Follow up consolidation firstly required fresh decisive rally

Intra Day Chart Analysis & Market Outlook

(22-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours trading with Mixed Patterns formations between 9609-9626
2- Strong recovery from lower levels
3- Whole day actual trading between 9609-9648

Conclusions from intra day chart analysis 

Although strong recovery from lower levels after 02:00 PM but before that more than 4 hours trading with Mixed Patterns formations between 9609-9626 therefore sustaining above 9629 is must and once confirmation of sustaining above it will mean strong indication of fresh rally beginning above 9686 because consolidation was seen between 9615-9629 on 19-06-2017 also.

As last 18 sessions sideways trading within 125 points between 9561-9686 with following higher levels resistances therefore follow up consolidation is also firstly required fresh decisive rally above 9686:-

1- 9665-9676 
2- 9676-9686 

At present more or less same view which is being updated for the last many Outlooks that finally sustaining beyond 9561-9686 will confirm next trend and that should be firstly watched.

Deeper correction or fresh rally towards 10000 confirmations from levels

Intra Day Charts Analysis & Market Outlook

(21-06-2017)

Nifty-Intra Day Chart (Jun 19 & Jun 20,2017):-

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Technical Patterns and Formations in last 2 Sessions intraday charts

1- Consolidation between 9615-9629 on 19-06-2017
2- Selling between 9665-9676 on 20-06-2017
3- 2 Sessions actual trading between 9615-9676 

Conclusions from 2 Sessions intra day chart analysis 

Last 2 sessions trading with good consolidation between 9615-9629 yesterday and equally good selling between 9665-9676 therefore Nifty will remain sideways and firstly prepare for next decisive moves within last 2 sessions trading range(9615-9676) tomorrow.

Last 17 sessions trading between 9561-9686 and finally sustaining it beyond will form next more than 3% moves which should be firstly watched for next trend confirmations because that will mean deeper correction below 9561 or fresh rally towards 10000 above 9686.

As busy therefore Stock Market Outlook of today(20-06-2017) is not being updated.

Next more than 3%  decisive moves confirmation through crucial levels

Intra Day Chart Analysis & Market Outlook

(19-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channels
2- Intraday corrections
3- Whole day actual trading between 9566-9615

Conclusions from intra day chart analysis 

As only intraday volatility with Up moves in Bearish Rising Channels and sufficiently good intraday corrections also therefore today trading will be understood without one sided specific position formations and next more than 3%  decisive moves will get confirmation through sustaining beyond following crucial levels:-

1- 9561-9627(First indication from last 3 sessions trading range)
2- 9561-9686(Final confirmation from last 15 sessions trading range)

Firstly watch levels for correction continuation/completion

Intra Day Chart Analysis & Market Outlook

(16-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 9606-9612
2- More than 4 hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 9561-9621

Conclusions from intra day chart analysis 

Previous 12 sessions sideways trading was between 9586-9686 and today closing below it after higher levels some selling but more than 4 hours Down moves in Bullish Falling Channel also today therefore emergence of Pull Back Rally expectations. 

As correction is on and no confirmation of its completion yet but signals of its completion today after consolidation through more than 4 hours Down moves in Bullish Falling Channel therefore firstly sustaining beyond 9561-9586 lowest should be watched for on going correction continuation/completion.

As busy therefore Stock Market Outlook of today(15-06-2017) is not being updated.

9586 Will confirm Deeper Correction

Intra Day Chart Analysis & Market Outlook

(14-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours selling between 9636-9654
2- Down moves in last hours
3- Whole day actual trading between 9596-9654

Conclusions from intra day chart analysis 

As more than 4 hours selling between 9636-9654 and after that down moves in last hours therefore strong signals of correction continuation and firstly sustaining beyond 9586 should be watched in the coming sessions because that will confirm deeper correction after valid break down of last 11 sessions sideways trading market.

Firstly Watch trading Range for Next Trend confirmations

Intra Day Chart Analysis & Market Outlook

(13-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 9630-9640
2- Selling between 9627-9634
3- Up moves in Bearish Rising Channel
4- Whole day Down moves in Bullish Falling Channel
5- Whole day actual trading between 9599-9647

Conclusions from intra day chart analysis 

As most Asian markets were trading in Red therefore weaker opening of Indian markets and slipping also after sufficient selling patterns formations but Whole day Down moves in Bullish Falling Channel hence today trading will be understood with Mixed patterns formations. 

