Watch Levels for next big moves

Intra Day Chart Analysis & Market Outlook

(24-11-2017)

Nifty-Intra Day Chart (23-Nov-2017):-

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Technical Patterns formation in today intraday charts

1- Up moves with intraday correction
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 10308-10374

Conclusions from intra day chart analysis 

As whole day volatile market with both consolidation and selling patterns formations therefore no final view can be formed only from today intraday patterns formations. Most time selling patterns formations yesterday and most time consolidation patterns formation today means that no one sided technical positions formations in last 2 sessions.

Following conclusive lines were told on 19-11-2017 in "Next trend confirmations from levels":-

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations. 

Above lines and levels were repeated in all the previous Outlooks of this week and Nifty traded within 10232-10377 which means that Nifty is preparing for next big moves and finally sustaining beyond this range should be watched in the coming sessions.

Mid-session Outlook(23-11-2017)

As whole day selling patterns formations therefore firstly down moves expectations was told and it was seen also through negative zone trading in first 15 minutes but follow up selling is not being seen and some consolidation patterns formations also developed today therefore finally sustaining beyond 10262-10377 should be watched for next trend confirmations because strong supports and equally strong resistances are lying within this range.

Down Moves expectations

Intra Day Chart Analysis & Market Outlook

(23-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Sharp down after positive opening
1- Up moves in Bearish Rising Channel
3- Whole day actual trading between 10310-10368

Conclusions from intra day chart analysis 

Although Green closing after most time positive zone trading but whole day selling patterns formations therefore firstly down moves are expected and finally sustaining below 10262 will mean deeper correcttion. 

Levels will confirm next trend and life of on going correction

Intra Day Chart Analysis & Market Outlook

(22-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10344-10358
2- Whole day actual trading between 10316-10358

Conclusions from intra day chart analysis 

As all the Asian markets were trading with good gains therefore firstly strong opening and green closing after whole day positive zone trading but higher levels good selling therefore fast down in last hour and closing near the lower levels of the dayT 10326.90.

Following lines were told yesterday in "Levels will confirm life of on going correction":-

As strong supports and equally strong resistances are lying between 10262-10377 therefore firstly Nifty has to trade and prepare for next trend within this range in the coming sessions and finally sustaining beyond this range will confirm next trend as well as life of on going correction. 

Same above mentioned view for tomorrow because today whole day trading and closing was within mentioned trading range(10262-10377) and lower levels supports  are still lying after higher levels today selling.

Levels will confirm life of on going correction

Intra Day Chart Analysis & Market Outlook

(21-11-2017)

Nifty-Intra Day Chart (20-Nov-2017):-

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Technical Patterns formation in today intraday charts

1- 5 Hours consolidation between 10264-10290
2- Whole day actual trading between 10262-10309

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Next trend confirmations from levels":-

1- Selling between 10310-10343
2- Previous resistances were between 10346-10377 
3- Nifty will firstly prepare for next trend between 10232-10377 in the coming week 

Selling was told above 10310 and Nifty could not move above it as well as whole day traded below it with today highest formations just below it at 10309.85. 

Although next strong resistances are between 10310-10343 but 5 hours consolidation between 10264-10290 therefore this range will be immediate strong support and until complete fresh selling will not develop till then Nifty will not easily sustain below 10264 

As strong supports and equally strong resistances are lying between 10262-10377 therefore firstly Nifty has to trade and prepare for next trend within this range in the coming sessions and finally sustaining beyond this range will confirm next trend as well as life of on going correction. 

Next trend confirmations from levels

Intra Day Chart Analysis & Market Outlook

(20-11-2017)

Nifty-Intra Day Chart (17-Nov-2017):-

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Technical Patterns formation in today intraday charts

1- Selling between 10310-10343
2- Down moves in last hours
3- Whole day actual trading between 10269-10343

Conclusions from intra day chart analysis 

India's highest credit rating in decades and most Asian markets were trading with good gains therefore strong gap up opening last Friday but firstly more than 4 hours selling resultant slipping in last hours and closing near the lower levels of the day. 

Previous resistances were between 10346-10377 and good selling was seen just below it between 10310-10343 last Friday therefore until Nifty will not sustain above 10377 after complete fresh consolidation till then decisive up moves will not be seen and on going correction will not be considered. 

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations.