Correction continuation towards next supports

Intra Day Chart Analysis & Market Outlook

(16-03-2018)

Nifty-Intra Day Chart (15-Mar-2018):-

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Technical Patterns formation in today intraday charts

1- Selling between 10407-10420
2- Selling between 10390-10405
3- Selling between 10378-10388
4- Whole day actual trading between 10347-10420

Conclusions from intra day chart analysis 

As whole day continuous selling therefore on going correction continuation is expected towards yesterday mentioned next supports.

Firstly watch supports and resistances for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(15-03-2018)

Nifty-Intra Day Chart (14-Mar-2018):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channels
2- Sharp up moves in last hour
3- Whole day actual trading between 10337-10420

Conclusions from intra day chart analysis 

Although corection continuation through whole day negative zone trading but intraday consolidation patterns formations also through Down moves in Bullish Falling Channels and today closing near the higher levels of the day therefore signals of some up moves towards following resistances:-

1- 10446-10478
2- 10480-10520
3- 10548-10587

Next supports of Nifty are as follows:-

1- 10314-10341
2- 10150-10205

As last 1 month US markets led violent volatility in all the Global markets therefore firstly watch above mentioned supports and resistances for the life of on going correction and firstly sustaining beyond 10314-10478 should be watched for its 1st signal. 

Watch levels amid correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(14-03-2018)

Nifty-Intra Day Chart (13-Mar-2018):-

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Technical Patterns formation in today intraday charts

1- Selling between 10446-10478
2- Sharp fall
3- Lower levels supports
4- Whole day actual trading between 10378-10478

Conclusions from intra day chart analysis 

Resistance between 10480-10520 was updated yesterday in "Next resistancs will confirm correction completion" and Nifty retraced from just below it at 10478.60 today and more than 3 hours selling was also seen just below it between 10446-10478 therefore yesterday mentioned resistances have become stronger today.

3 Hours consolidation between 10314-10341 yesterday and more than 3 hours selling between 10446-10478 today therefore firstly sustaining beyond 10314-10478 should be watched for sharp correction continuation below 10314 and first signal of correction completion above 10478 but correction completion which will be considered only after sustaining above 10587.

As follow up selling today was just below yesterday mentioned resistances therefore finally correction continuation is expected below 10314.

Next resistancs will confirm correction completion 

Intra Day Chart Analysis & Market Outlook

(13-03-2018)

Nifty-Intra Day Chart (12-Mar-2018):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 10314-10341
2- Strong up moves in last hours
3- Whole day actual trading between 10302-10433

Conclusions from intra day chart analysis 

As all the Asian markets were blasting today morning therefore gap up strong opening and 3 hours consolidation between 10314-10341 therefore this range will be immediate support of Nifty.  

Next resistances between 10379-10441 was updated yesterday in "Watch Levels amid correction continuation expectations" and Nifty closed within this range today. As today sharp rally was on the back of strong global cues therefore more confirmation is required for on going correction completion which will be after sustaining above following next resistance otherwise today up moves will be understood global markets reaction only but decisive down moves will be seen only after sustaining below 10314:-

1- Resistance between 10480-10520
2- Resistance between 10548-10587

Watch Levels amid correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(12-03-2018)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10256-10288
2- Sharp fall in last hour
3- Whole day actual trading between 10212-10296

Conclusions from intra day chart analysis 

As more than 4 hours selling therefore finally correction continuation is expected in next week.

SGX Nifty closed 136.50 points up after strong rally in US markets last Friday therefore strong opening can not be ruled out in Indian markets if as such US markets like strength remains in Asian markets also on Monday morning. As next resistances are lying between 10379-10441 also therefore expected that Nifty will not sustain above 10379.

Although expected that finally correction will remain continued below last Friday lowest but for precaution sustaining beyond 10441 should also be watched if Global markets remains extremely strong otherwise follow up selling in the beginning of next week will mean correction continuation towards and below 10000.