Finally rally above 9200 after 2/3 sessions follow up consolidation

Intra Day Chart Analysis & Market Outlook

(22-03-2017)

Nifty-Intra Day Chart (21-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours Down moves in Bullish Falling Channel
2- Consolidation between 9088-9108
3- Whole day actual trading between 9088-9147

Conclusions from intra day chart analysis 

Although most time negative zone trading with little down closing but lower levels good consolidation after 4 hours Down moves in Bullish Falling Channel therefore it will be understood that Indian markets are in consolidation phase and resultant finally rally will be seen above 9200 after 2/3 sessions follow up consolidation despite now SGX Nifty trading 45 points down after 175 slipping of Dow Jones today.

Finally rally above 9200

Intra Day Chart Analysis & Market Outlook

(21-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 9117-9127
2- Whole day actual trading between 9117-9147

Conclusions from intra day chart analysis 

Although whole day negative zone trading and 0.36% down closing also but good consolidation Patterns formations between 9117-9127 therefore some up moves are expected tomorrow. 

Following lines were told yesterday in "Rally continuation expectations above 9200 after follow up consolidation":-

1- good consolidation was seen between 9130-9140 on 16-03-2017
2- Selling between 9156-9170
3- Last 2 sessions actual trading between 9130-9186 without one sided intraday patterns formations therefore Nifty has to traded and prepare for next decisive moves within this range which will be done in the beginning of next week

Although most time trading below 8130 today but good consolidation was seen below it therefore view will not be Bearish and once sustaining above 9140 will mean strong indication of fresh up moves beginning. As selling was seen below 9170 last Friday therefore sustaining above 9170 is must after follow up complete consolidation for next rally beginning.

As lower levels consolidation today also after good consolidation on 16-03-2017 therefore still expected that finally rally will be seen above 9200 after follow up consolidation.

Rally continuation expectations above 9200 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(20-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- More than 2 hours down moves in Bullish Falling Channel
2- Selling between 9156-9170
3- Whole day actual trading between 9148-9186

Conclusions from intra day chart analysis 

Although firstly more than 2 hours down moves in Bullish Falling Channel but after that selling also between 9156-9170 therefore intraday patterns will be understood with mixed Patterns formations between 9148-9186 and its valid break out will be next decisive moves first indication.

As good consolidation was seen between 9130-9140 on 16-03-2017 and it will first support but Indian markets under performed Global markets on that day therefore view will be cautiously Bullish.

Last 2 sessions actual trading between 9130-9186 without one sided intraday patterns formations therefore Nifty has to traded and prepare for next decisive moves within this range which will be done in the beginning of next week and finally sustaining beyond this range should be watched for Short Term correction below 9130 and rally continuation above 9186 despite still expectation of rally continuation above 9200 after follow up consolidation in next week.

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

Finally rally will remain continued above 9150 despite whatsoever decision by FOMC tonight

Intra Day Chart Analysis & Market Outlook

(15-03-2017)

Nifty-Intra Day Chart (15-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel 
3- Whole day actual trading between 9076-9106

Conclusions from intra day chart analysis 

Although firstly up moves in Bearish Rising Channel but Down moves in Bullish Falling Channels were also seen therefore high possibility of rally continuation above today highest despite today closing near the lower levels of the day. As sufficiently good intraday consolidation patterns formations in last 2 sessions therefore it is confirm that finally rally will remain continued above 9150 despite whatsoever decision by FOMC tonight.

Finally rally continuation after follow up consolidation 

Intra Day Chart Analysis & Market Outlook

(15-03-2017)

Nifty-Intra Day Chart (14-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 9061-9100
2- Whole day actual trading between 9061-9122

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Finally rally continuation above 9150 after higher levels follow up consolidation "

1- Nifty will open above 9000 after gap up opening and new life time high formation above 9119.20 also can not be ruled out tomorrow
2- As high possibility of rates hike by FOMC on 15th March therefore very Short Term Correction is also possible
3- expected that finally rally will remain continued above 9150 after higher levels follow up consolidation between 8995-9150. 

As was told 100% same happened and Nifty traded whole day within mentioned trading range(8995-9150) with new life time high formation at 9122.75 today.  

Although good intraday consolidation with 1.71% gains today but high possibility of rates hike by FOMC on 15th March therefore very Short Term Correction and high volatility are also possible in the next 2 sessions but expected that finally rally will remain continued above 9150 after higher levels follow up consolidation between 8995-9150 because:-

1- 13 Sessions trading range(8860-8993) broken out forcefully today.
2- Intraday consolidation patterns formations above 13 sessions trading range today.  

Finally rally continuation above 9150 after higher levels follow up consolidation 

Intra Day Chart Analysis & Market Outlook

(14-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- More than 6 hours trading with consolidation Patterns between 8904-8955
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8904-8975

Conclusions from intra day chart analysis 

Although most Asian markets were trading flat to weak but Indian markets opened strong last Friday which was first signal of strength. As firstly Down moves in Bullish Falling Channel and after that more than 6 hours trading with consolidation Patterns formations therefore emergence of rally continuation expectations.

