Pull Back Rally continuation require permission from 8224 

Technical Analysis,Research & Weekly Outlook

(May 11 to May 15,2015)

Nifty-EOD Chart (08-May-2015):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015)('ABC' correction beginning)
7- Wave-'A'(8269.15 on 27-03-2015)
8- Wave-'B'(8844.40 on 15-04-2015)
9- Wave-'C' recent bottom formation at 7997.15 on 07-05-2015
10- 134 Points strong rally and first indication of corrective Wave-C completion on 08-05-2015.

Waves structure of on going Wave-5

Nifty-EOD Chart (08-May-2015):-

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Technical Patterns and Formations in EOD charts

1- 7961.35 on 17-12-2014(Wave-5 beginning after Wave-4 completion)
2- Sub Wave-1(8445.60 on 05-01-2015)
3- Sub Wave-2(8065.45 on 07-01-2015)
4- Sub Wave-3(8996.60 on 30-01-2015)
5- Sub Wave-4(8470.50 on 10-02-2015)
6- Sub Wave-5 of Wave-5 completion at 9119.20 on 04-03-2015 and 'ABC'correction beginning
7- Wave-'A'(8269.15 on 27-03-2015)
8- Wave-'B'(8844.40 on 15-04-2015)
9- Wave-C recent bottom formation at 7997.15 on 07-05-2015
10- 134 Points strong rally and first indication of corrective Wave-C completion on 08-05-2015.

Nifty-Intra Day Chart (08-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 8141-8178
2- Selling patterns between 8188-8204 
3- Selling patterns between 8204-8224 
4- Whole day actual trading between 8141-8224

Conclusions from intra day chart analysis 

Firstly 110 points strong up moves in first 10 minutes after 74 points gap up opening and after that whole day trading between 8141-8224 with lower levels consolidation but higher levels selling patterns were also seen in last 3 hours therefore firstly sustaining above day's highest(8224) is must for fresh rally continuation.

As today selling patterns formations are at much higher levels(more than 100 points) therefore today resistances are not be much stronger between 8188-8224 and will be broken out easily after minor consolidation.

Nifty-Intra Day Chart (May 06 to May 08,2015):-

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Technical Patterns and Formations in last 3 Sessions intraday charts

1- More than 5 hours trading with selling patterns formation between 8083-8181 on 06-05-2015
2- Whole day Down moves in Bullish Falling Channel on 07-05-2015
3- Mixed Patterns between 8141-8224 on 08-05-2015
4- 3 Sessions actual trading between 7997-8224 

Conclusions from 3 Sessions intra day chart analysis 

Although whole day good consolidation between 7997-8122 on 07-05-2015 but 5 Hours selling was seen between 8083-8181 on 06-05-2015 therefore complete consolidation was required for sustaining above 8181. As both lower levels consolidation and higher levels selling was seen between 8141-8224 on 08-05-2015 therefore some more consolidation is required for fresh decisive rally above 8181/8224.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend Has turned up after 227 points rally from lower levels in last 2 sessions.
2- Intermediate Term Trend is down which will be up above 8505.
3- Long Term Trend is sideways and Nifty is hovering around its decider 200 Day EMA(today at 8188) for the last 6 sessions.

Wave-1 begun from 5118.85 on 28-08-2013 and its Wave-5 completed after 18 months 4000 points rally at 9119.20 on 04-03-2015 and 'ABC' correction started. Recent bottom of on going corrective Wave-'C' at 7997.15 on 07-05-2015 and after that strong 227 points rally was seen in last 2 sessions which is an indication of Wave-'C' completion and confirmation will be after sustaining above 8181/8224.  Once sustaining above 8224 will mean firstly retracement of Wave-'C' according to following retracement levels which started from 8844.40 and completed at 7997.15:-

1- 13.0%- 8,107(Retraced)
2- 23.6%- 8,196(Retraced)
3- 27.0%- 8,225(Retraced)
4- 38.2%- 8,320 (Crucial)
5- 50.0%- 8,420 (Crucial)
6- 61.8%- 8,520 (Crucial)
7- 70.0%- 8,595
8- 76.4%- 8,644
8- 78.6%- 8,662 
10-88.6%- 8,747 

Confirmation of Wave-'C' completion at 7997.15 will mean following 2 possibilities of next trend:-

1- Fresh rally above all time high(9119.20) after 'ABC'correction completion. This possibility can be considered because Wave-5 has almost completely corrected and sufficient(28%) correction of 4000 points rally has been seen. 
2- If 7th May 2015 started rally terminates below the top of Wave-'C'(8844.40) then 5 Waves correction will be seen and its corrective Wave-5 will moves below the bottom of Wave-'C'(7997.15).

