Very Short Term correction expectations

Intra Day Chart Analysis & Market Outlook

(28-04-2017)

Nifty-Intra Day Chart (27-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel
3- Support between 9335-9343
4- Selling between 9356-9366

Conclusions from intra day chart analysis 

Although some consolidation and supports also between 9335-9343 but sufficiently good selling was seen today therefore Very Short Term correction is expected in the coming sessions.

Intra Day Chart Analysis & Market 
Outlook(27-04-2017)

Nifty-Intra Day Chart (26-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 4 Hours trading with Mixed Patterns formations between 8339-8367
2- High volaility in last hour
3- Whole day actual trading between 8302-8367

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day but 4 Hours today trading was with Mixed Patterns formations and high volatility in last hour also therefore some more consolidation is firstly required between and near about today trading range for decisive up moves above today highest because one sided clear intraday patterns were not seen today.

27 Sessions trading was seen 9020-9274 and this range was broken out on 25-04-2017 and previous 2 sessions closing was above it. 3 Sessions closing above 9274 will be technically break out confirmation,its happening tomorrow will mean fresh big rally after 27 sessions like big range break out confirmations.

Expected that rally will remain continued but after follow up consolidation between 8302-8367 which should also be watched tomorrow.

Firstly Watch sustaining beyond 27 sessions trading range for Next big moves confirmations

Intra Day Chart Analysis & Market Outlook

(25-04-2017)

Nifty-Intra Day Chart (24-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Positive opening after Dow's Futures trading more than 130 points up.
2- Whole day up moves after French news led Dow's Futures gaining 200 points and all European markets gaining 2% to more than 4%.
3- Whole day actual trading between 9131-9225

Conclusions from intra day chart analysis

As following news since today morning therefore whole day up moves after positive opening today:-

1- French stocks head for 9-year high after Macron win eases ‘Frexit’ fears
2- Dow industrials set to rocket up 200 points higher on relief over French vote

(Just click above topic links and go through whole news)

As whole day today up moves were due to global cues of easing ‘Frexit’ fears and as such no specific intraday trading pattern formations therefore firstly sustaining above previous 27 sessions trading range(9020-9274) highest is required because multiple resistances are lying above today highest and 9274.

Only Global cues led intraday up moves within previous 27 sessions trading range(9020-9274) today and finally sustaining it beyond should be watched in the coming sessions for next big moves because that will more than 27 sessions like big sideways market break out.

Post-open Outlook(24-04-2017)

As Dow's Futures is trading more than 130 points up today morning therefore up moves after positive opening today but sufficiently good selling was seen between 9148-9165 last Friday therefore firstly sustaining it beyond should be watched for next decisive moves confirmation.

Next big moves confirmation from next last Supports

Intra Day Chart Analysis & Market Outlook

(24-04-2017)

Nifty-Intra Day Chart (21-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 3 hours selling between 9148-9165
2- Last hour up moves in Bearish Rising Channel
3- Whole day actual trading between 9089-9180

Conclusions from intra day chart analysis 

As sufficiently good selling last Friday therefore correction continuation is expected towards next last supports(9025-9040) of previous 26 sessions trading range(9020-9274) and finally sustaining beyond these supports will confirm next big moves because that will more than 26 sessions like big sideways market break out.

Intra Day Chart Analysis & Market 
Outlook(20-04-2017)

Nifty-Intra Day Chart (19-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Most time trading with Mixed Patterns formations between 9076-9114 
2- Last hour up moves
3- Whole day actual trading between 9076-9120

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day after last hour up moves but most time trading with Mixed Patterns formations between 9076-9114 therefore Nifty has to prepare for next decisive moves within and near about this range and finally sustaining it beyond will confirm next trend which should be firstly watched tomorrow.

Next Big moves confirmations from last supports range 

Intra Day Chart Analysis & Market Outlook

(19-04-2017)

Nifty-Intra Day Chart (18-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Strong 78 points Pullback Rally in first hour
2- 2 Hours sideways trading between 9202-9217
3- Last 3 hours down moves after Weakness in all European markets and sharp decline in Dow's Futures  
4- Whole day actual trading between 9096-9217

Conclusions from intra day chart analysis 

Following lines were told in previous Outlook on 16-04-2017 in "Firstly Watch next Supports amid Pull Back Rally expectations":-

emergence Pull Back Rally expectations

As was told 100% same happened and strong 78 points Pullback Rally in first hour today

Following lines with supports were told on 11-04-2017 in "Correction Continuation towards next supports":-

now Nifty will be understood sideways between 9020-9274. 

1- 9148-9166
2- 9110-9124
3- 9025-9040

Previous Outlooks on home page are live proofs of this fact that we started to tell for correction from 03-04-2017 and that started immediately after that as well as still in continuation. Sideways market between 9020-9274 was also updated with above mentioned 3 supports and Nifty closed below 2nd supports range today. 

Certainly correction continuation within 24 sessions trading range(9020-9274) and finally sustaining it beyond will generate big moves,last supports range within it are between 9025-9040 which should be firstly watched for it confirmations. 