Following lines were told in previous Outlook on 09-03-2017 in "Rally continuation above 9000":-

Last 12 sessions sideways trading between 8860-8993 with good consolidation patterns formations and follow up consolidation was seen today also therefore high possibilities of rally above 9000 in the coming sessions. 

As huge victory of BJP in Assembly Elections on 11th March therefore SGX Nifty is trading 225 points up at 9180 today which means that Nifty will open above 9000 after gap up opening and new life time high formation above 9119.20 also can not be ruled out tomorrow. We told for rally continuation more than 10 times and 4 times above 9000 in last 1 month which will be seen tomorrow but follow up consolidation is firstly required because more than 34 lac Call options position formations last Friday. As high possibility of rates hike by FOMC on 15th March therefore very Short Term Correction is also possible but expected that finally rally will remain continued above 9150 after higher levels follow up consolidation between 8995-9150. 

Rally continuation above 9000

Intra Day Chart Analysis & Market Outlook

(10-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8906-8930
2- Up moves with intraday corrections
3- Whole day actual trading between 8900-8945

Conclusions from intra day chart analysis 

As all the Global markets were much down therefore weaker opening today but whole day good consolidation between 4 hours sideways market and after that up moves with intraday corrections therefore rally continuation is expected. Last 12 sessions sideways trading between 8860-8993 with good consolidation patterns formations and follow up consolidation was seen today also therefore high possibilities of rally above 9000 in the coming sessions. 

Finally rally continuation after Very Short Term correction completion today 

Intra Day Chart Analysis & Market Outlook

(08-03-2017)

Nifty-Intra Day Chart (07-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 8933-8954
3- Whole day actual trading between 8933-8977

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Finally Rally continuation after Minor Correction":-

1- As Very Short Term indicators have turned overbought and Nifty has to consolidate between 8931-8992 
2- which will be firstly done in the coming sessions therefore minor intraday corrections also can not be ruled out within this range.

Nifty traded whole day today within yesterday mentioned range with most time negative zone trading but consolidation was firstly seen through Down moves in Bullish Falling Channel and after that sideways trading with consolidation patterns formations between 8933-8954 therefore finally on going rally continuation is expected after Very Short Term correction completion today.

Finally Rally continuation after Minor Correction

Intra Day Chart Analysis & Market Outlook

(07-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Sharp up after gap up opening
2- Consolidation Patterns formations between 8931-8968
3- Whole day actual trading between 8914-8968

Conclusions from intra day chart analysis 

Firstly sharp up after gap up opening and after that more than 6 hours consolidation Patterns formations between 8931-8968 therefore on going rally continuation is expected. As Very Short Term indicators have turned overbought and Nifty has to consolidate between 8931-8992 which will be firstly done in the coming sessions therefore minor intraday corrections also can not be ruled out within this range and until Nifty will not sustain below 8881 after complete follow up selling till then any decisive down moves will not be seen.

Strong signals of rally continuation in next week

Intra Day Chart Analysis & Market Outlook

(06-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- 4 Hours consolidation Patterns formations between 8861-8883
2- Whole day actual trading between 8861-8907

Conclusions from intra day chart analysis 

Supports between 8864-8876 were updated on 28-02-2017 in "Firstly watch next supports for on going correction continuation/completion" and 4 Hours consolidation Patterns formations within this range between 8861-8883 was seen on 03-03-2017 therefore strong signals of rally continuation in next week which is expected also.

Finally rally above 9000 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(03-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation patterns formations between 8940-8992
2- Sharp fall in last hour
3- Whole day actual trading between 8880-8992

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after sharp fall in last hour but selling patterns were not seen and consolidation patterns formations in first 5 hours therefore view will not be Bearish because today down moves will be cooling down of sentiments which turned heated after 300 points Dow Jones rally last Wednesday.

As above reasons therefore expected that finally rally will be seen above 9000 after follow up consolidation in next 1/2 sessions because Indian markets are Bullish and any deeper correction can not be considered after such 1 day fall.

Rally continuation after short term correction completion 

Intra Day Chart Analysis & Market Outlook

(02-03-2017)

Nifty-Intra Day Chart (01-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 70 Points up in first 20 minutes after strong opening
2- 5 Hours consolidation Patterns between 8927-8949 
3- Whole day actual trading between 8910-8950

Conclusions from intra day chart analysis 

As most Asian markets were trading positive after some consolidation yesterday therefore 70 Points up in first 20 minutes after strong opening. Although slipping from higher levels in last half hour but 5 hours good consolidation between 8927-8949 therefore rally continuation is expected after previous 3 sessions short term correction completion.

