New intraday lowest formation after sharp down at 2:00 Pm today but until Nifty will not sustain below 6675 till then decisive down moves will not be considered because consolidation patterns formations seen today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(04-04-2014)
As good selling in first 3 sessions of the week therefore very short term correction and consolidation was due and it has been seen yesterday and today. Consolidation patterns formation seen yesterday and today therefore emergence of rally continuation hopes in next week.
Technical Analysis and Market Outlook(04-04-2014)
Nifty-Intra Day Chart (03-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Fast up in last half hour.
3- Whole day actual trading between 6697-6776
As continuous higher levels selling in last 3 sessions therefore very short term correction possibility was required and it was seen through most time down moves in Bullish Falling Channel which is consolidation pattern. Good selling in last 3 sessions therefore some down moves can not be ruled out during consolidation process but expected that Nifty will trade and prepare for next trend between last 3 sessions range(6675-6764) and valid break out of this range will be next Short Term Trend confirmation.
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1- Down moves in Bullish Falling Channel
2- Fast up in last half hour.
3- Whole day actual trading between 6697-6776
Conclusions from intra day chart analysis
As continuous higher levels selling in last 3 sessions therefore very short term correction possibility was required and it was seen through most time down moves in Bullish Falling Channel which is consolidation pattern. Good selling in last 3 sessions therefore some down moves can not be ruled out during consolidation process but expected that Nifty will trade and prepare for next trend between last 3 sessions range(6675-6764) and valid break out of this range will be next Short Term Trend confirmation.
Pre-closing Outlook(03-04-2014)
As continuous higher levels selling in last 3 sessions therefore very short term correction possibility was told in most of the previous Outlooks and it is seen today through whole day continuous down moves since opening today. Although today down moves are in Bullish Falling Channel but some more down moves can not be ruled out and expected that Nifty will trade and prepare for next trend between last 3 sessions range(6675-6764) and valid break out of the range will be next Short Term Trend confirmation.
Mid-session Outlook(03-04-2014)
Although Nifty closed near the highest of the day yesterday but selling seen in last 3 sessions therefore we told following conclusive line yesterday in Technical Analysis and Market Outlook(03-04-2014):-
As was perceived same happened and Nifty could not sustain at higher levels and slipped immediately after positive opening and now .45% down. Both higher levels selling and lower levels consolidation seen in last 3 sessions therefore finally valid break out of last 3 sessions range(6675-6764) will be next immediate moves confirmations and should be firstly watched.
view is cautious and follow up moves with sustaining above today highest will also be firstly watched tomorrow for immediate up moves confirmations.
As was perceived same happened and Nifty could not sustain at higher levels and slipped immediately after positive opening and now .45% down. Both higher levels selling and lower levels consolidation seen in last 3 sessions therefore finally valid break out of last 3 sessions range(6675-6764) will be next immediate moves confirmations and should be firstly watched.
Technical Analysis and Market Outlook(03-04-2014)
Nifty-Intra Day Chart (02-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6738-6751
2- Minor consolidation between 6724-5733
2- Upmoves in Bearish Rising Channel.
3- Whole day actual trading between 6724-6763
All trends are up and Indian markets are so highly Bullish that not stopping and not giving any correction despite good selling patterns formations in last 3 sessions. Although last hour up moves in Bearish Rising Channel but minor consolidation also seen above the highest of last 2 sessions therefore of further rally continuation possibility also.
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1- Selling between 6738-6751
2- Minor consolidation between 6724-5733
2- Upmoves in Bearish Rising Channel.
3- Whole day actual trading between 6724-6763
Conclusions from intra day chart analysis
All trends are up and Indian markets are so highly Bullish that not stopping and not giving any correction despite good selling patterns formations in last 3 sessions. Although last hour up moves in Bearish Rising Channel but minor consolidation also seen above the highest of last 2 sessions therefore of further rally continuation possibility also.
As both selling and consolidations seen in last 3 sessions therefore view is cautious and follow up moves with sustaining above today highest will also be firstly watched tomorrow for immediate up moves confirmations.
Pre-closing Outlook(02-04-2014)
Market is so highly bullish that not stopping and not giving any correction despite good selling patterns formations. As consolidation at higher levels in last hour therefore emergence of further rally continuation possibility.
