Technical Analysis and Market Outlook(12-06-2014)

Nifty-Intra Day Chart (11-Jun-2014):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling between 7670-7700
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7589-7700

Conclusions from intra day chart analysis 

Following conclusive lines were told at 07:11 AM in Rally continuation towards Minimum Target of Nifty at 8616.90 on 09-06-2014:-

only 19 Sessions range(7082-7563) break out confirmation is firstly required in next week

As soon as selling developed then following lines were told at 12:33 PM in Mid-session Outlook(09-06-2014) on 09-06-2014:-

1- profit booking also seen between 7652-7669 on the back of heated sentiments
2- at present Nifty will be understood sideways between 7500-7669.

Profit booking was told between 7652-7669 and Nifty could not sustain beyond it as well as closed below 7669 in all 3 previous sessions

Although selling between 7670-7700 today and up moves in Bearish Rising Channel but down moves in big  Bullish Falling Channel also which is consolidation pattern therefore rally beginning hopes after Very short term correction completion are still alive despite today closing near the lower levels of the day.

As selling in last 3 sessions therefore correction continuation will be understood but consolidation patterns were also seen in last 3 sessions therefore expected that correction will not be deep and Nifty will remain sideways between 7500-7700 and prepare for next decisive trend as well as sustaining it beyond will ne next trend confirmation.

Mid-session Outlook(11-06-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(11-06-2014):-

1- mixed patterns formations will be understood and next trend deciding range will be sustaining beyond 7587-7673 and expected that Nifty will firstly trade within or near about this range tomorrow. 
2- Expected that finally fresh rally will be seen after follow up consolidations between 7500-7673 but some more consolidation is firstly required yet and sustaining beyond this range should bewatched tomorrow for next trend confirmations

Nifty traded most time within mentioned ranges and could not sustain above 7673 as well as preparing for next trend. Although Nifty slipped more than 100 points from higher levels of today but inytaday charts of today are showing consolidation indications therefore expectations are alive for rally above today highest in the coming sessions.

Technical Analysis and Market Outlook(11-06-2014)

Nifty-Intra Day Chart (10-Jun-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7587-7608
2- Consolidation between 7614-7627
3- Up moves in Bearish Rising Channel
4- Upmoves in last 1 hour
5- Whole day actual trading between 7587-7663

Conclusions from intra day chart analysis

Following conclusions were told in last 3 Outlooks:-

Following conclusions were told in last 3 Outlooks:-

1- Selling between 7652-7673
2- Consolidation above 7500 and selling below 7673 in last 2 sessions 
3- Nifty will be understood sideways between 7500-7673 and will firstly prepare for next decisive moves within this range
4- some volatility can not be ruled out within mentioned range

As was told 100% same happened today and firstly Nifty slipped from higher levels today  because intraday charts showed selling yesterday and remained whole day sideways between 7500-7673 

Although lower levels supports and consolidation above 7587 today but up moves were in Bearish Rising Channel also therefore mixed patterns formations will be understood and next trend deciding range will be sustaining beyond 7587-7673 and expected that Nifty will firstly trade within or near about this range tomorrow. 

Expected that finally fresh rally will be seen after follow up consolidations between 7500-7673 but some more consolidation is firstly required yet and sustaining beyond this range should bewatched tomorrow for next trend confirmations

Technical Analysis and Market Outlook(10-06-2014)

Nifty-Intra Day Chart (09-Jun-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 7652-7673 
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 7617-7673

Conclusions from intra day chart analysis 

Selling at higher levels and up moves in Bearish Rising Channel also therefore fresh consolidation is firstly required for decisive up moves above highest of the day(7673). As consolidation above 7500 and selling below 7673 in last 2 sessions therefore Nifty will be understood sideways between 7500-7673 and will firstly prepare for next decisive moves within this range.

Expected that finally fresh rally will be seen after follow up consolidations between 7500-7673 but some volatility can not be ruled out within mentioned range because sentiment is heated and complete consolidation is firstly required after good selling at higher levels on 09-06-2014.

