Mid-session Outlook(22-09-2014)

Following conclusive lines were told today at 01:10 AM in previous Outlook:-

As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week. 

Firstly Nifty slipped 55 points immediately after opening today and recovered after consolidations between 8065-8090. Immediate resistances are between 8124-9144 therefore following 2 ranges should be firstly watched now:-

1- 8065-8144(For next trend first 1st strong indication)
2- 7924-8170(For next big moves confirmations) 

As Indian markets outperformed Global cues today therefore up sides break out possibility above 8144/8177 is more

Technical Analysis,Research & Weekly Outlook(Sep 22 to Sep 26,2014)

Nifty-Intra Day Chart (Aug 27 to Sep 19,2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 17 Sessions intraday charts:-

1- Supports between 7924-7991
2- Resistances between 8110-8170 
3- 17 Sessions actual trading between 7918-8170

Conclusions from 17 Sessions intra day chart analysis 

17 Sessions side ways market between 7918-8170 with higher levels selling and lower levels buying. Previous supports were between:-

1- 7924-7952
2- 7856-7891

Nifty got supports between above supports on 16th and 17th Sep and strong rally seen on 18-09-2014.

Previous resistances were between:-

1- 8090-8127
2- 8140-8170 

Follow up selling seen between above resistance ranges on 19-09-2014 therefore possibility of slipping towards next supports in the beginning of next week.

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 3 hours selling between 8124-9144 
2- Whole day actual trading between 8106-8160

Conclusions from intra day chart analysis 

As more than 3 hours selling therefore possibility of slipping below day's lowest(6106) because follow up selling seen between following previous 2 resistance ranges:-

1- 8090-8127
2- 8140-8170 

Conclusions (After Putting All Studies Together)

When Nifty was trading at too much lower levels then following topics were posted;-

1- We told following line on 12-05-2014 in Minimum target of Nifty at 8616.90

As per Elliot Wave theory Nifty is well set for rally towards minimum target at 8616.90.

2- We told following line on 21-10-2013 in Minimum target of Nifty at 6724.60

Nifty is well set for rally towards minimum target at 6724.60. 

(Just click above topic links and understand the calculations of above targets according to Elliot Wave theory)

Long and Intermediate Term trends are up and Short Term Trend is sideways between 7924-8170 for the last 17 sessions because both lower levels supports and higher levels selling seen within this range on 19-09-2014 therefore we told following line at 02:26 PM in Mid-session Outlook-2(19-09-2014):-

last 2 hours intraday charts are showing selling indications

As follow up supports at lower levels and follow up selling at higher levels were seen in previous week therefore both supports and resistances have been strengthened also and expected that Nifty will firstly trade and prepare for next trend within last 17 sessions trading range(7924-8170) 

As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week. 

As Broadband turned slow in last minutes therefore Pre-closing Outlook(19-09-2014) could be posted at 03:30 PM.today.

Pre-closing Outlook(19-09-2014)

Although Nifty traded most time in positive zone trading When was trading in Green then following line was told in Previous Outlook

last 2 hours intraday charts are showing selling indications

Nifty could not move up and now trading in Red as well as sustaining beyond today trading range should be firstly watched in next week for next trend confirmation 

Mid-session Outlook-2(19-09-2014)

Although most time positive zone trading and now Nifty is still in Green also but last 2 hours intraday charts are showing selling indications 

Mid-session Outlook(19-09-2014)

Following conclusive lines were told yesterday in Technical Analysis and Market Outlook(19-09-2014)

1- some more follow up consolidation is still required within next resistance ranges(8090-8127 and 8140-8170) and 
2- its valid break out above 8170 will mean fresh strong rally after Short Term Correction completion.

Above resistances were updated and more than 3 hours trading within mentioned resistances between 8106-8160 today and preparing for next decisive moves. As intraday patterns have not given any indication yet therefore coming hours trading patterns will be watched than then break out direction will be decided from intraday charts analysis and will be updated accordingly. 

No guessing and never gossiping,whatsoever intraday,Daily,Weekly and Monthly charts suggests only that is updated. As valid break out of 8090-8170 will decide next big moves therefore should also be firstly watched for confirmations.

