Although going to close near the lower levels of today but same view of up moves for next week as has already been updated in previous Post-open Outlook today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Post-open Outlook(01-10-2014)
Although most time negative zone trading since opening today and now trading also in Red at this moment but today intraday trading patterns are showing consolidation patterns formations therefore emergence of up moves expectations after long holidays in next week and correction completion possibility as well.
Technical Analysis and Market Outlook(01-10-2014)
Nifty-Intra Day Chart (Sep 26 to Sep 30,2014):-
Technical Patterns and Formations in last 3 Sessions intraday charts
1- Consolidation between 7842-7910 on 26-09-2014
2- Selling between 7975-7991 on 29-09-2014
3- Selling between 8008-8030 on 30-09-2014
4- Supports between 7924-7966 on 30-09-2014
5- 3 Sessions actual trading between 7842-8030
Short Term Correction continuation for the last 16 sessions from 8180 and last 3 sessions sideways market between 7842-8030 after correction's lowest formation at 7842 on 26-09-2014. As good consolidation and supports at lower levels and equally good selling at higher levels also in last 3 sessions therefore very Short Term Trend is sideways between 7842-8030 and Nifty is not technically prepared for any side decisive moves as well as will firstly trade and prepare for next trend within this range.
As not much selling seen above 8030 therefore once valid break out of 8030 will mean fresh rally after correction completion and sustaining below 7842 will mean breaking down confirmation of 55 EMA(today at 7664),resultant steep fall after Intermediate Term Trend turning down confirmation.
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1- Consolidation between 7842-7910 on 26-09-2014
2- Selling between 7975-7991 on 29-09-2014
3- Selling between 8008-8030 on 30-09-2014
4- Supports between 7924-7966 on 30-09-2014
5- 3 Sessions actual trading between 7842-8030
Conclusions from 3 Sessions intra day chart analysis
Short Term Correction continuation for the last 16 sessions from 8180 and last 3 sessions sideways market between 7842-8030 after correction's lowest formation at 7842 on 26-09-2014. As good consolidation and supports at lower levels and equally good selling at higher levels also in last 3 sessions therefore very Short Term Trend is sideways between 7842-8030 and Nifty is not technically prepared for any side decisive moves as well as will firstly trade and prepare for next trend within this range.
As not much selling seen above 8030 therefore once valid break out of 8030 will mean fresh rally after correction completion and sustaining below 7842 will mean breaking down confirmation of 55 EMA(today at 7664),resultant steep fall after Intermediate Term Trend turning down confirmation.
Only sustaining beyond 7842-8030 should be firstly watched in the coming sessions for next trend and big decisive moves confirmations.
Mid-session Outlook(30-09-2014)
Following conclusive line was today in Post-open Outlook:-
RBI Credit policy will be announced at 11:00 AM today and market will be volatile also,sustaining beyond 7944-7991 will be next decisive move confirmation.
RBI Credit policy will be announced at 11:00 AM today and market will be volatile also,sustaining beyond 7944-7991 will be next decisive move confirmation.
Certainly volatile market and Nifty could not sustain at higher levels after follow up selling just above yesterday selling range and sustaining below 7944 will be deeper correction confirmation because consolidation was seen just above it today.
Mid-session Outlook(30-09-2014)
Although rates unchanged in RBI Credit Policy today but good consolidations today therefore emergence of correction completion expectations.
Post-open Outlook(30-09-2014)
As selling yesterday therefore it was updated yesterday in Mid-session Outlook(29-09-2014) and firstly negative zone trading seen immediately after opening today but minor support also seen between 7944-7952 today. Good selling between between 7975-7991 yesterday and until Nifty will not sustain above 7991 after complete consolidation till then next up move will not be considered.
RBI Credit policy will be announced at 11:00 AM today and market will be volatile also. It should be kept in mind that sustaining beyond 7944-7991 will be next decisive moves confirmation.
