Still Decisive Up Moves Expectations

Intra Day Chart Analysis & Market Outlook

(15-03-2016)

Nifty-Intra Day Chart (14-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Whole day actual trading between 7516-7583

Conclusions from intra day chart analysis 

Following resistances of Nifty were updated yesterday in "Finally Up moves after volatile trading within Crucial Levels":-

1- 7500-7543
2- 7556-7600(strong resistances)

As all the Global markets were blasting therefore strong opening of Indian markets but could not sustain at higher levels because:-

1- Strong resistances were told between 7556-7600 and Nifty retraced after intraday highest formation within this range at 7583.70
2- Selling was seen between 7405-7545 in last 6 sessions and follow up selling developed last Friday also therefore Nifty could not sustain above it because complete consolidation was required for decisive up moves above last 6 sessions highest(7545)

Although whole day continuous down moves but in Bullish Falling Channels therefore consolidation process continuation will be understood. If it remains continued in the coming sessions then decisive up moves will be seen above 7600 after FOMC announcements on 16th March Mid night.

Detailed analysis have already been updated in both previous Outlooks and still same view of decisive up moves expectations above 7600 despite today closing near the lower levels of the day.

Mid-session Outlook(14-03-2016)

Although US markets and all the European markets blasted last Friday but we were cautious and not as such Bullish therefore told following lines yesterday in "Finally Up moves after volatile trading within Crucial Levels":-

1- 6 Sessions actual trading between 7405-7545 
2- selling was also seen between 7405-7545 in last 6 sessions therefore Indian markets may be highly volatile in the beginning of next week.
3- selling was seen last Friday also therefore some down moves are expected between last 6 sessions range

All the Asian markets were also blasting today morning and Nifty also moved up 73 points in first 15 minutes but could not sustain at higher levels and slipped below 7545 at 7526 after loosing 57 points from higher levels because Last Friday Selling and last 6 sessions selling as well.

volatility in the beginning of this week was also told which was seen in first 3 hours today. Although Nifty is now trading after loosing 57 points from higher levels but expected that Nifty will trade and prepare between 7405-7600 for post FOMC decisive big moves. Although more than 57 points slipping from higher levels today but still same finally Up moves view which was updated yesterday in previous Outlook.

Finally Up moves after volatile trading within Crucial Levels

Technical Analysis,Research & Weekly Outlook

(Mar 14 to Mar 18,2016)

Waves Structure of Post Budget-2015 Correction

Nifty-EOD Chart (11-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
2- Wave-1 of Wave-A(8269.15 on 27-03-2015)
3- Wave-2 of Wave-A(8844.40 on 15-04-2015)
4- Wave-3 of Wave-A(7997.15 on 07-05-2015)
5- Wave-4 of Wave-A(8489.55 on 22-05-2015)
6- Wave-5 of corrective Wave-A completion(7940.30 on 12-06-2015) and Wave-B beginning
7- Wave-B completion and corrective Wave-C beginning(8654.75 on 23-07-2015)
8- Wave-1 of Wave-C(7539.50 on 08-09-2015)
9- Wave-2 of Wave-C(8336.30 on 26-10-2015)
10- Recent bottom of Wave-3 of Wave-C formation at 6825.80 on 29-02-2016 and Pull Back Rally beginning
11- Recent top of Pull Back rally formations at 7547.10 on 10-03-2016
12- Long Term Trend decider 200 Day EMA is today at 7794

Waves Structure of Post Budget-2016 Pull Back Rally

Nifty-EOD Chart (11-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Pull Back rally beginning after getting supports at 6825.80 on 29-02-2016
2- Recent top of Pull Back rally formations at 7547.10 on 10-03-2016
3- 6 Sessions sideways trading between 7406-7547

Previous 6 Sessions intraday charts analysis

Nifty-Intra Day Chart (Mar 03 to Mar 11,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 6 Sessions intraday charts

1- 6 Sessions actual trading between 7405-7545 
2- Both buying and selling patterns formations in last 6 sessions.

Intra Day Chart Analysis(11-03-2016)

Nifty-Intra Day Chart (11-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 7527-7543
2- Selling between 7505-7524
3- Whole day actual trading between 7460-7543

Conclusions (After Putting All Studies Together)

Live Proofs of Levels Accuracy

Although strong rally begun after Budget but we were not as such Bullish for this week therefore posted following weekly analysis topic at 06:17 PM on 04-03-2016:-

Firstly Watch 7444-7512 for Next Decisive Moves in Next Week

Nifty traded most time within mentioned 68 points range(7444-7512) and closed also between this range at 7510.20 with whole previous week trading between 7424-7546.

