Just Watch Crucial levels amid Global Markets led High volatility

Intra Day Chart Analysis & Market Outlook

(05-02-2016)

Nifty-Intra Day Chart (04-Feb-2016):-

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Technical Patterns and Formations in today intraday charts

1- Only intraday volatility
2- Whole day actual trading between 7366-7457

Conclusions from intra day chart analysis 

As Dow Jones closed 183 points up yesterday and its Futures was also trading more than 65 points up today morning therefore most Asian markets were trading in Green and some were more than 1% up,resultant Indian markets opened with good gains as well as Nifty moved up 65 points in first 2 minutes. Although Nifty closed 42 points up today but on EOD chart Doji candle(indecision) formation today which means market is undecided for any side next Short Term Trend.

As Nifty got supports at and above 7350 and in last 2 sessions and next supports below it are between 7242-7320 therefore if finally Nifty sustains above it then fresh rally will be seen after previous Pull Back Rally correction completion. 

High volatility in all the Global markets therefore in reaction Indian markets also remained very choppy in this week and as such one sided intraday technical positions formation were also not seen in previous sessions. As no gossiping never guessing and whatsoever intraday charts analysis suggest,only that is always updated therefore let clear patterns develop then next decisive moves will be updated accordingly otherwise till then just watch above mentioned crucial levels for confirmation amid such high volatile markets:-

1- Next supports are between 7242-7320 and its valid breaking down will mean again decisive down moves.
2- Next resistances are between 7552-7640 and its valid breaking out will mean fresh strong up moves. 

As busy in a marriage therefore today Outlook will not be updated but Mid Session Outlook may be posted during trading hours today.

Pre-open Outlook(03-02-2016)

Crashing like situation in all the Global markets in following manner today morning:-

1- All the Asian markets are trading 1% to 3.1% down.
2- Dow Jones closed 1.8% down yesterday
3- All the European markets closed 1.8% to 3.0% down yesterday.

As sentiment is completely depressed today morning therefore gap down opening below next supports(7420-7447) will be seen in Indian market also. Next supports below it are between 7242-7320 and once sustaining below 7420 will mean testing of next supports.

We posted following topic on 01-02-2016 and just keep in mind today also:-

Fresh Long Positions after Today started Correction Completion Confirmations

Correction started on 01-02-2015 and same day we clearly told through above topic that fresh buying should be done after correction completion confirmations.

Firstly Watch Next Sufficiently Strong Supports

Intra Day Chart Analysis & Market Outlook

(03-02-2016)

Nifty-Intra Day Chart (02-Feb-2016):-

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Technical Patterns and Formations in today intraday charts

1- Firstly RBI Credit policy led high volatility
2- Last 2 hours down moves after European markets weakness and Dow's Futures more than 110 points slipping
3- Whole day actual trading between 7429-7576

Conclusions from intra day chart analysis 

As 25 BPS cut in Repo rate was expected today but RBI keeps repo rate & CRR unchanged in monetary policy review therefore immediate fall after its announcement. Although some recovery was seen in mid session but again sharp fall after European markets weakness and Dow's Futures more than 110 points slipping.

It is clear that today intraday moves were completely news based and not after technical positions formations therefore final conclusions will be drawn through EOD charts and levels:-

1- Correction of that Pull Back rally is on which started on 20-01-2016 from 7242 and completed on 01-02-2016 at 7600
2- Resistances between 7552-7606 were updated in previous Outlooks and Nifty could not cross this range but sharply slipped below it after follow up selling within it yesterday
3- Next supports are between 7420-7447 and once sustaining below 7420 will mean again sharp fall towards next supports(7242-7320)

Following conclusive lines were told yesterday in "Fresh Long Positions after Today started Correction Completion" Confirmations" and being repeated for tomorrow Outlook:-

1- some more correction can not be ruled out in the coming sessions 
2- Next decisive up moves will be seen after follow up consolidation and sustaining above 7640 
3- let today started correction completion confirmations come then fresh long positions should be created.

