Technical Analysis and Market Outlook(28-05-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7275-7310
2- Higher bottom formation
3- Up moves in Bearish Rising Channel
4- Whole day actual trading between 7275-7245

Conclusions from intra day chart analysis 

Correction continuation after huge selling under most heated sentiment due to Modi's Govt oath taking ceremony on 26-05-2014 and whole day negative zone trading today as well as -0.56% closing today. As lower levels consolidations with higher bottom formation therefore expected that Nifty will not easily sustain below next supports 7248 but up moves in Bearish Rising Channel were also seen in last 2 hours therefore firstly next trend confirmations is also required. Both consolidation and Bearish patterns seen between 7275-7245 today therefore firstly follow up moves with sustaining beyond today trading range should be watched for next immediate trend confirmations. 

As huge selling yesterday therefore equally good consolidation is also required for fresh up moves therefore trading patterns of coming 2/3 sessions should be firstly watched. Follow up consolidation and sustaining above 7248 should be firstly watched in the coming sessions because that will mean fresh rally beginning after correction completion.

Correction continuation and signals of consolidation process beginning today,let it complete then fresh rally will be seen and following supports should be firstly watched:-

1- Support between 7248-7287
2- Support between 7193-7229
3- Supports between 7082-7102

Pre-closing Outlook(27-05-2014)

As today intraday patterns are showing consolidations formations with higher bottom formation as well therefore expected that Nifty will not sustain below 1st supports range(7248-7287) and consolidate for fresh rally between 7248-7563.

Next trend first indication will be sustaining beyond 7248-7350 and should be firstly watched for confirmation.

Mid-session Outlook(27-05-2014)

As correction started after selling with huge volume on the back of most heated sentiment due to Modi's Govt oath taking yesterday therefore Short Term correction continuation between 10 sessions range(7082-7563). Nifty will be understood range bound within mentioned range and sustaining it beyond will be next big moves confirmation.

Detailed analysis with all crucial levels have already been updated in previous Outlook yesterday and at present correction continuation will be considered. Although generation of minor consolidation signals from today first 2 hours intraday chart formations but complete consolidation is required for decisive up moves,let it happen then will be updated accordingly.

Technical Analysis and Market Outlook(27-05-2014)

Nifty-Intra Day Chart (26-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- First 5 hours selling between 7430-7504
2- Sharp fall 
3- Whole day actual trading between 7270-7504

Conclusions from intra day chart analysis 

As most heated sentiment on Modi's Govt oath taking day therefore strong recovery after gap up opening but huge selling/profit booking on the back of encouraging news and resultant sharp fall after 5 hours selling. 

Previous  last resistances were as follows:-

1- Resistances between 7358-7432
2- Resistances between 7450-7563

As selling seen within above Resistance ranges therefore complete consolidation is required for decisive up moves above 7563. Next supports are as follows:-

1- Support between 7248-7287
2- Support between 7193-7229
3- Supports between 7082-7102

If higher levels good Resistances then lower levels equally strong supports also therefore Indian markets are not technically prepared for any side decisive moves. Expected that Nifty will remain sideways between 7082-7563 and prepare for next strong moves. Till now same view of sideways market as was updated on 19-05-2014 in following topic:-

Sideways Market between 7082-7563

Mid-session Outlook(26-05-2014)

Following lines were told on 23-05-2014 in Pre-closing Outlook(23-05-2014)

1- rally continuation is expected in the coming week
2- but follow up consolidation is must because 
3- following 2 last resistances are just above today highest:-
1- Resistances between 7358-7432
2- Resistances between 7450-7563

Most heated sentiment on Modi's Govt oath taking day and whole day trading within above mentioned Resistances but selling/profit booking also seen within mentioned resistance ranges. 

All trends are up but very Short Term Trend will be understood sideways between 7300-7504 and finally sustaining beyond this range should be watched for next immediate trend confirmation.

