As big selling patterns formations between 6636-6673 yesterday and consolidation was firstly must for any decisive up moves above 6673 therefore most time trading and preparation for next moves between this range today. Although slipping from higher levels and new intraday lowest formation 15 minutes before at 6643.80 but as such selling patterns were not seen today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(28-03-2014)
Nifty-Intra Day Chart (27-Mar-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6636-6673
2- Whole day actual trading between 6600-6673
Although today closing in Green but big selling patterns formations also seen today therefore generation of a correction signal today. It should also be kept in mind that Bull market complete its correction at higher levels consolidation or side ways market also therefore until complete selling will not develop and any crucial support will not break down till then deeper correction will not seen.
All trends are up and rally continuation but correction is due also. Let selling process complete then will be updated according to final positions formations and till then rally continuation may be seen with lesser force also.
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| Just click on chart for its enlarged view |
1- Selling between 6636-6673
2- Whole day actual trading between 6600-6673
Conclusions from intra day chart analysis
Although today closing in Green but big selling patterns formations also seen today therefore generation of a correction signal today. It should also be kept in mind that Bull market complete its correction at higher levels consolidation or side ways market also therefore until complete selling will not develop and any crucial support will not break down till then deeper correction will not seen.
All trends are up and rally continuation but correction is due also. Let selling process complete then will be updated according to final positions formations and till then rally continuation may be seen with lesser force also.
Nifty Spot-Levels & Trading Strategy for 28-03-2014
Nifty Spot-Levels
R3 6750
R2 6711
R1 6676
Avg 6637
S1 6602
S2 6563
S3 6528
Nifty Spot-Trading Strategy
H6 6715 Trgt 2
H5 6698 Trgt 1
H4 6681 Long breakout
H3 6661 Go Short
H2 6654
H1 6647
L1 6634
L2 6627
L3 6620 Long
L4 6600 Short Breakout
L5 6583 Trgt 1
L6 6566 Trgt 2
R3 6750
R2 6711
R1 6676
Avg 6637
S1 6602
S2 6563
S3 6528
Nifty Spot-Trading Strategy
H6 6715 Trgt 2
H5 6698 Trgt 1
H4 6681 Long breakout
H3 6661 Go Short
H2 6654
H1 6647
L1 6634
L2 6627
L3 6620 Long
L4 6600 Short Breakout
L5 6583 Trgt 1
L6 6566 Trgt 2
Nifty(Apr Fut)-Levels & Trading Strategy for 28-03-2014
Nifty(Apr Fut)-Levels
R3 6772
R2 6745
R1 6714
Avg 6687
S1 6656
S2 6629
S3 6598
Nifty(Apr Fut)-Trading Strategy
H6 6741 Trgt 2
H5 6728 Trgt 1
H4 6714 Long breakout
H3 6698 Go Short
H2 6693
H1 6688
L1 6677
L2 6672
L3 6667 Long
L4 6651 Short Breakout
L5 6637 Trgt 1
L6 6624 Trgt 2
R3 6772
R2 6745
R1 6714
Avg 6687
S1 6656
S2 6629
S3 6598
Nifty(Apr Fut)-Trading Strategy
H6 6741 Trgt 2
H5 6728 Trgt 1
H4 6714 Long breakout
H3 6698 Go Short
H2 6693
H1 6688
L1 6677
L2 6672
L3 6667 Long
L4 6651 Short Breakout
L5 6637 Trgt 1
L6 6624 Trgt 2
Bank Nifty(Apr Fut)-Levels & Trading Strategy for 28-03-2014
Bank Nifty(Apr Fut)-Levels
R3 13109
R2 12988
R1 12857
Avg 12736
S1 12605
S2 12484
S3 12353
Bank Nifty(Apr Fut)-Trading Strategy
H6 12981 Trgt 2
H5 12923 Trgt 1
H4 12865 Long breakout
H3 12796 Go Short
H2 12773
H1 12750
L1 12703
L2 12680
L3 12657 Long
L4 12588 Short Breakout
L5 12530 Trgt 1
L6 12472 Trgt 2
R3 13109
R2 12988
R1 12857
Avg 12736
S1 12605
S2 12484
S3 12353
Bank Nifty(Apr Fut)-Trading Strategy
H6 12981 Trgt 2
H5 12923 Trgt 1
H4 12865 Long breakout
H3 12796 Go Short
H2 12773
H1 12750
L1 12703
L2 12680
L3 12657 Long
L4 12588 Short Breakout
L5 12530 Trgt 1
L6 12472 Trgt 2
FII & DII trading activity in Capital Market Segment on 27-Mar-2014
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Pre-closing Outlook(27-03-2014)
When Nifty was trading at 6638 then at 01:35 PM then following line was told today in Mid-session Outlook-2:-
All trends are up and rally continuation as well as correction is due but until complete selling will not develop till then correction will not be seen. Some selling was seen yesterday and again some selling also seen today but high volatility today. As technical positions reverses amid such volatility therefore fresh positions formation is firstly required and let it happen then final view will be updated.