As next supports are between 7420-7447 are sufficiently strong therefore firstly sustaining it beyond should be watched tomorrow for yesterday started correction continuation/completion.

Fresh Long Positions after Today started Correction Completion Confirmations

Intra Day Chart Analysis & Market Outlook
(02-02-2016)

Nifty-Intra Day Chart (01-Feb-2016):-

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Technical Patterns and Formations in today intraday charts

1- Minor support between 7558-7571
2- Selling between 7586-7600
3- More than 4 hours Down moves in Bullish Falling Channel
4- Whole day actual trading between 7542-7600

Conclusions from intra day chart analysis 

Following conclusive lines were told at 01:49 AM today in "Pull Back rally continuation after follow up consolidation":-

1- Very Short Term oscillators turned overbought after last 7 sessions rally
2- resistances are also lying just above previous session highest
3- intraday correction from intraday higher levels may be seen any day

As was told 100% same happened today and intraday correction from intraday higher levels was seen today. 

Although some selling near the higher levels of the day today but more than 4 hours Down moves in Bullish Falling Channel was also seen therefore today intraday correction will be understood a part of follow up consolidation process after last 7 sessions 334 points Pull Back Rally.

Resistances between 7552-7606 were updated in previous Outlook and today selling within this range between 7586-7600 and next resistances are also lying up to 7640 as well as correction of previous 334 points rally has also begun today therefore possibility of some more correction can not be ruled out in the coming sessions but finally Pull Back rally continuation is still expected after follow up consolidation.

Next decisive up moves will be seen after follow up consolidation and sustaining above 7640 and let today started correction completion confirmations come then fresh long positions should be created.

Pull Back rally continuation after follow up consolidation

Technical Analysis,Research & Weekly Outlook(Feb 01 to Feb 05,2016)

Nifty-EOD Chart (29-Jan-2016):-

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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 recent bottom at 7241.50 on 20-01-2016
10- Pull Back rally is on now with recent top formation at 7575.65 on 29-01-2016

10 Months Correction in Bullish Flag formations 

Nifty-EOD Chart (29-Jan-2016):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013
2- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
3- Recent bottom of correction at 7241.50 on 20-01-2016
4- 10 Months correction in Bullish Flag formations

Fibonacci Retracement levels of on going ABC Correction

Nifty-EOD Chart (29-Jan-2016):-

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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-5 completion at 9119.20 on 04-03-2015 and 'ABC' correction beginning
3- Wave-C continuation with recent bottom formation at 7241.50 on 20-01-2016
4- Crucial 50.0% retracement level is at 7118 which is little below recent bottom

 Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend is up
2- Intermediate Term Trend is down and will be up after sustaining above 7721
3- Long Term Trend is down and will be up after sustaining above its decider 200 Day EMA(today at 7971) 

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 after that its 'ABC' correction started which is in continuation now and no confirmation of its completion yet.

ABC correction of 4000 points rally between 5118-9119 is on which will correct according to following Fibonacci Retracement levels:-

1- 13.0%- 8598
2- 23.6%- 8174
3- 27.0%- 8038
4- 38.2%- 7590(Crucial)
5- 50.0%- 7118(Crucial)
6- 61.8%- 6646(Crucial)
7- 70.0%- 6290
8- 76.4%- 6062
9- 78.6%- 5974 
10-88.6%- 5574 

Next supports of Nifty are as follows

1- 7420-7447
2- 7242-7320

Next resistances of Nifty are as follows

1- 7552-7606
2- 7614-7640
3- 7675-7721(Gap)

Whole 10 months correction from 9119.20 to 7241.50 in Falling channel with Bullish Flag formations. As Flag will remain valid up to near about 7100 and 50% retracement level is also near it at 7118 therefore strong possibility of correction completion will be considered near about 7100. If on going correction finally completes above 7100 then that will be confirmation of Bullish Flag validity which will mean fresh rally above life time high(9119.20) after 18 months(Aug,28 2013-Apr,04 2015) long and 4000 points(5118.85-9119.20) rally correction completion.

