Just watch 8230 for sharp fall

Intra Day Chart Analysis & Market Outlook

(21-10-2015)

Nifty-Intra Day Chart (01-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8280-8294
2- Minor supports between 8230-8258
3- Whole day actual trading between 8230-8294

Conclusions from intra day chart analysis 

Although Nifty closed near the higher levels of the day yesterday but we were Bearish therefore we clearly told following lines yesterday in "Very Short Term Correction Possibility":-

1- indications of very Short Term correction in the coming session
2- possibility of slipping below today lowest as well

As was told yesterday all that proved 100% accurate today in following manner:-

1- Exactly very short term correction was seen today through 74 points slipping from higher levels with 45 points negative zone trading and 15 points down closing also.
2- Nifty slipped below yesterday lowest(8239.20) and today lowest was at 8229.20.

As follow up selling was seen at higher levels today after yesterday selling therefore emergence of some more down moves possibilities. Immediate supports and resistances of Nifty are as follows:-

1- Resistances between 8271-8294
2- Resistances between 8240-8460
3- Minor supports between 8230-8258
4- Supports between 8148-8180

Although some selling between 8240-8460 yesterday but minor supports were also seen within and just below this range between 8230-8258 today therefore if follow up selling develops within this range tomorrow then sharp fall will be seen towards next supports(8148-8180).

Some down are expected and just watch valid break down of 8230 for sharp fall.

Very Short Term Correction Possibility

Intra Day Chart Analysis & Market Outlook

(20-10-2015)

Nifty-Intra Day Chart (19-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8240-8460
2- Selling patterns formation between 8271-8283
3- Whole day actual trading between 8240-8283

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day after whole day positive zone trading but intraday patterns have shown selling patterns also therefore indications of very Short Term correction in the coming session and possibility of slipping below today lowest as well.

Pre-open Outlook(19-10-2015)

As Dow's Futures is trading 52 points down and most Asian markets are also in Red, resultant sentiment is little depressed today morning therefore weaker opening will be seen in Indian markets also. Good consolidation between 8148-8180 on 16-10-2015 therefore expected that finally rally will be seen after follow up consolidation above 8148 and until Nifty will not sustain below it after complete selling till then any decisive down moves will not be seen.

Only One Last Confirmation will result Much Much Strong Rally

Technical Analysis,Research & Weekly Outlook

(Oct 19 to Oct 23,2015)

Nifty-EOD Chart (16-Oct-2015):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015 and 'ABC' correction beginning)
7- Wave-A(7940.30 on 12-06-2015) 
8- Wave-B(8654.75 on 23-07-2015)
9- Wave-C(7539.50 on 08-09-2015) 
10- Rally continuation after 'ABC' correction completion with recent top formation at 8246.40 on 16-10-2015

Conclusions from EOD chart analysis 

That Wave-1 which started on 28-08-2013 from 5118.85 gained 4000 points and completed at 9119.20 on 04-03-2015 after many times new life times high formation and then that its 'ABC' correction started which completed at 7539.50 on 08-09-2015 and now fresh rally is on with recent top formation at 8346.40 on 16-10-2015. 

Waves structure of correction

Nifty-EOD Chart (16-Oct-2015):-

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Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
2- Wave-A(7940.30 on 12-06-2015) 
3- Wave-B(8654.75 on 23-07-2015)
4- Wave-C(7539.50 on 08-09-2015) 
5- Rally continuation after 'ABC' correction completion with recent top formation at 8246.40 on 16-10-2015
6- Strong signals of Long Term Trend turning up after forceful closing above its decider 200 Day EMA(today at 8183) on 16-10-2015. 

Conclusions from EOD chart analysis 

As correction started on 04-03-2015 from 9119.20 after 5 Waves completion of that 4000 points rally which started 5118.85 on 28-08-2013 therefore deeper correction was imminent which lasted 6 months from  04-03-2015 to 08-09-2015 in 'ABC' correction pattern. 