last 2 hours intraday charts are showing selling patterns formations
As selling therefore Nifty could not sustain at and higher levels and slipped,just now traded at 6625.
All trends are up and rally continuation as well as correction is due but until complete selling will not develop till then correction will not be seen. Some selling was seen yesterday and again some selling also seen today but high volatility today. As technical positions reverses amid such volatility therefore fresh positions formation is firstly required and let it happen then final view will be updated.
Mid-session Outlook-2(27-03-2014)
Although now trading near the higher levels of the day but last 2 hours intraday charts are showing selling patterns formations also.
Mid-session Outlook(27-03-2014)
As some selling was seen at higher levels yesterday therefore March derivative expiry was expected below 6627 but good recovery from lower levels and now trading above 6627. As Bull markets consolidate at higher levels also therefore expiry above 6627 can not be ruled out because good recovery from lower levels also seen in all Asian markets in last 1/2 hours.
Technical Analysis and Market Outlook(27-03-2014)
Nifty-Intra Day Chart (26-Mar-2014):-
Technical Patterns and Formations in today intraday charts
1- First 5 hours trading with mixed patterns formations between 6606-6627
2- Consolidation between 6581-6595
3- Whole day actual trading between 6581-6627
Whatsoever happened today all that was told yesterday in Technical Analysis and Market Outlook(26-03-2014):-
1- Intraday charts of today are showing some selling indications
2- therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction
3- if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595
As huge gap up opening was not seen today and intraday correction as well as consolidation was must therefore it was seen and Nifty slipped below 6595 and consolidated below it between 6581-6595. 11 sessions range(6433-6574) was broken out on 24-03-2014 but some selling was also seen above it in last 2 sessions therefore some more consolidation is required for the validity of range break out.
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1- First 5 hours trading with mixed patterns formations between 6606-6627
2- Consolidation between 6581-6595
3- Whole day actual trading between 6581-6627
Conclusions from intra day chart analysis
Whatsoever happened today all that was told yesterday in Technical Analysis and Market Outlook(26-03-2014):-
1- Intraday charts of today are showing some selling indications
2- therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction
3- if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595
As huge gap up opening was not seen today and intraday correction as well as consolidation was must therefore it was seen and Nifty slipped below 6595 and consolidated below it between 6581-6595. 11 sessions range(6433-6574) was broken out on 24-03-2014 but some selling was also seen above it in last 2 sessions therefore some more consolidation is required for the validity of range break out.
As some selling was seen below 6627 therefore expected that March derivative expiry will not be seen above it and Nifty will trade and prepare for next decisive moves between 6566-6627 in the coming sessions.
