Rally continuation after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(28-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves were intraday corrections
3- Whole day actual trading between 10341-10407

Conclusions from intra day chart analysis 

Sentiment was much depressed today morning due to following negative developments:-

1- All the Asian markets were trading in Red and some were more 0.75% down.
2- SGX Nifty was more than 40 points weak
3- Negative news of S&P keeping India rating unchanged. 

When above dampening developments was today morning then we told following lines today at 08:04 AM in "Firstly Watch Levels after negative developments today morning":-

1- firstly sustaining beyond 10377 should be watched in the coming sessions 
2-  view will be cautious not Bearish

As good intraday consolidation today therefore today started rally continuation is expected but follow up consolidation is must because following resistances above today highest and Vert Short Term indicators have turned overbought after strong recovery from lower levels today.

1- 10428-10454
2- 10465-10483(Last resistance)

Firstly Watch Levels after negative developments today morning

Pre-open Outlook(27-11-2017)

As all the Asian markets are trading in Red today morning and S&P keeps India rating unchanged as well as this decision came after the closure of Indian markets trading hours last Friday therefore Indian markets will react these 2 negative developments through negative opening. 

Nifty traded first 4 sessions of previous week between 10232-10377 and this range was broken out last Friday but weaker opening will be seen today due to above mentioned negative developments therefore firstly sustaining beyond 10377 should be watched in the coming sessions because good intraday consolidation last Friday and view will be cautious not Bearish.

Follow up consolidation will mean fresh rally above life time highest 

Intra Day Chart Analysis & Market Outlook

(27-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Consolidation between 10377-10393
2- Last hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 10363-10404

Conclusions from intra day chart analysis 

Following conclusive lines were told on 19-11-2017 in "Next trend confirmations from levels":-

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations. 

Nifty traded first 4 sessions between 10232-10377 and finally closed above it after whole day good intraday consolidation on 24-11-2017 therefore strong signals of rally continuation towards following next resistances:-

1- 10428-10454
2- 10465-10483(Last resistance)

As above resistances therefore follow up consolidation in the beginning of next week will mean rally continuation towards and above life time highest(10490.45) and it is expected also. 

Watch Levels for next big moves

Intra Day Chart Analysis & Market Outlook

(24-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Up moves with intraday correction
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 10308-10374

Conclusions from intra day chart analysis 

As whole day volatile market with both consolidation and selling patterns formations therefore no final view can be formed only from today intraday patterns formations. Most time selling patterns formations yesterday and most time consolidation patterns formation today means that no one sided technical positions formations in last 2 sessions.

Following conclusive lines were told on 19-11-2017 in "Next trend confirmations from levels":-

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations. 

Above lines and levels were repeated in all the previous Outlooks of this week and Nifty traded within 10232-10377 which means that Nifty is preparing for next big moves and finally sustaining beyond this range should be watched in the coming sessions.

Mid-session Outlook(23-11-2017)

As whole day selling patterns formations therefore firstly down moves expectations was told and it was seen also through negative zone trading in first 15 minutes but follow up selling is not being seen and some consolidation patterns formations also developed today therefore finally sustaining beyond 10262-10377 should be watched for next trend confirmations because strong supports and equally strong resistances are lying within this range.

Down Moves expectations

Intra Day Chart Analysis & Market Outlook

(23-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Sharp down after positive opening
1- Up moves in Bearish Rising Channel
3- Whole day actual trading between 10310-10368

Conclusions from intra day chart analysis 

Although Green closing after most time positive zone trading but whole day selling patterns formations therefore firstly down moves are expected and finally sustaining below 10262 will mean deeper correcttion. 

Levels will confirm next trend and life of on going correction

Intra Day Chart Analysis & Market Outlook

(22-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10344-10358
2- Whole day actual trading between 10316-10358

Conclusions from intra day chart analysis 

As all the Asian markets were trading with good gains therefore firstly strong opening and green closing after whole day positive zone trading but higher levels good selling therefore fast down in last hour and closing near the lower levels of the dayT 10326.90.

Following lines were told yesterday in "Levels will confirm life of on going correction":-

As strong supports and equally strong resistances are lying between 10262-10377 therefore firstly Nifty has to trade and prepare for next trend within this range in the coming sessions and finally sustaining beyond this range will confirm next trend as well as life of on going correction. 

Same above mentioned view for tomorrow because today whole day trading and closing was within mentioned trading range(10262-10377) and lower levels supports  are still lying after higher levels today selling.

