Technical Analysis,Research & Weekly Outlook(Mar 24 to Mar 28,2014)

Nifty-EOD Chart (22-Mar-2014):-

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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-i of Wave-3(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation
7- 11 Sessions most time trading between 6433-6574

Nifty-Intra Day Chart (Mar 07 to Mar 22,2014):-

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Technical Patterns and Formations in last 11 Sessions intraday charts

1- Higher levels good selling
2- Supports between 6433-6447
3- 11 Sessions most time trading between 6433-6574

Conclusions (After Putting All Studies Together)

Long and Intermediate Term trends are up but Short Term Trend is side ways for the last 11 sessions between 6433-6574. impulsive Wave-3 continuation towards more all time higher levels but indicators are overbought and suggesting correction possibility. It should be kept in mind that Bullish markets complete its correction time wise also and some times price wise correction is not seen.

Expected that Nifty will firstly trade and prepare for next decisive moves within 11 sessions range. As last 11 sessions intraday charts are showing more selling at higher levels therefore possibility of slipping towards lower levels of 11 sessions range and deeper correction will be considered after sustaining below 6433.

NIFTY-Mar F&O-Positional-Shorting Trade

NIFTY-Mar PE(6500)-Buy-Positional-SL-19 & TGT-61-CMP-32
NIFTY-Mar Fut-Sell-Positional-SL-6534 & TGT-6466-CMP-6515(Lalit39)

Technical Analysis and Market Outlook(22-03-2014)

Nifty-Intra Day Chart (21-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Support between 6486-6491
2- Selling between 6495-6508
3- Whole day actual trading between 6486-6508

Conclusions from intra day chart analysis 

Most time range bound trading within 22 points between 6486-6508 with lower levels minor supports and higher levels good selling therefore finally slipping below today lowest(6485.70) is expected. As Dow Jones is trading more than 100 points up therefore some up moves can not be ruled out tomorrow but finally down moves are expected in next week because good selling today.

Mid-session Outlook-2(21-03-2014)

Although whole day positive zone trading but under performing Global markets and selling also seen at higher levels today.

Mid-session Outlook(21-03-2014)

Range bound trading between 6586-6510 with lower levels supports but some selling also at higher levels also therefore firstly sustaining beyond today trading range should be watched now.

Technical Analysis and Market Outlook(21-03-2014)

Nifty-Intra Day Chart (20-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 6493-6506
2- Down moves in Bullish Falling Channel 
3- Whole day actual trading between 6474-6523

Conclusions from intra day chart analysis 

Following line was told in Weekly analysis of current week on 17-03-2014 in Firstly side ways Market before decisive trend

Nifty will firstly trade and prepare for next trend between 6433-6561

As was told same happened and Nifty traded most time within this range between 6474-6574 in current week as well as closed within this range today at 6483.10.

Although Nifty closed in Green yesterday but intraday charts of yesterday showed selling patterns formations therefore following conclusive line was told yesterday at 09:31PM in Technical Analysis and Market Outlook(20-03-2014):-
 

Finally down moves and Short term correction is expected tomorrow despite whatsoever outcome from FOMC meet tonight after 11:30 PM.

When all were waiting for the the declarations of FOMC then we  told yesterday for:- 

1- Today down moves
2- Told for intraday selling 3 times yesterday
3- Posted shorting call of Nifty F&O yesterday

Although Nifty closed in Red today but Indian markets out performed most depressing Global markets and showed consolidation patterns formations as well as down moves were in Bullish Falling Channel therefore much deeper correction is not expected. Follow up consolidation and finally sustaining above 6433 will mean rally beginning after Short Term correction completion.

As consolidation today therefore firstly sustaining beyond today lowest(6474) should be watched tomorrow and at present Indian markets will be understood sideways between 6433-6574 because both higher levels selling and lower levels buying within this range.

Pre-closing Outlook(20-03-2014)

As Short Term correction was expected therefore following line was told yesterday at 09:31PM in Technical Analysis and Market Outlook(20-03-2014):-

Finally down moves and Short term correction is expected tomorrow despite whatsoever outcome from FOMC meet tonight after 11:30 PM.

