Although whole time positive zone trading after Green opening and new life time high formation as well but today intraday charts are not showing strength therefore minor down moves below today lowest(7903) can not be ruled out.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(22-08-2014)
Nifty-Intra Day Chart (21-Aug-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 7904-7919
2- Inverted Head and Shoulders Bullish pattern formation(its Neckline is at 7891)
3- Whole day actual trading between 7856-7919
Volatile market with last 3 sessions new high and low formation as well as higher levels selling and lower levels supports. As lower levels supports with Inverted Head and Shoulders Bullish pattern formation and its Neckline is at 7891 therefore its valid break out will be next decisive moves first indication and sustaining beyond today trading range(7856-7919) will give following next trends confirmations:-
1- Very Short Term correction possibility below 7856
2- Fresh strong rally possibility above 7919
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1- Selling between 7904-7919
2- Inverted Head and Shoulders Bullish pattern formation(its Neckline is at 7891)
3- Whole day actual trading between 7856-7919
Conclusions from intra day chart analysis
Volatile market with last 3 sessions new high and low formation as well as higher levels selling and lower levels supports. As lower levels supports with Inverted Head and Shoulders Bullish pattern formation and its Neckline is at 7891 therefore its valid break out will be next decisive moves first indication and sustaining beyond today trading range(7856-7919) will give following next trends confirmations:-
1- Very Short Term correction possibility below 7856
2- Fresh strong rally possibility above 7919
Pre-closing Outlook(21-08-2014)
Volatile market with higher levels selling and lower levels supports with Inverted Head and Shoulders Bullish pattern formation(its Neckline is at 7891) between 7856-7919. As Neckline is at 7891 therefore its valid break out will next decisive moves first indication and sustaining beyond 7856-7919 will give those next trends confirmations which have alredy been updated in previous Outlook today.
Mid-session Outlook(21-08-2014)
High volatility immediately after opening and slipping also after new life time high formation today. As selling was seen at higher levels in last 2 sessions and today also therefore until Nifty will not sustain above today highest(7919) after complete follow up consolidation till then very Short Term correction possibility will remain alive and firstly sustaining beyond 7865-7919 should be watched for:-
1- Very Short Term correction possibility below 7865
2- Fresh strong rally possibility above 7919
1- Very Short Term correction possibility below 7865
2- Fresh strong rally possibility above 7919
Technical Analysis and Market Outlook(21-08-2014)
Nifty-Intra Day Chart (20-Aug-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 7880-7898
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7865-7898
Although higher levels good selling but all down moves in Bullish Falling Channel therefore mixed patterns formations today also after same mixed patterns yesterday and same following conclusions which updated yesterday in Technical Analysis and Market Outlook(20-08-2014):-
1- As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out
2- and valid break out confirmation of 49 sessions range(7423-7840) will be after sustaining above today highest(7918)
3- as well as it will open the gates of next strong rally above 8000. Expected that very Short Correction will complete above next following supports:-
1- 7696-7718
2- 7655-7664
As positive news of Government approval of Rs 1 lakh crore for Digital India programme therefore some up moves may be seen immediately after opening tomorrow but follow up consolidation is firstly required for next rally above 7918 because following 2 resistances at higher levels:-
1- 7880-7898
2- 7902-7918
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1- Selling between 7880-7898
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7865-7898
Conclusions from intra day chart analysis
Although higher levels good selling but all down moves in Bullish Falling Channel therefore mixed patterns formations today also after same mixed patterns yesterday and same following conclusions which updated yesterday in Technical Analysis and Market Outlook(20-08-2014):-
1- As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out
2- and valid break out confirmation of 49 sessions range(7423-7840) will be after sustaining above today highest(7918)
3- as well as it will open the gates of next strong rally above 8000. Expected that very Short Correction will complete above next following supports:-
1- 7696-7718
2- 7655-7664
As positive news of Government approval of Rs 1 lakh crore for Digital India programme therefore some up moves may be seen immediately after opening tomorrow but follow up consolidation is firstly required for next rally above 7918 because following 2 resistances at higher levels:-
1- 7880-7898
2- 7902-7918
Finally rally above 8000 is expected after follow up consolidations in the coming sessions.
Mid-session Outlook(20-08-2014)
Although Indian markets closed positive and Dow Jones was trading more than 75 points up at 11:24 PM yesterday but then at that time following lines were told yesterday in Technical Analysis and Market Outlook(20-08-2014):-
Very Short Term correction possibility was told and most time negative zone trading between 7867-7898 but today intraday charts have not shown any one sided positions formations therefore sustaining beyond 7867-7918 should be firstly watched now for next big trend confirmations.