Weekly Analysis is not being updated today but Mid-session Outlooks will be posted. For technical views just scroll down on Home page and click following topic link:-

Weekly Outlook

Pre-closing Outlook(23-05-2014)

Although firstly some selling at higher levels but lower levels consolidation also between both previous resistances(7287-7320) today therefore rally continuation is expected in the coming week but follow up consolidation is must because following 2 last resistances are just above today highest:-

1- Resistances between 7358-7432
2- Resistances between 7450-7563

Mid-session Outlook(23-05-2014)

Following 2 resistance ranges were updated on 19-05-2014 in Sideways Market between 7082-7563:-

1- Selling between 7358-7432
2- Selling between 7450-7563

Indian markets sharply up immediately up immediately after opening and outperformed Global cues also. Nifty crossed both resistance ranges(7287and 7320) and tested above mentioned 1st resistance range but retraced also after high formation at 7365.35. As some selling also seen at higher levels today therefore view is cautious despite good recovery today.

Live Proofs of our Accurate Predictions and Levels

Technical Analysis and Market Outlook

(23-05-2014)

Nifty-Intra Day Chart (22-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- Up moves with Bearish Rising Channel formation
2- Selling between 7293-7319 
3- Down moves in Bullish Falling Channel
4- Consolidation between 7259-7274
5- Whole day actual trading between 7259-7319

Conclusions from intra day chart analysis 

Sentiment turned Bullish yesterday morning because all the Global markets were strong therefore good recovery from lower levels after positive opening. As without required force up moves with Bearish Rising Channel formation therefore When Nifty was trading near the highest of the day at 7312 at 12:55 PM then we told following lines in Mid-session Outlook(22-05-2014):-

1- today up moves are without force and and showing Bearish Rising Channel formation
2- sustaining above 7287 is still required for next decisive up moves confirmations

Live Proofs of our Accurate Predictions

When Nifty was trading near higher levels of the day then we showed our doubts on further up moves and resultant Nifty slipped exactly from those levels and lost more than 50 points. 

Following lines were told on 21-05-2014 in Technical Analysis and Market Outlook(22-05-2014):-

follow up moves with sustaining beyond following levels and crucial ranges will be firstly watched in the coming sessions:-

1- 7246-7287(For first indication)
2- 7194-7320(For next decisive moves)
3- 7082-7563(For next big moves)

Live Proof of our Accurate Levels

7320 was given for next decisive up moves on 21-05-2014 and Nifty retraced from 7319.55 yesterday.    

Certainly sideways market and above mentioned ranges will next decisive trend confirmation therefore should be watched today and in the coming sessions.

Live Proofs of our Accurate Predictions

Pre-closing Outlook(22-05-2014)

When Nifty was trading near the highest of the day at 7312 at 12:55 PM then following lines were told in Mid-session Outlook(22-05-2014):-

1- today up moves are without force and and showing Bearish Rising Channel formation
2- sustaining above 7287 is still required for next decisive up moves confirmations

When Nifty was trading near higher levels of the day then we showed our doubts and resultant Nifty slipped exactly from those levels and now Nifty is trading at 7262 after loosing more than 50 points. 

We told for sideways market in all the Outlooks of this week and Indian markets are sideways within our given range.  Although we told many times repeating again that Indian market will prepare for next trend within side ways range and next trend deciding levels have been updated in following topic yesterday:-

Technical Analysis and Market Outlook(22-05-2014)

Mid-session Outlook(22-05-2014)

As all the Global markets were strong therefore sentiment turned strong and recovery from lower levels after positive opening as well as trading above last 3 sessions highest(7287) for the last 2 hours. As today up moves are without force and and showing Bearish Rising Channel formation also therefore sustaining above 7287 is still required for next decisive up moves confirmations.

