Bulls & Bears Semi Final between 8470.50-8640 in Next Week

Technical Analysis,Research & Weekly Outlook

(Mar 23 to Mar 27,2015)

Nifty-Intra Day Chart (20-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- All Down moves in Bullish Falling Channel
2- Whole day actual trading between 8553-8627

Conclusions from intra day chart analysis 

Although whole day down moves in a complete negative zone trading day and 0.74 down closing but as selling patterns formations were not seen but on the contrary Down moves were seen in Bullish Falling Channel which is a consolidation pattern therefore firstly Bounce Back possibility in the beginning of next week.

Long Term Trend is up, Intermediate and Short Term Trends turned down despite most positive following news:-

1- Market Friendly Union Budget on 28-02-2015.
2- RBI rates cut on 04-03-2015.  
3- Insurance Laws Amendment Bill, 2015 was passed by the Rajya Sabha on 13-03-2015.
4- Positive news of rates hike delaying in FOMC on 18-03-2015 night.

As selling developed after such encouraging positive news therefore following resistances have developed at higher levels:- 

1- 8738-8788
2- 8805-8825
3- 8920-8943
4- 9023-9096

For EOD Charts analysis Just click following previous Week Analysis Topic:-

Sustaining beyond 8672 will decide the fate of on going Correction

Following crucial conclusions were updated in above topic:-

1- Bearish Head and Shoulders pattern formations in last 20 sessions and Neckline at 8672
2- Corrective Sub Wave-2 is on and expected that technically it should complete near about or above 8543 and impulsive Sub Wave-3 should start for fresh up moves above the top of Sub Wave-1(9119.20).

Corrective Wave-4 of Wave-v of Wave-3 completed at 8470.50 on 10-02-2015 and Impulsive Sub Wave-1 of Wave-5 of Wave-v of Wave-3 started which completed at 9119.20 on 04-03-2015 and Corrective Sub Wave-2 started and now it is in continuation. 

Last 2 supports of Impulsive Sub Wave-1 are as follows:- 

1- 8590-8640(Broken down)
2- 8484-8580

Although 1st support was broken down and closing below it on 20-03-2015 but intraday consolidation patterns were seen same day therefore minor signal of correction completion because fresh consolidation was seen in last support ranges of Impulsive Sub Wave-1. As positive news based selling at higher levels therefore follow up complete consolidation is firstly required for Corrective Sub Wave-2 completion and  Impulsive Sub Wave-3 beginning. Until Nifty will not slip below 8470.50 till then mentioned Waves structure will maintain and possibility of Sub Wave-3 formations will remain alive for fresh up moves above the top of Sub Wave-1(9119.20).

Wave-4 of Wave-v of Wave-3 started from 8470.50 on 10-02-2015 and its 0.886%(8543.99) retracement has been almost completed in previous week. As supports between 8484-8640 and intraday consolidation was also  seen last Friday therefore firstly Nifty will trade and prepare for next big moves between 8470.50-8640 for following decisive big moves:-

1- Once slipping below 8470.50 will mean Sharp fall
2- Sustaining above 8640 after complete consolidation will mean first strong signal of Sub Wave-3 formation towards new life time high above 9119.20

Semi Final between Bulls & Bears will be played between 8470.50-8640 in Next week and its break out will decide their big victory.

हिन्दू नव वर्ष "विक्रम संवत 2072" की आप सभी को हार्दिक शुभकामनाएँ !

Wishing you all Happy Hindu New Year
"Vikram Samvat 2072"

Sustaining beyond 8612 will be Next Big Moves Confirmation

Technical Analysis and Market Outlook

(20-03-2015)

Nifty-Intra Day Chart (19-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 5 Hours selling between 8738-8788(Immediate Resistances)
2- 123 Points fall in last hours
3- Whole day actual trading between 8615-8788

Conclusions from intra day chart analysis 

More than 100 points sharp up but 5 Hours selling on the back of encouraging news from FOMC therefore Nifty cracking down 123 points in last hours. As good selling between 8738-8788 therefore this range will be strong resistance and until complete consolidation will not happen till then Nifty will not sustain above 8788.

