Technical Analysis and Market Outlook(01-08-2014)

Nifty-Intra Day Chart (31-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- First 4 hours trading between 7773-7791 with mixed patterns formations
2- Last 3 hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 7722-7791

Conclusions from intra day chart analysis 

Although closing at the lowest of the day but first 4 hours trading with mixed patterns formations and last 3 hours Down moves in Bullish Falling Channel therefore .90 down closing will be understood only derivative expiry reaction. As clear selling patterns not seen and emergence of consolidation patterns also therefore still expectations of rally continuation above 7840 are alive.

As all the Global markets are in Red and some are deep down therefore sentiment is depressed today morning therefore firstly negative zone trading after gap down opening will be seen but finally rally will be seen in the coming weeks.

Technical Analysis and Market Outlook(31-07-2014)

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

                                                                                              Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Supports and consolidation between 7708-7727
3- Last hours up moves between 7756-7798 with mixed patterns formations because both both intraday corrections and in Bearish Rising Channel
4- Whole day actual trading between 7708-7798

Conclusions from intra day chart analysis 

As follow up consolidations and lower levels supports after previous sessions good consolidations also therefore strong recovery from lower levels in last hours but with  mixed patterns formations between 7756-7798 and Nifty will firstly trade and prepare for next trend within this range as well as valid break out of this range will be next immediate trend confirmations. Expected that finally rally and new life time high formation will be seen in the coming sessions.

Pre-closing Outlook(30-07-2014)

Following lines was told yesterday in Technical Analysis and Market Outlook(30-07-2014):-

strong indication of 2 sessions correction completion at day's lowest(7723)

Following lines was told at  12:28 PM on 25-07-2014 in Mid-session Outlook:-

Nifty will not sustain below yesterday lowest(7772)

As intraday charts showed consolidation patterns formations therefore we posted crucial supports levels and Nifty could not sustain below 7772/7723 as well as last 2 sessions correction completed at 7708 today. First 4 hours intraday charts also showed consolidation today therefore expectations of new life time high formation and rally continuation in the coming sessions.

Technical Analysis and Market Outlook(30-07-2014)

Nifty-Intra Day Chart (28-Jul-2014):-

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Technical Patterns and Formations in today intraday charts

1- First 4 hours down moves in Bullish Falling Channel.
2- 2 hours consolidation between 7723-7733 
3- Whole day actual trading between 7723-7799

Conclusions from intra day chart analysis 

Firstly 4 hours down moves in Bullish Falling Channel and 2 hours lower levels consolidation therefore strong indication of 2 sessions correction completion at day's lowest(7723) and possibility of up moves towards and above 7840 in the coming sessions.  

Mid-session Outlook(28-07-2014)

Union Budget 2014-15 was expected to be passed today but Parliament adjourned till 11:00 AM on 30-07-2014 and continuously down moves seen towards next supports at 7720. As today down moves are showing Bullish Falling Channel and supports also seen between 7723-7733 therefore firstly sustaining beyond this range should be watched for correction continuation/completion.

Deeper correction is not expected and up moves are expected after follow up consolidation in the coming sessions.

As I am busy therefore Weekly Outlook is not being updated today but Mid-session Outlooks will be posted during trading hours. 

Pre-closing Outlook(25-07-2014)

Following line was told today at 12:28: PM in Mid-session Outlook(25-07-2014):-

Nifty will not sustain below yesterday lowest(7772) 

Although sharp down below 7772 but Nifty could not sustain below 7772 and now trading at 7790 after lower levels supports between 7749-7766.

As some FM clarifications on Budget specially on Mutual Funds were disliked by market therefore sharp down after its announcement and market will finally react on Budget passing in next week but still finally rally is expected above today highest(7840) despite now trading .51% down.

Mid-session Outlook(25-07-2014)

Slipping immediately after opening and now trading near the lowest of today(7781) but today intraday charts are showing consolidation indications therefore expected that Nifty will not sustain below yesterday lowest(7772) and finally rally will be seen above today highest(7840).

Technical Analysis and Market Outlook(25-07-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7772-7790
2- Sharp up
3- Bearish Rising Wedge formation in last hour between 7811-7835
4- Whole day actual trading between 7772-7835

Conclusions from intra day chart analysis 

Although new life time high formation and closing above 7800 yesterday but we are continuously telling in every Outlook for up moves and rally above 7655/7800 since 11-07-2014 when Nifty was trading near 7400. All the previous 20 Outlooks on Home page and Archive of this Blog are live proofs of this fact and any one can verify it any time. 

