Technical Analysis and Market Outlook(16-07-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Profit booking between 7507-7524
2- Supports between 7460-7475
3- Follow up consolidation
4- Sharp up in last hours.
5- Whole day actual trading between 7460-7534

Conclusions from intra day chart analysis 

When Nifty was trading near the lowest of the day yesterday at 7435 then following lines were told at  01:10 PM in Mid-session Outlook(14-07-2014):-

consolidation patterns formations therefore expected that deeper correction will not be seen and correction will complete near about 7400.

Following lines were told yesterday in Technical Analysis and Market Outlook(15-07-2014):-

up moves will be firstly seen towards 7690 as well as it is expected also in the coming sessions.

As was told 2 times yesterday 100% same happened today and whole day positive zone trading with Nifty closing 0.97% up today

Firstly gap up strong opening but immediately after that profit booking between 7507-7524 in first 2 hours and sharp down moves seen  today. As lower levels supports also seen between 7460-7475 therefore emergence of correction completion possibility above yesterday lowest(7423). Although good follow up consolidation in last 3 hours but sufficiently good selling also seen in first 2 hours therefore confirmation through sustaining above today resistance(7507-7524) is firstly required tomorrow because that will mean base formation at lower levels in last 2 sessions between 7423-7478 for next strong rally .

As sentiment was much heated and cooling down was required therefore correction was seen from 7808 after Rail and Union Budget in previous week but lower levels supports with consolidation was seen above 7423 in both previous sessions of this week. Now Nifty will be understood sideways between 7423-7808 and more up moves are expected towards next resistance(7690). As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-  

1- 7690-7731
2- 7756-7800

Mid-session Outlook(15-07-2014)

Although down moves after first 2 hours profit booking between 7507-7524 but lower levels supports also seen between 7460-7475 therefore correction completion hopes are still alive above yesterday lowest(7423). As sufficiently good selling at higher levels today therefore equally good follow up consolidation is also required above yesterday lowest(7423) for next rally above today highest. 

First signal of next decisive moves will be sustaining beyond 7423-7524 and should be firstly watched in the coming sessions.

Technical Analysis and Market Outlook(15-07-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day sideways trading with consolidation patterns formations.
3- Whole day actual trading between 7423-7478

Conclusions from intra day chart analysis 

Although flat closing with whole day sideways trading within 55 points but with consolidation patterns formations therefore first signal of that correction completion which started from 7808 on Rail Budget day. Sustaining above today highest will be understood sideways market between 7423-7808 and up moves will be firstly seen towards 7690 as well as it is expected also in the coming sessions. As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-  

1- 7690-7731
2- 7756-7800

Mid-session Outlook(14-07-2014)

Firstly strong recovery immediately after Budget and after that continuous down moves in last 2 sessions but with consolidation patterns formations therefore expected that deeper correction will not be seen and correction will complete near about 7400.

As I was out of station therefore Weekly Outlook will not be updated and Intraday Outlooks will be posted during trading hours today.

NIFTY-Jul F&O-Positional Buying of 08-07-2014-Averaging

NIFTY Jul CE(7900) & Fut(Bought on 08-07-2014)-Fut covered with 109 points profit yesterday but Option is still holding.May buy & average Call Option now-CMP-7.50(Lalit39)

Pre-closing Outlook(11-07-2014)

Although most of the time slipping from higher levels and now Nifty is trading 1.50% down also but whole day down moves are in Bullish falling channel therefore expected that rally will be seen in next week after on going correction completion near about today lowest.

Bullish pattern of "Inverted Head and Shoulder" like formation today

Mid-session Outlook(11-07-2014)

As all the Global market were in deep Red therefore Indian markets also moved sharply down in last 2 hours yesterday and today also slipped since 09:30 AM. Today first 4 hours down moves are in "Bullish Falling Channel" and Bullish pattern of "Inverted Head and Shoulder" like formation also seen after 12:12 PM with its Neckline at 7533. Valid break out above 7533 will be confirmation of its formation and strong indication of on going Very Short Term correction completion also therefore should be firstly watched now.

Technical Analysis and Market Outlook(11-07-2014)

Nifty-Intra Day Chart (10-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7480-7588 
2- Up moves with intraday correction
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 7480-7731

Conclusions from intra day chart analysis 

High volatility on Budget day with good consolidation at lower levels and after that sharp recovery immediately after the closure of Budget speech. Although Indian markets could not sustain at higher levels but up moves were with intraday correction and down moves were in Bullish Falling Channel which are indicating consolidation therefore up moves are still expected despite 190 points slipping from higher levels in last 2 hours.

As Dow Futures slipped more than 120 points and all the European markets also traded more than 1% down therefore Indian markets would have reacted through slipping in last 2 hours and Global markets impact on Indian markets should be firstly understood tomorrow. Although US and European markets are trading more than 1% weak at this moment but good consolidation at lower levels between 7480-7588 today therefore sustaining beyond this range should be firstly watched for next trend and market reaction on Budget confirmations. 