Although 334 points strong recovery from lower levels in last 7 sessions but no confirmation of on going big correction completion which will be considered after sustaining above Long Term Trend decider 200 Day EMA(today at 8971).

Certainly Pull Back Rally is on and its continuation will be seen because no selling pattern yet but a Bullish development last Friday after 3 Sessions Trading Range forcefully broken out that day.

As Very Short Term oscillators turned overbought after last 7 sessions rally and resistances are also lying just above previous session highest therefore intraday correction from intraday higher levels may be seen any day but finally Pull Back rally continuation is expected after follow up consolidation between above mentioned levels.

Last 3 Sessions Trading Range will decide next Short Term Trend

Intra Day Chart Analysis & Market Outlook

(29-01-2016)

Nifty-Intra Day Chart (28-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours consolidation between 7424-7447
2- Up moves in Bearish Rising Channel
3- Sharp fall in last hour
4- Whole day actual trading between 7410-7468

Conclusions from intra day chart analysis 

Firstly 4 Hours good consolidation between 7424-7447 but after that sharp fall in last hour today because:-

1- Selling was seen above 7447 between 7450-7465 and 7468-7487 on 25-01-2016 and more consolidation was required for sustaining above 7447.
2- Up moves above 7447 were in Bearish Rising Channel.

Last 3 sessions sideways trading within 77 points between 7410-7487 with lower levels good supports and higher levels equally good selling also. Although today closing is near the lower levels of the day after last hour sharp fall but good consolidation was also seen above 7424 today therefore sustaining below it is must after follow up selling for fresh down moves.

Certainly correction is on and no confirmation its completion yet and sustaining beyond last 3 sessions trading range(7410-7487) will decide next Short Term Trend in following manner:-

1- Sustaining below 7410 will mean correction continuation towards 7242
2- Sustaining above 7487 will mean first indication of strong Pull Back Rally but confirmation will be after sustaining above following next resistances:-

A- Resistances between 7504-7562
B- Resistances between 7552-7606
C- Resistances between 7614-7640

Mid-session Outlook(28-01-2016)

More than  4 hours trading within 29 points between 7424-7453 with lower levels supports and some consolidation today. As Nifty got supports above 7420 yesterday also therefore once sustaining above 

1- 7487 will be first indication of strong Pull Back Rally.
1- 7640 will be confirmation of strong Pull Back Rally.

Correction Continuation towards 7242 after 2 Intraday Bearish Developments

Intra Day Chart Analysis & Market Outlook

(28-01-2016)

Nifty-Intra Day Chart (27-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- Support between 7420-7435
2- Selling between 7460-7477
3- Mixed Patterns between 7440-7455
4- Bearish Head and Shoulders formations with Neckline at 7424
5- Whole day actual trading between 7420-7477

Conclusions from intra day chart analysis 

Following lines were told today at 10:14 AM in "Firstly watch valid break out of 7420-7487 for next decisive moves":-

1- some intraday supports seen between 7420-7435 today
2- selling was also seen between 7450-7465 and 7468-7487 on 25-01-2016
3- Firstly valid break out of 7420-7487 should be watched for next decisive moves.

Market honoured our all above levels in following manner today:-

1- Intraday supports were told between 7420-7435 and Nifty could not slip below 7420 and closed above 7435 at 7437.75 today.
2- Selling levels were told between 7450-7487 and Nifty could not move above 7487 and closed below 7450 at 7437.75 today.
3- Watching for valid break out of 7420-7487 was told with above supports and resistances and Nifty traded whole day as well as closed within this range today.

Although lower levels supports and higher levels selling is suggesting intraday Mixed Patterns formations today but following intraday developments are suggesting some down moves below today lowest(7420):-

1- Follow up selling was seen within the selling ranges of 25-01-2016. 
2- Intraday Bearish Head and Shoulders pattern formations with Neckline at 7424.

Although flat closing after most time positive zone trading today but with above mentioned 2 intraday Bearish developments therefore correction continuation towards 7242 is expected tomorrow.