Pre-closing Outlook(09-06-2014)

Firstly gap up opening and Whole day positive zone trading with continuous up moves and lower levels supports also. As slow up moves and with Bearish Rising Channel formations today therefore fresh consolidation is required for next decisive rally above today highest(7673) and expected that finally fresh rally will be seen after follow up consolidations between 7500-7673

Mid-session Outlook(09-06-2014)

Although life time high formation amid Presidential address to Parliament but profit booking also seen between 7652-7669 on the back of heated sentiments therefore slipping from higher levels and intraday correction seen. As lower levels supports above 7500 and higher levels selling below 7669 therefore at present Nifty will be understood sideways between 7500-7669. Let fresh consolidation develop then next up moves will be seen and also expected that finally fresh rally will be seen after follow up consolidations between 7500-7669.

Rally continuation towards Minimum Target of Nifty at 8616.90

Technical Analysis,Research & Weekly Outlook

(Jun 09 to Jun 13,2014)

Nifty-EOD Chart (06-Jun-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(7563.50 on 16-05-2014) 
7- Wave-iv of Wave-3(7118.45 on 30-05-2014) 
8- Wave-v of Wave-3 continuation with new highest formation at 7592.70 on 06-06-2014

Waves structure of Wave-iii of Wave-3

Nifty-EOD Chart (06-Jun-2014):-

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Technical Patterns and Formations in EOD charts

1- Wave-iii of Wave-3 beginning(5933.30 on 04-02-2014) 
2- Wave-1(6562.20 on 10-03-2014)
3- Wave-2(6432.70 on 14-03-2014)
4- Wave-3(6869.85 on 25-04-2014)
5- Wave-4(6638.55 on 08-05-2014)
6- Wave-5(7563.50 on 16-05-2014)
7- 19 Sessions sideways correction between 7082-7563
8- 19 Sessions Range broken out on 06-06-2014

Conclusions from EOD charts analysis 

All trends are up and new highest formation at 7592.70 on 06-06-2014 after 19 sessions range broken out on 06-06-2014. Bullish market Wave-v of Wave-3 continuation and Indian markets are moving towards towards those higher levels which can not be easily imagined at this moment because following minimum waves are still left:-

1- Impulsive Wave-v of Wave-3 has started after previous corrective wave(Wave-iv of Wave-3) completion 
2- Wave-v of Wave-3 completion will mean termination of Wave-3 and corrective Wave-4 beginning. 
3- Corrective Wave-4 will correct whole up moves of Wave-3 which started from 5700.95.
4- Impulsive Wave-5 will start towards new top formation above the top of Wave-3.

As per Elliot Wave theory Nifty is well set for rally towards minimum target at 8616.90. Just click following topic link and understand its calculations:-

Minimum target of Nifty at 8616.90

Impulsive Wave-v of Wave-3 continuation and as per Elliot Wave theory " Wave-v of Wave-3 should be shorter than Wave-iii of Wave-3. Impulsive Wave-v of Wave-3 is on and it should gain lesser points than Wave-iii of Wave-3 gained. Maximum target of Wave-v of Wave-3 is as follows:-

1- Wave-iii of Wave-3 started from 5933.30
2- Wave-iii of Wave-3 terminated at 7563.50
3- Wave-iii of Wave-3 gained 1630.20 points
4- Wave-v of Wave-3 started from 7118.45
5- Wave-v of Wave-3 should gain less than 1630.20 points 
6- Therefore Wave-v of Wave-3 should should terminate below 8748.65(7118.45+1630.20)

As per Elliot Wave theory Nifty is at  8616.90 and maximum target of Wave-v of Wave-3 is at 8748.65.  

19 Sessions Range(7082-7563) broken out on 06-06-2014 and technical confirmation of its valid break out will mean confirmation of Wave-v of Wave-3 continuation which should terminate below 8748.65. Nifty traded between 481 points in 19 previous sessions and following Fibonacci levels will also be its next technical targets after break out confirmation above 7563:-

1- 1.618% -7860   
2- 2.000% -8044
3- 2.618% -8341

Following lines were told at 08:47 AM on 12-05-2014 in Minimum target of Nifty at 8616.90

It is very much clear that such strong rally will be seen immediately after the confirmation of Modi becoming P.M. of India and also 

expected that Modi will become Prime Minister of India and 25 sessions range will be broken out with more than 10% to 20% rally in next week.

More than 10% rally has been seen since 12-05-2014 and Bull market is very much intact as well as much more up moves will be seen in the coming weeks and months. It should be kept in mind that complete selling patterns are required on daily and weekly charts for any deeper correction and only 19 Sessions range(7082-7563) break out confirmation is firstly required in next week for fresh phase of those next technical targets which have been updated above.

Pre-closing Outlook(06-06-2014)

Although new all time high formation today but more than 5 hours  up moves were without required force and within bearish Rising Channel also therefore break out confirmation is must through sustaining above 7543/7563 after follow up consolidations.

Mid-session Outlook-2(06-06-2014)

Although Nifty is now .77% up after gap up opening and whole day positive zone trading but today intradau charts are showing selling patterns formations also therefore firstly consolidation and after that sustaining above 7543 is must for next decisive rally after formation of new all time high.

Mid-session Outlook(06-06-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(06-06-2014):-

Expected that Nifty will firstly trade between resistance range(7450-7563) tomorrow and volatility with intraday correction will also be seen.

Following intraday chart of today is proving that what so ever was told yesterday all that proved 100% accurate today in first 2 hours of today trading:-

As some selling was also seen today therefore consolidation is firstly required and valid break out of today trading range(7498-7535) and finally 7450-7563 should be watched for next immediate decisive trend confirmations but finally rally continuation is expected above 7563

Technical Analysis and Market Outlook(06-06-2014)

Nifty-Intra Day Chart (05-Jun-2014):-

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Technical Patterns and Formations in today intraday charts

1- Whole day without force up moves in Expanding Triangle
2- Whole day actual trading between 7360-7484

Conclusions from intra day chart analysis 

All trends are up and closing at all time high but Whole day without force up moves in Expanding Triangle and closing between last resistance range(7450-7563) therefore some more consolidation is firstly required for next decisive rally above all time highest( 7563.50). Expected that Nifty will firstly trade between resistance range(7450-7563) tomorrow and volatility with intraday correction will also be seen.

As next resistance range(7450-7563) is lying therefore follow up consolidation is must and once fresh consolidation within this range will mean strong rally above all time high in the coming weeks and it is expected also. 

Pre-closing Outlook(05-06-2014)

Rally continuation after lower levels supports above 7415 today and now trading between last resistance range(7450-7563). As slow up moves and intraday indicators are overbought therefore some volatility and minor intraday correction is possible but finally rally continuation is expected.

Mid-session Outlook(05-06-2014)

Following lines were told in Mid-session Outlook on 03-06-2014:-

1- Selling seen today just below immediate next strong resistances and once valid break out of today lowest(7343) will mean correction continuation 
2- As Indian markets are Bullish and some times Bullish markets consolidate at higher levels also without giving deeper correction 
3- firstly sustaining beyond today trading range(7343-7424)should be watched 

Selling was told on 03-06-2014 and since then Nifty traded below its highest yesterday and today. As trading with mixed patterns formations and lower levels supports above 7415 today therefore sustaining beyond following ranges watched for next immediate trend confirmations:-

1- 7415-7424
2- 7343-7424

Mid-session Outlooks will be updated today.

As busy today therefore Blog will be updated tomorrow.

Mid-session Outlook(03-06-2014)

Although up moves seen after RBI Credit policy but selling patterns formations also seen in following ranges:-

1- Selling between 7372-7390
2- Selling between 7404-7424

Next Resistances are as follows:-

1- Resistances between 7372-7390(Strong)
2- Resistances between 7450-7563(Moderately strong) 

Selling seen today just below immediate next strong resistances and once valid break out of today lowest(7343) will mean correction continuation towards lowest(7082) of last 15 sessions trading range. As Indian markets are Bullish and some times Bullish markets consolidate at higher levels also without giving deeper correction  therefore firstly sustaining beyond today trading range(7343-7424)should be watched tomorrow.

Technical Analysis and Market Outlook(03-06-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Whole day up moves.
2- Last 3 hours up moves in Bearish Rising Channel. 
3- Whole day actual trading between 7239-7368.

Conclusions from intra day chart analysis 

Whole day up moves after flat opening but last 3 hours up moves in Bearish Rising Channel also therefore follow up consolidation is firstly required tomorrow because next immediate resistances are just above today trading range:-

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

At present Indian markets will be understood side ways between 7082-7563 and Outlook will remain Bullish because strong recovery seen today after 4 previous sessions consolidation patterns formation which is a strong signal of 14 sessions correction completion. 

