Mid-session Outlook(20-05-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(20-05-2014):-

"last 3 hours trading with Mixed Patterns between 7246-7287 therefore absence of clear trading positions and more preparations are required for next decisive moves"

As was projected yesterday same is being seen today and last 4 hours trading between almost in same range between 7246-7287 and once sustaining beyond this range will be next trend confirmation. As consolidation indications therefore emergence of fresh up moves posibility after last Friday started correction completion.

Technical Analysis and Market Outlook(20-05-2014)

Nifty-Intra Day Chart (19-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 7193-7229
2- Mixed Patterns between 7246-7287 in last 3 hours.
3- Whole day actual trading between 7193-7287

Conclusions from intra day chart analysis 

Although firstly slipping from higher levels but recovery after lower levels supports and last 3 hours trading with Mixed Patterns between 7246-7287 therefore absence of clear trading positions and more preparations are required for next decisive moves. . As lower levels supports seen today therefore first signal of correction completion  and once sustaining above today highest(7287) will mean rally continuation towards 7563 after last Friday started very Short Term correction completion.

Sideways Market between 7082-7563

Technical Analysis,Research & Weekly Outlook

(May 19 to May 23,2014)

Nifty-EOD Chart (16-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-i of Wave-3(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation with new highest formation at 7563.50 on 16-05-2014

Nifty-Intra Day Chart (16-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- We sold our Call Options with more than 100 points Profit at the top of the day at 09:55 AM on Election Results like volatile day
2- Selling between 7450-7563
3- Selling between 7358-7432
4- Last 2 hours trading with mixed patterns between 7131-7265.
5- Whole day actual trading between 7131-7563

Conclusions (After Putting All Studies Together)

Although strong recovery with BJP winning Election Results on 16-05-2014 but when market was most Bullish then we understood from intraday patterns formations that market will reverse from here therefore we Booked more than 100 points Profit in our Call Option Buying call. Call Options buying call with Guidance and Profit Booking message are as follows:-

1- Profit Booking at 09:55 AM on on 16-05-2014:- NIFTY-May CE(7500)-Bought on 15-05-2014-Cover and book profit immediately-CMP-205(Lalit39) 
2- Guidance posted at 07:39 AM on on 16-05-2014:- NIFTY-May CE(7500)-Bought on 15-05-2014-Market will be volatile but finally rally is expected therefore just hold & cover after my covering message(Lalit39) 
3- Call posted at 03:28 PM on on 15-05-2014:- NIFTY-May CE(7500)-Buy-Positional-SL-74 & TGT-154-CMP-104(Lalit39)

(As we talk with those proofs which no one can deny therefore just click above topic links and verify live Proofs on yours own)

Nifty closed 79.85 points up but Call Options closed 11% to 57% down on 16-05-2014 because many Option traders bought both calls and Puts in expectation of any side 10% Circuit after Election Results but market reacts against the expectation of Small traders therefore  both calls and Puts Options strategy failed on Election results day. Always keep in mind that markets react against general expectations and therefore a trader must be master of mass psychology.

Although BJP victory expectations strengthened every minute on 16-05-2014 but most volatile day and Indian markets closed little above the lowest of the day because profit booking started immediately after opening amid most heated sentiments. Nifty was volatile within huge 432 points after higher levels good selling therefore complete consolidation is firstly required for decisive up moves above 7563. As good support seen above 7082 and good selling also below 7563 in last 4 sessions therefore expected that Nifty will remain sideways and prepare for next moves between 7082-7563 and finally rally will remain continued after follow up consolidation in the coming sessions.

All trends are up and Wave-iii of Wave-3 continuation with new highest formation at 7563.50 on 16-05-2014. Although slipping after panic top formation after victory signals of BJP but closing also at all time high and no damage to Bullish technical formations. As Bearish Shooting Star Candle formation in both Daily and Weekly Chart on 16-05-2014 therefore follow up moves and valid break out following supports/resistances should be firstly watched for next immediate trend confirmations.

1- Supports between 7082-7102
2- Resistances between 7358-7432
3- Resistances between 7450-7563


Bullish market Wave-iii of Wave-3 continuation towards those higher levels which can not be easily imagined at this moment because minimum 6 waves are still left. Just click following Topic link for those minimum 6 Waves and calculation of next minimum target of Nifty:-

Minimum target of Nifty at 8616.90

Although Nifty formed new all time high at 7563.50 on 16-05-2014 but  we told non stop again and again daily only and only for Rally and up moves in all the 25 Outlooks since 02-05-2014. Just click following topic link and understand the strength of supports prepare yourself for trading in the coming sessions:-

25 Accurate Predictions of Nifty Rally on 16-05-2014 with Proofs

As huge range of 481 points(7082-7563) in which Nifty has to trade and prepare for next decisive moves therefore volatility may be high. Although finally rally continuation is expected above 7563 but oscillators are overbought and sentiment is over heated after Modi victory therefore Short Term correction possibility can not be ruled out but follow up selling with sustaining below 7082 is must otherwise at present Nifty will be understood sideways between 7082-7563 and sustaining it beyond will be next immediate Trend confirmation.

