Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(17-02-2017)

Nifty-Intra Day Chart (16-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8720-8743
2- Follow up consolidation at higher levels after up moves
3- Whole day actual trading between 8720-8783

Conclusions from intra day chart analysis 

Although yesterday closing was near the lower levels of the day after sharp down from higher levels but we were not Bearish and posted following named topic yesterday:-

Still Rally continuation Expectations

As lower levels consolidation and after that up moves with follow up consolidation therefore on going rally continuation is expected tomorrow. Nifty is sideways between 8715-8826 for the last 9 sessions and firstly sustaining above 8826 should also be watched for fresh and decisive up moves towards 9000 and it is expected also. 

Still Rally continuation Expectations

Intra Day Chart Analysis & Market Outlook

(16-02-2017)

Nifty-Intra Day Chart (15-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Consolidation Patterns formations in last 4 hours between 8713-8752
3- Whole day actual trading between 8713-8807

Conclusions from intra day chart analysis 

Although 0.77% negative closing after slipping from higher levels but firstly Down moves in Bullish Falling Channels and after that last 4 hours consolidation Patterns formations therefore it will be understood that Indian markets in consolidation process and preparing for decisive up moves.

Previous 7 sessions sideways trading was between 8715-8826 and Nifty slipped below it to 8713 today but closed above it with whole day intraday consolidation therefore still rally continuation is expected above 8826 in the coming 3/4 sessions.

Emergence of rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(15-02-2017)

Nifty-Intra Day Chart (14-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channels
2- Sharp down in last 20 minutes
3- Whole day actual trading between 8773-8820

Conclusions from intra day chart analysis 

Although most time negative zone trading and sharp down in last 20 minutes also but whole day down moves in Bullish Falling Channels which is consolidation pattern therefore emergence of rally continuation expectations above last 7 sessions highest(8826). As Indian markets under performed Global markets therefore some more follow up consolidation is also required for fresh and decisive up moves beginning.

Expected that Nifty firstly trade between today trading range and prepare for fresh rally as well as sustaining it beyond should also be watched for confirmations.

Intra Day Chart Analysis & Market 

Outlook(14-02-2017)

Nifty-Intra Day Chart (13-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 8755-8826

Conclusions from intra day chart analysis 

Although firstly slipping after positive opening but in Bullish Falling Channel therefore up moves in last 2 hours but in Bearish Rising Channel therefore again today market will understood with mixed Patterns formations.

Last 6 sessions trading between 8715-8826 with last 3 sessions trading with mixed Patterns formations therefore Nifty has to prepare for next trend and decisive moves within and near about this range which will be done tomorrow and finally sustaining beyond this range will confirm next trend which should be firstly watched in the coming sessions.

8715-8822 will confirm next trend

Intra Day Chart Analysis & Market Outlook

(13-02-2017)

Nifty-Intra Day Chart (10-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- More than 2 hours trading with mixed Patterns between 8788-8804
3- Last 2 hours high volatility 
4- Whole day actual trading between 8772-8822

Conclusions from intra day chart analysis 

Although firstly consolidation through down moves in Bullish Falling Channels but after that whole day trading with mixed Patterns formations with last hours high volatility also therefore one sided intraday patterns formations will not be understood. As Indian markets under performed all day Global markets despite whole day positive zone trading therefore view will not be Bullish despite Green closing last Friday.

Nifty is trading between 8715-8822 for the last 5 sessions and traded near the higher levels of this range last Friday but no clear patterns formations therefore Nifty has to prepare for next trend within and near about this range which will be done in the beginning of next week and finally sustaining beyond this range will confirm next trend.