FII & DII trading activity in Capital Market Segment on 26-Mar-2014
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Nifty Spot-Levels & Trading Strategy for 27-03-2014
Nifty Spot-Levels
R3 6672
R2 6649
R1 6625
Avg 6602
S1 6578
S2 6555
S3 6531
Nifty Spot-Trading Strategy
H6 6648 Trgt 2
H5 6637 Trgt 1
H4 6626 Long breakout
H3 6613 Go Short
H2 6609
H1 6605
L1 6596
L2 6592
L3 6588 Long
L4 6575 Short Breakout
L5 6564 Trgt 1
L6 6553 Trgt 2
R3 6672
R2 6649
R1 6625
Avg 6602
S1 6578
S2 6555
S3 6531
Nifty Spot-Trading Strategy
H6 6648 Trgt 2
H5 6637 Trgt 1
H4 6626 Long breakout
H3 6613 Go Short
H2 6609
H1 6605
L1 6596
L2 6592
L3 6588 Long
L4 6575 Short Breakout
L5 6564 Trgt 1
L6 6553 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 27-03-2014
Nifty(Mar Fut)-Levels
R3 6692
R2 6666
R1 6639
Avg 6613
S1 6586
S2 6560
S3 6533
Nifty(Mar Fut)-Trading Strategy
H6 6665 Trgt 2
H5 6653 Trgt 1
H4 6641 Long breakout
H3 6626 Go Short
H2 6621
H1 6616
L1 6607
L2 6602
L3 6597 Long
L4 6582 Short Breakout
L5 6570 Trgt 1
L6 6558 Trgt 2
R3 6692
R2 6666
R1 6639
Avg 6613
S1 6586
S2 6560
S3 6533
Nifty(Mar Fut)-Trading Strategy
H6 6665 Trgt 2
H5 6653 Trgt 1
H4 6641 Long breakout
H3 6626 Go Short
H2 6621
H1 6616
L1 6607
L2 6602
L3 6597 Long
L4 6582 Short Breakout
L5 6570 Trgt 1
L6 6558 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 27-03-2014
Bank Nifty(Mar Fut)-Levels
R3 12717
R2 12664
R1 12607
Avg 12554
S1 12497
S2 12444
S3 12387
Bank Nifty(Mar Fut)-Trading Strategy
H6 12661 Trgt 2
H5 12636 Trgt 1
H4 12611 Long breakout
H3 12581 Go Short
H2 12571
H1 12561
L1 12540
L2 12530
L3 12520 Long
L4 12490 Short Breakout
L5 12465 Trgt 1
L6 12440 Trgt 2
R3 12717
R2 12664
R1 12607
Avg 12554
S1 12497
S2 12444
S3 12387
Bank Nifty(Mar Fut)-Trading Strategy
H6 12661 Trgt 2
H5 12636 Trgt 1
H4 12611 Long breakout
H3 12581 Go Short
H2 12571
H1 12561
L1 12540
L2 12530
L3 12520 Long
L4 12490 Short Breakout
L5 12465 Trgt 1
L6 12440 Trgt 2
Pre-closing Outlook(26-03-2014)
Following lines were told yesterday in Technical Analysis and Market Outlook(26-03-2014)
1- Intraday charts of today are showing some selling indications therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction.
2- if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595
1- Intraday charts of today are showing some selling indications therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction.
2- if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595
As huge gap up opening was not not today therefore intraday correction was must and it was seen with lowest formation at 6580.60. Fresh selling seen between 6610-6627 today therefore fresh consolidation is required for rally continuation and March derivative expiry will not be seen above 6627.
Mid-session Outlook-2(26-03-2014)
As Nifty could not sustain above intraday lowest of previous outlook therefore correction continuation
Mid-session Outlook(26-03-2014)
Whole day positive zone trading after gap up opening because strong Global cues but sharp fall from from higher levels and new intraday lowest formation because higher levels selling was seen yesterday and consolidation was also also required. As some supports and cosolidation also seen at lower levels in last half hour therefore sustaining above today lowest will mean rally continuation after higher levels consolidations.
Technical Analysis and Market Outlook(26-03-2014)
Nifty-Intra Day Chart (Mar 24 & Mar 25,2014)
Technical Patterns and Formations in last 2 Sessions intraday charts
1- 2 Sessions most time trading 6566-6595
3- 2 Sessions actual trading between 6511-6595
Last 2 sessions most time trading within 33 points between 6566-6599 means taking positions for next big moves within range bound market. As more than 12 hours sideways trading therefore it is like accumulations of explosives and sustaining beyond or forceful break out of this range will mean explosion of 100 Nifty points.