Firstly watch valid break out of 7420-7487 for next decisive moves

Post-open Outlook(27-01-2016)

As positive Asian markets today morning after Dow Jones 282 points up strong closing yesterday therefore some intraday supports seen between 7420-7435 today but selling was also seen between 7450-7465 and 7468-7487 on 25-01-2016 which will be immediate Resistances of Nifty.

Firstly valid break out of 7420-7487 should be watched for next decisive moves.

Correction Continuation towards 7242

Intra Day Chart Analysis & Market Outlook

(27-01-2016)

Nifty-Intra Day Chart (25-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 7468-7487(Immediate Resistances)
2- Selling between 7450-7465(Immediate Resistances)
3- Whole day actual trading between 7422-7487

Conclusions from intra day chart analysis 

Although Nifty closed near the higher levels of the day on 22-01-2016 and also opened gap up strong on 25-01-2016 but we were not Bullish but watchful therefore we told following lines at 10:30 AM on 25-01-2016 in "Firstly Watch 7462-7504 for next Very Short Term Trend beginning":-

1- Last 5 sessions trading range(7242-7462) broken out in first minute today but on the back of strong Global cues
2- its confirmation is required through sustaining above 7462.
3- Next resistances are above 7504
4- will trade between 7462-7504 for next Very Short Term Trend preparation and firstly valid break out this range should be watched for its beginning.

Valid break out of 7462-7504 with resistances above 7504 were specially mentioned despite such strong Global and Indian markets and Nifty slipped as well as closed below 7462 at 7436.15 last Monday. As good intraday selling was also seen therefore correction continuation is expected towards 7242 and its valid breaking down will open the gates of further correction towards 7104/6761.

गणतंत्र दिवस की हार्दिक शुभकामनाएं 
Happy  Republic Day

Reunite On This Republic Day To Celebrate the Victory of Our Freedom Fighters and Rejoice in the Sacrifices That Made It Possible On This Republic Day, Let Us Unite In the Chant Vande Mataram and Let the Glory of Our Land and the Spirit of India Live Forever

Firstly Watch 7462-7504 for next Very Short Term Trend beginning

Post-open Outlook(25-01-2016)

As all the Asian markets were trading in Green with .60% to 1.5% gains therefore sentiment was positive today morning and Nifty traded 51 points up in first minute after gap up opening today. Last 5 sessions trading range(7242-7462) broken out in first minute today but on the back of strong Global cues therefore its confirmation is required through sustaining above 7462.

Next resistances are above 7504 which have already been updated in previous Outlook also yesterday and Nifty has to consolidate completely for beginning of decisive up moves above it therefore will trade between 7462-7504 for next Very Short Term Trend preparation and firstly valid break out this range should be watched for its beginning.

Next Short Term Trend Confirmation through 7242-7640

Technical Analysis,Research & Weekly Outlook

(Jan 25 to Jan 29,2016)

Nifty-Intra Day Chart (Jan 18 to Jan 22,2016):-

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Technical Patterns and Formations in last 5 Sessions intraday charts

1- Last 5 Sessions actual trading between 7242-7462 
2- Higher levels some selling patterns and lower levels some buying patterns in last 5 sessions.

Conclusions from 5 Sessions intra day chart analysis 

Last 5 sessions actual trading between 7242-7462 with higher levels some selling and lower levels some buying therefore valid break out of this range will generate next decisive moves.

Intra Day Chart Analysis(25-01-2016)

Nifty-Intra Day Chart (22-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- First 2 hours slow up moves
2- Last 4 hours up moves in Broadening Pattern
3- Whole day actual trading between 7328-7433

Conclusions from intra day chart analysis 

Although strong opening and whole continuous up moves but first 2 hours up moves were slow which is a selling indication and last 4 hours up moves in Broadening Pattern which is a reversal pattern therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about last Friday trading range(7328-7433) as well as possibility of some intraday volatility can not be ruled out. 

