Finally Rally continuation after follow up Consolidation

Intra Day Chart Analysis & Market Outlook

(31-01-2017)

Nifty-Intra Day Chart (30-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8618-8640
2- Whole day actual trading between 8618-8662

Conclusions from intra day chart analysis 

Following lines were told on 29-01-2016 in "Firstly Very Short Term correction before Budget":-

Very Short Term correction is firstly expected in the beginning of next week.

As was told 100% same happened and Nifty traded most time in Red below previous closing(8641.25) and also closed negative today near the lower levels of the day after 44 points sideways trading but consolidation patterns formations near the lower levels of the day therefore 1st signal of on going rally continuation after last 2 sessions correction completion.

Trading between 8624-8672 with higher levels selling last Friday therefore more consolidation is also required for next up moves and its happening tomorrow will mean fresh strong beginning on 1st Feb 2017. 

Dow Jones is trading 200 points down at this moment today and its such weaker closing will mean high possibility of weaker Asian markets tomorrow morning and resultant Indian markets may also open negative but expected that finally rally will remain continued above 8672 after follow up consolidation.

Firstly Very Short Term correction before Budget

Intra Day Chart Analysis & Market Outlook

(30-01-2017)

Nifty-Intra Day Chart (27-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8653-8672
2- Whole day actual trading between 8624-8672

Conclusions from intra day chart analysis 

Although 0.45% Green closing after whole day positive zone trading but clear selling patterns formations were also seen and no consolidation patterns formations therefore Very Short Term correction is firstly expected in the beginning of next week.

Correction may be sideways near about day's trading range(8624-8672) also but once slipping sharply below day's lowest also can not be ruled out. As Union Budget on 1st Feb 2017 therefore Nifty will prepare for post Budget moves in the coming 2 sessions without sustaining above day's highest(8672). 

Expected that finally decisive moves beyond day's trading range will be seen after Budget and before that Nifty will prepare for that within and near about 8624-8672. 

Happy Republic Day

Rally Continuation above 8600

Intra Day Chart Analysis & Market Outlook

(27-01-2017)

Nifty-Intra Day Chart (25-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Whle day up moves with intraday consolidation
2- Whole day actual trading between 8494-8612

Conclusions from intra day chart analysis 

As whole day up moves after positive opening with intraday consolidation also therefore rally continuation is expected above 8600 but short Term Indicators have turned over bought today after last 3 sessions rally therefore minor correction for consolidation can not be ruled out any day but finally rally continuation will be seen because until complete selling patterns on EOD charts will not develop till then decisive down moves will not be seen. 

Rally Continuation above 8500

Intra Day Chart Analysis & Market Outlook

(25-01-2017)

Nifty-Intra Day Chart (24-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8428-8445
2- Last hours up moves with consolidation
3- Whole day actual trading between 8399-8480

Conclusions from intra day chart analysis 

Although Nifty closed at the top of Rally at 8475.80 today but we told for Rally continuation in all the previous 11 Outlooks since 08-01-2017. Even though when Nifty closed near the lowest of the day last Friday but told following conclusive line on 22-01-2017 in "Still Rally continuation Expectations":-

finally rally will remain continued above previous 7 sessions highest(8460)

Up moves beginning after positive opening and whole day rally continuation after follow up consolidations as well as no selling pattern formations today therefore rally continuation is expected above 8500. As very short Term Indicators have turned over bought today after last 2 sessions rally therefore minor correction for consolidation can not be ruled out any day but finally rally continuation will be seen because until complete selling patterns on EOD charts will not develop till then decisive down moves will not be seen.

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

Still Rally continuation Expectations

Intra Day Chart Analysis & Market Outlook

(23-01-2017)

Nifty-Intra Day Chart (20-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 8400-8423
2- Down moves in Bullish Falling Channel in last 3 hours
3- Whole day actual trading between 8341-8423

Conclusions from intra day chart analysis 

As uncertainty and confusion surrounding Donald Trump’s policies and most Global markets were weak on his oath of office taking day therefore weak opening of Indian markets. Although firstly Mixed Patterns formations between 8400-8423 but in the last 3 hours Down moves in Bullish Falling Channel therefore view will not be Bearish despite day's closing at the lower levels of the day after slipping and closing below previous 6 sessions lowest(8374).

Still expected that Nifty will move above last Friday highest in the beginning of next week and finally rally will remain continued above previous 7 sessions highest(8460)

Mid-session Outlook(20-01-2017)

Billionaire investor George Soros says that global markets will falter due to “uncertainty” and confusion surrounding Donald Trump’s policies.