Next resistances of Wave-'C' are as follows:-

1- 8230-8365
2- 8431-8462
3- 8486-8502
5- 8522-8564
6- 8640-8468
7- 8690-8750 
8- 8777-8784
9- 8802-8844

As above resistances therefore Nifty has to consolidate for any decisive up move and firstly sustaining beyond Long Term Trend decider 200 Day EMA(today at 8188) should be watched for the confirmation of next Trend towards:-

1- Above 8188 will mean rally towards the top of Wave-'C'(8844.40)
2- Below 8188 will mean extension of Wave-'C' towards fresh down moves below 7997/7961 

Oscillators are oversold therefore Pull Back Rally continuation is expected in the beginning of next week but rally continuation confirmation is must through sustaining above 8224.

Pull Back rally continuation & Watch Immediate Resistance Range for Next Trend

Intra Day Chart Analysis & Market Outlook

(08-05-2015)

Nifty-Intra Day Chart (07-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day Down moves in Bullish Falling Channel
3- Whole day actual trading between 7997-8122

Conclusions from intra day chart analysis 

Although most time negative zone trading and closing also .49% down today but as such no selling patterns formations were seen and on the contrary Down moves in Bullish Falling Channel were also developed which is a consolidation pattern.

Following lines were told yesterday in "Correction continuation towards/below 7994":-

1- Nifty will test 7994
2- finally sustaining it beyond will decide next trend

7994 was told and Nifty rebound 79 points after today lowest formation at 7997.15.

When Nifty was trading at much higher levels then calculations and importance of 7994 was told more than 10 times in last 4/5 weeks and 7994 has been almost tested today. As  whole day consolidation was seen today therefore Pull Back rally is expected tomorrow but good selling between 8083-8181 yesterday therefore complete follow up consolidation is required for sustaining above 8181.

On going target of Wave-'B' was at 7994 and it has been achieved today. Now firstly sustaining beyond 8181 should be firstly watched for:-

1- Sustaining above 8181 will mean Pull Back rally continuation with following Waves structure formations possibilities:-
a- Pull Back rally may be fresh rally beginning after 'ABC'correction completion or 
b- Pull Back rally may be Wave-4 for fusing below the the top of Wave-'B'(8844.40) and for fresh down moves beginning below today lowest in the form of Wave-5.
c- First signal of 'ABC'correction completion today but 5 Waves correction possibility is still alive.  
2- Sustaining below 8181 will mean fresh down moves below today lowest and corrective Wave-'B' continuation.

Certainly Big moves can not be decided from the formations of only 1 day intraday charts. Next moves signals have been drawn which are updated above.

Today last hour started Pull Back rally continuation is expected tomorrow and finally sustaining beyond immediate resistance range(8083-8181) will give first strong indication of next trend.

Pre-open Outlook(07-05-2015)

As all the Asian markets are in Red and 3 markets are more than 1% down as well as sentiment is most depressed today morning therefore weak opening will be seen in Indian markets. It should be kept in mind that Oscillators are oversold therefore a bounce back and volatility possibility is high. More than 5 hours trading with selling patterns formation between 8083-8181 yesterday and until Nifty will not sustain above 8181 after complete consolidation till then even Pull Back will not be seen.  

Indian markets will react on GST Bill developments in Rajya Sabha in the coming coming 1/2 sessions and may be volatile also but until Nifty will not sustain above 8181 till then decisive up moves will not be seen despite whatsoever positive news.

