Pre-open Outlook(13-04-2016)

As Dow's Futures is 178 pints up today morning after 164 rally yesterday therefore sentiment is extremely strong and all the Asian markets are more than 1% up,resultant gap up opening will be seen in Indian markets also.

As Bull markets consolidate at higher levels therefore Nifty will firstly trade between 7700-7777 and consolidate for fresh up moves above the top(7777.60) of post Budget rally which may be seen today or in next week.

Just Watch Crucial Levels to understand next trend

Intra Day Chart Analysis & Market Outlook

(13-04-2016)

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

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Technical Patterns and Formations in today intraday charts

1- Support between 7677-7690
2- More than 2 hours Mixed Patterns between 7695-7717
3- Minor support between 7674-7684
4- Selling between 7704-7717 
5- Whole day actual trading between 7677-7717

Conclusions from intra day chart analysis 

Following line were told yesterday in "Rally Continuation after follow up fresh consolidation":-

today started rally continuation is expected

As was told 100% same happened and Nifty closed .49% up today but as such intraday consolidation was not seen because more than 2 hours trading was mixed Patterns formations between 7695-7717 and selling was also seen in last hour despite today closing near the higher levels of the day. As Nifty got supports at lower levels also therefore whole day today trading will be understood with Mixed patterns formations. 

Expected that Nifty will firstly trade and prepare for next decisive moves near about and within today trading range(7677-7717) and its valid break out will be first indication and sustaining beyond 7517-7777 will be next trend final confirmation therefore these crucial levels should be firstly watched tomorrow to understand next trend.

Let Nifty prepare for next decisive moves between 7677-7717 then next trend will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years because our policy is "No gossiping never guessing and whatsoever market suggest,only that is always updated".

Rally Continuation after follow up fresh consolidation 

Intra Day Chart Analysis & Market Outlook

(12-04-2016)

Dow's Futures-Intra Day Chart(till 01:45 PM on 11-Apr-2016):-

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 Nifty-Intra Day Chart (11-Apr-2016):-

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Technical Patterns and Formations in today intraday charts

1- More than 3 hours sideways trading between 7557-7586
2- 3 Hours trading range broken down 
3- 100 Points jump with sharp rise in Dow's Futures and all European markets.
4- Strong up moves continuation with closing near the higher levels of the day.
3- Whole day actual trading between 7517-7678

Conclusions from intra day chart analysis 

Following lines were told in both previous Outlooks of yesterday and today:-

1- good selling was seen between 7552-7569
2- some down will be seen despite last Friday closing near the higher levels of the day.
3- As both supports and resistances between 7518-7644 and finally this range will decide the fate of on going Post Budget Rally correction

As was told above all the proved 100% accurate in following manner today:-

Down was told yesterday and downward moves remain continued till 01:00 PM today as well as levels between 7518-7644 were given and Nifty jumped 100 points after lowest formation at 7516.85. 

Nifty closed at 7671.40 today which has validated following most crucial levels:-

1- Neckline(7600) of 48 sessions Bullish Inverse Head And Shoulders pattern
2- 11 Sessions trading range(7582-7777) was broken down on 07-04-2016 but not sustaining below it and again moved into and closing within 11 sessions range today.

As intraday charts of 06-04-2016 and 07-04-2016 showed only consolidation patterns therefore we posted following topics on that days:-

1- Posted on 06-04-2016:- "First indication of yesterday started correction completion"
2- Posted on 07-04-2016:- "Finally fresh up Moves after follow up consolidation amid Global markets Bearishness"

Only Bullish projections were given in above 2 topics and Nifty closed above the top of these 2 sessions in only one day today rally which is an strong indication of that correction completion which started from 7777.60 on 31-03-2016. As no selling pattern formations today therefore today started rally continuation is expected towards following resistances:-

1- 7710-7737
2- 7755-7777

As above resistances are just above today highest and very Short Term Indicators have also turned overbought after today strong rally therefore some volatility can not be ruled out but finally rally continuation above 7777.60 is expected after follow up fresh consolidation which is must also to cross and sustain above mentioned resistances.