Technical Analysis and Market Outlook(22-05-2014)

Nifty-Intra Day Chart (May 19 to May 21,2014):-

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Technical Patterns and Formations in last 3 Sessions intraday charts

1- Most time trading with Mixed Patterns between 7246-7287
2- Lower levels supports below 7246 and higher levels selling above 7287 in last 3 sessions.
2- 3 Sessions actual trading between 7194-7320

Conclusions from 3 Sessions intra day chart analysis 

As sentiment turned most heated on Election results day therefore higher levels good selling and profit booking seen between 7358-7563 on 16-05-2014 therefore complete consolidation is required for next decisive up moves above 7563. As it was expected therefore following line was told on 19-05-2014 in Sideways Market between 7082-7563:-

"oscillators are overbought and sentiment is over heated after Modi victory therefore Short Term correction possibility can not be ruled out" 

Short Term correction seen and most time trading with mixed Patterns between 7246-7287 in last 3 sessions therefore sustaining beyond this range should be firstly watched for next trend first indication. Supports below 7246 and higher levels selling above 7287 in last 3 sessions therefore Nifty may trade between 7194-7320 amid volatility.

Although some indications of consolidation in last 2 sessions but not as much clear,follow up moves with sustaining beyond following levels and crucial ranges will be firstly watched in the coming sessions:-

1- 7246-7287(For first indication)
2- 7194-7320(For next decisive moves)
3- 7082-7563(For next big moves)

Mid-session Outlook-2(21-05-2014)

More than 12 hours trading between 7246-7287 with consolidation indications in this week and this range broken down but when Nifty was trading below 7246 then following guidance was posted in previous Outlook today:-

1- without required force therefore sustaining below 7246 is must
2- today intraday patterns are showing consolidation indications therefore up moves hopes are still alive after follow up consolidation in the coming sessions.

Now Nifty is trading above 7246 after more than 40 points recovery from lower levels and sustaining it beyond should be firstly watched now for next immediate trend confirmation.

Mid-session Outlook(21-05-2014)

First 3 hours trading between 7246-7287 and this range broen down but without required force therefore sustaining below 7246 is must for decisive down moves below 7246 and should be firstly watched now.

Although Nifty is trading below 7246 but today intraday patterns are showing consolidation indications al so therefore up moves hopes are still alive after follow up consolidation in the coming sessions.

Live Proofs of our Accurate Levels

Post-open Outlook(21-05-2014)

Following conclusions with levels were told in all 3 Outlooks of last 2 sessions:-

Sustaining beyond 7246-7287 will be next big moves confirmation and sustaining beyond this range should be firstly watched for next trend first indication.

Nifty traded in first hour today exactly within our given levels:-

1st hour of today trading range is 7246-7287.15

Same conclusion that sustaining beyond 7246-7287 should be firstly watched for next trend first indication because most time trading within this range in last 2 sessions with mixed patterns formations.

Technical Analysis and Market Outlook(21-05-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Most time trading between 7248-7287 with consolidation indications.
2- Higher levels selling 
3- Whole day actual trading between 7248-7320

Conclusions from intra day chart analysis 

Nifty traded last 3 hours with Mixed Patterns between 7246-7287 yesterday with Mixed Patterns and most time trading between same range with consolidation indications today therefore emergence of fresh up moves posibility. As higher levels selling today and selling between 7358-7563 on 16-05-2014 therefore complete consolidation is required for next decisive up moves above 7563. Following lines were told on 19-05-2014 in Sideways Market between 7082-7563 and being repeated:-

1- Although finally rally continuation is expected above 7563 but oscillators are overbought and sentiment is over heated after Modi victory therefore Short Term correction possibility can not be ruled out 
2- but follow up selling with sustaining below 7082 is must  
3- at present Nifty will be understood sideways between 7082-7563 and sustaining it beyond will be next immediate Trend confirmation.

Technically last 3 sessions down moves will be understood only very Short Term correction and sustaining beyond 7082-7563 will be next big moves confirmation. Most time trading between 7246-7287 in last 2 sessions which means that fresh positions formations for next decisive moves. As per our view sustaining beyond this range should be firstly watched for next trend first indication. 

Mid-session Outlook(20-05-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(20-05-2014):-

"last 3 hours trading with Mixed Patterns between 7246-7287 therefore absence of clear trading positions and more preparations are required for next decisive moves"

As was projected yesterday same is being seen today and last 4 hours trading between almost in same range between 7246-7287 and once sustaining beyond this range will be next trend confirmation. As consolidation indications therefore emergence of fresh up moves posibility after last Friday started correction completion.

