Very Short Term correction expectations

Intra Day Chart Analysis & Market Outlook

(28-04-2017)

Nifty-Intra Day Chart (27-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel
3- Support between 9335-9343
4- Selling between 9356-9366

Conclusions from intra day chart analysis 

Although some consolidation and supports also between 9335-9343 but sufficiently good selling was seen today therefore Very Short Term correction is expected in the coming sessions.

Intra Day Chart Analysis & Market 
Outlook(27-04-2017)

Nifty-Intra Day Chart (26-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours trading with Mixed Patterns formations between 8339-8367
2- High volaility in last hour
3- Whole day actual trading between 8302-8367

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day but 4 Hours today trading was with Mixed Patterns formations and high volatility in last hour also therefore some more consolidation is firstly required between and near about today trading range for decisive up moves above today highest because one sided clear intraday patterns were not seen today.

27 Sessions trading was seen 9020-9274 and this range was broken out on 25-04-2017 and previous 2 sessions closing was above it. 3 Sessions closing above 9274 will be technically break out confirmation,its happening tomorrow will mean fresh big rally after 27 sessions like big range break out confirmations.

Expected that rally will remain continued but after follow up consolidation between 8302-8367 which should also be watched tomorrow.

Firstly Watch sustaining beyond 27 sessions trading range for Next big moves confirmations

Intra Day Chart Analysis & Market Outlook

(25-04-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Positive opening after Dow's Futures trading more than 130 points up.
2- Whole day up moves after French news led Dow's Futures gaining 200 points and all European markets gaining 2% to more than 4%.
3- Whole day actual trading between 9131-9225

Conclusions from intra day chart analysis

As following news since today morning therefore whole day up moves after positive opening today:-

1- French stocks head for 9-year high after Macron win eases ‘Frexit’ fears
2- Dow industrials set to rocket up 200 points higher on relief over French vote

(Just click above topic links and go through whole news)

As whole day today up moves were due to global cues of easing ‘Frexit’ fears and as such no specific intraday trading pattern formations therefore firstly sustaining above previous 27 sessions trading range(9020-9274) highest is required because multiple resistances are lying above today highest and 9274.

Only Global cues led intraday up moves within previous 27 sessions trading range(9020-9274) today and finally sustaining it beyond should be watched in the coming sessions for next big moves because that will more than 27 sessions like big sideways market break out.

Post-open Outlook(24-04-2017)

As Dow's Futures is trading more than 130 points up today morning therefore up moves after positive opening today but sufficiently good selling was seen between 9148-9165 last Friday therefore firstly sustaining it beyond should be watched for next decisive moves confirmation.

Next big moves confirmation from next last Supports

Intra Day Chart Analysis & Market Outlook

(24-04-2017)

Nifty-Intra Day Chart (21-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- More than 3 hours selling between 9148-9165
2- Last hour up moves in Bearish Rising Channel
3- Whole day actual trading between 9089-9180

Conclusions from intra day chart analysis 

As sufficiently good selling last Friday therefore correction continuation is expected towards next last supports(9025-9040) of previous 26 sessions trading range(9020-9274) and finally sustaining beyond these supports will confirm next big moves because that will more than 26 sessions like big sideways market break out.