Pre-closing Outlook(27-12-2013)

Following conclusions from today charts were told in both previous Outlooks:-

1- up moves since 09:30 AM are in Bearish Rising Channel therefore next rally confirmation is must through sustaining above 6319
2- Next moves confirmations through sustaing beyond 6304-6319 was told 

Although Nifty moves above 6319 but could not sustain and slipped and now trading within mentioned range at 6312 after high formation at 6324.90 because Bearish Rising Channel and expected that Nifty will firstly slip below 6304 in next week. 
   

Mid-session Outlook-2(27-12-2013)

Although strong market today but up moves since 09:30 AM are in Bearish Rising Channel therefore next rally confirmation is must through sustaining above 6319.

Mid-session Outlook(27-12-2013)

As selling yesterday and consolidation was must for decisive up moves therefore sideways trading between 6304-6319 after strong break out of last 3 sessions range. Sustaing beyond this range will be confirmation of:-

1- Valid break out of last 3 sessions range above 6319 and resultant strong rally in next week.
2- False break out of last 3 sessions range below 6304 and resultant firstly down moves and deeper correction confirmation will be below 6260.

Post-open Outlook(27-12-2013)

Forceful  break out of last 3 sessions range does mean  high possibility of rally continuation after 3 sessions sideways correction completion and confirmation will be after sustaining above 6302 and should be firstly watched today.

Technical Analysis and Market Outlook(27-12-2013)

Nifty-Intra Day Chart (26-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- High volatility
2- First 2 hours trading with with Bearish Rising Channel.
3- Selling between 6284-6292 
4- Whole day trading between 6260-6302

Conclusions from intra day chart analysis 

First 2 hours trading with with Bearish Rising Channel and selling patterns formations also between 6284-6292 therefore following lines were told in Mid-session Outlook at 01:01 PM today:-

1- now trading also near the highest levels of today but some indications of selling today
2- next up moves confirmations will be after valid break out above 6292.

As selling therefore Nifty could not sustain above 6292 and closed below it at 6,278.90. Until Nifty will not sustain above 6292 till then next up move will not be considered and valid break out of today trading range(6260-6302) should also be firstly watched for next immediate moves confirmations because technical positions reversed also in today like highly volatile markets.

Pre-closing Outlook(26-12-2013)

As selling at higher levels today therefore Nifty did not sustaining at higher levels and slipped but high volatility today and until Nifty will not sustaining above 6292 till then next up move will not be considered because selling seen just below it today and selling was updated also in previous Outlook at 01:01 PM today.

Mid-session Outlook(26-12-2013)

Positive zone trading since opening and now trading also near the highest levels of today but some indications of selling today therefore next up moves confirmations will be after valid break out above 6292.

Technical Analysis and Market Outlook(26-12-2013)

Nifty-Intra Day Chart (24-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours trading between 6281-6301.
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between 6262-6301.

Conclusions from intra day chart analysis 

Whole day range bound trading between 39 points with firstly more than 4 hours trading between 6281-6301 and without as such selling patterns formations despite  afterward down moves and closing near the lowest levels of the day. As down moves in Bullish Falling Channel and first 4 hours trading is also not showing as such intraday selling patterns therefore generation of  consolidation signals also in a negaive zone closing day. 

Indian markets are not prepared for any side decisive moves and will have to prepare for next trend between 6230-6380 in the coming sessions for next huge moves. Let market prepare for next trend then will be updated according to the confirmations from the intraday charts formations and for confirmations sustaining beyond following ranges should be watched:-

1- 6230-6380(For first strong indications of next trend)
2- 6130-6380(For the confirmations of next trend)

Mid-session Outlook(24-12-2013)

Following lines were told yesterday in Technical Analysis and Market Outlook(24-12-2013):-

1- Indian markets are not prepared for any side decisive moves and 
2- will firstly prepared for next trend between 6230-6380 in the coming sessions for next huge moves. 

As was told same happened and markets traded and preparing for next decisive moves within mentioned range since opening today. Although Nifty slipped from higher levels but not showing as such selling patterns and is a signal of consolidation as well. Now sustaining beyond following ranges should be watched:-

1- 6230-6380(For first strong indications of next trend)
2- 6130-6380(For the confirmations of next trend)

Technical Analysis and Market Outlook(24-12-2013)

Nifty-Intra Day Chart (23-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6267-6315
2- Sharp down moves in last hour. 
3- Whole day actual trading between 6272-6315

Conclusions from intra day chart analysis 

Although  intraday correction through sharp down moves in last hour but its possibility was updated well before its happening and following line was told at 11:56 AM in Mid-session Outlook:-

some indications of profit booking today therefore emergence of minor intraday correction possibility

Next strong resistances are between 6350-6380 and follow up selling seen below this range between 6267-6315 today but impulsive Wave-3 continuation and all trends are up as well as market is not prepared for deeper correction because only one day today selling after good consolidations in previous week. 