25 Accurate Predictions of Nifty Rally on 16-05-2014 with Proofs

 Nifty formed new all time high formation with closing at all time high at  7563.50 on 16-05-2014 but we told non stop again and again daily only and only for Rally and up moves in all the 25 Outlooks since 02-05-2014. As we always talk with those proofs which no one can deny therefore just click following topic links and verify this fact on yours own:- 

1-  In Strong Rally & New All Time High on 16-05-2014:- finally rally continuation with new high formations will be seen tomorrow
2- In Mid-session Outlook(15-05-2014):- fresh rally is expected above 7152
3- In Post-open Outlook(15-05-2014):-finally rally is expected after Election results tomorrow
4- In Technical Analysis and Market Outlook(15-05-2014):- finally rally will be seen in the coming 2/3 sessions
5- In Pre-closing Outlook(14-05-2014):- finally rally will remain continued
6- In Mid-session Outlook(14-05-2014):- finally rally will remain continued
7- In Technical Analysis and Market Outlook(14-05-2014):- finally rally will remain continued after 1/2 sessions consolidation
8- In Technical Analysis and Market Outlook(13-05-2014):- rally continuation is expected after huge gap up opening tomorrow
9- In Pre-closing Outlook(12-05-2014):- Indian markets are  technically poised for more up moves/Rally10- In Technical Analysis and Market Outlook(09-05-2014):- expected that finally Rally/up moves will be seen in the coming sessions.
11- In Pre-closing Outlook(08-05-2014):- same Bullish views is maintained which is being continuously updated for the last 4 sessions.
12- In Post-open Outlook(08-05-2014):- last 5 sessions intraday patterns are showing consolidation patterns therefore it seems that consolidation process is on and finally Rally/up moves will be on 13 may/16 May.

13- Technical Analysis and Market Outlook(08-05-2014) :- last 4 sessions intraday charts showed consolidation patterns formations therefore finally Rally/up moves are expected in the coming sessions.

14- Pre-closing Outlook(07-05-2014):- finally Rally/up moves are expected in the coming sessions

15- Mid-session Outlook(07-05-2014):- finally Rally/up moves are expected.
16- Post-open Outlook(07-05-2014):- finally Rally/up moves are expected
17- Technical Analysis and Market Outlook(07-05-2014):-finally Rally/up moves are expected
18- Mid-session Outlook(06-05-2014):- Bullish expectations was told in all the previous Outlooks and same view today also
19-  Technical Analysis and Market Outlook(06-05-2014) - Certainly up moves expectation are alive after correction completion within last 21 sessions range

20- Mid-session Outlook(05-05-2014):- Certainly up moves expectation are alive after correction completion within last 20 sessions range

21- Technical Analysis,Research & Weekly Outlook(May 05 to May 09,2014):- Finally Rally/up moves will be seen in next week

22- Pre-closing Outlook(02-05-2014):- Although Nifty is going to close flat after whole day down moves but rally will be seen in next week

23- Mid-session Outlook-2(02-05-2014):- finally up moves are expected in next week despite now trading flat after loosing all intraday gains

24- Mid-session Outlook(02-05-2014):-intraday charts are showing consolidation patterns indications therefore emergence of fresh up moves expectations

25- Technical Analysis and Market Outlook(02-05-2014):-Finally expected that Nifty will not sustain below 6651 and up moves will be seen after follow up consolidation in the coming sessions.

All Outlooks of last 2 weeks proved 100% Accurate

Whatsoever happened in the Indian Stock markets on 16-05-2014,all that was updated in all the Outlooks of last 2 weeks. Anyone can verify this fact from the Home page and Archive at the bottom of our this Blog.

NIFTY-May Call Option(7500)-Positional Buying of 15-05-2014-Message

NIFTY-May CE(7500)-Bought on 15-05-2014-We covered near the top of the day at 205 and now this call is trading at 120

NIFTY-May Call Option(7500)-Positional Buying of 15-05-2014-Covering

NIFTY-May CE(7500)-Bought on 15-05-2014-Cover and book profit immediately-CMP-205(Lalit39)

NIFTY-May Call Option(7500)-Positional Buying of 15-05-2014-Message

NIFTY-May CE(7500)-Bought on 15-05-2014-Market will be volatile but finally rally is expected therefore just hold & cover after my covering message(Lalit39)

Strong Rally & New All Time High on 16-05-2014

Technical Analysis and Market Outlook(16-05-2014)

Nifty-Intra Day Chart (May 13 to May 15,2014):-

Just click on chart for its enlarged view

 Technical Patterns and Formations in last 3 Sessions intraday charts

1- Most time trading trading between 7082-7131 in last 3 sessions.