As was told same happened and whole day negative zone trading today after negative opening but Indian markets out performed Global markets therefore much deeper correction is not expected and sustaining beyond next support(6433) will be watched in the coming sessions.

Mid-session Outlook(20-03-2014)

Nifty moved up 20 points sharply at 11:40 AM but we understood such moves well before from today intraday charts formations therefore we covered and booked profit in our all Shorting positions of Nifty at 11:34 AM,for live proofs just click following topic link:-

NIFTY-Mar F&O-Positional Shorting of 19-03-2014-Covering

When Indian markets were more than .25% down then also we cautioned in Post-open Outlook(20-03-2014) and told following line:-

view is cautious and sustaining beyond 6498-6525 should be watched for today started Short Term correction continuation/completion.

Same view now also which has already been updated today in Post-open Outlook

NIFTY-Mar F&O-Positional Shorting of 19-03-2014-Covering

NIFTY Mar F&O(Selling of Fut and buying of 6500 PE on 19-03-2014)-Cover and book profit immediately-CMP Fut-6530/CMP PE-37(Lalit39)

Post-open Outlook(20-03-2014)

Weakness since opening today but Indian markets are out performing Global markets therefore view is cautious and sustaining beyond 6498-6525 should be watched for today started Short Term correction continuation/completion.

NIFTY-Mar F&O-Positional Shorting of 19-03-2014-Message

NIFTY Mar F&O(Selling of Fut and buying of 6500 PE on 19-03-2014)-All Asian markets are weak today.Just hold and cover after my covering message(Lalit39)

Technical Analysis and Market Outlook(20-03-2014)

Nifty-Intra Day Chart (19-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation and supports between 6507-6520.
1- Higher levels good selling between 6528-6540.
3- Whole day actual trading between 6507-6540

Conclusions from intra day chart analysis 

Whole day range bound 34 points trading  with lower levels some supports and higher levels good selling also therefore emergence of down moves possibilities in the coming sessions. Selling between 6548-6574 was seen yesterday and today selling just below it therefore correction is expected towards next supports near 6433. As next supports below 6433 are near 6300 therefore once sustaining below 6433 will mean sharp fall possibility towards 6300 and it is expected also because good selling was seen at higher levels in previous week.

Finally down moves and Short term correction is expected tomorrow despite whatsoever outcome from FOMC meet tonight after 11:30 PM.

NIFTY-Mar F&O-Positional-Shorting Trade

NIFTY-Mar PE(6500)-Buy-Positional-SL-14 & TGT-54-CMP-32
NIFTY-Mar Fut-Sell-Positional-SL-6606 & TGT-6476-CMP-6550(Lalit39)

Mid-session Outlook-3(19-03-2014)

Last 1 hour intraday charts are showing selling patterns formations.

Mid-session Outlook-2(19-03-2014)

Quiet sideways markets today with some supports above 6506 and minor selling below 6541 also therefore both buying and selling patterns formations between 6506-6541 today. Follow up moves in the coming hours/sessions will be firstly watched for next trend confirm indications because mixed patterns formations today and Nifty is sideways between 6433-6574 for the last last 7 sessions.

Mid-session Outlook(19-03-2014)

Now trading near the higher levels of today but some selling indications also emerged in last 15 minutes.

Post-open Outlook(19-03-2014)

Emergence of some lower levels consolidation,supports and higher bottom formations in first hour today therefore Nifty sustaining above today lowest(at present 6506) will mean some up moves towards next resistance(6574)

Technical Analysis and Market Outlook(19-03-2014)

Nifty-Intra Day Chart (18-Mar-2014):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling patterns formations between 6548-6574.
2- Whole day actual trading between 6498-6574

Conclusions from intra day chart analysis 

Neither we were Bullish nor Bearish and expecting side ways market between 6433-6561 and Nifty closed within this range after higher levels selling patterns formations between 6548-6574. Although firstly some recovery and new all time high formation as well as some up moves in last hour after lower levels minor supports but as such consolidation was not seen and follow up selling tomorrow will mean decisive down moves towards or below 6433.  