Technical Analysis and Market Outlook(30-09-2014)
Nifty-Intra Day Chart (29-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling patterns formations between 7975-7991
2- Whole day actual trading between 7935-7991
Whole day sideways trading within 56 points and some recovery from lower levels in last half hour also but good selling at higher levels today therefore Nifty will be understood sideways within last 2 sessions range(7842-7993) because both selling and consolidation between 7842-7991 seen between these 2 ranges.
Expected that Nifty will firstly prepare for next trend within 7842-7993 in the coming sessions and valid break out of this range will be on going correction continuation/completion. As good selling today therefore firstly slipping towards above mentioned next support will be seen tomorrow.
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1- Selling patterns formations between 7975-7991
2- Whole day actual trading between 7935-7991
Conclusions from intra day chart analysis
Whole day sideways trading within 56 points and some recovery from lower levels in last half hour also but good selling at higher levels today therefore Nifty will be understood sideways within last 2 sessions range(7842-7993) because both selling and consolidation between 7842-7991 seen between these 2 ranges.
Expected that Nifty will firstly prepare for next trend within 7842-7993 in the coming sessions and valid break out of this range will be on going correction continuation/completion. As good selling today therefore firstly slipping towards above mentioned next support will be seen tomorrow.
Mid-session Outlook(29-09-2014)
Selling patterns formations between 7975-7991 in sideways market today.
Pre-open Outlook(29-09-2014)
As sentiment turned weak because most Asian markets are trading in Red today morning therefore negative opening will be seen in Indian markets but good supports between 7842-7910 and until complete selling will not develop till then Nifty will not sustain below 7842. It should be kept in mind follow up consolidations and finally sustaining above 7842 will mean fresh rally after correction completion last Friday.
Technical Analysis and Market Outlook(29-09-2014)
Nifty-Intra Day Chart (26-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7842-7910
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7842-7993
As good consolidation at lower levels with down moves in Bullish Falling Channel also therefore until Nifty will not sustain below day's lowest(7842) after complete selling till then next down trend will not be considered and fresh up moves are expected in the beginning of next week. It should be kept in mind that resistances at higher levels are not much strong and possibility of new high formations after correction completion at day's lowest(7842) has turned alive on 26-09-2014.
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1- Consolidation between 7842-7910
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7842-7993
Conclusions from intra day chart analysis
As good consolidation at lower levels with down moves in Bullish Falling Channel also therefore until Nifty will not sustain below day's lowest(7842) after complete selling till then next down trend will not be considered and fresh up moves are expected in the beginning of next week. It should be kept in mind that resistances at higher levels are not much strong and possibility of new high formations after correction completion at day's lowest(7842) has turned alive on 26-09-2014.
Pre-closing Outlook(26-09-2014
As some positive signals emerged therefore it was updated within first hour today in Post-open Outlook(26-09-2014) and following lines were told:-
1- Although depressing Global cues but Indian markets outperformed
2- Certainly it ia a positive signal and confirmation of sustaining above 7918 will mean Pull Back rally
1- Although depressing Global cues but Indian markets outperformed
2- Certainly it ia a positive signal and confirmation of sustaining above 7918 will mean Pull Back rally
Strong recovery from lower levels seen after good consolidation today and firstly up moves continuation is expected in the beginning of next week.
Post-open Outlook(26-09-2014)
Although depressing Global cues but Indian markets outperformed and recovered from lower levels after weak opening as well as now trading in Green with more than .25% gains. Certainly it ia a positive signal and confirmation of sustaining above 7918 will mean Pull Back rally but on going correction completion will be considered after complete consolidations.
Technical Analysis and Market Outlook(26-09-2014)
Nifty-Intra Day Chart (25-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Minor selling
3- Whole day actual trading between 7878-8019
21 Sessions side ways market between 7918-8170 and yesterday closing just below it but as such big selling patterns were not seen in last 3 sessions and on the other hand consolidation patterns were also seen therefore correction completion possibility near about yesterday lowest(7877) and until Nifty will not sustain below 21 previous sessions lowest(7918) till then big fall will not be seen.
