Rally Continuation amid US Markets weakness led High Volatility 

Intra Day Chart Analysis & Market Outlook

(13-01-2017)

Nifty-Intra Day Chart (12-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8383-8398
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 8383-8417

Conclusions from intra day chart analysis 

As whole good inraday consolidation therefore rally continuation is expected but high volatility can not be ruled out tomorrow because US markets are in crashing like situation and Dow Jones slipped more than 160 points within first hour of today trading due to President Donald Trump led negative news.

Although some down moves can not be ruled out amid US markets led weakness but expected that finally Nifty will move up after fresh consolidation between 8323-8417.

Rally continuation after very Short Term Correction completion

Intra Day Chart Analysis & Market Outlook

(12-01-2017)

Nifty-Intra Day Chart (11-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8332-8346
2- Up moves in Bearish Rising Channel between 8364-8389
3- Whole day actual trading between 8323-8389

Conclusions from intra day chart analysis 

Firstly up moves after gap up opening and after that consolidation also but Up moves in Bearish Rising Channel between 8364-8389 last 2 hours therefore follow up consolidation is firstly required for decisive up moves above 8400. 

Expected that Nifty will firstly trade and prepare for next decisive moves  within and near about 8364-8389 but high possibility of rally continuation above 8400 after very Short Term correction completion within today trading range(8323-8389)

Rally Continuation

Intra Day Chart Analysis & Market Outlook

(11-01-2017)

Nifty-Intra Day Chart (10-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8261-8271
2- Consolidation between 8272-8282
3- Whole day actual trading between 8261-8293

Conclusions from intra day chart analysis 

Following conclusive lines were told yesterday in "Finally Rally after Follow up Consolidation":-

1- Although today closing with minor losses but whole day consolidation was seen through Down moves in Bullish Falling Channels therefore it seems that Indian markets are in consolidation phase because good consolidation was seen last Friday also.

2- As consolidation is on therefore expected that finally rally will be seen above the top(8306) of on going rally after follow up consolidation in the coming 2/3 sessions.

As follow up consolidation was seen today and  Indian markets are in consolidation phase therefore same Bullish view which has already been updated as above yesterday.

Finally Rally after Follow up Consolidation

Intra Day Chart Analysis & Market Outlook

(10-01-2017)

Nifty-Intra Day Chart (09-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Whole day Down moves in Bullish Falling Channels
2- Whole day actual trading between 8228-8263

Conclusions from intra day chart analysis 

Although today closing with minor losses but whole day consolidation was seen through Down moves in Bullish Falling Channels therefore it seems that Indian markets are in consolidation phase because good consolidation was seen last Friday also.

As consolidation is on therefore expected that finally rally will be seen above the top(8306) of on going rally after follow up consolidation in the coming 2/3 sessions.

8306 Will mean Fresh Strong Rally

Intra Day Chart Analysis & Market Outlook.

(09-01-2017)

Nifty-Intra Day Chart (06-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Minor selling between 8296-8306
2- Down moves in Bullish Falling Channels
3- Mixed Patterns between 8261-6280 
4- Whole day actual trading between 8234-8306

Conclusions from intra day chart analysis 

Although 30 points negative closing near the lower levels of the day but huge selling was not seen and good consolidation was also seen through down moves in Bullish Falling Channels at higher levels and lower levels of the day therefore view will not be Bearish and some up moves are expected in the beginning of next week.

As minor selling at the higher levels of the day and Mixed Patterns formations also therefore follow up consolidation is firstly required for decisive up moves in next week. Once sustaining above 8306 after follow up consolidation will mean fresh strong rally beginning after long Term Trend turning up confirmation through valid break out of its decider 200 Day SMA(today at 8279)

As busy therefore Stock Market Outlook of today is not being updated.

Only 8275 will confirm next big Trend 

Mid-session Outlook(05-01-2017)

Although flat closing yesterday near the lower levels of the day but whole day consolidation patterns formations were seen therefore fresh up moves expectations were projected at 05:50 PM yesterday and that is being seen since gap up opening today. 