Firstly lower levels good consolidation and after that sharp up but Bearish Rising Wedge formation also seen in last hour yesterday therefore follow up consolidation is firstly required between or near about 7811-7835 for valid break out and sustaining above 7800. As good consolidation between 7772-7790 therefore until Nifty will not sustain below 7772 till then any decisive down move will not be considered.

Expected that finally rally will remain continued above 7835 after follow up consolidation in the coming sessions.

Live Proofs of Indian Stock Markets 100% Accurate Predictions

All the previous 20 Outlooks on Home page and Archive of this Blog are live proofs of this fact that finally up moves and rally above 7655/7800 are being continuously told since 11-07-2014 when Nifty was trading near 7400 and now Nifty is trading at 7834.

Many calls and SMS are to me for next target above 7800. In this regard I want to inform that targets above 7800 will be discussed only with paid clients therefore Please don't call me for its discussion.

Mid-session Outlook-2(24-07-2014)

Following line was told in Technical Analysis and Market Outlook(23-07-2014):-

Last resistances of Nifty are between 7756-7800 and closing within this range yesterday but more consolidations is firstly require for valid break out above 7800.

Following lines were told in Technical Analysis and Market Outlook(24-07-2014):-

1- more preparation(technical positions formation) is still required for any side decisive moves.
2- Expected that finally fresh rally will be seen above 7809 after follow up consolidation within and near about 7756-7800.

Resistance range of 7756-7800 was updated more than 10 times in last 2 weeks and most time trading within this range with consolidation patterns formations 2  sessions(today and yesterday) therefore finally fresh rally is expected above 7800. 

Mid-session Outlook(24-07-2014)

Although most time negative zone trading but with lower levels supports and consolidation patterns formations therefore rally continuation hopes above 7800 are still alive.

Technical Analysis and Market Outlook(24-07-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7797-7808 
2- Selling between 7784-7794 
3- Consolidation between 7781-7785 
4- Consolidation between 7769-7778
5- Consolidation between 7753-7767
6- Up moves with sufficient correction  
7- Whole day actual trading between 7753-7809

Conclusions from intra day chart analysis 

Following resistance range was updated more than 10 times in last 2 weeks:-

7756-7800

As  resistances therefore following line was told in Technical Analysis and Market Outlook(23-07-2014):-

Last resistances of Nifty are between 7756-7800 and closing within this range yesterday but more consolidations is firstly require for valid break out above 7800.

Nifty traded most time within mentioned resistance range today between 7753-7809 and prepared for next big trend beyond 7756-7800 

Although higher levels selling but lower levels good consolidation also seen today therefore mixed patterns formation and more preparation(technical positions formation) is still required for any side decisive moves. As consolidation patterns also seen today between mentioned resistance range therefore emergence of rally continuation hopes above 7809 after follow up consolidation in the coming 1/2 sessions.

Expected that finally fresh rally will be seen above 7809 after follow up consolidation within and near about 7756-7800.

Mid-session Outlook(23-07-2014)

As sentiment was heated and resistances just below 7800 therefore  intraday correction was required and being seen after gap up opening and new all time high formation at 7809.20. Nifty is trading flat after loosing all intraday gains but today patterns are showing consolidation indications about which we told following lines in Technical Analysis and Market Outlook(23-07-2014):-

1- more consolidations is firstly require for valid break out above 7800.
2- fresh consolidation is firstly required for fresh decisive rally above 7800.

As intraday charts are showing consolidation indications today therefore rally continuation above 7800 is expected in the coming 1/2 sessions.

Technical Analysis and Market Outlook(23-07-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Consolidation between 7705-7733
3- Strong recovery from lower levels in last hour.
4- Whole day actual trading between 7705-7773

Conclusions from intra day chart analysis 

Although more than 2 hours up moves in Bearish Rising Channel and channel broken down also but lower levels good consolidation before strong recovery in last hour. Last resistances of Nifty are between 7756-7800 and closing within this range yesterday but more consolidations is firstly require for valid break out above 7800.

