As busy therefore Stock Market Outlook of today is not being updated but Mid-session Outlook may be updated during trading hours today.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Short Term Correction Expectation Tomorrow
Intra Day Chart Analysis & Market Outlook
(28-04-2016)
Nifty-Intra Day Chart (27-Apr-2016):- |
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1- Selling patterns formation between 7972-7991
2- Whole day actual trading between 7941-7991
Conclusions from intra day chart analysis
Although closing near the higher levels of the day and also at the top of on going Post Budget-2016 rally but higher levels selling patterns formations were also seen today therefore Short Term Correction below today lowest(7941) with trading and closing within last 2 sessions trading range(7823-7991) is expected tomorrow.
Firstly watch sustaining beyond 7954-7980 Tomorrow
Intra Day Chart Analysis & Market Outlook
(27-04-2016)
Nifty-Intra Day Chart (26-Apr-2016):-
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1- Support between 7823-7852
2- Sharp 45 points 1 minute jump at 12:30 PM with sudden rise in USDINR and after positive opening of European markets
3- Last 2 hours trading with Mixed Patterns between 7954-7974
4- Whole day actual trading between 7823-7974
Conclusions from intra day chart analysis
Following lines were told yesterday in "Firstly Watch 7828 Tomorrow":-
1- last more than 5 hours trading with Mixed Patterns between 7828-7866 and closing also within 4 previous sessions trading range(7843-7978) despite slipping below it lowest
2- therefore now Nifty will be understood sideways 7828-7980 and firstly valid break out this range should be watched for next trend confirmations.
Although Nifty slipped below last 5 sessions lowest(7828) but could not sustain below it and recovered after intraday lowest formation at 7823 therefore still Nifty will be understood sideways between last 6 sessions trading range(7823-7978). As next resistances are up to 7980 therefore next up move confirmation will be after sustaining above 7980.
Firstly lower levels supports amid weaker Asian markets after after that sudden jump at 12:30 PM but last 2 hours trading with Mixed Patterns between 7954-7974 therefore some more consolidation is required within and near about this range for sustaining above 7980. As closing near the higher levels of the day therefore possibility of up moves above 7980 can not be ruled out but sustaining above it must for the confirmation of fresh rally towards and above 9134.20 because Neckline of 98 sessions Inverse Head And Shoulders pattern is at 7980.
As last 2 hours trading with Mixed Patterns between 7954-7974 and valid break out of this range will be next trend first indication as well as sustaining above 7980 will be next strong up moves confirmation therefore firstly sustaining beyond 7954-7980 should be watched tomorrow.
Firstly Watch 7828 Tomorrow
Intra Day Chart Analysis & Market Outlook
(26-04-2016)
Nifty-Intra Day Chart (25-Apr-2016):- |
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1- Slipping immediately after opening
2- More than 5 hours trading with Mixed Patterns between 7828-7866
3- Whole day actual trading between 7828-7911
Conclusions from intra day chart analysis
As most Asian markets were trading in Red and some were more than 0.60% down therefore firstly slipping after positive opening but last more than 5 hours trading with Mixed Patterns between 7828-7866 and closing also within 4 previous sessions trading range(7843-7978) despite slipping below it lowest therefore now Nifty will be understood sideways 7828-7980 and firstly valid break out this range should be watched for next trend confirmations.
Today intraday moves were effected in following manner:-
1- Most Asian markets were more than 0.60% down at the opening time of Indian markets therefore Indian markets slipping immediately after opening
2- Dow's Futures was trading trading with minor losses but it fell sharply and traded more than 80 points down with intraday bottom formation at 01:45 PM and exactly at this time Nifty also formed its bottom as well as moved up with up moves in both Dow's Futures and all European markets.
Dow's Futures-Intra Day Chart (25-Apr-2016):-
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1- 7828-7866
2- 7828-7980
As weaker Global markets led some selling patterns were was also seen today therefore once sustaining below 7828 will initiate deeper correction because that will be last 5 sessions trading range broken down confirmation also and should be firstly watch tomorrow.
Next Target of Nifty at 9134.20
Technical Analysis,Research & Weekly Outlook
(Apr 25 to Apr 29,2016)
Waves Structure of Post Budget-2016 Rally
Nifty-EOD Chart (22-Apr-2016):-
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1- Impulsive Wave-i of Wave-5(on Long Chart) beginning after bottom formation at 6825.80 on 29-02-2016
2- Firstly 10 sessions sideways trading between 7405.15-7583.70
3- Secondly 16 sessions sideways trading between 7516.85-7777.60
4- Forceful break out of Long Term Trend decider 200 Day EMA(today at 7766) on 13-04-2016
5- Last 4 sessions sideways trading between 7842.75-7978.45
5- Rally continuation with Recent top of Wave-i of Wave-5 formations at 7978.45 on 21-04-2016
6- Forceful break out of Long Term Trend decider 200 Day EMA(today at 7771) on 13-04-2016 and last 5 sessions closing above it
Conclusions from EOD chart analysis
Rally continuation after all trends turning up confirmations because last 5 sessions closing above Long Term Trend decider 200 Day EMA(today at 7771) therefore rally continuation will be expected above the top(7978.45) of on going pull back rally.
96 sessions Inverse Head & Shoulders Pattern formations
Nifty-EOD Chart (22-Apr-2016):-
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1- 96 sessions Inverse Head And Shoulders pattern formations with its Neckline at 7980
2- Head formation at 6825.80 on 29-02-2016
Conclusions from EOD chart analysis
Head formation at 6825.80
Neckline of pattern is at 7980
7980-6825.80= 1154.20 points distance between Head and Neckline
Inverse Head and Shoulders Neckline broken out confirmation will mean next target of Nifty at 7980+1154.20=9134.20
Nifty-Intra Day Chart (Apr 18 to Apr 22,2016):-
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1- Up moves with intraday corrections on 18-04-2016
2- Down moves in Bullish Falling Channel on 20-04-2016
3- Last 5 hours sideways trading between 7878-7920 on 20-04-2016
4- Mixed Patterns between 7963-7978 on 21-04-2016
5- Mixed Patterns between 7926-7947 on 21-04-2016
6- Support between 7874-7894 on 22-04-2016
7- Support between 7886-7892 on 22-04-2016
8- Down moves in Bullish Falling Channels on 22-04-2016
9- 4 Sessions actual trading between 7843-7978
Conclusions from 4 Sessions intra day chart analysis
Last 4 sessions trading with consolidation and Mixed Patterns formations and clear selling patterns were not seen therefore more signals of up moves but follow up consolidation is also required between or near about 7926-7978 because some selling within this range was also seen on 21-04-2016. As whole day consolidation patterns formations on 22-04-2016 and some consolidation was also seen at lower levels in last 4 sessions therefore strong possibility of fresh up moves above last 4 sessions highest(7978) after follow up consolidation.
Conclusions (After Putting All Studies Together)
Following lines have been told in "last 3 sessions Outlooks":-
1- Next resistances between 7920-7980
2- Nifty has to prepare for next decisive moves between 7843-7980 and finally sustaining it beyond will be next big moves confirmation.
Nifty could not cross 7980 in last 3 sessions of previous week and traded between 7843-7980,it is confirm that finally sustaining it beyond will decide Next 3% Moves.
As more consolidation in last 4 sessions therefore strong possibility of fresh up moves above last 4 sessions highest(7978) after follow up consolidation which will pave the way for final up moves above 9134.20 also.
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