Quiet sideways market with higher levels selling and lower levels supports also between 6231-6243 and no clear indication from today intraday charts. Next trend confirmation will be after sustaining beyond 6155-6301.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(06-12-2013)
More than 4 hours flat sideways market with selling between 6250-6265 today and view is cautious.
Technical Analysis and Market Outlook(06-12-2013)
Nifty-Intra Day Chart (05-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- Bullish Falling Channel formations in whole day down moves.
2- Whole day actual trading between 6232-6300.
As Exit Poll results showed BJP victory will be with good gains on next Sunday and emergence of strong,economic growth oriented Govt.formation possibility after Parliament Election next year under the leadership of Shri Narendra Modi therefore huge gap up opening today. Good selling in previous 3 sessions below 6228 therefore consolidation was required and it was seen today through higher levels continuous down moves in Bullish Falling Channel.
Impulsive Wave-3 is on,all trends are up and Rally continuation towards 6724.60 therefore market showed as such enthusiasm today after first strong signal of stable union Govt. possibility in 2014. As market showed higher levels consolidation after huge gap up opening therefore today started rally continuation is expected in the coming sessions and weeks.
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| Just click on chart for its enlarged view |
1- Bullish Falling Channel formations in whole day down moves.
2- Whole day actual trading between 6232-6300.
Conclusions from intra day chart analysis
As Exit Poll results showed BJP victory will be with good gains on next Sunday and emergence of strong,economic growth oriented Govt.formation possibility after Parliament Election next year under the leadership of Shri Narendra Modi therefore huge gap up opening today. Good selling in previous 3 sessions below 6228 therefore consolidation was required and it was seen today through higher levels continuous down moves in Bullish Falling Channel.
Impulsive Wave-3 is on,all trends are up and Rally continuation towards 6724.60 therefore market showed as such enthusiasm today after first strong signal of stable union Govt. possibility in 2014. As market showed higher levels consolidation after huge gap up opening therefore today started rally continuation is expected in the coming sessions and weeks.
Mid-session Outlook-2(05-12-2013)
As Exit Poll results showed BJP victory will be with good gains on next Monday and emergence of strong Govt.formation possibility after Parliament Elections in next year under the leadership of economic growth oriented Prime Minister Modi therefore huge gap up opening today. Good selling in previous 3 sessions below 6228 therefore higher levels consolidation through continuous down moves in Bullish Falling Channel and recent lowest formation at 6232.
As higher levels consolidation seen today therefore today started rally continuation is expected.
Mid-session Outlook(05-12-2013)
Modi factor works and huge gap up opening seen after 1st strong indication of BJP clear victory possibility in 4 states and 2014 Lok Sabha Election from Exit Poll results yesterday. Not only gap up opening but sustaining at higher levels and consolidating also therefore today started rally continuation is expected.
Pre-open Outlook(05-12-2013)
As emergence of BJP clear victory possibility in 4 states from Exit Poll results yesterday therefore higher levels consolidation is possible after strong opening. Sustaining above 6228 should be firstly watched today for next up moves confirmations because good selling seen below it in previous 3 sessions.
Mid-session Outlook-2(04-12-2013)
When Nifty was trading flat at 01:41 PM then we cautioned through following line in previous Outlook:-
Nfty traded 30 points down after slipping from higher levels few minutes before. Next strong support is at 6158 and sustaining below it will mean sharp fall.
higher levels selling in previous 2 sessions and follow up selling today also therefore view is cautious despite now flat trading
Mid-session Outlook(04-12-2013)
Although up moves seen after lower levels supports in first hour but higher levels selling also seen today. As higher levels selling in previous 2 sessions and follow up selling today also therefore view is cautious despite now flat trading after good recovery from lower levels and sustaining above today lowest(6180).
Post-open Outlook(04-12-2013)
As US and European markets closed in Red yesterday and most Asian markets were trading in negative zone therefore sentiment turned dampened today morning and weaker Indian markets since opening today but out performing also and only .25% down while some other Global markets were in Deep Red. Lower levels supports also seen today therefore it is first signal of consolidation and sustaining above today lowest(6180) will mean high possibility of strong markets tomorrow after Exit Poll results in the evening today.
Technical Analysis and Market Outlook(04-12-2013)
Nifty-Intra Day Chart (03-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- Follow up selling at higher levels.
2- Down moves in Bullish Falling Channel
3- Lower levels supports
3- Whole day actual trading between 6191-6224
As higher levels seen yesterday therefore only selling and down moves were told in all 3 Outlooks of yesterday and most time negative zone trading seen today. Higher levels follow up selling also seen today but down moves in Bullish Falling Channel and lower levels supports also seen therefore mixed trading patterns formations today and sustaining beyond previous 2 sessions trading range(6191-6228) should be firstly watched tomorrow for those next moves confirmations which have already been updated in following topic yesterday.
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| Just click on chart for its enlarged view |
1- Follow up selling at higher levels.
2- Down moves in Bullish Falling Channel
3- Lower levels supports
3- Whole day actual trading between 6191-6224
Conclusions from intra day chart analysis
As higher levels seen yesterday therefore only selling and down moves were told in all 3 Outlooks of yesterday and most time negative zone trading seen today. Higher levels follow up selling also seen today but down moves in Bullish Falling Channel and lower levels supports also seen therefore mixed trading patterns formations today and sustaining beyond previous 2 sessions trading range(6191-6228) should be firstly watched tomorrow for those next moves confirmations which have already been updated in following topic yesterday.
Pre-closing Outlook(03-12-2013)
Same views which have already been updated in all 4 previous Outlooks.
Mid-session Outlook(03-12-2013)
Only selling and down moves were told in all 3 previous Outlooks yesterday and most time negative zone trading seen today. As follow up selling seen today therefore very short term correction is expected now.
Technical Analysis and Market Outlook(03-12-2013)
Nifty-Intra Day Chart (02-Dec-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6215-6228
3- Whole day actual trading between 6193-6228
Although closing near the higher levels of the day but today intraday charts are showing higher levels selling therefore some down moves are expected tomorrow. Sustaining beyond today trading range will be next moves first indication and should be firstly watched tomorrow for:-
1- Very Short Term correction below 6193 or
2- Rally continuation above 6228.
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| Just click on chart for its enlarged view |
1- Selling between 6215-6228
3- Whole day actual trading between 6193-6228
Conclusions from intra day chart analysis
Although closing near the higher levels of the day but today intraday charts are showing higher levels selling therefore some down moves are expected tomorrow. Sustaining beyond today trading range will be next moves first indication and should be firstly watched tomorrow for:-
1- Very Short Term correction below 6193 or
2- Rally continuation above 6228.
Pre-closing Report(02-12-2013)
Although closing the higher levels of the day but today intraday charts are showing higher levels selling indications therefore sustaining beyond today trading range will be next moves first indication and should be firstly watched tomorrow.
Mid-session Outlook(02-12-2013)
Although now near the higher levels of the day at this moment but today intraday charts are showing selling indications therefore some volatility may be seen between today trading range(6172-6228) and very short term correction will be considered below 6172
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