Intraday charts of today are showing some selling indications therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction. Although Dow Jones is now trading 110 points up and all the European markets are also more than 1% up at this moment therefore emergence of boosted sentiments possibility tomorrow morning if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595.
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1- 2 Sessions most time trading 6566-6595
3- 2 Sessions actual trading between 6511-6595
Conclusions from 2 Sessions intra day chart analysis
Last 2 sessions most time trading within 33 points between 6566-6599 means taking positions for next big moves within range bound market. As more than 12 hours sideways trading therefore it is like accumulations of explosives and sustaining beyond or forceful break out of this range will mean explosion of 100 Nifty points.
Intraday charts of today are showing some selling indications therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction. Although Dow Jones is now trading 110 points up and all the European markets are also more than 1% up at this moment therefore emergence of boosted sentiments possibility tomorrow morning if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595.
Nifty Spot-Levels & Trading Strategy for 26-03-2014
Nifty Spot-Levels
R3 6659
R2 6627
R1 6608
Avg 6576
S1 6557
S2 6525
S3 6506
Nifty Spot-Trading Strategy
H6 6640 Trgt 2
H5 6628 Trgt 1
H4 6617 Long breakout
H3 6603 Go Short
H2 6598
H1 6593
L1 6584
L2 6579
L3 6574 Long
L4 6560 Short Breakout
L5 6549 Trgt 1
L6 6537 Trgt 2
R3 6659
R2 6627
R1 6608
Avg 6576
S1 6557
S2 6525
S3 6506
Nifty Spot-Trading Strategy
H6 6640 Trgt 2
H5 6628 Trgt 1
H4 6617 Long breakout
H3 6603 Go Short
H2 6598
H1 6593
L1 6584
L2 6579
L3 6574 Long
L4 6560 Short Breakout
L5 6549 Trgt 1
L6 6537 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 26-03-2014
Nifty(Mar Fut)-Levels
R3 6645
R2 6627
R1 6616
Avg 6598
S1 6587
S2 6569
S3 6558
Nifty(Mar Fut)-Trading Strategy
H6 6634 Trgt 2
H5 6627 Trgt 1
H4 6620 Long breakout
H3 6612 Go Short
H2 6610
H1 6607
L1 6602
L2 6599
L3 6597 Long
L4 6589 Short Breakout
L5 6582 Trgt 1
L6 6575 Trgt 2
R3 6645
R2 6627
R1 6616
Avg 6598
S1 6587
S2 6569
S3 6558
Nifty(Mar Fut)-Trading Strategy
H6 6634 Trgt 2
H5 6627 Trgt 1
H4 6620 Long breakout
H3 6612 Go Short
H2 6610
H1 6607
L1 6602
L2 6599
L3 6597 Long
L4 6589 Short Breakout
L5 6582 Trgt 1
L6 6575 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 26-03-2014
Bank Nifty(Mar Fut)-Levels
R3 12747
R2 12660
R1 12573
Avg 12486
S1 12399
S2 12312
S3 12225
Bank Nifty(Mar Fut)-Trading Strategy
H6 12661 Trgt 2
H5 12621 Trgt 1
H4 12581 Long breakout
H3 12533 Go Short
H2 12517
H1 12501
L1 12470
L2 12454
L3 12438 Long
L4 12390 Short Breakout
L5 12350 Trgt 1
L6 12310 Trgt 2
R3 12747
R2 12660
R1 12573
Avg 12486
S1 12399
S2 12312
S3 12225
Bank Nifty(Mar Fut)-Trading Strategy
H6 12661 Trgt 2
H5 12621 Trgt 1
H4 12581 Long breakout
H3 12533 Go Short
H2 12517
H1 12501
L1 12470
L2 12454
L3 12438 Long
L4 12390 Short Breakout
L5 12350 Trgt 1
L6 12310 Trgt 2
Pre-closing Outlook(25-03-2014)
More than 11 hours trading between 6566-6591 means accumulations of explosives and expectations of 100 Nifty points explosions with next 2 sessions.
