Rally continuation expectations after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(12-01-2018)

Nifty-Intra Day Chart (11-Jan-2018):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 10613-10624
2- Up moves with follow up consolidation
3- Mixed Patterns formation between 10648-10664
4- Whole day actual trading between 10613-10664

Conclusions from intra day chart analysis 

Although Short Term correction was expected but as soon as consolidation developed then we cautioned at 10:45 AM in "Mid-session Outlook(11-01-2018)" and after that whole day up moves were seen after follow up consolidation. 

As Mixed Patterns formations at higher levels after lower levels good consolidation therefore firstly follow up consolidation is required within or near about today trading range and then finally rally continuation will be expected. Short Term indicators have turned overbought therefore view will be cautious but until complete selling will not develop and Nifty will not sustain below today lowest till then decisive down moves will not be seen. 

Mid-session Outlook(11-01-2018)

Although most time negative zone trading since opening today but some consolidation was also seen at lower levels of the day therefore firstly valid break down of today lowest(10613.35) should be watched today for first strong signal of Short term correction beginning.

Short Term correction expectations after follow up selling

Intra Day Chart Analysis & Market Outlook

(11-01-2018)

Nifty-Intra Day Chart (10-Jan-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 10631-10642
2- Support between 10593-10612
3- Up moves in Bearish Rising Channel in last hour
4- Whole day actual trading between 10593-10642

Conclusions from intra day chart analysis 

Although Nifty closed positive near the highest levels of the day with new life time highest formations yesterday but we told following lines yesterday in "Levels will confirm Short Term correction":-

1- Last 2 sessions trading was between 10597-10647 with both buying and selling patterns formations 
2- only selling patterns were seen today
3- firstly valid break down of this range should be watched in the next 1/2 sessions for Short Term correction beginning. 

Nifty slipped bellow 10597 today but got supports just below it at 10592.70 and recocovered. As selling was seen between 10631-10642 immediately after opening and selling patterns formations through Up moves in Bearish Rising Channel in last hour also therefore Short Term correction beginning possibility is still alive and firstly sustaining below 10593 should be watched in the coming sessions for its confirmations. 

As Short Term indicators have turned overbought and selling is being seen in last 3 sessions also therefore Short Term correction is expected in the coming sessions but follow up selling is must between 10593-10647.

Levels will confirm Short Term correction

Intra Day Chart Analysis & Market Outlook

(10-01-2018)

Nifty-Intra Day Chart (09-Jan-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channels
2- Whole day actual trading between 10604-10647

Conclusions from intra day chart analysis 

As mixed patterns formations therefore following lines were told yesterday in "Rally continuation expectations after follow up consolidation":-

1- Mixed Patterns formation therefore some consolidation is firstly required for decisive up moves
2- Although minor selling patterns formations but view will not be Bearish
3- until complete selling patterns will not develop till then any type of correction will not be seen
4- Rally continuation expectations are very much alive but after follow up consolidation.

Rally remained continued through Green closing today but follow up consolidation was not seen and selling patterns developed also through Up moves in Bearish Rising Channels therefore follow up selling tomorrow will mean Short Term correction beginning.

Last 2 sessions trading was between 10597-10647 with both buying and selling patterns formations but only selling patterns were seen today therefore firstly valid break down of this range should be watched in the next 1/2 sessions for Short Term correction beginning. 

Rally continuation expectations after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(09-01-2018)

Nifty-Intra Day Chart (08-Jan-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 10597-10623
2- Whole day actual trading between 10597-10631

Conclusions from intra day chart analysis 

Bullish rally is on and whole day strong trading today after gap up opening but with Mixed Patterns formation therefore some consolidation is firstly required for decisive up moves. Although minor selling patterns formations but view will not be Bearish because consolidation patterns were also seen and until complete selling patterns will not develop till then any type of correction will not be seen.

Rally continuation expectations are very much alive but after follow up consolidation.

As out of station therefore Stock Market Outlook of today(08-01-2018) is not being updated.