Positive Surprise by RBI on 7th Apr will mean Strong Rally this time

Technical Analysis,Research & Weekly Outlook

(Apr 06 to Apr 10,2015)

Nifty-Intra Day Chart (Mar 20 to Apr 01,2015):-

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Technical Patterns and Formations in last 9 Sessions intraday charts

1- 4 Sessions actual trading within 8521-8627 between 20/03/2015-25/03/2015
2- 4 Sessions range broken down on 26/03/2015 after the news of Saudi Arabia air strikes in Yemen.
3- 5 Sessions Volatility with both higher levels selling and equally good lower levels supports
4- Weekly closing at 8586.25 on 01-04-2015 which is between 4 Sessions range(8521-8627) 
5- 9 Sessions actual trading between 8269-8627 

Conclusions from 9 Sessions intra day chart analysis 

Following Weekly Analysis Topic of previous week was updated on 28-03-2015

8521-8627 Will decide the fate of expected Pull Back rally

Pull Back Rally expectations was told and 334 Points Pull Back rally was seen in previous week as well as weekly closing of Nifty was at 8586.25 which if within mentioned range(8521-8627) 

Although 4 Sessions actual trading range(8521-8627) was with good consolidation and minor selling but range broken down on 26/03/2015 after negative news of Saudi Arabia air strikes in Yemen therefore complete selling was required for sustaining below 8521. As on the contrary good lower levels consolidations and higher levels follow up consolidation was also seen in the next 5 Volatile Sessions after 26/03/2015 therefore not sustaining below 8521 and Weekly closing at 8586.25 between 4 Sessions range(8521-8627) and this range has become most crucial for deciding next trend.

Nifty-Intra Day Chart (01-Apr-2015):-

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 8464-8499 
2- Sudden jump after the announcement of "Foreign Trade Policy 2015-2020"
3- Consolidation Patterns between 8517-8542 
4- Up moves in last hour between 8542-8603
5- Whole day actual trading between 8464-8603

Conclusions from intra day chart analysis 

First 3 hours negative zone trading with mixed patterns formations but sudden jump after the announcement of "Foreign Trade Policy 2015-2020". As Follow up consolidation between 8517-8542 after sudden jump and last hour up moves between 8464-8603 which is within mentioned 4 Sessions range(8521-8627) therefore emergence of fresh up moves expectations in the beginning of next week.   

Nifty-EOD Chart (01-Apr-2015):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015)
7- Correction continuation with recent bottom formation at 8269.15 on 27-03-2015
8- 334 Points Pull Back rally with recent top formation at 8603.40 on 01-04-2015

Waves structure of Wave-5

Nifty-EOD Chart (01-Apr-2015):-

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Technical Patterns and Formations in EOD charts

1- 7961.35 on 17-12-2014(Wave-5 beginning after Wave-4 completion)
2- Sub Wave-1(8445.60 on 05-01-2015)
3- Sub Wave-2(8065.45 on 07-01-2015)
4- Sub Wave-3(8996.60 on 30-01-2015)
5- Sub Wave-4(8470.50 on 10-02-2015)
6- Sub Wave-5 of Wave-5 completion at 9119.20 on 04-03-2015 and 'ABC' correction beginning
7- Wave-A(8612 on 16-03-2015)
8- Wave-B(8788.20 on 18-03-2015)
9- Wave-C(8269.15 on 27-03-2015)
10- Pull Back rally with recent top formation at 8603.40 on 01-04-2015

Conclusions (After Putting All Studies Together)

Long Term Trend is up,Intermediate and Short Term Trends are down. The rally which started at 5118.85 on 28-08-2013 completed at 9119.20 on 04-03-2015 after its 5th Wave completion. Its 5th Wave was extended and its 5th Wave also completed at 9119.20 on 04-03-2015 and 'ABC' correction begun which completed at 8269.15 on 27-03-2015. Calculation of 'ABC' correction is as follows:-

9119.20(Wave-A top)
8612.00(Wave-A bottom)
---------
 507.20(Wave-A corrected)
---------------------------------
8788.20(Wave-C top)
8269.15(Wave-C bottom)
---------
 519.05(Wave-C corrected)
---------

Wave-C corrected almost same points as Wave-A corrected therefore confirmation of this 'ABC' wave completion. 

