Correction continuation below today lowest

Intra Day Chart Analysis & Market Outlook

(09-02-2018)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling between 10589-10637
3- Whole day actual trading between 10481-10637

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly watch  next resistances for the life of expected Pull Back rally":-

1- Pull Back rally is expected tomorrow
2- next resistances(gap) are betweeen 10703-10736

Pull Back rally was seen and Nifty closed 100 points up today but Up moves were in Bearish Rising Channel and selling also developed at higher levels therefore correction continuation is expected below today lowest after fresh selling today which was below yesterday mentioned resistances.

Firstly watch  next resistances for the life of expected Pull Back rally   

Intra Day Chart Analysis & Market Outlook

(08-02-2018)

Nifty-Intra Day Chart (07-Feb-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channels
2- Whole day actual trading between 10447-10590

Conclusions from intra day chart analysis 

Although Nifty closed near the higher levels of the day but we told following conclusive line yesterday in "Watch psychological level amid correction continuation expectations":-

Correction is on and its continuation is expected. 

Correction was seen today through negative closing at the lower levels of the day after slipping more than 150 points from intraday higher levels but consolidation was also developed though Down moves in Bullish Falling Channels therefore Pull Back rally is expected tomorrow. 

As next resistances(gap) are betweeen 10703-10736 therefore firstly sustaining it beyond should be watched for the life of expected Pull Back rally.   

Watch psychological level amid correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(07-02-2018)

Nifty-Intra Day Chart (06-Feb-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Support between 10277-10372
2- Up moves with more than 1000 recovery of Dow's Futures 
3- Whole day actual trading between 10277-10504

Conclusions from intra day chart analysis 

Following lines were told on 28-01-2018 in "11413.85 will confirm Rally continuation or 5 Waves Correction after Budget":-

1- firstly sustaining beyond 11413.85 should be watched in the coming weeks after Budget because 11413.85 is most crucial. 
2- As per Elliott Wave theory if Nifty sustains above it then Waves structure from 27-10-2008 will be recounted  
3- sustaining below it will mean 5 waves correction of whole rally from 2252.75 to any highest below 11413.85.

As correction begun from 11171.55 which is below 11413.85 therefore emergence of 5 waves correction possibility of whole rally between 2252.75-11171.55 according to following retracement levels:-

1- 13.0%- 10,011
2- 23.6%- 9,066
3- 27.0%- 8,762
4- 38.2%- 7,763(Crucial)
5- 50.0%- 6,711(Crucial)
6- 61.8%- 5,659(Crucial)

Next supports below today lowest are as follows:-

1- 10277-10372
2- 10140-10195
3- 10040-10175 

Correction is on and its continuation is expected. As 13.0% retracement level(10,011) and 3rd supports range(10040-10175) are just above psychological of 10000 therefore firstly sustaining beyond 10000 should be watched in the coming weeks for the life of on going correction.

जेटली जी इधर आपने बजट पेश किया उधर पूरी दुनिया भर के बाजार क्रैश। 

आखिर आपने ऐसा क्या कर दिया बजट में?

Finally correction continuation after some volatility 

Intra Day Chart Analysis & Market Outlook

(06-02-2018)

Nifty-Intra Day Chart (05-Feb-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel
3- Some consolidation after minor doem moves
4- Whole day actual trading between 10587-10702

Conclusions from intra day chart analysis 

As whole day trading with both Bullish and Bearish patterns formations therefore today trading will be understood with Mixed Patterns formations. 

If no big Global markets fall tomorrow morning then a pull back rally may be seen and some volatility is also can not be ruled out.

Correction is very much on and until complete consildation will not develop till then its continuation will be seen and finally it is expected also below today lowest(10586.80) after 1/2 sessions volatility. 

As busy therefore Stock Market Outlook of today(04-02-2018) is not being updated.