Intraday charts of today are showing selling patterns formations and firstly sustaining beyond 6232-6256(almost 6 hours trading range of yesterday) should be watched for next immediate short term trend confirmations.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(14-01-2014)
Nifty-Intra Day Chart (13-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Almost 6 hours trading between 6232-6256
3- Whole day actual trading between 6190-6288
Although selling in previous week but strong recovery from lower levels seen immediately after opening and almost 6 hours 24 points range bound trading between 6232-6256 and its break out in last half hour seen today. As today up moves were on the expectations of rates reduction by RBI due to expected reduction in inflation today therefore sustaining beyond today most time trading range(6232-6256) should be firstly watched tomorrow for confirmations
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1- Almost 6 hours trading between 6232-6256
3- Whole day actual trading between 6190-6288
Conclusions from intra day chart analysis
Although selling in previous week but strong recovery from lower levels seen immediately after opening and almost 6 hours 24 points range bound trading between 6232-6256 and its break out in last half hour seen today. As today up moves were on the expectations of rates reduction by RBI due to expected reduction in inflation today therefore sustaining beyond today most time trading range(6232-6256) should be firstly watched tomorrow for confirmations
High possibility of slipping and sustaining below 6130
Technical Analysis,Research & Weekly Outlook
(Jan 13 to Jan 17,2014)
Nifty-EOD Chart (10-Jan-2014):- |
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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-i of Wave-3(6342.95 on 03-11-2013)
5- Wave-ii of Wave-3(5972.45 on 13-11-2013)
6- Wave-iii of Wave-3(6415.25 on 09-12-2013)
7- Wave-iv of Wave-3(6129.95 on 18-12-2013)
8- Correction beginning after Wave-v of Wave-3 terminating at 6358.30 on 02-01-2014.
9- Correction continuation with recent bottom formation at 6139,60 on 10-01-2014.
10- Last 5 sessions sideways trading between 6140-6240.
11- 200-Day EMA(today at 5963).
12- 29 Sessions actual trading between 6130-6415
Conclusions from EOD chart analysis
Correction beginning after Wave-v of Wave-3 terminating at 6358.30 on 02-01-2014 and last 5 sessions sideways trading between 6140-6240,sustaining beyond this range will decide next immediate moves therefore should be firstly watched in the coming week.
Nifty-Intra Day Chart (Jan 06 to Jan 10,2014):-
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1- Higher levels good selling in last 5 sessions.
2- Lower levels minor supports in last 5 sessions.
3- 5 Sessions actual trading between 6139-6239
Conclusions from 5 Sessions intra day chart analysis
Although lower levels minor supports but higher levels good selling in last 5 sessions therefore expected that finally Nifty will slip below 5 sessions lowest(6139).
Nifty-Intra Day Chart (10-Jan-2014):-
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1- Support between 6140-6155
2- Up moves in Bearish Rising Channel.
3- Good selling between 6207-6239
4- Sharp down after 3 hours selling.
5- Whole day actual trading between 6140-6239
Conclusions from intra day chart analysis
Highly volatile day after good quarterly results INFY with higher levels good selling and up moves in Bearish Rising Channel therefore finally Nifty will slip below the lowest(6139) of the day.
Conclusions (After Putting All Studies Together)
Long and Intermediate Term Trends are up and Short Term trend turned down after steep fall from 6358.30 on 02-01-2014. Following levels will decide next trends:-
1- Intermediate Term Trend will be down after sustaining below 6130
2- Long Term Trend will be down after sustaining below 200-Day EMA(today at 5963)
9 Sessions sideways trading range(6260-6324) broken down after steep fall from 6358.30 on 02-01-2014 and Nifty sustained below it in previous week therefore its broken down confirmation.
Wave-v of Wave-3 has not shown shown force and moved up slowly as well as terminated after lower bottom formation at 6358.30 therefor emergence of its failure risk. As good selling in last 5 sessions therefore expected that finally Nifty will slip below 5 sessions lowest(6139) and high possibility of sustaining below 6130 as well as Intermediate Term Trend turning down risk. Mostly Intermediate Term Trend remains continued from 3 weeks to 3 months therefore testing of 200-Day EMA(today at 5963) can not be ruled out in this trend.
Should be kept in mind that high possibility of slipping and sustaining below 6130 in next week.