As confirmation of 5th Wave completion of that impulsive Wave-1 which started from 5118.85 on 28-08-2013 therefore until Nifty will not sustain above all time high(9119.20) till then correction possibility of whole this 4000.35 points rally can not be ruled out which started from 5118.85 and completed at 9119.20. 

Certainly Pull Back Rally continuation and finally sustaining beyond 8269-9119 will decide the fate of on going correction. Supports and resistances within this range are as follows:-  

Supports:-

1- 8517-8542
2- 8464-8499
3- 8382-8403
4- 8337-8356
5- 8269-8331

Resistances:-

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

9 Sessions actual trading between 8269-8627 and previous week closing within it at 8586.25 after lower lower levels good consolidations in last 4 sessions. As selling patterns have not developed yet therefore Pull Back Rally continuation is expected in the beginning of next week and once sustaining above 9 Sessions highest(8627) will mean strong rally towards above mentioned resistances.

As multiple supports and resistances are between 8269-9119 therefore expected that Nifty will remain sideways within this range in the coming couple of weeks and prepare for next big moves. Finally sustaining it beyond should be watched for next Big following trend:-  

1- Sustaining above 9119 will mean fresh strong rally after less than 23.6% correction completion at 8269. 
2- Sustaining below 8269 will mean correction continuation towards following retracement levels:-

23.6%- 8174
27.0%- 8038
38.2%- 7590
50.0%- 7118
61.8%- 6646
70.7%- 6290
76.4%- 6062
78.6%- 5974
88.6%- 5574

Most positive news of Land acquisition ordinance re-promulgation on 3rd Apr and RBI Credit Policy on 7th Apr,if positive surprise by Raghuram Rajan then strong rally will be seen because market is well prepared for it this time after good consolidation at lower levels in last 4 sessions.

Mid-session Outlook(01-04-2015)

First 3 hours negative zone trading but sudden jump after the announcement of market friendly "Foreign Trade Policy 2015-2020" and testing of immediate resistance range(8521-8550). Although good selling within this range yesterday but Foreign Trade Policy 2015-2020 is also equally good therefore firstly sustaining it beyond should be watched for the confirmations actual impact / reactions of Policy on Indian Stock Markets.

Pre-open Outlook(01-04-2015)

Good consolidation between 8269-8356 on 27-03-2015 and equally good selling between  8521-8550 on 31-03-2015 therefore Nifty will remain sideways between 8269-8550 in the coming 2/3 sessions as well as will prepare for next decisive moves within this range. 

Certainly correction continuation is expected in the coming sessions but up to 8269 and finally sustaining it beyond should be watched for correction continuation / completion confirmations.

Correction Continuation after Follow up Good Selling

Technical Analysis and Market Outlook

(01-04-2015)

Nifty-Intra Day Chart (31-Mar-2015):-

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours selling between 8521-8550(Immediate Resistance)
2- 90 Points sharp fall in 20 minutes
3- Whole day actual trading between 8454-8550

Conclusions from intra day chart analysis 

Following conclusive lines were told on 30-03-2015 in 8521-8627 is next trend decider:-

1- Expected that Nifty will trade between above mentioned range(8521-8627) and will prepare for next decisive moves
2- As this range is next trend decider therefore firstly sustaining it beyond should be watched for next trend confirmations in the coming sessions

Following conclusive line was told on 28-03-2015 in 8521-8627 Will decide the fate of expected Pull Back rally:-

Pull Back rally is expected in the beginning of next week and finally sustaining beyond 8521-8627 will decide its length and fate.

As was told in the Outlooks of last 2 sessions 100%  same happened:-

1- Strong Pull Back Rally was seen and Nifty closed 150 points up on 30-03-2015. 
2- Nifty traded between above mentioned range(8521-8627) today and traded between 8521-8550. 

Firstly more than 4 hours selling between 8521-8550 and after that sharp 90 Points fall in 20 minutes today therefore breaking down confirmation of 8521-8627. Correction is on and its continuation confirmation today after follow up selling between 8521-8550 and until Nifty will not sustain above it after follow up consolidation till then next up moves will not be considered.

