Nifty got supports between 7951-7980 yesterday and almost last 2 hours trading within this range today after slipping from higher levels. As Sep. Derivative expiry today and markets react according to its technical positions on this day therefore firstly next trend confirmations is must through sustaining beyond above mentioned support range. As selling signals are being seen today therefore view is cautious.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Technical Analysis and Market Outlook(25-09-2014)
Nifty-Intra Day Chart (24-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves but in Bullish Falling Channel
2- Support between 7951-7980
3- Whole day actual trading between 7951-8042
Following conclusions lines were told at 10:14 AM in Post-open Outlook(24-09-2014):-
1- Nifty is trading near about psychological level of 8000 today
2- firstly sustaining beyond this levels should be watched today
3- finally next big trend will be decided according to sustaining beyond 7918-8180.
Previous supports were between and Nifty got supports within this range today therefore these supports have strengthened today because consolidation pattern of Bullish Falling Channel formations just above it today:-
Most time negative zone trading with Red closing above the psychological level of 8000 at 8002.45 today but whole day down moves in Bullish Falling Channel and lower levels supports also therefore fresh up moves beginning towards 8170 is expected from tomorrow.
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1- Whole day down moves but in Bullish Falling Channel
2- Support between 7951-7980
3- Whole day actual trading between 7951-8042
Conclusions from intra day chart analysis
Following conclusions lines were told at 10:14 AM in Post-open Outlook(24-09-2014):-
1- Nifty is trading near about psychological level of 8000 today
2- firstly sustaining beyond this levels should be watched today
3- finally next big trend will be decided according to sustaining beyond 7918-8180.
Previous supports were between and Nifty got supports within this range today therefore these supports have strengthened today because consolidation pattern of Bullish Falling Channel formations just above it today:-
1- 7924-7952
2- 7856-7891
Most time negative zone trading with Red closing above the psychological level of 8000 at 8002.45 today but whole day down moves in Bullish Falling Channel and lower levels supports also therefore fresh up moves beginning towards 8170 is expected from tomorrow.
Post-open Outlook(24-09-2014)
As following news therefore market may be volatile:-
1- US attack on ISIS in Syria therefore huge fall in all Global markets yesterday.
2- coal scam judgement today at 02:00 PM today.
3- Sep. Derivative expiry tomorrow.
1- US attack on ISIS in Syria therefore huge fall in all Global markets yesterday.
2- coal scam judgement today at 02:00 PM today.
3- Sep. Derivative expiry tomorrow.
Nifty is trading near about psychological level of 8000 today and firstly sustaining beyond this levels should be watched today and finally next big trend will be decided according to sustaining beyond 7918-8180.
Technical Analysis and Market Outlook(24-09-2014)
Nifty-Intra Day Chart (23-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves but in Bullish Falling Channel
2- Whole day actual trading between 80009-8159
Down moves started immediately after opening but in Bullish Falling Channel therefore an indication of fresh rally after correction completion. Long and Intermediate Term trends are up and Short Term Trend is sideways between 7918-8180 for the last 19 sessions. Nifty is preparing for next decisive big moves within this range and next trend will get confirmation after sustaining beyond this range.
Although huge fall today but as such intraday selling patterns were not seen and Bullish Falling Channels formations also developed therefore finally rally above 8180 is still expected despite today closing near the lowest of the day.
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1- Whole day down moves but in Bullish Falling Channel
2- Whole day actual trading between 80009-8159
Conclusions from intra day chart analysis
Down moves started immediately after opening but in Bullish Falling Channel therefore an indication of fresh rally after correction completion. Long and Intermediate Term trends are up and Short Term Trend is sideways between 7918-8180 for the last 19 sessions. Nifty is preparing for next decisive big moves within this range and next trend will get confirmation after sustaining beyond this range.
Although huge fall today but as such intraday selling patterns were not seen and Bullish Falling Channels formations also developed therefore finally rally above 8180 is still expected despite today closing near the lowest of the day.