Conclusions from 3 Sessions intra day chart analysis 

Gap up opening on 13th May after Exit Poll results on 12th May and after that last 3 sessions most time trading between 7082-7131. As consolidation patterns formations within this range in last 2 sessions therefore same  rally continuation view which has already been updated in all the previous Outlooks of last 2 sessions.

Nifty-Intra Day Chart (15-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down Moves in Bullish Falling Channel
2- Support between 7082-7100
3- Support between 7082-7102
4- Most time trading trading between 7082-7134
5- Whole day actual trading between 7082-7152

Conclusions from intra day chart analysis 

Most time trading trading between 7082-7134 with lower levels good supports and consolidation therefore expected that finally rally will be seen above 7134. 

Conclusions (After Putting both charts Together)

Although some selling was seen between 7148-7172 on 13-05-2014 but most time trading trading between 7082-7131 with good consolidations in last 3 sessions also therefore technically Indian markets are well set for fresh up moves and finally rally continuation with new high formations will be seen tomorrow. 

NIFTY-May Call Option(7500)-Positional-Buying Trade

NIFTY-May CE(7500)-Buy-Positional-SL-74 & TGT-154-CMP-104(Lalit39)

Mid-session Outlook(15-05-2014)

Importance of following 2 ranges was told in previous 3 Outlooks of yesterday and today:-

1- 7082-7131
2- 7082-7152

Today lowest is at 7082.55 and consolidation seen above 7082 today and yesterday,until Nifty will not sustain below 7082 till then next down moves will not be considered and valid break out above 7152 will mean fresh rally.

As consolidation above 7082 therefore fresh rally is expected above 7152.

Post-open Outlook(15-05-2014)

Following conclusive line was told yesterday in Technical Analysis and Market Outlook(15-05-2014):-

sustaining above 7131 will be correction completion and rally continuation confirmation.

Nifty moved above 7131 but could not sustain above and slip below it and traded at 6107. Expected that Nifty will trade and prepare for tomorrow moves between 7082-7152 and valid break out of this range will be first strong signal of post Election results next immediate trend in Indian markets.

As consolidation yesterday therefore finally rally is expected after Election results tomorrow.

Technical Analysis and Market Outlook(15-05-2014)

Nifty-Intra Day Chart (14-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Firstly higher levels minor selling.
2- Down Moves in Bullish Falling Channel between 10:00 AM and 01:45 PM 
3- Most time trading between 7087-7121
3- Whole day actual trading between 7080-7142

Conclusions from intra day chart analysis 

Firstly higher levels minor selling but after that almost 4 hours Down Moves in Bullish Falling Channel which is consolidation pattern therefore rally continuation hopes are alive. Nifty traded last 3 hours between 7082-7131 yesterday and most time trading between this range today with some consolidation pattern formation within this range therefore expected that this range will be broken out and sustaining above 7131 will be correction completion and rally continuation confirmation.

As Exit Pools are showing Modi victory possibility and much heated sentiment therefore complete consolidation is required and panic bottom formation possibility should be kept in mind but much deeper correction is not expected and consolidation will be seen above 7020. 

Expected that finally rally will be seen in the coming 2/3 sessions 

Pre-closing Outlook(14-05-2014)

Nifty traded last 3 hours trading between 7082-7131 yesterday and most time trading between this range today with some follow up selling at higher levels but consolidation pattern of Down Moves in Bullish Falling Channel also seen between 10:00 AM and 01:45 PM today therefore finally rally will remain continued. As much heated sentiment and complete consolidation is required without much deeper correction therefore consolidation will be seen above 7020. 

Mid-session Outlook(14-05-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(14-05-2014);-

1- very Short Term Correction will be considered at this moment.
2- intraday volatility with panic bottom formation can not be ruled out
3- finally rally will remain continued after 1/2 sessions consolidation

As very Short Term Correction continuation therefore Nifty moved down after some follow up selling at higher levels today also and some more down moves can not be ruled out. Although selling at higher levels today and yesterday but expected that fresh consolidation will be seen above 7020 and finally rally will remain continued.

Technical Analysis and Market Outlook(14-05-2014)

Nifty-Intra Day Chart (13-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling between 7148-7172
3- Down Moves in Bullish Falling Channel
4- Last 3 hours trading between 7082-7131
5- Whole day actual trading between 7068-7172

Conclusions from intra day chart analysis 

volatility after minor profit booking was told at 09:25 AM today in Post-open Outlook and it was seen after Bearish Rising Channel formation and higher levels selling. Although intraday correction today but Down Moves in Bullish Falling Channel therefore emergence of consolidation pattern also and only very Short Term Correction will be considered at this moment.

As sentiment is too much heated after Modi victory possibility in Exit Polls therefore deeper correction will not be considered at this moment but intraday volatility with panic bottom formation can not be ruled out. Expected that finally rally will remain continued after 1/2 sessions consolidation and sustaining beyond following ranges should be firstly watched for today started correction completion.