Although flat closing today but follow up good selling between 8521-8627 today therefore correction continuation is expected in the coming sessions.

8521-8627 is next trend decider

Technical Analysis and Market Outlook

(31-03-2015)

Following line with detailed analysis was told on 28-03-2015 in 8521-8627 Will decide the fate of expected Pull Back rally:-

Pull Back rally is expected in the beginning of next week and finally sustaining beyond 8521-8627 will decide its length and fate.

As was told 100% same happened and strong Pull Back Rally was seen as well as Nifty closed 150 points up today.

Expected that Nifty will trade between above mentioned range(8521-8627) and will prepare for next decisive moves. As this range is next trend decider therefore firstly sustaining it beyond should be watched for next trend confirmations in the coming sessions.

(As extremely busy today therefore detailed analysis is not being updated)

8521-8627 Will decide the fate of expected Pull Back rally

Technical Analysis,Research & Weekly Outlook

(Mar 30 to Apr 01,2015)

Nifty-Intra Day Chart (27-Mar-2015):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 8337-8356
2- Consolidation between 8269-8331(Immediate Supports)
3- Consolidation Patterns between 8334-8346
4- Whole day actual trading between 8269-8392

Conclusions from intra day chart analysis 

Although flat closing but whole day good consolidation therefore Pull Back Rally possibility in the beginning of next week

Nifty-EOD Chart (27-Mar-2015):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014 and Wave-5 started)
6- Wave-5(9119.20 on 04-03-2015)
7- Correction continuation with recent bottom formation at 8269.15 on 27-03-2015

Conclusions (After Putting All Studies Together)

Following most positive news flow in March Derivative series:- 

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.

Surprising most encouraging news of RBI rates cut on 04-03-2015 and new life time high formation also same day but that correction beginning which remain continued till the last day on March Derivative series. 

Nifty traded 4 sessions between 20/03/2015-25/03/2015 within 8521-8627 with intraday consolidation patterns but this range was forcefully broken down on 26/03/2015 because all the Global markets were most depressed due to following negative news:-

1- Saudi Arabia launches air strikes in Yemen.
2- Greece Crisis enhancement news because Greece cash crisis takes turn for worse.

Indian markets also reacted negative and Nifty closed 209 points down on 26/03/2015 as well as gave Intermediate term trend turning down confirmation after slipping below 8470.50. As above mentioned 4 sessions trading was with consolidation patterns and this range was broken down due to negative news therefore if follow up consolidation develops in next week after intraday consolidation on 27-03-2015 then sustaining above 8627 will give strong indication of correction completion.

As selling developed after above mentioned encouraging and positive news and following resistances have developed at higher levels therefore follow up consolidation is also required rally continuation:- 

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

At present Short and Intermediate term trends are down and Long Term Trend is still up,its decider 200-Day EMA is today at 8111. Wave-5 started from 7961.35 and it is just below 8111 therefore these 2 levels become most crucial. Correction is on and no confirmation of its completion yet as well as some more down moves possibilities can not be ruled out therefore sustaining beyond 8111 / 7961.35 sould be watched in the coming week / weeks for deciding the fate of Long Term Trend. It should be kept in mind that Wave-1 started from  5118.85 on 28-08-2013 and its 5th Wave completion confirmation on 26/03/2015,if Nifty sustains below Long Term Trend decider 200 Day EMA(8111) and bottom of Wave-5(7961.35) then Nifty will retrace that rally which started from  5118.85.

As Oscillators are oversold and good intraday consolidation on 27/03/2015 therefore Pull Back rally in expected in the beginning of next week but complete consolidation is required on Daily and Weekly charts for correction completion and if it happens near about following retracement levels that will be first strong signal of correction completion:-  

1- 0.707%- 8300(Retraced and closing above it on 27/03/2015 )
2- 0.764%- 8234
3- 0.786%- 8208
4- 0.886%- 8093

Pull Back rally is expected in the beginning of next week and finally sustaining beyond 8521-8627 will decide its length and fate.