NIFTY-Jul F&O-Positional Buying of 08-07-2014-Covering

NIFTY Jul F&O(Bought on 08-07-2014)-Target achieved in Fut therefore Cover and Book Profit Immediately in Fut and Hold 7900 Call option-CMP Fut-7734(Lalit39)

Rally after Budget
Mid-session Outlook(10-07-2014)

Although slipping immediately after positive opening but today intraday charts are showing consolidation patterns formations. As last 2 sessions also showed consolidation patterns despite steep fall from higher levels and negative closing therefore expected that finally rally with new all time high formations will be seen after Union Budget-2014 and/or in the coming couple of sessions.

Rally with New All Time High Formations after Union Budget-2014

Technical Analysis and Market Outlook
(10-07-2014)

Nifty-Intra Day Chart (09-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- Up moves with intraday correction
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7552-7647

Conclusions from intra day chart analysis 

As sentiment was much heated and all were expecting strong rally after Union Budget on 10-07-2014 therefore as much sharp correction was seen after Rail Budget that much sentiment was heated. Although most of the time negative zone trading with .50% down closing today but intraday charts of today and yesterday are showing consolidation patterns formations therefore emergence of yesterday started Very Short Term correction completion and rally continuation expectations.

All trends are up and as such big selling not seen at higher levels in previous sessions as well as consolidation patterns formations in both previous sessions also therefore expected that finally rally with new all time high formations will be seen after Union Budget-2014 and in the coming sessions.

Pre-closing Outlook(09-07-2014)

Most of the time negative zone trading and now going to close more than .50% down also but today intraday charts are showing consolidation patterns formations therefore expected that finally rally will be seen after Union Budget-2014 tomorrow.

Mid-session Outlook(09-07-2014)

Although almost 1% sharp fall after positive opening but lower levels supports with consolidation patterns formations since opening today therefore emergence of rally continuation expectations after yesterday started Very Short Term correction completion despite sharp fall and negative zone trading for the last more than 1 hour today.

NIFTY-Jul F&O-Positional Buying of 08-07-2014-Message

NIFTY Jul F&O(Bought on 08-07-2014)-This trade is on post Budget rally expectation. Market will be volatile but just hold and cover only after my covering message(Lalit39)

Technical Analysis and Market Outlook(09-07-2014)

Nifty-Intra Day Chart (08-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- Firstly more than 4 hours trading with mixed Patterns between 7722-7777
2- Sharp Fall in last 2 hours but within Bullish Falling Channel
3- Whole day actual trading between 7596-7808

Conclusions from intra day chart analysis

More than 200 points huge fall from intraday higher levels was seen today but we cautioned well before yesterday in both previous Outlooks and told following lines:-

1- We told yesterday at 12:22 PM in Mid-session Outlook(07-07-2014):-
(a) minor profit booking is being seen today.
(b) negative zone trading can not be ruled out today.
2- Although yesterday closing neat the higher levels on the day but we told in Technical Analysis and Market Outlook(08-07-2014):-
(a) Although whole day positive zone trading and closing near the higher levels of the day but higher levels profit booking with selling in last half hour was also seen
(b) fresh consolidation is firstly required for sustained rally above today highest.

As mixed Patterns formations in first more than 4 hours and after that sharp Fall in last 2 hours within Bullish Falling Channel therefore today huge down moves will be understood a process of consolidation amid Budget led most heated sentiments. Next support is between 7622-7633 and Nifty closed within this range today therefore sustaining beyond this range will decide today started correction continuation/completion.

Expected that Nifty will not sustain below 7622 and fresh rally will firstly start above 7633 as well as finally up moves will be seen above 7808 in the coming sessions of this week.

NIFTY-Jul F&O-Positional-Buying Trade

NIFTY-Jul CE(7900)-Buy-Positional-SL-24 & TGT-84-CMP-49
NIFTY-Jul Fut-Buy-Positional-SL-7574 & TGT-7734-CMP-7625(Lalit39)

Technical Analysis and Market Outlook(08-07-2014)

Nifty-Intra Day Chart (07-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- Higher levels selling
2- Down moves in Bullish Falling Channel
3- Consolidation between 7756-7770
4- Selling in last half hour
5- Whole day actual trading between 7756-7792

Conclusions from intra day chart analysis 

Although whole day positive zone trading and closing near the higher levels of the day but higher levels profit booking with selling in last half hour was also seen therefore fresh consolidation is firstly required for sustained rally above today highest. As lower levels consolidation and down moves in Bullish Falling Channel therefore expected that finally rally will be seen above today highest after follow up consolidations.

Mid-session Outlook(07-07-2014)

Although positive zone trading since opening today but sentiment is much heated after strong rally last Friday therefore minor profit booking is being seen today. As today intraday charts are also indicating consolidation therefore deeper down moves are not possible but negative zone trading can not be ruled out today.