Following lines were told at 08:25 AM today in "Pre-open Outlook(12-06-2017)":-

Last 9 sessions sideways trading between 9586-9686 and finally sustaining beyond this range will generate next trend.

Expected that Nifty will trade and prepare for next trend within last 10 sessions sideways range(9586-9686) and sustaining it beyond should be firstly watched for its confirmations.

Pre-open Outlook(12-06-2017)

As some Asian markets are trading in Red and resistances are also lying above last Friday highest therefore weaker opening is possible today morning but good consolidation between 9609-9636 last Friday and until Nifty will not sustain below 9609 after complete fresh selling till then decisive down moves will not be seen.

Last 9 sessions sideways trading between 9586-9686 and finally sustaining beyond this range will generate next trend. As Nifty will trade within this range for its preparation in the coming sessions therefore next trend will be decided according to coming sessions intraday charts formations and will be updated accordingly.

Rally continuation expectations after fresh follow up consolidation

Intra Day Chart Analysis & Market Outlook

(12-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 9609-9636
2- Good up moves in last hours
3- Whole day actual trading between 9609-9676

Conclusions from intra day chart analysis

As firstly more than 4 hours consolidation and good up moves in last hours therefore more up moves are expected in the beginning of next week but sufficiently strong resistances are also lying between 9667-9686 and follow up consolidation is also required for fresh rally above life time high(9709).

Expected that finally rally will remain continued after fresh follow up consolidation in the coming weeks.

As serious accident in our family and I shall remain out of station therefore will be able to update next Stock Market Outlook from 11-06-2017.

Rally continuation after very Short Term or intraday Correction  

Intra Day Chart Analysis & Market Outlook

(06-06-2017)

Nifty-Intra Day Chart (05-Jun-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves from negative zone
2- Up moves in Bearish Rising Channel
3- Selling patterns formations between 9676-9687
4- Whole day actual trading between 9641-9687

Conclusions from intra day chart analysis 

Although firstly up moves from negative zone and closing also near the higher levels of the day but higher levels selling patterns formations were seen therefore signals of very Short Term Correction tomorrow. 

Rally is very much on and until complete selling patterns will not develop till then decisive down moves will not be seen therefore expected that on going rally will remain continued after very Short Term or intraday correction completion.  

As I was out of station therefore Stock Market Outlook of today(31-05-2017) is not being updated.

Next decisive moves strong signal from today trading range break out

Intra Day Chart Analysis & Market Outlook

(02-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 9616-9634
2- Consolidation between 9590-9606
3- Last 2 hours Mixed Patterns formations between 9606-9622
4- Whole day actual trading between 9590-9634

Conclusions from intra day chart analysis 

Whole day sideways trading with higher levels selling and lower levels buying as well as last 2 hours Mixed Patterns formations therefore again today trading will be understood with mixed patterns formations and same following view which was updated in yesterday Outlook:-

As sustaining beyond 9548-9649 will be break out of 4 sessions trading range and one sided decisive 2% moves will be seen as well as valid break out of today trading range(9590-9634) will be strong signal of last 4 sessions trading range break out  therefore should be firstly watched in the coming sessions 

Firstly Watch Levels for one sided decisive moves

Intra Day Chart Analysis & Market Outlook

(01-06-2017)

Nifty-Intra Day Chart (31-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Volatility in last 2 hours
4- Whole day actual trading between 9610-9649

Conclusions from intra day chart analysis 

Following lines were told on 29-05-2017 in "Firstly Watch Levels for Rally Continuation or Short Term Correction beginning":-

valid break out of today trading range should be firstly watched in the coming sessions for on going rally continuation above 9637 or Short Term Correction beginning below 9548.

Nifty closed within mentioned range(9548-9637) in last 2 sessions with Mixed patterns formations and volatility was seen in last 2 hours also today therefore same view that valid break out of last 3 sessions trading range should be firstly watched in the coming sessions for on going rally continuation above 9649 or Short Term Correction beginning below 9548.

