Mid-session Outlook(13-12-2013)

 Correction continuation after gap down opening but in Bullish Falling Channel with recent low formation at 6171 and firstly sustaining beyond next support(6156) will watched for correction continuation / completion because next week will react on following events and market has to prepare for that also:-

1- WPI DATA
2- RBI Credit Policy
3- FOMC meet with fear of tapering

Pre-open Outlook(13-12-2013)

As US markets closed with sufficient losses after negative news of CPI and IIP numbers therefore sentiment is depressed today morning and Gap down opening will be seen. Correction continuation and sustaining beyond next support(6156) should be watched now for correction continuation / completion.

Technical Analysis and Market Outlook(13-12-2013)

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

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours trading between 6254-6270 with consolidation indications.
2- Sharp down in last half hour.
3- Whole day actual trading between 6232-6270

Conclusions from intra day chart analysis 

Although Sharp down in last half hour and closing near the lows of the day despite consolidation indications from intraday charts between 6254-6270. As today down moves were without as such selling therefore sustaining below 6254 should be firstly watched tomorrow for next trend confirmations because Indian and all Global markets were down today on the back of QE-3 tapering fear in FOMC meet in next week.

Pre-closing Outlook(12-12-2013)

Although consolidation indications and emergence of up moves expectations but sharp fall also seen therefore correction continuation and until complete consolidation will not seen till then up moves will not seen because all the Global markets are in Red and fear of tapering in FOMC meet in next week.

Mid-session Outlook(12-12-2013)

Although most time negative zone trading between 6254-6270 but intraday charts are showing consolidation indications and emergence of up moves expectations.

Post-open Outlook(12-12-2013)

As all Asian markets turned negative after Red closing of US markets therefore weak Indian markets and trading below 6280 despite good consolidation above it yesterday. Today down moves are depressed sentiment affected and sustaining below 6280 should be firstly watched for next down moves confirmations.

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

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel.
2- Consolidation between 6280-6298
3- Whole day actual trading between 6280-6326

Conclusions from intra day chart analysis 

As down moves in Bullish Falling Channel and good consolidation at lower levels therefore until Nifty will not sustain below the lowest of today till next down moves will not be considered. All trends are up but very short term correction continuation after all time high formation on 09-12-2013. As lower levels good consolidations today therefore once sustaining above today lowest(6280) will mean rally continuation after very short term correction completion. 

As US markets are trading in deep Red at this moment therefore sentiment may be weak tomorrow morning and firstly sustaining beyond today lowest(6280) should be watched tomorrow for next trend confirmation but expected that rally will be seen after sustaining above 6280.

Mid-session Outlook(11-12-2013)

All trends are up but very short term correction continuation after all time high formation on 09-12-2013. As lower levels good consolidations today therefore firstly sustaining beyond today lowest(6283) should be watched for next trend confirmation.

Technical Analysis and Market Outlook(11-12-2013)

Nifty-Intra Day Chart (10-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6338-6354 
2- Lower levels supports.
2- Up moves in Bearish Rising Channel.
3- Whole day actual trading between 6308-6362

Conclusions from intra day chart analysis 

All trends are up but sentiment is heated due to all time high formations yesterday and resultant profit booking seen today. As lower levels supports also seen at lower levels therefore mixed positions formation today and sustaining beyond today trading range(6308-6362) should be firstly watched tomorrow for next immediate move confirmations.

As busy in a marriage therefore Outlooks will not be updated today.

Pre-closing Outlook(09-12-2013)

6 Hours quiet range bound market after positive news led huge Gap up opening. As today intraday charts are showing consolidation indications therefore rally continuation is expected in the coming sessions.

Mid-session Outlook(09-12-2013)

Hugh gap up opening after BJP victory in Assembly elections yesterday and new all time high formation today. Although slipping from higher levels but it is only intraday correction and Wave-3 rally continuation is expected.

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

Nifty-EOD Chart (06-Dec-2013):-

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 Technical Patterns and Formations in EOD charts

1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-3(6342.95 on 03-11-2013 and 'ABC' correction beginning)
5- Wave-A(5972.45 on 13-11-2013)
6- Wave-B(6212.40 on 19-11-2013)
7- Wave-C(5972.80 on 22-11-2013)
8- Descending Triangle formations in last 23 sessions with top formation at 6342.95 and bottom formation at 5972.45.  

Conclusions from EOD chart analysis

Wave-3 continuation after 'ABC' correction completion but Descending Triangle formations in last 23 sessions with top formation at 6342.95 and bottom formation at 5972.45. As last 23 sessions trading were under the shadow of 5 states Assembly polls with both lower levels consolidations and higher levels selling therefore sustaining beyond 5972.45-6342.95 will be next trend confirmations and should be firstly watched in next sessions after BJP big victory in Election results today.