Signals of correction completion

Intra Day Chart Analysis & Market Outlook

(08-12-2017)

Nifty-Intra Day Chart (07-Dec-2017):-

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Technical Patterns formation in today intraday charts

1- Whole day up moves with intraday corrections
2- Whole day actual trading between 10062-10182

Conclusions from intra day chart analysis

Following lines were told on 03-12-2017 in "Firstly watch next big psychological level for the life of on going correction":-

Correction is on and its continuation is expected towards 10014 but slipping below 10000 also can not be ruled out if consolidation also develops near about it as well as sustaining beyond next big psychological level(10000) should be firstly watched in next week for the life of on going correction.

Correction continuation towards 10014 was told and Nifty bounced back on 07-12-2017 after correction lowest formations at 10033.35 on 06-12-2017 as well as whole day up moves with intraday corrections after positive opening therefore signals of correction completion.

As Very Short Term indicators have turned overbought after strong intraday rally on 07-12-2017 therefore next 1/2 sessions may remain sideways for cooling down of sentiment and follow up consolidation as well as once sustaining above today highest will mean rally continuation above life time highest after Intermediate Term correction completion.

Next levels will confirm next trend 

Intra Day Chart Analysis & Market Outlook

(07-12-2017)

Nifty-Intra Day Chart (06-Dec-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 100084-10104
2- Selling between 100052-10072
3- Whole day actual trading between 100034-10104

Conclusions from intra day chart analysis 

As crashing like situation in most Asian markets therefore weaker opening was seen in Indian markets and intraday selling also developed resultant closing near the lower levels of the day.

Only selling and no consolidation therefore following same view qhich was updated on 03-12-2017 in "Firstly watch next big psychological level for the life of on going correction":-

Correction is on and its continuation is expected towards 10014 but slipping below 10000 also can not be ruled out if consolidation also develops near about it as well as sustaining beyond next big psychological level(10000) should be firstly watched in next week for the life of on going correction.

Pre-open Outlook(06-12-2017)

Although good intraday consolidation yesterday but crashing like situation in most Asian markets therefore weaker opening will be seen in Indian markets. As more than 3 hours consolidation between 10070-10095 yesterday therefore this range will be immediate support of Nifty and firstly valid break out yesterday lowest should be watched today for the life of on going correction.

Firstly watch level for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(06-12-2017)

Nifty-Intra Day Chart (05-Dec-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Consolidation between 10070-10095
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 10070-10147

Conclusions from intra day chart analysis 

As firstly lower levels consolidation and last hour down moves in Bullish Falling Channel after Mid sessions up moves therefore today trading will be understood with consolidation patterns formations and emergence of a Pull Back rally possibility as well as firstly valid break out today lowest should be watched in the coming sessions for the life of on going correction.

Correction Continuation

Intra Day Chart Analysis & Market Outlook

(05-12-2017)

Nifty-Intra Day Chart (04-Dec-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 10143-10163
2- Selling between 10123-10141
3- Whole day actual trading between 10096-10163

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly watch next big psychological level for the life of on going correction":-

1- Bullish Falling Wedge formations in last Hour is indicating some up moves in the beginning of next week 
2- but will not be able to sustain above day's highest(10269) because good selling between 10205-10269 last Friday.

As was told 100% same happened and Nifty traded most of the time in positive zone and closed also in Green as well as could not move even above 10205.

As sufficiently good selling today therefore expected that Nifty will slip below today lowest(10095.70) and Correction continuation will remain continued towards 10014. 

Firstly watch next big psychological level for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(04-12-2017)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 10236-10269
2- Selling between 10205-10232
3- Bullish Falling Wedge formations in last Hour
4- Whole day actual trading between 10109-10269

Conclusions from intra day chart analysis 

As correction is on therefore firstly selling after Green opening and follow up selling also during Mid Session resultant whole day slipping and closing near the lower levels of the day. Bullish Falling Wedge formations in last Hour is indicating some up moves in the beginning of next week but will not be able to sustain above day's highest(10269) because good selling between 10205-10269 last Friday.

Correction is on and its continuation is expected towards 10014 but slipping below 10000 also can not be ruled out if consolidation also develops near about it as well as sustaining beyond next big psychological level(10000) should be firstly watched in next week for the life of on going correction.