Mid-session Outlook(09-04-2014)

As both selling and buying therefore sideways market(6663-6776 and 6651-6676) was told in previous 6 sessions and sustaining it beyond was told in all previous Outlooks and Nifty traded between this range in this week. 

As consolidation patterns formations today and in previous session also therefore expectations are alive for rally continuation above 6776 in the coming sessions. 

Technical Analysis and Market Outlook(09-04-2014)

Nifty-Intra Day Chart (07-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish falling channel.
2- Consolidation between 6651-6671
3- Whole day actual trading between 6651-6725

Conclusions from intra day chart analysis 

Firstly down moves in Bullish falling channel and after that 3 hours consolidation with lower levels good supports also therefore up moves are expected in the coming sessions. 

All trends are up,indicators are over bought and shown negative divergence as well therefore minimum Short Term Correction is due but complete follow up selling is must for any deeper correction

Lower levels consolidation and higher levels selling between 6663-6776 in previous week and good consolidation was seen 6651-6671 on 07-04-2014 therefore until Nifty will not sustain below 6651 after complete selling till then next decisive down moves will not be considered. 

Although indicators are over bought and shown negative divergence also but Indian markets most Bullish and up moves may remain continued after correction completion in sideways moves or very Short Term correction. Expected that Nifty will trade and prepare for next trend between 6651-6776 and sustaining beyond this range will next trend confirmation.

Pre-closing Outlook(07-04-2014)

Following lines were told at 02:05 PM today in Mid-session Outlook:-

1- last 3 hours trading between 6651-6671 with consolidation patterns formations therefore first signal of very Short Term correction completion
2- Although expecting up moves but Valid break out of mentioned range should also be watched for mentioned very short term correction completion/continuation

Following line was told yesterday in Technical Analysis,Research & Weekly Outlook(Apr 07 to Apr 11,2014)

sustaining beyond 6663 should be firstly watched in next couple of sessions for next Short Term Trend confirmation.  

As Nifty hovered around 6663 more than 3 hours when traded between 6651-6671 with consolidation patterns formations therefore moved up according to our expectations and now trading at 5997 therefore strong signal of today started up moves continuation in next trading session. 

Mid-session Outlook(07-04-2014)

As Global markets weakness therefore down moves immediately after positive opening and last 3 hours trading between 6651-6671 with consolidation patterns formations therefore first signal of very Short Term correction completion which begun in previous week. Although expecting up moves but Valid break out of mentioned range should also be watched for mentioned very short term correction completion/continuation. 

Technical Analysis,Research & Weekly Outlook(Apr 07 to Apr 11,2014)

Nifty-EOD Chart (04-Apr-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 with new highest formation at 6776.60 on 03-04-2014

Conclusions from EOD chart analysis 

All trends are up and Bullish market Wave-iii of Wave-3 continuation towards those higher levels which can not be easily imagined at this moment because many more those waves are still left which have already been updated in following topic on 30-03-2014:-

Rally Continuation towards Unimaginable Higher Levels

Nifty-Intra Day Chart (04-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish falling channel.
2- Whole day actual trading between 6686-6728

Conclusions from intra day chart analysis 

As good selling during first 3 sessions of the week therefore consolidation was firstly required for decisive up moves and it was seen in last 2 sessions therefore emergence of rally continuation hopes also despite closing near the lowest of the day. Both good selling and some consolidation also seen in previous week and Weekly Candle is Doji(means indecision between bulls and bears) therefore signals of Short Term Trend turning sideways and sustaining beyond precious week trading range(6663-6776) will be immediate next trend confirmation and should be firstly watched in next week.

Conclusions (After Putting All Studies Together)

At present impulsive Wave-iii of Wave-3 continuation and minor signal of its completion in previous week because some selling was also seen in the beginning of previous week and Weekly Doji Candle(means indecision between bulls and bears). As lower levels some supports some consolidation was also seen in last 2 sessions therefore sustaining beyond 6663-6776 should be firstly watched in next week for immediate next trend confirmation.

It should be kept in mind that all trends are up and indicators and over bought and shown negative divergence as well therefore minimum Short Term Correction is due and follow up selling with sustaining below 6663 will be its confirmation. 

As US markets closed .96% to 2.70% down last Friday and such weakness in Asian markets on next Monday morning will mean depressed sentiments and gap down opening can not be ruled out in Indian markets. In this situation sustaining beyond 6663 should be firstly watched in next couple of sessions for next Short Term Trend confirmation.   

Mid-session Outlook-2(04-04-2014)

New intraday lowest formation after sharp down at 2:00 Pm today but until Nifty will not sustain below 6675 till then decisive down moves will not be considered because consolidation patterns formations seen today.

