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Pull Back Rally continuation require permission from 8224

Technical Analysis,Research & Weekly Outlook

(May 11 to May 15,2015)

Nifty-EOD Chart (08-May-2015):-

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Waves structure of on going Wave-5

Nifty-EOD Chart (08-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 8141-8178
2- Selling patterns between 8188-8204
3- Selling patterns between 8204-8224
4- Whole day actual trading between 8141-8224

Conclusions from intra day chart analysis

Firstly 110 points strong up moves in first 10 minutes after 74 points gap up opening and after that whole day trading between 8141-8224 with lower levels consolidation but higher levels selling patterns were also seen in last 3 hours therefore firstly sustaining above day's highest(8224) is must for fresh rally continuation.

As today selling patterns formations are at much higher levels(more than 100 points) therefore today resistances are not be much stronger between 8188-8224 and will be broken out easily after minor consolidation.

Nifty-Intra Day Chart (May 06 to May 08,2015):-

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Technical Patterns and Formations in last 3 Sessions intraday charts

1- More than 5 hours trading with selling patterns formation between 8083-8181 on 06-05-2015
2- Whole day Down moves in Bullish Falling Channel on 07-05-2015
3- Mixed Patterns between 8141-8224 on 08-05-2015
4- 3 Sessions actual trading between 7997-8224

Conclusions from 3 Sessions intra day chart analysis

Although whole day good consolidation between 7997-8122 on 07-05-2015 but 5 Hours selling was seen between 8083-8181 on 06-05-2015 therefore complete consolidation was required for sustaining above 8181. As both lower levels consolidation and higher levels selling was seen between 8141-8224 on 08-05-2015 therefore some more consolidation is required for fresh decisive rally above 8181/8224.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend Has turned up after 227 points rally from lower levels in last 2 sessions.
2- Intermediate Term Trend is down which will be up above 8505.
3- Long Term Trend is sideways and Nifty is hovering around its decider 200 Day EMA(today at 8188) for the last 6 sessions.

Wave-1 begun from 5118.85 on 28-08-2013 and its Wave-5 completed after 18 months 4000 points rally at 9119.20 on 04-03-2015 and 'ABC' correction started. Recent bottom of on going corrective Wave-'C' at 7997.15 on 07-05-2015 and after that strong 227 points rally was seen in last 2 sessions which is an indication of Wave-'C' completion and confirmation will be after sustaining above 8181/8224. Once sustaining above 8224 will mean firstly retracement of Wave-'C' according to following retracement levels which started from 8844.40 and completed at 7997.15:-

1- 13.0%- 8,107(Retraced)
2- 23.6%- 8,196(Retraced)
3- 27.0%- 8,225(Retraced)
4- 38.2%- 8,320 (Crucial)
5- 50.0%- 8,420 (Crucial)
6- 61.8%- 8,520 (Crucial)
7- 70.0%- 8,595
8- 76.4%- 8,644
8- 78.6%- 8,662
10-88.6%- 8,747

Confirmation of Wave-'C' completion at 7997.15 will mean following 2 possibilities of next trend:-

1- Fresh rally above all time high(9119.20) after 'ABC'correction completion. This possibility can be considered because Wave-5 has almost completely corrected and sufficient(28%) correction of 4000 points rally has been seen.
2- If 7th May 2015 started rally terminates below the top of Wave-'C'(8844.40) then 5 Waves correction will be seen and its corrective Wave-5 will moves below the bottom of Wave-'C'(7997.15).

Next resistances of Wave-'C' are as follows:-

1- 8230-8365
2- 8431-8462
3- 8486-8502
5- 8522-8564
6- 8640-8468
7- 8690-8750
8- 8777-8784
9- 8802-8844

As above resistances therefore Nifty has to consolidate for any decisive up move and firstly sustaining beyond Long Term Trend decider 200 Day EMA(today at 8188) should be watched for the confirmation of next Trend towards:-

1- Above 8188 will mean rally towards the top of Wave-'C'(8844.40)
2- Below 8188 will mean extension of Wave-'C' towards fresh down moves below 7997/7961

Oscillators are oversold therefore Pull Back Rally continuation is expected in the beginning of next week but rally continuation confirmation is must through sustaining above 8224.

Pull Back rally continuation & Watch Immediate Resistance Range for Next Trend

Intra Day Chart Analysis & Market Outlook

(08-05-2015)

Nifty-Intra Day Chart (07-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day Down moves in Bullish Falling Channel
3- Whole day actual trading between 7997-8122

Conclusions from intra day chart analysis

Although most time negative zone trading and closing also .49% down today but as such no selling patterns formations were seen and on the contrary Down moves in Bullish Falling Channel were also developed which is a consolidation pattern.

