ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥


 This is the "Oldest & Only Website" of whole World
which is updating Nifty & Indian Stock Markets
"Daily and Weekly accurate Outlooks" 
with "Intraday Charts Analysis"for the 
last more than "14 years" means from "2010"
For its live Proofs just see "Archive"
in the "bottom of this Website".

Trading "calls" from our "Software" with more than "90% accuracy"

7715 Will decide the Life of on going Correction
Technical Analysis,Research & Weekly Outlook
(Dec 07 to Dec 11,2015)
9 Months Correction in Bullish Flag formations 

Nifty-EOD Chart (04-Dec-2015):-
Just click on chart for its enlarged view
Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013
2- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
3- 9 Months correction completion at 7539.50 on 08-09-2015 and Wave-1 beginning
4- Wave-1(8336.30 on 26-10-2015)
6- Wave-2(7714.15 on 16-11-2015)
4- 9 Months correction in Bullish Flag formations lower falling line towards 7119

Conclusions from EOD chart analysis

'ABC' correction begun on 04-03-2015 and from 9119.20 which completed at 7539.50 on 08-09-2015 and Wave-1 of fresh rally begun which completed at 8336.30 on 26-10-2015 and now its corrective Wave-2 is on with recent bottom formation at 7714.15 on 16-11-2015. As rally started from 7714.15 after 11 sessions rounding bottom formation therefore an indication of Wave-2 correction completion was developed but strong correction was seen in last 3 sessions and firstly 7714.15 should be watched in the coming sessions for the confirmation of corrective Wave-2 completion/continuation. 

As whole 9 months correction from 9119.20 to 7539.50 in Falling channel with Bullish Flag formations and this pattern formation will remain continued towards 7119. 

Bearish Head and Shoulders pattern formations

Nifty-EOD Chart (04-Dec-2015):-
Just click on chart for its enlarged view
Technical Patterns and Formations in EOD charts

1- Head and Shoulders pattern formations in last 56 sessions
2- Neckline at 7722

Conclusions from EOD chart analysis

Head and Shoulders pattern formations in last 56 sessions with its Neckline at 7722 therefore once valid break out of 7722 will mean much deeper correction because it will be confirmation of such big 56 sessions Bearish Head and Shoulders pattern broken down confirmation.

Intra Day Chart Analysis(07-12-2015)

Nifty-Intra Day Chart (04-Dec-2015):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Selling between 7800-7812
2- Selling between 7806-7821
3- Up moves in Bearish Rising Channel
4- Down moves in Bullish Falling Channel in last hours
5- Whole day actual trading between 7776-7821

Conclusions from intra day chart analysis 

Although higher levels selling and whole day good selling as well but down moves in Bullish Falling Channel in last hours therefore some up moves are firstly possibly in last Friday trading range(7776-7821). As good selling therefore until Nifty will not above last Friday highest(7821) after follow up consolidations till then any decisive up moves will not be seen.

Conclusions (After Putting All Studies Together)

Detailed analysis of EOD Charts have already been updated in previous weekly analysis topic on 29-11-2015 in following topic:-

"Bullish Flag Formation in last 9 months Correction suggesting Strong Rally"

Emergence of Head and Shoulders pattern formations after last 3 sessions sharp fall therefore firstly valid break out of its Neckline(7722) should be watched in the coming sessions for much deeper correction because its broken down confirmation will be the validity of such big 56 sessions Bearish pattern which will open the door for fresh and decisive down moves. 

As whole 9 months correction from 9119.20 to 7539.50 in Falling channel with lower falling trend line bottom at 7119 therefore once slipping below Wave-2 bottom(7714.15) will mean correction continuation towards 7119 after Head and Shoulders's Neckline(7722) broken down confirmations. Correction is on and next immediate supports of Nifty are as follows:-

1- 7767-7778
2- 7715-7736

As some consolidation patterns were seen in last hours of previous trading session therefore firstly some up moves may be seen next Monday but good selling in previous week at higher levels therefore until complete complete consolidation will not develop till then decisive up moves will not be seen.  

Correction is on and sustaining beyond 7722/7715 should be firstly watched in next week for its continuation towards 7119 or its completion after completion consolidation above 7715.