Happy Republic Day

Rally Continuation above 8600

Intra Day Chart Analysis & Market Outlook

(27-01-2017)

Nifty-Intra Day Chart (25-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Whle day up moves with intraday consolidation
2- Whole day actual trading between 8494-8612

Conclusions from intra day chart analysis 

As whole day up moves after positive opening with intraday consolidation also therefore rally continuation is expected above 8600 but short Term Indicators have turned over bought today after last 3 sessions rally therefore minor correction for consolidation can not be ruled out any day but finally rally continuation will be seen because until complete selling patterns on EOD charts will not develop till then decisive down moves will not be seen. 

Rally Continuation above 8500

Intra Day Chart Analysis & Market Outlook

(25-01-2017)

Nifty-Intra Day Chart (24-Jan-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8428-8445
2- Last hours up moves with consolidation
3- Whole day actual trading between 8399-8480

Conclusions from intra day chart analysis 

Although Nifty closed at the top of Rally at 8475.80 today but we told for Rally continuation in all the previous 11 Outlooks since 08-01-2017. Even though when Nifty closed near the lowest of the day last Friday but told following conclusive line on 22-01-2017 in "Still Rally continuation Expectations":-

finally rally will remain continued above previous 7 sessions highest(8460)

Up moves beginning after positive opening and whole day rally continuation after follow up consolidations as well as no selling pattern formations today therefore rally continuation is expected above 8500. As very short Term Indicators have turned over bought today after last 2 sessions rally therefore minor correction for consolidation can not be ruled out any day but finally rally continuation will be seen because until complete selling patterns on EOD charts will not develop till then decisive down moves will not be seen.

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

Still Rally continuation Expectations

Intra Day Chart Analysis & Market Outlook

(23-01-2017)

Nifty-Intra Day Chart (20-Jan-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 8400-8423
2- Down moves in Bullish Falling Channel in last 3 hours
3- Whole day actual trading between 8341-8423

Conclusions from intra day chart analysis 

As uncertainty and confusion surrounding Donald Trump’s policies and most Global markets were weak on his oath of office taking day therefore weak opening of Indian markets. Although firstly Mixed Patterns formations between 8400-8423 but in the last 3 hours Down moves in Bullish Falling Channel therefore view will not be Bearish despite day's closing at the lower levels of the day after slipping and closing below previous 6 sessions lowest(8374).

Still expected that Nifty will move above last Friday highest in the beginning of next week and finally rally will remain continued above previous 7 sessions highest(8460)