Correction continuation towards/below 7994

Intra Day Chart Analysis & Market Outlook

(07-05-2015)

Nifty-Intra Day Chart (06-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Huge fall in first Hour
2- More than 5 hours trading with selling patterns formation between 8083-8181
3- Whole day actual trading between 8083-8331

Conclusions from intra day chart analysis

Following 4 crucial were updated more than 10 times in previous 4 Weeks:-

1- 8186(Long Term Trend decider 200 Day EMA)
2- 8269(Neckline of Bearish Head and Shoulders Pattern)
3- 8353(Lower rising line of "9 Months Broadening Rising Channel")
4- 7994(100% of Wave-'A')

Just go through previous 4 weeks Outlooks and understand the calculations and importance of above mentioned 4 levels. Following conclusive moves were updated after breaking down confirmations of above levels:-

1- Sustaining below 8186 means Long Term Trend turning down confirmation and resultant correction continuation more than 3/4 months
2- Sustaining below 8269 means Bearish Head and Shoulders's Neckline broken down and resultant deeper correction.
3- Sustaining below 8353 means much deeper/huge correction after "9 Months Channel" broken down confirmation
4- 7994 will be 100% correction of Wave-'A' and this levels has not been tested in on going correction yet. This levels will decide the length and life of correction.

As more than 5 hours trading with selling patterns formation between 8083-8181 today therefore expected that Nifty will test 7994 and finally sustaining it beyond will decide next trend in following manner:-

1- Nifty may slip below 7994 but if finally sustain above it in 2/3 sessions then "ABC" correction possibility will be considered and fresh up moves will be seen after "ABC" correction completion.
2- If finally Nifty sustain below 7994 then 5 Waves correction will be seen and that will mean 5th Wave down moves much below 7994. As Lower rising line of "9 Months Broadening Rising Channel" broken down confirmation therefore its possibility is high.

Correction is on and its continuation is expected towards/below 7994

Live Proofs 100% Accurate Analysis & Profitable calls to Paid Clients

Following lines were told yesterday at 06:03 PM in Fresh Down Moves:-

1- fresh down moves will be seen tomorrow and 
2- Nifty will slip below today lowest(8280.60)

As was told yesterday all that proved 100% accurate in following manner today:-

1- Nifty slipped below 8280.60 within first 25 Minutes today.
2- Nifty moved moved down more than 100 points and made bottom at 8158.35 at 09:38 AM today

Nifty-Intra Day Chart  at 09:38 AM(06-May-2015)

(Just click at above topic link and go through) 

We not only posted Outlooks but also send following trading SMS to our paid clients yesterday and its profit was booked after target achieving today:-

SMS No 1- At 03:21 PM on 05-05-2015-NIFTY-NIFTY-May PE(8200)-Buy-Positional-SL-59 & TGT-104-CMP-78 NIFTY-May Fut-Sell-Positional-SL-8386 & TGT-8316-CMP-8360(Lalit39)
SMS No 2- At 09:37 AM on 06-05-2015-NIFTY May F&O(Shorted on 05-05-2015)-Targets achieved in Fut,Cover and book profit immediately in both PE & Fut-CMP Fut-8316/CMP PE-98(Lalit39)

As we always talk with those proofs which no one can deny therefore updating following live proofs of above mentioned SMS pictures which were sent:-

1- SMS No 1 and 2 Picture from 1st Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

2- SMS No 1 and 2 Picture from 2nd Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

If unable to read  text in above picture then:-

1- Firstly click on above SMS picture and enlarge it.

2- If unable to read then Save picture on yours desktop and after that  

3- Open and again enlarge the picture in Windows Picture Viewer.

Only 2 following information are deleted in above SMS Picture due to official secrecy rules:-

1- Numbers of sent SMS.

2- SMS sending Website name.

As we always send 2 SMS for each and every trading call and  2 SMS for each its covering therefore Wherever Our clients are moving they need not to watch market and only have to keep Mobile in their pocket because in any worst condition also minimum 1 SMS will be delivered and our clients will be able to trade and cover without any delay.

We always talk with only those proofs which no one can deny therefore live proofs have been updated and even though if anyone has any doubt then may call us and then he will be given the Mobile Numbers of those who enjoyed profits from any part in India.

