Today started correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(12-05-2017)

Nifty-Intra Day Chart (11-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling between 9446-9450
3- Selling between 9436-9445
4- Whole day actual trading between 9412-9450

Conclusions from intra day chart analysis 

Very Short Term Correction possibility was told yesterday and Nifty closed near the intraday lower levels of the day today after higher levels good selling therefore firstly today started correction continuation is expected tomorrow, 

As good intraday consolidation above 9374 yesterday and equally good selling below 9450 today therefore Nifty will firstly slip towards 9374 and prepare for next decisive moves within 8374-9450 as well as valid break out this range will decide next trend which should be watched in the coming sessions.

Rally Continuation after Very Short Term Correction completion

Intra Day Chart Analysis & Market Outlook

(11-05-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Up moves after opening
2- Consolidation between 9374-9392
3- Slow up moves in last hour
4- Whole day actual trading between 9336-9414

Conclusions from intra day chart analysis 

As IMD forecast of better Mansoon yesterday evening therefore firstly up moves after positive opening and after that consolidation also between 9374-9392 but after that slow up moves in last hour therefore rally continuation is expected after Very Short Term Correction completion and until Nifty will not sustain below 9374 after complete selling till then decisive down moves will not be seen.

8308-8338 will confirm next Big Moves

Intra Day Chart Analysis & Market Outlook

(10-05-2017)

Nifty-Intra Day Chart (09-May-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8308-8321
2- Consolidation between 8310-8320
3- Selling between 8330-8338
4- Selling between 8324-8330
5- Selling between 8323-8330
6- Whole day actual trading between 8308-8338

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Intra Day Chart Analysis & Market Outlook(09-05-2017)":-

Firstly lower levels supports but after that most time sideways trading with Mixed Patterns formations therefore on going correction continuation/completion will get confirmation from valid break out today trading range(9298-9338) which should be firstly watched in the coming sessions.

As again whole day narrow range today trading with higher levels selling and lower levels consolidation means Mixed Patterns today and:-

1- Today whole day 30 points trading within yesterday trading range
2- Today closing within yesterday trading range at 8316.85

As last 2 sessions trading within 8308-8338 with Mixed Patterns formations and its valid break out will give first strong signal of next big moves which should be watched in the coming sessions for confirmations.

Intra Day Chart Analysis & Market 

Outlook(09-05-2017)

Nifty-Intra Day Chart (08-May-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 9298-9310
2- Most time sideways trading with Mixed Patterns formations between 9307-9329
3- Whole day actual trading between 9298-9338

Conclusions from intra day chart analysis 

Firstly lower levels supports but after that most time sideways trading with Mixed Patterns formations therefore on going correction continuation/completion will get confirmation from valid break out today trading range(9298-9338) which should be firstly watched in the coming sessions.

As busy therefore Stock Market Outlook of today(08-05-2017) is not being updated.