As very good consolidation between 8612-8648 on 16-03-2015 therefore this range is most crucial for next big moves determination. Once sustaining below 8612 will mean huge fall and firstly sustaining it beyond should be firstly watched tomorrow because complete consolidation is firstly required for sustaining above today selling range highest(8788)

20 Sessions lowest is at 8612 and today closing is just above it after intraday higher levels good selling today therefore high possibility of some more down moves but sustaining beyond 8612 should be firstly watched in the coming sessions because that will be next big moves confirmation.

Only & Only we told for "post FOMC Rally" again and again in whole India. Nifty traded 100 points up in first hour today and we booked profit at 09:18 AM today?

Live Proofs 100% Accurate Analysis & Profitable calls

When Nifty was going to close near the lower levels of the day yesterday then we told following line yesterday at 03:28 PM in Pre-closing Outlook(18-03-2015):-

rally continuation is expected tomorrow despite whatsoever outcome from FOMC today and market going to close near the lowest of the day today.

We told following line yesterday at 06:17 PM in "Rally continuation despite Whatsoever Outcome from FOMC":-

"rally continuation is expected tomorrow despite whatsoever outcome from FOMC today Midnight"

As was told yesterday 100% same happened today and Nifty traded 100 points up in first 27 minutes today.

Who told in whole India for post FOMC Rally except us?

We not only posted Outlooks but also send following trading SMS to our paid clients and Free Trial interested persons:-

SMS No 1- At 03:21 PM on 18-03-2015-NIFTY-Mar CE(8700)-Buy-Positional-SL-74 & TGT-124-CMP-92 NIFTY-Mar Fut-Buy-Positional-SL-8674 & TGT-8764-CMP-8703(Lalit39)
SMS No 2- At 09:18 AM on 19-03-2015-NIFTY Mar F&O(Bought on 18-03-2015)-Targets achieved,Cover and book profit immediately in both CE & Fut-CMP Fut-8773CMP(8700)CE-120(Lalit39)

 As we always talk with those proofs which no one can deny therefore updating following live proofs of above mentioned SMS pictures which were sent:-

1- SMS No 1 and 2 Picture from 1st Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

2- SMS No 1 and 2 Picture from 2nd Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

If unable to read  text in above picture then:-

1- Firstly click on above SMS picture and enlarge it.

2- If unable to read then Save picture on yours desktop and after that  

3- Open and again enlarge the picture in Windows Picture Viewer.

Only 2 following information are deleted in above SMS Picture due to official secrecy rules:-

1- Numbers of sent SMS.

2- SMS sending Website name.

As we always send 2 SMS for each and every trading call and  2 SMS for each its covering therefore Wherever Our clients are moving they need not to watch market and only have to keep Mobile in their pocket because in any worst condition also minimum 1 SMS will be delivered and our clients will be able to trade and cover without any delay.

We always talk with only those proofs which no one can deny therefore live proofs have been updated and even though if anyone has any doubt then may call us and then he will be given the Mobile Numbers of those who enjoyed profits from any part in India.

Rally continuation despite Whatsoever Outcome from FOMC

Technical Analysis and Market Outlook

(19-03-2015)

Nifty-Intra Day Chart (18-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 8680-8700
2- Consolidation Patterns between 8664-8684
3- Down moves in Bullish Falling Channel 
4- Whole day actual trading between 8664-8747

Conclusions from intra day chart analysis 

Although Nifty closed near the highest of the day yesterday but we were not Bullish for today market and told following lines in "Fate of Sub Wave-3 in the hands of FOMC & Land acquisition Bill"

1- very short term/intraday correction is due for tomorrow
2- Nifty may turn sideways tomorrow because Nifty has to prepare

As was told 100% same happened today and correction was seen as well as Nifty closed 37 points down today. 

Following line was told today at 10:02 AM in Post-open Outlook(18-03-2015):-

Immediate supports and resistances are between 8630-8760 and Nifty will remain sideways within this range today as well as prepare for next decisive moves

Nifty traded whole day today within mentioned trading range(8630-8760) and prepared for next decisive moves. As consolidation within sideways ranges and consolidation patterns of Down moves in Bullish Falling Channel therefore it seems that Nifty prepared for up moves today.