1- Today trading range(7068-7172)
2- Today gap(7020-7068)

Mid-session Outlook(13-05-2014)

Although Nifty opened 55 points gap up but not much strong therefore volatility after minor profit booking was told at 09:25 AM today in Post-open Outlook and it is being seen before Nifty slipping 75 points from higher levels of today. At present this 75 points down moves will be understood only intraday correction and fresh up moves will be expected after ites completion. Let some intraday consolidation and supports develop then fresh rally will be seen and firstly sustaining beyond 7080 should be watched.

Post-open Outlook(13-05-2014)

Gap up opening but not much strong therefore volatility is possible after minor profit booking.

Technical Analysis and Market Outlook(13-05-2014)

Nifty-Intra Day Chart (12-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 6920-6954
2- Consolidation between 6960-6980
3- Whole day actual trading between 6916-7020

Conclusions from intra day chart analysis 

Firstly sharp 70 points up in first 2 minutes and after that consolidation as well as closing at the highest of the day therefore Indian markets are technically poised for more up moves/Rally. As Exit Polls are showing clear victory for Modi therefore rally continuation is expected after huge gap up opening tomorrow.

Pre-closing Outlook(12-05-2014)

Following line was told today at 08:47 AM in Minimum target of Nifty at 8616.90

25 sessions range will be broken out with more than 10% to 20% rally in next week

Now Nifty is trading 2% up and rally continuation is still expected because selling patterns not seen today but huge volatility can not be ruled out because any news,confusion or doubt regarding Modi victory may hamper sentiment. As today intraday patterns are showing consolidation therefore Indian markets are  technically poised for more up moves/Rally.

Minimum target of Nifty at 8616.90

Technical Analysis,Research & Weekly Outlook(May 12 to May 16,2014)

Nifty-Weekly Chart (09-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in Weekly charts

1- 6357.10 on 08-01-2008(All time high formation and correction beginning)
2- 2252.75 on 27-10-2008(Wave-1 begining after 2008 correction completion)
3- 6338.50 on 05-11-2010(Wave-5 completion and Corrective begining)
4- 4531.15 on 20-12-2011(Wave-3 beginning after 13 Months Wave-2 correction completion)
5- 6111.80 on 29-01-2013(Wave-5 completion and Corrective begining)
6- 5118.85 on 28-08-2013(Wave-1 beginning after ABC correction completion)
7- New highest formation at 6871.35 on 09-05-2014
8- Impulsive Wave-I beginning(2252.75 on 27-10-2008)
9- Impulsive Wave-I completion and corrective Wave-II beginning(6338.50 on 05-11-2010)
10- Corrective Wave-II completion and impulsive Wave-III beginning(4531.15 on 20-12-2011)
11- Impulsive Wave-III is on

Nifty-EOD Chart (09-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-i of Wave-3(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation with new highest formation at 6871.35 on 09-05-2014

Nifty-EOD Chart (09-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-iii of Wave-3 beginning(5933.30 on 04-02-2014) 
2- 5th Wave continuation with all time high formation at 6869.85 on 25-04-2014
3- 25 sessions sideways market between 6639-6871
4- New all time high formation at 6871.35 on 09-05-2014. 

Conclusions (After Putting All Indicators Together)

All trends are up and new highest formation at 6871.35 on 09-05-2014 but when Nifty was trading at much lower levels then Following line was told on 21-10-2013 in Minimum target of Nifty at 6724.60

Nifty is well set for rally towards minimum target at 6724.60. 

Now next minimum target of Nifty is at 8524.60 and its calculations are as follows:-

As per Elliot Wave theory "Wave-3 should not be shorter than both Wave-1 and Wave-5. Impulsive Wave-III is on and it should gain more points than Wave-I gained.

Wave-I gained 6338.50-2252.75=4085.75

Wave-III started from 4531.15 and and as per Elliot Wave theory it should gain minimum 4085.75 because it can not be shorter than Wave-I therefore its minimum target is at:-

4531.15(Wave-III started)+4085.75 Wave-1 gained=8616.90

As per Elliot Wave theory Nifty is well set for rally towards minimum target at 8616.90. 

Bullish market Wave-iii of Wave-3 continuation towards those higher levels which can not be easily imagined at this moment because following minimum waves are still left:-

1- Wave-iii of Wave-3 continuation and no signal of its termination yet.
2- Corrective Wave-iv of Wave-3 will start after on going Wave completion and this corrective will correct whole that up move which started from 5933.30.
3- Impulsive Wave-v of Wave-3 will start after previous corrective wave completion and this Wave will form new high above the top of Wave-iii of Wave-3. It should also be kept in mind that Wave-iii of Wave-3 top formations confirmation has not been seen yet.
4- Wave-v of Wave-3 completion will mean termination of Wave-3 and corrective Wave-4 beginning. 
5- Corrective Wave-4 will correct whole up moves which started from 5700.95.
6- Impulsive Wave-5 will start towards new top formation above the top of Wave-3.

