Mid-session Outlook(14-08-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(14-08-2014)

As consolidation was also today therefore rally continuation hopes are still alive after follow up consolidation  because following immediate resistances are lying just above today highest:- 

1- Resistance between 7773-7791
2- Resistance between 7811-7835

Nifty crossed first resistance range but today rally is slow and lacking required force therefore sustaining above 7835 with follow up consolidation is firstly required on next Monday for valid break out confirmation of 7840.

Technical Analysis and Market Outlook(14-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 7735-7757
2- Buying between 7696-7718 
3- Whole day actual trading between 7696-7757

Conclusions from intra day chart analysis 

Sentiment was heated after strong rally yesterday therefore firstly profit booking seen immediately after opening but lower levels supports and consolidation was also seen within 61 points range bound volatile market. As consolidation was also today therefore rally continuation hopes are still alive after follow up consolidation  because following immediate resistances are lying just above today highest:- 

1- Resistance between 7773-7791
2- Resistance between 7811-7835

As both higher levels selling and lower levels buying therefore mixed patterns formations today and sustaining beyond following levels should be firstly watched in the coming sessions for next immediate decisive moves confirmations:-

1- 7696-7757
2- 7664-7773

Mid-session Outlook(13-08-2014)

Although strong rally in last hours yesterday but we were cautiously Bullish therefore following lines were told yesterday in Technical Analysis and Market Outlook(13-08-2014)

1- more than .90% rally in last hours but  without required force
2- mixed Patterns formations also between 7655-7678 in first 5 hours 
3- fresh follow up consolidation is firstly required tomorrow for next rally above today highest
4- Nifty will firstly trade and prepare for next trend between 7664-7773 in the coming sessions.

As was perceived same happened and sustaining beyond following levels will be firstly watched now for next immediate moves confirmations because both higher levels some selling and lower levels minor buying is also being seen today:-

1- 7696-7757
2- 7664-7773

Technical Analysis and Market Outlook(13-08-2014)

Nifty-Intra Day Chart (12-Aug-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns between 7670-7678
2- Down moves in Bullish Falling Channel
3- Consolidation between 7655-7664 
4- Mixed Patterns between 7655-7678 in first 5 hours.
5- More than .90% rally in last hours.
6- Whole day actual trading between 7655-7735

Conclusions from intra day chart analysis 

Although more than .90% rally in last hours but  without required force and mixed Patterns formations also between 7655-7678 in first 5 hours therefore fresh follow up consolidation is firstly required tomorrow for next rally above today highest. Next supports and next resistances are as follows:-

1- Support between 7655-7664
2- Support between 7599-7616
3- Support between 7541-7560
1- Resistance between 7773-7791
2- Resistance between 7811-7835

Long and Intermediate term trends are up and Short Term trend is sideways between 7423-7840 for the last 47 sessions. Nifty will firstly trade and prepare for next trend between 7664-7773 in the coming sessions. Nifty has retraced 2 times earlier from 7800 but as such good selling not seen between above mentioned resistance ranges and follow up consolidation tomorrow will mean high possibility of rally continuation after new life time high formation.

Although follow up consolidation is firstly required in the coming sessions for next strong rally above 7840 but last 47 sessions trading patterns on EOD chart are suggesting Bullish patterns formation therefore expected that this time Nifty will not retrace from 7800 and finally rally will be seen after new life time high formation. 

Mid-session Outlook-2(12-08-2014)

Although today highest is at 7691 but actual trading highest was at 7677 therefore following correct levels are being updated against first 3 hours levels of previous Outlook:-

first 3 hours between 7658-7677 today 

As lower levels supports also seen above 7655 today therefore Valid break out of today actual trading range(7655-7677) should be firstly watched now for next immediate trend confirmations. 

As mixed patterns formations today therefore view is cautiously Bullish with those following reasons which has already been updated in previous Outlook.

1- Indian markets are out performing Asian markets today. 
2- Strong gap up opening. 
2- Today gap has not filled up yet. 

Mid-session Outlook(12-08-2014)

Technically both selling patterns between 7670-7691 and consolidation patterns of Down moves in Bullish Falling Channel formations in first 3 hours between 7658-7691 today. As Indian markets are out performing Asian markets today and strong gap up opening was also seen today as well as today gap is not filled up yet therefore view is still cautiously Bullish. 

Valid break out of today trading range(7658-7691) should be firstly watched now for next immediate trend confirmations.

Technical Analysis and Market Outlook(12-08-2014)

Nifty-Intra Day Chart (11-Aug-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support and consolidation between 7599-7616
3- Whole day actual trading between 7599-7635

Conclusions from intra day chart analysis 

Although lower levels support and consolidation as well as closing near the higher levels of the day but Indian markets under performed Global cues also today therefore some selling possibility can not be ruled out. Sustaining beyond previous support range(7600-7666) should be watched tomorrow for next immediate decisive move confirmation after first strong indication of correction completion.

Mid-session Outlook(11-08-2014)

Although consolidation patterns formations last Friday and some supports with consolidation also seen after gap up opening today but Indian markets are under performing Global cues today therefore emergence of some selling possibility also and firstly sustaining beyond 7600-7666 should be watched for next immediate decisive move confirmation.

Technical Analysis and Market Outlook(11-08-2014)

Nifty-Intra Day Chart (08-Aug-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 7541-7560
2- Whole day actual trading between 7541-7592

Conclusions from intra day chart analysis

As Geo Political tension rose last Friday after US President Obama statement of military action in Iraq and Global Stock markets were depressed therefore gap down opening and whole day negative zone trading and more than 1% down closing of all the Indices but

1- Intraday charts are not showing selling patterns formations
2- Lower levels consolidation Patterns are being seen.

Expected that firstly up moves will be seen above intraday highest(7592). As Consolidation was seen between 7631-7666 on 07-08-2014 therefore expected that Nifty will trade above 7666 also . As higher levels multiple resistances also therefore Nifty will be understood sideways between 7541-7841.

Although 300 points slipping from higher levels but as such good selling not seen between mentioned range and high possibility of rally continuation above life time high.