As busy therefore Stock Market Outlook of today(26-05-2017) is not being updated.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Pull Back Rally possibility
Intra Day Chart Analysis & Market Outlook
(25-05-2017)
Nifty-Intra Day Chart (24-May-2017):-
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| Just click on chart for its enlarged view |
1- Whole day Down moves in Bullish Falling Channels
2- Whole day actual trading between 9342-9432
Conclusions from intra day chart analysis
As Pakistan air Force activity on Siachen border today morning and Pakistan jets flied also near Siachen border therefore whole day slipping from higher levels after positive opening. All the Down moves were in Bullish Falling Channels therefore view will not be Bearish despite today closing near the lower levels of the day.
Although today closing was below all the immediate supports but were due to above mentioned negative news led and consolidation patterns were also seen today therefore a Pull Back Rally may be seen any day in this week. Certainly Short Term Correction is on and no confirmation of its completion yet but sustaining beyond today lowest(9360.55) should be watched in the coming sessions after last 2 sessions negative news led trading.
9400 will confirm fresh Rally
Intra Day Chart Analysis & Market Outlook
(24-05-2017)
Nifty-Intra Day Chart (23-May-2017):-
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| Just click on chart for its enlarged view |
1- Slipping after positive opening
2- Consolidation patterns formation between 9370-9400
3- Volatility in last 3 hours
4- Whole day actual trading between 9370-9448
Conclusions from intra day chart analysis
As news of Indian Army attacks on Pakistani bunkers along LoC in Kashmir's Nowshera sector was in the pipe line therefore following reaction on Indian financial markets today morning:-
1- Indian Rupee weakened against USD($) by 28 Paise within first 32 minutes.
2- Nifty weakened by 64 points within first 40 minutes.
Although today closing was near the lower levels of the day but consolidation patterns formation between 9370-9400 there view will not be Bearish and until Nifty will not sustain below 9370 till then decisive down moves will not be seen.
Last supports between 9373-9387 was updated yesterday in "Up moves expectations towards next resistances" and Nifty closed within this range at 9386.15 today as well as fresh consolidation was seen within this range today therefore expectations of fresh rally above 9400 are alive but sustaining it above should also be firstly watched for its continuation confirmations because today market and last hours volatility was above mentioned new led and technical positions reverses in such news led volatility also.
Up moves expectations towards next resistances
Intra Day Chart Analysis & Market Outlook
(23-05-2017)
Nifty-Intra Day Chart (22-May-2017):-
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| Just click on chart for its enlarged view |
1- Whole day Down moves in Bullish Falling Channels
2- Whole day actual trading between 9428-9498
Conclusions from intra day chart analysis
Following lines were told on 20-05-2017 in "Firstly Watch Most Crucial Level in Next Week":-
1- firstly up moves are expected in next week
2- but within last Friday trading range(9391-9505).
As was told 100% same happened and:-
1- Nifty moved up 70 points in first minute today.
2- Nifty traded whole day within last Friday trading range(9391-9505) between 9427.90-9498.65 today.
Immediate supports of Nifty are as follows:-
1- 9427-9440
2- 9391-9425
3- 9373-9387
Next resistances of Nifty are as follows:-
1- 9479-9505
2- 9518-9532
Last 9 sessions most time trading within 9373-9532 with above mentioned supports and resistance but up moves are firstly expected tomorrow towards next resistances because Whole day consolidation today through Down moves in Bullish Falling Channels and follow up consolidation is also firstly required in the coming sessions to cross resistances.
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