Firstly Watch 7444-7512 for Next Decisive Moves in Next Week

Technical Analysis,Research & Weekly Outlook

(Mar 08 to Mar 11,2016)

Nifty-Intra Day Chart (04-03-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling range 7470-7488 
2- High volatility in last hours
3- Whole day actual trading between 7444-7505

Conclusions from intra day chart analysis 

As next resistances above today highest were between 7480-7512 and some selling was seen just below and within this range today therefore Nifty could not move above 7512 and also closed within today selling range(7470-7488) at 7485.35 today. As some selling patterns today therefore on this base only very Short Term correction beginning will be considered because any big down moves can not be seen after such one day minor selling.

As high intraday volatility was also seen in last hours today and technical positions reverses during such volatility as well as only minor selling was seen today therefore it will be safer to get confirmation through valid break out of Crucial Levels because finally today intraday trading will be understood with Mixed Patterns formations not one sided.

Resistance between 7480-7512 have been updated 4 times after 23-06-2016 and Nifty traded as well as closed between this range after some follow up selling within and below this range today. As high volatility was also seen above today lowest(7444) which may have changed intraday technical positions therefore if there will not be any big news or any big Global markets moves next Monday then Nifty will firstly trade and prepare for next decisive moves within or near about 7444-7512 in the beginning of next week as well as valid break out of this range will decide following next decisive moves:-

1- Above 7512 will mean post Budget Pull Back Rally continuation towards next resistances(7556-7600). 
2- Below 7444 will mean very Short Term correction of post Budget rally beginning towards following retracement levels:-

Retracement Levels of Post Budget Pull Back Rally

Nifty-EOD Chart (04-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 13.0%-7416
2- 23.6%-7344
3- 27.0%-7321
4- 38.2%-7245(Crucial)
5- 50.0%-7165(Crucial)
6- 61.8%-7085(Crucial)
7- 70.7%-7024
8- 76.4%-6986
9- 78.6%-6971 
10-88.6%-6903

Pre-closing Outlook(29-02-2016)

It should be kept in mind that only very Short Term correction towards retracement levels is being considered at this moment after Post Budget strong rally because some selling was seen 7470-7488 today. As some recovery from lower levels therefore firstly valid break out of 7444-7512 should be firstly watched for next immediate move confirmations because some times Bull Market consolidate at higher levels amid high intraday volatility without giving deeper correction.

Although Nifty is now trading below today selling range(7470-7488) at 7467 but 7444-7512 should be firstly watched for confirmations.

Firstly Watch Retracement Levels after today started Very Short Term Correction beginning

Mid-session Outlook(04-03-2016)

Following resistances were updated at 12:2300 AM on 03-03-2016 in"Pull Back Rally continuation Expectations " 

1- 7480-7512
2- 7556-7600 

Nifty faced resistance exactly within 1st resistance range today and retraced to 7444.10 after intraday highest formation within this range at 7505.80. At this moment only very Short Term correction beginning will be considered after post Budget strong rally and following retracement levels will be firstly watched for today started correction completion:-  


1- 13.0%-7,416
2- 23.6%-7,344
3- 27.0%-7,321
4- 38.2%-7,245(Crucial)
5- 50.0%-7,165(Crucial)
6- 61.8%-7,085(Crucial)
7- 70.7%-7,024
8- 76.4%-6,986
9- 78.6%-6,971 
10-88.6%-6,903

It must be kept in mind that usually Bull markets does not give much deeper correction therefore whenever consolidation develops near about above levels then today started correction completion will be considered at that point. As first 4 fours today intraday charts are showing some selling patterns therefore correction continuation is expected towards above levels.

As busy in a marriage therefore Stock Market Outlook of today is not being updated but Mid-session Outlook may be posted during trading hours.

Pull Back Rally continuation Expectations 

Intra Day Chart Analysis & Market Outlook

(03-03-2016)

Nifty-Intra Day Chart (02-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 7309-7326(Immediate Supports)
2- More than 5 hours Mixed Patterns between 7340-7380
3- Up moves in Bearish Rising Channel
4- Down moves in Bullish Falling Channel
5- Whole day actual trading between 7309-7380

Conclusions from intra day chart analysis 

Surprised to see all around that most were Bearish for Budget and many have been trapped in short positions but those who are following us very well know that we posted following last Bearish topic on 22-02-2016:-

High Possibility of Slipping below Today Lowest(7201)

We told only and only up moves in all the following previous 5 topics from 25-02-2018:-

1- Posted at 02:12 AM on 01-03-2016- Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20
2- Posted on 29-02-2016- Finally up moves above today highest(7094.60)
3- Posted at 12:16 PM on 29-02-2016-  Mid-session Outlook(29-02-2016)
4- Posted at 01:08 AM on 29-02-2016- Short Term up moves Expectations with confirmation through 6869-7252
5- Posted on 25-02-2016-Pull Back Rally Expectations amid High Volatility

As was projected in above 5 topics 100% same happened after post Budget Bull Rally.

