As busy therefore Stock Market Outlook of today is not being updated.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Firstly Watch 7906
Post-open Outlook(03-12-2015)
Although all the Global markets were blasting and most GST passing possibility in previous sessions but we were cautious and told many times for watching 7906 because intraday selling patterns formations were seen in previous week and resultant gap down opening today after yesterday negative closing.
Nifty is hovering around 7906 since opening today and firstly sustaining it beyond should be watched today for next Short Term Trend.
For detailed analysis just go through previous sessions analysis which are available on Home page of this Blog.
Cautiously Bullish View
Intra Day Chart Analysis & Market Outlook
(02-12-2015)
Nifty-Intra Day Chart (01-Dec-2015):- |
| Just click on chart for its enlarged view |
1- Whole day down moves in Bullish Falling Channels
2- Whole day actual trading between 7935-7972
Conclusions from intra day chart analysis
Although all the Asian markets were trading with good gains today morning but Indian markets traded with minor gains because Indian markets were not technically prepared for strong rally. As whole day today trading with down moves in Bullish Falling Channels therefore signals of consolidation process and resultant emergence of on going rally continuation possibility.
As on going rally is slow and very short term indicators have moved into overbought zone as well as well as Indian market under performed Asian markets today therefore view will be cautious and strong rally will be considered after confirmation of sustaining next resistance range(8070-8152).
As intraday consolidation patterns formations today therefore view is cautiously Bullish and some up moves are expected towards 8070-8152.
7906 Will decide Next Trend amid GST and RBI Credit Policy led Volatility
Intra Day Chart Analysis & Market Outlook
(01-12-2015)
Nifty-Intra Day Chart (30-Nov-2015):- |
| Just click on chart for its enlarged view |
1- Multiple supports at lower levels between 7923-7941
2- Whole day actual trading between 7923-7966
Conclusions from intra day chart analysis
As intraday selling on 25th Nov and 26th Nov in previous week and technically Indian markets were not mature for strong rally as well as consolidation was firstly required therefore decisive up moves were not seen in last 2 sessions despite most Bullish news of GST passing possibility in current session of Parliament. We cautioned in all the previous outlooks regarding this aspect,resultant no Bullish moves and flat closing today.
We also told that 11 Sessions sideways market between 7714-7906 from Nov 09 to Nov 26,2015 with rounding bottom formation on EOD charts at the bottom of correction and this range was broken out on 27-11-2015 therefore follow up consolidation is firstly required above 11 sessions range highest(7906) for decisive up moves after big news of GST passing possibility.
Whole day trading above 7906 with multiple supports between 7923-7941 today which is first signal of sustaining above 7906 but whole day trading of today was under the shadow of GST news led heated sentiments therefore follow up consolidation with sustaining above 7906 is must in the coming sessions for decisive rally.
As RBI Credit Policy tomorrow and last 2 sessions trading with GST news led Bullish heated sentiments therefore volatility may be high tomorrow and but finally sustaining beyond 7906 will decide next trend and should be firstly watched in the coming sessions.
Firstly Watch 7906 for final reaction of GST Passing
Mid-session Outlook(30-11-2015)
Although such most Bullish news of GST passing possibility in current session of Parliament but Indian markets are flat to negative since opening today. We are repeating following lines for keeping in mind which were told yesterday in "Bullish Flag Formation in last 9 months Correction suggesting Strong Rally":-
1- Although 11 Sessions range broken out on 27-11-2015 but on the back of sudden developments of most positive expectations of GST passing
2- selling patterns formations were also seen in last week
3- last 2 sessions up moves were on the back of strong Global markets and GST passing expectations
4- firstly follow up consolidation is required for sustaining above 11 sessions range highest(7906)
5- no confirmation of on going correction completion yet
6- Bull markets are tend to consolidate at higher levels therefore its possibility can not be ruled out because GST passing possibilities suddenly.
If Indian markets would have been technically prepared for fresh rally then have opened gap up more than 1% today after such Bullish news(GST) but flat to negative market today because higher levels consolidation was firstly required after selling 25 Nov and 26 Nov in previous week.
