Technical Analysis and Market Outlook(13-12-2013)

Nifty-Intra Day Chart (12-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours trading between 6254-6270 with consolidation indications.
2- Sharp down in last half hour.
3- Whole day actual trading between 6232-6270

Conclusions from intra day chart analysis 

Although Sharp down in last half hour and closing near the lows of the day despite consolidation indications from intraday charts between 6254-6270. As today down moves were without as such selling therefore sustaining below 6254 should be firstly watched tomorrow for next trend confirmations because Indian and all Global markets were down today on the back of QE-3 tapering fear in FOMC meet in next week.

Pre-closing Outlook(12-12-2013)

Although consolidation indications and emergence of up moves expectations but sharp fall also seen therefore correction continuation and until complete consolidation will not seen till then up moves will not seen because all the Global markets are in Red and fear of tapering in FOMC meet in next week.

Mid-session Outlook(12-12-2013)

Although most time negative zone trading between 6254-6270 but intraday charts are showing consolidation indications and emergence of up moves expectations.

Post-open Outlook(12-12-2013)

As all Asian markets turned negative after Red closing of US markets therefore weak Indian markets and trading below 6280 despite good consolidation above it yesterday. Today down moves are depressed sentiment affected and sustaining below 6280 should be firstly watched for next down moves confirmations.

Technical Analysis and Market Outlook(12-12-2013)

Nifty-Intra Day Chart (11-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel.
2- Consolidation between 6280-6298
3- Whole day actual trading between 6280-6326

Conclusions from intra day chart analysis 

As down moves in Bullish Falling Channel and good consolidation at lower levels therefore until Nifty will not sustain below the lowest of today till next down moves will not be considered. All trends are up but very short term correction continuation after all time high formation on 09-12-2013. As lower levels good consolidations today therefore once sustaining above today lowest(6280) will mean rally continuation after very short term correction completion. 

As US markets are trading in deep Red at this moment therefore sentiment may be weak tomorrow morning and firstly sustaining beyond today lowest(6280) should be watched tomorrow for next trend confirmation but expected that rally will be seen after sustaining above 6280.

Mid-session Outlook(11-12-2013)

All trends are up but very short term correction continuation after all time high formation on 09-12-2013. As lower levels good consolidations today therefore firstly sustaining beyond today lowest(6283) should be watched for next trend confirmation.

Technical Analysis and Market Outlook(11-12-2013)

Nifty-Intra Day Chart (10-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6338-6354 
2- Lower levels supports.
2- Up moves in Bearish Rising Channel.
3- Whole day actual trading between 6308-6362

Conclusions from intra day chart analysis 

All trends are up but sentiment is heated due to all time high formations yesterday and resultant profit booking seen today. As lower levels supports also seen at lower levels therefore mixed positions formation today and sustaining beyond today trading range(6308-6362) should be firstly watched tomorrow for next immediate move confirmations.

As busy in a marriage therefore Outlooks will not be updated today.

Pre-closing Outlook(09-12-2013)

6 Hours quiet range bound market after positive news led huge Gap up opening. As today intraday charts are showing consolidation indications therefore rally continuation is expected in the coming sessions.

Mid-session Outlook(09-12-2013)

Hugh gap up opening after BJP victory in Assembly elections yesterday and new all time high formation today. Although slipping from higher levels but it is only intraday correction and Wave-3 rally continuation is expected.

Technical Analysis and Market Outlook(09-12-2013)

Nifty-EOD Chart (06-Dec-2013):-

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 Technical Patterns and Formations in EOD charts

1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-3(6342.95 on 03-11-2013 and 'ABC' correction beginning)
5- Wave-A(5972.45 on 13-11-2013)
6- Wave-B(6212.40 on 19-11-2013)
7- Wave-C(5972.80 on 22-11-2013)
8- Descending Triangle formations in last 23 sessions with top formation at 6342.95 and bottom formation at 5972.45.  

Conclusions from EOD chart analysis

Wave-3 continuation after 'ABC' correction completion but Descending Triangle formations in last 23 sessions with top formation at 6342.95 and bottom formation at 5972.45. As last 23 sessions trading were under the shadow of 5 states Assembly polls with both lower levels consolidations and higher levels selling therefore sustaining beyond 5972.45-6342.95 will be next trend confirmations and should be firstly watched in next sessions after BJP big victory in Election results today.

