Now trading in last resistance range after forceful up moves immediately after opening and now high possibility of upward break out of last 12 sessions range(8290-8456)
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(21-11-2014)
Nifty-Intra Day Chart (20-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 8354-8370
2- Minor selling at higher levels in last half hour
3- Whole day actual trading between 8354-8410
Following lines were told at 07:29 AM yesterday in Technical Analysis and Market Outlook(20-11-2014):-
As was told almost same happened and Nifty traded sideways between 8354-8410 as well as closed within mentioned range at 8,401.90 yesterday.
It was a volatile day yesterday and recovery was seen after lower levels consolidations but minor selling was also seen at higher levels therefore still Nifty will be understood sideways and Nifty will trade as well as prepare for next big moves between within last 12 sessions trading range(8290-8456)
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1- Consolidation between 8354-8370
2- Minor selling at higher levels in last half hour
3- Whole day actual trading between 8354-8410
Conclusions from intra day chart analysis
Following lines were told at 07:29 AM yesterday in Technical Analysis and Market Outlook(20-11-2014):-
Nifty will be understood sideways between 8360-8454 and sustaining beyond this range will be next immediate moves first indication below 8360 and confirmation above 8454.
As was told almost same happened and Nifty traded sideways between 8354-8410 as well as closed within mentioned range at 8,401.90 yesterday.
It was a volatile day yesterday and recovery was seen after lower levels consolidations but minor selling was also seen at higher levels therefore still Nifty will be understood sideways and Nifty will trade as well as prepare for next big moves between within last 12 sessions trading range(8290-8456)
Let Nifty prepare for next big moves between 8290-8456 then break out direction will be updated from intraday charts analysis in the same manner as being done for the last more than 4 years.
Technical Analysis and Market Outlook(20-11-2014)
Nifty-Intra Day Chart (19-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 8420-8431
2- Consolidation between 8360-8373
3- Whole day actual trading between 8360-8452
As Bearish Rising Wedge formation on 17-11-2014 and good selling on 18-11-2014 therefore following line was told on 18-11-2014 in Technical Analysis and Market Outlook(19-11-2014):-
As was told 100% same happened and Nifty slipped below 8,407.25 as well as closed at 8,382.30 on 19-11-2014
All trends are up and very Short Term correction seen yesterday but lower levels consolidation was also seen therefore Nifty will be understood sideways between 8360-8454 and sustaining beyond this range will be next immediate moves first indication below 8360 and confirmation above 8454.
Indian markets are most Bullish and Nifty turned sideways for the last 11 sessions between 8290-8456 after strong rally on 30 and 31-Oct-2014. As Bullish markets correct sideways and range bound mode also therefore this possibility will be considered at this moment.
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1- Selling between 8420-8431
2- Consolidation between 8360-8373
3- Whole day actual trading between 8360-8452
Conclusions from intra day chart analysis
As Bearish Rising Wedge formation on 17-11-2014 and good selling on 18-11-2014 therefore following line was told on 18-11-2014 in Technical Analysis and Market Outlook(19-11-2014):-
Nifty will slip below today lowest(8,407.25) as well as very Short Term correction will be seen in the coming sessions.
As was told 100% same happened and Nifty slipped below 8,407.25 as well as closed at 8,382.30 on 19-11-2014
All trends are up and very Short Term correction seen yesterday but lower levels consolidation was also seen therefore Nifty will be understood sideways between 8360-8454 and sustaining beyond this range will be next immediate moves first indication below 8360 and confirmation above 8454.
Indian markets are most Bullish and Nifty turned sideways for the last 11 sessions between 8290-8456 after strong rally on 30 and 31-Oct-2014. As Bullish markets correct sideways and range bound mode also therefore this possibility will be considered at this moment.
Nifty will trade and prepare for next big moves between 8290-8456 in the coming sessions because both higher levels selling and equally good consolidation also at lower levels and sustaining beyond or forceful break out of this range will be confirmation therefore should be watched for confirmation.
Mid-session Outlook(19-11-2014)
Very short Term correction with slipping below 8407.25 was expected and Nifty slipped also 40 points immediately after opening but consolidation with supports seen today after lowest formation at 8412.30.
Although Nifty is now trading in Red but both lower levels buying and higher levels selling seen between 8412-8454 today and yesterday therefore firstly sustaining beyond this range should be watched for next moves first strong indication.
Although Nifty is now trading in Red but both lower levels buying and higher levels selling seen between 8412-8454 today and yesterday therefore firstly sustaining beyond this range should be watched for next moves first strong indication.