As complete selling is also required for any big correction and more consolidation is also required for sustaining above 6315 and 6380 therefore Indian markets are not prepared for any side decisive moves and will firstly prepared for next trend between 6230-6380 in the coming sessions for next huge moves. 

Expected that finally Nifty will sustain above 6380 and decisive strong rally will be seen after follow up consolidations in the coming sessions/week. Let market prepare then will be updated according to the completion of intraday charts formations in the same manner as being done for the last more than 4 years.

Mid-session Outlook-3(23-12-2013)

Following lines were told at 11:56 AM in Mid-session Outlook:-

1- More than 2 hours positive zone trading between 6288-6310
2- some indications of profit booking today therefore emergence of minor intraday correction possibility

As some indications of profit booking today therefore Nifty slipped below 6288 and if sustains below it only then very Short Term correction will be considered.

Mid-session Outlook-2(23-12-2013)

Quiet range bound market between 6288-6310 since opening and preparing for next blast today because next strong resistances are between 6350-6380 and market require complete consolidations for decisive and strong rally above 6380 as well as complete selling is also required for any big correction. Let market prepare then will be updated according to the completion of intraday charts formations and valid break out of 6288-6310 will be very Short Term trend first signal therefore should be firstly watched now.
    

Mid-session Outlook(23-12-2013)

More than 2 hours positive zone trading between 6288-6310 with some indications of profit booking today therefore emergence of minor intraday correction possibility and valid break out of this range will be very Short Term trend first signal.

Rally continuation towards 6724.60

Technical Analysis,Research & Weekly Outlook

(Dec 23 to Dec 27,2013)

Nifty-EOD Chart (20-Dec-2013):-

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Technical Patterns and Formations in EOD charts

1- Rally beginning after 13 Months Wave-2 correction completion at 4531.15 on 20-12-2011.
2- Wave-1(5629.95 on 22-02-2012)
3- Wave-2(4770.35 on 04-06-2012)
4- Wave-3(6111.80 on 29-01-2013)
5- Wave-4(5477.20 on 10-04-2012)
6- Wave-5(6229.45 on 20-05-2013)('ABC'Correction beginning after 17 Months Rally completion)
7- Wave-A(5566.25 on 24-06-2013)
8- Wave-B(6093.35 on 23-07-2013)
9- Wave-C(5118.85 on 28-08-2013)('ABC'Correction completion after 3 Months correction completion)
10- Strong Rally continuation and new all time high formation at 6415.25 on 09-12-2013.

Conclusions from EOD chart analysis 

Strong Rally is on after ABC'Correction completion on 28-08-2013,Waves structure of this rally with following conclusions has already been updated 15-12-2013 in "Nifty at Most Crucial and Strong Support Range";-

1- 6141-6156 has become most crucial strong support range and consolidation pattern formation just above it on 13-12-2013
2- emergence of correction completion possibility near about mentioned range 

As was told on 15-12-2013 all that proved 100% accurate in previous week and Nifty reversed from 6129.95 after getting support just below 6141 and weekly closing was at the highest of the week after correction completion.

Nifty-EOD Chart (20-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-i of Wave-3(6342.95 on 03-11-2013)
5- Wave-ii of Wave-3(5972.45 on 13-11-2013)
6- Wave-iii of Wave-3(6415.25 on 09-12-2013)
7- Wave-iv of Wave-3(6129.95 on 18-12-2013)
8- Wave-v of Wave-3 continuation with recent top formation at 6274.25 on 20-12-2013.  

Conclusions from EOD chart analysis 

Long and Intermediate Term Trends were up and Short Term turned up after correction completion confirmation on 20-12-2013. Now all trends are up and Wave-3 continuation towards minimum target of Nifty at 6724.60. Its calculation has already been updated in following topic on 21-10-2013:-
 

Minimum target of Nifty at 6724.60

Conclusions (After Putting All Indicators Together)

Strong rally last Friday after good consolidation above 6130 in previous week therefore until complete selling will not happen till then Nifty will not slip below 6130.As no selling seen at higher levels in previous week therefore no risk of immediate down moves but some resistances up to all time high(6415.25) therefore follow up consolidation is required in next week for sustaining above it.

Rally continuation towards 6724.60 is expected in the coming weeks after follow up consolidations.