As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out
Technical Analysis and Market Outlook(20-08-2014)
Nifty-Intra Day Chart (19-Aug-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 7902-7918
2- Support between 7882-7893
3- Whole day actual trading between 7882-7918
Whole day sideways trading within 36 points with higher levels selling and lower levels supports therefore some more follow up preparation is still required for valid break out confirmation of 49 sessions range(7423-7840).
As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out and valid break out confirmation of 49 sessions range(7423-7840) will be after sustaining above today highest(7918) as well as it will open the gates of next strong rally above 8000. Expected that very Short Correction will complete above next following supports:-
1- 7696-7718
2- 7655-7664
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1- Selling between 7902-7918
2- Support between 7882-7893
3- Whole day actual trading between 7882-7918
Conclusions from intra day chart analysis
Whole day sideways trading within 36 points with higher levels selling and lower levels supports therefore some more follow up preparation is still required for valid break out confirmation of 49 sessions range(7423-7840).
As sufficient selling patterns at higher levels today therefore very Short Term correction possibility can not be ruled out and valid break out confirmation of 49 sessions range(7423-7840) will be after sustaining above today highest(7918) as well as it will open the gates of next strong rally above 8000. Expected that very Short Correction will complete above next following supports:-
1- 7696-7718
2- 7655-7664
Finally rally above 8000 is expected after follow up consolidations in the coming sessions.
Technical Analysis and Market Outlook(19-08-2014)
Nifty-Intra Day Chart (18-Aug-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day slow and without force up moves.
2- Whole day actual trading between 7780-7880
Short Term trend was sideways between 7423-7840 for the last 49 sessions and this range is broken out today but whole day up moves were slow and without force therefore confirmation through sustaining above 7840 is firstly required tomorrow for next decisive rally.
As US markets are trading more than 1% up at this moment therefore sentiment may be heated tomorrow morning and gap up opening above 7900 can not be ruled out,once confirmation of fresh consolidation at higher levels and sustaining above 7840 will mean fresh strong rally above 8000.
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1- Whole day slow and without force up moves.
2- Whole day actual trading between 7780-7880
Conclusions from intra day chart analysis
Short Term trend was sideways between 7423-7840 for the last 49 sessions and this range is broken out today but whole day up moves were slow and without force therefore confirmation through sustaining above 7840 is firstly required tomorrow for next decisive rally.
As US markets are trading more than 1% up at this moment therefore sentiment may be heated tomorrow morning and gap up opening above 7900 can not be ruled out,once confirmation of fresh consolidation at higher levels and sustaining above 7840 will mean fresh strong rally above 8000.
Mid-session Outlook(18-08-2014)
New life time high formation and now trading at 7859 but only one confirmation of sustaining above 7740 is required yet because;-
1- Today and last Thursday up moves are slow as well as lacking force.
2- Today rally is on the back of more than 55 points strong Dow's Futures(now trading 80 points up) and more than 1% up almost all European markets.
1- Today and last Thursday up moves are slow as well as lacking force.
2- Today rally is on the back of more than 55 points strong Dow's Futures(now trading 80 points up) and more than 1% up almost all European markets.
Post-open Outlook(18-08-2014)
Indian markets have shown follow up consolidation indications immediately after opening today therefore sustaining beyond last Thursday most time trading range(7760-7796) should be firstly watched for first strong signal of next trend and confirmation will be sustaining beyond 7760-7835.
Technical Analysis and Market Outlook(18-08-2014)
Nifty-Intra Day Chart (14-Aug-2014):-
Technical Patterns and Formations in today intraday charts
1- Almost whole day slow and without force up moves between 7760-7796.
2- Whole day actual trading between 7740-7796
Although whole day up moves and closing near the higher levels of the day but slow and without force up moves between 7760-7796 therefore profit booking possibility and firstly very short term correction is expected. Folloing resistances were updated in previous Outlooks:-
1- Resistance between 7773-7791
2- Resistance between 7811-7835
As profit booking seen between first resistance range therefore possibility of slipping below 7760 and same view which was updated in following lines on 14-08-2014 in Mid-session Outlook:-
rally is slow and lacking required force therefore sustaining above 7835 with follow up consolidation is firstly required on next Monday for valid break out confirmation of 7840.
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1- Almost whole day slow and without force up moves between 7760-7796.
