Post-open Outlook(13-09-2013)

Although all the Asian were sufficiently down and SGX Nifty was also trading more than 60 points weak but Indian markets were not prepared for any side decisive moves therefore Nifty recovered strongly after formation of lowest at 5822.90. Following conclusive lines were told yesterday in previous Outlook and should be kept in mind:- 

Expected that Nifty will firstly trade and prepare for next decisive moves near about 5917-5924 and sustaining beyond this range should be firstly watched in the coming sessions for Long Term Trend confirmations.

Let market prepare for next trend within mentioned range then will be updated according to intraday charts formations.

Technical Analysis and Market Outlook(13-09-2013)

Nifty-Intra Day Chart (12-Sep-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Falling channel with both minor selling and some supports also.
2- Lower levels supports in last hour between 5917-5935 
3- Whole day actual trading between 5917-5904 

Conclusions from intra day chart analysis 

Following line was told yesterday in Emergence of Correction Possibility:-

1- more possibility of down moves below 5835 in the coming sessions.
2- possibility of firstly trading between today trading range(5835-5924)

As was told yesterday 100% same happened today and almost whole day down moves were seen as well as Nifty slipped below 5935,Nifty traded most time and closed within already mentioned range(5835-5924) also. 

Although more than 5 hours continuous down moves immediately after opening today but without as such selling patterns formations and it was updated also in both previous Outlooks resultant lower levels support in last hour and Nifty recovered more than 45 points.

Intermediate and Short Term Trends are up and Long Term Trend will be up after the confirmation of sustaining above its decider 200-Day EMA(today at 5734). As last 2 sessions trading between 5917-5924 with both selling and buying therefore firstly one sided positions formations are required for next decisive trend. Expected that Nifty will firstly trade and prepare for next decisive moves near about 5917-5924 and sustaining beyond this range should be firstly watched in the coming sessions for Long Term Trend confirmations.

Pre-closing Outlook(12-09-2013)

Although possibility of down moves below 5835 was told yesterday and now Nifty is trading below it also after formation of lowest at 5815.80 but sustaining below 5835 should be firstly watched tomorrow for decisive down moves confirmations because as such selling patterns not seen today.

Mid-session Outlook(12-09-2013)

Although most time negative zone trading today but as such selling not seen and some supports also seen at lower levels therefore mixed patterns formations today and yesterday between 5835-5924,follow up moves in the coming hours and finally valid break out of 5835-5924 will be firstly watched now for next immediate moves confirmations.

Post-open Outlook(12-09-2013)

Nifty started to trade in Red immediately after opening today but we told following lines for down moves yesterday in both previous Outlooks:- 

1- In Pre-closing Report(11-09-2013):-As more selling formations today therefore correction beginning possibilities turned alive today.
2- In Energence of Correction Possibility:- As more selling seen at higher levels today therefore more possibility of down moves below 5835 in the coming sessions.

Although possibility of down moves below 5835 was also told but follow up selling is also must therefore firstly Follow up technical positions formations in the coming hours and finally valid break out of 5835-5924 should be watched in the coming sessions for next immediate moves confirmations because minor support also seen at lower levels today.

Emergence of Correction Possibility

Technical Analysis and Market Outlook(12-09-2013)

Nifty-Intra Day Chart (11-Sep-2013):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 5878-5924
2- Support between 5835-5860 
3- Whole day actual trading between 5835-5924

Conclusions from intra day chart analysis 

Range bound trading today between 5835-5924 with higher levels selling and lower levels supports therefore possibility of firstly trading between today trading range(5835-5924) but more selling seen therefore emergence of correction beginning possibilities turned alive today. As selling is not sufficient today therefore more selling is required because complete selling is required for decisive down moves after 805 points strong rally in last 10 sessions. 

Follow up moves near about today trading range and finally sustaining beyond 5835-5924 should be watched in the coming sessions for next immediate moves confirmations. As more selling seen at higher levels today therefore more possibility of down moves below 5835 in the coming sessions.

Pre-closing Report(11-09-2013)

Range bound trading today between 5836-5924 with selling indications but not sufficient and more selling is required because complete selling is required for decisive down moves after 794 points strong rally in 9 sessions. Nifty is trading near the higher levels of today and some supports also seen at higher levels therefore firstly sustaining beyond 5836-5924 should be watched for next immediate moves confirmations. As more selling formations today therefore correction beginning possibilities turned alive today.

Mid-session Outlook(11-09-2013)

Nifty forcefully crossed Long Term Trend decider 200 Day EMA(today at 5731) yesterday and most time negative zone trading today after 594 points rally in 5 sessions therefore today trading will be understood only technical correction. As indicators are overbought therefore 1/2 sessions intraday correction is very much possible and being seen today but It is confirm that complete selling patterns are required for sustaining below 5731.

Nifty traded 3%(5902) above of 200 Day EMA(today at 5731) which is confirmation level of Long Term Trend turning up and firstly sustaining beyond 5902 should be watched in the coming 2/3 sessions for:-

1- 100% Confirmaton of all trends turning up above 5902 or
2- 1st Indication of again decisive down moves below 5902 but confirmation will be after sustaining below 5731.

As busy today therefore only Mid-session Outlooks will be updated today

As busy therefore Outlooks will not be updated today