Technical Analysis and Market Outlook(23-09-2014)
Nifty-Intra Day Chart (22-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidations between 8065-8090
2- Selling at higher levels in last 1 hour between 8145-8159
3- Whole day actual trading between 8065-8159
As good selling last Friday therefore firstly Nifty slipped 55 points immediately after opening today and recovered also after consolidations but selling was seen at higher levels between last resistance range(8140-8170). Selling was seen just below last resistance range(8124-9144) last Friday and follow up selling was seen within it today also therefore last resistance range of Nifty will be understood between 8124-9170 and follow up consolidation is must for sustaining and fresh rally above 8170.
Both higher levels good selling(resistances) between 8124-9160 and equally good lower levels buying(supports) also between 8065-8090 in last 2 sessions therefore Nifty will firstly trade and prepare for next trend within 8065-8160 in the coming session. Although Nifty has faced resistance between and near about last resistance range but lower levels good consolidations yesterday and in previous week therefore finally fresh rally is still expected above all time high(7180) but firstly some down moves can not be ruled out because follow up selling in previous resistance range(8140-8170) yesterday and last Friday.
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1- Consolidations between 8065-8090
2- Selling at higher levels in last 1 hour between 8145-8159
3- Whole day actual trading between 8065-8159
Conclusions from intra day chart analysis
As good selling last Friday therefore firstly Nifty slipped 55 points immediately after opening today and recovered also after consolidations but selling was seen at higher levels between last resistance range(8140-8170). Selling was seen just below last resistance range(8124-9144) last Friday and follow up selling was seen within it today also therefore last resistance range of Nifty will be understood between 8124-9170 and follow up consolidation is must for sustaining and fresh rally above 8170.
Both higher levels good selling(resistances) between 8124-9160 and equally good lower levels buying(supports) also between 8065-8090 in last 2 sessions therefore Nifty will firstly trade and prepare for next trend within 8065-8160 in the coming session. Although Nifty has faced resistance between and near about last resistance range but lower levels good consolidations yesterday and in previous week therefore finally fresh rally is still expected above all time high(7180) but firstly some down moves can not be ruled out because follow up selling in previous resistance range(8140-8170) yesterday and last Friday.
Mid-session Outlook(22-09-2014)
Following conclusive lines were told today at 01:10 AM in previous Outlook:-
As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week.
Firstly Nifty slipped 55 points immediately after opening today and recovered after consolidations between 8065-8090. Immediate resistances are between 8124-9144 therefore following 2 ranges should be firstly watched now:-
1- 8065-8144(For next trend first 1st strong indication)
2- 7924-8170(For next big moves confirmations)
As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week.
Firstly Nifty slipped 55 points immediately after opening today and recovered after consolidations between 8065-8090. Immediate resistances are between 8124-9144 therefore following 2 ranges should be firstly watched now:-
1- 8065-8144(For next trend first 1st strong indication)
2- 7924-8170(For next big moves confirmations)
As Indian markets outperformed Global cues today therefore up sides break out possibility above 8144/8177 is more
Technical Analysis,Research & Weekly Outlook(Sep 22 to Sep 26,2014)
Nifty-Intra Day Chart (Aug 27 to Sep 19,2014):-
Technical Patterns and Formations in last 17 Sessions intraday charts:-
1- Supports between 7924-7991
2- Resistances between 8110-8170
3- 17 Sessions actual trading between 7918-8170
Conclusions from 17 Sessions intra day chart analysis
17 Sessions side ways market between 7918-8170 with higher levels selling and lower levels buying. Previous supports were between:-
1- 7924-7952
2- 7856-7891
Nifty got supports between above supports on 16th and 17th Sep and strong rally seen on 18-09-2014.
Previous resistances were between:-
1- 8090-8127
2- 8140-8170
Follow up selling seen between above resistance ranges on 19-09-2014 therefore possibility of slipping towards next supports in the beginning of next week.