Firstly Volatility and Finally Rally after Union Budget - 2014
Technical Analysis,Research & Weekly Outlook

(Jul 07 to Jul 11,2014)

Nifty-EOD Chart (04-Jul-2014):-

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Technical Patterns and Formations in EOD charts

1- Wave-III of Wave-3 beginning(5933.30 on 04-02-2014) 
2- Wave-1(6869.85 on 25-04-2014)
3- Wave-2(6638.55 on 06-05-2014)
4- Wave-3 continuation with new highest formation at 7758 on 04-07-2014

Conclusions from EOD chart analysis 

New all time high formation at 7758 on 04-07-2014 and further strong rally continuation is still expected because complete selling patterns are required minimum on EOD charts for any deeper correction and no such formation seen yet as well as Bullish Flag break out seen in previous week. we are not projecting such Bullish Outlook today but when Nifty was slipping down and correction was continued then also we  predicted such strong rally in all 3 previous Weekly Outlooks and told following lines:- 

1- We told on 30-06-2014 in Technical Analysis,Research & Weekly Outlook(Jun 30 to Jul 04,2014):- "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)"
2- We told on 23-06-2014 in Bullish Flag formation in last 11 sessions correction:- "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" 
3- We told on 15-06-2014 in Sideways Market before Fresh Rally:- "finally rally will remain continued after follow up consolidations in next week" 

Nifty-Intra Day Chart (04-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 7721-7732
2- Sharp fall below 7700
3- Consolidation between 7662-7691
4- Strong recovery with lower levels consolidations
5- Whole day actual trading between 7662-7751

Conclusions from intra day chart analysis 

Firstly sharp fall below 7700 and after that 96 points strong recovery from lower levels in last 3 hours and closing well above 7700 on 04-07-2014 but we predicted exactly same moves in all 3 Outlooks of 03-07-2014 and told following lines:- 

1- At 01:18 PM on 03-07-2014 in Mid-session Outlook(03-07-2014):-"possibility of slipping below 7700."
2- At 03:13 PM on 03-07-2014 in Pre-closing Outlook(03-07-2014):-"possibility of slipping below 7700 can not be ruled out"
3- In Technical Analysis and Market Outlook(04-07-2014):- (i)"possibility of slipping below 7700 can not be ruled out"
(ii)"much deeper correction is not expected "

As was told 100% same happened and firstly Nifty slipped below 7700 but deeper correction was not seen and Nifty got support at 7661.30 as well as strong 96 points recovery with closing well above 7700 seen.

As we were confirm that Nifty will slip below 7700 therefore we waited and when Nifty was trading the lower levels of the day below 7700 then we sent following Nifty Buying SMS to our paid clients at 12:25 PM:-

NIFTY-Jul CE(7900)-Buy-Positional-SL-49 &TGT-109-CMP-67
NIFTY-Jul Fut-Buy-Positional-SL-7644 & TGT-7784-CMP-7704(Lalit39)

As we were confirm that Nifty will recover strongly therefore we waited and when Nifty was trading near the higher levels of the day and NIFTY-Jul Fut target was achieved then we sent following profit Booking SMS to our paid clients at 03:18 PM:-

NIFTY Jul F&O(Bought on 04-07-2014)-Cover and book profit immediately-CMP Fut-7785/CMP CE-94(Lalit39)

As we always talk with those proofs which no one can deny therefore updating following picture of above SMS sent to our paid clients:-

1st Website Picture:-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

2nd Website Picture:-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

Only 2 following information are deleted in above SMS Picture due to official secrecy rules:-

1- Numbers of sent SMS.
2- SMS sending Website name.

Conclusions (After Putting All Studies Together)

Rally is very much on and no signal of its completion yet. Just click following topic link which was posted on 12-05-2014 and understand the calculations of on going rally:-

Minimum target of Nifty at 8616.90

Bullish market Wave-iii of Wave-3 continuation towards those higher levels which can not be easily imagined at this moment because following minimum waves are still left:-

1- Wave-iii of Wave-3 continuation and no signal of its termination yet.
2- Corrective Wave-iv of Wave-3 will start after on going Wave completion and this corrective will correct whole that up move which started from 5933.30.
3- Impulsive Wave-v of Wave-3 will start after previous corrective wave completion and this Wave will form new high above the top of Wave-iii of Wave-3. It should also be kept in mind that Wave-iii of Wave-3 top formations confirmation has not been seen yet.
4- Wave-v of Wave-3 completion will mean termination of Wave-3 and corrective Wave-4 beginning. 
5- Corrective Wave-4 will correct whole up moves which started from 5700.95.
6- Impulsive Wave-5 will start towards new top formation above the top of Wave-3.

Next week will be full of big events because Budget session will start from 7th July and volatility will remain high on following events:- 

1- Rail Budget on 8th July
2- Economic survey on 9th July
3- Budget on 10th July

As Economic survey may present disappointing picture therefore 9th july may be a corrective day but firstly volatility and finally rally is expected after Union Budget on 10th July.

Mid-session Outlook(04-07-2014)

Although last 2 sessions closing above 7700 but we told for the possibility of slipping below 7700 in all 3 previous Outlooks and Nifty slipped below it sharply as well as today lowest formation at 7661.60.

As sentiment was heated and and some selling was also seen yesterday therefore intraday correction below 7700 was expected and it was updated again and again. Very Short Term correction beginning and 1st signal of its completion through panic bottom formation as well as inverted Head and Shoulder pattern formation in last 45 Minutes,its Neckline is at 7688 and once sustaining above it will mean fresh rally after today started very Short Term correction completion.