Certainly strong up moves today but immediate resistances are just above today highest(8251.85) between 8250-8275 which are technically not much strong but most crucial because that will decide waves structure of on going that correction which started on 07-09-2016 from 8968.70 therefore only 8275 should be watched for the confirmation of next big trend.  

Last 4 sessions Sideways Market require confirmations from Valid Break out

Intra Day Chart Analysis & Market Outlook

(05-01-2017)

Nifty-Intra Day Chart (04-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Whole day all the Down moves in Bullish Falling Channels
2- Whole day actual trading between 8181-8218

Conclusions from intra day chart analysis 

Although flat closing near the lower levels of the day after slipping from higher levels but whole day all the Down moves in Bullish Falling Channels which are consolidation patterns therefore emergence of fresh up moves expectations today.

Last 4 sessions sideways trading between 8134-8218 with selling patterns formations in previous 3 sessions and good consolidation today therefore mixed patterns formations will be understood and Nifty has to prepare for next decisive moves within and near about this range.

Let Nifty prepare for next trend beyond this range then will be updated according to intraday charts patterns formations and till then valid break of last 4 sessions trading range should be watched for next decisive moves confirmations.

Just Watch 8134-8219 amid Down Moves View

Intra Day Chart Analysis & Market Outlook

(04-01-2017)

Nifty-Intra Day Chart (03-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Slipping 47 points immediately after opening
2- Minor consolidation between 8149-8163
3- Up moves in Bearish Rising Channel
4- Selling patterns formation between 8204-8219 
5- Whole day actual trading between 8149-8219

Conclusions from intra day chart analysis 

Although all the Asian markets were trading positive but Nifty slipped 47 points immediately after Green opening and minor consolidation at lower levels of the day therefore recovery was seen. As up moves in Bearish Rising Channel and higher levels selling patterns formations also therefore view will not bullish.

As selling patterns formations are being seen in last 3 sessions therefore it seems that Indian markets are under selling process and expected that finally decisive down moves will be seen below 8100 after follow up selling in the next 1/2 sessions. 

As Dow Jones is trading more than 160 points up and if closes with such good gains today then sentiment may remain Bullish tomorrow morning and Indian markets may also remain positive if most Asian markets remains strong. Higher levels selling patterns formation between 8204-8219 and until Nifty will not sustain above 8219 after follow up consolidation till then decisive up moves will not be seen and once fresh selling will mean strong possibility of decisive down moves beginning.

Although down moves are expected but for confirmation valid break out of 8134-8219 should also be watched for next trend confirmation.

Firstly Watch Levels amid some down moves expectations   

Intra Day Chart Analysis & Market Outlook

(03-01-2017)

Nifty-Intra Day Chart (02-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8134-8155
1- 2 Hours up moves in Bearish Rising Channel
3- Whole day actual trading between 8134-8212

Conclusions from intra day chart analysis

Following lines were told yesterday in "Very Short Correction Expectations":- 

very short correction is firstly expected in the beginning of next week

very short correction was told yesterday and most of the time negative zone trading and Red closing today.

Although firstly some consolidation at lower levels of the day but after that 2 hours up moves in Bearish Rising Channel also therefore today intraday trading patterns will be understood Mixed and firstly Nifty has to prepare for next decisive moves within and near about today trading range.

Although today closing near the higher levels of the day but sufficient selling patterns were also seen between 8134-8212 in last 2 sessions therefore view is not be Bullish and down moves are expected below 8134. 

As valid break break out of 8134-8212 will be next decisive moves confirmation therefore should be firstly watched amid some down moves expectations.  

Very Short Correction Expectations

Intra Day Chart Analysis & Market Outlook

(02-01-2017)

Nifty-Intra Day Chart (30-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- Fast up moves immediately after opening
2- More than 5 hours up moves in Bearish Rising Channel
3- Whole day actual trading between 8115-8197

Conclusions from intra day chart analysis 

Although whole day up moves after positive opening and after that whole day up moves also but in Bearish Rising Channel therefore very short correction is firstly expected in the beginning of next week.