Fresh Down Moves

Intra Day Chart Analysis & Market Outlook

(06-05-2015)

Nifty-Intra Day Chart (05-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8322-8355(Immediate Resistances)
2- Whole day actual trading between 8281-8355

Conclusions from intra day chart analysis 

Although Nifty closed after 43 points recovery from lower levels but more than 2 hours selling also seen at higher levels today therefore expected that fresh down moves will be seen tomorrow and Nifty will slip below today lowest(8280.60). Today selling range will be immediate Resistances and finally sustaining beyond following immediate supports will decide the fate that rally which started on 30-04-2015:-

1- Supports between 8253-8277
2- Supports between 8144-8168 

Sideways Nifty in a Broader Range

Intra Day Chart Analysis & Market Outlook

(05-05-2015)

Nifty-Intra Day Chart (04-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8253-8266
2- Selling patterns formation between 8282-8300
3- Consolidation between 8262-8277
4- More than 5 hours Mixed Patterns formations between 8253-8300
5- Last half Hour Up moves in Bearish Rising Channel 
6- Whole day actual trading between 8221-8346

Conclusions from intra day chart analysis 

Following line was told at 04:44:00 PM on 03-05-2015 in "Technical Analysis and Market Outlook(04-05-2015)":-

Pull Back Rally will be considered in the beginning of next week

As was told 100% same happened and Nifty closed 150.45 points up today

Although today losing near the highs of the day today but some selling patterns were also seen today therefore more consolidation is firstly required for decisive up moves above today highest.

Following crucial and next trend decider levels were updated on 02-05-2015 in "Long Term Trend is at Stake & Bearish Patterns signalling Deeper Correction":- 

1- 8186(Long Term Trend decider 200 Day EMA)- 1 sessions closing below it 
2- 8269(Neckline of Bearish Head and Shoulders Pattern)- 2 sessions closing below it 
3- 8353(Lower rising line of "9 Months Broadening Rising Channel")- 6 sessions closing below it 
4- 7994(100% of Wave-'A')

Above mentioned first 3 levels were broken down and Nifty closed at 8181.50 on 30-04-2015 but strong rally 150 points today therefore:-

1- Long Term Up Trend is still intact because Nifty moved above 200 Day EMA after 1 day closing below it. 
2- No confirmation of Bearish Head and Shoulders breaking down because Nifty moved above its Neckline after 2 day closing below it. 
3- As 6 sessions closing below the lower rising line of "9 Months Broadening Rising Channel" therefore its breaking down confirmation and deeper correction risk.
4- No confirmation of corrective Wave-'C' completion therefore possibility of 100% of Wave-'A' down moves towards 7994 is also still alive.

Nifty crossed 2 resistances today and following 3 resistances were lying at higher levels:- 

1- Resistances between 8230-8365
2- Resistances between 8431-8462
3- Resistances between 8486-8502

Although strong rally today but mixed patterns formations today and 3 resistances also above today highest therefore Nifty has to consolidate for fresh rally and sustaining above 8502. As 6 sessions closing below the lower rising line of "9 Months Broadening Rising Channel" therefore until Nifty will not sustain above lower rising line(8353) till then trend reversal will not be considered.

As completely mixed patterns on intraday and EOD charts therefore Nifty is not prepared for next trend and will remain sideways in a broader range between 8144-8502 as well as prepare for next trend.

Let market prepare for next trend between 8144-8502 then will updated from the analysis of intrady charts patterns formation in the same manner as being done for the last 5 years.

Technical Analysis and Market Outlook(04-05-2015)

Nifty-Intra Day Chart (30-Apr-2015):-

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Technical Patterns and Formations in today intraday charts

1- Support between 8144-8168 
2- Selling between 8175-8195 
3- Support between 8145-8164 
4- Mixed Patterns between 8184-8211 
5- Whole day actual trading between 8144-8229

Conclusions from intra day chart analysis 

Although some selling patterns were seen but lower levels good supports were also seen on 30-04-2015 therefore Pull Back Rally will be considered in the beginning of next week. As following resistances are lying at immediate higher levels therefore until Nifty will not sustain above 8308 till then decisive up moves will not be considered.

1- Resistances between 8213-8225
2- Resistances between 8232-8308

Detailed analysis of EOD Charts have already been updated yesterday and for understanding Long Term Trend just click following Topic Link 

Long Term Trend is at Stake & Bearish Patterns signalling Deeper Correction