Following lines were told yesterday in "Correction continuation towards/below 7994":-

1- Nifty will test 7994
2- finally sustaining it beyond will decide next trend

7994 was told and Nifty rebound 79 points after today lowest formation at 7997.15.

When Nifty was trading at much higher levels then calculations and importance of 7994 was told more than 10 times in last 4/5 weeks and 7994 has been almost tested today. As whole day consolidation was seen today therefore Pull Back rally is expected tomorrow but good selling between 8083-8181 yesterday therefore complete follow up consolidation is required for sustaining above 8181.

On going target of Wave-'B' was at 7994 and it has been achieved today. Now firstly sustaining beyond 8181 should be firstly watched for:-

1- Sustaining above 8181 will mean Pull Back rally continuation with following Waves structure formations possibilities:-
a- Pull Back rally may be fresh rally beginning after 'ABC'correction completion or
b- Pull Back rally may be Wave-4 for fusing below the the top of Wave-'B'(8844.40) and for fresh down moves beginning below today lowest in the form of Wave-5.
c- First signal of 'ABC'correction completion today but 5 Waves correction possibility is still alive.
2- Sustaining below 8181 will mean fresh down moves below today lowest and corrective Wave-'B' continuation.

Certainly Big moves can not be decided from the formations of only 1 day intraday charts. Next moves signals have been drawn which are updated above.

Today last hour started Pull Back rally continuation is expected tomorrow and finally sustaining beyond immediate resistance range(8083-8181) will give first strong indication of next trend.

Pre-open Outlook(07-05-2015)

As all the Asian markets are in Red and 3 markets are more than 1% down as well as sentiment is most depressed today morning therefore weak opening will be seen in Indian markets. It should be kept in mind that Oscillators are oversold therefore a bounce back and volatility possibility is high. More than 5 hours trading with selling patterns formation between 8083-8181 yesterday and until Nifty will not sustain above 8181 after complete consolidation till then even Pull Back will not be seen.

Indian markets will react on GST Bill developments in Rajya Sabha in the coming coming 1/2 sessions and may be volatile also but until Nifty will not sustain above 8181 till then decisive up moves will not be seen despite whatsoever positive news.

Correction continuation towards/below 7994

Intra Day Chart Analysis & Market Outlook

(07-05-2015)

Nifty-Intra Day Chart (06-May-2015):-

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Technical Patterns and Formations in today intraday charts

1- Huge fall in first Hour
2- More than 5 hours trading with selling patterns formation between 8083-8181
3- Whole day actual trading between 8083-8331

Conclusions from intra day chart analysis

Following 4 crucial were updated more than 10 times in previous 4 Weeks:-

1- 8186(Long Term Trend decider 200 Day EMA)
2- 8269(Neckline of Bearish Head and Shoulders Pattern)
3- 8353(Lower rising line of "9 Months Broadening Rising Channel")
4- 7994(100% of Wave-'A')

Just go through previous 4 weeks Outlooks and understand the calculations and importance of above mentioned 4 levels. Following conclusive moves were updated after breaking down confirmations of above levels:-

1- Sustaining below 8186 means Long Term Trend turning down confirmation and resultant correction continuation more than 3/4 months
2- Sustaining below 8269 means Bearish Head and Shoulders's Neckline broken down and resultant deeper correction.
3- Sustaining below 8353 means much deeper/huge correction after "9 Months Channel" broken down confirmation
4- 7994 will be 100% correction of Wave-'A' and this levels has not been tested in on going correction yet. This levels will decide the length and life of correction.

As more than 5 hours trading with selling patterns formation between 8083-8181 today therefore expected that Nifty will test 7994 and finally sustaining it beyond will decide next trend in following manner:-

1- Nifty may slip below 7994 but if finally sustain above it in 2/3 sessions then "ABC" correction possibility will be considered and fresh up moves will be seen after "ABC" correction completion.
2- If finally Nifty sustain below 7994 then 5 Waves correction will be seen and that will mean 5th Wave down moves much below 7994. As Lower rising line of "9 Months Broadening Rising Channel" broken down confirmation therefore its possibility is high.