Expected that finally rally will remain continued but for immediate up trend firstly sustaining above 11 Sessions highest(7906) should be watched for final reaction of GST passing on Indian markets because selling patterns formations in previous week.
Bullish Flag Formation in last 9 months Correction suggesting Strong Rally
Technical Analysis,Research & Weekly Outlook
(Nov 30 to Dec 04,2015)
Nifty-EOD Chart (27-Nov-2015):- |
| Just click on chart for its enlarged view |
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-A(7940.30 on 12-06-2015)
3- Wave-B(8654.75 on 23-07-2015)
4- Wave-C(7539.50 on 08-09-2015 and Wave-1 beginning after 'ABC' correction completion)
5- Wave-1(8336.30 on 26-10-2015)
6- Wave-2(7714.15 on 16-11-2015)
7- Wave-3 is on with recent top formation at 7959.30 on 27-11-2015
9 Months Correction in Bullish Flag formations
Nifty-EOD Chart (27-Nov-2015):-
 |
| Just click on chart for its enlarged view |
1- 5118.85 on 28-08-2013
2- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
3- 9 Months correction completion at 7539.50 on 08-09-2015
4- 9 Months correction in Bullish Flag formations
Whole correction in Falling channel
Nifty-EOD Chart (27-Nov-2015):-
 |
| Just click on chart for its enlarged view |
1- Wave-5 completion at 9119.20 on 04-03-2015 and correction beginning
2- Wave-C(7539.50 on 08-09-2015 and Wave-1 beginning after 'ABC' correction completion)
3- Whole correction in Falling channel
11 Sessions Trading Range broken out on 27-11-2015
Nifty-Intra Day Chart (Dec 09 to Dec 27,2015):-
 |
| Just click on chart for its enlarged view |
1- 11 Sessions actual trading between 7714-7906
2- 11 Sessions range broken out on 27-11-2015 after PM invitation to Manmohan Singh and Soniya Gandhi to find solution for passing of GST
Conclusions (After Putting All Studies Together)
Trends of Nifty are as follows:-
1- Short Term Trend is up
2- Intermediate Term Trend is down and will be up after sustaining above 8116
3- Long Term Trend is down and will be up after sustaining above its decider 200 Day EMA(today at 8135)
'ABC' correction begun on 04-03-2015 and from 9119.20 which completed at 7539.50 on 08-09-2015 and Wave-1 of fresh rally begun which completed at 8336.30 on 26-10-2015 and corrective Wave-2 started which completed at 7714.15 on 16-11-2015 with following developments:-
1- 11 Sessions sideways market between 7714-7906 from Nov 09 to Nov 26,2015
2- Rounding bottom formation at the bottom of correction in last 11 sessions
3- 11 Sessions range broken out on 27-11-2015
Although 11 Sessions range broken out on 27-11-2015 but on the back of sudden developments of most positive expectations of GST passing because PM invitation to Manmohan Singh and Soniya Gandhi for finding GST passing solutions. As selling patterns formations were also seen in last week and last 2 sessions up moves were on the back of strong Global markets and GST passing expectations therefore firstly follow up consolidation is required for sustaining above 11 sessions range highest(7906). Bull markets are tend to consolidate at higher levels therefore its possibility can not be ruled out because GST passing possibilities suddenly.
Next 3 resistances of Nifty are as follows:-
1- 8070-8152
2- 8196-8232
3- 8262-8325
Long Term Trend is down and its decider 200 Day EMA(today at 8135) is lying within above mentioned first resistance range,once sustaining above 8152 will mean strong rally after all trends turning up confirmations. As rounding bottom formation at the bottom of correction in last 11 sessions and this range has also broken out last Friday as well as big news of GST passing therefore strong possibilities of fresh rally after follow up consolidation above 11 sessions range highest(7906).
As whole 9 months correction from 9119.20 to 7539.50 in Falling channel with Bullish Flag formations therefore sustaining above 8152 will be strong indication of this big correction completion and that will mean high possibility of fresh rally above life time high(9119.20). Although no confirmation of on going correction completion yet but Bullish Flag formations is suggesting that Nifty is mature for strong rally above 9119.20 and it is expected also.
Subscribe to:
Posts (Atom)