Next Big Trend Confirmations through 8339-8433

Intra Day Charts Analysis & Market Outlook

(14-08-2015)

Nifty-Intra Day Chart (Aug 12 & Aug 13,2015)

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Technical Patterns and Formations in last 2 Sessions intraday charts

1- Consolidation through down moves in Bullish Falling Channels in last 2 sessions
2- No selling patterns formations in last 2 sessions 
3- 2 Sessions actual trading between 8339-8433 

Conclusions from 2 Sessions intra day chart analysis 

Although sharp down on 12-08-2015 but amid crashing all Global markets after China currency(Yuan) surprise devaluation and as such selling patterns were not seen as well as consolidation also developed through down moves in Bullish Falling Channels in last 2 sessions therefore a signal of correction completion and some up moves also in the coming sessions.

As last 2 sessions actual trading between 8339-8433 after gap down opening on 12-08-2015 with consolidation patterns formations therefore view will not be Bearish despite sharp fall in Indian Rupee after devaluation of Yuan. Follow up moves with sustaining beyond 8339-8433 should be firstly watched in the coming sessions for following next big trend confirmations:-

1- Sustaining below 8339 will mean Bearish Head and Shoulders Pattern's neckline(8321.75) broken down confirmation also which will result deeper correction. 
2- Sustaining above 8433 will mean Pull Back rally beginning towards 8621/8654 and sideways market between 8339-8654 confirmations. 

Head and Shoulders Pattern's neckline(8321.75) will decide Correction Life

Technical Analysis and Market Outlook

(13-08-2015)

Nifty-EOD Chart (12-Aug-2015):-

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Technical Patterns and Formations in EOD charts

1- Wave-1(7940.30 on 12-06-2015)(Fresh Wave-i beginning after 5 Waves correction completion) 
2- Wave-i(8654.75 on 23-07-2015)
3- Wave-ii(8321.75 on 28-07-2015)
4- Bearish Head and Shoulders Pattern formations with its neckline at 8321.75

Conclusions from EOD chart analysis 

Following lines were told on 08-08-2015 in "Short Term correction Possibility in Next Week':-

signals of Bearish Head and Shoulders Pattern formations beginning with its neckline near about 8321.75 

As soon as signals of Bearish Head and Shoulders Pattern emerged then it was updated in above lines on 08-08-2015 and it was seen in last 3 sessions with bottom formation at 8337.95 today which is just above its neckline(8321.75)

Valid break down on neckline(8321.75) will be deeper correction confirmation and should be firstly watched in the coming sessions amid crashing all Global markets after China currency(Yuan) surprise devaluation. It seems the Global markets are over reacting devaluation news and Indian markets today down moves were only Global markets reaction therefore firstly sustaining beyond 8321.75 should be firstly watched in the coming sessions.

Pre-open Outlook(12-08-2015)

As all the Asian markets are now trading more than 1% down after more than 1% Red closing of all the European and US markets therefore sentiment is completely depressed today morning and gap down opening will be seen in Indian markets.

whole day down moves in Bullish Falling Channel was seen yesterday therefore Pull Back rally was expected today but crashing like situation in all Global markets and Indian markets may trade whole day in negative zone today. As follow up selling with sustaining below yesterday lowest(8441.30) is must for fresh down moves therefore first 3/4 hours intraday trading patterns should be firstly watched today for next Short Term Trend confirmations.

Pull Back rally expectations

Intra Day Chart Analysis & Market Outlook
(12-08-2015)

Nifty-Intra Day Chart (11-Aug-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 8442-8530

Conclusions from intra day chart analysis 

Although most time negative zone trading and .74% down closing but whole day down moves in Bullish Falling Channel therefore Pull Back rally is expected tomorrow. 

Just watch GST Bill fate in Parliament

Post-open Outlook(11-08-2015)

As per Business News channels there is possibility of GST Bill Passing in current on going Mansoon parliament session therefore some volatility can not be ruled out according to its developments there but finally next trend will be decided according to fate of Bill in this session of Parliament.

Finally correction continuation after some intraday volatility and minor up moves up to 8578

Intra Day Chart Analysis & Market Outlook

(11-08-2015)

Nifty-Intra Day Chart (10-Aug-2015):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours selling between 8594-8621(Immediate Resistances)
2- Sudden sharp fall in last 30 minutes
3- Whole day actual trading between 8498-8621

Conclusions from intra day chart analysis 

Following lines were told on 08-08-2015 in "Short Term correction Possibility in Next Week":-

1- firstly Short Term correction beginning possibility
2- Nifty will trade between 8322-8600 amid Short Term correction in next week 

As was told 100% same happened and Nifty closed 39 points down after slipping 94 points in last 45 minutes today.

Firstly more than 5 hours selling between 8594-8621 which was within next previous resistance range(8600-8654) and after that  huge sharp fall therefore confirmation of Short Term correction beginning and more down moves are expected in the coming sessions because last 3 sessions trading range(8546-8606) also broken down forcefully after 3:00 PM today.

Dow Jones is now trading 239 points up and if such Bullishness will be seen in Asian markets also then strong opening may be seen in Indian markets also but good selling at higher levels in last 4 sessions between 8566-8621 and Nifty will not easily sustain above 8621. As last 4 sessions selling within and below previous resistance range(8600-8654) therefore this resistance range has become stronger and until complete consolidation will not happen till then Nifty will not move above 8654. 

Finally today started correction continuation is expected after some intraday volatility and minor up moves upto 8578.