US markets are trading now more than 1.45 down after huge fall in European markets therefore sentiment may be subdued today morning and most likely all the Asian markets may trade will huge fall and resultant Indian markets may open also in Deep Red today. Sustaining below 7918 will confirm next big trend within next 2/3 sessions and should be watched now.
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1- Down moves in Bullish Falling Channel
2- Minor selling
3- Whole day actual trading between 7878-8019
Conclusions from intra day chart analysis
21 Sessions side ways market between 7918-8170 and yesterday closing just below it but as such big selling patterns were not seen in last 3 sessions and on the other hand consolidation patterns were also seen therefore correction completion possibility near about yesterday lowest(7877) and until Nifty will not sustain below 21 previous sessions lowest(7918) till then big fall will not be seen.
US markets are trading now more than 1.45 down after huge fall in European markets therefore sentiment may be subdued today morning and most likely all the Asian markets may trade will huge fall and resultant Indian markets may open also in Deep Red today. Sustaining below 7918 will confirm next big trend within next 2/3 sessions and should be watched now.
Mid-session Outlook(25-09-2014)
Nifty got supports between 7951-7980 yesterday and almost last 2 hours trading within this range today after slipping from higher levels. As Sep. Derivative expiry today and markets react according to its technical positions on this day therefore firstly next trend confirmations is must through sustaining beyond above mentioned support range. As selling signals are being seen today therefore view is cautious.
Technical Analysis and Market Outlook(25-09-2014)
Nifty-Intra Day Chart (24-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves but in Bullish Falling Channel
2- Support between 7951-7980
3- Whole day actual trading between 7951-8042
Following conclusions lines were told at 10:14 AM in Post-open Outlook(24-09-2014):-
1- Nifty is trading near about psychological level of 8000 today
2- firstly sustaining beyond this levels should be watched today
3- finally next big trend will be decided according to sustaining beyond 7918-8180.
Previous supports were between and Nifty got supports within this range today therefore these supports have strengthened today because consolidation pattern of Bullish Falling Channel formations just above it today:-
Most time negative zone trading with Red closing above the psychological level of 8000 at 8002.45 today but whole day down moves in Bullish Falling Channel and lower levels supports also therefore fresh up moves beginning towards 8170 is expected from tomorrow.
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1- Whole day down moves but in Bullish Falling Channel
2- Support between 7951-7980
3- Whole day actual trading between 7951-8042
Conclusions from intra day chart analysis
Following conclusions lines were told at 10:14 AM in Post-open Outlook(24-09-2014):-
1- Nifty is trading near about psychological level of 8000 today
2- firstly sustaining beyond this levels should be watched today
3- finally next big trend will be decided according to sustaining beyond 7918-8180.
Previous supports were between and Nifty got supports within this range today therefore these supports have strengthened today because consolidation pattern of Bullish Falling Channel formations just above it today:-
1- 7924-7952
2- 7856-7891
Most time negative zone trading with Red closing above the psychological level of 8000 at 8002.45 today but whole day down moves in Bullish Falling Channel and lower levels supports also therefore fresh up moves beginning towards 8170 is expected from tomorrow.
Post-open Outlook(24-09-2014)
As following news therefore market may be volatile:-
1- US attack on ISIS in Syria therefore huge fall in all Global markets yesterday.
2- coal scam judgement today at 02:00 PM today.
3- Sep. Derivative expiry tomorrow.
1- US attack on ISIS in Syria therefore huge fall in all Global markets yesterday.
2- coal scam judgement today at 02:00 PM today.
3- Sep. Derivative expiry tomorrow.
Nifty is trading near about psychological level of 8000 today and firstly sustaining beyond this levels should be watched today and finally next big trend will be decided according to sustaining beyond 7918-8180.
Technical Analysis and Market Outlook(24-09-2014)
Nifty-Intra Day Chart (23-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves but in Bullish Falling Channel
2- Whole day actual trading between 80009-8159
Down moves started immediately after opening but in Bullish Falling Channel therefore an indication of fresh rally after correction completion. Long and Intermediate Term trends are up and Short Term Trend is sideways between 7918-8180 for the last 19 sessions. Nifty is preparing for next decisive big moves within this range and next trend will get confirmation after sustaining beyond this range.
