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

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 8273-8285
3- Up moves in Bearish Rising Channel
4- Selling between 8330-8348 
5- Whole day actual trading between 8273-8348

Conclusions from intra day chart analysis 

Following lines were told in Technical Analysis and Market Outlook(05-12-2014):-

1- emergence of correction possibility which may be minimum Short Term to Intermediate term.
2- deeper correction will be considered only after sustaining below 8290

Minimum Short Term to Intermediate term correction possibility was told on 05-12-2014 and since then continuous down moves seen in almost all the previous sessions. Importance of  8290 was also told and it was tested today as well as today closing is also near about it at 8292.90.

As highly volatile market with consolidation below 8290 and selling above it therefore today intraday patterns will be understood mixed and more follow up technical positions formations is firstly required for next decisive moves beyond today trading range. Sustaining beyond 8273-8348 should be firstly watched in the coming sessions for:-

1- Much deeper correction below 8273
2- First signal of correction completion above 8348(same level was given yesterday also and today highest is at 8348.30)

Technical Analysis and Market Outlook(11-12-2014)

Nifty-Intra Day Chart (10-Dec-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8317-8334
2- Follow up consolidation between 8334-8348
3- Whole day actual trading between 8317-8376

Conclusions from intra day chart analysis 

Firstly lower levels good consolidations but not sustaining at higher levels also therefore some more higher levels consolidations is firstly required for next decisive up moves above today highest.

Correction is on but Whole day Bullish Falling Channel formation yesterday and lower levels good consolidations also today therefore emergence of first signal of on going correction completion. As good selling at higher levels in previous weeks therefore more consolidation is required for fresh rally and new life time highest formations.

As consolidation between 8317-8348 today therefore sustaining beyond this range should be firstly watched tomorrow for:-

1- Correction continuation below 8317
2- First signal of on going correction completion above 8348

Technical Analysis and Market Outlook(10-12-2014)

Nifty-Intra Day Chart (09-Dec-2014):-

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Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channel
2- Whole day actual trading between 8330-8444

Conclusions from intra day chart analysis 

Although slipping 114 points from higher levels but whole day down moves in Bullish Falling Channel therefore only Pull Back rally will be considered at this moment because correction is on and its completion will be seen after complete consolidations.

Technical Analysis and Market Outlook(09-12-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 8507-8546 in first 3 hours
2- Mixed Patterns between 8432-8466 in last 3 hours
3- Whole day actual trading between 8432-8546

Conclusions from intra day chart analysis 

Although Nifty closed 25 points up on 04-12-2014 after new life time high formation at 8626.95 but we told for correction in following lines in Technical Analysis and Market Outlook(05-12-2014)

1- emergence of correction possibility which may be minimum Short Term to Intermediate term
2-  It is confirm that once slipping and sustaining below 8527 will mean sharp down possibility. 

Only and only correction was told in previous both sessions Outlooks and Nifty closed:-

1- 25 points down on 05-Dec-2014
2- 100 points down on 08-Dec-2014

Minimum target of Nifty at 8616.90 was told on 12-05-2014 in following topic:-

Minimum target of  Nifty at 8616.90

Firstly Nifty achieved our target and then corrected 195 points after forming life time high at 8626.95 on 04-12-2014.

Although Nifty closed near the lowest of the day today after first 3 hours selling but mixed Patterns formations also seen between 8432-8466 in last 3 hours therefore firstly sustaining it beyond should be watched tomorrow because sufficient consolidation was also seen in last 3 hours today. 

Correction is on and only minor signal of its completion because mixed Patterns formations today therefore firstly follow up moves with sustaining beyond 8432-8466 must be watched tomorrow for deeper correction confirmations below 8432 and fresh rally after correction completion confirmations above 8466.

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

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 8567-8583 
2- Selling between 8557-8567 
3- Whole day actual trading between 8525-8583

Conclusions from intra day chart analysis 

we told also following line on 12-05-2014 in Minimum target of  Nifty at 8616.90:-

Nifty is well set for rally towards minimum target at 8616.90. 

8616.90 was told 6 months before and Nifty made intraday highest at 8617 on 28-11-2014

Following line was told at 08:02 AM on 05-12-2014 in Technical Analysis and Market Outlook(05-12-2014):-

emergence of correction possibility

As was told 100% same happened and Nifty closed -0.30% down after more than 3 hours positive zone trading but more than 5 hours follow up selling. 

Certainly correction is on and its continuation is expected as well as until complete consolidation will not happen till then correction will remain continued. 

Next possibilities with all crucial levels have already been updated in following topic on 05-12-2014,just go through following topic link and prepare yourself for coming sessions trading:-

Technical Analysis and Market Outlook(05-12-2014)