Pull Back Rally continuation towards next Resistances

Intra Day Chart Analysis & Market Outlook

(30-12-2016)

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

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours consolidation between 8036-8059
2- Last hours up moves with follow up consolidations
3- Whole day actual trading between 8021-8111

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Sideways Market for Next Trend Preparations":-

As Indian Mutual Funds requires to maintain NAV therefore strong rally was seen yesterday after their huge buying and they will support market till 30 Dec and till then decisive down moves are not expected. 

As whole day only consolidation patterns formations and selling was not seen therefore on going rally continuation is expected in the coming sessions. Next resistances above today highest are as follows:-

1- 8137-8159
2- 8165-8200
3- 8168-8224
4- 8250-8275

Long Term Trend decider 200 Day SMA is today at 8258 which is within above mentioned resistances therefore until Nifty will not sustain above 8275 till then only Pull Back Rally continuation will be understood and Nifty will be considered sideways within lower levels supports and higher levels resistances(7894-8275). 

Pull Back Rally is on and its continuation is expected towards above mentioned resistances but Nifty will firstly trade and prepare for next decisive moves between 7942-8159 and finally valid break out of this range will give next trend first indication. 

Sideways Market for Next Trend Preparations

Intra Day Chart Analysis & Market Outlook

(29-12-2016)

Nifty-Intra Day Chart (28-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- Intraday volatility only
2- Whole day actual trading between 8029-8100

Conclusions from intra day chart analysis 

As Indian Mutual Funds requires to maintain NAV therefore strong rally was seen yesterday after their huge buying and they will support market till 30 Dec and till then decisive down moves are not expected. 

Although closing near the lower levels of the day but no clear selling patterns formations at higher levels of the day. As one sided intraday patterns formations were not seen therefore same following view which was expressed yesterday in "Today Started Rally Continuation towards Next Resistance":-

Still Nifty will be understood sideways between 7894-8275 because resistances are lying between 8252-8275 also. Expected that Nifty will firstly trade and prepare for next decisive moves between 7942-8159 and finally valid break out of this range will give next trend first indication and finally confirmation will be sustaining beyond 7894-8275.  

Today Started Rally Continuation towards Next Resistance

Intra Day Chart Analysis & Market Outlook

(28-12-2016)

Nifty-Intra Day Chart (27-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- Support between 7904-7924
2- Mixed Patterns between 7943-7956
3- Fast up moves in last hours
4- Whole day actual trading between 7904-8044

Conclusions from intra day chart analysis 

Following conclusive lines were told yesterday in "Correction Continuation Expectations":-

1- As Nifty hovered around 7917 more than 5 hours when traded between 7894-7938 therefore sustaining beyond this range will confirm deeper correction or a Pull Back Rally
2- but expected that finally correction continuation will be seen below 7894 after follow up selling within or near about mentioned range

As corrective Wave-C is on with deeper correction targets and no confirmation of its completion yet therefore finally correction continuation was expected but  Pull Back Rally was seen after lower levels supports and closing near the higher levels of the day today.

Following supports and resistances were updated on 25-12-2016 in "7917 Will Confirm Next Big Moves":-

Next supports of Nifty are as follows:-

1- 7942-7966  
2- 7917-7942

Next resistances of Nifty are as follows:-

1- 8137-8159
2- 8165-8200
3- 8168-8224

Nifty tested above mentioned supports and first resistance range is much above today highest at 8137 therefore today started rally will remain continued towards it because selling pattern formations were not seen at higher levels of the day.

Still Nifty will be understood sideways between 7894-8275 because resistances are lying between 8252-8275 also. Expected that Nifty will firstly trade and prepare for next decisive moves between 7942-8159 and finally valid break out of this range will give next trend first indication and finally confirmation will be sustaining beyond 7894-8275.  