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

Firstly Watch next Supports amid Pull Back Rally expectations

Intra Day Chart Analysis & Market Outlook

(17-04-2017)

Nifty-Intra Day Chart (13-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 9183-9193
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 9145-9193

Conclusions from intra day chart analysis 

Although firstly good selling between 9183-9193 but after that most time consolidation also through Down moves in Bullish Falling Channels therefore emergence Pull Back Rally expectations because Very Short Term indicators have also turned oversold. 

Following supports were updated on 12-04-2017 in "Correction continuation towards next supports":-

1- 9148-9166
2- 9110-9124
3- 9025-9040

Nifty closed within 1st supports range at 9150.80 last Thursday and firstly its valid break out should be watched in next week for the life of on going correction.

Correction continuation towards next supports 

Intra Day Chart Analysis & Market Outlook

(13-04-2017)

Nifty-Intra Day Chart (12-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Sharp down after 20 minutes positive zone trading
2- Selling patterns formation between 9184-9191
3- Selling patterns formation between 9212-9226
4- Whole day actual trading between 9162-9246

Conclusions from intra day chart analysis 

Although most Asian markets were weak today morning but Indian markets out performed and opened positive and traded also 20 minutes in Green. As selling at higher levels in previous sessions therefore sharply down 80 points in only 30 minutes. Sufficiently good selling was also seen in last 5 hours today therefore correction continuation is expected below today lowest(9162) and towards following next supports:-

1- 9148-9166
2- 9110-9124
3- 9025-9040

Firstly Watch levels for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(12-04-2017)

Nifty-Intra Day Chart (11-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Strong recovery from lower levels 
2- Mixed Patterns between 9217-9242 
3- Whole day actual trading between 9173-9242

Conclusions from intra day chart analysis 

Although all the Asian markets were trading weak but Indian markets out performed and opened flat as well as strongly recovered from lower levels. As last more than 5 hours trading with Mixed Patterns formations between 9217-9242 which was within next resistances between 9226-9250 therefore valid break out of 9217-9250 should be firstly watched tomorrow for strong signal of correction completion above 9250 and correction continuation below 9217.

Correction Continuation towards next supports

Intra Day Chart Analysis & Market Outlook

(11-04-2017)

Nifty-Intra Day Chart (10-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Previous closing at 9198.30
2- Only up and down moves without any specific position formations
3- Whole day actual trading between 9175-9225

Conclusions from intra day chart analysis 

As only up and down moves above and below previous closing without any specific position formations therefore no view can be formed only from today intraday trading patterns formations and conclusions will be drawn from other following studies:-

1- 14 Sessions trading range(9020-9191) was broken out on 03-04-2017.
2- Immediate supports range just above 14 sessions trading range were between 9193-9210.
3- Nifty slipped below immediate supports range but closed within it at 9198.30 last Friday.
4- Nifty closed below immediate supports range within 14 Sessions trading range at 9181.45 today.

As Nifty could not sustain above 14 sessions trading range and closed within it today therefore its break out on 03-04-2017 will be understood a false signal and now Nifty will be understood sideways between 9020-9274. 

Correction were told in all the previous 4 outlooks and it is being seen. Let complete consolidation develop then on going correction completion will be considered and till then its continuation can not be ruled out towards following next supports within 14 sessions trading range:-

1- 9148-9166
2- 9110-9124
3- 9025-9040

Firstly watch  crucial supports for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(10-04-2017)

Nifty-Intra Day Chart (07-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 9226-9250
2- Down moves in last hour
3- Whole day actual trading between 9189-9250

Conclusions from intra day chart analysis 

Very Short Term correction expectations were updated in all the previous 3 outlooks and it was seen also after follow up selling last Friday. Following lines were told on 06-04-2017 in "Firstly watch next supports for today started correction continuation/completion":-

1- view will not be Bullish.
2- follow up selling tomorrow will mean slipping towards next supports(9193-9210) which has turned most crucial because its valid break down will mean entering into  previous 14 sessions trading range(9020-9191)

Nifty slipped below above mentioned  most crucial next supports(9193-9210) but closed within it at 9198.30 last Friday therefore it is still intact. As no signal of on going correction completion yet therefore firstly sustaining beyond mentioned crucial supports should be watched in the beginning of next week for the life of on going correction. 

As almost 5 hours intraday selling between 9226-9250 and it will be sufficiently strong resistance therefore follow up selling tomorrow will result correction continuation within  previous 14 sessions trading range(9020-9191) and until Nifty will not sustain above 99250 after complete consolidation till then decisive up moves will not be seen. 

Firstly watch next supports for today started correction continuation/completion

Nifty-Intra Day Chart (Apr 05 & Apr 06,2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 2 Sessions intraday charts

1- Whole day up moves in Bearish Rising Channel on 05-04-2017
2- Selling between 9234-9245 on 06-04-2017
3- Support between 9220-9230 on 06-04-2017
4- Up moves with seling patterns in last hour
5- 2 Sessions actual trading between 9220-9274 

Conclusions from 2 Sessions intra day chart analysis 

As whole day up moves in Bearish Rising Channel on 05-04-2017 therefore weak opening today and selling also between 9234-9245 in first hour today. Some supports are seen at lower levels of the day today but last up moves were with selling patterns in last hours therefore view will not be Bullish.

