Pre-closing Outlook(17-04-2014)

Following lines were told today:-

1- At 09:34 AM in Post-open Outlook- if Nifty sustain above 6703 then it will be first signal of some up moves and Indian markets turning into range bound mode between 6651-6819.
2- At 10:37 AM in Mid-session Outlook- consolidation also seen between 6685-6700 today therefore previous supports strengthened and strong signals of fresh up moves

Strong 99 points up moves from lower levels of today after Short term correction completion and next resistances are between 6806-6819 therefore only sustaining above 6819 has to be watched in next week for strong rally and new historical highs formations. 

Mid-session Outlook(17-04-2014)

Next support range was between 6651-6671 and it was tested yesterday but consolidation also seen between 6685-6700 today therefore previous supports strengthened and strong signals of fresh up moves. Now Indian markets will be understood range bound between 6651-6819 and fresh rally with new highs formations after correction completion will be considered after sustaining above some higher levels resistances.

Post-open Outlook(17-04-2014)

As US markets closed with good gains yesterday therefore sentiment is good and positive opening in Indian markets. Follow up selling was seen between 5692-6703 yesterday and first 15 minutes most time trading between this range today. As very Short Term indicators are oversold therefore if Nifty sustain above 6703 then it will be first signal of some up moves and Indian markets turning into range bound mode between 6651-6819.

Next immediate moves confirmation first signal will be valid break out of 5692-6703 today

Technical Analysis and Market Outlook(17-04-2014)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 5738-6765
2- Follow up selling between 5692-6703
3- Whole day actual trading between 6665-6748

Conclusions from intra day chart analysis 

Firstly higher levels selling and after that follow up selling as well as testing of next support range(6651-6671) today. Long and Intermediate Trends are up,Short Term Trend turned down and correction continuation. Last hope for Bulls is 6651 and once sustaining below 6651 will mean sharp fall because next supports are at much lower levels near 6500. 

Pre-closing Outlook(16-04-2014)

Support at 6706 broken down forcefully after higher levels selling between 6724.65-6748.65 and down moves seen towards next supports range(6651-6671). Short Term correction is on and much deeper correction will be seen below 6651 but follow up selling is must for sustaining below 6651 because good supports are lying between 6651-6671.

Mid-session Outlook(16-04-2014)

Following line with levels was updated in last 3 Outlooks:-

Valid break out of 6706-6748 will be next immediate moves confirmation 

As Nifty traded between 6724.65-6748.65 today with some consolidation and selling therefore only  sustaining beyond 6706-6748 should watched watched for next immediate trend confirmations.

Post-open Outlook(16-04-2014)

As selling indications with Bearish Engulfing Candle formation therefore flat Indian markets despite good Global cues. Some indications of consolidation also developed in first hour of trading today therefore correction completion will also be considered because today and yesterday trading is seen within next support range(6706-6732).

Valid break out of 6706-6748 will be next immediate moves confirmation and should be firstly watched.