Technical Analysis and Market Outlook(19-09-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Whole day strong rally after negative opening
2- Huge 74 points huge jump Jump immediately after opening
3- Up moves with continuous higher levels consolidations.
4- Whole day 180 points sharp rally between 7940-8120

Conclusions from intra day chart analysis 

Although 180 Points strong rally today but when Nifty closed near the lowest of the day on 16-09-2014 then following lines were told in Technical Analysis and Market Outlook(17-09-2014):-

Bullish Falling Wedge pattern formations was also seen in last hour today therefore emergence of Pull Back rally possibility tomorrow

Pull Back rally possibility was told and Nifty closed 43 points up on 17-09-2014

Following lines were told yesterday in Technical Analysis and Market Outlook(18-09-2014):-

1- As most time good consolidations and minor selling in last hour today therefore
2- up moves above today highest(7990) is firstly expected 

As was told 100% same happened today and 7990 was crossed as well as closed 139 points up today

1- In Nifty-Sep Fut- 75 points huge jump from 7986 to 8062 within 2 minutes between 09:37 AM and 09:39 AM 
2-  In Nifty Spot- 74 points huge jump from 7975 to 8049 within 7 minutes between 09:36 AM and 09:43 AM.

Above mentioned fact is well proved from following intraday Charts of today:-

1-Nifty-Sep Fut Intraday Charts of between 09:37 AM and 09:39 AM:-

2-Nifty Spot Intraday Charts of between 09:36 AM and 09:43 AM:-

Next resistances are as follows:-

1- 8090-8127(Nifty closed within this range today)
2- 8140-8170 

Long and Intermediate Term Trends are up and and now Short Term Trend is sideways between 7924-8170 because still higher levels resistances and lower levels supports within this range. Certainly strong rally today and it was expected also because most time good consolidations yesterday and lower levels consolidation pattern formation on 17-09-2014.

As no selling patterns formations and higher levels consolidations today therefore rally continuation is expected in the coming sessions because until complete follow up selling will not develop till then any down move can not be considered. As above mentioned last 2 resistance ranges and Nifty closed within 1st resistance range also today therefore some more follow up consolidation is still required within next resistance ranges(8090-8127 and 8140-8170) and its valid break out above 8170 will mean fresh strong rally after Short Term Correction completion.

Mid-session Outlook(18-09-2014)

Following 4 resistance ranges were posted yesterday in Technical Analysis and Market Outlook(18-09-2014)

1- 8022-8040
2- 8052-8060 
3- 8090-8127
4- 8140-8170 

2 resistances have been crossed and 3rd resistance which is strong also has been tested in blasting rally of today. Long and Intermediate Term Trends are up and and now Short Term Trend is sideways between 7924-8170 because still higher levels resistances and lower levels supports within this range. Certainly strong rally today and it was expected also because most time good consolidations yesterday.

As no selling patterns seen yet and higher levels consolidations also being seen therefore rally continuation is still expected. Until complete follow up selling will not develop till then next down moves will not be considered. Follow up consolidation within next resistance ranges(8090-8127 and 8140-8170) and its valid break out will mean fresh strong rally after Short Term Correction completion.

Post-open Outlook(18-09-2014)

Following conclusive line was told yesterday in Technical Analysis and Market Outlook(18-09-2014):-

up moves above today highest(7990) is firstly expected 

As was told yesterday all that proved 100% accurate today and highest formation at 8051.35 today after strong recovery from lower levels.  

Forceful up moves today and strong indication of correction completion also but multiple resistances up to 8170 therefore further up moves may be slow because fresh consolidation is firstly required for next up moves and same view that still Nifty will be understood side ways between 7924-8170. Let next 1/2 resistances cross then correction completion will be considered because many times Bearish markets remains highly volatile also. 

FOMC Announcements's reaction on Global Markets Today

Pre-open Outlook(18-09-2014)

As some Asian markets are down and Hang Seng is more than .90% weak therefore sentiment is turning dampened today morning. As Indian markets are in corrective mode and Short Term Trend is down therefore firstly negative zone trading after Red opening will be seen in Indian markets. 

Both buying and selling patterns formation  between 7937-7990 yesterday therefore Nifty will firstly prepare for next trend within this range and sustaining beyond this range will be confirmation of next Short Term Trend confirmation and should be firstly watched today because all the Global markets will react on FOMC announcements also today.

Technical Analysis and Market Outlook(18-09-2014)

Nifty-Intra Day Chart (17-Sep-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Selling patterns in last 1 hour between 7968-7980
3- Whole day actual trading between 7937-7990

Conclusions from intra day chart analysis 

Whole day positive zone trading with high volatility and all down moves in Bullish Falling Channel therefore strong indications of today started Pull Back Rally continuation. Next supports are as follows:-

1- 7924-7952
2- 7856-7891

As follow up supports seen within 1st Support range today and yesterday therefore this support has strengthened and firstly complete selling is required for any down moves below 7924. Next Resistances are as follows:-

1- 8022-8040
2- 8052-8060 
3- 8090-8127
4- 8140-8170 

As multiple resistances are lying at higher levels therefore firstly complete consolidation is also required for decisive up moves. It is clear that both higher levels good selling and lower levels equally good buying between 7924-8170 therefore Nifty will be understood side ways within this range.