More than 100 points gap up opening and after that lower levels some supports but last more than 5 hours trading with  Mixed Patterns between 7340-7380 therefore expected that Nifty will firstly trade and prepare for next decisive moves within or near about this range.

Nifty traded 15 previous sessions between 6869-7252 and this range was forcefully broken out today which is first strong signal of its broken out validity and once confirmation of sustaining above 7252 will mean more decisive up moves after Intermediate Term Trend turning up confirmations as well as strong indication of that big correction completion at 6825.80 on 29-02-2016 which started at 9119.20 on 04-03-2015.

As very short Term Indicators have turned over bought therefore some intraday correction led volatility may be seen but until Nifty will not sustain below today lowest after 1/2 sessions complete selling till then any decisive down moves will not be considered. Expected that finally Budget day started Pull Back Rally will remain continued towards following next resistances after 1/2 sessions follow up consolidation within or near about 7340-7380:-

1- 7480-7512
2- 7556-7600 

Who told for Post Budget 
Bullish Indian Markets in whole India 
Except us

Archive(More than 7000 Topics) at the left bottom of this Blog is life proof of such accurate predictions of Indian Stock Markets for the last 5 years. Anyone can verify this fact any time from EOD and intraday charts of last 5 years

Indian Stock Market Outlook
(02-03-2016)

Whatsoever Bullish moves will be seen in Indian markets today all that have already been projected in last 1 week therefore just click following topic links and understand today market. When most of the experts were Bearish in all the Business News Channels and Websites then only we told for Post Budget Bullish moves which started after Budget from yesterday and will be seen today. 

Just go through previous topics on Home page or click following topic links which will make clear that those Bullish moves which were projected have been proved 100% accurate during and after Union Budget:-

1- Posted at 02:12 AM on 01-03-2016- Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20
2- Posted on 29-02-2016- Finally up moves above today highest(7094.60)
3- Posted at 12:16 PM on 29-02-2016-  Mid-session Outlook(29-02-2016)
4- Posted at 01:08 AM on 29-02-2016- Short Term up moves Expectations with confirmation through 6869-7252
5- Posted on 25-02-2016-Pull Back Rally Expectations amid High Volatility
6- Posted on 24-02-2016-Firstly Watch valid 6965-7090
7- Posted on 23-02-2016-Sideways market within Crucial levels for Post Budget Big Moves Preparations

Live Proofs of Today market 100% Accurate Predictions

Although FIIs were net sellers by 2018.02 Cr yesterday and Nifty closed in Red after last 1 year lowest formations but we told following line yesterday in "Finally up moves above today highest(7094.60)":-

finally up moves are expected above today highest(7094.60) 

As was told yesterday 100% same happened today and Nifty crossed 7094.60 within first 15 minutes after gaining more than 60 points in first 1 minute and now trading at 7131 after gaining 144 points

Who told with such guarantee for up moves above 7094.60 yesterday in any Website and Business News Channel in whole India Except us

Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20

Nifty-EOD Chart (29-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-3 on long Chart beginning at 4531.15 on 20-12-2011
2- Wave-3 completion and corrective Wave-4 beginning at 9119.20 on 04-03-2015 
3- Corrective Wave-4 recent bottom of correction at 6825.80 on 29-02-2016
4- 12 Months correction with Bullish Flag formations
5- Lower falling line of Bullish Flag testing on 29-02-2016 

Conclusions from EOD chart analysis 

As whole 12 months correction from 9119.20 to 6825.80 is with Bullish Flag formations and Nifty has not slipped below its lower falling line yet therefore Bullish Flag is valid till now and resultant hopes of fresh up moves above life time high(9119.20) are still alive.

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
5- 50.0%-6825(Tested on 29-02-2016 with intraday lowest formation at 6825.80)
6- 61.8%-6283
7- 70.7%-5875
8- 76.4%-5613
9- 78.6%-5512 
10-88.6%-4531 

Nifty tested today lower falling line of Bullish Flag at 6825.80 which is exactly at 50.0% Fibonacci Retracement level(6825) and all the Long Term Oscillators are oversold as well as Nifty recovered 110 points within 3 minutes which is Panic Bottom formations confirmation therefore:- 

1- Strongest indications of last 12 months Long Term correction completion today at 6825.80.
2- Very much expected that finally 6825.80 will be proved the lowest of that correction which begun at 9119.20 on 04-03-2015  
3- Finally fresh rally above 9119.20 will be seen before or immediately after Budget 2017-18 

Although tough to believe it today but just click following topic links and verify on yours own our following previous predictions also:-  