Although Indian markets formed new all time high formation with closing at all time high on 09-05-2014 but still Nifty will understood sideways between 6639-6871 for the last 25 sessions and same forceful rally or huge gap up opening is required for valid break out 25 sessions range. It is very much clear that such strong rally will be seen immediately after the confirmation of Modi becoming P.M. of India and also 

expected that Modi will become Prime Minister of India and 25 sessions range will be broken out with more than 10% to 20% rally in next week.

As soon as Nifty started to consolidate from 02-05-2014 then we started to tell for that not sustaining below 6651 and that Rally which was seen on 09-05-2014. Just click following topic link and verify on your own:-

16 Accurate Predictions of Rally on 09-05-2014 with Proofs

16 Accurate Predictions of Rally on 09-05-2014 with Proofs

 Nifty formed new all time high formation with closing at all time high on 09-05-2014 but finally Rally/up moves were non stop daily told in all the 16 Outlooks since 02-05-2014. As we always talk with those proofs which no one can deny therefore just click following topic links and verify this fact on yours own:- 

1- In Technical Analysis and Market Outlook(09-05-2014):- expected that finally Rally/up moves will be seen in the coming sessions.
2- In Pre-closing Outlook(08-05-2014):- same Bullish views is maintained which is being continuously updated for the last 4 sessions.
3- In Post-open Outlook(08-05-2014):- last 5 sessions intraday patterns are showing consolidation patterns therefore it seems that consolidation process is on and finally Rally/up moves will be on 13 may/16 May.

4- Technical Analysis and Market Outlook(08-05-2014) :- last 4 sessions intraday charts showed consolidation patterns formations therefore finally Rally/up moves are expected in the coming sessions.

5- Pre-closing Outlook(07-05-2014):- finally Rally/up moves are expected in the coming sessions

6- Mid-session Outlook(07-05-2014):- finally Rally/up moves are expected.
7- Post-open Outlook(07-05-2014):- finally Rally/up moves are expected
8- Technical Analysis and Market Outlook(07-05-2014):-finally Rally/up moves are expected
9- Mid-session Outlook(06-05-2014):- Bullish expectations was told in all the previous Outlooks and same view today also
10-  Technical Analysis and Market Outlook(06-05-2014) - Certainly up moves expectation are alive after correction completion within last 21 sessions range

11- Mid-session Outlook(05-05-2014):- Certainly up moves expectation are alive after correction completion within last 20 sessions range

12- Technical Analysis,Research & Weekly Outlook(May 05 to May 09,2014):- Finally Rally/up moves will be seen in next week

13- Pre-closing Outlook(02-05-2014):- Although Nifty is going to close flat after whole day down moves but rally will be seen in next week

14- Mid-session Outlook-2(02-05-2014):- finally up moves are expected in next week despite now trading flat after loosing all intraday gains

15- Mid-session Outlook(02-05-2014):-intraday charts are showing consolidation patterns indications therefore emergence of fresh up moves expectations

16- Technical Analysis and Market Outlook(02-05-2014):-Finally expected that Nifty will not sustain below 6651 and up moves will be seen after follow up consolidation in the coming sessions.

Mid-session Outlook(09-05-2014)

Following conclusions were updated in last 16 Outlooks:-

1- finally Rally/up moves will be seen in the coming sessions.
2- Nifty will not sustain below 6651 
3- correction completion possibility is still alive within sideways market between 6651-6861.

As was repeated again and again in last 1 week same happened today and strong 187 points rally seen today. Now Nifty is trading within last resistance range(6840-6857) and expected that Nifty will cross it and today started rally will remain continued in the coming sessions.

Technical Analysis and Market Outlook(09-05-2014)

Nifty-Intra Day Chart (08-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down Moves in Bullish Falling Channel
2- Last more than 3 hours trading between 6639-6660 with consolidation indications.
3- Whole day actual trading between 6639-6688.

Conclusions from intra day chart analysis 

Following lines were told at 07:26 AM on 05-05-2014 in Technical Analysis,Research & Weekly Outlook(May 05 to May 09,2014):-

1- Nifty may slip also below 20 sessions lowest (6651)
2- deeper correction will be considered after forcefully breaking down or sustaining below 6651

As was projected same happened and Nifty slipped below 6651 in last 2 sessions but without force and closed above 6651 in both sessions therefore no confirmation of sideways range breaking down yet. Although down moves and closing little above lower levels today and last 5 sessions also closed near the lower levels of the day but intraday charts of last 6 sessions are showing consolidation patterns formations therefore emergence of correction completion possibility and expected that finally Rally/up moves will be seen in the coming sessions.

Pre-closing Outlook(08-05-2014)

Firstly down moves in Bullish falling Channel and after that more than 3 hours trading between 6639-6660 with consolidation indications therefore same Bullish views is maintained which is being continuously updated for the last 4 sessions.

