Technical Analysis and Market Outlook(09-10-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Lower levels supports
3- Whole day actual trading between 7816-7869

Conclusions from intra day chart analysis 

Although gap down opening today after most depressing global cues but Indian markets out performed and remained sideways within 53 points between 7816-7869 with lower levels supports and consolidation patterns formations. Importance of 7842 was explained in almost all the previous Outlooks and Nifty closed exactly at 7,842.70 today therefore on going correction completion hopes are still alive because supports seen below it today.

As lower levels supports with consolidation patterns formations and selling patterns were not seen today therefore emergence of Pull Back rally possibility above today highest(7869).

Mid-session Outlook(08-10-2014)

Sideways trading within 44 points between 7825-7869 with lower levels consolidation and supports but not sustaining at higher levels also despite no selling patterns seen today. As Nifty is out performing Global cues and today intraday patterns are showing consolidation formations therefore emergence of Pull Back rally expectation above today highest(7869).

Pre-open Outlook(08-10-2014)

Dow Jones closed at the lowest of the day after loosing 272 points yesterday therefore sentiment turned most depressed and resultant all the Asian markets are trading in Red today. Correction continuation in Indian markets and firstly sustaining beyond 7842 should be watched today because once sustaining it below will mean Intermediate Term Trend turning down confirmations and thus opening the gate of fresh down moves towards next supports near 7540.

Technical Analysis and Market Outlook(08-10-2014)

Nifty-Intra Day Chart (07-Oct-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 7884-7970

Conclusions from intra day chart analysis 

As deeper down moves were seen in all the Global markets when Indian markets were closed in last 3 sessions and most Asian markets were trading in Red today morning therefore sentiment was depressed and resultant gap down opening was seen in Indian markets. Sentiment turned dampened also after deep Red opening of all European markets and more than .75% down its trading as well as Dow's Futures slipping more than 90 points down at 02:15 PM today. As whole day depressing mood therefore continuous down moves with closing seen near the lowest of the day seen today.  

Although such Bearish mood today but today down moves are showing  Bullish Falling Channel patterns therefore emergence of some up moves and minimum Pull Back rally possibility. As consolidation patterns were seen on 1st Oct 2014 also therefore fresh up moves are still expected in this week. 

Correction is on Global mood is disturbed therefore firstly sustaining beyond next support(7842) should be watched tomorrow for the confirmation:-

1- First signal of on going correction completion above 7842
2- Deeper correction continuation below 7842.

Pre-closing Outlook(07-10-2014)

Sentiment was already depressed after last 3 sessions selling in most Global markets and it was fuelled by gap down opening of all European markets as well as all the European markets are mow trading more than .75% down.

Although consolidation was seen firstly today and on 1st Oct also but Indian markets are unable to sustain at higher levels after melting all Global markets. Now last hope for the Bulls is at 7842 and sustaining it beyond should be watched for the confirmation of on going correction completion/deeper continuation.

Mid-session Outlook(07-10-2014)

Correction continuation from 08-09-2014 with recent bottom formations at 7842 on 26-09-2014 as well as last 4 sessions sideways market between 7842-8030. As deeper down moves were seen in all the Global markets when Indian markets were closed in last 3 sessions therefore continuous down moves after gap down opening today.

Although whole day down moves today and negative zone trading since opening as well but today intraday patterns are showing consolidation formations. As  whole day Bullish Falling Channel pattern formation was seen on 01-10-2014 also therefore finally up moves are expected in this week despite Nifty is now trading 57 points down.

Post-open Outlook(07-10-2014)

As all the Asian markets are trading in Red today and deeper down moves were seen in all the Global markets when Indian markets were closed in last 3 sessions therefore sentiment is depressed today morning and gap down opening will be seen. Good  consolidation and supports was seen above 7842 was seen on and after 26/09/2014 therefore fresh up moves are still expected in the coming week. 

Up moves expectation after Long Holidays in Next Week

Technical Analysis and Market Outlook

(07-10-2014)

Nifty-Intra Day Chart (01-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 7936-7976

Conclusions from intra day chart analysis 

Correction continuation from 08-09-2014 with recent bottom formations at 7842 on 26-09-2014 as well as last 4 sessions sideways market between 7842-8030. As good consolidation and supports at lower levels and equally good selling at higher levels also in last 4 sessions therefore very Short Term Trend will be understood sideways between 7842-8030.

Although Nifty traded most time in negative zone and also closed in Red on 01-10-2014 but whole day Bullish Falling Channel pattern formation seen therefore emergence of up moves expectations after long holidays in next week and correction completion possibility as well despite SGX Nifty traded 154 points down at 7828 on 2nd Oct 2014 

Pre-closing Outlook(01-10-2014)

Although going to close near the lower levels of today but same view of up moves for next week as has already been updated in previous Post-open Outlook today.

Post-open Outlook(01-10-2014)

Although most time negative zone trading since opening today and now trading also in Red at this moment but today intraday trading patterns are showing consolidation patterns formations therefore emergence of up moves expectations after long holidays in next week and correction completion possibility as well.

