Sideways market ahead for Post Budget big moves Preparation

Intra Day Chart Analysis & Market Outlook

(19-02-2016)

Nifty-Intra Day Chart (18-Feb-2016):-

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Technical Patterns and Formations in today intraday charts

1- Distribution Patterns between 7180-7215
2- Support between 7128-7162
3- Whole day actual trading between 7128-7215

Conclusions from intra day chart analysis 

Although Nifty closed 114 points down with Bearish Engulfing Candle formation on 16-02-2016 but we were not Bearish but Bullish therefore told following lines at 12:03 AM on 17-02-2016 in "Some Up moves Expectations within Sideways Market":-

1- Nifty slipped and also closed well below 7141 today but as such selling patterns were not seen
2- today closing is also near the lower levels of the day but view will not be Bearish
3- some up moves are expected tomorrow but decisive up moves will seen above 7185.

As was told 100% same happened in last 2 sessions and Nifty gained 167 points in last 2 sessions after our above Outlook at 12:03 AM on 17-02-2016.

Pull Back rally is on but some selling was seen at higher levels today but equally good consolidation was also seen at lower levels therefore today trading will be understood with Mixed patterns formations and expected that Nifty will firstly trade and prepare for next trend near about today trading range(7128-7215) if huge one sided moves does not appear in Global markets. 

Following resistances have been posted many times in previous Outlooks:-

1- 7220-7321
2- 7480-7512

Although strong gap up opening today but Nifty could not test above mentioned 1st resistance range and selling was also seen just below it today therefore if follow up selling develops tomorrow then decisive down moves will be seen towards following next supports:-

1- 6865-7025
2- 6869-6945

As lower levels good supports and higher levels selling between 6869-7321 therefore at present Nifty will be understood sideways within this range and Nifty will trade as well as prepare for Post Budget big moves within this range. Although finally sustaining beyond 6869-7321 will decide next big moves confirmations but its first indication will be from 7128-7215 therefore should be firstly watched in the coming 2/3 sessions. 

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

Some Up moves Expectations within Sideways Market

Intra Day Chart Analysis & Market Outlook

(17-02-2016)

Nifty-Intra Day Chart (16-Feb-2016):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours Mixed Patterns between 7101-7185 
2- Down moves in Bullish Falling Channel in last 2 hours
3- Whole day actual trading between 7038-7204

Conclusions from intra day chart analysis 

Although Rally continuation was expected but signals of weakness emerged immediately after opening today therefore we were cautious and told following conclusive line at 09:34 AM today in "Live Proofs of Today market 100% Accurate Predictions":-

Valid break out of 7141-7182 should be firstly watched now for next decisive moves.

Nifty slipped and also closed well below 7141 today but as such selling patterns were not seen and again 4 Hours trading with Mixed Patterns between 7101-7185 today. 

It is clear that 8 Hours trading with Mixed Patterns formations between 7101-7185 in last 2 sessions and this range was broken down and today closing is also near the lower levels of the day but view will not be Bearish because last 2 hours down moves were in Bullish Falling Channel today therefore it seems that consolidation process has been started after last 11 months correction. As such long correction therefore as such good consolidation is also required for trend reversal in the same manner as happened from Oct 2008 to March 2009 after 10 months correction in 2008. 

As Down moves in Bullish Falling Channel in last 2 hours after 8 Hours trading with Mixed Patterns formations therefore some up moves are expected tomorrow but decisive up moves will seen above 7185. It should be kept in mind that at present Nifty is sideways between 6869-7321 and finally sustaining beyond this range will decide next trend. 

Live Proofs of Today market 100% Accurate Predictions

Post-open Outlook(16-02-2016)

Following lines were told yesterday in "Rally Continuation Expectations after follow up consolidation":-

1- more than 4 Hours Mixed Patterns between 7141-7182
2- therefore some more consolidation is required near about this range for decisive up moves

As was told yesterday for today trading 100% same happened immediately after today trading in following manner:-

Nifty slipped within mentioned range(7141-7182) within first 5 minutes and now trading between this range with today lowest formation at 7150.35 at this moment.

Valid break out of 7141-7182 should be firstly watched now for next decisive moves.

Rally Continuation Expectations after follow up consolidation 

Intra Day Chart Analysis & Market Outlook

(16-02-2016)

Nifty-Intra Day Chart (15-Feb-2016):-

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Technical Patterns and Formations in today intraday charts

1- 75 Points gap up opening
2- First 2 hours up moves
3- 4 Hours Mixed Patterns between 7141-7182 
4- Whole day actual trading between 7072-7182

Conclusions from intra day chart analysis 

Although Nifty closed 182 points up after 75 Points gap up opening today but we told for Pull Back Rally in all the 3 previous outlooks from 11-02-2016. Just click following link and verify live proofs on yours own:- 

Live Proofs of Today Strong Rally 100% Accurate Predictions from 11-02-2016

Nifty moved up 103 points in first 2 minutes after 75 Points gap up opening and after that some up moves as well as more than 4 Hours Mixed Patterns between 7141-7182 therefore some more consolidation is required near about this range for decisive up moves because following resistances are lying just above today highest:-

1- 7220-7321
2- 7480-7512

Pull Back rally is on and until Nifty will not sustain below 7141 after complete selling till then fresh down moves will not be considered and today started rally continuation is expected after follow up consolidation between 7141-7321. 