Although huge fall today but as such intraday selling patterns were not seen and Bullish Falling Channels formations also developed therefore finally rally above 8180 is still expected despite today closing near the lowest of the day.
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1- Whole day down moves but in Bullish Falling Channel
2- Whole day actual trading between 80009-8159
Conclusions from intra day chart analysis
Down moves started immediately after opening but in Bullish Falling Channel therefore an indication of fresh rally after correction completion. Long and Intermediate Term trends are up and Short Term Trend is sideways between 7918-8180 for the last 19 sessions. Nifty is preparing for next decisive big moves within this range and next trend will get confirmation after sustaining beyond this range.
Although huge fall today but as such intraday selling patterns were not seen and Bullish Falling Channels formations also developed therefore finally rally above 8180 is still expected despite today closing near the lowest of the day.
Technical Analysis and Market Outlook(23-09-2014)
Nifty-Intra Day Chart (22-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidations between 8065-8090
2- Selling at higher levels in last 1 hour between 8145-8159
3- Whole day actual trading between 8065-8159
As good selling last Friday therefore firstly Nifty slipped 55 points immediately after opening today and recovered also after consolidations but selling was seen at higher levels between last resistance range(8140-8170). Selling was seen just below last resistance range(8124-9144) last Friday and follow up selling was seen within it today also therefore last resistance range of Nifty will be understood between 8124-9170 and follow up consolidation is must for sustaining and fresh rally above 8170.
Both higher levels good selling(resistances) between 8124-9160 and equally good lower levels buying(supports) also between 8065-8090 in last 2 sessions therefore Nifty will firstly trade and prepare for next trend within 8065-8160 in the coming session. Although Nifty has faced resistance between and near about last resistance range but lower levels good consolidations yesterday and in previous week therefore finally fresh rally is still expected above all time high(7180) but firstly some down moves can not be ruled out because follow up selling in previous resistance range(8140-8170) yesterday and last Friday.
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1- Consolidations between 8065-8090
2- Selling at higher levels in last 1 hour between 8145-8159
3- Whole day actual trading between 8065-8159
Conclusions from intra day chart analysis
As good selling last Friday therefore firstly Nifty slipped 55 points immediately after opening today and recovered also after consolidations but selling was seen at higher levels between last resistance range(8140-8170). Selling was seen just below last resistance range(8124-9144) last Friday and follow up selling was seen within it today also therefore last resistance range of Nifty will be understood between 8124-9170 and follow up consolidation is must for sustaining and fresh rally above 8170.
Both higher levels good selling(resistances) between 8124-9160 and equally good lower levels buying(supports) also between 8065-8090 in last 2 sessions therefore Nifty will firstly trade and prepare for next trend within 8065-8160 in the coming session. Although Nifty has faced resistance between and near about last resistance range but lower levels good consolidations yesterday and in previous week therefore finally fresh rally is still expected above all time high(7180) but firstly some down moves can not be ruled out because follow up selling in previous resistance range(8140-8170) yesterday and last Friday.
Mid-session Outlook(22-09-2014)
Following conclusive lines were told today at 01:10 AM in previous Outlook:-
As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week.
Firstly Nifty slipped 55 points immediately after opening today and recovered after consolidations between 8065-8090. Immediate resistances are between 8124-9144 therefore following 2 ranges should be firstly watched now:-
1- 8065-8144(For next trend first 1st strong indication)
2- 7924-8170(For next big moves confirmations)
As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week.