Forceful break out or sustaining beyond 6566-6591 will be confirmation.
Mid-session Outlook(25-03-2014)
Following conclusive line was told yesterday in Technical Analysis and Market Outlook(25-03-2014)
Nifty traded most time between 6574-6592 today and preparing for next decisive moves. Next moves beyond 6566-6591 have already been updated in above mentioned topic and should be firstly watched.
Firstly sustaining beyond 6566-6591 should be watched tomorrow
Nifty traded most time between 6574-6592 today and preparing for next decisive moves. Next moves beyond 6566-6591 have already been updated in above mentioned topic and should be firstly watched.
Technical Analysis and Market Outlook(25-03-2014)
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1- Almost 6 hours sideways trading between 6566-6591
2- Whole day actual trading between 6511-6591
Conclusions from intra day chart analysis
As all the Asian markets were in Green and some markets were more than 1% up therefore firstly positive opening and after that almost 6 hours sideways trading between 6566-6591. Last 11 sessions between 6433-6574 and Nifty hovered around its highest level(6574) but not given break out confirmation of 11 sessions range. As today up moves were Bullish sentiment led due to strong Asian markets therefore break out confirmation is must through sustaining above 6574 because fresh selling/short covering possibility can not be ruled out on the back of boosted sentiments.
Firstly sustaining beyond 6566-6591 should be watched tomorrow for:-
1- Strong rally above 6591
2- Sideways market between 6433-6591 below 6566.
Nifty Spot-Levels & Trading Strategy for 25-03-2014
Nifty Spot-Levels
R3 6693
R2 6642
R1 6612
Avg 6561
S1 6531
S2 6480
S3 6450
Nifty Spot-Trading Strategy
H6 6664 Trgt 2
H5 6646 Trgt 1
H4 6627 Long breakout
H3 6605 Go Short
H2 6597
H1 6590
L1 6575
L2 6568
L3 6560 Long
L4 6538 Short Breakout
L5 6519 Trgt 1
L6 6501 Trgt 2
R3 6693
R2 6642
R1 6612
Avg 6561
S1 6531
S2 6480
S3 6450
Nifty Spot-Trading Strategy
H6 6664 Trgt 2
H5 6646 Trgt 1
H4 6627 Long breakout
H3 6605 Go Short
H2 6597
H1 6590
L1 6575
L2 6568
L3 6560 Long
L4 6538 Short Breakout
L5 6519 Trgt 1
L6 6501 Trgt 2
Nifty(Mar Fut)-Levels & Trading Strategy for 25-03-2014
Nifty(Mar Fut)-Levels
R3 6707
R2 6659
R1 6628
Avg 6580
S1 6549
S2 6501
S3 6470
Nifty(Mar Fut)-Trading Strategy
H6 6677 Trgt 2
H5 6659 Trgt 1
H4 6641 Long breakout
H3 6619 Go Short
H2 6612
H1 6605
L1 6590
L2 6583
L3 6576 Long
L4 6554 Short Breakout
L5 6536 Trgt 1
L6 6518 Trgt 2
R3 6707
R2 6659
R1 6628
Avg 6580
S1 6549
S2 6501
S3 6470
Nifty(Mar Fut)-Trading Strategy
H6 6677 Trgt 2
H5 6659 Trgt 1
H4 6641 Long breakout
H3 6619 Go Short
H2 6612
H1 6605
L1 6590
L2 6583
L3 6576 Long
L4 6554 Short Breakout
L5 6536 Trgt 1
L6 6518 Trgt 2
Bank Nifty(Mar Fut)-Levels & Trading Strategy for 25-03-2014
Bank Nifty(Mar Fut)-Levels
R3 12885
R2 12677
R1 12566
Avg 12358
S1 12247
S2 12039
S3 11928
Bank Nifty(Mar Fut)-Trading Strategy
H6 12782 Trgt 2
H5 12706 Trgt 1
H4 12630 Long breakout
H3 12542 Go Short
H2 12513
H1 12484
L1 12425
L2 12396
L3 12367 Long
L4 12279 Short Breakout
L5 12203 Trgt 1
L6 12127 Trgt 2
R3 12885
R2 12677
R1 12566
Avg 12358
S1 12247
S2 12039
S3 11928
Bank Nifty(Mar Fut)-Trading Strategy
H6 12782 Trgt 2
H5 12706 Trgt 1
H4 12630 Long breakout
H3 12542 Go Short
H2 12513
H1 12484
L1 12425
L2 12396
L3 12367 Long
L4 12279 Short Breakout
L5 12203 Trgt 1
L6 12127 Trgt 2
FII & DII trading activity in Capital Market Segment on 24-Mar-2014
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Pre-closing Outlook(24-03-2014)
All the Asian markets closed in Green and 3 markets closed more than 1% up therefore firstly fast up and after that most time trading near about 6574. As today rally is sentiment generated therefore sustaining above 6574 is must tomorrow for next strong rally after 12 sessions range(6433-6574) break out.