Trends of Nifty are as follows:-

1- Short Term Trend has turned up after post budget Rally
2- Intermediate Term Trend is down which will be up above 7600 
3- Long Term Trend is down which will be up after moving above its decider 200 Day EMA(today at 7794)

The correction which started from 9119.20 on 04-03-2015 got last support at 6825.80 on 29-02-2016 and Pull Back Rally begun which is in continuation and no confirmation of its completion yet. Last 6 Sessions sideways trading between 7406-7547 with both buying and selling patterns formations within that range. 

Next supports of Nifty are as follows:-

1- 7405-7466
2- 7310-7360

Next resistances of Nifty are as follows:-

1- 7500-7543
2- 7556-7600(strong resistances)

As US and European markets closed strong with 1.28% to 3.27% gains last Friday and FOMC meeting on 15th and 16th March as well as selling was also seen between 7405-7545 in last 6 sessions therefore Indian markets may be highly volatile in the beginning of next week. As selling was seen last Friday also therefore some down moves are expected between last 6 sessions range but finally next trend will get confirmation from following crucial levels:-

1- 7405-7543(First indication)
2- 7310-7600(Final confirmation)

Although valid break out of above crucial levels should be firstly watched in next week but expected that in every situation(best to worst) Nifty will firstly trade between or near about 7310-7600 with high volatility and finally will move above 7600 decisively without sustaining below 7310. 

Pre-closing Outlook(11-03-2016)

Following Bullish moves at this moment:-

1- Nifty is now 22 points up
2- Sensex is now 103 points up
3- Dow's Futures is now 155 points up
4- All the European markets are also trading with 1.4% to 2.5% gains

Although above Bullishness but today intraday charts are showing selling signals therefore down moves are expected in the beginning of next week. As most uncertain Global markets therefore same following cautious view which has already been updated in previous 2 Outlooks at 08:57 AM and 01:57 PM today.

Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves. 

Mid-session Outlook(11-03-2016)

As lower levels supports and some consolidation in last hours yesterday therefore Post Budget Rally continuation above yesterday highest(7547.10) was told yesterday in "Post Budget Rally continuation after follow up consolidation" and it was seen also with 56 points rally up to 7543.95 in first hour today.

As ECB news led European markets huge down moves and high volatility in US markets as well as Next resistances between 7500-7530 therefore following line was told today at 08:57 AM in "Sideways market for FOMC big Moves" and must be kept in mind:- 

Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves. 

Although Nifty is now trading at 7512 after gaining 25 points but still we are saying for confirmations though above given levels.

Sideways market for FOMC big Moves

Pre-open Outlook(11-03-2016)

As ECB unexpectedly cut the bank’s key lending rate therefore deep Red closing of all European markets and flat closing of US markets amid high intraday volatility yesterday resultant most Asian markets are trading flat at this moment today. As FOMC meeting on 14 and 15 March therefore expected that all the Global markets including Indian markets will prepare for post FOMC meet decisive moves on 16th March.

Next supports of Nifty are as follows:-

1- 7430-7466
2- 7310-7360

Next resistances of Nifty are as follows:-

1- 7500-7530
2- 7556-7600

As huge fall in European markets and high volatility in US markets yesterday after ECB announcements therefore expected that Global markets will be cautious before FOMC and Nifty will also firstly remain sideways between 7430-7530 as well as prepare for post FOMC decisive big moves. Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves.

Post Budget Rally continuation after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(11-03-2016)

Nifty-Intra Day Chart (10-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 7500-7530
2- Support between 7448-7466
3- Consolidation between 7477-7505
4- Whole day actual trading between 7448-7530

Conclusions from intra day chart analysis 

Following line was told yesterday in "Post Budget Rally Continuation after Minor Correction"

firstly minor 1/2 sessions correction may be seen 

Following lines were told at 11:04 AM today in "Post-open Outlook(10-03-2016)":-

Next supports are between 7430-7446

Firstly minor correction was told yesterday and it was seen through through whole day day negative zone trading and 45.65 points down closing today. Next supports are between 7430-7446 was told at 11:04 AM today and Nifty could not slip below it and today lowest remained just above it at 7447.40.