Conclusions (After Putting All Studies Together)

18 Months 4000 points strong rally from 28-08-2013(5118.85) to 04-03-2015(9119.20) and now its corrective Wave-'C' of 'ABC' correction continuation with recent bottom formation at 7241.50 on 20-01-2016 and no confirmation of its completion yet.

Last 5 sessions trading between 7242-7462 and following next resistances are lying just above it:-  

1- Resistances between 7504-7562
2- Resistances between 7552-7606
3- Resistances between 7614-7640

As little better supports at lower levels in previous week therefore Nifty will not easily sustain below previous week lowest and expected that Nifty will trade first 2/3 sessions between 7242-7640 for following next Short Term Trend:-

1- Slipping below 7242 will mean correction continuation towards 7104/6761.
2- Sustaining above 7640 will mean first indication of on going big correction completion and confirmation of strong Pull Back Rally. 

Live Proofs of Indian Stock Markets 100% Accurate Predictions

Although Yesterday closing was near the lower levels of the day but we told for Up moves at 07:24 PM yesterday in "Up moves above 7338 and towards 7504 are expected now"

Up moves above 7338 and towards 7504 are expected now

As was told 100% same happened and Nifty opened above 7338 at 7355.70 today.

Up moves Expectations above 7338

Intra Day Chart Analysis & Market Outlook

(22-01-2016)

Nifty-Intra Day Chart (21-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- Most time trading below 7338
2- Down moves in Bullish Falling Channels
3- Higher bottom formation
3- Whole day actual trading between 7250-7398

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Correction Continuation after follow up Selling" and repeated in both Outlooks of today:-

1- more than 4 hours Mixed Patterns between 7294-7338 today
2- Nifty will firstly trade within today trading range(7242-7338)
3- complete consolidation is required for on going big correction completion.

Although strong opening today but not sustaining at higher levels because as such lower levels consolidation could not develop and more than 4 hours trading with Mixed Patterns formations between 7294-7338 was seen yesterday. As complete consolidation was firstly required for decisive up moves and on going big correction completion therefore fresh consolidation in the form of Down moves in Bullish Falling Channels emerged below 7338 today.

"Nifty will firstly trade within today trading range(7242-7338)" was told yesterday and Nifty traded most time within 7250-7338 with consolidation patterns formations and  higher bottom formation today. As supports was seen between 7242-7270 also yesterday therefore Recent good supports formations will be understood between 7242-7338 and once valid break out of 7338 will mean Pull Back Rally towards following next resistances:-

1- Resistances between 7504-7562
2- Resistances between 7552-7606
3- Resistances between 7614-7640

Up moves above 7338 and towards 7504 are expected now and:- 

1- Firstly watch valid break out of 7242-7462 for next Short Term Trend confirmations.
2- Finally sustaining above 7640 will mean strong indication of correction completion.

Just Wait and Watch Valid Break Out of 7242-7462 for Next Short Term Trend Confirmations.

Post-open Outlook(21-01-2016)

When Dow Jones was trading more than 370 points down at 10:56 PM yesterday then told following line yesterday in "Correction Continuation after follow up Selling"

more than 4 hours Mixed Patterns between 7294-7338 today therefore expected that Nifty will firstly trade within today trading range(7242-7338)

When All the Asian markets were trading strong today morning then also we repeated following line at 08:58 AM today in "Pre-open Outlook(21-01-2016)"

2- more than 4 hours Mixed Patterns between 7294-7338 yesterday therefore expected that Nifty will firstly trade within yesterday trading range(7242-7338)

Although both highly Bullish and Bearish Global markets cues but we followed only our Indian intraday charts patterns formation,result is clear now that now Nifty is trading within mentioned trading range(7242-7338) with today lowest formation at 7323.95.

As huge Global markets volatility therefore just wait and watch valid break out of 7242-7462 for next Short Term Trend confirmations.