Mid-session Outlook(24-03-2014)
As strong resistances below 6574 therefore Nifty is hovering around 6574 for the last more than 2 hours and preparing for next decisive moves,sustaining it beyond should be firstly watched for next trend confirmations because today fast up moves were strong Asian markets generated also.
Post-open Outlook(24-03-2014)
All the Asian markets are in Green and some are more than 1% up therefore sentiment boosted and rally continuation in Indian markets. As selling below 6574 in previous weeks therefore higher levels consolidation is must and once sustaining above 6574 after follow up consolidation will mean rally toward following next targets:-
1- 6647.60
2- 6724.60
1- 6647.60
2- 6724.60
NIFTY-Mar F&O-Positional Shorting of 22-03-2014-Message
NIFTY Mar F&O(Fut Selling & 6500 PE Buying on 22-03-2014)-Stong Asian markets & Indian markets will be volatile.Hold and cover after my covering message
Technical Analysis,Research & Weekly Outlook(Mar 24 to Mar 28,2014)
Nifty-EOD Chart (22-Mar-2014):-
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(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation
7- 11 Sessions most time trading between 6433-6574
Nifty-Intra Day Chart (Mar 07 to Mar 22,2014):-
Technical Patterns and Formations in last 11 Sessions intraday charts
1- Higher levels good selling
2- Supports between 6433-6447
3- 11 Sessions most time trading between 6433-6574
Long and Intermediate Term trends are up but Short Term Trend is side ways for the last 11 sessions between 6433-6574. impulsive Wave-3 continuation towards more all time higher levels but indicators are overbought and suggesting correction possibility. It should be kept in mind that Bullish markets complete its correction time wise also and some times price wise correction is not seen.
Expected that Nifty will firstly trade and prepare for next decisive moves within 11 sessions range. As last 11 sessions intraday charts are showing more selling at higher levels therefore possibility of slipping towards lower levels of 11 sessions range and deeper correction will be considered after sustaining below 6433.
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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(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation
7- 11 Sessions most time trading between 6433-6574
Nifty-Intra Day Chart (Mar 07 to Mar 22,2014):-
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| Just click on chart for its enlarged view |
1- Higher levels good selling
2- Supports between 6433-6447
3- 11 Sessions most time trading between 6433-6574
Conclusions (After Putting All Studies Together)
Long and Intermediate Term trends are up but Short Term Trend is side ways for the last 11 sessions between 6433-6574. impulsive Wave-3 continuation towards more all time higher levels but indicators are overbought and suggesting correction possibility. It should be kept in mind that Bullish markets complete its correction time wise also and some times price wise correction is not seen.
Expected that Nifty will firstly trade and prepare for next decisive moves within 11 sessions range. As last 11 sessions intraday charts are showing more selling at higher levels therefore possibility of slipping towards lower levels of 11 sessions range and deeper correction will be considered after sustaining below 6433.
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