Although Indian markets closed near the lowest of the day today but good consolidation and lower levels supports in previous 2 sessions and follow up consolidations was seen today today also therefore rally continuation is expected tomorrow despite whatsoever outcome from FOMC today Midnight.

Pre-closing Outlook(18-03-2015)

As good consolidation and lower levels supports in previous 2 sessions and follow up consolidations also seen today therefore rally continuation is expected tomorrow despite whatsoever outcome from FOMC today and market going to close near the lowest of the day today.

Post-open Outlook(18-03-2015)

Following line was told  for today market in "Fate of Sub Wave-3 in the hands of FOMC & Land acquisition Bill":-

1- very short term/intraday correction is due for tomorrow
2- Nifty may turn sideways tomorrow because Nifty has to prepare

As was told 100% same happened today and Nifty has traded more than 40 points down in first hour today.

Immediate supports and resistances are between 8630-8760 and Nifty will remain sideways within this range today as well as prepare for next decisive moves.

Fate of Sub Wave-3 in the hands of FOMC & Land acquisition Bill

Technical Analysis and Market Outlook

(18-03-2015)

Nifty-Intra Day Chart (17-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8667-8684
2- Consolidation between 8630-8656
3- Minor selling between 8713-8735
4- Complete intraday correction
5- Sharp Recovery in last Hour
6- Whole day actual trading between 8630-8742

Conclusions from intra day chart analysis 

Although Nifty closed in Red at the lowest of on going correction yesterday but we were not Bearish therefore we told following lines yesterday in Pre-open Outlook(17-03-2015):-

1- intraday charts are showing good consolidation patterns formations
2- today lowest will work as good Support
3- high  possibility of Bounce back tomorrow
4- Once sustaining above 8672 will be first indication of rally after correction completion

As was told yesterday 100% same happened today and Bounced Back was seen as well as Nifty closed 90 Points up today. 

Highly volatile day today with Nifty closing much above the neckline(8672) of 20 Sessions Bearish Head and Shoulders pattern at 8723.30 today and if Nifty sustain above 8672 then Bearish Head and Shoulders pattern will be understood whipsaw and will be first indication of rally after correction completion.  

Sub Wave-2 of Wave-5 of Wave-v of Wave-3 continuation with recent bottom formation at 8612 on 16-03-2015. As very good consolidation was seen at lower levels of on going correction between 8612-8648 on 16-03-2015 therefore emergence of Sub Wave-3 beginning possibility and its formation confirmation will mean new life time high formations above the top of Sub Wave-1(9119.20).  

Next resistances of Nifty are as follows:-

1- 8747-8760
2- 8805-8825
3- 8920-8943
4- 9045-9081

As resistances are just above today closing and highest therefore follow up fresh consolidation with sustaining above 8760 is firstly required for next strong indication of fresh rally after correction completion because 21 Day EMA is also at 8760 and Nifty got strong supports near 55 Day EMA on 16-03-2015.

As very Short Term indicators are Over bough after strong recovery in last hours today therefore very short term/intraday correction is due for tomorrow. Resistances are above today closing and supports below today closing therefore Nifty may turn sideways tomorrow because Nifty has to prepare also for following news also:-

1- FOMC will declare its views on Rates hike
2- Govt stand on Land acquisition Bill in Rajya Sabha( If Govt opts for Bill passing through joint session of Parliament then will be good news for market and if goes for select committee then will be a jolt for market.

Sub Wave-3 beginning indications and both above news outcome will decide its fate. Let Nifty prepare for next big moves then will firstly understood from tomorrow intraday charts patterns formations and will be updated accordingly.