Both buying and selling patterns seen between 7937-7990 today therefore mixed patterns formation will be understood and sustaining beyond this range will be confirmation of next Short Term Trend .  As most time good consolidations and minor selling in last hour today therefore up moves above today highest(7990) is firstly expected 

Nifty will firstly prepare for next big moves in the coming sessions within 7924-8170. Let Nifty prepare for next big moves then will be updated from intraday charts patterns formations as being  done for the last more than 7 years.

Pre-closing Outlook(17-09-2014)

In continuation of previous Outlook only one change that minor selling patterns seen in last 1 hour therefore firstly sustaining beyond following ranges should be watched tomorrow for next trend confirmations:-

1- Next Support Range(7924-7952)
2- Today trading range(7937-7990)

Mid-session Outlook(17-09-2014)

Although intraday volatility ans slipping from higher levels also but today intraday charts are not showing any selling patterns and lower levels higher bottom formations with down moves in Bullish Falling Channels were also seen today therefore emergence of first indication of some up moves/correction completion and confirmation will be after sustaining above next Support Range(7924-7952).

Technical Analysis and Market Outlook(17-09-2014)

Nifty-Intra Day Chart (16-Sep-2014):-

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Technical Patterns and Formations in today intraday charts

1- First 3 hours selling between 8022-8040
2- Continuous down moves in last 4 hours
3- Bullish Falling Wedge formations in last hour.
4- Whole day actual trading between 7926-8040

Conclusions from intra day chart analysis

Although deeper correction was seen and Nifty closed 1.36% down today but we were continuously telling for such down moves since 12-09-2014. Nifty closed near the lowest of the day but Bullish Falling Wedge pattern formations was also seen in last hour today therefore emergence of Pull Back rally possibility tomorrow. Next supports are as follows:-

1- 7924-7952(Nifty closed within this range today)
2- 7856-7891

As Nifty closed within above mentioned 1st support range and Bullish Falling Wedge formations also seen in last hour therefore firstly sustaining beyond this supports for:-

1- First signal of Short Term Correction completion above 7952
2- Correction continuation towards 2nd supports range below 7924

Let some more consolidation happen and supports getting confirmation come then on going correction completion will be considered otherwise firstly Pull Back rally and after that correction continuation will be considered at this moment.

Mid-session Outlook(16-09-2014)

Although sharp fall in Indian markets and Nifty traded more than 1% down today but we are continuously telling for correction/deeper correction from 12-09 2014 and all the Outlooks on Home page of this Blog are live proofs of this fact.

Short Term Correction is on and its continuation will be expected and,let its completion confirmation come then will be updated. Next supports will be posted before the opening of tomorrow market in Technical Analysis and Market Outlook(17-09-2014).

Technical Analysis and Market Outlook(16-09-2014)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Lower levels supports immediately after opening 
2- Slow without force up moves
1- Selling between 8052-8060 
3- Whole day actual trading between 8031-8064

Conclusions from intra day chart analysis 

Following line was told  on 14-09-2014 in "Bearish Pattern Formations in last 9 Sessions Intraday Charts":-

As Hear and Shoulders like Bearish formations in last 9 sessions with neckline at 8052 therefore once sustaining below 8052 will mean much deeper correction.

Nifty hovered around 8052 whole day while most time trading between 8031-8064 and also selling was seen just above it between 8052-8060 today. As Nifty closed below 8052 after follow up selling just above it today therefore almost breaking down confirmation of Bearish Hear and Shoulders pattern's Neckline(8052) and resultant on going correction continuation is expected with possibility of deeper correction.

Pre-closing Outlook(15-09-2014)

Although whole day up moves after lower levels supports before 09:30 AM but up moves were slow and higher levels selling patterns indications also today therefore correction continuation is expected.