Post-open Outlook(08-05-2014)

As news of some what under performance by BJP in last 2 phases of Election because emergence of Laloo Yadav in Bihar and Poll rigging therefore market is not sustaining at higher levels and trading near the lowest of last 23 sessions range(6651-6861). Some confusion and nervousness is being seen regarding NDA victory therefore slipping and closing below 6651 can not be ruled out but last 5 sessions intraday patterns are showing consolidation patterns therefore it seems that consolidation process is on and finally Rally/up moves will be on 13 may/16 May.

Technical Analysis and Market Outlook(08-05-2014)

Nifty-Intra Day Chart (07-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down Moves in Bullish Falling Channel
2- Whole day actual trading between 6643-6718

Conclusions from intra day chart analysis 

Following lines were told at 07:26 AM on 05-05-2014 in Technical Analysis,Research & Weekly Outlook(May 05 to May 09,2014)

Correction is on and coming week may be full of Parliamentary Election news flow therefore some volatility can not be ruled out and Nifty may slip also below 20 sessions lowest (6651) but deeper correction will be considered after forcefully breaking down or sustaining below 6651

 Following lines were told at 12:29 AM on 07-05-2014 in Technical Analysis and Market Outlook(07-05-2014)

As US markets are .65% to 1.10% down at this moment and such weaker closing may result weakening of Asian markets but sustaining below 6651 is not expected and finally Rally/up moves are expected.

Indian markets did not moved down forcefully amid depressed sentiments and down moves were in Bullish Falling Channel therefore today trading will be understood a part of consolidation despite Nifty slipped below the lowest of last 23 sessions range(6651-6861). 

As Nifty closed above 6651 at 6652.55 therefore no confirmation of sideways range breaking down today. Although down moves but today and last 4 sessions intraday charts showed consolidation patterns formations therefore finally Rally/up moves are expected in the coming sessions.

Pre-closing Outlook(07-05-2014)

Following lines were told at 07:26 AM on 05-05-2014 in Technical Analysis,Research & Weekly Outlook(May 05 to May 09,2014)

Correction is on and coming week may be full of Parliamentary Election news flow therefore some volatility can not be ruled out and Nifty may slip also below 20 sessions lowest (6651) but deeper correction will be considered after forcefully breaking down or sustaining below 6651

 Following lines were told at 12:29 AM on 07-05-2014 in Technical Analysis and Market Outlook(07-05-2014)

As US markets are .65% to 1.10% down at this moment and such weaker closing may result weakening of Asian markets but sustaining below 6651 is not expected and finally Rally/up moves are expected.

As was suspected same happened and Nifty slipped below 6651 but today intraday patterns are showing consolidation patterns formation and last 4 sessions also showed consolidation patterns therefore finally Rally/up moves are expected in the coming sessions.

Mid-session Outlook(07-05-2014)

Indian markets have moved into consolidation phase and result will be seen on 13 May and 16 May. Although Nifty moves down after opening but selling patterns not seen and some indications of cosolidation also therefore finally Rally/up moves are expected.

Post-open Outlook(07-05-2014)

As all the Global markets are in Red and some are more than 1% down but Indian markets are flat to negative since opening today therefore completely out performing Global cues and finally Rally/up moves are expected.

Technical Analysis and Market Outlook(07-05-2014)

Nifty-Intra Day Chart (06-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- First 4 hours Down Moves in Bullish Falling Channel.
2- Support between 6701-6712
3- Whole day actual trading between 6701-6743

Conclusions from intra day chart analysis 

Positive opening and first 4 hours down moves but in Bullish Falling Channel as well as lower levels supports therefore Bullish view is still maintained. It should be kept in mind that correction is on and Nifty may slip also below 22 sessions lowest (6651) in this process but deeper correction will be considered after forcefully breaking down or sustaining below 6651 after complete follow up selling. As consolidation was seen in previous 4 sessions above 6651 therefore up moves expectations are very much alive. 

As US markets are .65% to 1.10% down at this moment and such weaker closing may result weakening of Asian markets but sustaining below 6651 is not expected and finally Rally/up moves are expected.

Mid-session Outlook(06-05-2014)

Only sideways market with Bullish expectations was told in all the previous Outlooks and same view today also despite whole day slipping from higher levels and now trading little above today lowest because first 4 hours down moves are showing Bullish Falling Channel pattern.

Technical Analysis and Market Outlook(06-05-2014)

Nifty-Intra Day Chart (05-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6724-6740
2- All Down Moves in Bullish Falling Channel
3- Whole day actual trading between 6680-6740

Conclusions from intra day chart analysis

Although higher levels selling and closing near the lower levels of the day but all down moves in Bullish Falling Channel therefore view will not Bearish because Indian markets out performed Asian and European markets also. As Bullish Falling Channel is consolidation pattern and all down moves showed this formation therefore correction completion possibility is still alive within sideways market between 6651-6861.

Certainly up moves expectation are alive after correction completion within last 21 sessions range and next decisive moves first signal will be valid break out of 6651-6786.

Mid-session Outlook(05-05-2014)

Following line was told in Pre-closing Outlook on 02-05-2014:-

Although Nifty is going to close flat after whole day down moves but rally will be seen in next week.

