Intra Day Chart Analysis & Market 
Outlook(11-09-2015)

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

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Technical Patterns and Formations in today intraday charts

1- Immediately after opening up moves in Bearish Rising Channel
2- Selling patterns formation between 7733-7775
3- 80 Points rally in last 40 Minutes after more than 180 points rally of Dow' Futures
4- Whole day actual trading between 7678-7819

Conclusions from intra day chart analysis 

When all the European markets are more than 1.75% up and Dow's Futures was also trading 180 points up then following lines were told yesterday at 06:32 PM in "Possibility of Fresh Down Moves after Selling Patterns Formations Today":-

1- emergence of fresh down moves signals today
2- view will not be Bullish despite such strong closing today
3- As selling patterns formations today therefore more possibility of slipping below today lowest(7786)

As was told 100% same happened and Nifty traded whole day in Red as well as closed 30 points down today.

Firstly 138 points down trading after huge gap down opening but also whole day up moves and closing after gaining more than 100 points from lower levels near the higher levels of the day today. 

As firstly up moves were in Bearish Rising Channel and selling patterns were also seen as well as last 80 Points rally was on the back of more than 180 points rally of Dow' Futures therefore view will not be Bullish despite today closing near the higher levels of the day.

Huge gap down opening was due to most Bearsh Asian markets and last 40 Minutes sharp 80 points surge was on the back of more than 180 points rally of Dow' Futures as well as consolidation patterns were also not seen therefore whole day trading of today will be understood Global cues affected and follow up moves within 7678-7881 will be firstly watched in the coming sessions for next decisive moves confirmations.

Correction is on and as such no consolidation yet therefore view will not be Bullish despite today closing near the higher levels of the day after more than 100 points recovery from lower levels.

Possibility of Fresh Down Moves after Selling Patterns Formations Today

Intra Day Chart Analysis & Market Outlook

(10-09-2015)

Nifty-Intra Day Chart (09-Sep-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns between 7822-7846
2- Selling patterns between 7823-7835
3- Up moves in Bearish Rising Channel
4- Whole day actual trading between 7786-7846

Conclusions from intra day chart analysis 

Although strong Global cues led gap up opening and 1.70% positive closing also but intraday patterns of today are showing selling patterns formations therefore emergence of fresh down moves signals today. Resistances before trading were as follows:-

1- 7788-7811(crossed today)
2- 7831-7846(trading within this range but closing below it today)
3- 7865-7881
4- 7894-7926
5- 7929-7948(Gap Resistance)

Although trading within 1st and 2nd resistances and closing within it as well but in strong global cues led heated sentiments and intraday consolidation patterns were not seen therefore view will not be Bullish despite such strong closing today

As all the European markets are more than 1.75% up and Dow's Futures is also trading 180 points up at this moment therefore if such Bullishness maintains in Asian markets also tomorrow then some up moves above today highest or trading within today trading range may be seen but decisive up moves will not be considered until Nifty will not sustain above 3rd resistance(7881) after complete consolidations.

Last 2 sessions rally will be considered only Pull Back Rally to fuse near about above mentioned resistances and valid break down of today lowest(7786) will be its termination confirmation and valid break out of 7786-7881 will be next decisive moves confirmation. 

As selling patterns formations today therefore more possibility of slipping below today lowest(7786).

Just watch last 3 sessions levels for next trend confirmations

Intra Day Charts Analysis & Market Outlook

(09-09-2015)

Nifty-Intra Day Chart (Sep 03 to Sep 08,2015):-

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Technical Patterns and Formations in last 4 Sessions intraday charts

1- Steep fall in first half hour on 04-09-2015
2- Almost last 6 hours trading belween 7680-7692 on 04-09-2015 
3- Slipping after most time sideways trading between 7680-7692 on 07-09-2015 
4- Strong rally after lower levels supports below 7680-7692 and closing within this range at 7688.25 on 08-09-2015  
5- Last 3 sessions most time trading between 7680-7692 

Conclusions from 4 Sessions intra day chart analysis 

Global cues led high volatility in last 3 sessions with most time trading between 7680-7692 and closing also within it today therefore finally sustaining it beyond should be watched in the coming sessions for:-

1- First strong signal- Valid break out of last 3 sessions most time trading range(7680-7692)
2- Final confirmation- 7539-7720

Correction is on and today intraday sharp up moves will be considered strong Global Cues led A Bounce Back only. Let Nifty sustain above 7720 then further Pull Back Rally will be seen otherewise once slipping below today lowest will mean further steep fall.

As technical positions reverses amid previous 3 sessions like such high volatility therefore above mentioned levels should be watched for next trend confirmations.