Mid-session Outlook(10-01-2014)
Firstly market slipped after good INFY results but recovered after low formation at 6139.60. As last 5 sessions were range bound with high formation at 6225 with higher levels selling therefore finally sustaining beyond 6130-6225 should be watched for next trend confirmations.
High possibility of sustaining below 6130
Technical Analysis and Market Outlook
(10-01-2014)
Nifty-Intra Day Chart Jan 08 & Jan 09,2014:- |
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1- Good selling between 6181-6191 on 08-01-2014
2- Minor support between 6165-6172 on 08-01-2014
3- Slipping and trading below lowest of yesterday(6160.35)
4- Minor selling between 6176-6187 on 09-01-2014
5- Selling between 6165-6174 on 09-01-2014
6- Selling between 6173-6182 on 09-01-2014
7- Minor support between 6149-6157 on 09-01-2014
8- 2 Sessions actual trading between 6149-6191
Conclusions from 2 Sessions intra day chart analysis
Following conclusions were updated yesterday in Nifty Slipping below 6130:-
1- higher levels good selling and minor support
2- high possibility of slipping below the lowest of today
3- selling was seen in previous 2 sessions and follow up good selling also seen
4- Nifty will slip below 6130
5- sustaining below 6130 will mean mean correction continuation towards 200-Day EMA(today at 5959)
Although minor support at lower levels but follow up higher levels good selling today after previous 3 sessions selling therefore same view of slipping below 6130 as well as high possibility of sustaining below 6130 despite whatsoever INFY quarterly results tomorrow.
Nifty Slipping below 6130
Technical Analysis and Market Outlook
(09-01-2014)
Nifty-Intra Day Chart (08-Jan-2014):-(09-01-2014)
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1- Good selling between 6181-6191
2- Minor support between 6165-6172
3- Whole day actual trading between 6161-6191
Conclusions from intra day chart analysis
30 Points range bound market with higher levels good selling and minor support therefore high possibility of slipping below the lowest of today. As selling was seen in previous 2 sessions and follow up good selling also seen today therefore now expected that Nifty will slip below 6130 and once sustaining below 6130 will mean mean correction continuation towards 200-Day EMA(today at 5959).
Mid-session Outlook-3(08-01-2014)
Selling between 6179-6193 yesterday and almost 4 hours trading between this range therefore sustaining beyond this range willl be 1st strong indication of next moves and should be firstly watched tomorrow.
Mid-session Outlook-2(08-01-2014)
Selling between 6179-6193 yesterday and Nifty slipped below 6179 after almost 3 hours trading near about this range today. If Nifty sustains below 6179 then it will be 1st strong indication of down moves.
Mid-session Outlook(08-01-2014)
Whatsoever market suggests from technical analysis only all that is updated. As it was understood that Indian markets are not prepared for any side decisive moves and will remain range bound therefore following "Weekly analysis" topic was posted on 05-01-2014:-
As was told in above topic same was seen in previous both sessions and today were range bound within 6145-6225. Technical positions of previous 3 sessions as follow:-
1- Supports between 6145-6186
2- Selling between 6179-6220
Intraday patterns are showing lower levels supports and indications of consolidation as well despite slipping from higher levels in last half hour today. More or less sustaining beyond 6130-6220 will be next trend confirmation and expected such moves will be seen next Friday after INFY quarterly results.
Let market prepare for post INFY results decisive moves then will be updated from 5 sessions intraday charts analysis including today and tomorrow.
As was told in above topic same was seen in previous both sessions and today were range bound within 6145-6225. Technical positions of previous 3 sessions as follow:-
1- Supports between 6145-6186
2- Selling between 6179-6220
Intraday patterns are showing lower levels supports and indications of consolidation as well despite slipping from higher levels in last half hour today. More or less sustaining beyond 6130-6220 will be next trend confirmation and expected such moves will be seen next Friday after INFY quarterly results.
Let market prepare for post INFY results decisive moves then will be updated from 5 sessions intraday charts analysis including today and tomorrow.
Post-open Outlook(08-01-2014)
We are continuously telling that Indian markets are not trending but sideways and previous 3 sessions were completely range bound. Technical positions of previous 3 sessions and mid-Dec 2013 are suggesting that equally good supports and resistances are lying between 6130-6220 therefore sustaining beyond or forceful break out of this range will decide next decisive moves and should be firstly watched now.
As far as today 1st hour technical positions are concerned,it is being observed that intraday patterns are showing lower levels supports and indications of consolidation as well.
