Traders should remain cautious amid US markets led violent volatility

Pre-open Outlook(06-04-2018)

Dow Jones closed 240 points up yesterday and only after 7 hours Dow's Fututes is trading 284 points down while once it was trading 450 points down also 3 hours before.

Dow's Fututes was traing 450 points down when Indian markets closed on 04-04-2018 but Dow Jones closed more than 200 points up same day.

As per my view it is only manipulation by international operators because all the Global markets takes cues from US markets and react on its price movements otherwise economic situation never change as fast as being shown by US markets.

Certainly this US markets led violent volatility like situation is beyond the imagination and control of general traders therefore traders should remain cautious and overnight positions should be avoided if there is no confirmation.

US markets led rally continuation toward next resistances  

Intra Day Chart Analysis & Market Outlook

(06-04-2018)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Consolidation between 10228-10260
2- Consolidation between 10258-10285
3- Sharp up after RBI Credit policy announcements
4- Whole day actual trading between 10228-10331

Conclusions from intra day chart analysis 

As higher levels good selling between 10242-10279 yesterday therefore correction continuation was expected after follow up selling but blasting US markets led Bullish moves were seen in all the Global markets resultant strong rally developed in Indian markets also.

Although good selling was seen between 10242-10279 yesterday but more than 5 hours consolidation within and near about this range between 10228-10285 today therefore sharp up moves after RBI Credit policy announcements.

Last 11 sessions trading was between 9952-10279 and this range was forcefully broken out today therefore US markets led rally continuation is expected toward following next resistances:-

1- 10378-10420
2- 10446-10478

Technical analysis has been updated above but US markets led violent volatility in all the Global markets therefore its impact on Indian markets moves should also be watched. 

Finally today started correction continuation towards next supports

Intra Day Chart Analysis & Market Outlook

(05-04-2018)

Nifty-Intra Day Chart (04-Apr-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- More than 3 hours selling between 10242-10279
2- Sharp down
3- Last 2 hours sideways trading between 10112-10154
4- Whole day actual trading between 10112-10279

Conclusions from intra day chart analysis 

Following lines were told yesterday in "10227 will confirm life of on going Pull Back Rally":-

1- Short Term indications are over bought therefore Short Term correction has become very much due
2- firstly 3/4 hours trading patterns and its resultant finally sustaining beyond 10227 should be watched tomorrow for the life of on going Pull Back Rally

As firstly more than 3 hours selling between 10242-10279 therefore sharp down in Mid-session and closing 98 points below 10227 today.

Immediate supports were between 10105-10150 and today closing was within this range after last 2 hours sideways trading between 10112-10154 therefore Nifty will firstly trade within and near about this range and finally sustaining beyond 10105-10279 will confirm next decisive moves

Last 11 sessions trading between 9952-10279 and expected that finally today started correction will remain continued towards next supports(9952-10019) after follow up selling in the next 1/2 sessions.

10227 will confirm life of on going Pull Back Rally

Intra Day Chart Analysis & Market Outlook

(04-04-2018)

Nifty-Intra Day Chart (03-Apr-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Mixed Patterns formation till 03:00 PM between 10172-10229
2- Up moves after 03:00 PM
3- Whole day actual trading between 10172-10255

Conclusions from intra day chart analysis

Last 9 sessions trading was between 9952-10227 and today closing was above it but before that almost whole day trading was with Mixed Patterns formation therefore follow up consolidation and sustaining above 10227 is must for the confirmation of 9 sessions trading range valid break out.

Although last half hour up moves but Short Term indications are over bought therefore Short Term correction has become very much due. As complete selling patterns formation have not been seen yet therefore firstly 3/4 hours trading patterns and its resultant finally sustaining beyond 10227 should be watched tomorrow for the life of on going Pull Back Rally

Watch levels amid correction possibility

Intra Day Chart Analysis & Market Outlook

(03-04-2018)

Nifty-Intra Day Chart (02-Apr-2018):-

                                                 Just click on chart for its enlarged view
Technical Patterns formation in today intraday charts

1- Consolidation between 10128-10154
2- Intraday corrections
3- Last hour Up moves in Bearish Rising Channel
4- Whole day actual trading between 10128-10220

Conclusions from intra day chart analysis 

As good consolidation in first hour and whole day up moves with intraday correction therefore closing at higher levels of the day. Last hour Up moves were in Bearish Rising Channel and Short Term indications have turned over bought as well as today closing in resistance range(10177-10227) therefore emergence of last 5 sessions Pull Back rally(9952-10220) correction possibility.

Following conclusive lines were updated yesterday in "Firstly Watch levels for next big moves confirmations" and being repeated for final conclusions:-

Last 8 sessions trading between 9952-10227 with lower levels following supports and higher levels following resistances therefore firstly Nifty has to trade and prepare for next big moves within and near about this range as well as finally sustaining beyond this range will confirm next big moves which should also be watched in next week.

1- Supports between 9952-10019 
2- Resistances between 10177-10227 

Firstly Watch levels for next big moves confirmations

Intra Day Chart Analysis & Market Outlook

(02-04-2018)

Nifty-Intra Day Chart (28-Mar-2018):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Derivative expiry led high volatility in last hours
3- Whole day actual trading between 10097-10158

Conclusions from intra day chart analysis 

As all the Global markets were weak last Friday therefore whole day negaive zone trading after gap down opening but some consolidation was also seen therefore indications of some up moves in the beginning of next week. 

Derivative expiry led high volatility in last hours and technical positions reverses during such high volatility therefore firstly sustaining beyond last Friday trading range(10097-10158) should be watched for the beginning of next decisive moves.

Last 8 sessions trading between 9952-10227 with lower levels following supports and higher levels following resistances therefore firstly Nifty has to trade and prepare for next big moves within and near about this range as well as finally sustaining beyond this range will confirm next big moves which shou;d also be watched in next week.

1- Supports between 9952-10019 
2- Resistances between 10177-10227