Technical Analysis and Market Outlook(13-08-2014)

Nifty-Intra Day Chart (12-Aug-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns between 7670-7678
2- Down moves in Bullish Falling Channel
3- Consolidation between 7655-7664 
4- Mixed Patterns between 7655-7678 in first 5 hours.
5- More than .90% rally in last hours.
6- Whole day actual trading between 7655-7735

Conclusions from intra day chart analysis 

Although more than .90% rally in last hours but  without required force and mixed Patterns formations also between 7655-7678 in first 5 hours therefore fresh follow up consolidation is firstly required tomorrow for next rally above today highest. Next supports and next resistances are as follows:-

1- Support between 7655-7664
2- Support between 7599-7616
3- Support between 7541-7560
1- Resistance between 7773-7791
2- Resistance between 7811-7835

Long and Intermediate term trends are up and Short Term trend is sideways between 7423-7840 for the last 47 sessions. Nifty will firstly trade and prepare for next trend between 7664-7773 in the coming sessions. Nifty has retraced 2 times earlier from 7800 but as such good selling not seen between above mentioned resistance ranges and follow up consolidation tomorrow will mean high possibility of rally continuation after new life time high formation.

Although follow up consolidation is firstly required in the coming sessions for next strong rally above 7840 but last 47 sessions trading patterns on EOD chart are suggesting Bullish patterns formation therefore expected that this time Nifty will not retrace from 7800 and finally rally will be seen after new life time high formation. 

Mid-session Outlook-2(12-08-2014)

Although today highest is at 7691 but actual trading highest was at 7677 therefore following correct levels are being updated against first 3 hours levels of previous Outlook:-

first 3 hours between 7658-7677 today 

As lower levels supports also seen above 7655 today therefore Valid break out of today actual trading range(7655-7677) should be firstly watched now for next immediate trend confirmations. 

As mixed patterns formations today therefore view is cautiously Bullish with those following reasons which has already been updated in previous Outlook.

1- Indian markets are out performing Asian markets today. 
2- Strong gap up opening. 
2- Today gap has not filled up yet. 

Mid-session Outlook(12-08-2014)

Technically both selling patterns between 7670-7691 and consolidation patterns of Down moves in Bullish Falling Channel formations in first 3 hours between 7658-7691 today. As Indian markets are out performing Asian markets today and strong gap up opening was also seen today as well as today gap is not filled up yet therefore view is still cautiously Bullish. 

Valid break out of today trading range(7658-7691) should be firstly watched now for next immediate trend confirmations.

Technical Analysis and Market Outlook(12-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Support and consolidation between 7599-7616
3- Whole day actual trading between 7599-7635

Conclusions from intra day chart analysis 

Although lower levels support and consolidation as well as closing near the higher levels of the day but Indian markets under performed Global cues also today therefore some selling possibility can not be ruled out. Sustaining beyond previous support range(7600-7666) should be watched tomorrow for next immediate decisive move confirmation after first strong indication of correction completion.

Mid-session Outlook(11-08-2014)

Although consolidation patterns formations last Friday and some supports with consolidation also seen after gap up opening today but Indian markets are under performing Global cues today therefore emergence of some selling possibility also and firstly sustaining beyond 7600-7666 should be watched for next immediate decisive move confirmation.

Technical Analysis and Market Outlook(11-08-2014)

Nifty-Intra Day Chart (08-Aug-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7541-7560
2- Whole day actual trading between 7541-7592

Conclusions from intra day chart analysis

As Geo Political tension rose last Friday after US President Obama statement of military action in Iraq and Global Stock markets were depressed therefore gap down opening and whole day negative zone trading and more than 1% down closing of all the Indices but

1- Intraday charts are not showing selling patterns formations
2- Lower levels consolidation Patterns are being seen.

Expected that firstly up moves will be seen above intraday highest(7592). As Consolidation was seen between 7631-7666 on 07-08-2014 therefore expected that Nifty will trade above 7666 also . As higher levels multiple resistances also therefore Nifty will be understood sideways between 7541-7841.

Although 300 points slipping from higher levels but as such good selling not seen between mentioned range and high possibility of rally continuation above life time high.

