Firstly Watch valid break out Strong Supports Range

Intra Day Chart Analysis & Market Outlook

(30-10-2015)

Nifty-Intra Day Chart (29-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- 3 Hours Mixed Patterns formations between 8134-8159
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8098-8159

Conclusions from intra day chart analysis 

When Dow Jones was trading 105 points up and most European markets were also are more than 1% up as well as FOMC announcements were due at 11:30 PM(IST) yesterday then we posted Bearish views in following words at 09:21 PM in "Firstly Watch 8090 for deeper correction confirmations":-

1- still we are expecting some more down moves in Indian markets 
2- strong supports of Nifty are between 8090-8124
3- Firstly watch valid break down of 8090 for deeper correction confirmations 
4- some more down moves possibilities tomorrow

As was above projected yesterday all that proved 100% accurate in in following manner today;-

1- Whole day down moves were seen and once Nifty was down 73 points as well as closed after loosing 59.45 points today.
2- Strong supports were told between 8090-8124 and Nifty got supports within this range at 8098 as well as closed between this range at 8111.75 today.

Although whole day down moves and closing near the lower levels of the day today but as such selling patterns were not seen and first 3 hours trading was with Mixed Patterns formations between 8134-8159. As down moves in Bullish Falling Channel formations also in last hours also today within mentioned strong supports range(8090-8124) therefore its valid break out should be firstly watched in the coming sessions for:-

1- Deeper correction below 8090 because that will be confirmation of failure to sustain above Long Term Trend decider 200 Day EMA(today at 8186) also.
2- First signal of on going Short Term Correction completion above 8124. 

Firstly Watch 8090 for deeper correction confirmations

Intra Day Chart Analysis & Market Outlook

(29-10-2015)

Nifty-Intra Day Chart (28-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- More than 3 hours selling between 8188-8209
2- Volatility with lower levels minor supports in last 2 hours
3- Whole day actual trading between 8132-8209

Conclusions from intra day chart analysis 

Correction/Down moves were projected in following previous topics from 25-10-2015:- 

1- On 25-10-2015 in "Short Term Correction Possibility amid Most Bullish News led Global Markets":-
2- On 26-10-2015 in "Firstly Watch 8186 for Long Term Trend Confirmations amid Some More Down Moves Possibilities":-

Only correction and down moves told  which proved 100% acurate and Nifty slipped 204 points after 25-10-2015. 

Although strong recovery from lower levels in last hours today but on the back of only minor supports at lower levels therefore until Nifty will not sustain above today highest(8209) after complete consolidation till then decisive up moves will not be considered because good selling at higher levels between 8188-8209 and it will be immediate resistance of Nifty.

Although strong rally in US(Dow 105 points up) and all European(most are more than 1% up) markets at this moment before FOMC announcements today at 11:30 PM (IST) but still we are expecting some more down moves in Indian markets because good selling at higher levels in last 7 sessions. Next strong supports of Nifty are between 8090-8124 therefore more follow up selling is firstly required now for decisive down moves and deeper correction.

Firstly watch valid break down of 8090 for deeper correction confirmations amid some more down moves possibilities tomorrow.

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

Firstly Watch 8186 for Long Term Trend Confirmations amid Some More Down Moves Possibilities 

Intra Day Chart Analysis & Market Outlook

(27-10-2015)

Nifty-Intra Day Chart (26-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours selling patterns formations between 8265-8290
2- Whole day actual trading between 8253-8336

Conclusions from intra day chart analysis 

Although blasting Global markets in last 2 sessions due to ECB economic stimulus and Chinese interest rate cuts news but Nifty intraday patterns of previous week were showing selling patterns formations therefore we told following lines on 25-10-2015 in current week analysis topic "Short Term Correction Possibility amid Most Bullish News led Global Markets":-

Certainly Short Term Correction possibility amid most Bullish news led Global markets is suggesting to watch sustaining beyond following 3 levels one by one:-

1- Last Friday Highest(8328.10)
2- Last Wednesday Highest(8294.40)
3- 200 Day EMA(today at 8186)

As good selling in previous week therefore slipping immediately after gap up strong opening and 4 hours follow up selling patterns formations between 8265-8290 also which is within previous week selling range 8240-8294 therefore previous week resistance ranges have turned stronger and emergence of some more down moves possibilities in the coming session.

Last 6 sessions closing above Long Term Trend decider 200 Day EMA(today at 8186) and its turning up almost confirmations also but above mentioned selling patterns above it therefore sustaining it beyond should also be firstly watched in the coming 2/3 sessions for valid break out confirmations of 200 Day EMA which seems to be at stake after emergence of some more down moves possibilities towards and below it. 

Short Term Correction Possibility amid Most Bullish News led Global Markets

Technical Analysis,Research & Weekly Outlook

(Oct 26 to Oct 30,2015)

Nifty-EOD Chart (23-Oct-2015):-

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Technical Patterns and Formations in EOD charts

1- 7539.50 on 08-09-2015(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(8055.00 on 18-09-2015)
3- Wave-2(7691.20 on 29-09-2015)
4- Wave-3(8244.50 on 12-10-2015)
5- Wave-4(8088.60 on 13-10-2015)
6- Wave-5 continuation with recent top formation at 8328.10 on 23-10-2015
7- Long Term Trend turning up almost confirmations after 5 sessions closing above its decider 200 Day EMA(today at 8186). 

Conclusions from EOD chart analysis

Rally beginning after 'ABC' correction completion at 7539.50 on 08-09-2015 and now its continuation with all trends turning up almost confirmations.

