Technical Analysis and Market Outlook(28-08-2014)

Nifty-Intra Day Chart (27-Aug-2014):-

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Technical Patterns and Formations in today intraday charts

1- Most time trading between 7934-7946
2- Down moves in Bullish Falling Channel within most time trading range.
3- Support between 7917-7928
4- Whole day actual trading between 7917-7946

Conclusions from intra day chart analysis 

Following lines were told  today at 08:11 AM in Technical Analysis and Market Outlook(27-08-2014)

As 5 hours Selling between 7940-7968 on 25-08-2014 which is just above yesterday selling range(7898-7915) therefore 7898-7968 will be understood strong resistance range and complete consolidation is must for decisive rally above life time highest.

As Indian markets were not prepared for any rally therefore Nifty traded most time within last 2 sessions selling ranges between 7934-7946 and prepared for next trend. Although slipping below most time trading range and sharp fall was also seen at 02:45 PM but today intraday charts are showing consolidation patterns also. 

Finally trading patterns of today will be understood a part of consolidation process and emergence of fresh rally continuation expectations in next week but follow up consolidation is equally required because last resistance range(7940-7968) is strong.

Pre-closing Outlook(27-08-2014)

Following lines were told today at 08:11 AM in Technical Analysis and Market Outlook(27-08-2014)

1- Although flat to positive Asian markets but SGX Nifty is trading more than 25 points up today morning therefore positive opening may be seen in Indian markets but immediate decisive up moves will not be seen
2- 7898-7968 will be understood strong resistance range therefore complete consolidation is must for decisive rally above life time highest.

Firstly more than 5 hours trading between 7926-7946 with consolidations and this range broken down also but as such selling not seen within this range therefore today sharp fall at 02:45 PM will be understood a part of cosolidation process and rally continuation expectations will remain a live in next week .

Technical Analysis and Market Outlook(27-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7898-7915 
2- Consolidation between 7863-7884 
3- Whole day actual trading between 7863-7915

Conclusions from intra day chart analysis 

Importance of supports at 7856 was told in the all the Outlooks for yesterday trading and Nifty got supports just above it at 7862.45 yesterday as well as strong recovery also seen from lower levels. Although lower levels supports but higher levels good selling were also seen yesterday therefore firstly follow up consolidation is required for sustaining above yesterday highest(7915). 

As 5 hours Selling between 7940-7968 on 25-08-2014 which is just above yesterday selling rangeselling range(7898-7915) therefore 7898-7968 will be understood strong resistance range and complete consolidation is must for decisive rally above life time highest.

Although flat to positive Asian markets but SGX Nifty is trading more than 25 points up today morning therefore positive opening may be seen in Indian markets but immediate decisive up moves will not be seen because above mentioned resistances are lying at higher levels. 

Nifty will trade and prepare for next trend between 7856-7968 in the coming sessions and finally sustaining beyond this range will be next big trend confirmation.

Pre-closing Outlook(26-08-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(22-08-2014):-

1- Supports between 7856-7891 
2- high possibility of slipping towards above mentioned supports range
3- Firstly sustaining beyond 7856 should be watched in the coming sessions.

Importance of supports at 7856 was told in both previous Outlooks and Nifty got supports just above it at 7862.45 after slipping from intraday higher levels.

Although lower levels some supports but higher levels selling was also seen today therefore firstly sustaining beyond above mentioned supports+today trading range(7856-7915) and should be watched. 

Mid-session Outlook(26-08-2014)

Supports between 7856-7891 was updated yesterday in previous Outlook and this support is most crucial because Inverted Head and Shoulders Bullish pattern formation(its Neckline is at 7891) was seen within this range on 21-08-2014. Just click following link and understand above mentioned Bullish pattern formation structure:-

Technical Analysis and Market Outlook(22-08-2014)

Nifty is trading within above mentioned supports(7856-7891) for the last 1 hour and finally sustaining beyond this range should be watched for:-

1- Deeper correction confirmation below 7856
2- Yesterday started correction completion above 7891

Technical Analysis and Market Outlook(26-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7940-7968 in first 5 hours
2- Down moves in last hour
3- Whole day actual trading between 7898-7968

Conclusions from intra day chart analysis 

Although down moves in last hour today but we told about it well before its happening and told following lines:-

1- At 2:32 PM on 22-08-2014 in Mid-session Outlook(22-08-2014):-"minor down moves below today lowest(7903) can not be ruled out"
2- At 01:44 AM on 25-08-2014 in Technical Analysis,Research & Weekly Outlook(Aug 25 to Aug 28,2014):- "emergence of Short Term correction possibility before next decisive and strong rally above life time high(7929)"

