 16 sessions correction therefore expected that finally rally will be seen above 16 sessions highest(7700) after follow up consolidations and on going correction completion as well as deeper correction will not be seen below 16 sessions lowest(7443). 

Technical Analysis and Market Outlook(27-06-2014)

Nifty-Intra Day Chart (26-Jun-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling immediately after opening
2- Sharp fall
3- Follow up between 7515-7540
4- Sharp fall again
5- Whole day actual trading between 7482-7570

Conclusions from intra day chart analysis 

As disappointing news of Gas price revision deferring decision therefore selling developed immediately after opening and follow up selling also seen. As soon as intraday charts started to show clear selling patterns then following lines were told yesterday at 01:42PM in Mid-session Outlook:-

Follow up selling also seen between 7515-7540 in last 4 hours therefore testing possibility of following 2 immediate supports:-

1- 7488
2- 7441

Correction continuation and no signal of its completion yet,above mentioned 1st support has been tested and 2nd support testing possibility can not be ruled out. Let consolidation patterns develop then on going correction completion will be considered otherwise correction is on and its continuation is expected.

Mid-session Outlook(26-06-2014)

As disappointing news of Gas price revision deferring decision therefore selling developed immediately after opening and follow up selling also seen between 7515-7540 in last 4 hours therefore testing possibility of following 2 immediate supports:-

1- 7488
2- 7441

Post-open Outlook-2(26-06-2014)

Sharp down in last minutes and Nifty is now trading .68% down,it means that Indian markets are completely disappointed from Gas price revision deferring decision. Next supports are at 7488 and sustaining it beyond  will be confirmation of deeper correction or its completion therefore should be firstly watched now. 

Post-open Outlook(26-06-2014)

As disappointing decision of deferring Gas price revision for 3 months by Govt. yesterday therefore heavyweight RIL,ONGC and other oil stocks are 2.5% to 5.5% down but benchmark Indices are minor down. Although Indian markets are Bullish but certainly this news is surprising because high expectations from Modi Government and market reaction has to be firstly understood and then final view will be formed accordingly.

Technical Analysis and Market Outlook(26-06-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channel
2- Whole day actual trading between 7557-7589

Conclusions from intra day chart analysis 

Following conclusive line was told yesterday in Technical Analysis and Market Outlook(25-06-2014)

Consolidation in sideways quiet market is expected tomorrow

As was told 100% same happened today and whole day sideways consolidation in quiet trading within 32 points range between 7557.05-6589.25 today. 

Although whole day down moves but today intraday trading patterns are not showing selling formations and consolidation pattern of "whole day down moves in Bullish Falling Channel" formation also seen today therefore emergence of fresh up moves possibility in the coming sessions. Technically expected that Nifty will not sustain below today lowest(7557.05) and finally rally will be seen above today highest(7592)

As disappointing decision of deferring Gas price revision and status quo on for 3 months by Govt. today therefore Indian markets may firstly react negative tomorrow but sustaining beyond today trading range(7557-7589) will be next decisive moves confirmation and should be firstly watched tomorrow.

Mid-session Outlook(25-06-2014)

Following conclusive line was told yesterday in Technical Analysis and Market Outlook(25-06-2014)

Consolidation in sideways quiet market is expected tomorrow

As was told 100% same happened today and first 4 hours sideways quiet trading within 25 points range between 7564.05-6589.25 today. Selling patterns formation between 7580-7592 yesterday and today trading seen just below 7580 also but today trading patterns are not showing selling but consolidation indications from today intraday charts and emergenece of up moves possibility. Although now trading near the lower levels of the day but expected that Nifty will not sustain below today lowest(7564.05) and finally will rally above today highest(7592)

Pre-open Outlook(25-06-2014)

As Iraq insurgents are gaining and resultant all the Global markets are flat to weak therefore same reaction is expected in Indian markets today. Nifty traded most time between 7542-7592 yesterday with both higher levels selling and lower levels consolidation and supports. As next resistances(7626-7673) are just above therefore complete consolidation is required for rally above 7673/7700 and expected that Nifty will firstly trade and prepare for next decisive moves between 7542-7592 and sustaining beyond 7542-7673 will be next trend confirmation. 

Technical Analysis and Market Outlook(25-06-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Sharp up immediately after opening
2- Down moves in Bullish Falling Channel
3- Selling patterns formation between 7580-7592 
4- Support between 7542-7559
5- Whole day actual trading between 7523-7592

Conclusions from intra day chart analysis 

Sharp up immediately after gap up opening and minor selling was also seen at higher levels but consolidation patterns formations with some supports also therefore rally continuation expectations are alive. 

Next resistance are between 7626-7673 and minor selling seen just below this range today therefore follow up consolidation is firstly required for next rally above 7673. It should be kept in mind that once valid break out above 7673 will mean new all time high formation and possibility of strong rally above 7700.