Correction confirmation and 8109/7961 will decide Long Term Trend

Technical Analysis and Market Outlook

(27-03-2015)

Nifty-Intra Day Chart (26-Mar-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8436-8499
2- Sharp down in last 2 hours
3- Whole day actual trading between 9326-8499

Conclusions from intra day chart analysis 

Following weekly analysis topic was posted on 22-03-2015:-

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

As intraday charts of last 4 sessions were showing consolidation patterns therefore it was expected that Impulsive Sub Wave-1 will remain continued and finally fresh rally will start after follow up consolidation today despite weakness in US and European markets yesterday but  I proved wrong because Sentiment turned most depressed today morning because US markets closed near the lowest of the day yesterday after last hour sharp down. Resultant  gap down opening of Indian markets was seen and Impulsive Sub Wave-1 failing confirmation in first minute today after Nifty slipping below 8470.50. As Dow's Futures slipped more than 160 points and European markets also slipped after opening therefore no respite for Indian markets and whole day crashing like situation was seen today.

Short Term Trend was already down and Intermediate term trend turning down confirmation today after Nifty slipping below 8470.50 and it means correction continuation confirmation from 3 weeks to 3 months.

Wave-5 started from 7961.35 on 17-12-2014 and its completion confirmation at 9119.20 on 04-03-2015(on RBI Rates cut day) therefore Nifty will firstly correct that rally which started from 7961.35. Long Term Trend is still up and its decider 200 Day EMA is today at 8109. As 7961.35 is just above 8109 therefore finally sustaining beyond 8109 / 7961.35 will decide the fate of Long Term Trend. 

Wave-1 started from  5118.85 on 28-08-2013 and its Wave-5 completion confirmation today. If Nifty sustains below Long Term Trend decider 200 Day EMA(8109) and bottom of Wave-5(7961.35) then Nifty will retrace whole that rally which started from  5118.85 and these levels should be watched in the coming weeks for Long Term Trend confirmations.

As Oscillators are oversold therefore Pull Back rally may be seen any day after 1/2 sessions lower levels consolidation but complete consolidation is required on Daily and Weekly charts for correction completion and following retracement levels of Wave-5 should be firstly watched in the coming 1/2 sessions for Pull Back rally:-  

[0.618] 8,403.3600(Retraced today but Most crucial level)
[0.707] 8,300.2900
[0.764] 8,234.2900
[0.786] 8,208.8100
[0.886] 8,093.0100

Mid-session Outlook(26-03-2015)

Most positive news flow in March Derivative series but correction beginning and Bullish Waves structure failed on the expiry day of settlement today after Nifty slipping below 8470.50. Certainly I proved wrong and as per Elliot Waves Theory Waves should be recounted in such situations. Whole Waves structure will be understood on long Charts and then will be updated accordingly.

Finally positive closing Possibility after 5th Session follow up Consolidation 

Technical Analysis and Market Outlook

(26-03-2015)

Nifty-Intra Day Chart (25-Mar-2015):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Minor selling patterns formations
4- Whole day Down moves in Bullish Falling Channel
5- Whole day actual trading between 8516-8573

Conclusions from intra day chart analysis 

Following lines were posted on 22-03-2015 in weekly analysis topic in Bulls & Bears Semi Final between 8470.50-8640 in Next Week:- 

1- firstly Nifty will trade and prepare for next big moves between 8470.50-8640
2- 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)
3- Semi Final between Bulls & Bears will be played between 8470.50-8640 in Next week and its break out will decide their big victory.

Following lines were told on 22-03-2015 in Bulls Final Match Possibility with 9119.20:-

it seems that Indian markets have entered into consolidation phase and follow up consolidation in the coming sessions will Mean Bulls will play Final match with 9119.20.

Following lines were told yesterday in Fresh rally possibility above 8640:-

1- consolidation patterns were also seen today and complete consolidation was seen on 20th and 23rd Mar therefore fresh up moves hopes above 8640 are alive but follow up consolidation is must in the coming 2/3 sessions
2- Emergence of fresh up moves signals after broken out of  8470.50-8640 but follow up consolidation is must for sustaining above 8640. 

Although some selling patterns formations but on the other hand consolidations patterns were also seen today and Whole day Down moves in Bullish Falling Channel which is good intraday consolidation therefore it will be understood that Indian markets are under  consolidation phase because sufficiently good consolidation patterns were seen in last 3 sessions also. 

As US markets are in deep Red and Dow Jones is trading more than 200 points down and most European markets closed more than 1% down as well as SGX Nifty is trading 58 points down therefore if such depressed closing will be seen in US markets today then sentiment may be completely depressed tomorrow morning and all Asian markets will possibly trade in negative zone. In such dampened sentiments initial weakness in Indian markets can not be ruled out but we can not ignore last 4 sessions consolidation therefore expected that Nifty will not slip below 8470.50 and finally Indian markets will close positive after follow up 5th session consolidation. 

Fresh rally possibility above 8640

Technical Analysis and Market Outlook

(25-03-2015)

Nifty-Intra Day Chart (24-Mar-2015):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling patterns formation between 8578-8602
3- Minor consolidation between 8547-8563
4- Mixed Patterns formations at higher levels between 8601-8627 
5- Minor consolidation between 8538-8550
6- High Volatility 
7- Whole day actual trading between 8535-8627

Conclusions from intra day chart analysis 

Following lines were told yesterday in Bulls Final Match Possibility with 9119.20:-

1- emergence of fresh up moves signal 
2- follow up consolidation is must for sustaining above 8640

As was told yesterday 100% same happened today and up moves started immediately after opening as well as Nifty traded 77 points up today. It was clearly told that follow up consolidation is must for sustaining above 8640 and Nifty could not move above 8640 because follow up consolidation was not seen but on the contrary following selling patterns were also seen in first 4 hours today:-

1- Up moves in Bearish Rising Channel
2- Selling patterns formation between 8578-8602

As lower levels consolidation and Mixed Patterns formations at higher levels with 92 points high volatility was also seen in last more than 2 hours today therefore view will not be Bearish despite today closing near the lowest of the day today because Technical positions reverses also in such today like high volatility.

Following lines were told on 22-03-2015 in Bulls & Bears Semi Final between 8470.50-8640 in Next Week:-

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

Although selling patterns formations in first 4 hours today but consolidation patterns were also seen today and complete consolidation was seen on 20th and 23rd Mar therefore fresh up moves hopes above 8640 are alive but follow up consolidation is must in the coming 2/3 sessions.

As today Candle is Inverted Hammer / Gravestone Doji Bullish and adding of one more signal of up moves on today EOD chart therefore increasing of fresh rally possibilities after getting supports above 8470.50.

Finally following almost same conclusion which updated yesterday:-

Emergence of fresh up moves signals after broken out of  8470.50-8640 but follow up consolidation is must for sustaining above 8640. Once sustaining above it will mean fresh up moves with emergence Sub Wave-3 formation possibility for rally above 9119.20 in the coming weeks/months despite last 3 sessions closing near the lowest of the day.

Bulls Final Match Possibility with 9119.20

Technical Analysis and Market Outlook

(24-03-2015)

Nifty-Intra Day Chart (23-Mar-2015):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 8560-8582
2- Down moves after weak opening of European markets.
3- 5 Waves of Bullish Falling Wedge formations in last hours
4- Double bottom Supports in last hour
5- Whole day actual trading between 8540-8608

Conclusions from intra day chart analysis 

Although down moves after at 01:35 PM and negative closing today but following points will also be considered:-

1- Down moves after at 01:35 PM was due to weak opening of European markets.  
2- As such selling patterns were not seen today.
3- 2 Hours good consolidation between 8560-8582
4- 5 Waves of "Bullish Falling Wedge formations" in last hours
5- Double bottom Supports in last hour

As above consolidation Patterns formations also seen today therefore it will be understood that Indian market has started consolidation because whole day all "Down moves in Bullish Falling Channels" were seen last Friday also.

As good consolidation patterns formations in last 2 sessions therefore it seems that Indian markets have entered into consolidation phase and follow up consolidation in the coming sessions will Mean Bulls will play Final match with 9119.20.

We clearly mean that emergence of fresh up moves signal but follow up consolidation is must for sustaining above 8640 and once sustaining above it will mean fresh up moves with emergence Sub Wave-3 formation possibility for rally above 9119.20 in the coming weeks/months.

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):-

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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:-

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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.

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