Finally correction continuation amid Bounce Back

Intra Day Chart Analysis & Market Outlook

(08-09-2015)

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

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Technical Patterns and Formations in today intraday charts

1- 95 Points volatility in first 45 minutes.
2- More than 4 hours Mixed Patterns between 7618-7705.
3- Down moves in Bullish Falling Channel in last hours. 
4- Whole day actual trading between 7546-7705

Conclusions from intra day chart analysis 

High volatility immediately after opening and after that more than 4 hours trading with Mixed Patterns formations as well as last hours Down moves in Bullish Falling Channel also therefore it is clear that one sided technical positions formations was not seen today.

As correction is on therefore down moves were seen today but expected that Nifty will firstly trade within today trading range and prepare for next trend tomorrow. Although some signals of consolidation were seen today but not sufficient to suggest any decisive up move and only Bounce Back possibility will be considered within today trading range.

Expected that finally correction continuation will be seen after fresh selling within today trading range(7546-7705) but firstly some up moves/Bounce Back can not be ruled out within it.

Next Target of Nifty at 7104.30

Technical Analysis,Research & Weekly Outlook

(Sep 07 to Sep 11,2015)

Nifty-EOD Chart (04-Sep-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 and 'ABC' correction beginning)
7- Wave-A(7940.30 on 12-06-2015) 
8- Wave-B(8654.75 on 23-07-2015)
9- Wave-C continuation with recent bottom formation at 7626.85 on 04-09-2015 

Conclusions from EOD chart analysis 

That Wave-1 which started on 28-08-2013 from 5118.85 gained 4000 points and completed at 9119.20 on 04-03-2015 after many times new life times high formation and then that its 'ABC' correction started which is in continuation and no confirmation of its completion yet.

Fibonacci Retracement levels of on going ABC Correction

Nifty-EOD Chart (04-Sep-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-5 completion at 9119.20 on 04-03-2015 and 'ABC' correction beginning
3- Wave-C continuation with recent bottom formation at 7626.85 on 04-09-2015
4- Crucial 38.2% retracement level is at 7590 which is just below recent bottom

Conclusions from EOD chart analysis 

ABC correction of 4000 points rally between 5118-9119 is on which will correct according to following Fibonacci Retracement levels:-

1- 13.0%- 8598
2- 23.6%- 8174
3- 27.0%- 8038
4- 38.2%- 7590(Crucial)
5- 50.0%- 7118(Crucial)
6- 61.8%- 6646(Crucial)
7- 70.0%- 6290
8- 76.4%- 6062
9- 78.6%- 5974 
10-88.6%- 5574 

Crucial 38.2% retracement level is at 7590 and Nifty has corrected up to 7626.85 which is just above it. Now correction is very much on and once sustaining below 7590 will mean high possibility of correction continuation towards next 50% crucial retracement level(7118)  

Waves structure of 'ABC' correction

Nifty-EOD Chart (04-Sep-2015):-

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Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
2- Wave-1 of Wave-A(8269.15 on 27-03-2015)
3- Wave-2 of Wave-A(8844.40 on 15-04-2015)
4- Wave-3 of Wave-A(7997.15 on 07-05-2015)
5- Wave-4 of Wave-A(8489.55 on 22-05-2015)
6- Wave-5 of corrective Wave-A completion(7940.30 on 12-06-2015)
7- Wave-B completion and corrective Wave-C beginning(8654.75 on 23-07-2015)
8- Wave-1 of Wave-C(7667.25 on 25-08-2015)
9- Wave-2 of Wave-C(8091.80 on 28-08-2015)
10- Wave-3 of Wave-C continuation with recent bottom formation at 7626.85 on 04-09-2015 

Conclusions from EOD chart analysis

Corrective Wave-3 of Wave-C is on and no indication of its completion yet therefore its continuation is expected in the coming sessions.

Conclusions (After Putting All Studies Together)

All trends are down and Indian markets are in stiff grip of Bears as well as high possibility of correction continuation towards 7104.30.

Calculations of next target of Nifty at 7104.30

Wave-1 of Wave-C corrected 987.50 Points(8654.75-7667.25) and now Wave-3 of Wave-C continuation which has already retraced 464.95 Points till previous trading session. If Wave-3 of Wave-C corrects 100% of Wave-1 of Wave-C then it may move down up to:- 

7104.30=8091.80(Wave-2 of Wave-C completed and Wave-3 of Wave-C started)-987.50(Wave-1 of Wave-C corrected)

As 50% retracement level is at 7118 which is just above 7104.30 therefore Nifty slipping towards 7104.30 can not be ruled in on going correction but in the mean time Bounce Back and Pull Back Rally may also be seen after Short Term Indicators moving into Over Sold Zone.