As high amount of applications and many Bogus,Fake and Duplicate applications also therefore Free Trial will be given to only genuinely interested persons. Old Free Trial Forms are being scrutalnised and Trial will be started after verifications

Pre-open Outlook(17-03-2015)

As today intraday charts are showing good consolidation patterns formations therefore today lowest will work as good Support and high  possibility of Bounce back tomorrow. Once sustaining above 8672 will be first indication of rally after correction completion and also should be watched in the coming sessions

Extremely busy today therefore detailed Outlook is not being updated for 17-03-2015

As high amount of applications and many bogus applications also therefore Free Trial has been stopped for today and will be restarted after addressing genuine applications
&
if you will call us or send Email then Free Trial will be given from tomorrow

Sustaining beyond 8672 will decide the fate of on going Correction

Technical Analysis,Research & Weekly Outlook

(Mar 16 to Mar 20,2015)

Nifty-Intra Day Chart (13-Mar-2015):-

Technical Patterns and Formations in today intraday charts

1- Continuous first hour slipping after strong opening
2- Selling between 8726-8761(Immediate Resistances)
3- Follow up selling between 8672-8700(Immediate Resistances)
4- Consolidation patterns at lower levels in last hours
4- Whole day actual trading between 8632-8869

Conclusions from intra day chart analysis 

Following most positive news before market opening on 13-03-2015:-

The insurance bill was passed by the Rajya Sabha on 12-03-2015, paving way for foreign companies to raise their stake in domestic insurance companies to 49 per cent. The passage of the bill is being hailed as a big positive for the country as it increases India's visibility among foreign investors.

Although above most positive news for which country was waiting from 2008 but Nifty closed 128 points down after slipping 237 points because sentiment turned highly enthusiastic after Insurance Bill passing in Rajya Sabha on 12-03-2015 therefore profit booking started immediately after opening on 13-03-2015 and Nifty could not sustain at higher levels.

Although 4 hours selling in sideways market  and emergence of some more down moves possibilities but consolidation patterns formations at lower levels in last hours also therefore if follow up consolidation develops then fresh up moves will  be seen but until complete consolidation will not happen till then fresh decisive up moves not be seen. 

Nifty-Intra Day Chart (Mar 01 & Mar 01,2015)

Just click on chart for its enlarged view

Technical Patterns and Formations in last 20 Sessions intraday charts

1- Bearish Head and Shoulders pattern
2- Neckline at 8672 broken down after 4 hours sideways market selling just above it on 13-03-2015

 Conclusions from 20 Sessions intra day chart analysis 

Bearish Head and Shoulders pattern formations in last 20 sessions and Neckline at 8672 broken down on 13-03-2015 therefore 8672 will be first resistance range. As 4 hours sideways market selling just above 8672 between 8672-8761 therefore complete consolidation is firstly required for fresh decisive up moves above this range
Nifty-EOD Chart (13-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-iv of Wave-3 completion at 7961.35 on 17-12-2014 and beginning of Wave-1 of Wave-v of Wave-3)
2- Wave-1 of Wave-v of Wave-3(8445.60 on 05-01-2015) 
3- Wave-2 of Wave-v of Wave-3(8065.45 on 07-01-2015)
4- Wave-3 of Wave-v of Wave-3(8996.60 on 30-01-2015)
5- Wave-4 of Wave-v of Wave-3(8470.50 on 10-02-2015)
6- Sub Wave-1 of Wave-5 of Wave-v of Wave-3 completion at 9119.20 on 04-03-2015 
7- Wave-a(8913.45)
8- Wave-b(8669.45)
9- Sub Wave-2 of Wave-5 of Wave-v of Wave-3 continuation with recent bottom formation at 8631.75 on 13-03-2015

Conclusions from EOD chart analysis 

Wave-5 of Wave-v of Wave-3 is extended because Nifty moves below 8669.45 and Waves have been recounted. Now Sub Wave-2 of Wave-5 of Wave-v of Wave-3 continuation and its retracement levels are as follows:-

[0.130] 9,034.63(Retracement completed)
[0.236] 8,965.84(Retracement completed)
[0.270] 8,943.77(Retracement completed)
[0.382] 8,871.08(Retracement completed)
[0.500] 8,794.50(Retracement completed)
[0.618] 8,717.92(Retracement completed)
[0.707] 8,660.16(Retracement completed)
[0.764] 8,623.16
[0.786] 8,608.89
[0.886] 8,543.99

