Next Trend Confirmations through levels amid Global Markets volatility and Notes Banning news led Uncertainty

Intra Day Chart Analysis & Market Outlook

(11-11-2016)

Nifty-Intra Day Chart (10-Nov-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8550-8598
2- Whole day actual trading between 8511-8598

Conclusions from intra day chart analysis

As all the Global markets were blasting therefore strong up moves after gap up opening  and crossing of resistance at 8549 also but fresh selling just above it between 8550-8598 which is an indication of more preparation requirement through fresh consolidation for fresh rally. 

In fact all the Global markets were highly volatile therefore Indian markets could not sustain beyond any crucial level. Trading range between 8400-8549 was updated in all 3 previous Outlooks and Nifty closed within it in all 3 previous sessions despite consolidation below it between 8180-8345 on 09-11-2016 and selling above it between 8550-8598 on 10-11-2016.

Although strong up moves in US markets yesterday but SGX Nifty is 134 points down today morning which may be due to Rs.500 and Rs.1000 notes banning and weakness in some Asian markets. As such high Global markets and news led volatility as well as some uncertainty due Notes banning news therefore it will be better to get next trend confirmations through sustaining beyond following levels:- 

1- 8400-8549(First indication)
2- 8180-8598(Final confirmation)

8400-8549 will Confirm next Trend 

Intra Day Chart Analysis & Market Outlook

(10-11-2016)

Nifty-Intra Day Chart (09-Nov-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 4 hours consolidation between 8180-8345
2- Whole day actual trading between 8003-8476

Conclusions from intra day chart analysis 

As all the Global markets were crashing due to emergence of Donald Trumpt winning possibility in US Predential elections therefore more than 5% weak opening but 200 points recovery from lower levels in first 5 minutes and after that more than 4 hours consolidation between 8180-8345 therefore until Nifty will not sustain below 8180 after follow up selling till then decisive down moves will not be seen.

Fibonacci Retracement levels of  Wave-iii of Wave-3(7927-8968) were updated on 30-10-2016 in "Fresh Bullish Moves require confirmations due to Indo-Pak border Tension". Nifty recovered strongly after retracing up to 88.6% which is a strong signal of corrective Wave-iv of Wave-3 completion after panic bottom formation at 8002.25 today.

As highly volatile US markets today and in reaction some volatility may be seen in Indian markets also but finally sustaining beyond 8400-8549 will confirm next trend and that should be firstly watched tomorrow

Firstly Watch  8400-8549 amid US Presidential Elections Led high Volatility

Intra Day Chart Analysis & Market Outlook

(09-11-2016)

As next 2 sessions market will be on the back of news from US Presidential Elections and not on the base of technical charts therefore intraday charts analysis is not being updated today. News led volatility may be high and next trend will get confirmations through sustaining beyond 8400-8549 and should be firstly watched.

8400-8549 will confirm next trend

Intra Day Chart Analysis & Market Outlook

(08-11-2016)

Nifty-Intra Day Chart (07-Nov-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8510-8532
2- Whole day actual trading between 8482-8532

Conclusions from intra day chart analysis 

As FBI clears Clinton in Emails case therefore Dow's Futures was trading more than 220 points up today morning and in reaction all the Asian markets were blasting,resultant strong opening of Indian markets. Although such Bullish news but Indian markets completely under performed Global market and closed near the intraday lower levels of the day while almost all the Global markets closed near the higher levels of the day.

Selling was updated in following levels both in both previous Outlooks:-

1- Updated on 02-11-2016- 8532-8549
2- Updated on 03-11-2016- 8510-8537

As Nifty could not cross 1st selling(resistance) range despite such most strong Global cues and follow up selling was seen in 2nd selling(resistance) range therefore above mentioned selling(resistance) ranges will not be easily crossed. Until Nifty will not sustain above 8549 after complete follow up consolidation till then decisive up moves will not be seen.

As intraday charts of last Friday are showing suficiently good consolidation above 8400 therefore Nifty will not easily slip below it also and will firstly trade as well as prepare for post US Presidential Elections decisive moves between and near about 8400-8549.

Global markets news led today like high volatility can not be ruled out in the coming before Elections results 1/2 sessions and finally valid break out of 8400-8549 will confirm next trend.

As out of station therefore Stock Market Outlook of today is not being updated.