Mid-session Outlook(04-04-2014)

As good selling in first 3 sessions of the week therefore very short term correction and consolidation was due and it has been seen yesterday and today. Consolidation patterns formation seen yesterday and today therefore emergence of rally continuation hopes in next week.

Technical Analysis and Market Outlook(04-04-2014)

Nifty-Intra Day Chart (03-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel 
2- Fast up in last half hour.
3- Whole day actual trading between 6697-6776

Conclusions from intra day chart analysis 

As continuous higher levels selling in last 3 sessions therefore very short term correction possibility was required and it was seen through most time down moves in Bullish Falling Channel which is consolidation pattern. Good selling in last 3 sessions therefore some down moves can not be ruled out during consolidation process but expected that Nifty will trade and prepare for next trend between last 3 sessions range(6675-6764) and valid break out of this range will be next Short Term Trend confirmation.

Pre-closing Outlook(03-04-2014)

As continuous higher levels selling in last 3 sessions therefore very short term correction possibility was told in most of the previous Outlooks and it is seen today through whole day continuous down moves since opening today. Although today down moves are in Bullish Falling Channel but some more down moves can not be ruled out and expected that Nifty will trade and prepare for next trend between last 3 sessions range(6675-6764) and valid break out of the range will be next Short Term Trend confirmation.

Mid-session Outlook(03-04-2014)

Although Nifty closed near the highest of the day yesterday but selling seen in last 3 sessions therefore we told following conclusive line yesterday in Technical Analysis and Market Outlook(03-04-2014):-

view is cautious and follow up moves with sustaining above today highest will also be firstly watched tomorrow for immediate up moves confirmations. 

As was perceived same happened and Nifty could not sustain at higher levels and slipped immediately after positive opening and now .45% down. Both higher levels selling and lower levels consolidation seen in last 3 sessions therefore finally valid break out of last 3 sessions range(6675-6764) will be next immediate moves confirmations and should be firstly watched.

Technical Analysis and Market Outlook(03-04-2014)

Nifty-Intra Day Chart (02-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6738-6751
2- Minor consolidation between 6724-5733
2- Upmoves in Bearish Rising Channel.
3- Whole day actual trading between 6724-6763

Conclusions from intra day chart analysis 

All trends are up and Indian markets are so highly Bullish that not stopping and not giving any correction despite good selling patterns formations in last 3 sessions. Although last hour up moves in Bearish Rising Channel but minor consolidation also seen above the highest of last 2 sessions therefore of further rally continuation possibility also.

As both selling and consolidations seen in last 3 sessions therefore view is cautious and follow up moves with sustaining above today highest will also be firstly watched tomorrow for immediate up moves confirmations. 

Pre-closing Outlook(02-04-2014)

Market is so highly bullish that not stopping and not giving any correction despite good selling patterns formations. As consolidation at higher levels in last hour therefore emergence of further rally continuation possibility.

Mid-session Outlook(02-04-2014)

Although positive Global cues and SGX Nifty was trading more than 50 points points up today morning but Indian markets completely under performed and Mar Fut. remained 4 to 25 points up today because selling seen at higher levels in last 2 sessions and consolidation was required for any decisive up moves above yesterday highest but selling patterns again seen today therefore very short term down moves are expected.

Technical Analysis and Market Outlook(02-04-2014)

Nifty-Intra Day Chart (01-Apr-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6698-6715
3- Whole day actual trading between 6676-6732

Conclusions from intra day chart analysis 

As higher levels good selling with Hanging Man / Dragonfly Doji Candle(Daily) formation today therefore emergence of Very short term correction possibility because higher levels good selling was seen yesterday also. US markets are .55% to 1.50% up at this moment today and such strong Asian markets may result positive opening of Indian markets tomorrow but sustaining above the last 2 sessions highest(6732) should be watched tomorrow because good selling seen in last 2 sessions. Some lower levels supports also seen yesterday therefore sustaining below yesterday lowest(6663) will be little deeper down moves.

As Bull markets correct and consolidate at higher levels also therefore finally valid break out of 6663-6732 should be watched tomorrow for:-

1- Very short term correction below 6663 or
2- Rally continuation above 6732

Mid-session Outlook(01-04-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(01-04-2014)

firstly fresh consolidation is required for any decisive up moves above today highest. Follow up moves and valid break out of today trading range(6663-6730) should be watched tomorrow

First 4 hours trading between 6676-6732 and most time trading between 6676-6710 today with higher levels again good selling and lower levels some buying also. As again mixed positions formations today therefore same view and valid break out of 6663-6730 should be firstly watched for next trend confirmation.