Now corrective Sub Wave-2 continuation and as per retracement levels it should complete near about or above 8,543.99

Conclusions (After Putting All Studies Together)

Corrective Sub Wave-2 is on and expected that technically it should complete near about or above 8543 and impulsive Sub Wave-3 should start for fresh up moves above the top of Sub Wave-1(9119.20). As Bearish Head and Shoulders pattern formations in last 20 sessions and Neckline at 8672 was broken down on 13-03-2015 therefore firstly sustaining it beyond should be watched in next week for:-

1- Correction completion above 8672 after fresh consolidation.   
2- Correction continuation below 8672 after follow up selling.

Live Proofs 100% Accurate Analysis & Profitable calls

Following lines were told yesterday in 'Pull Back Rally continuation':-

A- Pull Back Rally continuation is expected
B- following resistances are lying above today highest:-
1- 8805-8825
2- 8920-8943
C- Once sustaining above the top of 1st resistance will mean high possibility of fast up moves of almost 95 points

As was told 100% same happened today and Pull Back Rally continuation was seen as well as Nifty moved up 73 points immediately after opening today with highest formation at 8849.75. Fast up moves of almost 95 points after sustaining above the top of 1st resistance(8825) was told but Nifty could not sustain above it and sharp fall was seen today. 

As Pull Back Rally continuation and our Nifty Mar Fut target was achieved immediately after opening today therefore we sent Profit Booking SMS to our Paid Clients and Free Trial registered persons. Trading Call and its covering message with its live proofs are as follows:-

SMS No 1- At 03:18 PM on 12-03-2015-NIFTY-Mar Fut-Buy-Positional-SL-8784 & TGT-8854-CMP-8810(Lalit39) 
SMS No 2- At 09:15 AM on 13-03-2015-NIFTY Mar Fut(Bought on 12-03-2015)--Target achieved , Cover and book profit immediately-CMP-8871(Lalit39)

We always send 2 SMS for each and every call from those fastest websites which deliver SMS within 15 seconds. As we always talk with those proofs which no one can deny therefore updating following live proofs of above mentioned SMS pictures which were sent to our paid clients:-

1- SMS No 1 and 2 Picture from 1st Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

2- SMS No 1 and 2 Picture from 1st Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

If unable to read  text in above picture then:-

1- Firstly click on above SMS picture and enlarge it.

2- If unable to read then Save picture on yours desktop and after that  

3- Open and again enlarge the picture in Windows Picture Viewer.

Only 2 following information are deleted in above SMS Picture due to official secrecy rules:-

1- Numbers of sent SMS.

2- SMS sending Website name.

As we always send 2 SMS for each and every trading call and  2 SMS for each its covering therefore Wherever Our clients are moving they need not to watch market and only have to keep Mobile in their pocket because in any worst condition also minimum 1 SMS will be delivered and our clients will be able to trade and cover without any delay.

We always talk with only those proofs which no one can deny therefore live proofs have been updated and even though if anyone has any doubt then may call us and then he will be given the Mobile Numbers of those who enjoyed profits from any part in India.

Pull Back Rally continuation

Technical Analysis and Market Outlook

(13-03-2015)

Nifty-Intra Day Chart (12-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 8744-8760 
2- Whole day actual trading between 8733-9797

Conclusions from intra day chart analysis 

Although Nifty closed in Red at the lowest of the day yesterday but we were Bullish therefore we told following conclusive line at 05:38 PM in 'Pull Back Rally Expectations':-

Pull Back Rally will be seen in the coming sessions despite today closing near the lowest of the day.

As was told 100% same happened today and  Pull Back Rally with Nifty closing 76.05 points up was seen today

As consolidation patterns were seen more than 4 hours today therefore Pull Back Rally continuation is expected in the coming sessions but following resistances are lying above today highest:-

1- 8805-8825
2- 8920-8943

Once sustaining above the top of 1st resistance will mean high possibility of fast up moves of almost 95 points and should be firstly watched in the coming sessions.

