Pre-closing Outlook(26-09-2014

As some positive signals emerged therefore it was updated within first hour today in Post-open Outlook(26-09-2014) and following lines were told:-

1- Although depressing Global cues but Indian markets outperformed
2- Certainly it ia a positive signal and confirmation of sustaining above 7918 will mean Pull Back rally

Strong recovery from lower levels seen after good consolidation today and firstly up moves continuation is expected in the beginning of next week.

Post-open Outlook(26-09-2014)

Although depressing Global cues but Indian markets outperformed and recovered from lower levels after weak opening as well as now trading in Green with more than .25% gains. Certainly it ia a positive signal and confirmation of sustaining above 7918 will mean Pull Back rally but on going correction completion will be considered after complete consolidations.

Technical Analysis and Market Outlook(26-09-2014)

Nifty-Intra Day Chart (25-Sep-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Minor selling
3- Whole day actual trading between 7878-8019

Conclusions from intra day chart analysis 

21 Sessions side ways market between 7918-8170 and yesterday closing just below it but as such big selling patterns were not seen in last 3 sessions and on the other hand consolidation patterns were also seen therefore correction completion possibility near about yesterday lowest(7877) and until Nifty will not sustain below 21 previous sessions lowest(7918) till then big fall will not be seen.

US markets are trading now more than 1.45 down after huge fall in European markets therefore sentiment may be subdued today morning and most likely all the Asian markets may trade will huge fall and resultant Indian markets may open also in Deep Red today. Sustaining below 7918 will confirm next big trend within next 2/3 sessions and should be watched now.

Mid-session Outlook(25-09-2014)

Nifty got supports between 7951-7980 yesterday and almost last 2 hours trading within this range today after slipping from higher levels. As Sep. Derivative expiry today and markets react according to its technical positions on this day therefore firstly next trend confirmations is must through sustaining beyond above mentioned support range. As selling signals are being seen today therefore view is cautious.

Technical Analysis and Market Outlook(25-09-2014)

Nifty-Intra Day Chart (24-Sep-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day down moves but in Bullish Falling Channel
2- Support between 7951-7980
3- Whole day actual trading between 7951-8042

Conclusions from intra day chart analysis 

Following conclusions lines were told at 10:14 AM in Post-open Outlook(24-09-2014):-

1- Nifty is trading near about psychological level of 8000 today 
2- firstly sustaining beyond this levels should be watched today  
3- finally next big trend will be decided according to sustaining beyond 7918-8180.

Previous supports were between and Nifty got supports within this range today therefore these supports have strengthened today because consolidation pattern of  Bullish Falling Channel formations just above it today:-

1- 7924-7952

2- 7856-7891

Most time negative zone trading with Red closing above the psychological level of 8000 at 8002.45 today but whole day down moves in Bullish Falling Channel and lower levels supports also therefore fresh up moves beginning towards 8170 is expected from tomorrow.

Post-open Outlook(24-09-2014)

As following news therefore market may be volatile:-

1- US attack on ISIS in Syria therefore huge fall in all Global markets yesterday.
2- coal scam judgement today at 02:00 PM today.
3- Sep. Derivative expiry tomorrow.

Nifty is trading near about psychological level of 8000 today and firstly sustaining beyond this levels should be watched today and finally next big trend will be decided according to sustaining beyond 7918-8180.

Technical Analysis and Market Outlook(24-09-2014)

Nifty-Intra Day Chart (23-Sep-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day down moves but in Bullish Falling Channel
2- Whole day actual trading between 80009-8159

Conclusions from intra day chart analysis 

Down moves started immediately after opening but in Bullish Falling Channel therefore an indication of fresh rally after correction completion. Long and Intermediate Term trends are up and Short Term Trend is sideways between 7918-8180 for the last 19 sessions. Nifty is preparing for next decisive big moves within this range and next trend will get confirmation after sustaining beyond this range.

Although huge fall today but as such intraday selling patterns were not seen and Bullish Falling Channels formations also developed therefore finally rally above 8180 is still expected despite today closing near the lowest of the day. 

