Only Indian markets participation in Bullish Global markets

Intra Day Chart Analysis & Market Outlook

(24-12-2015)

Nifty-Intra Day Chart (23-Dec-2015):-

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Technical Patterns and Formations in today intraday charts

1- Sharp up after opening
2- Almost whole day up moves in Bearish Rising Channel 
3- Whole day actual trading between 7827-7872

Conclusions from intra day chart analysis 

As Dow Jones closed 165 points up yesterday and in reaction all the Asian markets was trading in Green therefore resultant strong opening of Indian markets and whole day sideways trading within 45 points betwen 7827-7872. Although today closing with 1.03% gains but on the back of strong Global cues therfore view will not be Bullish because almost whole day today up moves were in Bearish Rising Channel and intraday selling patterns were seen in last 3 sessions also. 

Global markets are strong and now Dow Jones is trading more than 100 points up as well as almost all the European markets are also more than 2% up therefore only Indian markets participation in Bullish Global markets will be understood in the form of Pull Back Rally towards following next resistance:-

1- 7877-7897
2- 7917-7934
3- 7953-7968

Correction Continuation Expectations

Intra Day Chart Analysis & Market Outlook

(23-12-2015)

Nifty-Intra Day Chart (22-Dec-2015):-

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours up moves in Bearish Rising Channel
2- Sharp down after intraday selling patterns formations
3- Whole day actual trading between 7777-7846

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Short Term correction in the coming 2/3 sessions":-

1- selling patterns formations will be understood between 7793-7840 in last 2 sessions  
2- expected that Nifty will not sustain above today highest 
3- finally down moves will be seen below today lowest(7733.45) in the coming 2/3 sessions after follow up selling

Follow up selling was firstly seen today through more than 4 hours up moves in Bearish Rising Channel. As this Bearish pattern formation was between last 2 sessions selling range(7793-7840) therefore sharp down moves below 7793 and closing also below this range at 7786.10 today.

Pull Back started on 14-12-2015 from 7551.05 and strong signals of its completion after last 3 sessions selling between 7793-7840. As such good selling therefore expected that more down moves will be seen towards the bottom of on going Pull Bach rally and possibility of slipping below the bottom(7551) of on going pull back rally also can not be ruled out because no confirmation of that big correction completion which started on 04-03-2015 from 9119.20.

As Dow Jones is now trading more than 120 points up and if it close such strong today and Asian markets also react such Bullishness tomorrow then some intraday volatility may be seen within today trading range(7777-7846) tomorrow but finally correction continuation is expected in the next 1/2 sessions.

Short Term correction in the coming 2/3 sessions 

Intra Day Charts Analysis & Market Outlook

(22-12-2015)

Nifty-Intra Day Chart (Dec 21 & Dec 22,2015)

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Technical Patterns and Formations in last 2 Sessions intraday charts

1- Selling between 7793-7836 on 18-12-2015
2- Selling between 7800-7840 on 21-12-2015

Conclusions from 2 Sessions intra day chart analysis 

Although closing near the higher levels of the day today but almost 5 hours selling patterns formations were also seen today. As more than 5 hours selling was seen almost in the same range last Friday also therefore selling patterns formations will be understood between 7793-7840 in last 2 sessions and Short Term correction will be considered.

As Dow Jones is now trading 140 points up and all the European markets are also trading with good gains therefore if Asian markets remains strong tomorrow then gap up opening will be seen in Indian markets also but expected that Nifty will not sustain above today highest and finally down moves will be seen below today lowest(7733.45) in the coming 2/3 sessions after follow up selling.   

As busy in a marriage therefore Stock Market Outlook of today is not being updated.