Last 3 Sessions Trading Range will decide next Short Term Trend

Intra Day Chart Analysis & Market Outlook

(29-01-2016)

Nifty-Intra Day Chart (28-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours consolidation between 7424-7447
2- Up moves in Bearish Rising Channel
3- Sharp fall in last hour
4- Whole day actual trading between 7410-7468

Conclusions from intra day chart analysis 

Firstly 4 Hours good consolidation between 7424-7447 but after that sharp fall in last hour today because:-

1- Selling was seen above 7447 between 7450-7465 and 7468-7487 on 25-01-2016 and more consolidation was required for sustaining above 7447.
2- Up moves above 7447 were in Bearish Rising Channel.

Last 3 sessions sideways trading within 77 points between 7410-7487 with lower levels good supports and higher levels equally good selling also. Although today closing is near the lower levels of the day after last hour sharp fall but good consolidation was also seen above 7424 today therefore sustaining below it is must after follow up selling for fresh down moves.

Certainly correction is on and no confirmation its completion yet and sustaining beyond last 3 sessions trading range(7410-7487) will decide next Short Term Trend in following manner:-

1- Sustaining below 7410 will mean correction continuation towards 7242
2- Sustaining above 7487 will mean first indication of strong Pull Back Rally but confirmation will be after sustaining above following next resistances:-

A- Resistances between 7504-7562
B- Resistances between 7552-7606
C- Resistances between 7614-7640

Mid-session Outlook(28-01-2016)

More than  4 hours trading within 29 points between 7424-7453 with lower levels supports and some consolidation today. As Nifty got supports above 7420 yesterday also therefore once sustaining above 

1- 7487 will be first indication of strong Pull Back Rally.
1- 7640 will be confirmation of strong Pull Back Rally.

Correction Continuation towards 7242 after 2 Intraday Bearish Developments

Intra Day Chart Analysis & Market Outlook

(28-01-2016)

Nifty-Intra Day Chart (27-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- Support between 7420-7435
2- Selling between 7460-7477
3- Mixed Patterns between 7440-7455
4- Bearish Head and Shoulders formations with Neckline at 7424
5- Whole day actual trading between 7420-7477

Conclusions from intra day chart analysis 

Following lines were told today at 10:14 AM in "Firstly watch valid break out of 7420-7487 for next decisive moves":-

1- some intraday supports seen between 7420-7435 today
2- selling was also seen between 7450-7465 and 7468-7487 on 25-01-2016
3- Firstly valid break out of 7420-7487 should be watched for next decisive moves.

Market honoured our all above levels in following manner today:-

1- Intraday supports were told between 7420-7435 and Nifty could not slip below 7420 and closed above 7435 at 7437.75 today.
2- Selling levels were told between 7450-7487 and Nifty could not move above 7487 and closed below 7450 at 7437.75 today.
3- Watching for valid break out of 7420-7487 was told with above supports and resistances and Nifty traded whole day as well as closed within this range today.

Although lower levels supports and higher levels selling is suggesting intraday Mixed Patterns formations today but following intraday developments are suggesting some down moves below today lowest(7420):-

1- Follow up selling was seen within the selling ranges of 25-01-2016. 
2- Intraday Bearish Head and Shoulders pattern formations with Neckline at 7424.

Although flat closing after most time positive zone trading today but with above mentioned 2 intraday Bearish developments therefore correction continuation towards 7242 is expected tomorrow.

Firstly watch valid break out of 7420-7487 for next decisive moves

Post-open Outlook(27-01-2016)

As positive Asian markets today morning after Dow Jones 282 points up strong closing yesterday therefore some intraday supports seen between 7420-7435 today but selling was also seen between 7450-7465 and 7468-7487 on 25-01-2016 which will be immediate Resistances of Nifty.

Firstly valid break out of 7420-7487 should be watched for next decisive moves.

