Pre-closing Outlook(06-06-2014)

Although new all time high formation today but more than 5 hours  up moves were without required force and within bearish Rising Channel also therefore break out confirmation is must through sustaining above 7543/7563 after follow up consolidations.

Mid-session Outlook-2(06-06-2014)

Although Nifty is now .77% up after gap up opening and whole day positive zone trading but today intradau charts are showing selling patterns formations also therefore firstly consolidation and after that sustaining above 7543 is must for next decisive rally after formation of new all time high.

Mid-session Outlook(06-06-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(06-06-2014):-

Expected that Nifty will firstly trade between resistance range(7450-7563) tomorrow and volatility with intraday correction will also be seen.

Following intraday chart of today is proving that what so ever was told yesterday all that proved 100% accurate today in first 2 hours of today trading:-

As some selling was also seen today therefore consolidation is firstly required and valid break out of today trading range(7498-7535) and finally 7450-7563 should be watched for next immediate decisive trend confirmations but finally rally continuation is expected above 7563

Technical Analysis and Market Outlook(06-06-2014)

Nifty-Intra Day Chart (05-Jun-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day without force up moves in Expanding Triangle
2- Whole day actual trading between 7360-7484

Conclusions from intra day chart analysis 

All trends are up and closing at all time high but Whole day without force up moves in Expanding Triangle and closing between last resistance range(7450-7563) therefore some more consolidation is firstly required for next decisive rally above all time highest( 7563.50). Expected that Nifty will firstly trade between resistance range(7450-7563) tomorrow and volatility with intraday correction will also be seen.

As next resistance range(7450-7563) is lying therefore follow up consolidation is must and once fresh consolidation within this range will mean strong rally above all time high in the coming weeks and it is expected also. 

Pre-closing Outlook(05-06-2014)

Rally continuation after lower levels supports above 7415 today and now trading between last resistance range(7450-7563). As slow up moves and intraday indicators are overbought therefore some volatility and minor intraday correction is possible but finally rally continuation is expected.

Mid-session Outlook(05-06-2014)

Following lines were told in Mid-session Outlook on 03-06-2014:-

1- Selling seen today just below immediate next strong resistances and once valid break out of today lowest(7343) will mean correction continuation 
2- As Indian markets are Bullish and some times Bullish markets consolidate at higher levels also without giving deeper correction 
3- firstly sustaining beyond today trading range(7343-7424)should be watched 

Selling was told on 03-06-2014 and since then Nifty traded below its highest yesterday and today. As trading with mixed patterns formations and lower levels supports above 7415 today therefore sustaining beyond following ranges watched for next immediate trend confirmations:-

1- 7415-7424
2- 7343-7424

Mid-session Outlooks will be updated today.

As busy today therefore Blog will be updated tomorrow.

Mid-session Outlook(03-06-2014)

Although up moves seen after RBI Credit policy but selling patterns formations also seen in following ranges:-

1- Selling between 7372-7390
2- Selling between 7404-7424

Next Resistances are as follows:-

1- Resistances between 7372-7390(Strong)
2- Resistances between 7450-7563(Moderately strong) 

Selling seen today just below immediate next strong resistances and once valid break out of today lowest(7343) will mean correction continuation towards lowest(7082) of last 15 sessions trading range. As Indian markets are Bullish and some times Bullish markets consolidate at higher levels also without giving deeper correction  therefore firstly sustaining beyond today trading range(7343-7424)should be watched tomorrow.

Technical Analysis and Market Outlook(03-06-2014)

Nifty-Intra Day Chart (02-Jun-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day up moves.
2- Last 3 hours up moves in Bearish Rising Channel. 
3- Whole day actual trading between 7239-7368.

Conclusions from intra day chart analysis 

Whole day up moves after flat opening but last 3 hours up moves in Bearish Rising Channel also therefore follow up consolidation is firstly required tomorrow because next immediate resistances are just above today trading range:-

1- Resistances between 7358-7432
2- Resistances between 7450-7563

At present Indian markets will be understood side ways between 7082-7563 and Outlook will remain Bullish because strong recovery seen today after 4 previous sessions consolidation patterns formation which is a strong signal of 14 sessions correction completion. 

Mid-session Outlook(02-06-2014)

Following lines were told in almost all the Outlooks of previous sessions

intraday patterns of last 4 sessions are showing consolidation patterns formations despite down moves therefore signals of consolidation process continuation and emergence of fresh up moves expectations also after on going correction completion.

Up moves expectations was told because consolidation process was seen in last 4 sessions and Nifty crossed last 4 sessions trading highest(7345.60) within first 4 hours trading of today. Accuracy of our above projection will be clear from live proof of following intraday chart of last 4 sessions and today:-

First Resistance(7293-7319) has been crossed and multiple resistances are above 7358 therefore complete consolidation is required for decisive rally above 7563. Although side ways market is expected in some more sessions but finally rally is expected above 7563 as being told continuously. 

Nifty heading towards next 10% Moves

Technical Analysis,Research & Weekly Outlook

(Jun 02 to Jun 06,2014)

Nifty-EOD Chart (30-May-2014):-

Just click on chart for its enlarged view

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(7563.50 on 16-05-2014)
7- Wave-iv of Wave-3(14 Sessions sideways correction between 7082-7563)

Conclusions from EOD chart analysis

Long and Intermediate Term Trends are up,Short Term Trend is down and Nifty is sideways between 7082-7563 for the last 14 sessions. Just ckick following topic link which was posted on 19-05-2014 and understand its technical reasons:-

Sideways Market between 7082-7563

Nifty-Intra Day Chart (30-May-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channel
2- Whole day actual trading between 7215-7272

Conclusions from intra day chart analysis

Whole day down moves in Bullish Falling Channel with flat closing on 30-05-2014 but intraday patterns of last 4 sessions are showing consolidation patterns formations despite down moves therefore signals of consolidation process continuation and emergence of fresh up moves expectations also after on going correction completion.

Conclusions (After Putting All Studies Together)

14 Sessions sideways correction between 7082-7563 and sustaining beyond this range will give next big moves. Next supports and resistances within this range are as follows:-

1- Support between 7193-7229
2- Supports between 7082-7102
1- Resistances between 7293-7319
2- Resistances between 7358-7432
3- Resistances between 7450-7563

As good supports at lower levels and equally strong resistances are lying at higher levels also between 7082-7563 therefore Nifty is not prepared for any side decisive moves and sideways correction of Wave-iv of Wave-3 will remain continued within mentioned range in the coming sessions. Following next huge moves will be seen beyond  7082-7563:-

1- Sustaining above 7563 will mean strong rally after corrective Wave-iv of Wave-3 completion.
2- Sustaining below 7082 will mean deeper correction after Intermediate Term Trend turning down.

Expected that finally rally will remain continued above 7563 after follow up consolidation in the coming sessions but at present correction is on and its completion confirmation is firstly required also and let it happen first then will be updated accordingly in the coming sessions Outlooks, At pewsent Indian markets will be understood side ways between 7082-7563 and heading as well as preparing for next more than 10% huge fast moves after sustaining beyond 7082-7563.