Nifty-Intra Day Chart (Jun 12 to Jun 14,2013):-
Technical Patterns and Formations in last 3 Sessions intraday charts
1- Down moves in Bullish Falling Channel with consolidation Patterns and supports between 5741-5757 and Mixed Patterns between 5775-5792 on 12-06-2013.
2- Lower levels good consolidations and supports between 5683-5708 on 13-06-2013
3- Firstly consolidations patterns between 5768-5780 on 14-06-2013
4- 3 Hours slow up moves.
5- Slipping from higher levels after higher levels mixed patterns formations.
Conclusions from 3 Sessions intra day chart analysis
As most depressing Global cues therefore whole day negative zone trading on 13-06-2013 despite Whole day consolidations patterns formations on 12-06-2013 but as soon as sentiment improved on 14-06-2013 then Nifty jumped into the range of 12-06-2013 and crossed after follow up consolidations and closed above the top of 12-06-2013.
Although FFIs were net sellers in huge amount but intraday charts showed consolidations on 12 and 13 June therefore we only told for those up moves which were seen on 14 June. For live proofs of our predictions just click following topic links and verify on yours own:-
Technical Analysis and Market Outlook(13-06-2013)
Technical Analysis and Market Outlook(14-06-2013)
Good consolidations between 5683-5780 in last 3 sessions but slow up moves and higher levels mixed patterns between 5782-5819 on 14-06-2013 therefore follow up consolidations are required for sustaining above last Friday highest(5819).
Nifty-EOD Chart (14-Jun-2013):-
Technical Patterns and Formations in EOD charts
1- Wave-iv(5477.20 on 10-04-2013)
2- Wave-v of Wave-5(top formation at 6229.45 on 20-05-2013)
3- Corrective Wave-C of 'ABC' correction continuation.
4- Wave-C bottom formation at 5683.10(near about 61.8% retracement level) on 13-06-2013
5- Bounce back on 14-06-2013.
Conclusions from EOD chart analysis
'ABC' correction continuation after completion of Wave-v of Wave-5 and Wave-C bottom formaion at 5683.10 on 13-06-2013. As strong bounce back on 14-06-2013 after lower levels good consolidation 5683-5780 in last 3 sessions near about 61.8% retracement level and closing above Long Term Trend because decider 200 Day EMA(5766) therefore completion of Wave-C of 'ABC' will be considered. As slow up move and higher levels mixed patterns formations seen on 14-06-2013 therefore follow up consolidations is required for sustaining above 5766/5819.
Coming week will be Long Term Trend decider and firstly sustaining beyond 5766/5819 should be watched for next trend confirmations. As good lower level consolidation in previous week therefore complete selling is firstly required for slipping below the Bottom of Wave-C(5683.10) but follow up consolidation and once sustaining above 5819 will mean strong possility fresh up moves after correction completion near about Long Term Trend because decider 200 Day EMA(5766).
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel with consolidation Patterns and supports between 5741-5757 and Mixed Patterns between 5775-5792 on 12-06-2013.
2- Lower levels good consolidations and supports between 5683-5708 on 13-06-2013
3- Firstly consolidations patterns between 5768-5780 on 14-06-2013
4- 3 Hours slow up moves.
5- Slipping from higher levels after higher levels mixed patterns formations.
Conclusions from 3 Sessions intra day chart analysis
As most depressing Global cues therefore whole day negative zone trading on 13-06-2013 despite Whole day consolidations patterns formations on 12-06-2013 but as soon as sentiment improved on 14-06-2013 then Nifty jumped into the range of 12-06-2013 and crossed after follow up consolidations and closed above the top of 12-06-2013.
Although FFIs were net sellers in huge amount but intraday charts showed consolidations on 12 and 13 June therefore we only told for those up moves which were seen on 14 June. For live proofs of our predictions just click following topic links and verify on yours own:-
Technical Analysis and Market Outlook(13-06-2013)
Technical Analysis and Market Outlook(14-06-2013)
Good consolidations between 5683-5780 in last 3 sessions but slow up moves and higher levels mixed patterns between 5782-5819 on 14-06-2013 therefore follow up consolidations are required for sustaining above last Friday highest(5819).
Nifty-EOD Chart (14-Jun-2013):-
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| Just click on chart for its enlarged view |
1- Wave-iv(5477.20 on 10-04-2013)
2- Wave-v of Wave-5(top formation at 6229.45 on 20-05-2013)
3- Corrective Wave-C of 'ABC' correction continuation.
4- Wave-C bottom formation at 5683.10(near about 61.8% retracement level) on 13-06-2013
5- Bounce back on 14-06-2013.
Conclusions from EOD chart analysis
'ABC' correction continuation after completion of Wave-v of Wave-5 and Wave-C bottom formaion at 5683.10 on 13-06-2013. As strong bounce back on 14-06-2013 after lower levels good consolidation 5683-5780 in last 3 sessions near about 61.8% retracement level and closing above Long Term Trend because decider 200 Day EMA(5766) therefore completion of Wave-C of 'ABC' will be considered. As slow up move and higher levels mixed patterns formations seen on 14-06-2013 therefore follow up consolidations is required for sustaining above 5766/5819.
Conclusions (After Putting All Studies Together)
Coming week will be Long Term Trend decider and firstly sustaining beyond 5766/5819 should be watched for next trend confirmations. As good lower level consolidation in previous week therefore complete selling is firstly required for slipping below the Bottom of Wave-C(5683.10) but follow up consolidation and once sustaining above 5819 will mean strong possility fresh up moves after correction completion near about Long Term Trend because decider 200 Day EMA(5766).
No guessing,never gossiping and whatsoever market suggest,only that is updated. Next trend deciding levels have been posted above,let follow up technical formations develop then will be updated accordingly.