Mid-session Outlook(08-08-2014)

As Geo Political tension rises after US President Obama statement of military action in Iraq therefore Global financial markets are depressing in following manner:-

1- Almost all Asian markets negative closing and some in deep Red.
2- Huge Gap down opening of European markets
1- Weakening of Indian Rupee
4- Crode Oil rates moved up 

As so much negative news flow therefore Nifty traded whole day below 7600 after gap down opening between 7541-7585 with lower levels supports but next decisive moves will be decided according to final settlement of Geo Political tension.

Pre-open Outlook(08-08-2014)

As US President Barack Obama has authorized US Military for targetted air strikes on North Iraq therefore escalation of Geo political tension and resultant weakness is being seen in all the Asian markets. Certainly sentiment turned most depressed today morning therefore gap down opening will be seen in Indian markets and sustaining below  next support range(7600-7666) will be Intermediate term trend turning down and deeper correction confirmation.

Technical Analysis and Market Outlook(08-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7631-7666
2- Whole day actual trading between 7631-7708

Conclusions from intra day chart analysis 

Following line was told in Technical Analysis and Market Outlook(07-08-2014):-

fresh up moves are expected within next 1/2 sessions after getting supports within or near about next support range(7600-7666)

As consolidation patterns formations within above mentioned support range between 7631-7666 therefore next support range(7600-7666) has been strengthened and Nifty will not sustain above 76oo. Although Closing near the lowest of the day and Nifty could not sustain at higher levels as well as sharp fall was seen from higher levels but no selling patterns seen. 

Finally fresh up moves are expected within next 1/2 sessions after getting supports within or near about next support range(7600-7666) despite 87 points down trading of Dow Jones at this moment.

Pre-open Outlook(07-08-2014)

All the Asian markets are trading in Red after flat closing of US markets yesterday therefore sentiment is weaker today morning and resultant negative zone trading is firstly expected in Indian markets. Next supports are between 7600-7666 and sustaining beyond this range should be watched today for next immediate decisive moves confirmations.

Technical Analysis and Market Outlook(07-08-2014)

Nifty-Intra Day Chart (06-Aug-2014):-

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Technical Patterns and Formations in today intraday charts

1- More than 5 hours trading with Mixed Patterns formations between 7696-7740.
2- Down moves in Bullish Falling Channel in last hour.
3- Consolidation patterns formations 
4- Whole day actual trading between 7659-7740

Conclusions from intra day chart analysis 

As US markets closed in deep Red and sentiment was depressed therefore all the Asian  markets were weak and resultant whole day negative zone trading in Indian markets. Sentiment turned more depressed after gap down opening of European markets and more down moves seen as well as closing near the lowest of the day today. 

Although closing near the lowest of the day but as such selling patterns not seen but consolidation patterns also seen therefore much down moves not expected and fresh up moves are expected within next 1/2 sessions after getting supports within or near about next support range(7600-7666).

Mid-session Outlook(06-08-2014)

Whole day negative zone trading and now trading more than .75% down also after weak opening but today intraday charts are showing consolidation patterns formations therefore fresh up moves are expected within next 1/2 sessions.

Technical Analysis and Market Outlook(06-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7639-7666
2- Highly volatile market
3- Mixed Patterns between 7737-7752 
4- Whole day actual trading between 7639-7752

Conclusions from intra day chart analysis 

Highly volatile market with lower levels supports and higher levels Mixed Patterns as well as next immediate resistances above today highest are as follows:-

1- 7773-7791
2- 7811-7835

As Mixed Patterns formations between 7737-7752 in last hour today and above mentioned resistances just above today highest therefore follow up consolidation is firstly required for fresh strong rally after new life time high formations. Forceful break out of immediate resistance range(7700-7717) after lower levels consolidation today therefore emergence of rally continuation possibility in the coming sessions. 

US markets are trading more than .90% down at this moment and its such weaker closing will mean depressed sentiments tomorrow morning and resultant possibility of negative Asian markets as well as weak opening of Indian markets. Although forceful break out of immediate resistance range(7700-7717) today but sustaining beyond this range will give next immediate trend confirmation therefore sustaining beyond 7700-7835 should be finally watched in the coming sessions for next decisive moves confirmation.

Finally fresh rally after new life time high formation is expected in the coming sessions.

Pre-closing Outlook(05-08-2014)

Highly volatile market today through:-

1- Sharp 40 points down within 7 minutes after 12:11 PM
2- Sharp 40 points UP within 7 minutes after 02:00 PM

As follow up consolidation confirmation at lower levels today and forceful up moves above 7717 therefore strong indication of correction completion and rally continuations after follow up consolidation within and near about those next resistances which have already been updated in previous Outlooks.