Very Short Term correction expectations was updated in both previous Outlooks and it was seen today after intraday selling patterns in both previous sessions. As some intraday support was seen between 9220-9230 today therefore firstly its valid break down should be watched tomorrow for today started correction continuation/completion.

As sufficient selling was seen in both previous sessions therefore once follow up selling tomorrow will mean slipping towards next supports(9193-9210) which has turned most crucial because its valid break down will mean entering into  previous 14 sessions trading range(9020-9191) and correction continuation possibility within this range.

Firstly watch above mentioned following next supports for today started correction continuation/completion:-

1- 9220-9230
2- 9193-9210

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

Finally rally continuation amid Very Short Term correction expectations

Intra Day Chart Analysis & Market Outlook

(05-04-2017)

Nifty-Intra Day Chart (03-Apr-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 2 hours consolidation between 9193-9210
2- Last hours up moves with intraday corrections and consolidation
3- Whole day actual trading between 9193-9245

Conclusions from intra day chart analysis 

As selling in last hours on 31-03-2017 and Short Term Indicators have turned over bought therefore firstly Very Short Term correction was expected last Monday but gap up opening was seen last Monday because some Asian markets were trading strong and heavy weight Reliance Industries opened more than 2% up. 

Firstly more than 2 hours consolidation was seen after slipping below 9200 because last hours selling was seen between 9177-9191 on 31-03-2017. As last hours up moves with intraday corrections and consolidation last Monday therefore finally rally continuation is expected because previous 14 sessions trading range(9020-9191) also broken out. It should be kept in mind that Short Term Indicators have turned over bought and Very Short Term correction may be seen any day after some intraday selling which will be good for the strength of on going rally.

Emergence of Very Short Term correction expectations

Intra Day Chart Analysis & Market Outlook

(03-04-2017)

Nifty-Intra Day Chart (31-Mar-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 9153-9170
2- Last hours selling elling between 9177-9191 
3- Whole day actual trading between 9153-9191

Conclusions from intra day chart analysis 

As firstly more than 4 hours trading with Mixed Patterns formations and after that selling in last hours also therefore some down moves are expected in the beginning of next week. Last 14 sessions trading between 9020-9191 and Short Term Indicators have turned over bought also therefore emergence of Very Short Term correction expectations within this range in next week.

On going rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(31-03-2017)

Nifty-Intra Day Chart (30-Mar-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 4 hours Down moves in Bullish Falling Channel
2- Derivative expiry led last hours volatility 
3- Whole day actual trading between 9141-9183

Conclusions from intra day chart analysis 

Although fast slipping from higher levels in last 5 minutes but it will be understood a part of derivative expiry led last hours volatility only and on going rally continuation is expected because more than 4 hours Down moves were also seen in Bullish Falling Channel.

Up moves continuation expectations

Intra Day Chart Analysis & Market Outlook

(30-03-2017)

Nifty-Intra Day Chart (29-Mar-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 5 Hours sideways trading within 30 points between 9110-9140
1- Consolidation between 9110-9124
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 9110-9153

Conclusions from intra day chart analysis 

Firstly 5 hours sideways trading within 30 points between 9110-9140 with lower levels consolidation and slipping from higher levels also which were due to oppositions parties arguments during GST debate in Lok Sabha. As Down moves were in Bullish Falling Channels therefore up moves were seen in last hour and its continuation is also expected. 

As busy therefore Stock Market Outlook of today is not being updated but Mid-session Outlook may be posted during trading hours.

Still rally continuation  expectations above last 10 sessions trading range highest

Intra Day Chart Analysis & Market Outlook

(28-03-2017)

Nifty-Intra Day Chart (27-Mar-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Minor selling between 9072-9087
2- Consolidation between 9025-9040
3- Down moves in Bullish Falling Channel 
4- Whole day actual trading between 9025-9087

Conclusions from intra day chart analysis 

As following reasons therefore slipping fast after weak opening:-

1- Dow's Futures weaker trading by more than 120 points.
2- Reliance Industries shares crashing as Sebi curbs its futures trading
3- Skymet Weather has predicted that the upcoming Southwest Monsoon 2017 is likely to be below normal.

Following lines were told yesterday in "Finally rally after follow up consolidation":-

finally rally will be seen after follow up consolidation within last 9 sessions trading range(9020-9186)

Following lines were told on 22-03-2017 in "Finally rally continuation expectations after follow up consolidation within and above gap support ":-

1- gap between 8976-9062 and this gap is next strong support of Nifty.
2- Still expected that finally rally will remain continued after follow up consolidation within and above mentioned gap support

As today deeper down moves were due to above mentioned negative news and Nifty got support within last 10 sessions trading range(9020-9186) at 9024.65 therefore same Still same view that finally rally will remain continued above last 10 sessions trading range highest(9186) after follow up consolidation within and above mentioned gap support.