Previous 4 sessions intraday charts analysis

Nifty-Intra Day Chart (Oct 19 to Oct 23,2015):-

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Technical Patterns and Formations in last 4 Sessions intraday charts

1- Selling between 8240-8260 on 19-10-2015
2- Selling between 8271-8283 on 19-10-2015
3- Selling between 8280-8294 on 20-10-2015
4- Supports between 8230-8258 on 20-10-2015
5- Selling between 8272-8294 on 21-10-2015
6- Selling between 8252-8258 on 21-10-2015
7- Support between 8217-8240 on 21-10-2015
8- First 3 sessions trading between 8217-8294 with good selling and minor supports.
9- Mixed patterns formations on 23-10-2015

Conclusions from 4 Sessions intra day chart analysis

First 3 sessions trading between 8217-8294 with higher levels good selling and minor supports at lower levels therefore strong indications of correction below 3 sessions lowest(8217) but gap up opening was seen on 23-10-2015 after ECB Bullish news led blasting all Global markets.

As Mixed patterns formations on 23-10-2015(detailed analysis is given below) therefore valid break out confirmation of first 3 sessions trading range is still required.

Intra Day Chart Analysis(26-10-2015)

Nifty-Intra Day Chart (23-Oct-2015):-

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Technical Patterns and Formations in today intraday charts

1- Minor selling between 8306-8315
2- Minor selling between 8306-8312
3- Whole day Down moves in Bullish Falling Channel
4- Whole day actual trading between 8281-8328

Conclusions from intra day chart analysis

As ECB points to more economic stimulus therefore Dow Jones's triple century and strong closing of all the European markets on 22-10-2015 and resultant blasting all the Asian markets so gap up opening of Indian markets on 23-10-2015 but gap filled up through slipping below previous sessions highest(8294.40). Although whole day positive zone trading with 0.53% up closing but view will cautious due to following intraday developments:-

1- Indian markets completely under performed Global markets.
2- Minor selling patterns formations.
3- Whole day Down moves in Bullish Falling Channel

As both buying and selling indications therefore Mixed patterns formations will be understood on 23-10-2015.

Conclusions (After Putting All Studies Together)

As Long Term Trend decider 200 Day EMA(today at 8186) forcefully broken out on 16-10-2015 and last 4 sessions closing above it also therefore strong signals of fresh rally beginning towards and above life time high but for next Short Term Trend view is cautious due to following reasons which are indicating Short Term Correction possibility also:-

1- Short Term indicators turned overbought after previous 30 sessions 788 points rally.
2- 5th Wave of on going Short Term Rally continuation
3- Long Term Trend decider 200 Day EMA(today at 8186) forcefully broken out on 16-10-2015 but after that good intraday selling in next 3 sessions.

As interest-rate cuts in China last Friday therefore strong closing of all European and US markets last Friday and in reactions such strength will be seen in all Asian markets tomorrow therefore strong opening will be seen in Indian markets also. Last Friday strong markets were on the back of ECB economic stimulus news and next Monday surging markets will be Chinese interest rate cuts led but will not be the result of technical positions formations. Except that all the Global markets will have to prepare in next 3 sessions for post FOMC trading on 29-10-2015 which will be Oct Derivative Expiry day also therefore view will be cautious and watchful in following manner:-

1- Sustaining above last 2 sessions highest should be firstly watched next Monday after strong opening due to Chinese interest rate cuts news.
2- As trading on next Tuesday and Wednesday will be news free therefore intraday technical patterns formation will be seen and then final view will be formed accordingly for next trend.

Certainly Short Term Correction possibility amid most Bullish news led Global markets is suggesting to watch sustaining beyond following 3 levels one by one:-

1- Last Friday Highest(8328.10)
2- Last Wednesday Highest(8294.40)
3- 200 Day EMA(today at 8186)

U.S. and European markets blasted after ECB points to more economic stimulus

All the US and European markets zoomed up after ECB more economic stimulus news and now Dow Jones is trading 185 points up as well as most European markets are now more than 2% up. Certainly most Bullish news but next resistances of Nifty are between 8252-8294 and firstly sustaining above 8294 should be watched tomorrow for final reaction of news on Indian markets.

Happy Dussehra to all of you

Meaning of Dussehra Word:

D - Devil in

U - Ur life by giving you 

S - Splendid and 

S - Sparkling

E - Energy which brings

H - Happiness,

R - Riches and

A - Abundance!

3% to 5% Correction Possibility

Intra Day Chart Analysis & Market Outlook

(23-10-2015)

Nifty-Intra Day Chart (21-Oct-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 8272-8294
2- Support between 8217-8240
3- Selling between 8252-8258
4- Whole day actual trading between 8217-8294

Conclusions from intra day chart analysis

Following lines were told yesterday in "just watch 8230 for sharp fall":-

1- Some down are expected
2- just watch valid break down of 8230 for sharp fall

As was told 100% same happened and down moves were seen after slipping 77 points from higher levels and 9 points down closing also today. Sharp fall after valid break down of 8230 was also told and Nifty slipped also below 8230 but valid break down was not seen and some recovery from lower levels.

Although some supports at lower levels but good selling was also seen at higher levels today and selling was seen in last 2 sessions also therefore view is turning Bearish. As lower levels some supports was also seen in last 2 sessions therefore sideways market between 8217-8294 may be seen but expected that finally valid break down of today lowest(8217) will be seen and 3% to 5% correction is expected in the coming 2/3 sessions.

Just watch 8230 for sharp fall

Intra Day Chart Analysis & Market Outlook

(21-10-2015)

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

Just click on chart for its enlarged view

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.