Mid-session Outlook(15-09-2014)

Although closed near the highest levels of the day on 12-09-2014 but we were not Bullish and told following lines at 3:28 PM in Pre-closing Outlook-2 on 12-09-2014:-

1- selling between 8087-8102 today and higher levels selling in previous sessions also
2- selling at higher levels also can not be ruled out in last half hour today
3- Until Nifty will not sustain above 8102/8127/8170 till then next up move will not be considered
4- firstly sustaining beyond 8052-8102 should be watched in next week for next trend confirmation

Nifty slipped below 8052 within first 5 minutes today and hovering it around for the last more than 2 hours. As some supports and consolidation also seen at lower levels today therefore sustaining beyond 8052 should be firstly watched today for the confirmation of deeper correction or its completion.

Bearish Pattern Formations in last 9 Sessions Intraday Charts

Technical Analysis,Research & Weekly Outlook

(Sep 15 to Sep 19,2014)

Nifty-Intra Day Chart (Sep 02 to Sep 12,2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 9 Sessions intraday charts

1- Consolidation and last Supports formations between 8058-8082  in 9 previous sessions
2- Selling(resistances) between 8090-8114
3- Selling(resistances) between 8109-8127 
4- Selling(resistances) between 8140-8170 
5- Head and Shoulders like Bearish formations in last 9 sessions with neckline at 8052.
6- 9 Sessions trading between 8052-8180

Conclusions from 9 Sessions intra day chart analysis

9 Sessions most time trading between 8058-8170 with higher levels good selling and lower levels some supports with consolidation also therefore Nifty will be understood sideways between 8052-8180 at this moment and sustaining beyond this range will be next trend confirmation. As Hear and Shoulders like Bearish formations in last 9 sessions with neckline at 8052 therefore once sustaining below 8052 will mean much deeper correction.

Nifty-Intra Day Chart (12-Sep-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 8090-8114.
2- Down moves in Bullish Falling Channel.
3- Triple bottom supports at lower levels.
4- Most time sideways trading between 8072-8102
5- Whole day actual trading between 8072-8114

Conclusions from intra day chart analysis 

Most time sideways trading between 8072-8102 with mixed patterns formation because higher levels selling but lower levels triple bottom supports and Down moves in Bullish Falling Channel also.
Although Nifty moved up forcefully in last hour and traded also last more than half hour at the higher levels of the day but this last hour up move will not be understood Bullish pattern because selling can not be ruled out in that heated sentiment in last more than half hour on 12-09-2014.

As intraday patterns are signalling good selling at higher levels despite closing at the highest of the day view is cautious and firstly follow up consolidation with minimum sustaining above day's highest(8114) is must for any next up moves

Conclusions (After Putting All Studies Together)

All Trends are up and Indian markets are most bullish as well as new life time high formation seen 9 times in last 1 month. Oscillators are overbought and showing correction indications as well as Head and Shoulders like Bearish formations also developed in last 9 sessions therefore emergence of minimum Short Term correction continuation possibility. As its Right Shoulder has not completely developed and lower levels supports also seen in last 9 sessions therefore more follow up selling is firstly required for valid Break of 9 sessions trading range and neckline(8052) of Head and Shoulders.

Following line was told at 1:11 PM in Mid-session Outlook(12-09-2014):-

More than 3 hours trading with higher levels selling between 8087-8102 today

We told for selling in all the Mid-session Outlooks on 12-09-2014 and even when Nifty was closing near the higher levels of the day then also we told following line  at 3:28 PM in Pre-closing Outlook-2 on 12-09-2014:-

selling at higher levels also can not be ruled out in last half hour today

Firstly sustaining beyond 8052 should be watched in next week for:-

1- Much deeper correction below 8052 or
2- First indication of on going correction completion will be understood after sustaining above 6052 because multiple resistances(8114/8127/8170) developed in last 9 sessions and complete follow up consolidation is must for any up move above life time high.

Let market prepare for decisive moves between 8052-8180 the will be updated according to intraday charts patterns formation of next coming week

Pre-closing Outlook-2(12-09-2014)

Although Nifty moved up forcefully above 8102 and new high formation at 8111 also but we were cautious because selling between 8087-8102 today and higher levels selling in previous sessions also therefore we told following line in previous Outlook:-

sustaining above 8102/8127/8170 is must in next week

Nifty slipped below 8102 today and selling at higher levels also can not be ruled out in last half hour today. Until Nifty will not sustain above 8102/8127/8170 till then next up move will not be considered and firstly sustaining beyond 8052-8102 should be watched in next week for next trend confirmation.

Pre-closing Outlook(12-09-2014)

Nifty moved up forcefully above 8102 and it is strong indication of correction completion. As higher levels selling today therefore sustaining above 8102/8127/8170 is must in next week for fresh strong rally after new life time high formations.