Nifty-Intra Day Chart (19-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- More than 3 hours selling between 8124-9144
2- Whole day actual trading between 8106-8160
Conclusions from intra day chart analysis
As more than 3 hours selling therefore possibility of slipping below day's lowest(6106) because follow up selling seen between following previous 2 resistance ranges:-
1- 8090-8127
2- 8140-8170
When Nifty was trading at too much lower levels then following topics were posted;-
1- We told following line on 12-05-2014 in Minimum target of Nifty at 8616.90
2- We told following line on 21-10-2013 in Minimum target of Nifty at 6724.60
(Just click above topic links and understand the calculations of above targets according to Elliot Wave theory)
Long and Intermediate Term trends are up and Short Term Trend is sideways between 7924-8170 for the last 17 sessions because both lower levels supports and higher levels selling seen within this range on 19-09-2014 therefore we told following line at 02:26 PM in Mid-session Outlook-2(19-09-2014):-
As follow up supports at lower levels and follow up selling at higher levels were seen in previous week therefore both supports and resistances have been strengthened also and expected that Nifty will firstly trade and prepare for next trend within last 17 sessions trading range(7924-8170)
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1- Supports between 7924-7991
2- Resistances between 8110-8170
3- 17 Sessions actual trading between 7918-8170
Conclusions from 17 Sessions intra day chart analysis
17 Sessions side ways market between 7918-8170 with higher levels selling and lower levels buying. Previous supports were between:-
1- 7924-7952
2- 7856-7891
Nifty got supports between above supports on 16th and 17th Sep and strong rally seen on 18-09-2014.
Previous resistances were between:-
1- 8090-8127
2- 8140-8170
Follow up selling seen between above resistance ranges on 19-09-2014 therefore possibility of slipping towards next supports in the beginning of next week.
Nifty-Intra Day Chart (19-Sep-2014):-
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1- More than 3 hours selling between 8124-9144
2- Whole day actual trading between 8106-8160
Conclusions from intra day chart analysis
As more than 3 hours selling therefore possibility of slipping below day's lowest(6106) because follow up selling seen between following previous 2 resistance ranges:-
1- 8090-8127
2- 8140-8170
Conclusions (After Putting All Studies Together)
When Nifty was trading at too much lower levels then following topics were posted;-
1- We told following line on 12-05-2014 in Minimum target of Nifty at 8616.90
As per Elliot Wave theory Nifty is well set for rally towards minimum target at 8616.90.
2- We told following line on 21-10-2013 in Minimum target of Nifty at 6724.60
Nifty is well set for rally towards minimum target at 6724.60.
(Just click above topic links and understand the calculations of above targets according to Elliot Wave theory)
Long and Intermediate Term trends are up and Short Term Trend is sideways between 7924-8170 for the last 17 sessions because both lower levels supports and higher levels selling seen within this range on 19-09-2014 therefore we told following line at 02:26 PM in Mid-session Outlook-2(19-09-2014):-
last 2 hours intraday charts are showing selling indications
As follow up supports at lower levels and follow up selling at higher levels were seen in previous week therefore both supports and resistances have been strengthened also and expected that Nifty will firstly trade and prepare for next trend within last 17 sessions trading range(7924-8170)
As follow up selling last Friday therefore firstly down moves are expected in the beginning of next week but next big moves will be seen after valid break out of 7924-8170 and should be firstly watched in next week.
Pre-closing Outlook(19-09-2014)
Although Nifty traded most time in positive zone trading When was trading in Green then following line was told in Previous Outlook
last 2 hours intraday charts are showing selling indications
Nifty could not move up and now trading in Red as well as sustaining beyond today trading range should be firstly watched in next week for next trend confirmation
Mid-session Outlook-2(19-09-2014)
Although most time positive zone trading and now Nifty is still in Green also but last 2 hours intraday charts are showing selling indications
Mid-session Outlook(19-09-2014)
Following conclusive lines were told yesterday in Technical Analysis and Market Outlook(19-09-2014)
1- some more follow up consolidation is still required within next resistance ranges(8090-8127 and 8140-8170) and
2- its valid break out above 8170 will mean fresh strong rally after Short Term Correction completion.
Above resistances were updated and more than 3 hours trading within mentioned resistances between 8106-8160 today and preparing for next decisive moves. As intraday patterns have not given any indication yet therefore coming hours trading patterns will be watched than then break out direction will be decided from intraday charts analysis and will be updated accordingly.
No guessing and never gossiping,whatsoever intraday,Daily,Weekly and Monthly charts suggests only that is updated. As valid break out of 8090-8170 will decide next big moves therefore should also be firstly watched for confirmations.
1- some more follow up consolidation is still required within next resistance ranges(8090-8127 and 8140-8170) and
2- its valid break out above 8170 will mean fresh strong rally after Short Term Correction completion.