Correction Continuation towards 7242

Intra Day Chart Analysis & Market Outlook

(27-01-2016)

Nifty-Intra Day Chart (25-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 7468-7487(Immediate Resistances)
2- Selling between 7450-7465(Immediate Resistances)
3- Whole day actual trading between 7422-7487

Conclusions from intra day chart analysis 

Although Nifty closed near the higher levels of the day on 22-01-2016 and also opened gap up strong on 25-01-2016 but we were not Bullish but watchful therefore we told following lines at 10:30 AM on 25-01-2016 in "Firstly Watch 7462-7504 for next Very Short Term Trend beginning":-

1- Last 5 sessions trading range(7242-7462) broken out in first minute today but on the back of strong Global cues
2- its confirmation is required through sustaining above 7462.
3- Next resistances are above 7504
4- will trade between 7462-7504 for next Very Short Term Trend preparation and firstly valid break out this range should be watched for its beginning.

Valid break out of 7462-7504 with resistances above 7504 were specially mentioned despite such strong Global and Indian markets and Nifty slipped as well as closed below 7462 at 7436.15 last Monday. As good intraday selling was also seen therefore correction continuation is expected towards 7242 and its valid breaking down will open the gates of further correction towards 7104/6761.

गणतंत्र दिवस की हार्दिक शुभकामनाएं 
Happy  Republic Day

Reunite On This Republic Day To Celebrate the Victory of Our Freedom Fighters and Rejoice in the Sacrifices That Made It Possible On This Republic Day, Let Us Unite In the Chant Vande Mataram and Let the Glory of Our Land and the Spirit of India Live Forever

Firstly Watch 7462-7504 for next Very Short Term Trend beginning

Post-open Outlook(25-01-2016)

As all the Asian markets were trading in Green with .60% to 1.5% gains therefore sentiment was positive today morning and Nifty traded 51 points up in first minute after gap up opening today. Last 5 sessions trading range(7242-7462) broken out in first minute today but on the back of strong Global cues therefore its confirmation is required through sustaining above 7462.

Next resistances are above 7504 which have already been updated in previous Outlook also yesterday and Nifty has to consolidate completely for beginning of decisive up moves above it therefore will trade between 7462-7504 for next Very Short Term Trend preparation and firstly valid break out this range should be watched for its beginning.

Next Short Term Trend Confirmation through 7242-7640

Technical Analysis,Research & Weekly Outlook

(Jan 25 to Jan 29,2016)

Nifty-Intra Day Chart (Jan 18 to Jan 22,2016):-

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Technical Patterns and Formations in last 5 Sessions intraday charts

1- Last 5 Sessions actual trading between 7242-7462 
2- Higher levels some selling patterns and lower levels some buying patterns in last 5 sessions.

Conclusions from 5 Sessions intra day chart analysis 

Last 5 sessions actual trading between 7242-7462 with higher levels some selling and lower levels some buying therefore valid break out of this range will generate next decisive moves.

Intra Day Chart Analysis(25-01-2016)

Nifty-Intra Day Chart (22-Jan-2016):-

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Technical Patterns and Formations in today intraday charts

1- First 2 hours slow up moves
2- Last 4 hours up moves in Broadening Pattern
3- Whole day actual trading between 7328-7433

Conclusions from intra day chart analysis 

Although strong opening and whole continuous up moves but first 2 hours up moves were slow which is a selling indication and last 4 hours up moves in Broadening Pattern which is a reversal pattern therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about last Friday trading range(7328-7433) as well as possibility of some intraday volatility can not be ruled out. 

Conclusions (After Putting All Studies Together)

18 Months 4000 points strong rally from 28-08-2013(5118.85) to 04-03-2015(9119.20) and now its corrective Wave-'C' of 'ABC' correction continuation with recent bottom formation at 7241.50 on 20-01-2016 and no confirmation of its completion yet.

Last 5 sessions trading between 7242-7462 and following next resistances are lying just above it:-  

1- Resistances between 7504-7562
2- Resistances between 7552-7606
3- Resistances between 7614-7640

As little better supports at lower levels in previous week therefore Nifty will not easily sustain below previous week lowest and expected that Nifty will trade first 2/3 sessions between 7242-7640 for following next Short Term Trend:-

1- Slipping below 7242 will mean correction continuation towards 7104/6761.
2- Sustaining above 7640 will mean first indication of on going big correction completion and confirmation of strong Pull Back Rally.