Fresh rally started after 'ABC' correction completion at 7539.50 on 08-09-2015 which is now in continuation with previous closing above Long Term Trend decider 200 Day EMA(today at 8183) at 8238.15. Last confirmation of correction completion is sustaining above 200 Day EMA which will mean fresh rally above life time high(9119.20) 

37 Sessions trading range broken out confirmation

Nifty-Intra Day Chart (Aug 21 to Oct 16,2015):-

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Technical Patterns and Formations in last 37 Sessions intraday charts

1- 165 Points gap down opening on 24-08-2015
2- 27 Sessions actual trading between 7540-8092 from 24-08-2015 to 01-10-2015
3- 27 Sessions trading range broken out on 05-10-2015 
4- 9 Sessions sideways market between 8089-8245  
5- Previous closing near the top of 9 Sessions market

Conclusions from 37 Sessions intra day chart analysis 

165 Points gap down opening on 24-08-2015 and after that Nifty remained sideways in next 27 Sessions between 7540-8092 from 24-08-2015 to 01-10-2015. This range was forcefully broken out on 05-10-2015 and after that last 9 sessions sideways market between 8089-8245 as well as previous closing near top of 9 sessions range.

As break out confirmation of 27 sessions range does mean fresh strong rally and that is expected after getting it. 

Previous 10 Sessions sideways market Analysis

Nifty-Intra Day Chart (Oct 05 to Oct 16,2015):-

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Technical Patterns and Formations in last 10 Sessions intraday charts

1- Forceful break out on 05-10-2015 
2- Last 9 sessions Sideways market between 8089-8246 with higher levels selling and lower levels good buying
3- 9 Sessions actual trading between - 

Conclusions from 10 Sessions intra day chart analysis

Last 9 sessions Sideways market between 8089-8246 with higher levels selling and lower levels good buying after 27 sessions range forceful break out on 05-10-2015

As strong rally in last hours of previous session and closing near the top of 9 Sessions range after new high(8246.40) formation of last 10 sessions range as well as closing above the last resistances(8185-8230) therefore strong indications of fresh rally after break out of 9 sessions range.

Intra Day Chart Analysis(19-10-2015)

Nifty-Intra Day Chart (16-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours consolidation between 8148-8180(Immediate Supports)
2- Sharp 45 points up in 10 minutes
3- Whole day actual trading between 8148-8246
4- Strong rally in last hours on 16-10-2015

Conclusions from intra day chart analysis 

As strong up moves in last hours after first 4 hours consolidation therefore it is a clear signal of rally continuation and until Nifty will not sustain below day's lowest after complete selling till then any decisive down moves will not be seen.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend is up
2- Intermediate Term Trend is up
3- Long Term Trend is up but its confirmation is still required through sustaining above its decider 200 Day EMA(today at 8183). 

As 'ABC' correction of that 4000 points rally was started which was 18 months long also therefore as such long correction was to be seen and that happened also through 1579 points and 6 months long down moves up to 7539.50 on 08-09-2015. In the same manner complete consolidation was also must for correction completion and that was also seen through 27 sessions sideways market near the bottom of correction between 7540-8092 from 24-08-2015 to 01-10-2015.

Forceful break out of 27 sessions sideways market was seen on 05-10-2015 but again market turned sideways between 8089-8246 in last 9 sessions. As strong rally was seen on 16-10-2015 after lower levels good consolidation and closing was also near the higher levels of last 9 sessions trading range with new 9 sessions intraday highest formations therefore rally continuation is expected in the beginning of next week. 

Now all trends are up but only Long Term Trend turning up confirmation is still required through sustaining above its decider 200 Day EMA(today at 8183). As no selling signals have been seen yet therefore rally continuation will be seen but minor intraday or very short term correction may be seen any day because sentiment has turned heated after last Friday strong rally.

As 27 sessions trading range break out has got confirmation which means 4000 points rally correction completion also therefore only last confirmations through sustaining above 200 Day EMA(today at 8183) is left and that should be firstly watched for that strong rally which will remain continued much much above life time high(9119.20).   