4 Sessions sideways trading between 7856-7929 in previous week with following supports and resistances:-

1- Resistances between 7898-7929
2- Supports between 7856-7891 

As today closing is within above mentioned resistance range and good selling just above it today between 7940-7968 therefore complete consolidation is required for any decisive rally above today highest and high possibility of slipping towards above mentioned supports range. Firstly sustaining beyond 7856 should be watched in the coming sessions for:-

1- Deeper correction below 7856
2- Today started correction completion above 7856

No guessing and sustaining beyond 7856 should be firstly watched for above mentioned moves because next big trend of Indian markets will be decided according to follow up moves in the coming sessions.

Mid-session Outlook(25-08-2014)

All trends are up and Bullish rally is very much on but indicators are showing negative divergence in Overbought zone as well as selling patterns formations were also seen in last 4 sessions intraday charts. Although continuous up moves since opening today but without force and on the back of more than 50 points up Dow's Futures and strong European markets also therefore View will remain cautious because emergence of Short Term correction possibility.

Post-open Outlook(25-08-2014)

As Bull markets consolidate at higher levels also therefore strong recovery immediately after opening but confirmation through follow up consolidation and sustaining above 7929 is must for fresh decisive rally.

Technical Analysis,Research & Weekly Outlook(Aug 25 to Aug 28,2014)

Nifty-Intra Day Chart (Aug 19 to Aug 22,2014):-

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Technical Patterns and Formations in last 4 Sessions intraday charts

1- Selling between 7898-7919 in first 3 sessions 
2- Supports and consolidation between 7856-7891 in first 3 sessions
3- Selling between  7916-7929 on 22-08-2014
4- 4 Sessions actual trading between 7856-7929 

Conclusions from 4 Sessions intra day chart analysis 

Nifty traded 49 sessions between 7423-7840 and this range broken out on 18-08-2014 but its broken out confirmation was required because break out was without required force and whole day up moves were slow on that day. Technically valid break out confirmation is derived through:-

1- 3% up moves the top of previous range(7840) or
2- 3 sessions sustaining above the top(7840) of previous range 

Although Nifty closed well above the top of 49 sessions range(7423-7840) in all the sessions of previous week but as such consolidation not seen and selling patterns were also in last 4 sessions despite weekly closing is near the top of week. 

All trends are up and Bullish rally is very much on but indicators are showing negative divergence in Overbought zone as well as selling patterns formations were also seen in last 4 sessions intraday charts therefore emergence of Short Term correction possibility before next decisive and strong rally above life time high(7929). 

View is watchful and cautious as well as until fresh consolidation will not be seen in the beginning of next week till then sustaining above life time high(7929) will not be considered and possibility of reentering into previous 49 sessions range(7423-7840) will remain alive. 

Firstly sustaining beyond last 4 sessions(7856-7929 should be watched in next week for:-

1- Short Term correction possibility below 7856
2- Fresh strong rally possibility above 7929

Mid-session Outlook(22-08-2014)

Although whole time positive zone trading after Green opening and new life time high formation as well but today intraday charts are not showing strength therefore minor down moves below today lowest(7903) can not be ruled out.

Technical Analysis and Market Outlook(22-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7904-7919 
2- Inverted Head and Shoulders Bullish pattern formation(its Neckline is at 7891) 
3- Whole day actual trading between 7856-7919

Conclusions from intra day chart analysis 

Volatile market with last 3 sessions new high and low formation as well as higher levels selling and lower levels supports. As lower levels supports with Inverted Head and Shoulders Bullish pattern formation and its Neckline is at 7891 therefore its valid break out will be next decisive moves first indication and sustaining beyond today trading range(7856-7919) will give following next trends confirmations:-

1- Very Short Term correction possibility below 7856
2- Fresh strong rally possibility above 7919

Pre-closing Outlook(21-08-2014)

Volatile market with higher levels selling and lower levels supports with Inverted Head and Shoulders Bullish pattern formation(its Neckline is at 7891) between 7856-7919. As Neckline is at 7891 therefore its valid break out will next decisive moves first indication and sustaining beyond 7856-7919 will give those next trends confirmations which have alredy been updated in previous Outlook today. 