Post-open Outlook(11-04-2016)

Following lines were told yesterday in "7518-7644 Will decide the Fate of on going Post Budget Rally Correction":-

1- good selling was seen between 7552-7569
2- some down will be seen despite last Friday closing near the higher levels of the day.
3- As both supports and resistances between 7518-7644 and finally this range will decide the fate of on going Post Budget Rally correction

Nifty honoured our above analysis in first 40 minutes in following manner today:-

1- Good selling between 7552-7569 was told and Nifty could not sustain above it as well as slipped below it. 
2- Down was told yesterday after Green closing of all US and European markets last Friday and down moves are being seen in Indian markets today despite most Asian markets positive zone trading with more than 1.4% up moves in Chinese markets.

As both supports and resistances between 7518-7644 and finally this range will decide trend therefore should be first watched now.

7518-7644 Will decide the Fate of on going Post Budget Rally Correction

Technical Analysis,Research & Weekly Outlook

(Apr 11 to Apr 13,2016)

Waves Structure of on going Pull Back Rally

Nifty-EOD Chart (08-Apr-2016):-

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Technical Patterns and Formations in EOD charts

1- Pull Back Rally beginning after bottom formation at 6825.80 on 29-02-2016
2- Recent top of Pull Back rally formations at 7777.60 on 31-03-2016
3- 11 Sessions trading between 7582-7777 and this range broken down on 07-04-2016 
4- Correction of Pull Back rally continuation with recent bottom formations at 7526.70 on 08-04-2016

Conclusions from EOD chart analysis

That Pull Back Rally which begun from 6825.80 on 29-02-2016 completed at 7777.60 on 31-03-2016 and correction started which is in continuation with recent bottom formations at 7526.70 on 08-04-2016.

Intra Day Chart Analysis(08-04-2016)

Nifty-Intra Day Chart (08-Apr-2016):-

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Technical Patterns and Formations in today intraday charts

1- Support between 7527-7542 
2- Selling between 7552-7569(Immediate Resistances)
3- Whole day actual trading between 7527-7569

Conclusions from intra day chart analysis 

Following lines were told on 07-04-2016 in "Finally fresh up Moves after follow up consolidation amid Global markets Bearishness":-

1- Dow Jones is now trading more than 120 points down and all the European markets are also in Red 
2- finally fresh up moves will be seen after follow up consolidation near about and between 7536-7635
3- because last 2 sessions intraday charts are showing consolidation patterns formations.

Although most Asian markets were too much down after deep Red closing of US and all European markets on 08-04-2016 but Indian markets opened flat also closed in Green because of consolidation patterns formations in previous 2 sessions.

Certainly Indian markets out performed Global markets and also got supports at lower levels but good selling was seen between 7552-7569 therefore it will be immediate resistance of Nifty and until Nifty will not sustain above it after fresh consolidation till then next decisive up moves above 7569 will not be seen as well as some down will be seen despite last Friday closing near the higher levels of the day.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend has turned down after slipping below last 11 sessions trading range(7582) 
2- Intermediate Term Trend is up which will be down after sustaining above 7405.
3- Long Term Trend is down which will be up after sustaining above its decider 200 Day EMA(today at 7766)

As following reasons therefore view turned cautious:-

1- 11 Sessions trading between 7582-7777 at the top of Pull Back Rally and this range was broken down on 07-04-2016.
2- Last 2 sessions closing below 11 Sessions range.
3- Intraday selling patterns formations were seen last Friday.

Next immediate supports are between 7518-7542 and valid break down of 7518 will mean 11 Sessions trading range(7582-7777) broken down confirmations and resultant deeper correction will be seen towards following next supports:- 

1- 7410-7443
2- 7347-7375

Fibonacci Retracement levels of Post-Budget Rally(6826-7777) are as follows:-

1- 13.0%- 7,653
2- 23.6%- 7,552
3- 27.0%- 7,520
4- 38.2%- 7,413(Crucial)
5- 50.0%- 7,301(Crucial)
6- 61.8%- 7,189(Crucial)
7- 70.7%- 7,104
8- 76.4%- 7,050
9- 78.6%- 7,029 
10-88.6%- 6,934  

As both supports and resistances between 7518-7644 and finally this range will decide the fate of on going Post Budget Rally correction therefore firstly should be watched in the beginning of next week because:- 

1- Finally below 7518 will mean deeper correction of Post Budget Rally because that will be 11 sessions(7582-7777) trading range broken down confirmation also.
2- Finally above 7644 will mean Post Budget Rally correction completion and fresh up moves beginning towards and above 7777.