Post FOMC Up Moves after Follow up Consolidation
Intra Day Chart Analysis & Market Outlook
(16-03-2016)
Nifty-Intra Day Chart (15-Mar-2016):- |
| Just click on chart for its enlarged view |
1- Consolidation Patterns between 7503-7525
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 7453-7525
Conclusions from intra day chart analysis
Although whole day down moves were seen today but its happening with volatility and post FOMC up moves are being updated continuously in following lines from last Friday:-
Following lines were told at 02:43 PM on 11-03-2016 in "Pre-closing Outlook(11-03-2016)":-
1- Although above Bullishness but today intraday charts are showing selling signals
2- down moves are expected in the beginning of next week.
3- Valid break out of 7430-7530 will be first indication and sustaining beyond or forceful break out of 7310-7600 will be confirmation post FOMC big moves.
Following lines were told on 13-03-2016 in "Finally Up moves after volatile trading within Crucial Levels":-
1- selling was also seen between 7405-7545 in last 6 sessions therefore Indian markets may be highly volatile in the beginning of next week.
2- selling was seen last Friday also therefore some down moves are expected between last 6 sessions range
3- expected that in every situation(best to worst) Nifty will firstly trade between or near about 7310-7600 with high volatility and finally will move above 7600 decisively without sustaining below 7310.
Following lines were told at 12:35 PM on 14-03-2016 in "Mid-session Outlook(14-03-2016)":-
1- Last Friday Selling and last 6 sessions selling
2- expected that Nifty will trade and prepare between 7405-7600 for post FOMC decisive big moves
Following lines were told on 14-03-2016 in "Still Decisive Up Moves Expectations":-
1- Although whole day continuous down moves but in Bullish Falling Channels therefore consolidation process continuation will be understood.
2- Detailed analysis have already been updated in both previous Outlooks and still same view of decisive up moves expectations above 7600
Down moves were clearly told in the beginning of this week and Nifty slipped 130 points from higher levels in last 2 sessions. Post FOMC up moves after follow up consolidation was also told in previous Outlooks and it is still expected because consolidation patterns formations in first hour today and Down moves in Bullish Falling Channels were also seen in last 2 sessions which is also a consolidation pattern.
Post FOMC up moves after follow up consolidation is being continuously projected since last Friday still holding same view despite following Following Global markets weakness at this moment:-
1- All the European markets are now trading .67% to 1.21% down.
2- Dow's Futures is now trading 95 points down.
3- All the Asian markets closed in Red except China.