Although we told for Pull Back Rally after the market yesterday but we turned Bullish therefore we gave following Nifty F&O Buying calls to our Paid Clients and Free Trial registered persons:-

SMS No 1- At 02:54 PM on 11-03-2015-NIFTY-Mar CE(8900)-Buy-Positional-SL-34 & TGT-79-CMP-55 NIFTY-Mar Fut-Buy-Positional-SL-8742 & TGT-8814-CMP-8775(Lalit39) 
SMS No 2- At 03:15 PM on 11-03-2015-NIFTY Mar F&O(Bought on 11-03-2015)-Market is volatile but will be finally up therefore just hold and cover after my covereing SMS(Lalit39) 
SMS No 3- At 09:27 AM on 12-03-2015-NIFTY Mar F&O(Bought on 11-03-2015)-Target achieved in Fut. Cover and book profit immediately in both Fut and CE-CMP(Mar Fut)-8821 & CMP(8900)-66(Lalit39) 

We always send 2 SMS for each and every call from those fastest websites which deliver SMS within 15 seconds. As we always talk with those proofs which no one can deny therefore updating following live proofs of above mentioned SMS pictures which were sent to our paid clients:-

1- SMS No 1,2 and 3 Picture from 1st Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

2- SMS No 1,2 and 3 Picture from 2nd Website(Trading and covering SMS):-

Just click on above picture for enlarged view of those SMS which were sent to paid clients

If unable to read  text in above picture then:-

1- Firstly click on above SMS picture and enlarge it.
2- If unable to read then Save picture on yours desktop and after that  
3- Open and again enlarge the picture in Windows Picture Viewer.

Only 2 following information are deleted in above SMS Picture due to official secrecy rules:-

1- Numbers of sent SMS.
2- SMS sending Website name.

As we always send 2 SMS for each and every trading call and  2 SMS for each its covering therefore Wherever Our clients are moving they need not to watch market and only have to keep Mobile in their pocket because in any worst condition also minimum 1 SMS will be delivered and our clients will be able to trade and cover without any delay.

We always talk with only those proofs which no one can deny therefore live proofs have been updated and even though if anyone has any doubt then may call us and then he will be given the Mobile Numbers of those who enjoyed profits from any part in India.

Pull Back Rally Expectations

Technical Analysis and Market Outlook

(12-03-2015)

Nifty-Intra Day Chart (11-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day volatility with Down moves in Bullish Falling Channel
2- Intraday corrections
3- Whole day actual trading between 8682-8755

Conclusions from intra day chart analysis 

Although whole day high volatility but following consolidation patterns were seen today:-

1- Down moves were in Bullish Falling Channel
2- Sufficient intraday corrections were also seen

Following lines were told yesterday in "8669.45 will decide Waves structure of Nifty" ;-

Firstly slipping below the lowest of Sub Wave-2(8669.45) should be watched tomorrow and if it happens then waves structure of Nifty will be at stake as well as waves will be firstly recounted. 

As Nifty could not slipped below 8669.45 and today lowest is at 8,699.95 as well as whole day consolidation patterns were seen in volatile market today therefore expected that Pull Back Rally will be seen in the coming sessions despite today closing near the lowest of the day.

8669.45 will decide Waves structure of Nifty

Technical Analysis and Market Outlook

(11-03-2015)

Nifty-EOD Chart (10-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-3 of Wave-v of Wave-3 completion at 8996.60 on 30-01-2015
2- Wave-4 of Wave-v of Wave-3 completion at 8470.50 on 10-02-2015
3- Sub Wave-1 of Wave-5 of Wave-v of Wave-3 completion at 8913.45 on 19-02-2015 
4- Sub Wave-2 of Wave-5 of Wave-v of Wave-3 completion at 8669.45 on 26-02-2015 
5- Sub Wave-3 of Wave-5 of Wave-v of Wave-3 completion at 9119.20 on 04-03-2015 
6- Sub Wave-4 of Wave-5 of Wave-v of Wave-3 continuation with recent bottom formation at 8677.35 on 10-03-2015