As lower levels supports and some consolidation in last hours today therefore expected that Post Budget Rally will remain continued above today highest(7547.10) but some follow up consolidation is also required within or near about 7500-7530 because some selling was seen between this range in first hour today.

Post-open Outlook(10-03-2016)

Following line was told yesterday in "Post Budget Rally Continuation after Minor Correction"

firstly minor 1/2 sessions correction may be seen 

Firstly minor correction was told and it started within first 15 seconds after gap up opening today and now in continuation. 

Next supports are between 7430-7446 and firstly sustaining it beyond should be watched for today started correction completion,let it complete first then fresh buying should be initiated.

Post Budget Rally Continuation after Minor Correction 

Intra Day Chart Analysis & Market Outlook

(10-03-2016)

Nifty-Intra Day Chart (09-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day up moves with intraday corrections
2- Whole day actual trading between 7425-7539

Conclusions from intra day chart analysis 

Following lines were told at 01:19 PM on 04-03-2016 in "Firstly Watch Retracement Levels after today started Very Short Term Correction beginning":-

1- only very Short Term correction beginning will be considered
2- Bull markets does not give much deeper correction 
3- first 4 fours today intraday charts are showing some selling patterns therefore correction continuation is expected towards above levels.

As was told 100% same happened and Nifty corrected towards 13.0% retracement level(7416) as well as formed today lowest just above it at 7424.30 after loosing 61 points. We clearly told that Bull markets does not give much deeper correction and it was also seen today through more than 100 points recovery after very Short Term correction completion today.

As whole day up moves with intraday corrections and as such intraday selling patterns were not seen today therefore Budget day started rally continuation is expected after very Short Term correction completion today but firstly minor 1/2 sessions correction may be seen because Short Term Oscillators have turned overbought after strong rally today. 

Next resistances are between 7556-7600 which are sufficiently strong also and once sustaining above 7600 will mean Nifty will positively test Long Term Trend decider 200 Day EMA(today at 7800). Once confirmation of sustaining above it will mean strong possibility of worst is over. 

7443-7527 Will decide Next More than 2% One Sided Moves

Intra Day Chart Analysis & Market Outlook

(09-03-2016)

Nifty-Intra Day Chart (08-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Minor selling between 7443-7456
2- Minor support between 7506-7527
3- Whole day actual trading between 7443-7527

Conclusions from intra day chart analysis 

Following conclusive lines were told in previous 3 Outlooks on 04-03-2016:-

1- Selling between 7470-7488
2- very Short Term correction possibility towards post Budget rally retracement levels
3- Nifty will firstly trade and prepare for next decisive moves within or near about 7444-7512 in the beginning of next week.

As was told 100% same happened in following manner today:-

1- Nifty could not sustain at higher levels because selling was seen between 7470-7488 on 04-03-2016 and very Short Term 84 points correction from higher levels was seen today. 
2- Trading within or near about 7444-7512 was told and Nifty traded within or near about this range between 7442.15-7527.15 as well as closed also within this range at 7481.35 today.

Following resistances were updated at 12:2300 AM on 03-03-2016 in"Pull Back Rally continuation Expectations " 

1- 7480-7512
2- 7556-7600 

Nifty hovered around 1st resistance range in last 2 sessions with trading between 7443-7527 and valid break out of today trading range will generate more than 2% one sided moves because that will confirm the strength of resistance range.

As both higher levels minor selling and lower levels minor supports as well as Doji(indecision) Candle formations today therefore today trading will be again understood with Mixed Patterns formations between 7443-7527 and Nifty has to prepare for next decisive moves within and near about this range. 

Let Nifty prepare for next decisive moves between 7443-7527 then will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years because our policy is "No gossiping never guessing and whatsoever market suggest,only that is always updated".

Firstly Watch 7444-7512 for Next Decisive Moves in Next Week

Technical Analysis,Research & Weekly Outlook

(Mar 08 to Mar 11,2016)

Nifty-Intra Day Chart (04-03-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling range 7470-7488 
2- High volatility in last hours
3- Whole day actual trading between 7444-7505

Conclusions from intra day chart analysis 

As next resistances above today highest were between 7480-7512 and some selling was seen just below and within this range today therefore Nifty could not move above 7512 and also closed within today selling range(7470-7488) at 7485.35 today. As some selling patterns today therefore on this base only very Short Term correction beginning will be considered because any big down moves can not be seen after such one day minor selling.