Technical Analysis and Market Outlook(01-10-2014)

Nifty-Intra Day Chart (Sep 26 to Sep 30,2014):-

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Technical Patterns and Formations in last 3 Sessions intraday charts

1- Consolidation between 7842-7910 on 26-09-2014 
2- Selling between 7975-7991 on 29-09-2014
3- Selling between 8008-8030 on 30-09-2014
4- Supports between 7924-7966 on 30-09-2014
5- 3 Sessions actual trading between 7842-8030 

Conclusions from 3 Sessions intra day chart analysis 

Short Term Correction continuation for the last 16 sessions from 8180 and last 3 sessions sideways market between 7842-8030 after correction's lowest formation at 7842 on 26-09-2014. As good consolidation and supports at lower levels and equally good selling at higher levels also in last 3 sessions therefore very Short Term Trend is sideways between 7842-8030 and Nifty is not technically prepared for any side decisive moves as well as will firstly trade and prepare for next trend within this range.

As not much selling seen above 8030 therefore once valid break out of 8030 will mean fresh rally after correction completion and sustaining below 7842 will mean breaking down confirmation of 55 EMA(today at 7664),resultant steep fall after Intermediate Term Trend turning down confirmation.

Only sustaining beyond 7842-8030 should be firstly watched in the coming sessions for next trend and big decisive moves confirmations.

Mid-session Outlook(30-09-2014)

Following conclusive line was today in Post-open Outlook:-

RBI Credit policy will be announced at 11:00 AM today and market will be volatile also,sustaining beyond 7944-7991 will be next decisive move confirmation.

Certainly volatile market and Nifty could not sustain at higher levels after follow up selling just above yesterday selling range and sustaining below 7944 will be deeper correction confirmation because consolidation was seen just above it today.

Mid-session Outlook(30-09-2014)

Although rates unchanged in RBI Credit Policy today but good consolidations today therefore emergence of correction completion expectations.

Post-open Outlook(30-09-2014)

As selling yesterday therefore it was updated yesterday in Mid-session Outlook(29-09-2014) and firstly negative zone trading seen immediately after opening today but minor support also seen between 7944-7952 today. Good selling between between 7975-7991 yesterday and until Nifty will not sustain above 7991 after complete consolidation till then next up move will not be considered.

RBI Credit policy will be announced at 11:00 AM today and market will be volatile also. It should be kept in mind that sustaining beyond 7944-7991 will be next decisive moves confirmation.

Technical Analysis and Market Outlook(30-09-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formations between 7975-7991 
2- Whole day actual trading between 7935-7991

Conclusions from intra day chart analysis 

Whole day sideways trading within 56 points and some recovery from lower levels in last half hour also but good selling at higher levels today therefore Nifty will be understood sideways within last 2 sessions range(7842-7993) because both selling and consolidation between 7842-7991 seen between these 2 ranges.

Expected that Nifty will firstly prepare for next trend within 7842-7993 in the coming sessions and valid break out of this range will be on going correction continuation/completion. As good selling today therefore firstly slipping towards above mentioned next support will be seen tomorrow.

Mid-session Outlook(29-09-2014)

Selling patterns formations between 7975-7991 in sideways market today.

Pre-open Outlook(29-09-2014)

As sentiment turned weak because most Asian markets are trading in Red today morning therefore negative opening will be seen in Indian markets but good supports between 7842-7910 and until complete selling will not develop till then Nifty will not sustain below 7842. It should be kept in mind follow up consolidations and finally sustaining above 7842 will mean fresh rally after correction completion last Friday.

Technical Analysis and Market Outlook(29-09-2014)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7842-7910 
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7842-7993

Conclusions from intra day chart analysis 

As good consolidation at  lower levels with down moves in Bullish Falling Channel also therefore until Nifty will not sustain below day's lowest(7842) after complete selling till then next down trend will not be considered and fresh up moves are expected in the beginning of next week. It should be kept in mind that resistances at higher levels are not much strong and possibility of new high formations after correction completion at day's lowest(7842) has turned alive on 26-09-2014.

Pre-closing Outlook(26-09-2014

As some positive signals emerged therefore it was updated within first hour today in Post-open Outlook(26-09-2014) and following lines were told:-

1- Although depressing Global cues but Indian markets outperformed
2- Certainly it ia a positive signal and confirmation of sustaining above 7918 will mean Pull Back rally

Strong recovery from lower levels seen after good consolidation today and firstly up moves continuation is expected in the beginning of next week.

Post-open Outlook(26-09-2014)

Although depressing Global cues but Indian markets outperformed and recovered from lower levels after weak opening as well as now trading in Green with more than .25% gains. Certainly it ia a positive signal and confirmation of sustaining above 7918 will mean Pull Back rally but on going correction completion will be considered after complete consolidations.

Technical Analysis and Market Outlook(26-09-2014)

Nifty-Intra Day Chart (25-Sep-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Minor selling
3- Whole day actual trading between 7878-8019

Conclusions from intra day chart analysis 

21 Sessions side ways market between 7918-8170 and yesterday closing just below it but as such big selling patterns were not seen in last 3 sessions and on the other hand consolidation patterns were also seen therefore correction completion possibility near about yesterday lowest(7877) and until Nifty will not sustain below 21 previous sessions lowest(7918) till then big fall will not be seen.

US markets are trading now more than 1.45 down after huge fall in European markets therefore sentiment may be subdued today morning and most likely all the Asian markets may trade will huge fall and resultant Indian markets may open also in Deep Red today. Sustaining below 7918 will confirm next big trend within next 2/3 sessions and should be watched now.