Conclusions from EOD chart analysis 

Correction of Sub Wave-4 continuation and impulsive Sub Wave-5 is still left for up moves above the top of Sub Wave-3(9119.20) because corrective Sub Wave-4(today lowest at 8677.35) has not slipped below the lowest of Sub Wave-2(8669.45). Nifty should not slip below 8669.45 in on going Sub Wave-4 continuation because as per Eliot Wave Theory:- 

Wave-4 should not retrace the entire movement of Wave-3 of the same degree ie must not slip the bottom of Wave-2 

Lowest of Sub Wave-2(8669.45) should be firstly watched and once slipping below it will recounting of whole waves structure from that up move which started from 7961.35 on 17-12-2014

Although new life time high formations after good Budget and RBI rates cut but correction also beginning after crashing like US markets and confusion on Land Acquisiton Bill. As Dow jones is trading more than 250 points down at this moment and and most European markets also closed more than 1% down today therefore if such weakness remain in Asian markets tomorrow then negative zone trading may also be seen Indian markets tomorrow.

Firstly slipping below the lowest of Sub Wave-2(8669.45) should be watched tomorrow and if it happens then waves structure of Nifty will be at stake as well as waves will be firstly recounted. Let it happen then whole waves structure will be reviewed and will be updated accordingly.  

8727-8795 will decide next Short Term Trend

Technical Analysis and Market Outlook

(10-03-2015)

Nifty-Intra Day Chart (09-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 8802-8845(Immediate Resistances)
2- Consolidation between 8757-8795
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 8741-8845

Conclusions from intra day chart analysis 

As following negative news flow and sentiment turned completely depressed today morning therefore Nifty slipped more than 100 points within first 3 minutes after weak opening:-

1- Dow's 278 points negative closing last Friday.
2- All the Asian markets were in Red today morning.
3- Emergence of rates hike risk in USA.
4- Union Govt agrees to dilute and amend key legistaions in Land Acquisiton Bill.
5- Trouble for BJP and Modi Govt after the release of Masrat Alam and now J&K CM is trying to ensure the release of Ashiq Hussain Faktoo also.

Almost 4 hours sideways trading between 8802-8845 with selling patterns and slipping below 8802 but lower levels consolidation with "Down moves in Bullish Falling Channel" were also seen in last hours therefore emergence of first signal of Pull Back Rally. As selling was also seen today therefore firstly sustaining above 8845 should be watched for next decisive up moves confirmations. 

As consolidations patterns formations in last 2 hours and if finally Nifty sustains above 8727 in the coming 1/2 sessions after follow up consolidations then decisive up moves will be seen towards following resistances:-

1- 8925-8950
2- 9023-9096

Short Term trend turned down after almost double century Nifty fall today but emergence of  Pull Back Rally expectations after lower levels consolidation patterns formations in last 2 hours therefore firstly sustaining beyond 8727-8795 should be watched in the coming couple of sessions for next Short Term Trend confirmations.

Pre-open Outlook(09-03-2015)

As all the Asian markets are in Red after Dow's 278 points negative closing last Friday therefore sentiment is completely depressed today morning and resultant weaker opening will be seen in Indian markets. Lower levels good consolidation between 8850-8881 and 8893-8922 on 05-03-2015 and following supports are also lying at lower levels as well as impulsive Sub Wave-5 is still left for fresh up moves above 9119.20 therefore expected that finally decisive up moves will be seen after follow up consolidation in the coming 1/2 sessions:-

1- Supports between 8752-8773 
2- Supports between 8727-8758 
3- Supports between 8737-8787 

Next target of Nifty at 9299.10

Technical Analysis,Research & Weekly Outlook

(Mar 09 to Mar 13,2015)