Pre-open Outlook(21-01-2016)

Following lines were told yesterday in "Correction Continuation after follow up Selling" and being repeated today because Asian markets are strong today morning and lower levels supports were also seen yesterday therefore positive opening of Indian markets will be seen today:-

1- for precaution valid breaking down of 7242 should be firstly watched today.
2- more than 4 hours Mixed Patterns between 7294-7338 yesterday therefore expected that Nifty will firstly trade within yesterday trading range(7242-7338)
3- correction continuation towards 7104/6761 is still expected after follow up selling within and near about yesterday trading range.

As Short Term indicators are oversold and Asian markets also signalling some Global markets recovery therefore just wait and watch for valid break out of 7242-7462 for next Short Term Trend confirmations.

Correction Continuation after follow up Selling 

Intra Day Chart Analysis & Market Outlook

(21-01-2016)

Nifty-Intra Day Chart (20-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours Mixed Patterns between 7294-7338
2- Lower levels supports between 7242-7270 
3- 65 Points recovery from lower levels in last hour.
4- Whole day actual trading between 7242-7338

Conclusions from intra day chart analysis 

As all Global markets were crashing and Dow's Futures was also trading more than 200 points down therefore huge gap down opening in Indian markets but lower levels supports and more than 4 hours Mixed Patterns between 7294-7338 today therefore expected that Nifty will firstly trade within today trading range(7242-7338).As some supports were seen above 7242 today therefore for precaution its valid breaking down should be firstly watched tomorrow for immediate decisive down moves confirmations but complete consolidation is required for on going big correction completion. 

Let complete consolidation develop then correction completion will be considered otherwise slipping below today lowest(7242) and correction continuation towards 7104/6761 is still expected after follow up selling within and near about today trading range. 

Pre-open Outlook(20-01-2016)

Although Nifty closed 84.10 points up yesterday but we were not Bullish because minor selling was also seen at higher levels and good resistances were lying above yesterday highest therefore we told following line yesterday in "Sideways Market for Next Trend Preparation"

Nifty will trade and prepare for next decisive moves between 7337-7562 in the coming 1/2 sessions

As Dow's Futures is more than 140 points down today morning and resultant Asian markets are 1% to 3% negative therefore much weaker opening will be seen in Indian markets also and valid break down of yesterday lowest(7337) will mean fresh down moves towards 7104/6761.

Sideways Market for Next Trend Preparation
Intra Day Chart Analysis & Market Outlook
(20-01-2016)

Nifty-Intra Day Chart (19-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7365-7378
2- Up moves with intraday consolidation
3- Minor selling between 7438-7462
4- Consolidation between 6409-6424
5- Whole day actual trading between 7365-7462

Conclusions from intra day chart analysis 

As whole day good intraday consolidation patterns formations yesterday therefore we were Bullish and told for Pull Back rally or Bounce back possibility in following topic yesterday despite closing was near the lower levels of the day yesterday:-

Pull Back rally or Bounce back possibility amid Correction continuation towards 7104

111 Points bounce back was seen with 84.10 points positive closing today 

Although good intraday consolidation patterns formations today but minor selling patterns were also seen at the higher levels of the day therefore follow up consolidation is firstly required for decisive up moves towards following next resistances:-

1- Resistances between 7504-7562
2- Resistances between 7552-7606
3- Resistances between 7614-7640

As continuous resistances between 7504-7640 therefore market has to consolidate completely for sustaining above 7640 and trend reversal strong signal as well.

Expected that Nifty will trade and prepare for next decisive moves between 7337-7562 in the coming 1/2 sessions.Let market prepare for next direction then will be updated according to intraday charts patterns formations in the coming sessions Outlooks,as being done for the last more than 5 years.

Live Proofs of Indian Stock Markets 100% Accurate Predictions

Although Yesterday closing was near the lower levels of the day but we told following lines for Bounce back possibility at 07:56 PM yesterday in "Pull Back rally or Bounce back possibility amid Correction continuation towards 7104":-

1- Pull Back rally or Bounce back possibility will be considered after today intraday consolidation despite today closing near the lower levels of the day. 
2- Pull Back rally or Bounce back possibility after some intraday consolidation patterns formations today.

As was told yesterday 100% same happened today and 41 points Nifty bounce back was seen in 1st minute of today trading.