Correction Continuation Expectations

Intra Day Chart Analysis & Market Outlook

(27-12-2016)

Nifty-Intra Day Chart (26-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours trading with Mixed Patterns between 7894-7938
2- Down moves in Bullish Falling Channes 
3- Up moves in Bearish Rising Channel
4- Selling patterns formations
5- Whole day actual trading between 7894-7954

Conclusions from intra day chart analysis

Firstly loosing 91 points after gap down opening and after that more than 5 hours trading with Mixed Patterns between 7894-7938 is suggesting that correction is on.

Following lines were told yesterday in "7917 Will Confirm Next Big Moves":-

1- once break down of its Neckline(7980) will mean strong signal of down moves below day's lowest.
2- correction continuation will be considered 
3-  firstly sustaining beyond 7917 should be watched in next week because it will confirm next big moves amid correction continuation possibilities.

As Nifty hovered around 7917 more than 5 hours when traded between 7894-7938 therefore sustaining beyond this range will confirm deeper correction or a Pull Back Rally but  expected that finally correction continuation will be seen below 7894 after follow up selling within or near about mentioned range.

7917 Will Confirm Next Big Moves

Technical Analysis,Research & Weekly Outlook

(Dec 26 to Dec 30,2016)

Nifty-EOD Chart (23-Dec-2016):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning after bottom formation at 6825.80 on 29-02-2016
2- Wave-1(7777.6 on 31-03-2016) 
3- Wave-2(7516.90 on 11-04-2016)
4- Wave-3(8728.40 on 09-08-2016)
5- Wave-4(8540.10 on 11-08-2016)
6- Wave-5 completion at 8968.70 on 07-09-2016 and corrective Wave-A beginning
7- Wave-A(7916.40 on 21-11-2016)
8- Wave-B(8275.00 on 09-12-2016)
9- Corrective Wave-C continuation with recent bottom formation at 7942.10 on 23-12-2016

Intra Day Chart Analysis(23-12-2016)

Nifty-Intra Day Chart (23-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7942-7966
2- Selling between 8002-8022
3- Bearish Head and Shoulders formations in last 4 hours with Neckline at 7980
4- Whole day actual trading between 7942-8022

Conclusions from intra day chart analysis 

Although  up moves in the Mid session after first 2 hours lower levels consolidation but selling was also seen at higher levels of the day therefore market will be understood sideways within day's trading range. Intraday  Bearish Head and Shoulders formations in last 4 hours and once break down of its Neckline(7980) will mean strong signal of down moves below day's lowest.

Conclusions (After Putting All Studies Together)

As nifty slipped below Wave-ii of Wave-3(7927.05 on 24-06-2016) on 21-11-2016 and new intraday lowest formation was below it at 7916.40 therefore waves structure of post 29-02-2016 rally has been recounted in above manner because as per that Wave structure which was recently updated on 20-11-2016,Nifty was not to slip below Wave-ii of Wave-3. 

Now corrective Wave-C continuation with recent bottom formation at 7942.10 on 23-12-2016 and no confirmation of its completion yet on EOD charts therefore correction continuation will be considered according to following Fibonacci Retracement levels of  post Budget Rally(6826-8968):-

1- 13.0%- 8689(Corrected)
2- 23.6%- 8462(Corrected)
3- 27.0%- 8389(Corrected)
4- 38.2%- 8149(Corrected)(Crucial)
5- 50.0%- 7897(Crucial)
6- 61.8%- 7644(Crucial)
7- 70.7%- 7453
8- 76.4%- 7331
9- 78.6%- 7284 
10-88.6%- 7070 

Next supports of Nifty are as follows:-

1- 7942-7966  
2- 7917-7942

Next resistances of Nifty are as follows:-

1- 8137-8159
2- 8165-8200
3- 8168-8224

Sustaining below 7917 will mean correction continuation towards following supports and may be much below 7525 also:-

1- 7690-7795(Multiple supports)
2- 7525-7595

As corrective Wave-C is having much deeper correction targets and correction is still on therefore firstly sustaining beyond 7917 should be watched in next week because it will confirm next big moves amid correction continuation possibilities. 