1- Posted on 06-09-2015- "Next Target of Nifty at 7104.30"
2- Posted on 13-09-2015- "Finally correction continuation towards 7104/6761"
3- Posted on 07-01-2016- "Correction Continuation towards 7104/6761"

(When we are projecting such Bullish Indian markets at that time Dow Jones is trading 110 points down and FIIs were net sellers by Rs 2018.02 cr today)

Finally up moves above today highest(7094.60)

Intra Day Chart Analysis & Market Outlook

(01-03-2016)

Nifty-Intra Day Chart (29-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- High volatility
2- Down moves in Bullish Falling Channel during last Hours between 6970-7094
3- Whole day actual trading between 6826-7094

Nifty-Intra Day Chart (Feb 24 to Feb 29,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 4 Sessions intraday charts

1- Previous 3 sessions trading between 6962-7090 
2- Today last 2 Hours Down moves in Bullish Falling Channel between 6970-7094

Conclusions from 4 Sessions intra day chart analysis 

Although high volatility today but as such selling patterns formations were not seen despite 42.70 points down closing but on the contrary Down moves in Bullish Falling Channel during last 2 Hours therefore Short Term up moves expectations are still alive. As following factors therefore some volatility between 6869-7252 may be seen in the coming sessions:-

1- Opposition parties may disrupt parliament on  privilege motion against Smriti Irani issue which will certainly hamper sentiment of Indian Stock markets.
2-  Certainly Long Term correction is very much on and no confirmation of its completion yet and higher levels multiple resistances up to 7252 therefore more consolidation is required for correction completion.

As per our view Indian markets are in consolidation phase after last 1 year correction and it will take its own complete time in the same manner as happened after 2008 correction that Nifty remained sideways for 5 months within 998 points between 2253-3241 from 27-10-2008 to 02-04-2009. 5 months trading range broken out after closing above 3241 on 02-04-2009 which made 9119.20 on 04-03-2015. 

Last 14 sessions most time trading between 6869-7252 and today closing within it after intraday lowest below it at 6826 and at present Nifty will be understood sideways within it,valid break out of this range will confirm Intermediate Term Trend. As Both lower levels supports and higher levels selling between 6869-7252 therefore market has to prepare for next decisive moves within this range.

Previous 3 sessions trading between 6962-7090 and today closing near the lower levels of this range but last 2 Hours today Down moves(6970-7094) within this range in Bullish Falling Channel which is a consolidation pattern therefore finally up moves are expected above today highest(7094.60) in the coming 2/3 sessions after some more follow up consolidation but first indication of last 1 year correction completion will be after sustaining above 7252.

Mid-session Outlook(29-02-2016)

Following lines were told at 01:08 AM today in "Short Term up moves Expectations with confirmation through 6869-7252:-

1- As Union Budget 2016/17 at 11:00 AM on 24-02-2016 and opposition attitude had been to disrupt parliament also therefore such uncertainly may result high volatility,
2- for precaution valid break out of last 13 sessions range(6869-7252) should also be watched for next Trend confirmations.

Although never happened in history on Budget day but today opposition tried to disrupt parliament immediately after opening on privilege motion against Smriti Irani. It means that Parliament may be again disturbed in the coming day like previous 2 sessions which will certainly hamper sentiment of Indian Stock markets.

As such uncertainly therefore high volatility is being seen today and for precaution valid break out of last 13 sessions range(6869-7252) should be watched for next Trend confirmations 

Short Term up moves Expectations with confirmation through 6869-7252

Technical Analysis,Research & Weekly Outlook

(Feb 29 to Mar 04,2016)

Nifty-EOD Chart (26-Feb-2016):-

Just click on chart for its enlarged view

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 bottom formation at 6869.00 on 12-02-2016 and Pull Back Rally beginning
11- Wave-1 of Pull Back Rally completion at 7252.40 on 22-02-2016 and its correction beginning
12- Wave-2 of Pull Back Rally at 6961.40 on 25-02-2016 and Up moves beginning with higher bottom formation.

Conclusions from EOD chart analysis 

'ABC' correction of that rally is on which started from 5118.85 on 28-08-2013 and completed at 9119.20 on 04-03-2015. Now Wave-3 of Wave-C continuation with recent bottom formation at 6869.00 on 12-02-2016 and after that Pull Back Rally begun and its Wave-1 finished at 7252.40 on 22-02-2016. Its corrective Wave-2 started which completed at 6961.40 on 25-02-2016,in this manner higher bottom formation was seen near the lowest of correction which is an indication of Short Term up moves in the coming week.

Nifty-Micro Analysis of 15 Sessions Intra Day Chart

(Feb 08 to Feb 26,2016)

Nifty-Intra Day Chart (Feb 08 to Feb 26,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 15 Sessions intraday charts

1- Gap down on 09-02-2016
2- Gap down on 10-02-2016
3- 13 Sessions sideways market between 6869-7252

Conclusions from intra day chart analysis 

13 Sessions sideways market between 6869-7252 and once valid break out of this range will confirm next strong Intermediate Term Trend which may be bigger also because 13 is a Fibonacci Number. As it will be little bigger range break out therefore once sustaining above 7252 will mean strong indication of that big correction which at 9119.20 on 04-03-2015. 

