Enjoy Profits Daily & Be Wealthy: 2012-11-11

Pre-Closing Outlook(16-11-2012)

As almost first 2 hours selling between 5636-5646 today therefore follow up consolidation and sustaining above 5646 was must and it was updated Mid-session Outlook-2 today.

As Indian Rupee weakened and now trading above 55.11 against $ as well as all European markets also forcefully down after sharp 60 points fall of Dow's Futures therefore sentiment depressed and Indian markets 36 sessions trading range(5583-5815) broken down

Finally sustaining below 5583 will mean deeper correction in next week.

Mid-session Outlook-2(16-11-2012)

Nifty moved above 5646 but without required force and confirmation is required through sustaining it above. Multiple resistances also above 5680 therefore consolidation is must for any decisive up move above it.

As lower levels consolidation,base formation and good supports between 5583-5630 therefore very short term up moves are expected but firstly confirmation is must through sustaining above 5646.

Mid-session Outlook(16-11-2012)

Nifty traded between 5603-5646 today and yesterday. Technical positions within this range are as follows:-

1- Supports between 5603-5615 yesterday.
2- Resistance between 5636-5646 today.

As supports between 5583-5615 also therefore next trends confirmation range is 5583-5646 for:

1- very short term up trend above 5646 or
2- Deep long term down trend below 5583 but after confirmation.

Post-open Outlook(16-11-2012)

As yesterday intraday charts showed lower levels supports between 5603-5615 with intraday consolidation patterns therefore positive market since opening today. As yesterday supports were between previous support range(5583-5615) therefore supports strengthened near 5600.

Follow up consolidation today and sustaining above 5615 will mean firstly very short term up moves between 36 sessions sideways trading range(5583-5815).

Technical Analysis and Market Outlook(16-11-2012)

Although US markets closed in Red yesterday but yesterday intraday charts showed lower levels supports and consolidation patterns also therefore positive market is expected today.

Pre-Closing Outlook(15-11-2012)

Intraday supports between previous support range(5583-5615) but selling patterns also seen today. Follow up moves tomorrow and finally sustaining beyond mentioned support range will decide next trend below or within 36 sessions trading range(5583-5815).

Technical Analysis and Market Outlook(15-11-2012)

Nifty-Intra Day Chart (Nov 12 & Nov 13,2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 2 Sessions intraday charts

1- Selling between 5672-5705
2- 2 Sessions actual trading between 5662-5705

Conclusions from 2 Sessions intra day chart analysis

35 Sessions sideways market and its detailed analysis have already been updated in Strong Big Moves after final Break Out on 10-11-2012.

Good resistances at higher levels and next supports are between 5583-5615 as well as complete consolidation is required for sustaining above mentioned supports.As intraday selling patterns seen in previous 2 sessions between 5672-5705 therefore more down moves are expected in the coming sessions.

Global cues are also weak today morning therefore testing of above next supports(5583-5615) is possible after gap down opening and sustaining it beyond should be firstly watched for next big trend confirmations.