2- Whole day actual trading between 7740-7796
Conclusions from intra day chart analysis
Although whole day up moves and closing near the higher levels of the day but slow and without force up moves between 7760-7796 therefore profit booking possibility and firstly very short term correction is expected. Folloing resistances were updated in previous Outlooks:-
1- Resistance between 7773-7791
2- Resistance between 7811-7835
As profit booking seen between first resistance range therefore possibility of slipping below 7760 and same view which was updated in following lines on 14-08-2014 in Mid-session Outlook:-
rally is slow and lacking required force therefore sustaining above 7835 with follow up consolidation is firstly required on next Monday for valid break out confirmation of 7840.
Mid-session Outlook(14-08-2014)
Following lines were told yesterday in Technical Analysis and Market Outlook(14-08-2014)
As consolidation was also today therefore rally continuation hopes are still alive after follow up consolidation because following immediate resistances are lying just above today highest:-
1- Resistance between 7773-7791
2- Resistance between 7811-7835
As consolidation was also today therefore rally continuation hopes are still alive after follow up consolidation because following immediate resistances are lying just above today highest:-
1- Resistance between 7773-7791
2- Resistance between 7811-7835
Nifty crossed first resistance range but today rally is slow and lacking required force therefore sustaining above 7835 with follow up consolidation is firstly required on next Monday for valid break out confirmation of 7840.
Technical Analysis and Market Outlook(14-08-2014)
Nifty-Intra Day Chart (13-Aug-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 7735-7757
2- Buying between 7696-7718
3- Whole day actual trading between 7696-7757
Sentiment was heated after strong rally yesterday therefore firstly profit booking seen immediately after opening but lower levels supports and consolidation was also seen within 61 points range bound volatile market. As consolidation was also today therefore rally continuation hopes are still alive after follow up consolidation because following immediate resistances are lying just above today highest:-
1- Resistance between 7773-7791
2- Resistance between 7811-7835
As both higher levels selling and lower levels buying therefore mixed patterns formations today and sustaining beyond following levels should be firstly watched in the coming sessions for next immediate decisive moves confirmations:-
1- 7696-7757
2- 7664-7773
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1- Selling between 7735-7757
2- Buying between 7696-7718
3- Whole day actual trading between 7696-7757
Conclusions from intra day chart analysis
Sentiment was heated after strong rally yesterday therefore firstly profit booking seen immediately after opening but lower levels supports and consolidation was also seen within 61 points range bound volatile market. As consolidation was also today therefore rally continuation hopes are still alive after follow up consolidation because following immediate resistances are lying just above today highest:-
1- Resistance between 7773-7791
2- Resistance between 7811-7835
As both higher levels selling and lower levels buying therefore mixed patterns formations today and sustaining beyond following levels should be firstly watched in the coming sessions for next immediate decisive moves confirmations:-
1- 7696-7757
2- 7664-7773
Mid-session Outlook(13-08-2014)
Although strong rally in last hours yesterday but we were cautiously Bullish therefore following lines were told yesterday in Technical Analysis and Market Outlook(13-08-2014)
1- more than .90% rally in last hours but without required force
2- mixed Patterns formations also between 7655-7678 in first 5 hours
3- fresh follow up consolidation is firstly required tomorrow for next rally above today highest
4- Nifty will firstly trade and prepare for next trend between 7664-7773 in the coming sessions.
As was perceived same happened and sustaining beyond following levels will be firstly watched now for next immediate moves confirmations because both higher levels some selling and lower levels minor buying is also being seen today:-
1- 7696-7757
2- 7664-7773
1- more than .90% rally in last hours but without required force
2- mixed Patterns formations also between 7655-7678 in first 5 hours
3- fresh follow up consolidation is firstly required tomorrow for next rally above today highest
4- Nifty will firstly trade and prepare for next trend between 7664-7773 in the coming sessions.
As was perceived same happened and sustaining beyond following levels will be firstly watched now for next immediate moves confirmations because both higher levels some selling and lower levels minor buying is also being seen today:-
1- 7696-7757
2- 7664-7773
Technical Analysis and Market Outlook(13-08-2014)
Nifty-Intra Day Chart (12-Aug-2014):-
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
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.
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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 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.
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):-
Technical Patterns and Formations in today intraday charts
1- Support and consolidation between 7599-7616
3- Whole day actual trading between 7599-7635
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.
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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):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7541-7560
2- Whole day actual trading between 7541-7592
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.
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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.
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