As high intraday volatility was also seen in last hours today and technical positions reverses during such volatility as well as only minor selling was seen today therefore it will be safer to get confirmation through valid break out of Crucial Levels because finally today intraday trading will be understood with Mixed Patterns formations not one sided.

Resistance between 7480-7512 have been updated 4 times after 23-06-2016 and Nifty traded as well as closed between this range after some follow up selling within and below this range today. As high volatility was also seen above today lowest(7444) which may have changed intraday technical positions therefore if there will not be any big news or any big Global markets moves next Monday then Nifty will firstly trade and prepare for next decisive moves within or near about 7444-7512 in the beginning of next week as well as valid break out of this range will decide following next decisive moves:-

1- Above 7512 will mean post Budget Pull Back Rally continuation towards next resistances(7556-7600). 
2- Below 7444 will mean very Short Term correction of post Budget rally beginning towards following retracement levels:-

Retracement Levels of Post Budget Pull Back Rally

Nifty-EOD Chart (04-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 13.0%-7416
2- 23.6%-7344
3- 27.0%-7321
4- 38.2%-7245(Crucial)
5- 50.0%-7165(Crucial)
6- 61.8%-7085(Crucial)
7- 70.7%-7024
8- 76.4%-6986
9- 78.6%-6971 
10-88.6%-6903

Pre-closing Outlook(29-02-2016)

It should be kept in mind that only very Short Term correction towards retracement levels is being considered at this moment after Post Budget strong rally because some selling was seen 7470-7488 today. As some recovery from lower levels therefore firstly valid break out of 7444-7512 should be firstly watched for next immediate move confirmations because some times Bull Market consolidate at higher levels amid high intraday volatility without giving deeper correction.

Although Nifty is now trading below today selling range(7470-7488) at 7467 but 7444-7512 should be firstly watched for confirmations.

Firstly Watch Retracement Levels after today started Very Short Term Correction beginning

Mid-session Outlook(04-03-2016)

Following resistances were updated at 12:2300 AM on 03-03-2016 in"Pull Back Rally continuation Expectations " 

1- 7480-7512
2- 7556-7600 

Nifty faced resistance exactly within 1st resistance range today and retraced to 7444.10 after intraday highest formation within this range at 7505.80. At this moment only very Short Term correction beginning will be considered after post Budget strong rally and following retracement levels will be firstly watched for today started correction completion:-  


1- 13.0%-7,416
2- 23.6%-7,344
3- 27.0%-7,321
4- 38.2%-7,245(Crucial)
5- 50.0%-7,165(Crucial)
6- 61.8%-7,085(Crucial)
7- 70.7%-7,024
8- 76.4%-6,986
9- 78.6%-6,971 
10-88.6%-6,903

It must be kept in mind that usually Bull markets does not give much deeper correction therefore whenever consolidation develops near about above levels then today started correction completion will be considered at that point. As first 4 fours today intraday charts are showing some selling patterns therefore correction continuation is expected towards above levels.

As busy in a marriage therefore Stock Market Outlook of today is not being updated but Mid-session Outlook may be posted during trading hours.

Pull Back Rally continuation Expectations 

Intra Day Chart Analysis & Market Outlook

(03-03-2016)

Nifty-Intra Day Chart (02-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 7309-7326(Immediate Supports)
2- More than 5 hours Mixed Patterns between 7340-7380
3- Up moves in Bearish Rising Channel
4- Down moves in Bullish Falling Channel
5- Whole day actual trading between 7309-7380

Conclusions from intra day chart analysis 

Surprised to see all around that most were Bearish for Budget and many have been trapped in short positions but those who are following us very well know that we posted following last Bearish topic on 22-02-2016:-

High Possibility of Slipping below Today Lowest(7201)

We told only and only up moves in all the following previous 5 topics from 25-02-2018:-

1- Posted at 02:12 AM on 01-03-2016- Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20
2- Posted on 29-02-2016- Finally up moves above today highest(7094.60)
3- Posted at 12:16 PM on 29-02-2016-  Mid-session Outlook(29-02-2016)
4- Posted at 01:08 AM on 29-02-2016- Short Term up moves Expectations with confirmation through 6869-7252
5- Posted on 25-02-2016-Pull Back Rally Expectations amid High Volatility

As was projected in above 5 topics 100% same happened after post Budget Bull Rally.

