Consolidation Process is on

Intra Day Chart Analysis & Market Outlook

(18-11-2016)

Nifty-Intra Day Chart (17-Nov-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 8061-8151

Conclusions from intra day chart analysis 

Although first 15 minutes up moves but after that whole day down moves in Bullish Falling Channels therefore it will be understood that Indian markets are in consolidation process because consolidation was seen in last 2 sessions also between 8090-8236,same view which was posted yesterday that Nifty will trade and prepare for next up moves within and near about this range. 

It should be kept in mind that slipping below today lowest(8061) is also possible during consolidation process. Let more consolidation develop and bottom formation confirmation come then first strong signal of on going correction completion will be considered and till then Nifty will be understood sideways between 8003-8236. 

Consolidation Process beginning Signals 

Intra Day Chart Analysis & Market Outlook

(17-11-2016)

Nifty-Intra Day Chart (16-Nov-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 8090-8193

Conclusions from intra day chart analysis 

Although flat closing near the lower levels of the day today but no intraday selling patterns formations and consolidation through whole day down moves in Bullish Falling Channels also therefore view will not be Bearish. As intraday consolidation patterns formations yesterday and follow up consolidation today also therefore signals of Indian markets moving into consolidation phase which means that Indian markets are preparing for fresh decisive up moves but this process will take its own time.

Last 2 sessions actual trading between 8090-8236 and expected that Nifty will trade and prepare for next up moves within and near about this range. It should be kept in mind that slipping below 8090 is also possible during process. Let more consolidation develop and bottom formation confirmation come then on going correction completion will be considered and till then Nifty will be understood sideways between 8003-8236. 

Strong Possibilities of Up Moves above 8193

Intra Day Chart Analysis & Market Outlook

(16-11-2016)

Nifty-Intra Day Chart (15-Nov-2016):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours trading between 8121-8193
2- All the Down moves in Bullish Falling Channels
3- Whole day actual trading between 8094-9236

Conclusions from intra day chart analysis 

102 points fall in first minute after huge gap down opening and more than 5 hours trading between 8121-8193 with all the Down moves in Bullish Falling Channels therefore signals of some up moves or Pull Back Rally. Consolidation was seen between 8180-8345 on 09-11-2016 but most time trading below it today with closing near the lower levels of the day which is an indication of on going correction continuation but intraday selling patterns were not seen and consolidation patterns formations today therefore Nifty will not sustain below today lowest and strong possibilities of up moves above 8193.

Firstly watch 8180 for on going correction continuation/completion confirmation 

Intra Day Chart Analysis & Market Outlook

(15-11-2016)

Nifty-Intra Day Chart (11-Nov-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8354-8415
2- Whole day actual trading between 8285-8460

Conclusions from intra day chart analysis 

As all the Asian markets were trading weak therefore 68 points gap down opening and after that follow up selling therefore more down moves are expected in the beginning of next week. More than 4 hours consolidation was seen between 8180-8345 on 09-11-2016 and valid break down of this range should be firstly watched now for on going correction continuation/completion confirmation.