Firstly watch 15100 for the life of on going rally after fresh selling and honoring next resistances today

Mid-session Outlook(12-03-2021)

Following conclusive lines were told yesterday in "Rally continuation towards next resistances":-

rally continuation will be seen towards following next resistances:-

 

1- 15274-15315

2- 15335-15431  

Second resistance was given from 15335 and today highest was formed at 15336.3 amid rally continuation after gap up opening today.

As Nifty has honored this resistance range(15335-15431) today and slipped 140 points from this level till this moment today after fresh good selling therefore firstly sustaining beyond 15100 will be watched in the coming sessions for the life of on going rally because consolidation was seen above it on 10-03-2021.

Rally continuation towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(12-03-2021)

Nifty-Intra Day Chart (10-Mar-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15176-15193

2- Down moves in Bullish Falling Channels

3- Up moves with downward correction 

4- Whole day actual trading between 15100-15218

Conclusions from intra day chart analysis 

As firstly some selling after positive opening but after that consolidation was seen through down moves in Bullish Falling Channels hence Up moves begun in Mid-Session.

Follow up consolidation was seen in last hours also through up moves with downward correction and down moves in Bullish Falling Channel therefore rally continuation will be seen towards following next resistances:-

 

1- 15274-15315

2- 15335-15431  

 Sustaining above 15126 will confirm 

rally towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(10-03-2021)

Nifty-Intra Day Chart (09-Mar-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15064-15126

2- Consolidation between 14926-15025

3- Sharp up moves in last hour

4- Whole day actual trading between 14926-15126

Conclusions from intra day chart analysis 

As Dow Jones Futures was trading 180 points up and all the Asian markets were trading with good gains today morning therefore strong opening of Indian markets but higher levels selling developed and down moves were seen in Mid-session.

As last 2 sessions good selling above 14991 therefore slipped below it and consolidation was seen below and above it between 14926-15025 hence sharp up moves in last hour. 

Last 3 sessions trading between 14863-15126 with higher levels selling and lower levels consolidation today therefore sustaining above today highest(15126) will confirm rally towards following next resistances:-

1- 15145-15196

2- 15213-15245 

3- 15274-15315

4- 15335-15431  

 Sharp fall expectations despite most Bullish US & European markets

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-03-2021)

Nifty-Intra Day Chart (08-Mar-2021):-

Technical Patterns formation in today intraday charts

1- Up moves after strong opening

2- Selling between 15070-15111

3- Sharp fall

4- Selling between 14991-15042

5- Whole day actual trading between 14920-15111

Conclusions from intra day chart analysis 

Although firstly up moves after strong opening but selling developed therefore sharp fall was seen. Follow up selling was seen in Mid-sessions therefore closing was near the lower levels of the day.

4 Hours selling was seen between 15007-15092 on 05-03-2021 and follow up selling was seen just below and above it today also therefore last 2 sessions good selling will be understood between 14991-15111 and once sustaining below 14991 will mean sharp big fall.

Although Dow Jones is now trading 490 points up and all the European markets are also 1.30% to 3.25% up as well as SGX Nifty has also trading 142 points positive but view will not be Bullish and until Nifty will not sustain above 15111 after complete consolidation till then decisive up moves will not be seen.

Fresh selling tomorrow and once sustaining below 14991 will mean sharp fall and it is expected also in the coming sessions.