Above resistances were updated and more than 3 hours trading within mentioned resistances between 8106-8160 today and preparing for next decisive moves. As intraday patterns have not given any indication yet therefore coming hours trading patterns will be watched than then break out direction will be decided from intraday charts analysis and will be updated accordingly.
No guessing and never gossiping,whatsoever intraday,Daily,Weekly and Monthly charts suggests only that is updated. As valid break out of 8090-8170 will decide next big moves therefore should also be firstly watched for confirmations.
Technical Analysis and Market Outlook(19-09-2014)
Nifty-Intra Day Chart (18-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day strong rally after negative opening
2- Huge 74 points huge jump Jump immediately after opening
3- Up moves with continuous higher levels consolidations.
4- Whole day 180 points sharp rally between 7940-8120
Although 180 Points strong rally today but when Nifty closed near the lowest of the day on 16-09-2014 then following lines were told in Technical Analysis and Market Outlook(17-09-2014):-
Following lines were told yesterday in Technical Analysis and Market Outlook(18-09-2014):-
1- As most time good consolidations and minor selling in last hour today therefore
2- up moves above today highest(7990) is firstly expected
1- In Nifty-Sep Fut- 75 points huge jump from 7986 to 8062 within 2 minutes between 09:37 AM and 09:39 AM
2- In Nifty Spot- 74 points huge jump from 7975 to 8049 within 7 minutes between 09:36 AM and 09:43 AM.
Above mentioned fact is well proved from following intraday Charts of today:-
1-Nifty-Sep Fut Intraday Charts of between 09:37 AM and 09:39 AM:-
2-Nifty Spot Intraday Charts of between 09:36 AM and 09:43 AM:-
Next resistances are as follows:-
1- 8090-8127(Nifty closed within this range today)
2- 8140-8170
Long and Intermediate Term Trends are up and and now Short Term Trend is sideways between 7924-8170 because still higher levels resistances and lower levels supports within this range. Certainly strong rally today and it was expected also because most time good consolidations yesterday and lower levels consolidation pattern formation on 17-09-2014.
As no selling patterns formations and higher levels consolidations today therefore rally continuation is expected in the coming sessions because until complete follow up selling will not develop till then any down move can not be considered. As above mentioned last 2 resistance ranges and Nifty closed within 1st resistance range also today therefore some more follow up consolidation is still required within next resistance ranges(8090-8127 and 8140-8170) and its valid break out above 8170 will mean fresh strong rally after Short Term Correction completion.
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1- Whole day strong rally after negative opening
2- Huge 74 points huge jump Jump immediately after opening
3- Up moves with continuous higher levels consolidations.
4- Whole day 180 points sharp rally between 7940-8120
Conclusions from intra day chart analysis
Although 180 Points strong rally today but when Nifty closed near the lowest of the day on 16-09-2014 then following lines were told in Technical Analysis and Market Outlook(17-09-2014):-
Bullish Falling Wedge pattern formations was also seen in last hour today therefore emergence of Pull Back rally possibility tomorrow
Pull Back rally possibility was told and Nifty closed 43 points up on 17-09-2014
Following lines were told yesterday in Technical Analysis and Market Outlook(18-09-2014):-
1- As most time good consolidations and minor selling in last hour today therefore
2- up moves above today highest(7990) is firstly expected
As was told 100% same happened today and 7990 was crossed as well as closed 139 points up today
1- In Nifty-Sep Fut- 75 points huge jump from 7986 to 8062 within 2 minutes between 09:37 AM and 09:39 AM
2- In Nifty Spot- 74 points huge jump from 7975 to 8049 within 7 minutes between 09:36 AM and 09:43 AM.
Above mentioned fact is well proved from following intraday Charts of today:-
1-Nifty-Sep Fut Intraday Charts of between 09:37 AM and 09:39 AM:-
1- 8090-8127(Nifty closed within this range today)
2- 8140-8170
Long and Intermediate Term Trends are up and and now Short Term Trend is sideways between 7924-8170 because still higher levels resistances and lower levels supports within this range. Certainly strong rally today and it was expected also because most time good consolidations yesterday and lower levels consolidation pattern formation on 17-09-2014.
