Just Watch valid break out of 8310-8458 for next Trend

Intra Day Chart Analysis & Market Outlook

(31-07-2015)

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

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling between 8441-8458(Immediate Resistances)
3- Intraday volatility in last 2 hours between 8409-8438
4- Whole day actual trading between 8409-8458

Conclusions from intra day chart analysis 

Following lines were told on 28-07-2015 in "First Signal of on going Correction Completion":-

1- Whole day 75 points sideways trading with negative zone closing near the lower levels of the day 
2-as such selling patterns were not seen but on the contrary consolidation patterns were seen 
3- Pull back rally possibility can not be ruled out in the next 1/2 sessions after follow up consolidations

Following lines were told on 29-07-2015 in "Pull Back rally continuation after follow up consolidation":-

1- Nifty traded whole day within mentioned supports range(8310-8384) today with follow up intraday consolidation patterns formations after yesterday consolidation within this range therefore mentioned supports range has become more stronger. 
2- As last 2 sessions good consolidations within previous supports range(8310-8384) therefore strong signals of that correction completion which started on 23-07-2015 from 8654.75. 
3- Pull Back rally will remain continued

When Nifty closed near the lower levels of the day on 28-07-2015 then Pull back rally possibility was told in the next 1/2 sessions and following closing was seen in next 2 sessions:-

1- Nifty closed 38 points up on 29-07-2015  
2- Nifty closed 47 points up on 30-07-2015  

As firstly up moves in Bearish Rising Channel and after that higher levels selling 8441-8458 today therefore this range will be understood immediate Resistances of Nifty and firstly consolidation is required for next decisive up moves above today highest(8458.80).

Certainly good consolidation within previous supports range(8310-8384) in last 2 sessions and this range has become strong supports and until more selling will not develop after today selling till then Nifty will not slip below 8310. In the same manner until more consolidation will not be seen till then Nifty will not sustain above 8458 also therefore Nifty will be understood sideways between 8310-8458 and will firstly prepare for next decisive moves within this range.

As valid break out of 8310-8458 will decide next trend after follow up moves between this range therefore should be firstly watched in the coming sessions and next trend will be decided according to intraday patterns formations within this range.

Pull Back rally continuation after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(30-07-2015)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8339-8355(Immediate Supports)
2- Consolidation between 8351-8364(Immediate Supports)
3- Whole day actual trading between 8339-8381

Conclusions from intra day chart analysis 

Following lines were told yesterday in "First Signal of on going Correction Completion":-

1- whole day down moves in Bullish Falling Channel therefore Pull back rally possibility can not be ruled out in the next 1/2 sessions after follow up consolidations.
2- Supports between 8310-8384 was updated on 25-07-2015 in "Firstly Watch 8196-8384 for correction continuation / completion" and Nifty traded most of the time within this range today with intraday consolidation patterns formations therefore mentioned supports range has become stronger
3- emergence of first signal of that correction completion which started on 23-07-2015 from 8654.75

As was told 100% same happened and Pull back rally beginning was seen as well as Nifty closed 38 points up today. 

 Nifty traded whole day within mentioned supports range(8310-8384) today with follow up intraday consolidation patterns formations after yesterday consolidation within this range therefore mentioned supports range has become more stronger. 

As last 2 sessions good consolidations within previous supports range(8310-8384) therefore strong signals of that correction completion which started on 23-07-2015 from 8654.75. Once sustaining above 8384 will mean fresh up moves after correction completion 

Expected that Pull Back rally will remain continued but more follow up consolidation is also required for fresh rally above 8654.75 because 7 Sessions most time trading range(8560-8642) was broken down forcefully on 24-07-2015 after higher levels selling. 

First Signal of on going Correction Completion

Intra Day Chart Analysis & Market Outlook

(29-07-2015)

Nifty-Intra Day Chart (28-Jul-2015):-

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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 8322-8397

Conclusions from intra day chart analysis 

Whole day 75 points sideways trading with negative zone closing near the lower levels of the day but as such selling patterns were not seen but on the contrary consolidation patterns were seen through whole day down moves in Bullish Falling Channel therefore Pull back rally possibility can not be ruled out in the next 1/2 sessions after follow up consolidations.

Supports between 8310-8384 was updated on 25-07-2015 in "Firstly Watch 8196-8384 for correction continuation / completion" and Nifty traded most of the time within this range today with intraday consolidation patterns formations therefore mentioned supports range has become stronger and emergence of first signal of that correction completion which started on 23-07-2015 from 8654.75. Once sustaining above 8384 will mean strong signals of correction completion but more consolidation is firstly required for fresh rally above 8654.75 because 7 Sessions most time trading range(8560-8642) was broken down forcefully on 24-07-2015. 

Although all the European markets were trading with good gains and Dow's Futures was also more the 70 points up but Indian markets under performed and closed in Red today therefore view is cautious because selling on the back of strong Global cues can not be ruled out and follow up moves with finally valid break out of 8196-8384 will be watched for next trend confirmations 

A.P.J. Abdul Kalam passes away

'भारत रत्न' व देश के मिसाइल मैन एवं 

11वें राष्ट्रपति के रुप में देश को प्रतिनिधित्व देने वाले 

निर्विवाद व्यक्तित्व एपीजे अब्दुल कलाम नहीं रहे.. 

भगवान उनकी आत्मा को शान्ति दे ‪#‎सादर‬ श्रृद्धासुमन

Inspirations from the life of A.P.J. Abdul Kalam

Next Big Trend Decider is 8196-8384

Intra Day Chart Analysis & Market Outlook

(28-07-2015)

Nifty-Intra Day Chart (27-Jul-2015):-

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Technical Patterns and Formations in today intraday charts

1- 52 Points down in first minute after gap down opening.
2- Whole day down moves
3- Whole day actual trading between 8352-8475

Conclusions from intra day chart analysis 

As Punjab Terrorist attack and all the Asian markets in deep Red trading therefore firstly 52 points slipping in first minute after gap down opening and whole day continuous down moves and closing near the lower levels of the day today.

As 7 Sessions most time trading range broken down forcefully on 24-07-2015 therefore following lines were told at 12:35 AM on 25-07-2015 in "Firstly Watch 8196-8384 for correction continuation / completion":- 

1- strong signals of correction continuation in the beginning of next week
2- breaking down confirmation is also required through sustaining below 8560 and once this confirmation will mean deeper correction
3- strong signals of correction continuation which may be deeper also.
4- If follow up consolidation develops within or near about 8196-8384 then last Thursday started correction completion will be considered after sustaining above 8384
5- sustaining beyond 8196-8384 should be firstly watched in the coming week for correction continuation/completion.

Sustaining beyond 8196-8384 was told for correction continuation/completion confirmations and Nifty closed within this range today at 8361. As following reasons therefore valid break out of 8196-8384 will decide next big Trend therefore should be firstly watched for confirmations:-

1- Below 8196 will mean more down moves because Long Term Trend turning down confirmations after breaking down confirmation of its decider 200 Day EMA(today at 8257).
2- Above 8384 will mean fresh rally after 714 Points previous rally correction completion near about crucial retracement levels(38.2%,50.0% and 61.8%) which are lying between 8212-8381.