More than 100 points gap up opening and after that lower levels some supports but last more than 5 hours trading with  Mixed Patterns between 7340-7380 therefore expected that Nifty will firstly trade and prepare for next decisive moves within or near about this range.

Nifty traded 15 previous sessions between 6869-7252 and this range was forcefully broken out today which is first strong signal of its broken out validity and once confirmation of sustaining above 7252 will mean more decisive up moves after Intermediate Term Trend turning up confirmations as well as strong indication of that big correction completion at 6825.80 on 29-02-2016 which started at 9119.20 on 04-03-2015.

As very short Term Indicators have turned over bought therefore some intraday correction led volatility may be seen but until Nifty will not sustain below today lowest after 1/2 sessions complete selling till then any decisive down moves will not be considered. Expected that finally Budget day started Pull Back Rally will remain continued towards following next resistances after 1/2 sessions follow up consolidation within or near about 7340-7380:-

1- 7480-7512
2- 7556-7600 

Who told for Post Budget 
Bullish Indian Markets in whole India 
Except us

Archive(More than 7000 Topics) at the left bottom of this Blog is life proof of such accurate predictions of Indian Stock Markets for the last 5 years. Anyone can verify this fact any time from EOD and intraday charts of last 5 years

Indian Stock Market Outlook
(02-03-2016)

Whatsoever Bullish moves will be seen in Indian markets today all that have already been projected in last 1 week therefore just click following topic links and understand today market. When most of the experts were Bearish in all the Business News Channels and Websites then only we told for Post Budget Bullish moves which started after Budget from yesterday and will be seen today. 

Just go through previous topics on Home page or click following topic links which will make clear that those Bullish moves which were projected have been proved 100% accurate during and after Union Budget:-

1- Posted at 02:12 AM on 01-03-2016- Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20
2- Posted on 29-02-2016- Finally up moves above today highest(7094.60)
3- Posted at 12:16 PM on 29-02-2016-  Mid-session Outlook(29-02-2016)
4- Posted at 01:08 AM on 29-02-2016- Short Term up moves Expectations with confirmation through 6869-7252
5- Posted on 25-02-2016-Pull Back Rally Expectations amid High Volatility
6- Posted on 24-02-2016-Firstly Watch valid 6965-7090
7- Posted on 23-02-2016-Sideways market within Crucial levels for Post Budget Big Moves Preparations

Live Proofs of Today market 100% Accurate Predictions

Although FIIs were net sellers by 2018.02 Cr yesterday and Nifty closed in Red after last 1 year lowest formations but we told following line yesterday in "Finally up moves above today highest(7094.60)":-

finally up moves are expected above today highest(7094.60) 

As was told yesterday 100% same happened today and Nifty crossed 7094.60 within first 15 minutes after gaining more than 60 points in first 1 minute and now trading at 7131 after gaining 144 points

Who told with such guarantee for up moves above 7094.60 yesterday in any Website and Business News Channel in whole India Except us

Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20

Nifty-EOD Chart (29-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-3 on long Chart beginning at 4531.15 on 20-12-2011
2- Wave-3 completion and corrective Wave-4 beginning at 9119.20 on 04-03-2015 
3- Corrective Wave-4 recent bottom of correction at 6825.80 on 29-02-2016
4- 12 Months correction with Bullish Flag formations
5- Lower falling line of Bullish Flag testing on 29-02-2016 

Conclusions from EOD chart analysis 

As whole 12 months correction from 9119.20 to 6825.80 is with Bullish Flag formations and Nifty has not slipped below its lower falling line yet therefore Bullish Flag is valid till now and resultant hopes of fresh up moves above life time high(9119.20) are still alive.

