Finally rally above 9000 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(03-03-2017)

Nifty-Intra Day Chart (02-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation patterns formations between 8940-8992
2- Sharp fall in last hour
3- Whole day actual trading between 8880-8992

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after sharp fall in last hour but selling patterns were not seen and consolidation patterns formations in first 5 hours therefore view will not be Bearish because today down moves will be cooling down of sentiments which turned heated after 300 points Dow Jones rally last Wednesday.

As above reasons therefore expected that finally rally will be seen above 9000 after follow up consolidation in next 1/2 sessions because Indian markets are Bullish and any deeper correction can not be considered after such 1 day fall.

Rally continuation after short term correction completion 

Intra Day Chart Analysis & Market Outlook

(02-03-2017)

Nifty-Intra Day Chart (01-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 70 Points up in first 20 minutes after strong opening
2- 5 Hours consolidation Patterns between 8927-8949 
3- Whole day actual trading between 8910-8950

Conclusions from intra day chart analysis 

As most Asian markets were trading positive after some consolidation yesterday therefore 70 Points up in first 20 minutes after strong opening. Although slipping from higher levels in last half hour but 5 hours good consolidation between 8927-8949 therefore rally continuation is expected after previous 3 sessions short term correction completion.

Firstly watch next supports for on going correction continuation/completion 

Intra Day Chart Analysis & Market Outlook

(01-03-2017)

Nifty-Intra Day Chart (28-Feb-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Selling patterns formation between 8888-8897
3- Whole day actual trading between 8868-8914

Conclusions from intra day chart analysis 

Although firstly down moves but selling patterns formation between 8888-8897 were also seen therefore today trading will be understood with mixed Patterns formations and Nifty will remain sideways between following supports and resistances:-

1- Supports between 8864-8876
2- Supports between 8812-8834
3- Supports between 8717-8750(strong supports)
1- Resistance between 8918-8927
2- Resistance between 8941-8950
3- Resistance between 8967-8981

As one sided technical position formations was not seen today therefore Nifty will have to traded and prepare for next decisive moves within above mentioned supports and resistances. Correction is on and no confirmation of its completion yet therefore some more down moves can not be ruled out but next supports are lying between 8864-8876 and firstly sustaining it beyond should be watched for on going correction continuation/completion.

As busy therefore Stock Market Outlook of today is not being updated but Mid-session Outlook may be posted during trading hours.