As Indian markets closed near the highs yesterday and most Global markets are positive therefore sentiment is heated today morning and trading above 7800 after gap up opening can not be ruled out but fresh consolidation is firstly required for fresh decisive rally above 7800.

All the previous 20 Outlooks on Home page and Archive of this Blog are live proofs of this fact that finally up moves and rally above 7655/7800 are being continuously told since 11-07-2014 when Nifty was trading near 7400 and still expected that rally will remain continued after follow up consolidations.

Pre-closing Outlook(22-07-2014)

Following conclusive line was told today at 08:47:00 AM in Technical Analysis and Market Outlook(22-07-2014):- 

Although immediate resistances but lower levels good supports also therefore finally rally above 7800 is still expected despite yesterday closing near the lowest of the day.

Nifty is now trading 1.02% up and high possibility of rally continuation above 7800 within next 1/2 sessions after fresh consolidation between last resistance range(7756-7800).

Technical Analysis and Market Outlook(22-07-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling in first hour between 7707-7722.
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Lower levels consolidation patterns formations.
5- Last 5 hours trading with Mixed patterns formations between 7675-7707
6- Whole day actual trading between 7675-7722

Conclusions from intra day chart analysis 

Following line was told yesterday at 10:51 AM in Post-open Outlook:-

As is now some profit booking seen in first hour today

Following  line was told yesterday at 12:34 PM in Mid-session Outlook:-

valid break of today trading range(7682-7722) will be next trend first indication and should be firstly watched now.

As  profit booking in first hour therefore Nifty closed near the lowest of the day and closed above 7682 at 7684.20 because lower levels consolidation was also seen,

Last 5 hours trading with Mixed patterns formations between 7675-7707 because both buying and selling patterns seen within this range therefore Nifty is not prepared for any side decisive moves beyond yesterday trading range(7675-7722) and will firstly prepare for next trend within this range today.

Next resistances are as follows:-

1- 7690-7731
2- 7756-7800

Nifty traded most time within 1st resistance range and resistances are up to 7800 as well therefore fresh consolidation is firstly required for next rally. Follow up moves with sustaining beyond 7690-7800 will be next big trend confirmation and should be firstly watched in the coming sessions.

Let market trade and react in mentioned resistance range then next trend will be updated according to intraday charts formations completion in coming sessions and as if now following ranges should be watched for understanding next trend:-

1- 7675-7731( Below 7675 will mean down moves towards next support and above 7731 will be 1st indication of next rally above all time high)
2- 7756-7800(As good selling within this range therefore Nifty will take its own complete time for a decisive rally above 7800 and valid break out of 7800 will mean blasting rally)

Although immediate resistances but lower levels good supports also therefore finally rally above 7800 is still expected despite yesterday closing near the lowest of the day.

Mid-session Outlook(21-07-2014)

Although some profit booking in first hour but minor consolidation also seen at lower levels today therefore valid break of today trading range(7682-7722) will be next trend first indication and should be firstly watched now.

Post-open Outlook(21-07-2014)

All the Outlooks on Home Page of this Blog are live proofs are of this fact that we projected only and only Bullish views in all the Outlooks of whole previous week and  Nifty moved up more than 3% since the beginning of previous week.

Next resistances are as follows:-

1- 7690-7731
2- 7756-7800

Nifty is trading between 1st resistance range since opening today and resistances are up to 7800 as well therefore fresh consolidation is firstly required for next rally. Follow up moves with sustaining beyond 7690-7800 will be next big trend confirmation and should be firstly watched now.

Let market trade and react in mentioned resistance range then next trend will be updated according to intraday charts formations completion in coming hours. As is now some profit booking seen in first hour today.

As I am busy therefore Weekly Outlook is not being updated today but Mid-session Outlooks will be posted during trading hours. 

More or less same Bullish view for coming sessions which has already been updated in previous week Outlooks and is avaliable also on the Home Page of this Blog. 

Mid-session Outlook-2(18-07-2014)

Although 78 points recovery from lower levels despite weak Global markets but slipping also from higher levels(7673) after gap down weak opening of all European markets. Certainly Indian markets are out performing Global markets and once sustaining above 7655/7673 will mean fast strong rally. If any most depressing news does not come from Israel-Palestine conflict and Crude rates then it is confirm that strong rally will be seen in next week.