As busy therefore Stock Market Outlook of today is not being updated 

Last Resistances of 28 Sessions will decide next Trend

Market Outlook(26-05-2016)

As blasting Global markets today morning therefore 85 points gains in first 30 seconds after huge gap up opening and closing near the higher levels of the day after whole day up moves. Still Nifty will be understood 28 sessions sideways between 7678-7992 and sustaining above 7992 will mean Wave-3 of post Budget 2016-17 rally beginning after Wave-2 correction completion within sideways trading between 7678-7992. 

Next and last resistances within this range are between 7954-7992 and once sustaining above will confirm fresh strong rally above life time high(9119). As mentioned resistances are almost 1 month old and intraday selling patterns were not seen today therefore  rally continuation expectations above 7992 are alive after follow up consolidation near about it.

As last resistances of 28 sessions trading range are between 7954-7992 and its valid break out will decide next trend therefore should be firstly watched tomorrow for next trend confirmations.

Firstly Watch Crucial Levels amid Blasting Global Markets Today 

Following lines were told at 03:31 AM on 24-05-2016 in "Firstly Watch 7678-7730 for next Big Moves":-

As both selling and consolidation were seen in previous 2 sessions therefore firstly valid break out of last supports range(7678-7730) of last 26 sessions should be watched for next big moves beginning confirmations.

Supports between 7678-7730 were updated in previous 2 Outlooks and Nifty could not slip below it as well as closed above it in both previous sessions. 

As all the Global markets have started blasting in last 19 hours therefore in reaction strong gap up opening will be seen in Indian markets also. 27 Sessions sideways market between 7678-7992 and next immediate resistances within this range are as follows:-

1- 7788-7811
2- 7838-7853 

Let Nifty sustain above 7853 then strong rally will be seen otherwise today strong market will be blasting Global cues led only.  As immediate supports and resistances are between 7678-7853 therefore next strong one sided decisive moves will be seen only after sustaining beyond this range because that will be confirmation of Long Term Trend. Nifty is hovering around Long Term Trend decider 200 Day EMA(today at 7780) for the last 27 sessions. Sustaining below 7678 will mean broken down confirmation and sustaining above 7853 will be first strong indication of broken out therefore sustaining beyond firstly these crucial levels(7678-7853) should be watched in the coming sessions amid blasting Global cues led  markets today. 

Firstly Watch 7678-7730 for next Big Moves

Intra Day Chart Analysis & Market Outlook

(24-05-2016)

As I have not not completely recovered yet therefore detailed analysis of Nifty is not being updated and only conclusive views are being posted which are as follows:-

Following lines were told on 22-05-2016 in "Firstly Watch sustaining beyond 7678 for much deeper correction confirmations":-

1- 25 Sessions trading between 7678-7992 with lower levels last supports between 7678-7730 and its valid break down will mean deeper correction 
2- down moves below last Friday lowest(7736) are expected in Indian markets

As was told 100% same happened and Nifty slipped below 7736 as well as closed just above mentioned last supports(7678-7730) at 7731.05 after intraday bottom formations within mentioned supports range at 7722.20 on 23-05-2016

Although Nifty closed near the lower levels of the day yesterday but whole day as such selling patterns were not seen but some consolidation patterns were also seen and last supports of last 26 sessions trading range(7678-7992) are between 7678-7730 therefore complete follow up selling is must in the coming sessions for sustaining below 7678.

Last 3 sessions closing below Long Term Trend decider 200 Day EMA(today at 7796) and higher levels some selling also therefore deeper correction possibility below 7678 is still alive but after fresh follow up selling because some consolidation patterns were seen yesterday. As both selling and consolidation were seen in previous 2 sessions therefore firstly valid break out of last supports range(7678-7730) of last 26 sessions should be watched for next big moves beginning confirmations.

Firstly Watch sustaining beyond 7678 for much deeper correction confirmations

As not feeling well therefore detailed analysis of Nifty is not being updated and only conclusive views are being posted which are as follows:-

25 Sessions trading between 7678-7992 with lower levels last supports between 7678-7730 and its valid break down will mean deeper correction confirmation towards following Retracement levels:- 

1- 38.2%- 7546(Crucial)
2- 50.0%- 7409(Crucial)
3- 61.8%- 7271(Crucial)

Although all the European markets closed more than 1% up and Dow Jones also closed 65 points up last Friday but down moves below last Friday lowest(7736) are expected in Indian markets because fresh selling patterns formations were seen after P-notes tightening news last Friday therefore firstly sustaining beyond 7678 should be watched in the beginning of next week which may generate much deeper correction also after sustaining below it because that will be 25 sessions trading range broken down confirmation.