As was told same happened and most time positive zone trading today despite depressed sentiment due to weaker Asian markets today morning. It means out performance by Indian markets and signal of strength also after last 2 sessions good consolidation. Good selling at higher levels in the beginning of last week and lot of consolidation is required for fresh rally which will take its own complete time. 

Certainly up moves expectation are alive after correction completion within last 20 sessions range and next decisive moves first signal will be valid break out of 6685-6786.

Technical Analysis,Research & Weekly Outlook(May 05 to May 09,2014)

Nifty-EOD Chart (02-May-2014):-

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Technical Patterns and Formations in EOD charts

1- Wave-iii of Wave-3 beginning(5933.30 on 04-02-2014) 
2- 5th Wave continuation with all time high formation at 6869.85 on 25-04-2014
3- 20 sessions sideways market between 6651-6861

Conclusions from EOD chart analysis 

Although new all time high formation on 25-04-2014 but following line was told at 01:11:00 AM on 28-04-2014 in Technical Analysis,Research & Weekly Outlook(Apr 28 to May 02,2014):-

1- correction is very much due. As Bearish Rising Wedge formation in last 13 sessions therefore emergence of correction possibility
2- Indian markets are highly Bullish and many times such markets correct time wise in side ways moves and not price wise therefore possibility of side ways market trading range is 6651-6861

Correction was told and all the trading sessions of previous week were closed in Red and side ways market was told between 6651-6861 and Nifty traded between 6656-6786 in previous week.

Long Term trend is up,Short term is down and Intermediate term is sideways between 6651-6861 for the last 20 sessions. Although Impulsive Wave-iii of Wave-3 continuation but its correction was also seen in previous week and length of this correction will be decided through sustaining beyond previous 20 sessions trading range(6651-6861):-

1- Sustaining below 6651 will mean deeper correction and Nifty will correct whole up move which started from 5933.30 because that will be confirmation of 5th sub-wave completion of on going rally.
2- Sustaining above 6861 will mean rally continuation after correction completion within more than 20 sessions sideways market between 6651-6861 

Nifty-Intra Day Chart (02-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channel.
3- Whole day actual trading between 6689-6737

Conclusions from intra day chart analysis 

Although positive opening but flat closing after whole day down moves in Bullish Falling Channel which is consolidation pattern as well therefore finally rally is expected in next week after follow up consolidation.

Conclusions (After Putting All Studies Together)

Next resistances and suppoers are as follows:-

1- Resistances between 6841-6861
2- Resistances between 6818-6836
3- Resistances between 6738-6786
4- Supports between 6685-6725
5- Supports between 6651-6680

Although all session of previous week closed in Red but following consolidation was also seen:-

1- Firstly down moves in Bullish Falling Channel and after that good recovery from lower levels on 30-04-2014 
2- Whole day Bullish Falling Channel formation on 02-05-2014 
3- Nifty could not slip below the lowest(6651) of last 20 sessions

As good consolidation seen in last 2 sessions within following previous supports have been strengthened:-

1- Supports between 6685-6703
2- Supports between 6651-6671

Correction is on and coming week may be full of Parliamentary Election news flow therefore some volatility can not be ruled out and Nifty may slip also below 20 sessions lowest (6651) but deeper correction will be considered after forcefully breaking down or sustaining below 6651 because above mentioned consolidation was also seen in previous 2 sessions above 6651 and following conclusive will be repeated which was told in previous 2 Outlooks last Friday:- 

Finally Rally/up moves will be seen in next week.

Pre-closing Outlook(02-05-2014)

Although Nifty is going to close flat after whole day down moves but rally will be seen in next week.

Mid-session Outlook-2(02-05-2014)

Although whole day slipping from higher levels but today intraday charts are showing consolidation pattern of Bullish Falling Channel therefore finally up moves are expected in next week despite now trading flat after loosing all intraday gains.

Mid-session Outlook(02-05-2014)

Although slipping from higher levels after positive opening but today intraday charts are showing consolidation patterns indications therefore emergence of fresh up moves expectations. As good resistances are between  6747-6785 therefore complete consolidation is required between 6651-6785 for decisive rally above 6785. 

Technical Analysis and Market Outlook(02-05-2014)

Nifty-Intra Day Chart (30-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6747-6780
2- Consolidation between 6656-6686
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 6656-6780 

Conclusions from intra day chart analysis 

Firstly sharp up immediately after opening and selling at higher levels but after that down moves in Bullish Falling Channel and lower levels good supports above 6651 as well therefore still Indian markets will be understood sideways between 6651-6861 despite more than 100 points slipping from higher levels and Red zone closing.

19 sessions market between 6651-6861 and following support was posted many times in previous Outlook:-

Supports between 6651-6671

As Nifty reversed from 6656.80 after follow up consolidation within mentioned support range on 30-04-2014 therefore previous support strengthened and until Nifty will not sustain below 6651 till then any deeper correction will not be considered. Firstly Nifty will remain sideways between 6656-6780 tomorrow and prepare for next trend/decisive moves after Parliament Election results. Finally expected that Nifty will not sustain below 6651 and up moves will be seen after follow up consolidation in the coming sessions.