Sustaining beyond 6433-6561 was told for the confirmation of next trend but Nifty traded above 6561 and fresh selling seen between 6548-6574 therefore sideways market range has been changed and now Nifty will trade and prepare for next trend between 6433-6574 and finally sustaining beyond it will decide next decisive trend therefore should be firstly watched in the coming sessions.. 

Mid-session Outlook-2(18-03-2014)

Following lines was told yesterday in Firstly side ways Market before decisive trend:-

Nifty will firstly trade and prepare for next trend between 6433-6561 as well as sustaining beyond this range should be watched 

Following lines was told today in Post-open Outlook:-

Now hovering around next trend decider 6562 and firstly sustaining beyond 6562 should be watched for the beginning of Bullish markets fresh phase or entering into range bound mode.

Neither we were Bullish nor Bearish and expecting side ways market 6433-6561 which is being seen today. As higher levels sellling patterns formations between 6548-6572 today therefore sideways market range has been changed and now finally sustaining beyond 6433-6572 will decide next decisive trend. 

Post-open Outlook(18-03-2014)

Sentiment improved after strong closing of US and European markets yesterday and moderately positive almost all Asian markets therefore good recovery from lower levels and new all time high formation. Now hovering around next trend decider 6562 and firstly sustaining beyond 6562 should be watched for the beginning of Bullish markets fresh phase or entering into range bound mode.

Firstly side ways Market before decisive trend

Technical Analysis,Research & Weekly Outlook

(Mar 18 to Mar 22,2014)

Recent top formation at 6,562.85 on 11-03-2014 but well before its happening we told following line on 21-10-2013 in Minimum target of Nifty at 6724.60

Nifty is well set for rally towards minimum target at 6724.60.

Nifty formed new top of rally in previous week but well before its happening following 5 Weekly analysis topics with Bullish views were posted in previous 5 weeks:-

1- Firstly Short Term Correction before Next Rally(Posted on 09-03-2014)
2- Rally Continuation after Very Short Term Correction(Posted on 02-03-2014)
3- Bullish Rally continuation(Posted on 23-02-2014)
4- View is Bullish(Posted on 16-02-2014) 
5- Bullish Week Ahead(Posted on 09-02-2014) 

(Just click on above topic and understand technical reasons of Bullish rally with calculation of next targets)

Nifty-EOD Chart (14-Mar-2014):-

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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-i of Wave-3(6415.25 on 09-12-2013)
5- Wave-ii of Wave-3(5933.30 on 04-02-2014)
6- Wave-iii of Wave-3 continuation

Conclusions from EOD chart analysis

All trends are up and impulsive Wave-3 continuation. As per Elliot Wave theory "Wave-3 continuation toward following minimum targets:-

1- 6647.60
2- 6724.60

(Calculation of above targets have already been updated on 09-03-2014 in Firstly Short Term Correction before Next Rally

Nifty-Intra Day Chart (Mar 13 & Mar 14,2014)

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Technical Patterns and Formations in last 2 Sessions intraday charts

1- Selling between 6543-6561 on 13-03-2014
2- consolidation between 6433-6447 on 14-03-2014
3- 2 Sessions actual trading between 6433-6561

Conclusions from 2 Sessions intra day chart analysis

Last 2 sessions trading between 6433-6561 with higher levels good selling and lower levels good buying also therefore Nifty will firstly trade between this range and prepare for next trend and sustaining beyond this range will be next Short/Intermediate term trend confirmation.

Conclusions (After Putting All Studies Together)

All trends are up but Short Term indicators are overbought and higher levels selling was seen in previous week therefore fresh consolidation and sustaining above previous week highest(6562) is must for next rally. As good consolidation was seen at lower levels last Friday therefore fresh selling is also required for sustaining below last Friday lowest(6433)

Both higher levels selling and lower levels buying as well as Weekly Doji Candle(means confusion) formation therefore Nifty will firstly trade and prepare for next trend between 6433-6561 as well as sustaining beyond this range should be watched for:-

1- Minimum Short Term correction below 6433.
2- Rally towards 6647.60/6724.60 above 6561.