Next decisive moves strong signal from today trading range break out

Intra Day Chart Analysis & Market Outlook

(02-06-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 9616-9634
2- Consolidation between 9590-9606
3- Last 2 hours Mixed Patterns formations between 9606-9622
4- Whole day actual trading between 9590-9634

Conclusions from intra day chart analysis 

Whole day sideways trading with higher levels selling and lower levels buying as well as last 2 hours Mixed Patterns formations therefore again today trading will be understood with mixed patterns formations and same following view which was updated in yesterday Outlook:-

As sustaining beyond 9548-9649 will be break out of 4 sessions trading range and one sided decisive 2% moves will be seen as well as valid break out of today trading range(9590-9634) will be strong signal of last 4 sessions trading range break out  therefore should be firstly watched in the coming sessions 

Firstly Watch Levels for one sided decisive moves

Intra Day Chart Analysis & Market Outlook

(01-06-2017)

Nifty-Intra Day Chart (31-May-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- Volatility in last 2 hours
4- Whole day actual trading between 9610-9649

Conclusions from intra day chart analysis 

Following lines were told on 29-05-2017 in "Firstly Watch Levels for Rally Continuation or Short Term Correction beginning":-

valid break out of today trading range should be firstly watched in the coming sessions for on going rally continuation above 9637 or Short Term Correction beginning below 9548.

Nifty closed within mentioned range(9548-9637) in last 2 sessions with Mixed patterns formations and volatility was seen in last 2 hours also today therefore same view that valid break out of last 3 sessions trading range should be firstly watched in the coming sessions for on going rally continuation above 9649 or Short Term Correction beginning below 9548.

As sustaining beyond 9548-9649 will be break out of 3 sessions trading range and one sided decisive 2% moves will be seen therefore should be firstly watched in the coming sessions. 

As busy therefore Stock Market Outlook of today(31-05-2017) is not being updated.

Firstly Watch Levels for Rally Continuation or Short Term Correction beginning

Intra Day Chart Analysis & Market Outlook

(30-05-2017)

Nifty-Intra Day Chart (29-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sharp up after weak opening
2- Down moves in Bullish Falling Channel
3- Up moves with intraday corrections
4- Selling between 9593-9615
5- Selling between 9616-9637
6- Whole day actual trading between 9548-9637

Conclusions from intra day chart analysis 

Although weaker opening but Sharp up moves immediately after weak opening and next 3 hours consolidation also through:-

1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections 

As selling was also seen at higher levels in last 3 hours therefore today trading will be understood with Mixed patterns formations and valid break out of today trading range should be firstly watched in the coming sessions for on going rally continuation above 9637 or Short Term Correction beginning below 9548.

Finally Rally Continuation after Very Short Term Correction 

Intra Day Chart Analysis & Market Outlook

(29-05-2017)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day up moves with intraday corrections
2- Minor selling patterns at higher levels
3- Whole day actual trading between 9495-9604

Conclusions from intra day chart analysis 

Although Nifty closed negative below all the immediate supports on 24-05-2017 but we told following lines on 24-05-2017 in "Pull Back Rally possibility":-

1- view will not be Bearish despite today closing near the lower levels of the day. 
2- Pull Back Rally may be seen any day in this week

As was told 100% same happened and strong rally was seen in next 2 sessions after 24-05-2017. 

As last 2 sessions rally with intraday corrections therefore finally rally continuation is expected but Very Short Term Correction can not be ruled out because minor selling patterns formations at higher levels last Friday and Very Short Term indicators have also turned Overbought after last 2 sessions strong rally.  

It should be kept in mind that until complete selling patterns will not develop till then decisive down moves will not be seen and follow up consolidation in the beginning of next week will mean Rally continuation towards 10,000.