Mid-session Outlook-2(17-01-2014)

6284 broken down forcefully and emergence of deeper correction possibility.

Mid-session Outlook(17-01-2014)

As selling therefore very Short Term Correction was was told yesterday and it is being seen since opening today through whole day negative zone trading but last more than 2 hours intraday patterns are showing consolidation patterns formations and lower levels supports as well therefore sustaining beyond 6284--6358 should be firstly watched for next immediate trend confirmations.

Technical Analysis and Market Outlook(17-01-2014)

Nifty-Intra Day Chart (16-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 6328-6346
2- Support between 6300-6312
3- Selling patterns formation between 6324-6332
4- Whole day actual trading between 6300-6346

Conclusions from intra day chart analysis 

Although some supports at lower levels but higher levels selling also seen today therefore very short term correction is expected in the coming sessions because:-

1- selling below 6325 on 14-01-2014
2- Today follow up selling within previous resistances between 6260-6358

RIL-Jan Put Option(880)-Positional-Buying Trade

RIL-Jan PE(880)-Buy-Positional-SL-6.90 & TGT-19.90-CMP-13.00(Lalit39)

Mid-session Outlook(16-01-2014)

As selling below 6325 yesterday therefore following line was told in previous Outlook yesterday:-

until Nifty will not sustain above today highest till then next up moves will not be considered.

As was told 100% same happened and Nifty could not sustain above 6325 and slipped below it immediately after opening today despite positive Global cues today morning

As some supports also seen at lower levels today therefore valid break out of today trading range(4300-4346) will ne next immediate moves confirmations.

BHARTI-Jan Put Option(320)-Positional Buying of 14-01-2014-Covering

BHARTI-Jan PE(320)-Bought on 14-01-2014-Target achieved,Cover and book profit immediately-CMP-6.40(Lalit39)

Technical Analysis and Market Outlook(16-01-2014)

Nifty-Intra Day Chart (15-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6307-6316.
2- Up moves in Bearish Rising Channel in last 2 hours.
3- Whole day actual trading between 6266-6325

Conclusions from intra day chart analysis 

Strong recovery from lower levels after strong global markets and improved WPI numbers but selling at higher levels and last 2 hours Up moves in Bearish Rising Channel also therefore until Nifty will not sustain above today highest till then next up moves will not be considered.

TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Although today closing near the highest of today but follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6325 should be firstly watched now for next moves 1st indication because today selling patterns were seen within strong resistances between 6260-6358.

Mid-session Outlook(15-01-2014)

As strong global markets and improved WPI numbers therefore strong recovery from lower levels after positive opening but selling also seen at higher levels within previous resistance range(6260-6358). TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6316 should be firstly watched now for next moves 1st indication.

Technical Analysis and Market Outlook(15-01-2014)

Nifty-Intra Day Chart (14-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6265-6278
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between 6234-6278

Conclusions from intra day chart analysis 

Firstly higher levels some selling but whole day down moves in Bullish Falling Channel also therefore mixed intraday patterns formation today and Indian markets are not prepared for any side decisive moves at this moment.

Last 24 sessions trading between 6130-6358 with following technical positions:-

1- Higher levels resistances between 6260-6358.
2- 5 Sessions trading between 6139-6239 with selling indications in previous week.
3- Firstly strong recovery and almost 6 hours trading between 6232-6256 on 13-01-2014 with the expectation of inflation reduction. 

As most time selling in last 24 sessions therefore deeper correction possibility should be kept in mind but firstly sustaining beyond 6232-6256(almost 6 hours trading range of yesterday) should be watched for next immediate short term moves confirmations because this range trading was after strong recovery.

BHARTI-Jan Put Option(320)-Positional-Buying Trade

Bharti-Jan PE(320)-Buy-Positional-SL-1.90 & TGT-6.40-CMP-3.30(Lalit39)

Mid-session Outlook(14-01-2014)

Intraday charts of today are showing selling patterns formations and firstly sustaining beyond 6232-6256(almost 6 hours trading range of yesterday) should be watched for next immediate short term trend confirmations. 

Technical Analysis and Market Outlook(14-01-2014)

Nifty-Intra Day Chart (13-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Almost 6 hours trading between 6232-6256
3- Whole day actual trading between 6190-6288

Conclusions from intra day chart analysis 

Although selling in previous week but strong recovery from lower levels seen immediately after opening and almost 6 hours 24 points range bound trading between 6232-6256 and its break out in last half hour seen today. As today up moves were on the expectations of rates reduction by RBI due to expected reduction in inflation today therefore sustaining beyond today most time trading range(6232-6256) should be firstly watched tomorrow for confirmations 

High possibility of slipping and sustaining below 6130

Technical Analysis,Research & Weekly Outlook

(Jan 13 to Jan 17,2014)

Nifty-EOD Chart (10-Jan-2014):-

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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- Correction beginning after Wave-v of Wave-3 terminating at 6358.30 on 02-01-2014. 
9- Correction continuation with recent bottom formation at 6139,60 on 10-01-2014.
10- Last 5 sessions sideways trading between 6140-6240.
11- 200-Day EMA(today at 5963). 
12- 29 Sessions actual trading between 6130-6415

Conclusions from EOD chart analysis 

Correction beginning after Wave-v of Wave-3 terminating at 6358.30 on 02-01-2014 and last 5 sessions sideways trading between 6140-6240,sustaining beyond this range will decide next immediate moves therefore should be firstly watched in the coming week. 

Nifty-Intra Day Chart (Jan 06 to Jan 10,2014):-

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Technical Patterns and Formations in last 5 Sessions intraday charts

1- Higher levels good selling in last 5 sessions.
2- Lower levels minor supports in last 5 sessions.
3- 5 Sessions actual trading between 6139-6239 

Conclusions from 5 Sessions intra day chart analysis 

Although lower levels minor supports but higher levels good selling in last 5 sessions therefore expected that finally Nifty will slip below 5 sessions lowest(6139).

Nifty-Intra Day Chart (10-Jan-2014):-

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Technical Patterns and Formations in today intraday charts

1- Support between 6140-6155
2- Up moves in Bearish Rising Channel.
3- Good selling between 6207-6239
4- Sharp down after 3 hours selling.
5- Whole day actual trading between 6140-6239

Conclusions from intra day chart analysis 

Highly volatile day after good quarterly results INFY with higher levels good selling and up moves in Bearish Rising Channel therefore finally Nifty will slip below the lowest(6139) of the day.  

Conclusions (After Putting All Studies Together)

Long and Intermediate Term Trends are up and Short Term trend turned down after steep fall from 6358.30 on 02-01-2014. Following levels will decide next trends:-

1- Intermediate Term Trend will be down after sustaining below 6130
2- Long Term Trend will be down after sustaining below 200-Day EMA(today at 5963)

9 Sessions sideways trading range(6260-6324) broken down after steep fall from 6358.30 on 02-01-2014 and Nifty sustained below it in previous week therefore its broken down confirmation.

Wave-v of Wave-3 has not shown shown force and moved up slowly as well as terminated after lower bottom formation at 6358.30 therefor emergence of its failure risk. As good selling in last 5 sessions therefore expected that finally Nifty will slip below 5 sessions lowest(6139) and high possibility of sustaining below 6130 as well as Intermediate Term Trend turning down risk.  Mostly Intermediate Term Trend remains continued from 3 weeks to 3 months therefore testing of 200-Day EMA(today at 5963) can not be ruled out in this trend.

Should be kept in mind that high possibility of slipping and sustaining below 6130 in next week.