Nifty-Micro Analysis of 3 Sessions Intra Day Chart

(Feb 24 to Feb 26,2016)

Nifty-Intra Day Chart (Feb 24 to Feb 26,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 3 Sessions intraday charts

1- Minor selling between 7060-7080 on 24-02-2016
2- Minor selling between 7075-7090 on 24-02-2016
3- All the down moves in Bullish Falling Channel on 24-02-2016
4- Mixed Patterns between 6998-7028 on 25-02-2016
5- Down moves in Bullish Falling Channels on 25-02-2016
6- Mixed Patterns between 6980-7008 on 25-02-2016
7- Down moves in Bullish Falling Channel on 26-02-2016
8- Consolidation Patterns between 6986-7008 on 26-02-2016
9- Up moves with intraday correction on 26-02-2016
10- Minor selling between 7041-7051 on 26-02-2016
11- 3 Sessions actual trading between 6962-7090 

Conclusions from 3 Sessions intra day chart analysis 

Detailed analysis of 26-02-2016 has been posted below and just click following topic links for detailed analysis of intraday charts of 24-02-2016 and 25-02-2016:- 

1- For 24-02-2016- Firstly Watch valid 6965-7090
2- For 25-02-2016- Pull Back Rally Expectations amid High Volatility

It is very much clear from the last 3 sessions trading that more consolidation developed at lower levels in comparison to higher levels selling in last 3 sessions therefore strong indications of up moves above last 3 sessions highest(7090).

Intra Day Chart Analysis(29-02-2016)

Nifty-Intra Day Chart (26-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation Patterns between 6986-7008(Immediate Supports)
3- Up moves with intraday correction
4- Minor selling between 7041-7051
5- Whole day actual trading between 6986-7052 

Conclusions from intra day chart analysis 

Firstly down moves in Bullish Falling Channel and after that lower levels good consolidation as well as some up moves with intraday correction therefore up moves above last Friday highest(7052.90) will be seen. As minor selling was also seen in last hours between 6986-7052 so Nifty has to consolidate near about this range for decisive up moves but finally up moves are expected after follow up consolidations

Conclusions (After Putting All Studies Together)

Just click following topic links and understand the technical reasons of on going correction and for detailed analysis of EOD charts of previous rallies from 2008 as well as crucial Patterns formations during on going correction:-

1- Posted on 06-09-2015- "Next Target of Nifty at 7104.30
2- Posted on 13-09-2015- "Finally correction continuation towards 7104/6761"
3- Posted on 07-01-2016- "Correction Continuation towards 7104/6761"
4- Posted on 01-02-2016- "Pull Back rally continuation after follow up consolidation"
5- Posted on 07-02-2016- "Pull Back Rally continuation require confirmations from 7448-7479 under Volatile Global Markets"
6- Posted on 15-02-2016- "Pull Back rally Expectations but Trend Reversal after Sustaining above Most crucial Levels"
7- Posted on 22-02-2016- "Firstly Sideways Market within Crucial Levels"

Finally correction continuation towards 7104/6761 was told on 13-09-2015 and recent bottom formation at 6869.00 which is just above 6761. Certainly correction is very much on and no confirmation of its completion yet but lower levels consolidation with higher bottom formations were seen in last 11 sessions and some consolidation also developed in last 3 sessions therefore Nifty is well poised for Short Term up moves in the beginning of next week. 

Next resistances of Nifty are as follows;-

1- 7190-7252(Strong)
2- 7282-7321
3- 7480-7512
4- 7556-7600 

Next supports of Nifty are as follows which are sufficiently strong also:-

1- 6965-7025
2- 6869-6945

Expected that Nifty will move up and test above mentioned first resistance range but complete follow up consolidation is required for its crossing because it is strong resistance range. Once sustaining above 7252 will mean strong rally possibility because that will be confirmation of 13 sessions range break out also. 

As on going 11 months correction is with Bullish Flag formations therefore sustaining above 13 sessions range will mean strong possibility of Bullish Flag validity resultant emergence of strong possibilities for fresh up moves above life time high(9119.20).

As Union Budget 2016/17 at 11:00 AM on 24-02-2016 and opposition attitude had been to disrupt parliament also therefore such uncertainly may result high volatility,for precaution valid break out of last 13 sessions range(6869-7252) should also be watched for next Trend confirmations. 

Although no confirmation of 11 months correction completion yet but lower levels consolidation in last 11 sessions therefore Short Term up moves are expected in next week and that may convert into Intermediate Term also if sustains above 7252.