Mid-session Outlook(05-08-2014)

Following lines were told yesterday in Technical Analysis and Market Outlook(05-08-2014)

1) Next supports are between 7600-7650 and next resistances are as follows:-

1- 7700-7717
2- 7773-7791
3- 7811-7835

2) confirmations is firstly required tomorrow through sustaining above 7650
3) Multiple resistances above 7700 therefore fresh consolidation is also required for fresh rally after new life time high formation
4) follow up consolidation as well as any positive signal from policy may result fast strong rally because above mentioned resistances are not much strong.

High volatility just before and after RBI Credit policy and trading between above mentioned supports(7600-7650) and 1st resistances(7700-7717). As only high volatility and as such no clear positions formations between 7639-7720 today therefore firstly sustaining beyond 7600-7717 should be watched for next trend:-

1- 1st strong signal of correction completion above 7717 
2- Deeper correction confirmation below 7600.

Technical Analysis and Market Outlook(05-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7623-7643
2- Bullish Flag formations in 3 hour
3- Up moves with intraday correction
4- Whole day actual trading between 7623-7694

Conclusions from intra day chart analysis

Following line was told on 01-08-2014 in Mid-session Outlook-2:-

sustaining beyond next supports range(7600-7650) should be watched for next big trend confirmations

Following lines were told today at 10:43 AM in Mid-session Outlook(04-08-2014):-

1- consolidation also seen at lower levels
2- emergence of correction completion possibility
3- next decisive big moves confirmation will be sustaining beyond 7600-7650.

Correction completion possibility was told at 10:43 AM and up moves started at 02:30 PM as well as closing near the highest of the day after gaining 81 points.

Long and Intermediate term trends are up and Short Termk trend is sideways between 7423-7840 for rhe last 41 sessions. Next supports are between 7600-7650 and next resistances are as follows:-

1- 7700-7717
2- 7773-7791
3- 7811-7835

As whole day good consolidation therefore high possibility of rally continuation after correction completion but confirmations is firstly required tomorrow through sustaining above 7650. Multiple resistances above 7700 therefore fresh consolidation is also required for fresh rally after new life time high formation.

As RBI Credit policy tomorrow therefore sideways market is expected up to its announcement at 11:00 AM and follow up consolidation as well as any positive signal from policy may result fast strong rally because above mentioned resistances are not much strong.

Finally fresh rally after new life time high formation is expected in the coming sessions..

Mid-session Outlook(04-08-2014)

Although steep fall from higher levels in last 2 sessions but in Bullish Falling Channel and consolidation also seen at lower levels between next support range(7600-7650) therefore emergence of correction completion possibility and next decisive big moves confirmation will be sustaining beyond 7600-7650.

As I am busy therefore Weekly Outlook is not being updated today but Mid-session Outlooks will be posted during trading hours. 

Mid-session Outlook-2(01-08-2014)

Sentiment is most depressed today because all the European markets are trading more than 1% down and Dow's Futures is now more than 50 points weak after all the Asian markets negative closing therefore sustaining beyond next supports range(7600-7650) should be watched for next big trend confirmations.

Mid-session Outlook(01-08-2014)

Depressing Global cues led gap down opening and lower levels supports with consolidation patterns formation between 7650-7670 and some signals of supports near 7680 also. Follow up moves and sustaining above mentioned levels should be firstly watched now for the first strong signal of correction completion.

Technical Analysis and Market Outlook(01-08-2014)

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

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Technical Patterns and Formations in today intraday charts

1- First 4 hours trading between 7773-7791 with mixed patterns formations
2- Last 3 hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 7722-7791

Conclusions from intra day chart analysis 

Although closing at the lowest of the day but first 4 hours trading with mixed patterns formations and last 3 hours Down moves in Bullish Falling Channel therefore .90 down closing will be understood only derivative expiry reaction. As clear selling patterns not seen and emergence of consolidation patterns also therefore still expectations of rally continuation above 7840 are alive.

As all the Global markets are in Red and some are deep down therefore sentiment is depressed today morning therefore firstly negative zone trading after gap down opening will be seen but finally rally will be seen in the coming weeks.