Levels will confirm life of on going correction

Intra Day Chart Analysis & Market Outlook

(21-11-2017)

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

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Technical Patterns formation in today intraday charts

1- 5 Hours consolidation between 10264-10290
2- Whole day actual trading between 10262-10309

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Next trend confirmations from levels":-

1- Selling between 10310-10343
2- Previous resistances were between 10346-10377 
3- Nifty will firstly prepare for next trend between 10232-10377 in the coming week 

Selling was told above 10310 and Nifty could not move above it as well as whole day traded below it with today highest formations just below it at 10309.85. 

Although next strong resistances are between 10310-10343 but 5 hours consolidation between 10264-10290 therefore this range will be immediate strong support and until complete fresh selling will not develop till then Nifty will not easily sustain below 10264 

As strong supports and equally strong resistances are lying between 10262-10377 therefore firstly Nifty has to trade and prepare for next trend within this range in the coming sessions and finally sustaining beyond this range will confirm next trend as well as life of on going correction. 

Next trend confirmations from levels

Intra Day Chart Analysis & Market Outlook

(20-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10310-10343
2- Down moves in last hours
3- Whole day actual trading between 10269-10343

Conclusions from intra day chart analysis 

India's highest credit rating in decades and most Asian markets were trading with good gains therefore strong gap up opening last Friday but firstly more than 4 hours selling resultant slipping in last hours and closing near the lower levels of the day. 

Previous resistances were between 10346-10377 and good selling was seen just below it between 10310-10343 last Friday therefore until Nifty will not sustain above 10377 after complete fresh consolidation till then decisive up moves will not be seen and on going correction will not be considered. 

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations. 

As I shall be out of station in next week therefore Stock Market Outlook updating will be restarted from 
20-11-2017.

Firstly Watch levels for on going correction continuation/completion

Intra Day Chart Analysis & Market Outlook

(10-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections
3- Whole day actual trading between 10267-10368

Conclusions from intra day chart analysis 

Although strong opening but first 4 hours Down moves in Bullish Falling Channel and after that last 2 hours up moves with intraday corrections therefore today whole day trading will be understood with consolidation patterns formations which means emergence of Pull Back rally expectations.

As sharp fall in US and European markets therefore SGX Nifty is now trading more than 50 points down and if such weakness develops in Asian markets also tomorrow morning then weaker opening will be seen in Indian markets but until complete fresh selling will not develop till then Nifty will not sustain below today lowest and firstly sustaining below today lowest should be watched tomorrow for on going correction continuation/completion.

Watch levels for next decisive moves confirmations

 Intra Day Chart Analysis & Market 

Outlook(09-11-2017)

Nifty-Intra Day Chart (08-Nov-2017):-

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Technical Patterns formation in today intraday charts

1- Selling between 10358-10384
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Consolidation between 10286-10308
5- Whole day actual trading between 10286-10384

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Correction continuation":-

1- higher levels good selling therefore today started correction continuation will be considered 
2- minor Pull Back Rally above today lowest can not be ruled out

As was told 100% same happened and firstly Nifty traded more than 4 hours above yesterday lowest and finally closed 47 points down today.

As whole day today trading was with both consolidation and selling patterns formations therefore Nifty will firstly trade and prepare for next decisive moves within and near about today trading range(10286-10384) and finally sustaining beyond today trading should be watched for next decisive moves confirmations.

Correction continuation

Intra Day Chart Analysis & Market 

Outlook(08-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Higher levels selling
2- Selling between 10397-10443
3- Double bottom supports at lower levels
4- Whole day actual trading between 10340-10485

Conclusions from intra day chart analysis 

Although new life tile high formations but intraday charts were showing selling patterns also therefore we were cautious and updated levels(10413-10461 ) for next big moves confirmations in all the 3 previous outlook and Nifty slipped much below 10413 at 10350.15 today.  

As higher levels good selling therefore today started correction continuation will be considered but minor Pull Back Rally above today lowest can not be ruled out because last hour trading with Double bottom supports at lower levels and very short term indicators indicators have turned oversold after whole day down moves today.

As out of station therefore Stock Market Outlook of today(07-11-2017) is not being updated.

Firstly watch levels for next big moves confirmations

Intra Day Chart Analysis & Market 

Outlook(06-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Sharp fall after positive opening
2- Up moves in Bearish Rising Channel
3- 5 Hours trading with Mixed Patterns formation between 10433-10461 
4- Whole day actual trading between 10403-10461

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day last Friday but complete consolidation was not seen and some selling also developed therefore view will be cautious. As last 5 hours trading with Mixed Patterns formation between 10433-10461 therefore firstly Nifty has to prepare for next decisive moves beyond this range  

Following lines were told on 02-11-2017 in "Intra Day Chart Analysis & Market Outlook(03-11-2017)":-

Nifty traded more than 12 hours between 10413-10451 in last 2 sessions and finally valid break out of this range will confirm Short Term correction below 10413 and on going rally continuation above 10451.