As far as today 1st hour technical positions are concerned,it is being observed that intraday patterns are showing lower levels supports and indications of consolidation as well.
Technical Analysis and Market Outlook(08-01-2014)
Nifty-Intra Day Chart (07-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6197-6220
2- Support between 6145-6157
3- Selling between 6179-6193
4- Whole day actual trading between 6145-6220
Volatile day with higher levels selling and lower levels also but should be kept in mind that follow up selling seen after yesterday selling and today selling is just above previous strong support range(6130-6180) therefore view is cautious and firstly sustaining it beyond should be watched tomorrow for:-
1- Above 6180 will mean rally beginning after last Thursday started correction completion.
2- Below 6130 will mean correction continuation towards 200-Day EMA(today at 5954)
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1- Selling between 6197-6220
2- Support between 6145-6157
3- Selling between 6179-6193
4- Whole day actual trading between 6145-6220
Conclusions from intra day chart analysis
Volatile day with higher levels selling and lower levels also but should be kept in mind that follow up selling seen after yesterday selling and today selling is just above previous strong support range(6130-6180) therefore view is cautious and firstly sustaining it beyond should be watched tomorrow for:-
1- Above 6180 will mean rally beginning after last Thursday started correction completion.
2- Below 6130 will mean correction continuation towards 200-Day EMA(today at 5954)
Pre-closing Outlook(07-01-2014)
Intraday volatility with higher levels selling and lower levels buying therefore firstly valid break out of 6130-6180 should be watched tomorrow.
Mid-session Outlook-2(07-01-2014)
Last more than 3 hours 15 points range bound trading between 6146-6171. As today trading is within strong support range(6130-6180) therefore has become most crucial therefore valid break out of this range will decide next trend and should befirstly watched for:-
1- Above 6180 will mean rally beginning after last Thursday started correction completion.
2- Below 6130 will mean correction continuation towards 200-Day EMA(today at 5954)
1- Above 6180 will mean rally beginning after last Thursday started correction completion.
2- Below 6130 will mean correction continuation towards 200-Day EMA(today at 5954)
As lower levels supports seen today therefore view view is not Bearish at this moment.
Mid-session Outlook(07-01-2014)
Quiet range bound markets after first hour sharp fall and trading just above strong support(6130) for the last more than 3 hours. It should be kept in mind that finally valid break out of 6130-6180 will decide next big trend.
Technical Analysis and Market Outlook(07-01-2014)
Nifty-Intra Day Chart (06-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- More than 3 hours selling between 6196-6202
2- Triple bottom support between 6170-6180
3- Whole day actual trading between 6170-6202
Although closing after some recovery and lower levels supports but higher levels good selling also seen today therefore emergence of down moves possibilities also. As lower levels good supports above 6130 therefore complete selling patterns are required for decisive down moves below it.
As triple bottom support also seen today therefore view will not be immediately Bearish and Firstly follow up moves and valid break out of 6130-6202 should be watched tomorrow for next immediate moves confirmation.
Detailed analysis have already been updated yesterday in following Weekly Analysis topic yesterday:-
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1- More than 3 hours selling between 6196-6202
2- Triple bottom support between 6170-6180
3- Whole day actual trading between 6170-6202
Conclusions from intra day chart analysis
Although closing after some recovery and lower levels supports but higher levels good selling also seen today therefore emergence of down moves possibilities also. As lower levels good supports above 6130 therefore complete selling patterns are required for decisive down moves below it.
As triple bottom support also seen today therefore view will not be immediately Bearish and Firstly follow up moves and valid break out of 6130-6202 should be watched tomorrow for next immediate moves confirmation.
Detailed analysis have already been updated yesterday in following Weekly Analysis topic yesterday:-
Pre-closing Outlook(06-01-2014)
Following line was told yesterday in Sideways Week ahead in search of Next Big Trend
Sideways market between 6170-6202 today with higher levels some selling but equally good support also at lower levels therefore mentioned range valid break out should be watched tomorrow for first indication of next immediate moves.
complete preparations are required for the formation of next big trend
Sideways market between 6170-6202 today with higher levels some selling but equally good support also at lower levels therefore mentioned range valid break out should be watched tomorrow for first indication of next immediate moves.
Mid-session Outlook-2(06-01-2014)
As some selling therefore Slipping and new low formation at 6170.25 but minor recovery also because consolidation also seen above 6172 last Friday. Now next immediate moves deciding range has been narrowed between 6130-6202(today trading highest). More or less sideways market today and mentioned range valid break out should be watched for next immediate moves confirmation.
