As all the Asian markets are trading in negative zone and Hand Seng is 1.86% down today morning therefore weaker opening will be in Indian markets and once sustaining below yesterday lowest will mean Short Term Trend turning down confirmation.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(10-09-2014)
Nifty-Intra Day Chart (09-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 8127-8142
2- Selling patterns in last half hours
3- Whole day actual trading between 8127-8174
Although some selling patterns in last half hour but lower levels supports and good consolidation was also seen therefore until Nifty will not sustain below yesterday lowest till then fresh up moves possibility after yesterday started correction completion will remain alive.
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1- Consolidation between 8127-8142
2- Selling patterns in last half hours
3- Whole day actual trading between 8127-8174
Conclusions from intra day chart analysis
Although some selling patterns in last half hour but lower levels supports and good consolidation was also seen therefore until Nifty will not sustain below yesterday lowest till then fresh up moves possibility after yesterday started correction completion will remain alive.
Pre-closing Outlook(09-09-2014)
As uncertainty due to judgement of 218 Coal blocks case therefore confusion and whole day negative zone trading with most time trading between 8127-8155 today. Intraday patterns of today are not showing selling patterns formations therefore deeper correction is not expected and fresh up moves expectations will remain alive after today started correction completion within Very Short Term correction mode.
If judgement is announced today then Indian markets will react accordingly tomorrow therefore its implications should be firstly understood also.
Mid-session Outlook(09-09-2014)
Supreme Court to decide fate of 218 Coal blocks today and this judgement will decide next short Term Trend of Indian markets as well as high volatility may also be seen after the announcement of Judgement therefore implications of this Judgement should be firstly understood for the confirmation next Short Term direction of Indian Stock Markets.
Technical Analysis and Market Outlook(09-09-2014)
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1- Mixed Patterns between 8129-8147
2- Mixed Patterns between 8145-8157
3- Whole day actual trading between 8129-8180
Conclusions from intra day chart analysis
Although first 5 hours trading with mixed pattern formations but forceful up moves in last hours because Indian markets are trading at life time high and general trader does not buy easily as well as sell fast at such extremely higher levels.
Last 3 sessions selling between 8100-8139 and this range broken out forcefully today therefore rally continuation is expected in the coming sessions because:-
1- Indian markets are trading at life time high.
2- Complete selling patterns on daily charts are firstly required for any deeper correction.
3- As such selling patterns have not seen yet.
Minor intraday correction or 1/2 sessions Very Short Term correction may be seen after any rally but no possibility of any deeper correction at this moment and this fact should also be kept in mind that some times Bull markets correct at at higher levels also without slipping in intraday negative zone.
Mid-session Outlook(08-09-2014)
As higher levels selling between 8100-8139 in last 3 sesions therefore Nifty could not rally above it despite strong recovery in first half hour today. Last 3 hours trading and preparation for next decisive trend between 8126-8149 today but intraday patterns have not shown any clear patterns yet therefore sustaining beyond 8100-8149 should be watched for next immediate moves confirmations. It should be kept in mind that clear break out of last 3 sessions selling range(8100-8139) is must for next decisive up moves.
Technical Analysis and Market Outlook(08-09-2014)
Nifty-Intra Day Chart (Sep 02 to Sep 05,2014):-
Technical Patterns and Formations in last 4 Sessions intraday charts
1- 4 Sessions most time trading between 8064-8139.
2- Higher levels selling in last 3 sessions between 8100-8139
3- Lower levels supports in last 3 sessions between 8064-8082
All trends are up and market is most Bullish but Oscillators are showing negative divergence in Overbought zone therefore correction is very much due also. It should be kept in mind that market require complete selling patterns on daily charts before any deeper correction and such patterns have not developed yet therefore depper correction will not be considered at this moment.
Last 4 Sessions sideways trading with higher levels selling and lower levels supports between 8064-8139 therefore Nifty will firstly remain range bound within this range and prepare for next decisive moves in the beginning of next week. As sometimes Bullish markets complete its correction in sideways mode also therefore this possibility should also be considered and valid break out of last 4 sessions range(8064-8139) should be first watched in the coming week for next decisive trend.
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1- 4 Sessions most time trading between 8064-8139.
2- Higher levels selling in last 3 sessions between 8100-8139
3- Lower levels supports in last 3 sessions between 8064-8082
Conclusions from 4 Sessions intra day chart analysis
All trends are up and market is most Bullish but Oscillators are showing negative divergence in Overbought zone therefore correction is very much due also. It should be kept in mind that market require complete selling patterns on daily charts before any deeper correction and such patterns have not developed yet therefore depper correction will not be considered at this moment.
Last 4 Sessions sideways trading with higher levels selling and lower levels supports between 8064-8139 therefore Nifty will firstly remain range bound within this range and prepare for next decisive moves in the beginning of next week. As sometimes Bullish markets complete its correction in sideways mode also therefore this possibility should also be considered and valid break out of last 4 sessions range(8064-8139) should be first watched in the coming week for next decisive trend.
Mid-session Outlook(01-09-2014)
Following conclusive line was told on 28-08-2014 in Pre-closing Outlook:-
As was predicted same happened and most time trading above 8000 with more than .75% gains today. As good consolidation last Thursday within previous resistance range and today also higher levels consolidation therefore rally continuation above 8000 is expected.
rally continuation above 8000 is expected in next week.
As was predicted same happened and most time trading above 8000 with more than .75% gains today. As good consolidation last Thursday within previous resistance range and today also higher levels consolidation therefore rally continuation above 8000 is expected.
Pre-closing Outlook(28-08-2014)
Following conclusive line was told yesterday in Technical Analysis and Market Outlook(28-08-2014)
follow up consolidation is equally required because last resistance range(7940-7968) is strong.
Nifty traded whole day within above mentioned levels between 7940.80-7967.80 with intraday consolidation patterns formations therefore rally continuation above 8000 is expected in next week.
follow up consolidation is equally required because last resistance range(7940-7968) is strong.
Nifty traded whole day within above mentioned levels between 7940.80-7967.80 with intraday consolidation patterns formations therefore rally continuation above 8000 is expected in next week.
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