Mid-session Outlook(02-04-2014)
Although positive Global cues and SGX Nifty was trading more than 50 points points up today morning but Indian markets completely under performed and Mar Fut. remained 4 to 25 points up today because selling seen at higher levels in last 2 sessions and consolidation was required for any decisive up moves above yesterday highest but selling patterns again seen today therefore very short term down moves are expected.
Technical Analysis and Market Outlook(02-04-2014)
Nifty-Intra Day Chart (01-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6698-6715
3- Whole day actual trading between 6676-6732
As higher levels good selling with Hanging Man / Dragonfly Doji Candle(Daily) formation today therefore emergence of Very short term correction possibility because higher levels good selling was seen yesterday also. US markets are .55% to 1.50% up at this moment today and such strong Asian markets may result positive opening of Indian markets tomorrow but sustaining above the last 2 sessions highest(6732) should be watched tomorrow because good selling seen in last 2 sessions. Some lower levels supports also seen yesterday therefore sustaining below yesterday lowest(6663) will be little deeper down moves.
As Bull markets correct and consolidate at higher levels also therefore finally valid break out of 6663-6732 should be watched tomorrow for:-
1- Very short term correction below 6663 or
2- Rally continuation above 6732
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| Just click on chart for its enlarged view |
1- Selling between 6698-6715
3- Whole day actual trading between 6676-6732
Conclusions from intra day chart analysis
As higher levels good selling with Hanging Man / Dragonfly Doji Candle(Daily) formation today therefore emergence of Very short term correction possibility because higher levels good selling was seen yesterday also. US markets are .55% to 1.50% up at this moment today and such strong Asian markets may result positive opening of Indian markets tomorrow but sustaining above the last 2 sessions highest(6732) should be watched tomorrow because good selling seen in last 2 sessions. Some lower levels supports also seen yesterday therefore sustaining below yesterday lowest(6663) will be little deeper down moves.
As Bull markets correct and consolidate at higher levels also therefore finally valid break out of 6663-6732 should be watched tomorrow for:-
1- Very short term correction below 6663 or
2- Rally continuation above 6732
Mid-session Outlook(01-04-2014)
Following lines were told yesterday in Technical Analysis and Market Outlook(01-04-2014)
First 4 hours trading between 6676-6732 and most time trading between 6676-6710 today with higher levels again good selling and lower levels some buying also. As again mixed positions formations today therefore same view and valid break out of 6663-6730 should be firstly watched for next trend confirmation.
firstly fresh consolidation is required for any decisive up moves above today highest. Follow up moves and valid break out of today trading range(6663-6730) should be watched tomorrow
First 4 hours trading between 6676-6732 and most time trading between 6676-6710 today with higher levels again good selling and lower levels some buying also. As again mixed positions formations today therefore same view and valid break out of 6663-6730 should be firstly watched for next trend confirmation.
Technical Analysis and Market Outlook(01-04-2014)
Nifty-Intra Day Chart (31-Mar-2014):-
Technical Patterns and Formations in today intraday charts
1- Good selling between 6690-6730
2- Minor support between 6663-6677
3- Whole day actual trading between 6663-6730
Down moves after higher levels selling but minor supports also at lower levels therefore sideways market today and fresh preparation is required for next immediate decisive moves. All trends are up and indicators are overbought therefore correction is due but complete selling patterns are firstly required for decisive down moves. As higher levels good selling today therefore firstly fresh consolidation is required for any decisive up moves above today highest. Follow up moves and valid break out of today trading range(6663-6730) should be watched tomorrow for:-
1- Very short term correction below 6663 or
2- Rally continuation above 6730
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| Just click on chart for its enlarged view |
1- Good selling between 6690-6730
2- Minor support between 6663-6677
3- Whole day actual trading between 6663-6730
Conclusions from intra day chart analysis
Down moves after higher levels selling but minor supports also at lower levels therefore sideways market today and fresh preparation is required for next immediate decisive moves. All trends are up and indicators are overbought therefore correction is due but complete selling patterns are firstly required for decisive down moves. As higher levels good selling today therefore firstly fresh consolidation is required for any decisive up moves above today highest. Follow up moves and valid break out of today trading range(6663-6730) should be watched tomorrow for:-
1- Very short term correction below 6663 or
2- Rally continuation above 6730
Pre-closing Outlook(31-03-2014)
Sideways market today with lower levels supports and higher levels selling therefore same view which has already been updated in previous Outlooks.
Mid-session Outlook(31-03-2014)
Confirm selling at higher levels today and next immediate supports are at 6644.
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