As busy today therefore Mid-session Outlooks are not being updated.

Technical Analysis and Market Outlook(23-09-2014)

Nifty-Intra Day Chart (22-Sep-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidations between 8065-8090 
2- Selling at higher levels in last 1 hour between 8145-8159
3- Whole day actual trading between 8065-8159

Conclusions from intra day chart analysis 

As good selling last Friday therefore firstly Nifty slipped 55 points immediately after opening today and recovered also after consolidations but selling was seen at higher levels between last resistance range(8140-8170). Selling was seen just below last resistance range(8124-9144) last Friday and follow up selling was seen within it today also therefore last resistance range of Nifty will be understood between 8124-9170 and follow up consolidation is must for sustaining and fresh rally above 8170. 

Both higher levels good selling(resistances) between 8124-9160 and equally good lower levels buying(supports) also between 8065-8090 in last 2 sessions therefore Nifty will firstly trade and prepare for next trend within 8065-8160 in the coming session.  Although Nifty has faced resistance between and near about last resistance range but lower levels good consolidations yesterday and in previous week therefore finally fresh rally is still expected above all time high(7180) but firstly some down moves can not be ruled out because follow up selling in previous resistance range(8140-8170) yesterday and last Friday.

Mid-session Outlook(22-09-2014)

Following conclusive lines were told today at 01:10 AM in previous Outlook:-

As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week. 

Firstly Nifty slipped 55 points immediately after opening today and recovered after consolidations between 8065-8090. Immediate resistances are between 8124-9144 therefore following 2 ranges should be firstly watched now:-

1- 8065-8144(For next trend first 1st strong indication)
2- 7924-8170(For next big moves confirmations) 

As Indian markets outperformed Global cues today therefore up sides break out possibility above 8144/8177 is more

Technical Analysis,Research & Weekly Outlook(Sep 22 to Sep 26,2014)

Nifty-Intra Day Chart (Aug 27 to Sep 19,2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 17 Sessions intraday charts:-

1- Supports between 7924-7991
2- Resistances between 8110-8170 
3- 17 Sessions actual trading between 7918-8170

Conclusions from 17 Sessions intra day chart analysis 

17 Sessions side ways market between 7918-8170 with higher levels selling and lower levels buying. Previous supports were between:-

1- 7924-7952
2- 7856-7891

Nifty got supports between above supports on 16th and 17th Sep and strong rally seen on 18-09-2014.

Previous resistances were between:-

1- 8090-8127
2- 8140-8170 

Follow up selling seen between above resistance ranges on 19-09-2014 therefore possibility of slipping towards next supports in the beginning of next week.

Nifty-Intra Day Chart (19-Sep-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 3 hours selling between 8124-9144 
2- Whole day actual trading between 8106-8160

Conclusions from intra day chart analysis 

As more than 3 hours selling therefore possibility of slipping below day's lowest(6106) because follow up selling seen between following previous 2 resistance ranges:-

1- 8090-8127
2- 8140-8170 

Conclusions (After Putting All Studies Together)

When Nifty was trading at too much lower levels then following topics were posted;-

1- We told following line on 12-05-2014 in Minimum target of Nifty at 8616.90

As per Elliot Wave theory Nifty is well set for rally towards minimum target at 8616.90.

2- We told following line on 21-10-2013 in Minimum target of Nifty at 6724.60

Nifty is well set for rally towards minimum target at 6724.60. 

(Just click above topic links and understand the calculations of above targets according to Elliot Wave theory)

Long and Intermediate Term trends are up and Short Term Trend is sideways between 7924-8170 for the last 17 sessions because both lower levels supports and higher levels selling seen within this range on 19-09-2014 therefore we told following line at 02:26 PM in Mid-session Outlook-2(19-09-2014):-

last 2 hours intraday charts are showing selling indications

As follow up supports at lower levels and follow up selling at higher levels were seen in previous week therefore both supports and resistances have been strengthened also and expected that Nifty will firstly trade and prepare for next trend within last 17 sessions trading range(7924-8170) 

As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week.