Intra Day Chart Analysis & Market 

Outlook(16-10-2015)

Nifty-Intra Day Chart (15-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- More than 50 points up moves in first minute.
2- More than 5 hours trading between 8164-8190
3- Down moves in Bullish Falling Channel
4- Up moves in Bearish Rising Channel
5- Intraday corrections at higher levels in last hours
6- Whole day actual trading between 8130-8190

Conclusions from intra day chart analysis 

Following supports and resistances within this range of 8089-8245 were updated on 13-10-2015 in "Finally Watch 8089-8245 for Next Blasting Moves":-

1- Supports between 8089-8139
2- Resistances between 8185-8230

Nifty got supports within mentioned supports yesterday but could not sustain within mentioned resistances and closed below its lowest(8185) today because Up moves in Bearish Rising Channel were also seen at higher levels today. As more than 5 hours trading between 8164-8190 with good consolidation patterns formations within this range therefore hopes of rally continuation are alive but more follow up consolidation is still required for blasting rally above the top(8245) of last 7 sessions trading range because:-

1- Up moves in Bearish Rising Channel at higher levels today
2- Some profit booking also can not be ruled out today on the back of strong Global markets led heated sentiments.
3- Resistances between 8185-8230 are above today highest. 

As one sided technical positions have not developed yet and more consolidation is still required for valid break out of last 7 sessions range top(8245) therefore sideways market within mentioned last 7 sessions trading range(8089-8245) is still expected tomorrow. 

Live Proofs of 100% Accurate Predictions 

 We were not  Bearish despite following negative developments yesterday and Nifty traded 50 points up in first minute today:-

1- Dow Jones was trading more than 100 down 
2- Most Asian markets .47% to 1.89% negative closing
3- European markets closed .71% to 1.16% down
4- FIIs sold Index Futures yesterday- Rs 873 cr
5- FIIs sold Stock Futures yesterday- Rs 688 cr

As intraday charts have not shown selling patterns therefore we told following lines at 10:22 PM yesterday in "Firstly Watch supports at 8089 amid deep Red Global markets":-

1- view will not be Bearish
2- Today intraday patterns have not shown as such selling patterns formation and on the contrary above mentioned Bullish patterns were also seen
3- Nifty traded whole day above the last 6 sessions lowest(8089) with above mentioned consolidation patterns formations today
4- if Global markets remain in deep Red tomorrow morning then firstly follow up selling with sustaining below 8089 should be watched 

Firstly Watch supports at 8089 amid deep Red Global markets

Intra Day Chart Analysis & Market Outlook

(15-10-2015)

Nifty-Intra Day Chart (14-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- Up moves with sufficient intraday corrections
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8097-8139

Conclusions from intra day chart analysis

Although most of the time negative zone trading and closing near the lower levels of the day today but view will not be Bearish because following intraday positive developments were also seen today:-

1- Indian markets outperformed Global cues because Indian markets traded whole day flat to minor down despite most Asian markets .47% to 1.89% negative closing and all the European markets more than .50% down trading.
2- Today intraday patterns have not shown as such selling patterns formation and on the contrary above mentioned Bullish patterns were also seen.

As Dow jones is trading more than 100 down at this moment and all the European markets closed .71% to 1.16% down therefore if such weakness will be seen in Asian markets also tomorrow then gap down opening may be seen in Indian markets but above mentioned Bullish patterns were also seen today therefore until Nifty will not sustain below 8089 till then decisive down moves will not be seen. 

Following conclusive  were told yesterday in "Finally Watch 8089-8245 for Next Blasting Moves":-

As both higher levels good selling and lower levels equally good buying seen in last 6 sessions between 8089-8245 therefore Nifty will trade within this range in the coming sessions and once valid break out of this range will decide one sided blasting moves because 

1- That will be confirmation of Long Term Trend turning up above 8245 after correction completion at 7540 on 08-09-2015. 
2- That will be confirmation of Long Term Trend remaining down below 8089 and false break out confirmation of 27 Sessions trading range(7540-8092) also.
Nifty traded whole day above the last 6 sessions lowest(8089) with above mentioned consolidation patterns formations today therefore if Global markets remain in deep Red tomorrow morning then firstly follow up selling with sustaining below 8089 should be watched for above mentioned decisive blasting down moves confirmations.