Mid-session Outlook(21-08-2014)

High volatility immediately after opening and slipping also after new life time high formation today. As selling was seen at higher levels in last 2 sessions and today also therefore until Nifty will not sustain above today highest(7919) after complete follow up consolidation till then very Short Term correction possibility will remain alive and firstly sustaining beyond 7865-7919 should be watched for:-

1- Very Short Term correction possibility below 7865
2- Fresh strong rally possibility above 7919

Technical Analysis and Market Outlook(21-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7880-7898
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7865-7898

Conclusions from intra day chart analysis 

Although higher levels good selling but all down moves in Bullish Falling Channel therefore mixed patterns formations today also after same mixed patterns yesterday and same following conclusions which updated yesterday in Technical Analysis and Market Outlook(20-08-2014):-

1- As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out
2- and valid break out confirmation of 49 sessions range(7423-7840) will be after sustaining above today highest(7918) 
3- as well as it will open the gates of next strong rally above 8000. Expected that very Short Correction will complete above next following supports:-

1- 7696-7718
2- 7655-7664 

As positive news of Government approval of Rs 1 lakh crore for Digital India programme therefore some up moves may be seen immediately after opening tomorrow but follow up consolidation is firstly required for next rally above 7918 because following 2 resistances at higher levels:-

1- 7880-7898
2- 7902-7918

Finally rally above 8000 is expected after follow up consolidations in the coming sessions.

Mid-session Outlook(20-08-2014)

Although Indian markets closed positive and Dow Jones was trading more than 75 points up at 11:24 PM yesterday but then at that time following lines were told yesterday in Technical Analysis and Market Outlook(20-08-2014):-

As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out

Very Short Term correction possibility was told and most time negative zone trading between 7867-7898 but today intraday charts have not shown any one sided positions formations therefore sustaining beyond 7867-7918 should be firstly watched now for next big trend confirmations.

Technical Analysis and Market Outlook(20-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7902-7918
2- Support between 7882-7893
3- Whole day actual trading between 7882-7918

Conclusions from intra day chart analysis 

Whole day sideways trading within 36 points with higher levels selling and lower levels supports therefore some more follow up preparation is still required for valid break out confirmation of 49 sessions range(7423-7840).

As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out and valid break out confirmation of 49 sessions range(7423-7840) will be after sustaining above today highest(7918) as well as it will open the gates of next strong rally above 8000. Expected that very Short Correction will complete above next following supports:-

1- 7696-7718
2- 7655-7664 

Finally rally above 8000 is expected after follow up consolidations in the coming sessions.

As busy therefore Mid-session Outlooks have not been updated today.

Technical Analysis and Market Outlook(19-08-2014)

Nifty-Intra Day Chart (18-Aug-2014):-

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Technical Patterns and Formations in today intraday charts

1- Whole day slow and without force up moves.
2- Whole day actual trading between 7780-7880

Conclusions from intra day chart analysis 

Short Term trend was sideways between 7423-7840 for the last 49 sessions and this range is broken out today but whole day up moves were slow and without force therefore confirmation through sustaining above 7840 is firstly required  tomorrow for next decisive rally. 

As US markets are trading more than 1% up at this moment therefore sentiment may be heated tomorrow morning and gap up opening above 7900 can not be ruled out,once confirmation of fresh consolidation at higher levels and sustaining above 7840 will mean fresh strong rally above 8000.

Mid-session Outlook(18-08-2014)

New life time high formation and now trading at 7859 but only one confirmation of sustaining above 7740 is required yet because;-

1- Today and last Thursday up moves are slow as well as lacking force.
2- Today rally is on the back of more than 55 points strong Dow's Futures(now trading 80 points up) and more than 1% up almost all European markets.

Post-open Outlook(18-08-2014)

Indian markets have shown follow up consolidation indications immediately after opening today therefore sustaining beyond last Thursday most time trading range(7760-7796) should be firstly watched for first strong signal of next trend and confirmation will be sustaining beyond 7760-7835.

Technical Analysis and Market Outlook(18-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Almost whole day slow and without force up moves between 7760-7796.
2- Whole day actual trading between 7740-7796

Conclusions from intra day chart analysis 

Although whole day up moves and closing near the higher levels of the day but slow and without force up moves between 7760-7796 therefore profit booking possibility and firstly very short term correction is expected. Folloing resistances were updated in previous Outlooks:-

1- Resistance between 7773-7791
2- Resistance between 7811-7835

As profit booking seen between first resistance range therefore possibility of slipping below 7760 and same view which was updated in following lines on 14-08-2014 in Mid-session Outlook:-

rally is slow and lacking required force therefore sustaining above 7835 with follow up consolidation is firstly required on next Monday for valid break out confirmation of 7840.