Technical Analysis and Market Outlook(30-10-2014)

Nifty-Intra Day Chart (29-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8053-8069
2- Minor selling at higher levels in last half hour
2- Whole day actual trading between 8053-8097

Conclusions from intra day chart analysis 

Although good consolidation at lower levels and closing near the higher levels of the day but selling patterns formations were also in last half hour therefore firstly consolidation is required for fresh rally because follow resistances above today highest:-

1- 8115-8160
2- 8140-8180

As lower levels good consolidations and all trends are up therefore rally continuation is expected after follow up consolidations. 

Mid-session Outlook(29-10-2014)

1st resistances between 8080-8088 was posted yesterday in Technical Analysis and Market Outlook(29-10-2014) and Nifty retraced after making today highest at 8081.05. Although high volatility today but lower levels consolidation also seen therefore up moves are expected in the coming sessions.

Technical Analysis and Market Outlook(29-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Minor selling immediately after opening
2- Down moves are in  Bullish Falling Channel
3- Consolidation between 7996-8010 
4- Whole day actual trading between 7996-8037

Conclusions from intra day chart analysis 

Although minor selling and slipping also immediately after opening but in  Bullish Falling Channel which is a consolidation pattern. As lower levels supports with follow up Down moves in  Bullish Falling Channel again seen therefore emergence of up moves expectations.

Following lines were told in Technical Analysis and Market Outlook(21-10-2014):-

As following resistances are also lying at higher levels therefore follow up consolidation is must for rally continuation:-

1- 7900-7937 
2- 7955-7972 
3- 8012-8030

Last resistance range is 8012-8030 and last 2 sessions most time actual trading between 7985-8038 as well as consolidation seen between resistance range therefore strong indications of above mentioned resistances clearance and rally continuation. 

Last resistances of Nifty are as follows:-

1- 8080-8088
2- 8115-8160
3- 8140-8180

Expected that Nifty will counter above resistances in the coming sessions and finally rally above all time high will be seen.

Mid-session Outlook-2(28-10-2014)

Although now trading near the lowest of today after higher levels selling but last 1 hour down moves are in  Bullish Falling Channel which is a consolidation pattern therefore today patterns are mixed. As sustaining beyond yesterday actual trading range(7985-8038) will be next decisive moves confirmation therefore should be firstly watched otherwise we are expecting finally rally in the coming sessions but after follow up consolidations.

Mid-session Outlook(28-10-2014)

Although positive zone trading since opening today but minor selling patterns were also seen between 8015-8020 therefore view is cautious and sustaining above 8020 should be firstly watched now for 1st indication of next up moves.

Technical Analysis and Market Outlook(28-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 7985-8038

Conclusions from intra day chart analysis 

Although slipping from higher levels and closing near the lowest of the day but Bullish Falling Channel formations seen which is a consolidation pattern therefore finally rally continuation is expected in  the coming sessions

Mid-session Outlook(27-10-2014)

Although slipping from higher levels but Bullish Falling Channel formations also seen therefore rally continuation expectations are alive.

Technical Analysis and Market Outlook(27-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7976-7988 
2- Up moves with intraday corrections
3- Whole day actual trading between 7976-8005

Conclusions from intra day chart analysis 

As lower levels consolidation and Up moves with intraday corrections also therefore emergence of rally continuation expectations in the coming sessions.

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 8009-8031

Conclusions from intra day chart analysis

Although most time slipping after gap up opening but in Bullish Falling Channel therefore rally continuation in the coming sessions.

Conclusions (After Putting All Indicators Together)

All trends are up and correction continuation for the last 28 sessions but with Bullish Flag formations on EOD charts therefore rally continuation is expected after correction completion. Last 17 sessions sideways trading between 7724-8030 with with higher levels resistances and once sustaining above 8030 will mean strong indication of fresh rally after correction completion.

Finally rally continuation is expected above 8030 in next week

Technical Analysis and Market Outlook(22-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7875-7900
2- Consolidation between 7906-7919
3- Whole day actual trading between 7875-7936

Conclusions from intra day chart analysis 

As lower levels good consolidations yesterday and today all the Global markets re blasting therefore rally continuation after gap up opening today but when Indian markets were crashing in previous week then we told again and again for confirmation requirement of deeper correction and told following lines on 19-10-2014 in Technical Analysis and Market Outlook(20-10-2014):-

As Bullish Flag formation seen in last 25 sessions correction therefore deeper correction is not expected and once confirmation of sustaining above 7796/7724 will be a strong indication of fresh strong rally above all time high. 

Technical Analysis and Market Outlook(21-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7894-7905
2- Down moves in Bullish Falling Channel 
3- Whole day actual trading between 7857-7905

Conclusions from intra day chart analysis

Although sharp down moves in previous week and crucial supports were also broken down but we told again and again for the requirement of broken down confirmation in all the Outlooks of previous week. As consolidation patterns were seen last Friday therefore strong rally  possibility was also told yesterday and Nifty closed 1.28% up today. 

