As busy therefore Stock Market Outlook of today is not being updated.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Only 8275 will confirm next big Trend
Mid-session Outlook(05-01-2017)
Although flat closing yesterday near the lower levels of the day but whole day consolidation patterns formations were seen therefore fresh up moves expectations were projected at 05:50 PM yesterday and that is being seen since gap up opening today.
Certainly strong up moves today but immediate resistances are just above today highest(8251.85) between 8250-8275 which are technically not much strong but most crucial because that will decide waves structure of on going that correction which started on 07-09-2016 from 8968.70 therefore only 8275 should be watched for the confirmation of next big trend.
Last 4 sessions Sideways Market require confirmations from Valid Break out
Intra Day Chart Analysis & Market Outlook
(05-01-2017)
Nifty-Intra Day Chart (04-Jan-2017):- |
Just click on chart for its enlarged view |
1- Whole day all the Down moves in Bullish Falling Channels
2- Whole day actual trading between 8181-8218
Conclusions from intra day chart analysis
Although flat closing near the lower levels of the day after slipping from higher levels but whole day all the Down moves in Bullish Falling Channels which are consolidation patterns therefore emergence of fresh up moves expectations today.
Last 4 sessions sideways trading between 8134-8218 with selling patterns formations in previous 3 sessions and good consolidation today therefore mixed patterns formations will be understood and Nifty has to prepare for next decisive moves within and near about this range.
Let Nifty prepare for next trend beyond this range then will be updated according to intraday charts patterns formations and till then valid break of last 4 sessions trading range should be watched for next decisive moves confirmations.
Just Watch 8134-8219 amid Down Moves View
Intra Day Chart Analysis & Market Outlook
(04-01-2017)
Nifty-Intra Day Chart (03-Jan-2017):-
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| Just click on chart for its enlarged view |
1- Slipping 47 points immediately after opening
2- Minor consolidation between 8149-8163
3- Up moves in Bearish Rising Channel
4- Selling patterns formation between 8204-8219
5- Whole day actual trading between 8149-8219
Conclusions from intra day chart analysis
Although all the Asian markets were trading positive but Nifty slipped 47 points immediately after Green opening and minor consolidation at lower levels of the day therefore recovery was seen. As up moves in Bearish Rising Channel and higher levels selling patterns formations also therefore view will not bullish.
As selling patterns formations are being seen in last 3 sessions therefore it seems that Indian markets are under selling process and expected that finally decisive down moves will be seen below 8100 after follow up selling in the next 1/2 sessions.
As Dow Jones is trading more than 160 points up and if closes with such good gains today then sentiment may remain Bullish tomorrow morning and Indian markets may also remain positive if most Asian markets remains strong. Higher levels selling patterns formation between 8204-8219 and until Nifty will not sustain above 8219 after follow up consolidation till then decisive up moves will not be seen and once fresh selling will mean strong possibility of decisive down moves beginning.
Although down moves are expected but for confirmation valid break out of 8134-8219 should also be watched for next trend confirmation.
Firstly Watch Levels amid some down moves expectations
Intra Day Chart Analysis & Market Outlook
(03-01-2017)
Nifty-Intra Day Chart (02-Jan-2017):-
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| Just click on chart for its enlarged view |
1- Consolidation between 8134-8155
1- 2 Hours up moves in Bearish Rising Channel
3- Whole day actual trading between 8134-8212
Conclusions from intra day chart analysis
Following lines were told yesterday in "Very Short Correction Expectations":-
very short correction is firstly expected in the beginning of next week
very short correction was told yesterday and most of the time negative zone trading and Red closing today.
Although firstly some consolidation at lower levels of the day but after that 2 hours up moves in Bearish Rising Channel also therefore today intraday trading patterns will be understood Mixed and firstly Nifty has to prepare for next decisive moves within and near about today trading range.
Although today closing near the higher levels of the day but sufficient selling patterns were also seen between 8134-8212 in last 2 sessions therefore view is not be Bullish and down moves are expected below 8134.
As valid break break out of 8134-8212 will be next decisive moves confirmation therefore should be firstly watched amid some down moves expectations.
Very Short Correction Expectations
Intra Day Chart Analysis & Market Outlook
(02-01-2017)
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| Just click on chart for its enlarged view |
1- Fast up moves immediately after opening
2- More than 5 hours up moves in Bearish Rising Channel
3- Whole day actual trading between 8115-8197
Conclusions from intra day chart analysis
Although whole day up moves after positive opening and after that whole day up moves also but in Bearish Rising Channel therefore very short correction is firstly expected in the beginning of next week.
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