Technical Analysis and Market Outlook(01-04-2014)

Nifty-Intra Day Chart (31-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Good selling between 6690-6730 
2- Minor support between 6663-6677
3- Whole day actual trading between 6663-6730

Conclusions from intra day chart analysis 

Down moves after higher levels selling but minor supports also at lower levels therefore sideways market today and fresh preparation is required for next immediate decisive moves. All trends are up and indicators are overbought therefore correction is due but complete selling patterns are firstly required for decisive down moves. As higher levels good selling today therefore firstly fresh consolidation is required for any decisive up moves above today highest. Follow up moves and valid break out of today trading range(6663-6730) should be watched tomorrow for:-

1- Very short term correction below 6663 or
2- Rally continuation above 6730

Pre-closing Outlook(31-03-2014)

Sideways market today with lower levels supports and higher levels selling therefore same view which has already been updated in previous Outlooks.

Mid-session Outlook(31-03-2014)

Confirm selling at higher levels today and next immediate supports are at 6644.

Rally Continuation towards Unimaginable Higher Levels

Technical Analysis,Research & Weekly Outlook

(Mar 31 to Apr 04,2014)

Nifty-EOD Chart (28-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 with new highest formation at 6702.60 on 28-03-2014

Conclusions from EOD chart analysis 

With technical calculations following prediction was done on 21-10-2013 in Minimum target of Nifty at 6724.60:-

Nifty is well set for rally towards minimum target at 6724.60

As was told 5 months before and repeated more than 10 times since 21-10-2013, has been proved almost accurate after recent top formation at 6702.60 on 28-03-2014

All trends are up and Bullish market Wave-iii of Wave-3 continuation towards those higher levels which can not be easily imagined at this moment because following minimum waves are still left:-

1- Wave-iii of Wave-3 continuation and no signal of its termination yet.
2- Corrective Wave-iv of Wave-3 will start after on going Wave completion and this corrective will correct whole that up move which started from 5933.30.
3- Impulsive Wave-v of Wave-3 will start after previous corrective wave completion and this Wave will form new high above the top of Wave-iii of Wave-3. It should also be kept in mind that Wave-iii of Wave-3 top formations confirmation has not been seen yet.
4- Wave-v of Wave-3 completion will mean termination of Wave-3 and corrective Wave-4 beginning. 
5- Corrective Wave-4 will correct whole up moves which started from 5700.95.
6- Impulsive Wave-5 will start towards new top formation above the top of Wave-3.

As per Waves structures too much higher levels above 6702.60 are still left and those higher levels will be seen in the coming months and years.

Nifty-Intra Day Chart (28-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6644- 6664
2- Whole day actual trading between 6644-6702

Conclusions from intra day chart analysis 

New intraday high formation at 6702.60 on 28-03-2014 after lower levels good consolidation but when Nifty was trading near the lowest of the day then we were not bearish therefore we clearly told at 12:48 PM on 28-03-2014 in Mid-session Outlook(28-03-2014)

new intraday lowest formation 15 minutes before at 6643.80 but as such selling patterns were not seen today.

As lower levels good consolidation on 31-03-2014 therefore until Nifty will not sustain below the lowest of the day(6643.80) after complete selling till then decisive down moves will not be considered.

Conclusions (After Putting All Studies Together)

At present impulsive Wave-iii of Wave-3 continuation and no signal of its completion yet. Until complete selling patterns will not develop till then correction or decisive down moves will not be seen. As Short Term indicators are over bought therefore correction is due but will not be seen immediately because:-

1- 11 Sessions most time trading range(6433-6574) broken out in previous week.
2- Good intraday consolidation seen at lower levels in previous session(28-03-2014).

Bullish markets following character should also be kept in mind:-

1- Markets consolidate at higher levels also.
2- Some times markets correct time wise not price wise.
3- Some times markets complete its correction in sideways moves and deeper correction is not seen. 

Indian markets are completely Bullish and let complete selling patterns develop then will updated according to intraday selling patterns analysis and until it will not happen till then on going rally will remain continued towards new tops formation.

Mid-session Outlook(28-03-2014)

As big selling patterns formations between 6636-6673 yesterday and consolidation was firstly must for any decisive up moves above 6673 therefore most time trading and preparation for next moves between this range today. Although slipping from higher levels and new intraday lowest formation 15 minutes before at 6643.80 but as such selling patterns were not seen today.

Technical Analysis and Market Outlook(28-03-2014)

Nifty-Intra Day Chart (27-Mar-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 6636-6673
2- Whole day actual trading between 6600-6673

Conclusions from intra day chart analysis 

Although today closing in Green but big selling patterns formations also seen today therefore generation of a correction signal today. It should also be kept in mind that Bull market complete its correction at higher levels consolidation or side ways market also therefore until complete selling will not develop and any crucial support will not break down till then deeper correction will not seen.

All trends are up and rally continuation but correction is due also. Let selling process complete then will be updated according to final positions formations and till then rally continuation may be seen with lesser force also.