Soros says Trump ‘uncertainty’ will cause global markets to falter

(Just click above topic link and go through whole news)

Down moves which started from US markets fall yesterday night,remained continued in most Asian and European markets and in reaction Indian markets are also weak since opening today which is Trump's oath of office taking day.

Although last 6 sessions trading between 8374-8460 and this trading range also broken down(now trading at 8355) but due to above news led Global markets reaction therefore firstly sustaining below 8374 should be watched in the beginning of next week for decisive down moves confirmations.

Intra Day Chart Analysis & Market 
Outlook(20-01-2017)

Nifty-Intra Day Chart (19-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8405-8423
2- Mixed Patterns between 8461-8440
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 8405-8445

Conclusions from intra day chart analysis 

Selling between 8442-8460 was told yesterday in "Finally Rally Expectations after follow up Consolidation" and Nifty traded almost whole day as well as closed below it but consolidated nicely also therefore view will not be Bearish. 

Last 6 sessions trading between 8374-8460 with lower levels good consolidation but last resistance between 8442-8460 therefore follow up consolidation is firstly required for decisive and fast up moves above 8460.

As lower levels sufficiently good consolidation today therefore expected that finally rally will remain continued above 8460 after follow up consolidation in the coming sessions.

Finally Rally Expectations after follow up Consolidation

Intra Day Chart Analysis & Market Outlook

(19-01-2017)

Nifty-Intra Day Chart (18-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling between 8442-8460
3- Consolidation between 8398-8424
4- Whole day actual trading between 8398-8460

Conclusions from intra day chart analysis 

Although 27 points up moves in first minute but after that up moves in Bearish Rising channel and higher levels selling also therefore down moves in Mid Session of the day. As lower levels consolidation also in last 3 hours therefore today whole day trading will be understood with Mixed patterns formations and firstly Nifty will have to trade and prepare for next decisive moves within today trading range.

As last 5 sessions trading between 8374-8460 with both selling and consolidation patterns formations therefore Nifty will trade and prepare for prepare for next decisive moves beyond this trading range which will be firstly done within and near about it in the coming sessions.

Although today closing near the lower levels of the day but lower levels consolidation also therefore expected that finally rally will remain continued above 8460 after follow up consolidation in the coming 1/2 sessions.

Finally Rally Continuation after Sideways Correction Completion

Intra Day Chart Analysis & Market Outlook

(18-01-2017)

Nifty-Intra Day Chart (17-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Whole day actual trading between 8379-8440

Conclusions from intra day chart analysis 

As positive news from GST council meeting yesterday evening therefore initial up moves also after positive opening but not sustaining at higher levels and slipping into negative zone within 1st hour of trading. Although 14 points down closing after last more than 5 hours negative zone trading but view will not be Bearish because all the Down moves were in Bullish Falling Channels which is showing consolidation patterns formations today.

Last 4 sessions trading within 66 points between 8374-8440 with both selling and consolidation patterns formations therefore Nifty will trade and prepare for prepare for next decisive moves beyond this trading range which will be firstly done within and near about it in the coming sessions.

As Bullish rally is on and sufficient consolidation patterns were also seen within 8374-8440 in last 4 sessions therefore it will be understood that Nifty is correcting within sideways trading range and finally rally will remain continued above 8440 after follow up consolidation in the coming 1/2 sessions.

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

Finally Rally Continuation after follow up Consolidation

Technical Analysis,Research & Weekly Outlook

(Jan 16 to Jan 20,2017)

Nifty-EOD Chart (13-Jan-2017):-

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Technical Patterns and Formations in EOD charts

1- Resistances between 8506-8969
2- Supports between 7894-8219

Intra Day Chart Analysis(13-01-2017)

Nifty-Intra Day Chart (13-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- More than 5 hours trading Mixed Patterns between 8374-8406
3- Whole day actual trading between 8374-8442

Conclusions from intra day chart analysis 

Firstly Down moves in Bullish Falling Channel but after that more than 5 hours trading with Mixed Patterns between 8374-8406 therefore Nifty has to prepare for next decisive moves within and near about this trading range.

Conclusions (After Putting All Studies Together)

Nifty closed at 8400 in previous trading session which is in the center of multiple resistances and supports but last 3 sessions closing above Long Term Trend decider 200 Day DMA(today at 8297) after gap up opening on 11-01-2017 therefore high possibility of on going rally continuation towards above mentioned next resistances.

Although intraday charts of 13th Jan is showing more than 5 hours trading with Mixed Patterns between 8374-8406 but good consolidation was seen between 8383-8398 on 12th Jan therefore up moves continuation possibility is alive.

As indicators are overbought therefore some volatility and Short Term Correction can not be ruled out for cooling down but finally rally continuation is expected after follow up consolidation.

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.