Nifty closed just above 10451 at 10452.50 last Friday and traded with Mixed Patterns formation more than 18 hours between 10413-10461 in last 3 sessions therefore firstly Nifty has to prepare for next decisive moves within and near about this trading range and finally sustaining beyond this range will generate next big moves which should be firstly watched for confirmations.

Intra Day Chart Analysis & Market 
Outlook(03-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 10434-10451
2- Down moves in Bullish Falling Channel
3- Selling between 10429-10444
4- Whole day actual trading between 10413-10451

Conclusions from intra day chart analysis 

As both consolidation and selling patterns formations today therefore whole day trading will be understood with Mixed Patterns formations and firstly Nifty has to prepare for next decisive moves within 10413-10451. Nifty traded more than 12 hours between 10413-10451 in last 2 sessions and finally valid break out of this range will confirm Short Term correction below 10413 and on going rally continuation above 10451. 

As busy therefore Stock Market Outlook of today(02-11-2017) is not being updated.

Just watch levels also amid fresh rally beginning possibiilities

Intra Day Chart Analysis & Market Outlook

(01-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections
3- Volatility in last hour
4- Whole day actual trading between 10324-10367

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Short Term correction beginning confirmation from levels":-

emergence of Short Term correction possibilities and its beginning confirmation will be sustaining below 10339 which should be firstly watched tomorrow.

Emergence of Short Term correction possibilities was told yesterday and today Red closing was seen just below 10339 at 10335.30 after whole day negative zone trading.

As follow up selling was not seen and consolidation also developed through Down moves in Bullish Falling Channel and Up moves with intraday corrections today therefore signals of some up moves above today highest(10367.70) in the coming sessions.

Last 3 sessions trading near life time higher levels between 10312-10384 with both consolidation and selling therefore its valid break out should be firstly watched in the coming sessions amid fresh rally beginning possibiilities above life time highest because good intraday consolidation today.

Short Term correction beginning confirmation from levels

Intra Day Chart Analysis & Market Outlook

(31-10-2017)

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

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Technical Patterns formation in today intraday charts

1- Higher levels selling between 10370-10384
2- Whole day actual trading between 10345-10384

Conclusions from intra day chart analysis 

Following lines were told on 27-10-2017 in "Watch Levels amid Rally continuation ":-

1- rally continuation will be expected in the beginning of next week 
2- follow up moves and sustaining beyond 10339-10360 should also be firstly watched for sustaining above 10366.

Rally continuation was seen through strong opening and 40.60 points Green closing after whole day positive zone trading today. As follow up selling was seen between 10370-10384 today therefore Nifty could not sustain above 10366 and closed just above 10339-10360 at 10363.65 today which is between above mentioned levels of 10360 and 10366  

As last 2 sessions higher levels selling therefore emergence of Short Term correction possibilities and its beginning confirmation will be sustaining below 10339 which should be firstly watched tomorrow.

Watch Levels amid Rally continuation 

Intra Day Chart Analysis & Market Outlook

(30-10-2017)

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

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Technical Patterns formation in today intraday charts

1- More than 5 hours trading was with Mixed Patterns formation between 10339-10360
2- Last hour Down moves in Bullish Falling Channel
3- Whole day actual trading between 10312-10366

Conclusions from intra day chart analysis 

Rally continuation was told and it was seen also through Green opening and most time positive zone trading on 27-10-2017. 

Although last Friday closing was near the lower levels of the day but last hour Down moves were in Bullish Falling Channel and before that more than 5 hours trading was with Mixed Patterns formation between 10339-10360.  As complete selling patterns were not seen therefore view will not be Bearish because until complete selling will not develop till then decisive down moves will not be seen.

Indian markets are Bullish and last Friday like intraday correction are its part for cooling down of sentiments therefore rally continuation will be expected in the beginning of next week but follow up moves and sustaining beyond 10339-10360 should also be firstly watched for sustaining above 10366 because more than 5 hours trading was with Mixed Patterns formation within this range last Friday.

Rally continuation Expectations

Intra Day Chart Analysis & Market Outlook

(27-10-2017)

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

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Technical Patterns formation in today intraday charts

1- Consolidation between 10272-10291
2- Up moves with intraday corrections
3- Consolidation between 10298-10317
4- Sharp up
5- Whole day actual trading between 10272-10355

Conclusions from intra day chart analysis 

As whole day only consolidation patterns formations therefore rally continuation is expected in the coming sessions and until Nifty will not sustain below today lowest after complete fresh selling till then decisive down moves will not be seen.