Firstly Nifty slipped 55 points immediately after opening today and recovered after consolidations between 8065-8090. Immediate resistances are between 8124-9144 therefore following 2 ranges should be firstly watched now:-
1- 8065-8144(For next trend first 1st strong indication)
2- 7924-8170(For next big moves confirmations)
As Indian markets outperformed Global cues today therefore up sides break out possibility above 8144/8177 is more
Technical Analysis,Research & Weekly Outlook(Sep 22 to Sep 26,2014)
Nifty-Intra Day Chart (Aug 27 to Sep 19,2014):-
Technical Patterns and Formations in last 17 Sessions intraday charts:-
1- Supports between 7924-7991
2- Resistances between 8110-8170
3- 17 Sessions actual trading between 7918-8170
Conclusions from 17 Sessions intra day chart analysis
17 Sessions side ways market between 7918-8170 with higher levels selling and lower levels buying. Previous supports were between:-
1- 7924-7952
2- 7856-7891
Nifty got supports between above supports on 16th and 17th Sep and strong rally seen on 18-09-2014.
Previous resistances were between:-
1- 8090-8127
2- 8140-8170
Follow up selling seen between above resistance ranges on 19-09-2014 therefore possibility of slipping towards next supports in the beginning of next week.
Nifty-Intra Day Chart (19-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- More than 3 hours selling between 8124-9144
2- Whole day actual trading between 8106-8160
Conclusions from intra day chart analysis
As more than 3 hours selling therefore possibility of slipping below day's lowest(6106) because follow up selling seen between following previous 2 resistance ranges:-
1- 8090-8127
2- 8140-8170
When Nifty was trading at too much lower levels then following topics were posted;-
1- We told following line on 12-05-2014 in Minimum target of Nifty at 8616.90
2- We told following line on 21-10-2013 in Minimum target of Nifty at 6724.60
(Just click above topic links and understand the calculations of above targets according to Elliot Wave theory)
Long and Intermediate Term trends are up and Short Term Trend is sideways between 7924-8170 for the last 17 sessions because both lower levels supports and higher levels selling seen within this range on 19-09-2014 therefore we told following line at 02:26 PM in Mid-session Outlook-2(19-09-2014):-
As follow up supports at lower levels and follow up selling at higher levels were seen in previous week therefore both supports and resistances have been strengthened also and expected that Nifty will firstly trade and prepare for next trend within last 17 sessions trading range(7924-8170)
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1- Supports between 7924-7991
2- Resistances between 8110-8170
3- 17 Sessions actual trading between 7918-8170
Conclusions from 17 Sessions intra day chart analysis
17 Sessions side ways market between 7918-8170 with higher levels selling and lower levels buying. Previous supports were between:-
1- 7924-7952
2- 7856-7891
Nifty got supports between above supports on 16th and 17th Sep and strong rally seen on 18-09-2014.
Previous resistances were between:-
1- 8090-8127
2- 8140-8170
Follow up selling seen between above resistance ranges on 19-09-2014 therefore possibility of slipping towards next supports in the beginning of next week.
Nifty-Intra Day Chart (19-Sep-2014):-
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1- More than 3 hours selling between 8124-9144
2- Whole day actual trading between 8106-8160
Conclusions from intra day chart analysis
As more than 3 hours selling therefore possibility of slipping below day's lowest(6106) because follow up selling seen between following previous 2 resistance ranges:-
1- 8090-8127
2- 8140-8170
Conclusions (After Putting All Studies Together)
When Nifty was trading at too much lower levels then following topics were posted;-
1- We told following line on 12-05-2014 in Minimum target of Nifty at 8616.90
As per Elliot Wave theory Nifty is well set for rally towards minimum target at 8616.90.
2- We told following line on 21-10-2013 in Minimum target of Nifty at 6724.60
Nifty is well set for rally towards minimum target at 6724.60.
(Just click above topic links and understand the calculations of above targets according to Elliot Wave theory)
Long and Intermediate Term trends are up and Short Term Trend is sideways between 7924-8170 for the last 17 sessions because both lower levels supports and higher levels selling seen within this range on 19-09-2014 therefore we told following line at 02:26 PM in Mid-session Outlook-2(19-09-2014):-
last 2 hours intraday charts are showing selling indications
As follow up supports at lower levels and follow up selling at higher levels were seen in previous week therefore both supports and resistances have been strengthened also and expected that Nifty will firstly trade and prepare for next trend within last 17 sessions trading range(7924-8170)
As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week.
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