As no selling patterns formations and higher levels consolidations today therefore rally continuation is expected in the coming sessions because until complete follow up selling will not develop till then any down move can not be considered. As above mentioned last 2 resistance ranges and Nifty closed within 1st resistance range also today therefore some more follow up consolidation is still required within next resistance ranges(8090-8127 and 8140-8170) and its valid break out above 8170 will mean fresh strong rally after Short Term Correction completion.
Mid-session Outlook(18-09-2014)
Following 4 resistance ranges were posted yesterday in Technical Analysis and Market Outlook(18-09-2014)
1- 8022-8040
2- 8052-8060
3- 8090-8127
4- 8140-8170
2 resistances have been crossed and 3rd resistance which is strong also has been tested in blasting rally of today. Long and Intermediate Term Trends are up and and now Short Term Trend is sideways between 7924-8170 because still higher levels resistances and lower levels supports within this range. Certainly strong rally today and it was expected also because most time good consolidations yesterday.
As no selling patterns seen yet and higher levels consolidations also being seen therefore rally continuation is still expected. Until complete follow up selling will not develop till then next down moves will not be considered. Follow up consolidation within next resistance ranges(8090-8127 and 8140-8170) and its valid break out will mean fresh strong rally after Short Term Correction completion.
1- 8022-8040
2- 8052-8060
3- 8090-8127
4- 8140-8170
2 resistances have been crossed and 3rd resistance which is strong also has been tested in blasting rally of today. Long and Intermediate Term Trends are up and and now Short Term Trend is sideways between 7924-8170 because still higher levels resistances and lower levels supports within this range. Certainly strong rally today and it was expected also because most time good consolidations yesterday.
As no selling patterns seen yet and higher levels consolidations also being seen therefore rally continuation is still expected. Until complete follow up selling will not develop till then next down moves will not be considered. Follow up consolidation within next resistance ranges(8090-8127 and 8140-8170) and its valid break out will mean fresh strong rally after Short Term Correction completion.
Post-open Outlook(18-09-2014)
Following conclusive line was told yesterday in Technical Analysis and Market Outlook(18-09-2014):-
up moves above today highest(7990) is firstly expected
As was told yesterday all that proved 100% accurate today and highest formation at 8051.35 today after strong recovery from lower levels.
Forceful up moves today and strong indication of correction completion also but multiple resistances up to 8170 therefore further up moves may be slow because fresh consolidation is firstly required for next up moves and same view that still Nifty will be understood side ways between 7924-8170. Let next 1/2 resistances cross then correction completion will be considered because many times Bearish markets remains highly volatile also.
FOMC Announcements's reaction on Global Markets Today
Pre-open Outlook(18-09-2014)
As some Asian markets are down and Hang Seng is more than .90% weak therefore sentiment is turning dampened today morning. As Indian markets are in corrective mode and Short Term Trend is down therefore firstly negative zone trading after Red opening will be seen in Indian markets.
Both buying and selling patterns formation between 7937-7990 yesterday therefore Nifty will firstly prepare for next trend within this range and sustaining beyond this range will be confirmation of next Short Term Trend confirmation and should be firstly watched today because all the Global markets will react on FOMC announcements also today.
Technical Analysis and Market Outlook(18-09-2014)
Nifty-Intra Day Chart (17-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Selling patterns in last 1 hour between 7968-7980
3- Whole day actual trading between 7937-7990
Whole day positive zone trading with high volatility and all down moves in Bullish Falling Channel therefore strong indications of today started Pull Back Rally continuation. Next supports are as follows:-
1- 7924-7952
2- 7856-7891
As follow up supports seen within 1st Support range today and yesterday therefore this support has strengthened and firstly complete selling is required for any down moves below 7924. Next Resistances are as follows:-
1- 8022-8040
2- 8052-8060
3- 8090-8127
4- 8140-8170
As multiple resistances are lying at higher levels therefore firstly complete consolidation is also required for decisive up moves. It is clear that both higher levels good selling and lower levels equally good buying between 7924-8170 therefore Nifty will be understood side ways within this range.
Nifty will firstly prepare for next big moves in the coming sessions within 7924-8170. Let Nifty prepare for next big moves then will be updated from intraday charts patterns formations as being done for the last more than 7 years.