On Long Charts now corrective Wave-4 is on which is correcting that impulsive wave-3 which started from 4531.15 on 20-12-2011 and completed at 9119.20 on 04-03-2015. Fibonacci Retracement levels of Wave-3(4531-9119) are as follows:-

1- 13.0%-8522
2- 23.6%-8036
3- 27.0%-7880
4- 38.2%-7366
5- 50.0%-6825(Tested on 29-02-2016 with intraday lowest formation at 6825.80)
6- 61.8%-6283
7- 70.7%-5875
8- 76.4%-5613
9- 78.6%-5512 
10-88.6%-4531 

Nifty tested today lower falling line of Bullish Flag at 6825.80 which is exactly at 50.0% Fibonacci Retracement level(6825) and all the Long Term Oscillators are oversold as well as Nifty recovered 110 points within 3 minutes which is Panic Bottom formations confirmation therefore:- 

1- Strongest indications of last 12 months Long Term correction completion today at 6825.80.
2- Very much expected that finally 6825.80 will be proved the lowest of that correction which begun at 9119.20 on 04-03-2015  
3- Finally fresh rally above 9119.20 will be seen before or immediately after Budget 2017-18 

Although tough to believe it today but just click following topic links and verify on yours own our following previous predictions also:-  

1- Posted on 06-09-2015- "Next Target of Nifty at 7104.30"
2- Posted on 13-09-2015- "Finally correction continuation towards 7104/6761"
3- Posted on 07-01-2016- "Correction Continuation towards 7104/6761"

(When we are projecting such Bullish Indian markets at that time Dow Jones is trading 110 points down and FIIs were net sellers by Rs 2018.02 cr today)

Finally up moves above today highest(7094.60)

Intra Day Chart Analysis & Market Outlook

(01-03-2016)

Nifty-Intra Day Chart (29-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- High volatility
2- Down moves in Bullish Falling Channel during last Hours between 6970-7094
3- Whole day actual trading between 6826-7094

Nifty-Intra Day Chart (Feb 24 to Feb 29,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 4 Sessions intraday charts

1- Previous 3 sessions trading between 6962-7090 
2- Today last 2 Hours Down moves in Bullish Falling Channel between 6970-7094

Conclusions from 4 Sessions intra day chart analysis 

Although high volatility today but as such selling patterns formations were not seen despite 42.70 points down closing but on the contrary Down moves in Bullish Falling Channel during last 2 Hours therefore Short Term up moves expectations are still alive. As following factors therefore some volatility between 6869-7252 may be seen in the coming sessions:-

1- Opposition parties may disrupt parliament on  privilege motion against Smriti Irani issue which will certainly hamper sentiment of Indian Stock markets.
2-  Certainly Long Term correction is very much on and no confirmation of its completion yet and higher levels multiple resistances up to 7252 therefore more consolidation is required for correction completion.

As per our view Indian markets are in consolidation phase after last 1 year correction and it will take its own complete time in the same manner as happened after 2008 correction that Nifty remained sideways for 5 months within 998 points between 2253-3241 from 27-10-2008 to 02-04-2009. 5 months trading range broken out after closing above 3241 on 02-04-2009 which made 9119.20 on 04-03-2015. 

Last 14 sessions most time trading between 6869-7252 and today closing within it after intraday lowest below it at 6826 and at present Nifty will be understood sideways within it,valid break out of this range will confirm Intermediate Term Trend. As Both lower levels supports and higher levels selling between 6869-7252 therefore market has to prepare for next decisive moves within this range.

Previous 3 sessions trading between 6962-7090 and today closing near the lower levels of this range but last 2 Hours today Down moves(6970-7094) within this range in Bullish Falling Channel which is a consolidation pattern therefore finally up moves are expected above today highest(7094.60) in the coming 2/3 sessions after some more follow up consolidation but first indication of last 1 year correction completion will be after sustaining above 7252.

Mid-session Outlook(29-02-2016)

Following lines were told at 01:08 AM today in "Short Term up moves Expectations with confirmation through 6869-7252:-

1- As Union Budget 2016/17 at 11:00 AM on 24-02-2016 and opposition attitude had been to disrupt parliament also therefore such uncertainly may result high volatility,
2- for precaution valid break out of last 13 sessions range(6869-7252) should also be watched for next Trend confirmations.

Although never happened in history on Budget day but today opposition tried to disrupt parliament immediately after opening on privilege motion against Smriti Irani. It means that Parliament may be again disturbed in the coming day like previous 2 sessions which will certainly hamper sentiment of Indian Stock markets.

As such uncertainly therefore high volatility is being seen today and for precaution valid break out of last 13 sessions range(6869-7252) should be watched for next Trend confirmations