Although firstly selling after huge gap up opening today but down moves in Bullish Falling Channel formation also seen therefore today started rally continuation hopes are alive because following multiple Supports below today lowest:-

1- 7816-7846
2- 7796-7827
3- 7724-7764

As following resistances are also lying at higher levels therefore follow up consolidation is must for rally continuation:-

1- 7900-7937 
2- 7955-7972 
3- 8012-8030

Last 14 sessions sideways trading between 7724-8030 with above above supports/resistances therefore Nifty will trade and prepare for next decisive moves within this range in the coming sessions. Sustaining below 7724 will be deeper correction confirmation and sustaining above 8030 will be strong indication of fresh rally after correction completion.

As Bullish Flag formation in last 26 sessions correction on EOD charts and lower levels supports were also seen in previous sessions therefore deeper correction is not expected and strong indication of fresh strong rally above all time high after consolidation/supports confirmations above 7724. 

As busy therefore Mid-session Outlooks are not being updated today.

Technical Analysis and Market Outlook(20-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 7724-7819

Conclusions from intra day chart analysis

Although recovery from lower levels after consolidation patterns formations but selling patterns also seen at higher levels therefore mixed patterns formations and follow up trading positions will decide next decisive moves and should be firstly watched in next week for next decisive moves.

13 Sessions range(7796-8030) broken down forcefully on 16-10-2014 but sustaining below 7796 is must for deeper correction confirmation towards 200 Day EMA(today at 7253) but consolidation seen above 7724 therefore sustaining below 7796/7724 should be firstly watched in next week for deeper correction confirmation or its completion.

As Bullish Flag formation seen in last 25 sessions correction therefore deeper correction is not expected and once confirmation of sustaining above 7796/7724 will be a strong indication of fresh strong rally above all time high. 

Pre-closing Outlook(17-10-2014)

Although 13 Sessions range(7796-8030) broken down forcefully yesterday but confirmation was required through sustaining below 7796 therefore its requirement was updated in previous Outlook yesterday. Nifty traded most time below 7796 and consolidated at lower levels today as well as moved above 7796. Correction continuation and till now no confirmation of its completion. Deeper correction possibility is still alive through sustaining below 7796/7724(today lowest) and sustaining beyond these 2 levels should be firstly watched in next week for deeper correction confirmation or its completion..

Technical Analysis and Market Outlook(17-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7827-7893
2- Sharp down in last hour
3- Whole day actual trading between 7730-7893-

Conclusions from intra day chart analysis 

Firstly more than 5 hours selling and after last 13 sessions range(7796-8030) broken down forcefully as well as given strong signal of deeper correction towards 200 Day EMA(today at 7248). As today last hour sharp down moves were the impact of deep Red European markets and more than 90 points down Dow's Futures therefore breaking down confirmation of 7796 is still left through sustaining below it.

Correction is on and deeper correction confirmation is still left through sustaining below 7796 and it should be firstly watched tomorrow.

Mid-session Outlook(16-10-2014)

Although huge fall in Global markets but Indian markets out performed therefore firstly some up moves with positive zone trading seen immediately after opening. As some selling was also seen therefore Nifty could not sustain and slipped into negative zone but lower levels minor support also seen above 7818 today. Following conclusive lines have been posted in previous Outlooks and being repeated:- 

sideways trading between 7796-8030 and Nifty will prepare for next trend within and near about this range in the coming sessions and valid break out of this range will decide next big moves confirmation.

Post-open Outlook(16-10-2014)

Although huge fall in Global markets but Indian markets out performed and Nifty is now trading only 20 points down therefore it is a positive indication and firstly sustaining beyond 7796 should be watched today for next big moves confirmations.

Pre-open Outlook(16-10-2014)

All the Asian markets are in deep Red after huge fall in US and European markets yesterday therefore Indian markets will react it through gap down opening today. Short Term Correction continuation and sideways trading between 7796-8030 from last 12 Sessions and sustaining below 7796 should be firstly watched today for next big moves confirmations.

Technical Analysis and Market Outlook(16-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7826-7856
2- Up moves in Broadening pattern with intraday correction 
3- Whole day actual trading between 7826-7928

Conclusions from intra day chart analysis 

Short Term Correction continuation from 08-09-2014 with last 12 Sessions sideways trading between 7796-8030. As lower levels good supports and higher levels good selling also therefore expected that Nifty will trade and prepare for next trend within and near about this range in the coming sessions and valid break out of this range will decide next big moves

As up moves in Broadening pattern with intraday correction after lower levels consolidation on 14-10-2014 therefore emergence of up moves indications towards 8030 in the coming sessions. 

Pre-closing Outlook(14-10-2014)

As follow op consolidation today and lower levels supports yesterday therefore emergence of up moves indications up to 8030 in the coming sessions.

Mid-session Outlook(14-10-2014)

Following lines were told yesterday in Technical Analysis,Research & Weekly Outlook(Oct 13 to Oct 17,2014) 

Nifty will prepare for next big moves within and near about this range for next decisive moves and sustaining beyond last 10 Sessions trading range(7818-8030) should be firstly watched in the coming week 

As most depressing Global markets yesterday therefore Nifty slipped below 7818 but could not sustain and recovered and today trading within last 10 Sessions trading range. Markets start decisive moves after complete technical positions formation and till then remain sideways as well as prepare for next trend. Finally sustaing beyond last 11 Sessions trading range(7796-8030) will be next big trend confirmation/strong indication and should be watched now.

Let market prepare then will be updated from intraday charts analysis in the same manner as being done for the last more than 4 years.