Nifty-EOD Chart (05-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-iv of Wave-3 completion at 7961.35 on 17-12-2014 and beginning of Wave-1 of Wave-v of Wave-3)
2- Wave-1 of Wave-v of Wave-3 completion at 8445.60 on 05-01-2015 
3- Wave-2 of Wave-v of Wave-3 completion at 8065.45 on 07-01-2015
4- Wave-3 of Wave-v of Wave-3 completion at 8996.60 on 30-01-2015
5- Wave-4 of Wave-v of Wave-3 completion at 8470.50 on 10-02-2015
6- Sub Wave-1 of Wave-5 of Wave-v of Wave-3 completion at 8913.45 on 19-02-2015 
7- Sub Wave-2 of Wave-5 of Wave-v of Wave-3 completion at 8669.45 on 26-02-2015 
8- Sub Wave-3 of Wave-5 of Wave-v of Wave-3 completion at 9119.20 on 04-03-2015 
9- Sub Wave-4 of Wave-5 of Wave-v of Wave-3 continuation with recent bottom formation at 8849.35 on 05-03-2015

Bullish break out of 'Pennant Pattern'

Nifty-EOD Chart (05-Mar-2015):-

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Technical Patterns and Formations in EOD charts

1- 'Pennant Pattern'formations in last 20 Sessions Correction
2- 'Pennant Pattern'break out on 28-02-2015
3- Support at the upper line of 'Pennant' on 05-03-2015

Nifty-Intra Day Chart (05-Mar-2015):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8850-8881(Immediate Supports)
2- Consolidation between 8893-8922(Immediate Supports)
3- Whole day actual trading between 8850-8957

Conclusions from intra day chart analysis 

Although sharp fall on 04-03-2015 but  whole day consolidation patterns were also seen also on 04-03-2015 and as such selling patterns were not visible therefore emergence of first strong signal fresh up moves after 1 day correction completion.

Conclusions (After Putting All Studies Together)

All trends are up and strong Bullish rally continuation with 20 sessions 'Pennant Pattern' formations between 30-01-2015 and 27-02-2015 which was broken out on 28-02-2015. As high expectations from Budget and sentiment remained boiling as well as RBI rates cut was also seen in previous week therefore high volatility was seen but Nifty could not slip below the upper line of 'Pennant' and support got exactly on it on on 05-03-2015 therefore rally continuation hopes are alive.  

Corrective Sub Wave-4 of Wave-5 of Wave-v of Wave-3 started after RBI rates cut on 04-03-2015 but good consolidation was also seen on 05-03-2015 therefore emergence of correction completion signal and if Nifty sustain above the bottom of 05-03-2015 then fresh rally will be seen after Sub Wave-5 confirmation. next possible targets of Sub Wave-5 will be as follows:-

Sub Wave-1 gained 442.95 points(8913.45-8470.50)
Sub Wave-3 gained 449.75 points(9119.20-8669.45)

Sub Wave-3 gained almost 100% of Sub Wave-1(means 449.75 points) and if Sub Wave-5 also gains 100% of Wave-3 after Wave-4 bottom formations confirmation at 8849.35 on 05-03-2015 then next target of Sub Wave-5 will be:- 

449.75+8849.35=9299.10

Firstly sustaining above 8849.35 should be watched in next week and its confirmations will mean confirmation of Sub Wave-5 formation and its continuation towards next target at 9299.10 after 100% of Sub Wave-3. 

As good supports above 8849.35 on 05-03-2015 and as such good selling not seen above it but on the other hand consolidation patterns were also seen on 04-03-2015 therefore expected that finally Nifty will sustain above 8849.35 and will finally move towards next target at 9299.10.

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Rally continuation above today highest(9119.20) despite huge fall today

Technical Analysis and Market Outlook

(05-03-2015)

Nifty-Intra Day Chart (04-Mar-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 9023-9096 
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8994-9096

Conclusions from intra day chart analysis 

Huge gap up opening after RBI rates cut and after that almost 5 hours sideways trading with mixed Patterns formation but .82% down closing at the lower levels of the day therefore sentiment turned completely depressed which was jubilant at the opening of the day. As following patterns were also seen today therefore view will not be Bearish:-

1- One hour 160 points down moves after 02:00 PM were in Bullish Falling Channel. 
2- Down moves in Bullish Falling Channel were seen in first 5 hours sideways market also.
 

All trends are up and today sharp down will be considered only intraday correction and rally continuation above today highest(9119.20) is still expected despite huge fall today because above mentioned consolidation patterns Were also seen and as such selling patterns were not seen today.