Mid-session Outlook-2 (06-12-2013)

Quiet sideways market with higher levels selling and lower levels supports also between 6231-6243 and no clear indication from today intraday charts. Next trend confirmation will be after sustaining beyond 6155-6301.

Mid-session Outlook(06-12-2013)

More than 4 hours flat sideways market with selling between 6250-6265 today and view is cautious.

Technical Analysis and Market Outlook(06-12-2013)

Nifty-Intra Day Chart (05-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- Bullish Falling Channel formations in whole day down moves.
2- Whole day actual trading between 6232-6300.

Conclusions from intra day chart analysis

As Exit Poll results showed BJP victory will be with good gains on next Sunday and emergence of strong,economic growth oriented Govt.formation possibility after Parliament Election next year under the leadership of Shri Narendra Modi therefore huge gap up opening today. Good selling in previous 3 sessions below 6228 therefore consolidation was required and it was seen today through higher levels continuous down moves in Bullish Falling Channel.

Impulsive Wave-3 is on,all trends are up and Rally continuation towards 6724.60 therefore market showed as such enthusiasm today after first strong signal of stable union Govt. possibility in 2014. As market showed higher levels consolidation after huge gap up opening therefore today started rally continuation is expected in the coming sessions and weeks. 

Mid-session Outlook-2(05-12-2013)

As Exit Poll results showed BJP victory will be with good gains on next Monday and emergence of strong Govt.formation possibility after Parliament Elections in next year under the leadership of economic growth oriented Prime Minister Modi therefore huge gap up opening today. Good  selling in previous 3 sessions below 6228 therefore higher levels consolidation through continuous down moves in Bullish Falling Channel and  recent lowest formation at 6232.

As higher levels consolidation seen today therefore today started rally continuation is expected. 

Mid-session Outlook(05-12-2013)

Modi factor works and huge gap up opening seen after 1st strong  indication of BJP clear victory possibility in 4 states and 2014 Lok Sabha Election from Exit Poll results yesterday. Not only gap up opening but sustaining at higher levels and consolidating also therefore today started rally continuation is expected. 

Pre-open Outlook(05-12-2013)

As emergence of BJP clear victory possibility in 4 states from Exit Poll results yesterday therefore higher levels consolidation is possible after strong opening. Sustaining above 6228 should be firstly watched today for next up moves confirmations because good selling seen below it in previous 3 sessions.

Mid-session Outlook-2(04-12-2013)

When Nifty was trading flat at 01:41 PM then we cautioned through following line in previous Outlook:-

higher levels selling in previous 2 sessions and follow up selling today also therefore view is cautious despite now flat trading 

Nfty traded 30 points down after slipping from higher levels few minutes before. Next strong support is at 6158 and sustaining below it will mean sharp fall.

Mid-session Outlook(04-12-2013)

Although up moves seen after lower levels supports in first hour but higher levels selling also seen today. As higher levels selling in previous 2 sessions and follow up selling today also therefore view is cautious despite now flat trading after good recovery from lower levels and sustaining above today lowest(6180).

Post-open Outlook(04-12-2013)

As US and European markets closed in Red yesterday and most Asian markets were trading in negative zone therefore sentiment turned dampened today morning and weaker Indian markets since opening today but out performing also and only .25% down while some other Global markets were in Deep Red. Lower levels supports also seen today therefore it is first signal of consolidation and sustaining above today lowest(6180) will mean high possibility of strong markets tomorrow after Exit Poll results in the evening today. 

Technical Analysis and Market Outlook(04-12-2013)

Nifty-Intra Day Chart (03-Dec-2013):-

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Technical Patterns and Formations in today intraday charts

1- Follow up selling at higher levels.
2- Down moves in Bullish Falling Channel
3- Lower levels supports
3- Whole day actual trading between 6191-6224

Conclusions from intra day chart analysis 

As higher levels seen yesterday therefore only selling and down moves were told in all 3 Outlooks of yesterday and most time negative zone trading seen today. Higher levels follow up selling also seen today but down moves in Bullish Falling Channel and lower levels supports also seen therefore mixed trading patterns formations today and sustaining beyond previous 2 sessions trading range(6191-6228) should be firstly watched tomorrow for those next moves confirmations which have already been updated in following topic yesterday.

Technical Analysis and Market Outlook(03-12-2013)