Correction continuation 

Intra Day Chart Analysis & Market Outlook

(23-12-2016)

Nifty-Intra Day Chart (22-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- Loosing 52 points in first 30 minutes
2- Last 5 hours trading with Mixed Patterns formations between 7965-7996
3- Whole day actual trading between 7965-8046

Conclusions from intra day chart analysis 

Loosing 52 points in first 30 minutes after gap down opening and after that continuous down moves till opening of European markets which means that selling till 01:30 PM today. Although last 5 hours trading with Mixed Patterns formations between 7965-7996 and some recovery from lower levels but more selling will be considered within this range because:-

1- recovery from lower levels was on the back of some up moves in European markets.
2- This trading range moves were more than 0.75 downward levels therefore selling will be considered in today like sentiments.

As intraday patterns of today are suggesting fresh selling therefore correction continuation will be seen below today lowest.

Correction Continuation towards next Supports

Intra Day Chart Analysis & Market Outlook

(22-12-2016)

Nifty-Intra Day Chart (21-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours trading with Mixed Patterns between 8077-8106
2- sharp down in last hour 
3- Whole day actual trading between 8054-8106

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after sharp fall in last hour but as such selling patterns were not seen and firstly more than 5 hours trading with Mixed Patterns formations therefore sustaining below yesterday mentioned supports lowest(8063) if firstly required for on going correction continuation. Next supports below today lowest are as follows:-

Nifty spot- 7916-7995 (Multiple strong supports)
Nifty Dec Fut- 7977-8032 

Correction is very much on and no confirmation of its completion yet therefore last hour down moves despite Mixed patterns formations in first 5 hours today. Although Nifty Spot next supports are up to 7916 but Nifty Dec Fut supports are up to 7977 therefore its once valid break down will mean Nifty Spot will not getting supports at 7916 and much deeper correction will get confirmations below 7977(Nifty Dec Fut)

Correction continuation is expected towards above mentioned supports and finally next trend will be decided according to sustaining beyond them. 

Watch  Crucial Levels for next trend indications and confirmations

Market Outlook(21-12-2016)

Next supports between 8063-8083 were updated 2 times in previous 3 outlooks and Nifty closed within this range at 8082.40 with today lowest formations at 8062.75 which means that Nifty completely honoured this support range on 20-12-2016. As strong supports are below 8063 and equally strong resistances are above 8083 therefore firstly sustaining it beyond should be watched in the coming sessions because that will give first indication of next trend.

1- Immediate multiple strong supports are between 7916-7995
2- Next resistances are between 8137-8159,8165-8200 and 8168-8224

Expected that Nifty will firstly trade and prepare for next big trend between 7995-8137 in the coming 1/2 sessions but final confirmation of next trend will be valid break out of 7916-8224 because that will confirm deeper 400 points correction below 7916 or fresh strong rally after correction completion above 8224.

As Nifty is trapped between supports and resistances therefore above mentioned levels levels should be firstly watched one by one in the coming sessions for next Trend indications and confirmations.

Firstly Watch Next Supports after Mixed Patterns formations today 

Intra Day Chart Analysis & Market Outlook

(20-12-2016)

Nifty-Intra Day Chart (19-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- 5 Hours trading with Mixed Patterns between 8106-8132
2- Sharp down in last hour
3- Whole day actual trading between 8094-8132

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after last hours down moves but as such selling patterns were not seen but Mixed Patterns formations between 8106-8132 in first 5 hours today therefore follow up moves for the preparation of next decisive moves is firstly required within and near about today trading range.

Next supports between 8063-8083 were updated on 15-12 2016 in "Deeper correction below 8150" and its valid break out should be firstly watched in the coming sessions because pure selling patterns formations was not seen today and fresh selling tomorrow will mean possibility of sharp fall towards next supports(7916-7995) 

Correction Continuation Expectations

Intra Day Chart Analysis & Market Outlook

(19-12-2016)

Nifty-Intra Day Chart (16-Dec-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8137-8159
2- Whole day actual trading between 8128-8159

Conclusions from intra day chart analysis

As whole day trading within 32 points with only intraday selling patterns formations therefore on going correction continuation is expected in the beginning of next week.