Consolidation in sideways quiet market is expected tomorrow and sustaining beyond 7580-7673 will be next trend and decisive moves confirmation.

Technical Analysis and Market Outlook(24-06-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Buying between 7441-7466
3- Whole day actual trading between 7441-7534

Conclusions from intra day chart analysis 

Following lines were told at 08:19 AM today in Bullish Flag formation in last 11 sessions correction:-

1- expected that correction will finish near about 7488 
2- possibility of minor slipping below 7488 should be kept in mind

As was told 100% same happened and minor slipping below 7488 today and closing above it also at 7493.35 after bottom formation at 7441.

Following line was told at 12:59 PM today in Mid-session Outlook(23-06-2014):-

emergence of supports getting possibility near about today lowest(7452) of at this moment

As was told 100% same happened and strong recovery from lower levels after  supports getting at 7441

Strong recovery from lower levels after consolidation and good supports at lower levels today therefore first strong indication of that correction completion which started from 7700.05 on 11-06-2014 

Supports between 7488-7566 in 11 sessions of previous weeks and today supports with consolidation just below it as well as Nifty got supports near about 21 day EMA(7453) therefore sustaining above 7441 tomorrow will mean fresh rally towards next resistance range(7626-7673) 

Mid-session Outlook(23-06-2014)

Last 11 sessions lowest(7488) broken down and 21 day EMA(7453) tested just now. As above mentioned levels broken down/testing are without required force therefore emergence of supports getting possibility near about today lowest(7452) of at this moment.

Sustaining beyond 7452 should be firstly watched now.

Bullish Flag formation in last 11 sessions correction 

Technical Analysis,Research & Weekly Outlook

(Jun 23 to Jun 27,2014)

Nifty-EOD Chart (20-Jun-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(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3(7563.50 on 16-05-2014) 
7- Wave-iv of Wave-3(7118.45 on 30-05-2014) 
8- Wave-v of Wave-3 continuation with new highest formation at 7700.05 on 11-06-2014
9- Bullish Flag formation in last 11 sessions correction

Conclusions from EOD chart analysis 

Long and Intermediate Term Trends are up and Short Term trend remained sideways between 7488-7700 in previous weeks as well as Wave-v of Wave-3 continuation with new highest formation at 7700.05 on 11-06-2014. Bullish Flag formation in last 11 sessions correction therefore finally rally is expected above 7700 in the coming weeks despite closing near the lower levels last Friday

Nifty-Intra Day Chart (Jun 06 to Jun 20,2014):-

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Technical Patterns and Formations in last 11 Sessions intraday charts

1- 11 Sessions actual trading between 7488-7700
2- Higher levels selling in last 11 sessions
3- Lower levels buying in last 11 sessions

Conclusions from 11 Sessions intra day chart analysis 

Last 11 sessions trading between 7488-7700 with higher levels selling and lower levels buying therefore sustaining beyond this range will be next big moves confirmations.

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

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7498-7560

Conclusions from intra day chart analysis 

Whole day sideways trading within 62 points with both Bullish and Bearish patterns formations therefore mixed patterns formations and valid break out of this range will be next immediate trend confirmations. As last 2 hours down moves in bigger Bullish Falling Channel therefore more expectations of finally up moves above 7560 despite closing near the lower levels of the day.

Conclusions (After Putting All Studies Together)

Following lines were told on 15-06-2014 in Sideways Market before Fresh Rally:-

Expected that Nifty will prepare for next decisive moves within 7500-7700 in the beginning of next week

As was told 99% same happened and Nifty traded between 7488-7700 in whole previous week. Supports and resistances within this range are as follows:-

1- Supports between 7488-7566
2- Resistances between 7626-7673 

Sentiment turned heated after Modi's victory in parliamentary elections therefore profit booking and sideways correction in previous weeks. As civil war in Iraq and Crude rates hiked therefore most Global markets are cautious and if situation of Crude will turn worse then deeper correction will be seen otherwise expected that correction will finish near about 7488 and possibility of minor slipping below 7488 should be kept in mind.

As Bullish Flag formation in last 11 sessions correction therefore expected that finally rally will be seen after on going correction completion and deeper correction will not be seen. 

Pre-closing Outlook(20-06-2014)

Only sideways market between 7488-7700 was told in all the previous Outlooks of this week and Nifty traded within this range whole week. 

Following line was told  yesterday in Technical Analysis and Market Outlook(20-06-2014):- 

Sustaining beyond 7488-7566 should be firstly watched in the coming sessions for next big moves first indication

7488-7566 was given yesterday and whole time trading within this range today between 7519.40-7560.55 and Nifty has not broken out yet. Correction is on and sustaining beyond 7488-7566 should be firstly watched for next big moves first strong indication.