Firstly Watch Crucial levels amid High Volatility

Intra Day Chart Analysis & Market Outlook

(06-05-2016)

Nifty-Intra Day Chart (05-May-2016):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7707-3329
2- High volatility according to the European markets.
3- Whole day actual trading between 7707-7777

Conclusions from intra day chart analysis 

Following lines were told yesterday in "7715 Will Confirm Strong Bounce above 7800":-

1- more than 1% down closing of all European markets after Red closing of all Asian markets and
2- Dow Jones is also trading more than 120 points at this moment
3- our view is turning Bullish with the expectations of fresh up moves above 7800

When sentiment was extremely depressed yesterday then we told for fresh up moves which was seen also today through Nifty whole day Green zone trading and 0.38% positive closing after intraday highest formation at 7777.55. Indian markets were highly volatile according to the volatility in European markets which will be clear from following charts:-

European markets and Nifty-Intra Day Chart (05-May-2016):-

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This peculiar character has been developed recently that many times Indian markets reacts exactly according to the moves in European markets and Dow's Futures which was seen today also as depicted above that last 3 hours of Nifty volatility is same as first 3 hours(from 12:30 PM to 03:30 PM IST) volatility in European markets. 

As technical positions reverses in such like today high volatility therefore immediate next moves will be understood according to first 1/2 hours intraday patterns formation tomorrow and firstly sustaining beyond crucial levels(7680-7777) should be watched for next immediate decisive moves confirmations.

7715 Will Confirm Strong Bounce above 7800

Intra Day Chart Analysis & Market Outlook

(05-05-2016)

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

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Technical Patterns and Formations in today intraday charts

1- Whole day Down moves in Bullish Falling Channels
2- Whole day actual trading between 7698-7749

Conclusions from intra day chart analysis 

Following line was told at 08:12 AM today in "Global markets pressure led Correction Continuation":-

correction continuation will be seen towards next supports between 7680-7715

As was told 100% same happened today with correction continuation towards 7680-7715 and also closing within this range at 7706.55 with today lowest also formation between this range at at 7697.25.

Although 0.52% down closing with whole day negative zone trading but whole day today trading was with  Down moves in Bullish Falling Channels therefore it will be understood that Indian markets are under consolidation process and once valid break out of mentioned supports range(7680-7715) will mean strong bounce above 7800. 

As sentiment is extremely depressed due to more than 1% down closing of all European markets after Red closing of all Asian markets and Dow Jones is also trading more than 120 points at this moment but our view is turning Bullish with the expectations of fresh up moves above 7800 in the coming 1/2 sessions because emergence of consolidation process beginning signals today. 

As no confirmation of on going correction correction completion yet and Global markets are in crashing like situation therefore for precaution valid break out of mention supports range(7680-7715) should be also firstly watched.

Global markets pressure led Correction Continuation

Intra Day Chart Analysis & Market Outlook(

04-05-2016)

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

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Technical Patterns and Formations in today intraday charts

1- 89 Points recovery in first 30 minutes
2- More than 3 hours trading with Mixed Patterns between 7861-7890 
3- Sharp down after deep Red opening of all the European markets and 100 points fall in Dow's Futures
4- More than last 2 hours trading with Mixed Patterns in between 7736-7773
5- Whole day actual trading between 7736-7771

Conclusions from intra day chart analysis 

Following lines were told on 02-05-2016 in "Firstly Up Moves Expectations"

up moves within last 11 Sessions actual trading range(7778-7992) will be seen in the coming sessions.

As most Asian markets are trading in Red therefore following lines were told  yesterday at 07:59 AM in "Pre-open Outlook(03-05-2016)":-

up moves within last 11 Sessions actual trading range(7778-7992) will be seen in the coming sessions

89 Points up move was seen  in first 30 minutes yesterday despite most Asian markets Red zone trading but slipping sharply also after deep Red opening of all the European markets hence yesterday trading will be understood Global markets sentiments affected and not on the back of technical positions formations because more than 5 hours trading was with Mixed Patterns at higher levels and lower levels of the day. 

Although more than 5 hours trading with Mixed Patterns but yesterday closing was below the lowest of last 11 sessions amid global markets pressure and still Global markets slipping is continued therefore Apr 28,2016 started correction continuation will be seen towards next supports between 7680-7715. As Indian markets down moves are Global markets pressure led and not on the back of as such technical positions formations therefore once Global markets improvement may result sharp recovery in Indian markets also.

Pre-open Outlook(03-05-2016)

 As most Asian markets are trading in Red with some are trading more than 1% down therefore sentiment is depressed today morning and in reaction possibility of slipping below yesterday lowest after weak opening can not be ruled out but expected that finally up moves within last 11 Sessions actual trading range(7778-7992) will be seen in the coming sessions because intraday consolidation patterns formation was seen in last 2 sessions.