As sustaining beyond 9548-9649 will be break out of 3 sessions trading range and one sided decisive 2% moves will be seen therefore should be firstly watched in the coming sessions. 

As busy therefore Stock Market Outlook of today(31-05-2017) is not being updated.

Firstly Watch Levels for Rally Continuation or Short Term Correction beginning

Intra Day Chart Analysis & Market Outlook

(30-05-2017)

Nifty-Intra Day Chart (29-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sharp up after weak opening
2- Down moves in Bullish Falling Channel
3- Up moves with intraday corrections
4- Selling between 9593-9615
5- Selling between 9616-9637
6- Whole day actual trading between 9548-9637

Conclusions from intra day chart analysis 

Although weaker opening but Sharp up moves immediately after weak opening and next 3 hours consolidation also through:-

1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections 

As selling was also seen at higher levels in last 3 hours therefore today trading will be understood with Mixed patterns formations and valid break out of today trading range should be firstly watched in the coming sessions for on going rally continuation above 9637 or Short Term Correction beginning below 9548.

Finally Rally Continuation after Very Short Term Correction 

Intra Day Chart Analysis & Market Outlook

(29-05-2017)

Nifty-Intra Day Chart (26-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Whole day up moves with intraday corrections
2- Minor selling patterns at higher levels
3- Whole day actual trading between 9495-9604

Conclusions from intra day chart analysis 

Although Nifty closed negative below all the immediate supports on 24-05-2017 but we told following lines on 24-05-2017 in "Pull Back Rally possibility":-

1- view will not be Bearish despite today closing near the lower levels of the day. 
2- Pull Back Rally may be seen any day in this week

As was told 100% same happened and strong rally was seen in next 2 sessions after 24-05-2017. 

As last 2 sessions rally with intraday corrections therefore finally rally continuation is expected but Very Short Term Correction can not be ruled out because minor selling patterns formations at higher levels last Friday and Very Short Term indicators have also turned Overbought after last 2 sessions strong rally.  

It should be kept in mind that until complete selling patterns will not develop till then decisive down moves will not be seen and follow up consolidation in the beginning of next week will mean Rally continuation towards 10,000.

As busy therefore Stock Market Outlook of today(26-05-2017) is not being updated.

Pull Back Rally possibility

Intra Day Chart Analysis & Market Outlook

(25-05-2017)

Nifty-Intra Day Chart (24-May-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 9342-9432

Conclusions from intra day chart analysis 

As Pakistan air Force activity on Siachen border today morning and Pakistan jets flied also near Siachen border therefore whole day slipping from higher levels after positive opening. All the Down moves were in Bullish Falling Channels therefore view will not be Bearish despite today closing near the lower levels of the day.

Although today closing was below all the immediate supports but were due to above mentioned negative news led and consolidation patterns were also seen today therefore a Pull Back Rally may be seen any day in this week. Certainly Short Term Correction is on and no confirmation of its completion yet but sustaining beyond today lowest(9360.55) should be watched in the coming sessions after last 2 sessions negative news led trading.

9400 will confirm fresh Rally

Intra Day Chart Analysis & Market Outlook

(24-05-2017)

Nifty-Intra Day Chart (23-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Slipping after positive opening
2- Consolidation patterns formation between 9370-9400
3- Volatility in last 3 hours
4- Whole day actual trading between 9370-9448

Conclusions from intra day chart analysis 

As news of Indian Army attacks on Pakistani bunkers along LoC in Kashmir's Nowshera sector was in the pipe line therefore following reaction on Indian financial markets today morning:-

1- Indian Rupee weakened against USD($) by 28 Paise within first 32 minutes.
2- Nifty weakened by 64 points within first 40 minutes.  

Although today closing was near the lower levels of the day but consolidation patterns formation between 9370-9400 there view will not be Bearish and until Nifty will not sustain below 9370 till then decisive down moves will not be seen.

Last supports between 9373-9387 was updated yesterday in "Up moves expectations towards next resistances" and Nifty closed within this range at 9386.15 today as well as fresh consolidation was seen within this range today therefore expectations of fresh rally above 9400 are alive but sustaining it above should also be firstly watched for its continuation confirmations because today market and last hours volatility was above mentioned new led and technical positions reverses in such news led volatility also.