Some Down moves after Higher Levels Selling

Intra Day Chart Analysis & Market Outlook

(03-07-2015)

Nifty-Intra Day Chart (02-Jul-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling Patterns between 8461-8479(Immediate Resistances) 
2- Whole day actual trading between 8434-8479

Conclusions from intra day chart analysis 

Whole day sideways trading within 45 points with higher levels selling Patterns formations therefore expected that Nifty will slip below today lowest(8433.20). If follow up selling develop tomorrow then deeper correction will be considered because today selling was seen within previous resistance range(8440-8486).

Confirm Next moves from Levels amid Greek Drama Volatility 

Intra Day Chart Analysis & Market Outlook

(02-07-2015)

Nifty-Intra Day Chart (01-Jul-2015):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Sufficient intraday corrections
3- Whole day actual trading between 8371-8481

Conclusions from intra day chart analysis 

As positive news flow from Greece therefore whole day up moves but in Bearish Rising Channels and sufficient intraday corrections for consolidation were also seen therefore sinals of rally continuation. Last 8 sessions trading between 8196-8423 and Nifty traded more than 3 hours as well as closed above it but follow up consolidation is still required because slipping in last hour from higher levels within next strong resistance range(8440-8486).

As last 3 sessions trading was under the shadow of Greek Drama with high volatility and today up moves were also on the back of following positive news from Greece. 

Greece asks for new bailout — its third — at 11th hour

Greece Govt is taking U-Turn also from their today morning proposals and hours after telling Europe he could accept most of the conditions of a bailout he previously rejected, Prime Minister Alexis Tsipras urged Greeks to vote against it. Just click follow topic link for today evening statement on Greece Prime Minister

Greek leader flip-flops on bailout - again

News based and not technical based volatile market in this week and such uncertainty may be seen in next 2 sessions also because picture will be clear after referendum in Greece on 5th July therefore finally sustaining beyond 8414-8486 should be firstly watched for next immediate moves confirmations:-

1- Above 8486 will mean clearing of last resistance and strong rally after all trends turning up confirmations at 8505.
2- Below 8414 will mean fresh down moves after facing resistance between 8440-8486.

As we are still expecting up moves therefore repeating following conclusions also for next trend confirmations which were updated in previous week:-

Following conclusive lines were told on 25-06-2015 in "Fresh Rally Expectations from Next Week":-

As per our view Indian markets are well prepared for fresh rally and only negative news from Greece may create a hurdle but even though we are expecting that finally as such negative news will not come from Greece and fresh rally will be seen above 8486/8505 in next week.

Following conclusive lines were told on 26-06-2015 in "Rally continuation towards Life Time High after Bullish Pattern formations":-

As Whole correction in Bullish Flag Pattern formation , Falling Trend line of correction also broken out in previous week and last 2 sessions good intraday  consolidations therefore expected that on going rally will remain continued above 8505 in the coming week but after fresh follow up consolidations because strong resistances are lying between 8440-8486 

Just Watch 8 Sessions Range for Next Big Trend Confirmations

Intra Day Chart Analysis & Market Outlook

(01-07-2015)

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

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours trading with mixed Patterns between 8308-8348 
2- Whole day actual trading between 8308-8378

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day after good recovery from lower levels but as such good consolidation was not seen and on the contrary first 4 hours trading with mixed Patterns between 8308-8348 therefore final view can not be formed from today intraday charts analysis. As last hours up moves were after following developments also therefore clear consolidation is firstly required tomorrow for sustaining above today highest:-

1- Dow Futures suddenly moves up 100 points and sentiment boosted.
2- News on Business channels signalling some positive developments regarding Greece Crisis.

As today trading psychology was Greece news affected therefore technical positions understanding becomes tough and follow up moves will be firstly watched tomorrow then final view will be formed. Finally sustaining beyond last 8 sessions range(8196-8423) will decide next big trend and should be watched for final confirmations.

Just Watch Crucial levels for Next Big Trend amid Greek Drama

Intra Day Chart Analysis & Market Outlook

(30-06-2015)

Nifty-Intra Day Chart (29-Jun-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 8196-8261(Immediate Supports)
2- Consolidation Patterns between 8303-8329
3- Whole day actual trading between 8195-8329

Conclusions from intra day chart analysis 

Following lines were told today at 06:40 AM in "Greece debt crisis & Asian markets crashed ":-

Next supports are lying between 8196-8251 and sustaining it beyond will decide the impact of Greece Crisis on Indian markets and next trend as well.

Supports were told above 8196 and today lowest formations at 8195.65 as well as follow up supports between 8196-8261 today therefore today this supports range has developed as strong supports. Last 5 sessions trading between 8196-8423 with both consolidation and selling patterns formations within this range as well as next resistances between 8440-8486 are also lying just above 8423 therefore more consolidation will be firstly required for fresh rally 8486 and next big trend will be decided through sustaining beyond 8196-8486.

As Greece debt crisis led high uncertainty and all the global markets trembled today as well as settling down is firstly required therefore view is cautious and follow up moves will be firstly watched in the coming sessions and if follow up consolidation develops then rally above 8423/8486 will be considered.

As consolidation Patterns formations also between 8303-8329 in last hour today therefore sustaining beyond this range should be firstly watched tomorrow for next trend first indication. As support between 8196-8261 has developed strong therefore until complete selling will not develop till then Nifty will not slip below 8196 and it should be kept in mind that once sustaining below 8196 will mean deeper correction. If finally Nifty survives above 8196 amid such high Global crashing markets then strong rally is confirm above 8423/8486/8505 after all trend turning up confirmations.

As Greece is showing rigid attitude and situation is worsening therefore view is cautious and follow up moves with sustaining beyond following crucial levels will decide next big trend and should be firstly watched tomorrow:-

1- 8303-8329(first indication)
2- 8196-8423 (confirmation)

Greece debt crisis & Asian markets crashed 

Pre-open Outlook(29-06-2015)

As no positive decision regarding Greece in last 2 days and following negative developments therefore all the Asian markets have crashed:-

1- Greece debt crisis: Eurozone refuses bailout extension
2- Greek debt crisis: Banks to stay shut, capital controls imposed
3- Parliament approves referendum as Greece's future hangs in the balance

Dow's Futures is also trading 250 points down and sentiment is completely depressed today morning therefore gap down opening will be seen in Indian markets also. Next supports are lying between 8196-8251 and sustaining it beyond will decide the impact of Greece Crisis on Indian markets and next trend as well.