Firstly Up Moves Expectations

Intra Day Chart Analysis & Market Outlook

(03-05-2016)

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

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Technical Patterns and Formations in today intraday charts

1- Most time sideways trading between 7785-7819 with consolidation patterns formations within it
3- Whole day actual trading between 7778-7829

Conclusions from intra day chart analysis 

As both opened Asian markets were trading in Red and Nikkei 225 was more than 3 down therefore whole day negative zone trading after weak opening but intraday consolidation patterns formations within most time sideways trading range therefore emergence of very Short Term up moves expectations above today highest(7829).  Consolidation was seen between 7790-7810 last Friday and follow up consolidation was seen within this range today also as well as no immediate resistance above 7829 therefore once its valid break out will mean up moves towards next resistances 7963-7991.

As consolidation patterns formations in last 2 sessions therefore expected that firstly up moves within last 11 Sessions actual trading range(7778-7992) will be seen in the coming sessions.

7790-7992 will confirm more than 3 % one sided decisive moves

Technical Analysis,Research & Weekly Outlook

(May 02 to May 06,2016)

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

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Technical Patterns and Formations in EOD charts

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- Thirdly last 10 Sessions actual trading between 7790-7992 
5- Rally continuation with Recent top of Wave-i of Wave-5 formations at 7992 on 28-04-2016

Conclusions from EOD chart analysis 

It is the peculiar character of post Budget 2016-17 rally is that Nifty is turning sideways after every 1/2 sessions decisive up moves for the last 36 sessions and now also Nifty is range bound within 7790-7992 for the last 10 Sessions as well as finally sustaining beyond this trading range will decide next Trend. 

Previous 10 Sessions intraday charts analysis

Nifty-Intra Day Chart (Apr 13 to Apr 29,2016):-

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Technical Patterns and Formations in last 10 Sessions intraday charts

1- Previous 9 sessions actual trading between 7796-7992 with lower levels supports and higher levels selling 
2- Previous 9 sessions trading range broken down on 29-04-2016
3- Closing within Previous 9 sessions trading range after lower levels consolidation on 29-04-2016  
4- 10 Sessions actual trading between 7790-7992 

Conclusions from 10 Sessions intra day chart analysis 

Previous 9 sessions actual trading between 7796-7992 with lower levels supports and higher levels selling and this trading range was broken down on 29-04-2016 but Nifty closed also within Previous 9 sessions trading range at 7849.80 same day after lower levels good consolidation and 100 points recovery also therefore still Nifty will be understood sideways within 10 Sessions actual trading range between 7790-7992 and finally sustaining beyond this range will decide next more than 3% moves.

Previous 4 Sessions intraday charts analysis

Nifty-Intra Day Chart (Apr 26 to Apr 29,2016):-

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Technical Patterns and Formations in last 4 Sessions intraday charts

1- Support between 7823-7852 on 26-04-2016
2- Selling between 7963-7991 on 26,27 & 28-04-2016
3- Sharp fall on 28-04-2016 
4- Good consolidation on on 29-04-2016 
5- 4 Sessions actual trading between 7790-7992 

Conclusions from 4 Sessions intra day chart analysis 

As good lower levels consolidation and equally good higher levels selling also in last 4 sessions therefore firstly Nifty has to prepare for next decisive moves within last 4 Sessions actual trading range(7790-7992) and expected that Nifty will firstly trade and prepare for next decisive moves within this crucial range in the beginning of next week.

Intra Day Chart Analysis(29-04-2016)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation Patterns between 7790-7810
3- Whole day actual trading between 7790-7889

Conclusions from intra day chart analysis 

Although most Asian markets were trading in deep Red after more than 1% negative closing of US markets last Thursday but Indian markets traded most time flat to positive in first 3 hours and moved down sharply only after deep Red opening of European markets. As Indian markets flat closing amid all the Global markets closing in Red and some closed more than 2.5% down also therefore it is clear that Indian markets completely out performed all Global markets last Friday which is a sign of Indian markets strength.  

AS firstly down moves in Bullish Falling Channel and after that lower levels consolidation between 7790-7810 therefore it will be immediate support of Nifty and until Nifty will not sustain below 7790 after complete selling till then decisive down moves will not be seen and follow up consolidation in the beginning on next week will mean first strong signal of last Thursday started correction completion as well.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend is sideways between 7790-7992.
2- Intermediate Term Trend is up 
3- Long Term Trend is up after last 10 sessions closing above it decider 200 Day EMA(today at 7777).

As post Budget Rally is correcting in sideways trading range and deeper correction is not being seen as well as Long Term Trend turning up confirmation through last 10 sessions closing above it decider 200 Day EMA(today at 7777) therefore still rally continuation will be considered but follow up consolidation is must within last 10 sessions trading range(7790-7992) because good selling was seen between 7963-7991 in last 4 sessions.

Intraday good consolidation above 7790 last Friday and it will be understood first indication of some up moves in the beginning of next week but until nifty will not sustain above 7992 after complete consolidation till then decisive up moves will not be seen therefore firstly sustaining beyond 7790-7992 should be watched in next week for more than 3 % one sided decisive moves.