Up Moves Expectations

Intra Day Chart Analysis & Market Outlook

(05-08-2016)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8518-8541
2- Whole day actual trading between 8518-8589

Conclusions from intra day chart analysis 

Although slipping 81 points within first 18 minutes but lower levels consolidation patterns formations also therefore up moves are expected in the coming sessions. As whole day intraday consolidation pattern formations yesterday also therefore strong signals of last Monday started correction completion as well as high possibility of rally continuation above the top(8711.30) of on going rally.

Rally Continuation after Correction Completion

Intra Day Chart Analysis & Market Outlook

(04-08-2016)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Consolidation between 8545-8548
3- Whole day actual trading between 8530-8635

Conclusions from intra day chart analysis 

Although 0.91% down closing near the lower levels of the day after whole day negative zone trading today but good intraday consolidation patterns formations therefore expected that fresh up moves will be seen in the coming sessions and strong signals of last Monday started correction completion as well as high possibility of rally continuation above the top(8711.30) of on going rally. 

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

Firstly watch 8574-8711 for next Trend Confirmations

Intra Day Chart Analysis & Market Outlook

(02-08-2016)

Nifty-Intra Day Chart (01-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8683-8711(Immediate Resistances)
2- Last 3 hours mixed Patterns between 8591-8643
3- Whole day actual trading between 8591-8711

Conclusions from intra day chart analysis

Rally continuation was expected and Nifty traded 72 points also in first 2 hours today but fresh selling developed and Nifty slipped from higher levels. Immediate supports were between 8574-8595 and Nifty got supports within it in last 3 hours but with mixed Patterns between 8591-8643 therefore follow up fresh consolidation is firstly required for fresh up moves above today highest(8711)

As immediate supports and resistances are between 8574-8711 therefore Nifty has to prepare for next decisive moves within and near about this range and finally valid break out of this range will decide next trend which should be firstly watched for confirmations.  

Rally continuation Expectations

Technical Analysis,Research & Weekly Outlook

(Aug 01 to Aug 05,2016)

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

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning after bottom formation at 6825.80 on 29-02-2016
2- Wave-1(7992 on 28-04-2016)  
3- Wave-2(7678.35 on 06-05-2016)
4- Wave-i of Wave-3(8294.95 on 07-06-2016)
5- Wave-ii of Wave-3(7927.05 on 24-06-2016)
6- Wave-iii of Wave-3 contimuation with recent top formation at 8674.70 on 28-07-2016) 

Conclusions from EOD chart analysis 

Rally is very much on and its continuation is expected because selling patterns formations not seen on EOD charts.

Intra Day Chart Analysis(29-07-2016)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8637-8653
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8632-8670

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day in sideways 38 points whole day trading but intraday patterns are showing good consolidation patterns formations therefore expected that on going rally will remain continued despite 0.32% negative closing last Friday.

Conclusions (After Putting All Studies Together)

All trends are up and rally is very much on as well as its continuation is expected because consolidation patterns formations was seen in last 2 sessions intraday charts. It is confirm that until clear and complete selling patterns will not develop on EOD and intraday charts till then Short/Intermediate Term correction will not be seen.

As Short/Intermediate Term Indicators have turned overbought therefore correction is very much due but that will happen only after suficient selling patterns formations which has not developed yet therefore on going Wave-iii of Wave-3 will remain continued in the coming week.