Levels will confirm next Trend

Intra Day Chart Analysis & Market Outlook

(29-09-2017)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 9688-9758 
2- Sharp up in last hour
3- Whole day actual trading between 9688-9789

Conclusions from intra day chart analysis 

Following conclusive lines were told on 25-09-2017 in "Firstly Watch Levels for the life of on going correction":-

Expected that Nifty will trade between 9690-9920 in the coming sessions and finally sustaining it beyond will confirm the life of on going correction which should be firsly watched.

Above lines were repeated yesterday also in "Market Outlook(28-09-2017) ":-

9690 was given and today lowest was just below it at 9687.55 and Nifty jumped 100 points from there.

correction continuation with a strong Pull Back rally possibility was also told yesterday and 100 points strong Pull Back rally was seen after firstly 48 points intraday correction. 

Although sharp up in last hour but before that almost whole day sideways trading with Mixed Patterns formation therefore follow up consolidation is also required for sustaining above today highest. As some consolidation was also seen between 9688-9758 today therefore firstly sustaining it beyond should be watched for:-

1- Above 9758 will mean Pull Back rally continuation but correction completion will be considered after sustaining above next resistances (9790-9834 and 9850-9888) 
2- Below 9688 will mean correction continuation towards 9450. 

Market Outlook(28-09-2017) 

As whole day only down moves without any specific intraday position formations therefore intraday chart analysis is not being updated.

Correction is very much on and no indication of its completion yet therefore correction continuation will be expected with a strong Pull Back rally possibility because Short Term indicators have turned oversold.

Following conclusive lines were told on 25-09-2017 in "Firstly Watch Levels for the life of on going correction":-

Expected that Nifty will trade between 9690-9920 in the coming sessions and finally sustaining it beyond will confirm the life of on going correction which should be firsly watched.

Nifty traded within mentioned range with lowest formations at 9714.40 in last 2 sessions. Firstly sustaining beyond 9690 should be watched tomorrow because next supports below it at 9450.

As busy therefore Stock Market Outlook of today(27-09-2017) is not being updated.

Firstly Watch Levels for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(26-09-2017)

Nifty-Intra Day Chart (25-Sep-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- 45 Points fall in first 2 minutes
2- All the Down moves in Bullish Falling Channels
3- Last hour up moves with intraday correction
4- Whole day actual trading between 9817-9915

Conclusions from intra day chart analysis 

Firstly 45 Points fall in first 2 minutes and after that continuous down moves till 02:00 PM but all the Down moves were in Bullish Falling Channels and last hour up moves were also with intraday correction therefore a signal of consolidation process beginning. As such high weakness and Indian markets underperformed most Global markets therefore view will Bullish only after follow up consolidation and without sustaining below today lowest. As Short Term indicators have turned oversold therefore a Pull Back Rally can not be ruled out after some intraday consolidation.

Multiple supports are lying between 9690-9920 and Nifty traded within this range today with some consolidation but until complete follow up consolidation will not develop and Nifty will not sustain above 9920 till then on going correction completion will not be considered. 

Expected that Nifty will trade between 9690-9920 in the coming sessions and finally sustaining it beyond will confirm the life of on going correction which should be firsly watched.

Only a Pull Back Rally consideration amid correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(25-09-2017)

Nifty-Intra Day Chart (22-Sep-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- 60 Points fall in first minute after weak opening
2- Whole day down moves with follow up selling
3- Whole day actual trading between 9953-10060

Conclusions from intra day chart analysis 

Although global cues were not as much depressing but Indian markets showed genuine weakness and completely underperformed all Global markets last Friday as well as follow up selling was seen after sharp fall in first minute therefore until complete consolidation will not develop till then correction completion will not be considered and correction continuation expectations will remain alive towards and below 9920

As Very Short Term indicators have turned oversold therefore only a Pull Back Rally will be considered amid correction continuation expectations.