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Firstly Watch Levels for Next Trend Confirmations
Intra Day Chart Analysis & Market Outlook
(06-10-2016)
Nifty-Intra Day Chart (05-Oct-2016):-
Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Last 5 hours Mixed Patterns between 8732-8762
3- Whole day actual trading between 8732-8806
Conclusions from intra day chart analysis
Following line was told in previous 2 sessions Outlooks:-
"Nifty will firstly trade and prepare for next decisive moves within 8700-8793"
Nifty traded whole days except 3 minutes within 8700-8793 in last 2 sessions with following patterns:-
1- More than 10 hours trading between 8732-8762 in last 2 sessions.
2- Both days consolidation with Down moves in Bullish Falling Channels
3- Volatility after RBI Credit Policy yesterday
4- Last 5 hours Mixed Patterns between 8732-8762 today
Although today closing near the lower levels of the day after some selling at higher levels but as such genuine selling patterns were not seen and consolidation patterns formations also therefore following levels should be firstly watched for one by one for confirmations of next trend because Nifty will trade and prepare for next trend within these ranges:-
1- 8732-8762(More than 10 hours trading range of last 2 sessions)
2- 8700-8793
Intra Day Chart Analysis & Market
Outlook(05-10-2016)
Nifty-Intra Day Chart (04-Oct-2016):-
Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Volatility in last hours before and after RBI Credit Policy
3- Whole day actual trading between 8737-8783
Conclusions from intra day chart analysis
Following lines were told at 08:03 AM today in "Firstly Post Credit Policy Moves preparations within Trading Range":-
"Nifty will firstly trade and prepare for next decisive moves within 8700-8793 till 02:30 PM when RBI Credit policy will be announced and finally valid break out of this trading range will confirm next trend"
Nifty traded within mentioned range(8700-8793) between 8737-8783 today with firstly consolidation through Down moves in Bullish Falling Channel but only volatility in last hours before and after RBI Credit Policy and no one sided moves despite 25 BPS rates cuts. As technical positions reverses amid such news based today like volatility therefore expected that Nifty will again trade and prepare for next decisive moves within 8700-8793 and finally valid break out of this trading range will confirm next trend.
As consolidation in first 3 hours through "Down moves in Bullish Falling Channel" therefore up moves continuation expectations are alive but follow up consolidation is must tomorrow because resistances between 8770-8793 above today closing.
Firstly Post Credit Policy Moves preparations within Trading Range
Intra Day Chart Analysis & Market Outlook
(04-10-2016)
Nifty-Intra Day Chart (03-Oct-2016):-
Just click on chart for its enlarged view |
1- Sharp up after gap up opening
2- Up moves with intraday corrections
3- Slow up moves in last 4 hours
4- Whole day actual trading between 8635-8745
Conclusions from intra day chart analysis
Although sharp up after gap up opening and up moves also with intraday corrections but slow up moves in last 4 hours therefore some profit booking can not be ruled out also at higher levels of the day. As sufficient selling has not been not seen yet therefore immediate down moves will not seen until complete fresh selling will not develop today.
As slow up moves were seen above 8700 and next resistances are up to 8793 therefore Nifty will firstly trade and prepare for next decisive moves within 8700-8793 till 02:30 PM when RBI Credit policy will be announced and finally valid break out of this trading range will confirm next trend which should be watched today.
Firstly Pull Back Rally within Sideways Market
Technical Analysis,Research & Weekly Outlook
(Oct 03 to Oct 07,2016)
Nifty-EOD Chart (30-Oct-2016):-
Just click on chart for its enlarged view |
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(8968.70 on 07-09-2016)
7- Corrective Wave-iv of Wave-3 continuation with recent bottom formation at 8556 on 30-09-2016
Conclusions from EOD chart analysis
Correction is on with recent bottom formation at 8556 and no confirmation of its completion yet.
Intra Day Chart Analysis(30-09-2016)
Nifty-Intra Day Chart (30-Sep-2016):-
Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections in last hours
3- Whole day actual trading between 9556-8637
Conclusions from intra day chart analysis
Although sentiment was nervours due to Indo Pak border tension but whole day consolidation was seen through intraday corrections and Bullish Falling Channel formations last Friday therefore up moves are expected in the beginning of next week.
Conclusions (After Putting All Studies Together)
Trends of Nifty are as follows:-
1- Long Term Trend is up.
2- Intermediate Term Trend is up and will be down below 8477.
3- Short Term Trend down.
Next resistances of Nifty are as follows:-
1- 8770-8793
1- 8854-8873
2- 8874-8902
3- 8935-8956
Next supports of Nifty are as follows:-
1- 8477-8580(Multiple and strong supports)
Multiple and strong supports between 8476-8580 were updated on 25-09-2016 in "Firstly Watch Immediate Supports for First Indication" and Nifty got supports within this range last Friday therefore this supports range has become stronger and until Nifty will not sustain below 8477 after complete selling till then fresh decisive down moves will not be seen.
As follow up consolidation last Friday within above mentioned supports range therefore firstly Pull Back Rally towards 8770 will be seen in the beginning of next week. Now Nifty will be understood sideways between 8477-8956 and finally sustaining beyond this range will confirm next trend which should also be watched for its confirmations. As Ceasefire violation by Pakistan and volatility may be high due to it in next week therefore traders should be cautious because Stop Loss triggering risk may also be high.
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