Live Proofs of Today Strong Rally 100% Accurate Predictions from 
11-02-2016

Following conclusive line was told on 11-02-2016 in "Bounce Back Expectations above 7090":-

Bounce back is expected above 7090

When Nifty was trading near the lower levels of the day then we told following line at 12:16 PM on 12-02-2016 in Mid-session Outlook(12-02-2016):-

a bounce may be seen at any time or Pull Back rally may also begin within 1/2 sessions.

Following lines were told at 12:37 AM on 15-02-2016 in "Pull Back rally Expectations but Trend Reversal after Sustaining above Most crucial Levels":-

1- emergence of Pull Back rally possibility in the beginning of next week
2- Pull Back rally is expected in next week

Only and only up moves through Bounce back and Pull Back rally above 7090 were predicted in all 3 previous Outlooks from 11-02-2016 and it was seen today with 137 points gains and intraday highest formations in first half hour at 7118.10.

Pull Back rally Expectations but Trend Reversal after Sustaining above Most crucial Levels

Technical Analysis,Research & Weekly Outlook

(Feb 15 to Feb 19,2016)

7 Years Waves structure after 2008 big correction

Nifty-EOD Chart (12-Feb-2016):-

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Technical Patterns and Formations in EOD charts

1- 2252.75 on 27-10-2008(Impulsive Wave-1 beginning after 2008 big correction completion)
2- Corrective  Wave 2 beginning after Wave 1 completion at 6338.50 on 05-11-2010
3- Impulsive Wave-3 beginning after 13 Months Wave-2 correction completion at 4531.15 on 20-12-2011
4- Corrective  Wave 4 beginning after many times new life time high formations and Wave 3 completion at 9119.20 on 04-03-2015
5- Corrective  Wave 4 continuation with recent bottom formation at 6869.00 on 12-02-2016

Fibonacci Retracement levels of Wave-3

Nifty-EOD Chart (12-Feb-2016):-

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Waves Structure of on going Correction

Nifty-EOD Chart (05-Feb-2016):-

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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) and Wave-B beginning
7- Wave-B completion and corrective Wave-C beginning(8654.75 on 23-07-2015)
8- Wave-1 of Wave-C(7539.50 on 08-09-2015)
9- Wave-2 of Wave-C(8336.30 on 26-10-2015)
10- Wave-3 of Wave-C continuation with recent botttom formation at 6869.00 on 12-02-2016

Intra Day Chart Analysis(15-02-2016)

Nifty-Intra Day Chart (12-Feb-2016):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Up moves with intraday corrections
3- Whole day actual trading between 6869-7034

Conclusions (After Putting All Studies Together)

Correction continuation according to the 7 years Waves cycles and after that major corrections of Indian Stock Markets in following manner:-

1- In 1992- BSE Sensex rose from 1957.33 on 01-01-1992 to 4467.32 on 22-04-1992 and after corrected to 2036.81 on 26-04-1993.
2- In 2000- BSE Sensex rose to 5518.39 on 10-01-2000 and after corrected to 2651.78 on 24-09-2001.
3- In 2000- Nifty- Wave-1 beginning at 854.20 on 21-09-2001(all time lowest formation after world trade center attack on 11-09-2001) .
4- In 2008- Nifty rose to 6357.10 on 08-01-2008 and after corrected to 2252.75 on 27-10-2008.
5- In 2015- Nifty rose to 9119.20 on 04-03-2015 and after corrected to 6869.00 on 12-02-2016 and no confirmation of correction completion yet. 

On Long Charts now corrective Wave-4 is on which is correcting that impulsive wave-3 which started from 4531.15 on 20-12-2011 and completed at 9119.20 on 04-03-2015. Fibonacci Retracement levels of Wave-3(4531-9119) are as follows:-

1- 13.0%-8522
2- 23.6%-8036
3- 27.0%-7880
4- 38.2%-7366(Crucial)
5- 50.0%-6825(Crucial)
6- 61.8%-6283(Crucial)
7- 70.7%-5875
8- 76.4%-5613
9- 78.6%-5512 
10-88.6%-4531 

Corrective Wave-3 of Wave-C continuation with recent bottom formation at 6869.00 on 12-02-2016 and no confirmation of its completion yet. 50.0% Retracement level is at 6825 and if Wave-C corrects 161.8% of Wave-A then correction may remain continued up to 6747 also. As these 2 levels are crucial and if consolidation develops between or near about 6747-6825 then on going Long Term Correction completion possibility will be considered.

Although flat closing amid intraday high volatility last Friday but whole day good consolidation patterns formations therefore emergence of Pull Back rally possibility in the beginning of next week towards following next resistances:-

1- 7121-7185
2- 7220-7321
3- 7480-7512

As recent bottom(6869) is just above next most crucial levels(6747-6825) and some consolidation also seen just above it in last 2 sessions therefore signals of consolidation process beginning. 11 Months correction requires equally good consolidation and until that will not happen till then fresh rally after correction completion can not be considered. Pull Back rally is expected in next week because last 2 sessions intraday consolidations and Oscillators are in Oversold zone but Trend Reversal will get confirmations after sustaining above mentioned most crucial levels.