Technical Analysis and Market Outlook(19-11-2014)
Nifty-Intra Day Chart (18-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 8438-8454
2- Selling between 8426-8436
3- Whole day actual trading between 8408-8454
As Bearish Rising Wedge formation seen in last hour yesterday therefore following lines were told today at 06:52 AM in Technical Analysis and Market Outlook(18-11-2014):-
1- break out confirmation is must through sustaining above 8415/8438
2- sustaining beyond 8405-8438 will be next trend first signal therefore firstly watched today.
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1- Selling between 8438-8454
2- Selling between 8426-8436
3- Whole day actual trading between 8408-8454
Conclusions from intra day chart analysis
As Bearish Rising Wedge formation seen in last hour yesterday therefore following lines were told today at 06:52 AM in Technical Analysis and Market Outlook(18-11-2014):-
1- break out confirmation is must through sustaining above 8415/8438
2- sustaining beyond 8405-8438 will be next trend first signal therefore firstly watched today.
As was cautioned same happened and Nifty could not sustain above 8438 as well as closed within already mentioned range(8405-8438) at 8,425.90
Firstly selling at higher levels and after that follow up selling today therefore above mentioned selling ranges will immediate resistances of Nifty and expected that Nifty will slip below today lowest(8,407.25) as well as very Short Term correction will be seen in the coming sessions.
Technical Analysis and Market Outlook(18-11-2014)
Nifty-Intra Day Chart (17-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 8349-8372
2- Bearish Rising Wedge formations in last hour between 8405-8438
3- Whole day actual trading between 8349-8438
Although strong recovery from lower levels after good consolidations between 8349-8372 but Bearish Rising Wedge formation also seen in last hour therefore firstly some more consolidation is firstly required for strong rally above today highest.
Nifty was sideways between 8291-8415 and this range was broken out today but Bearish Rising Wedge formations was also seen therefore break out confirmation is must through sustaining above 8415/8438
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1- Consolidation between 8349-8372
2- Bearish Rising Wedge formations in last hour between 8405-8438
3- Whole day actual trading between 8349-8438
Conclusions from intra day chart analysis
Although strong recovery from lower levels after good consolidations between 8349-8372 but Bearish Rising Wedge formation also seen in last hour therefore firstly some more consolidation is firstly required for strong rally above today highest.
Nifty was sideways between 8291-8415 and this range was broken out today but Bearish Rising Wedge formations was also seen therefore break out confirmation is must through sustaining above 8415/8438
As sustaining beyond 8405-8438 will be next trend first signal therefore firstly watched today.
Mid-session Outlook(17-11-2014)
As selling between 8368-8415 in last 3 sessions therefore following line was told yesterday in Technical Analysis and Market Outlook(17-11-2014):-
All the Outlooks of last 3 sessions are live proofs of this fact that we are posting only Bearish views from 12-11-2014 and since then up moves were not seen and down moves are being seen today.
Last 8 sessions trading between 8290-8415 and Nifty is preparing for next decisive moves within this range. As both higher levels selling and lower levels buying patterns formations within this range therefore Nifty will remain sideways within this range and prepare for next trend.
correction is expected below 8368 in the coming sessions
As was told yesterday 100% same happened today and Nifty slipped below 8368 as well as today lowest formation at this moment is at 8349.10.
All the Outlooks of last 3 sessions are live proofs of this fact that we are posting only Bearish views from 12-11-2014 and since then up moves were not seen and down moves are being seen today.
Last 8 sessions trading between 8290-8415 and Nifty is preparing for next decisive moves within this range. As both higher levels selling and lower levels buying patterns formations within this range therefore Nifty will remain sideways within this range and prepare for next trend.
As some consolidation seen between 8349-8352 today therefore firstly this range should be watched for first signal of on going very Short Term Correction completion.
Technical Analysis and Market Outlook(17-11-2014)
Nifty-Intra Day Chart (14-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 8373-8389
2- Whole day actual trading between 8347-8400
Selling patterns formations between following ranges in last 3 sessions:-
1- On 12-11-2014- 8395-8415
2- On 13-11-2014- 8368-8402
3- On 14-11-2014- 8373-8389
Selling between 8368-8415 in last 3 sessions and following up selling was seen last Friday also therefore correction is expected below 8368 in the coming sessions despite closing near the higher levels of the day on 14-11-2014.
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| Just click on chart for its enlarged view |
1- Selling between 8373-8389
2- Whole day actual trading between 8347-8400
Conclusions from intra day chart analysis
Selling patterns formations between following ranges in last 3 sessions:-
1- On 12-11-2014- 8395-8415
2- On 13-11-2014- 8368-8402
3- On 14-11-2014- 8373-8389
Selling between 8368-8415 in last 3 sessions and following up selling was seen last Friday also therefore correction is expected below 8368 in the coming sessions despite closing near the higher levels of the day on 14-11-2014.
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