Firstly watch next supports for on going correction continuation/completion 

Intra Day Chart Analysis & Market Outlook

(01-03-2017)

Nifty-Intra Day Chart (28-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Selling patterns formation between 8888-8897
3- Whole day actual trading between 8868-8914

Conclusions from intra day chart analysis 

Although firstly down moves but selling patterns formation between 8888-8897 were also seen therefore today trading will be understood with mixed Patterns formations and Nifty will remain sideways between following supports and resistances:-

1- Supports between 8864-8876
2- Supports between 8812-8834
3- Supports between 8717-8750(strong supports)
1- Resistance between 8918-8927
2- Resistance between 8941-8950
3- Resistance between 8967-8981

As one sided technical position formations was not seen today therefore Nifty will have to traded and prepare for next decisive moves within above mentioned supports and resistances. Correction is on and no confirmation of its completion yet therefore some more down moves can not be ruled out but next supports are lying between 8864-8876 and firstly sustaining it beyond should be watched for on going correction continuation/completion.

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

Rally continuation expectations towards and above 9000

Intra Day Chart Analysis & Market Outlook

(23-02-2017)

Nifty-Intra Day Chart (22-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves with intraday corrections
2- More than 2 hours consolidation patterns formations between 8906-8931
3- Whole day actual trading between 8906-8961

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Rally continuation expectations":-

As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected 

Rally continuation with minor correction was seen today but intraday selling patterns were not developed and consolidation through Up moves with intraday corrections and more than  2 hours consolidation patterns formations between 8906-8931 therefore rally continuation is expected towards and above 9000.

Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(22-02-2017)

Nifty-Intra Day Chart (21-Feb-2017):

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-Technical Patterns and Formations in today intraday charts

1- Consolidation between 8861-8877
2- Whole day actual trading between 8861-8920

Conclusions from intra day chart analysis 

Although firstly some down moves but lower levels good consolidation between 8861-8877 therefore up moves were seen in last 2 hours. As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected because selling patterns have not been seen yet which are must on intraday and EOD charts for decisive down moves. 

Sustaining above 8855 will confirm rally towards and above 9000

Intra Day Chart Analysis & Market Outlook

(20-02-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel after strong opening
2- Consolidation Patterns between 8805-8836
3- Fast slipping from 8855
4- Whole day actual trading between 8805-8896

Conclusions from intra day chart analysis 

Although fast slipping after strong opening but down moves were in Bullish Falling Channel and lower levels consolidation Patterns formations also between 8805-8836 therefore rally continuation is expected in next week. As not sustaining at higher levels and closing within previous 9 sessions trading range(8715-8826) at 8821.70 as well as fast slipping again from 8855 last Friday therefore only sustaining 8855 should be watched in the beginning of next week for on going rally continuation confirmations towards and above 9000.

Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(17-02-2017)

Nifty-Intra Day Chart (16-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8720-8743
2- Follow up consolidation at higher levels after up moves
3- Whole day actual trading between 8720-8783

Conclusions from intra day chart analysis 

Although yesterday closing was near the lower levels of the day after sharp down from higher levels but we were not Bearish and posted following named topic yesterday:-

Still Rally continuation Expectations

As lower levels consolidation and after that up moves with follow up consolidation therefore on going rally continuation is expected tomorrow. Nifty is sideways between 8715-8826 for the last 9 sessions and firstly sustaining above 8826 should also be watched for fresh and decisive up moves towards 9000 and it is expected also. 

Still Rally continuation Expectations

Intra Day Chart Analysis & Market Outlook

(16-02-2017)

Nifty-Intra Day Chart (15-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Consolidation Patterns formations in last 4 hours between 8713-8752
3- Whole day actual trading between 8713-8807

Conclusions from intra day chart analysis 

Although 0.77% negative closing after slipping from higher levels but firstly Down moves in Bullish Falling Channels and after that last 4 hours consolidation Patterns formations therefore it will be understood that Indian markets in consolidation process and preparing for decisive up moves.

Previous 7 sessions sideways trading was between 8715-8826 and Nifty slipped below it to 8713 today but closed above it with whole day intraday consolidation therefore still rally continuation is expected above 8826 in the coming 3/4 sessions.

Emergence of rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(15-02-2017)

Nifty-Intra Day Chart (14-Feb-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channels
2- Sharp down in last 20 minutes
3- Whole day actual trading between 8773-8820

Conclusions from intra day chart analysis 

Although most time negative zone trading and sharp down in last 20 minutes also but whole day down moves in Bullish Falling Channels which is consolidation pattern therefore emergence of rally continuation expectations above last 7 sessions highest(8826). As Indian markets under performed Global markets therefore some more follow up consolidation is also required for fresh and decisive up moves beginning.

Expected that Nifty firstly trade between today trading range and prepare for fresh rally as well as sustaining it beyond should also be watched for confirmations.