Mid-session Outlook(06-01-2014)
Although some recovery from lower levels but emergence of selling patterns indications in last hour today.
Post-open Outlook(06-01-2014)
As most Asian markets are weak and some are .75% to 2.10% down and sentiment turned weak today morning therefore negative zone trading immediately after opening today. Nifty is trading within last Friday trading range(6172-6221) amid depressed sentiments because good supports seen within this range,firstly sustaining beyond this range should be watched for next immediate decisive moves confirmations. Following line was told yesterday in previous Outlook:-
Today lowest is at 6176.15 and firstly sustaining it beyond should be watched for last Thursday started correction continuation/completion.
strong signals of strength on 03-01-2014 and complete selling is required for sustaining below the day's lowest(6172)
Today lowest is at 6176.15 and firstly sustaining it beyond should be watched for last Thursday started correction continuation/completion.
Sideways Week ahead in search of Next Big Trend
Technical Analysis,Research & Weekly Outlook
(Jan 06 to Jan 10,2014)
Nifty-EOD Chart (03-Jan-2014):-
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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-i of Wave-3(6342.95 on 03-11-2013)
5- Wave-ii of Wave-3(5972.45 on 13-11-2013)
6- Wave-iii of Wave-3(6415.25 on 09-12-2013)
7- Wave-iv of Wave-3(6129.95 on 18-12-2013)
8- Wave-v of Wave-3 stopped at 6358.30 on 02-01-2014.
Conclusions from EOD chart analysis
Long and Intermediate term Trends are up,Short term is down and Impulsive Wave-3 is on towards new highs above 6415. At present Wave-v of Wave-3 is on and its correction begun after sharp fall on 02-01-2014. As up moves of mentioned wave were slow and forceful down moves with 9 Sessions trading range(6260-6324) broken down also on 02-01-2014 therefore emergence of trend reversal risk,let its confirmation come waves recounting will be considered.
Nifty-Intra Day Chart (Dec 09 to Jan 03,2014):-
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1- All time high formation at 6415 on 09-12-2013
2- Selling between 6360-6387
3- Selling between 6330-6355
4- Strong support range 6130-6180
5- 9 Sessions sideways trading between 6260-6324.
6- Selling between 6328-6356
7- Support between 6172-6186
8- 19 Sessions actual trading between 6130-6415
Conclusions from 19 Sessions intra day chart analysis
19 Sessions actual trading between 6130-6415 with lower levels good supports and higher levels selling also therefore firstly Nifty has to prepare for one sided decisive moves. 9 Sessions sideways trading between 6260-6324 in last 19 sessions and this range was forcefully broken down on 02-01-2014. Strong support range 6130-6180 and follow up supports and consolidation seen within and above this range on 03-01-2014 therefore Nifty will not easily sustain below 6130.
Expected that Nifty will firstly trade and prepare for next trend between 6130-6260(lowest of 9 Sessions sideways trading range). As supports above 6172 last Friday therefore valid break out of 6172-6260 will give first indication of next trend and confirmation of big moves will be sustaining beyond 6130-6415(19 Sessions trading range).
Nifty-Intra Day Chart (03-Jan-2014):-
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1- Down moves with Bullish Falling Channel.
2- Support between 6172-6186.
3- Up moves with consolidation pattern formations.
4- Whole day actual trading between 6172-6221.
Conclusions from intra day chart analysis
Firstly down moves with Bullish Falling Channel and after that lower levels supports as well as up moves with consolidation pattern formations therefore strong signals of strength on 03-01-2014 and complete selling is required for sustaining below the day's lowest(6172). If finally Nifty sustains above 6172 in the coming week then 2nd January started correction completion will be considered.
Conclusions (After Putting All Indicators Together)
Following levels should be watched in the coming weeks for next big trends:-
1- Resistance between 6330-6355
2- Resistance between 6360-6387
3- Support between 6172-6186
4- Support between 6130-6180
5- Intermediate Term Trend will be down below 6130
6- Long Term Trend will be down below 200-Day EMA(today at 5952)
Nifty closed at 6211.15 last Friday,strong supports below it and equally strong resistances above this range also therefore complete preparations are required for the formation of next big trend and sustaining beyond 19 Sessions range(6130-6415) should be firstly watched in the coming weeks for confirmations.
Sideways week within 6130-6415 ahead in search of next big trend.
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