Technical Analysis and Market Outlook(20-05-2014)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 7193-7229
2- Mixed Patterns between 7246-7287 in last 3 hours.
3- Whole day actual trading between 7193-7287

Conclusions from intra day chart analysis 

Although firstly slipping from higher levels but recovery after lower levels supports and last 3 hours trading with Mixed Patterns between 7246-7287 therefore absence of clear trading positions and more preparations are required for next decisive moves. . As lower levels supports seen today therefore first signal of correction completion  and once sustaining above today highest(7287) will mean rally continuation towards 7563 after last Friday started very Short Term correction completion.

Sideways Market between 7082-7563

Technical Analysis,Research & Weekly Outlook

(May 19 to May 23,2014)

Nifty-EOD Chart (16-May-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 7563.50 on 16-05-2014

Nifty-Intra Day Chart (16-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- We sold our Call Options with more than 100 points Profit at the top of the day at 09:55 AM on Election Results like volatile day
2- Selling between 7450-7563
3- Selling between 7358-7432
4- Last 2 hours trading with mixed patterns between 7131-7265.
5- Whole day actual trading between 7131-7563

Conclusions (After Putting All Studies Together)

Although strong recovery with BJP winning Election Results on 16-05-2014 but when market was most Bullish then we understood from intraday patterns formations that market will reverse from here therefore we Booked more than 100 points Profit in our Call Option Buying call. Call Options buying call with Guidance and Profit Booking message are as follows:-

1- Profit Booking at 09:55 AM on on 16-05-2014:- NIFTY-May CE(7500)-Bought on 15-05-2014-Cover and book profit immediately-CMP-205(Lalit39) 
2- Guidance posted at 07:39 AM on on 16-05-2014:- NIFTY-May CE(7500)-Bought on 15-05-2014-Market will be volatile but finally rally is expected therefore just hold & cover after my covering message(Lalit39) 
3- Call posted at 03:28 PM on on 15-05-2014:- NIFTY-May CE(7500)-Buy-Positional-SL-74 & TGT-154-CMP-104(Lalit39)

(As we talk with those proofs which no one can deny therefore just click above topic links and verify live Proofs on yours own)

Nifty closed 79.85 points up but Call Options closed 11% to 57% down on 16-05-2014 because many Option traders bought both calls and Puts in expectation of any side 10% Circuit after Election Results but market reacts against the expectation of Small traders therefore  both calls and Puts Options strategy failed on Election results day. Always keep in mind that markets react against general expectations and therefore a trader must be master of mass psychology.

Although BJP victory expectations strengthened every minute on 16-05-2014 but most volatile day and Indian markets closed little above the lowest of the day because profit booking started immediately after opening amid most heated sentiments. Nifty was volatile within huge 432 points after higher levels good selling therefore complete consolidation is firstly required for decisive up moves above 7563. As good support seen above 7082 and good selling also below 7563 in last 4 sessions therefore expected that Nifty will remain sideways and prepare for next moves between 7082-7563 and finally rally will remain continued after follow up consolidation in the coming sessions.

All trends are up and Wave-iii of Wave-3 continuation with new highest formation at 7563.50 on 16-05-2014. Although slipping after panic top formation after victory signals of BJP but closing also at all time high and no damage to Bullish technical formations. As Bearish Shooting Star Candle formation in both Daily and Weekly Chart on 16-05-2014 therefore follow up moves and valid break out following supports/resistances should be firstly watched for next immediate trend confirmations.

1- Supports between 7082-7102
2- Resistances between 7358-7432
3- Resistances between 7450-7563


Bullish market Wave-iii of Wave-3 continuation towards those higher levels which can not be easily imagined at this moment because minimum 6 waves are still left. Just click following Topic link for those minimum 6 Waves and calculation of next minimum target of Nifty:-

Minimum target of Nifty at 8616.90

Although Nifty formed new all time high at 7563.50 on 16-05-2014 but  we told non stop again and again daily only and only for Rally and up moves in all the 25 Outlooks since 02-05-2014. Just click following topic link and understand the strength of supports prepare yourself for trading in the coming sessions:-

25 Accurate Predictions of Nifty Rally on 16-05-2014 with Proofs

As huge range of 481 points(7082-7563) in which Nifty has to trade and prepare for next decisive moves therefore volatility may be high. Although finally rally continuation is expected above 7563 but oscillators are overbought and sentiment is over heated after Modi victory therefore Short Term correction possibility can not be ruled out but follow up selling with sustaining below 7082 is must otherwise at present Nifty will be understood sideways between 7082-7563 and sustaining it beyond will be next immediate Trend confirmation.