Pre-closing Outlook(30-04-2014)

Although strong recovery immediately after opening today but we told for confirmation through sustaining above 6765 in both previous Outlooks and Nifty could not sustain above 6765 as well as slipped more tahn 100 points but until Nifty will not sustain below 6650 till then deeper correction will not be considered.

Indian Markets towards next Huge Moves

Mid-session Outlook(30-04-2014)

Indian markets are not trending and sideways as well as preparing for next direction or may be very big moves beyond 6651-6861. 3 Sessions(including today) trading between 5709-5786 with following trading patterns:- 

1- Consolidation between 6750-6765 on 28-04-2014 but sharp down moves below it on  29-04-2014 
2- Selling between 6738-6760 on  29-04-2014 but sharp up moves above it today 

18 Sessions trading between 6651-6861 with good supports at lower levels and equally good selling also at higher levels within this range. Expected that Nifty will prepare within this range for next decisive trend between 6651-6861 and forceful break out of this range will be seen on following dates:-

1- On 13-05-2014- After Exit Poll results on 12 May evening.
2- On 16-05-2014- After election results.

Let Nifty prepare for next decisive huge moves beyond 6651-6861 then will be updated according to intraday charts patterns formation in the same manner as being done for the last more than 5 years.

Today sharp up move is also 1st strong signal of fresh rally beginning but confirmation is must through sustaining above 6765/6780.

Post-open Outlook(30-04-2014)

Strong recovery from lower levels and Indian markets are out performing Asian markets as well. Although good consolidation was seen between 6750-6765 on 28-04-2014 but fast down moves below it were seen yesterday. Now Nifty is trading between 6750-6765 and once sustaining above 6765 will mean rally continuation toward 6861 and still sideways market will be understood between 6651-6861.

Technical Analysis and Market Outlook(30-04-2014)

Nifty-Intra Day Chart (29-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Almost whole day trading between 6720-6760
2- Selling between 6738-6760
3- Whole day actual trading between 6709-6776

Conclusions from intra day chart analysis 

Correction continuation and today closing near the lowest of the day after higher levels selling amid almost whole day side ways trading between 6720-6760. As good supports just below today lowest therefore complete follow up selling is required for decisive down moves below 6651 and once sustaining below it will mean deeper correction.

Following lines should be kept in mind for next trend confirmation which were told at 01:11:00 AM on 28-04-2014 in Technical Analysis,Research & Weekly Outlook(Apr 28 to May 02,2014):-

All trends are up and impulsive Wave-iii of Wave-3 continuation but oscillators are showing negative divergence in overbought zone therefore correction is very much due. As Bearish Rising Wedge formation in last 13 sessions therefore emergence of correction possibility and next supports/resistances are as follows:-

1- Resistances between 6841-6861
2- Resistances between 6818-6836
3- Supports between 6720-6740
4- Supports between 6685-6703
5- Supports between 6651-6671

Indian markets are highly Bullish and many times such markets correct time wise in side ways moves and not price wise therefore possibility of side ways market trading range is 6651-6861 and:-

1- Sustaining below 6651 will be deeper correction confirmation because Bearish Rising Wedge formation in last 13 sessions.
2- Sustaining above 6861 will be fresh rally beginning after Short Term Correction confirmation.

Pre-closing Outlook(29-04-2014)

As heavy selling developed immediately after opening therefore next supports were updated at 09:37:00 AM in previous Outlook and Nifty got support between 1st support range and some recovery also seen but follow up selling was also seen above 6740.

Following line was told at 01:11:00 AM on 28-04-2014 in Technical Analysis,Research & Weekly Outlook(Apr 28 to May 02,2014)

As Bearish Rising Wedge formation in last 13 sessions therefore emergence of correction possibility

As some selling was also seen today therefore some more down moves can not be ruled out and finally sustaining beyond 6651 should be watched for deeper correction continuation / correction completion.

Post-open Outlook-2(29-04-2014)

Heavy selling immediately after opening today and following supports should be watched now:-

1- Supports between 6720-6740
2- Supports between 6685-6703
3- Supports between 6651-6671

Post-open Outlook(29-04-2014)

Selling developed immediately after opening today.

Technical Analysis and Market Outlook(29-04-2014)

Nifty-Intra Day Chart (28-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6750-6765 
2- Multiple 6 supports at lower levels.
3- Higher levels selling.
4- Whole day actual trading between 6750-6786

Conclusions from intra day chart analysis 

Whole day 36 points range bound negative zone trading between 6750-6786 with lower levels good consolidation and multiple supports but minor selling was also seen at higher levels therefore valid break out of today trading range will be next immediate moves confirmation.  As today intraday trading patterns are showing good consolidation patterns therefore high possibility of decisive up moves above today highest(6786.25) despite today closing near the lower of the day.