Mid-session Outlook(02-06-2014)

Following lines were told in almost all the Outlooks of previous sessions

intraday patterns of last 4 sessions are showing consolidation patterns formations despite down moves therefore signals of consolidation process continuation and emergence of fresh up moves expectations also after on going correction completion.

Up moves expectations was told because consolidation process was seen in last 4 sessions and Nifty crossed last 4 sessions trading highest(7345.60) within first 4 hours trading of today. Accuracy of our above projection will be clear from live proof of following intraday chart of last 4 sessions and today:-

First Resistance(7293-7319) has been crossed and multiple resistances are above 7358 therefore complete consolidation is required for decisive rally above 7563. Although side ways market is expected in some more sessions but finally rally is expected above 7563 as being told continuously. 

Nifty heading towards next 10% Moves

Technical Analysis,Research & Weekly Outlook

(Jun 02 to Jun 06,2014)

Nifty-EOD Chart (30-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(7563.50 on 16-05-2014)
7- Wave-iv of Wave-3(14 Sessions sideways correction between 7082-7563)

Conclusions from EOD chart analysis

Long and Intermediate Term Trends are up,Short Term Trend is down and Nifty is sideways between 7082-7563 for the last 14 sessions. Just ckick following topic link which was posted on 19-05-2014 and understand its technical reasons:-

Sideways Market between 7082-7563

Nifty-Intra Day Chart (30-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channel
2- Whole day actual trading between 7215-7272

Conclusions from intra day chart analysis

Whole day down moves in Bullish Falling Channel with flat closing on 30-05-2014 but intraday patterns of last 4 sessions are showing consolidation patterns formations despite down moves therefore signals of consolidation process continuation and emergence of fresh up moves expectations also after on going correction completion.

Conclusions (After Putting All Studies Together)

14 Sessions sideways correction between 7082-7563 and sustaining beyond this range will give next big moves. Next supports and resistances within this range are as follows:-

1- Support between 7193-7229
2- Supports between 7082-7102
1- Resistances between 7293-7319
2- Resistances between 7358-7432
3- Resistances between 7450-7563

As good supports at lower levels and equally strong resistances are lying at higher levels also between 7082-7563 therefore Nifty is not prepared for any side decisive moves and sideways correction of Wave-iv of Wave-3 will remain continued within mentioned range in the coming sessions. Following next huge moves will be seen beyond  7082-7563:-

1- Sustaining above 7563 will mean strong rally after corrective Wave-iv of Wave-3 completion.
2- Sustaining below 7082 will mean deeper correction after Intermediate Term Trend turning down.

Expected that finally rally will remain continued above 7563 after follow up consolidation in the coming sessions but at present correction is on and its completion confirmation is firstly required also and let it happen first then will be updated accordingly in the coming sessions Outlooks, At pewsent Indian markets will be understood side ways between 7082-7563 and heading as well as preparing for next more than 10% huge fast moves after sustaining beyond 7082-7563. 

Mid-session Outlook(30-05-2014)

Although more than 1% down yesterday and now trading almost flat but today intraday patterns and last 3 sessions intraday charts are showing consolidation patterns therefore means that consolidation process is on and expected that on going correction will complete within or above those next supports which have been updated in previous Outlook yesterday. Also expected that next rally will start above 7082.

Technical Analysis and Market Outlook(29-05-2014)

Nifty-Intra Day Chart (29-May-2014):-

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Technical Patterns and Formations in today intraday charts

1- Whole day down moves but in Bullish Falling Channel formations also.
2- Whole day actual trading between 7225-7325

Conclusions from intra day chart analysis 

Although consolidation in last 2 sessions but huge selling was also seen on 16th May(Election results day) and on 26th May(Modi Govt oath taking day) therefore big fall seen on May Derivative expiry day and market closed more than 1% down today. As huge selling on 16th May therefore following topic was posted on 19-05-2014:-

Sideways Market between 7082-7563

Long and Intermediate Term Trends are up and Short Term Trend turned down amid last 13 sessions trading between 7082-7563. Next supports within this range are as follows:- 

1- Support between 7193-7229
2- Supports between 7082-7102

Although Whole day down moves today but with Bullish Falling Channel formations therefore indications of consolidation process emergence also amid on going correction. As consolidation was seen in last 2 sessions also therefore expected that correction will complete within above mentioned both supports ranges.