25 Accurate Predictions of Nifty Rally on 16-05-2014 with Proofs

 Nifty formed new all time high formation with closing at all time high at  7563.50 on 16-05-2014 but we told non stop again and again daily only and only for Rally and up moves in all the 25 Outlooks since 02-05-2014. As we always talk with those proofs which no one can deny therefore just click following topic links and verify this fact on yours own:- 

1-  In Strong Rally & New All Time High on 16-05-2014:- finally rally continuation with new high formations will be seen tomorrow
2- In Mid-session Outlook(15-05-2014):- fresh rally is expected above 7152
3- In Post-open Outlook(15-05-2014):-finally rally is expected after Election results tomorrow
4- In Technical Analysis and Market Outlook(15-05-2014):- finally rally will be seen in the coming 2/3 sessions
5- In Pre-closing Outlook(14-05-2014):- finally rally will remain continued
6- In Mid-session Outlook(14-05-2014):- finally rally will remain continued
7- In Technical Analysis and Market Outlook(14-05-2014):- finally rally will remain continued after 1/2 sessions consolidation
8- In Technical Analysis and Market Outlook(13-05-2014):- rally continuation is expected after huge gap up opening tomorrow
9- In Pre-closing Outlook(12-05-2014):- Indian markets are  technically poised for more up moves/Rally10- In Technical Analysis and Market Outlook(09-05-2014):- expected that finally Rally/up moves will be seen in the coming sessions.
11- In Pre-closing Outlook(08-05-2014):- same Bullish views is maintained which is being continuously updated for the last 4 sessions.
12- In Post-open Outlook(08-05-2014):- last 5 sessions intraday patterns are showing consolidation patterns therefore it seems that consolidation process is on and finally Rally/up moves will be on 13 may/16 May.

13- Technical Analysis and Market Outlook(08-05-2014) :- last 4 sessions intraday charts showed consolidation patterns formations therefore finally Rally/up moves are expected in the coming sessions.

14- Pre-closing Outlook(07-05-2014):- finally Rally/up moves are expected in the coming sessions

15- Mid-session Outlook(07-05-2014):- finally Rally/up moves are expected.
16- Post-open Outlook(07-05-2014):- finally Rally/up moves are expected
17- Technical Analysis and Market Outlook(07-05-2014):-finally Rally/up moves are expected
18- Mid-session Outlook(06-05-2014):- Bullish expectations was told in all the previous Outlooks and same view today also
19-  Technical Analysis and Market Outlook(06-05-2014) - Certainly up moves expectation are alive after correction completion within last 21 sessions range

20- Mid-session Outlook(05-05-2014):- Certainly up moves expectation are alive after correction completion within last 20 sessions range

21- Technical Analysis,Research & Weekly Outlook(May 05 to May 09,2014):- Finally Rally/up moves will be seen in next week

22- Pre-closing Outlook(02-05-2014):- Although Nifty is going to close flat after whole day down moves but rally will be seen in next week

23- Mid-session Outlook-2(02-05-2014):- finally up moves are expected in next week despite now trading flat after loosing all intraday gains

24- Mid-session Outlook(02-05-2014):-intraday charts are showing consolidation patterns indications therefore emergence of fresh up moves expectations

25- Technical Analysis and Market Outlook(02-05-2014):-Finally expected that Nifty will not sustain below 6651 and up moves will be seen after follow up consolidation in the coming sessions.

All Outlooks of last 2 weeks proved 100% Accurate

Whatsoever happened in the Indian Stock markets on 16-05-2014,all that was updated in all the Outlooks of last 2 weeks. Anyone can verify this fact from the Home page and Archive at the bottom of our this Blog.