Finally Watch 8089-8245 for Next Blasting Moves

Nifty-Intra Day Chart (Aug 21 to Oct 14,2015):-

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Technical Patterns and Formations in last 35 Sessions intraday charts

1- 165 Points gap down opening on 24-08-2015
2- 27 Sessions actual trading between 7540-8092 from 24-08-2015 to 01-10-2015
3- 27 Sessions trading range broken out on 05-10-2015 
4- Sideways market between 8089-8245 after 27 sessions break out in last 6 sessions 
5- Long Term Trend decider 200-Day EMA(today at 8183) is lying within last 6 sessions trading range. 

Nifty-Intra Day Chart (Oct 05 to Oct 14,2015):-

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Technical Patterns and Formations in last 7 Sessions intraday charts

1- Forceful break out on 05-10-2015 
2- Last 6 sessions Sideways market between 8089-8245 with higher levels selling and lower levels good buying

Nifty-Intra Day Chart (13-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8110-8129
2- Consolidation between 8089-8104
3- Whole day actual trading between 8089-8150

Conclusions (After Putting All Studies Together)

16 Months long 4000 Points strong rally from 28-08-2013 to 04-03-2015 between 5118.85-9119.20 with many times new life times high formation and after that its 'ABC' correction begun which formed bottom at 7540 on 08-09-2015. 

165 Points gap down opening on 24-08-2015 and after that Nifty remained sideways in next 27 Sessions between 7540-8092 from 24-08-2015 to 01-10-2015. This range was broken out forcefully on 05-10-2015 and after that last 6 sessions sideways market between 8089-8245 with higher levels selling and lower levels good buying, supports and resistances within this range are as follows:-

1- Supports between 8089-8139
2- Resistances between 8185-8230

Intermediate and Short Trends are up and Long Term Trend is sideways because Nifty is hovering around its decider 200-Day EMA(today at 8183) for last 6 sessions in its sideways market between 8089-8245.

As both higher levels good selling and lower levels equally good buying seen in last 6 sessions between 8089-8245 therefore Nifty will trade within this range in the coming sessions and once valid break out of this range will decide one sided blasting moves because 

1- That will be confirmation of Long Term Trend turning up above 8245 after correction completion at 7540 on 08-09-2015. 
2- That will be confirmation of Long Term Trend remaining down below 8089 and false break out confirmation of 27 Sessions trading range(7540-8092) also.

Finally watch 8089-8245 for next blasting moves.

Intra Day Chart Analysis & Market 

Outlook(13-10-2015)

Nifty-Intra Day Chart (12-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8199-8219
2- Whole day down moves in Bullish Falling Channel
3- Whole day actual trading between 8129-8245

Conclusions from intra day chart analysis 

As all the Asian markets were trading in Green and some markets were strong also therefore positive opening of Indian markets but selling was also seen between 8199-8219 immediately after opening. Some selling was also seen between 8206-8232 last Friday and follow up selling developed within this range today therefore 8199-8232 has developed immediate resistance range and some more consolidation is firstly required to cross and sustain above 8232.

As whole day down moves were also seen in Bullish Falling Channel after higher levels selling therefore today trading will be understood with mixed patterns formations and view will be watchful and cautious. Good consolidation between 8106-8139 on 08-10-2015 and selling between 8199-8232 in last 2 sessions therefore expected that Nifty will trade between 8106-8232 tomorrow and prepare for next decisive moves.

No gossiping never guessing and whatsoever market suggest only that is always updated. Let market prepare for next trend and decisive moves then will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years

As busy therefore Stock Market Outlook of today is not being updated.