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1- Down moves in Bullish Falling Channel
2- Selling patterns in last 1 hour between 7968-7980
3- Whole day actual trading between 7937-7990
Conclusions from intra day chart analysis
Whole day positive zone trading with high volatility and all down moves in Bullish Falling Channel therefore strong indications of today started Pull Back Rally continuation. Next supports are as follows:-
1- 7924-7952
2- 7856-7891
As follow up supports seen within 1st Support range today and yesterday therefore this support has strengthened and firstly complete selling is required for any down moves below 7924. Next Resistances are as follows:-
1- 8022-8040
2- 8052-8060
3- 8090-8127
4- 8140-8170
As multiple resistances are lying at higher levels therefore firstly complete consolidation is also required for decisive up moves. It is clear that both higher levels good selling and lower levels equally good buying between 7924-8170 therefore Nifty will be understood side ways within this range.
Both buying and selling patterns seen between 7937-7990 today therefore mixed patterns formation will be understood and sustaining beyond this range will be confirmation of next Short Term Trend . As most time good consolidations and minor selling in last hour today therefore up moves above today highest(7990) is firstly expected
Nifty will firstly prepare for next big moves in the coming sessions within 7924-8170. Let Nifty prepare for next big moves then will be updated from intraday charts patterns formations as being done for the last more than 7 years.
Pre-closing Outlook(17-09-2014)
In continuation of previous Outlook only one change that minor selling patterns seen in last 1 hour therefore firstly sustaining beyond following ranges should be watched tomorrow for next trend confirmations:-
1- Next Support Range(7924-7952)
2- Today trading range(7937-7990)
1- Next Support Range(7924-7952)
2- Today trading range(7937-7990)
Mid-session Outlook(17-09-2014)
Although intraday volatility ans slipping from higher levels also but today intraday charts are not showing any selling patterns and lower levels higher bottom formations with down moves in Bullish Falling Channels were also seen today therefore emergence of first indication of some up moves/correction completion and confirmation will be after sustaining above next Support Range(7924-7952).
Technical Analysis and Market Outlook(17-09-2014)
Nifty-Intra Day Chart (16-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- First 3 hours selling between 8022-8040
2- Continuous down moves in last 4 hours
3- Bullish Falling Wedge formations in last hour.
4- Whole day actual trading between 7926-8040
Although deeper correction was seen and Nifty closed 1.36% down today but we were continuously telling for such down moves since 12-09-2014. Nifty closed near the lowest of the day but Bullish Falling Wedge pattern formations was also seen in last hour today therefore emergence of Pull Back rally possibility tomorrow. Next supports are as follows:-
1- 7924-7952(Nifty closed within this range today)
2- 7856-7891
As Nifty closed within above mentioned 1st support range and Bullish Falling Wedge formations also seen in last hour therefore firstly sustaining beyond this supports for:-
1- First signal of Short Term Correction completion above 7952
2- Correction continuation towards 2nd supports range below 7924
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1- First 3 hours selling between 8022-8040
2- Continuous down moves in last 4 hours
3- Bullish Falling Wedge formations in last hour.
4- Whole day actual trading between 7926-8040
Conclusions from intra day chart analysis
Although deeper correction was seen and Nifty closed 1.36% down today but we were continuously telling for such down moves since 12-09-2014. Nifty closed near the lowest of the day but Bullish Falling Wedge pattern formations was also seen in last hour today therefore emergence of Pull Back rally possibility tomorrow. Next supports are as follows:-
1- 7924-7952(Nifty closed within this range today)
2- 7856-7891
As Nifty closed within above mentioned 1st support range and Bullish Falling Wedge formations also seen in last hour therefore firstly sustaining beyond this supports for:-
1- First signal of Short Term Correction completion above 7952
2- Correction continuation towards 2nd supports range below 7924
Let some more consolidation happen and supports getting confirmation come then on going correction completion will be considered otherwise firstly Pull Back rally and after that correction continuation will be considered at this moment.
Mid-session Outlook(16-09-2014)
Although sharp fall in Indian markets and Nifty traded more than 1% down today but we are continuously telling for correction/deeper correction from 12-09 2014 and all the Outlooks on Home page of this Blog are live proofs of this fact.
Short Term Correction is on and its continuation will be expected and,let its completion confirmation come then will be updated. Next supports will be posted before the opening of tomorrow market in Technical Analysis and Market Outlook(17-09-2014).
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