Correction is on and its continuation is expected towards/below 7994

Live Proofs 100% Accurate Analysis & Profitable calls to Paid Clients

Following lines were told yesterday at 06:03 PM in Fresh Down Moves:-

1- fresh down moves will be seen tomorrow and
2- Nifty will slip below today lowest(8280.60)

As was told yesterday all that proved 100% accurate in following manner today:-

1- Nifty slipped below 8280.60 within first 25 Minutes today.
2- Nifty moved moved down more than 100 points and made bottom at 8158.35 at 09:38 AM today

Nifty-Intra Day Chart at 09:38 AM(06-May-2015)

(Just click at above topic link and go through)

We not only posted Outlooks but also send following trading SMS to our paid clients yesterday and its profit was booked after target achieving today:-

SMS No 1- At 03:21 PM on 05-05-2015-NIFTY-NIFTY-May PE(8200)-Buy-Positional-SL-59 & TGT-104-CMP-78 NIFTY-May Fut-Sell-Positional-SL-8386 & TGT-8316-CMP-8360(Lalit39)
SMS No 2- At 09:37 AM on 06-05-2015-NIFTY May F&O(Shorted on 05-05-2015)-Targets achieved in Fut,Cover and book profit immediately in both PE & Fut-CMP Fut-8316/CMP PE-98(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.

Fresh Down Moves

Intra Day Chart Analysis & Market Outlook

(06-05-2015)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 8322-8355(Immediate Resistances)
2- Whole day actual trading between 8281-8355

Conclusions from intra day chart analysis

Although Nifty closed after 43 points recovery from lower levels but more than 2 hours selling also seen at higher levels today therefore expected that fresh down moves will be seen tomorrow and Nifty will slip below today lowest(8280.60). Today selling range will be immediate Resistances and finally sustaining beyond following immediate supports will decide the fate that rally which started on 30-04-2015:-

1- Supports between 8253-8277
2- Supports between 8144-8168

Sideways Nifty in a Broader Range

Intra Day Chart Analysis & Market Outlook

(05-05-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8253-8266
2- Selling patterns formation between 8282-8300
3- Consolidation between 8262-8277
4- More than 5 hours Mixed Patterns formations between 8253-8300
5- Last half Hour Up moves in Bearish Rising Channel
6- Whole day actual trading between 8221-8346

Conclusions from intra day chart analysis

Following line was told at 04:44:00 PM on 03-05-2015 in "Technical Analysis and Market Outlook(04-05-2015)":-

Pull Back Rally will be considered in the beginning of next week

As was told 100% same happened and Nifty closed 150.45 points up today

Although today losing near the highs of the day today but some selling patterns were also seen today therefore more consolidation is firstly required for decisive up moves above today highest.

Following crucial and next trend decider levels were updated on 02-05-2015 in "Long Term Trend is at Stake & Bearish Patterns signalling Deeper Correction":-

1- 8186(Long Term Trend decider 200 Day EMA)- 1 sessions closing below it
2- 8269(Neckline of Bearish Head and Shoulders Pattern)- 2 sessions closing below it
3- 8353(Lower rising line of "9 Months Broadening Rising Channel")- 6 sessions closing below it
4- 7994(100% of Wave-'A')

Above mentioned first 3 levels were broken down and Nifty closed at 8181.50 on 30-04-2015 but strong rally 150 points today therefore:-

1- Long Term Up Trend is still intact because Nifty moved above 200 Day EMA after 1 day closing below it.
2- No confirmation of Bearish Head and Shoulders breaking down because Nifty moved above its Neckline after 2 day closing below it.
3- As 6 sessions closing below the lower rising line of "9 Months Broadening Rising Channel" therefore its breaking down confirmation and deeper correction risk.
4- No confirmation of corrective Wave-'C' completion therefore possibility of 100% of Wave-'A' down moves towards 7994 is also still alive.

Nifty crossed 2 resistances today and following 3 resistances were lying at higher levels:-

1- Resistances between 8230-8365
2- Resistances between 8431-8462
3- Resistances between 8486-8502

Although strong rally today but mixed patterns formations today and 3 resistances also above today highest therefore Nifty has to consolidate for fresh rally and sustaining above 8502. As 6 sessions closing below the lower rising line of "9 Months Broadening Rising Channel" therefore until Nifty will not sustain above lower rising line(8353) till then trend reversal will not be considered.

As completely mixed patterns on intraday and EOD charts therefore Nifty is not prepared for next trend and will remain sideways in a broader range between 8144-8502 as well as prepare for next trend.

Let market prepare for next trend between 8144-8502 then will updated from the analysis of intrady charts patterns formation in the same manner as being done for the last 5 years.

Technical Analysis and Market Outlook(04-05-2015)

Nifty-Intra Day Chart (30-Apr-2015):-

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Technical Patterns and Formations in today intraday charts

1- Support between 8144-8168
2- Selling between 8175-8195
3- Support between 8145-8164
4- Mixed Patterns between 8184-8211
5- Whole day actual trading between 8144-8229

Conclusions from intra day chart analysis

Although some selling patterns were seen but lower levels good supports were also seen on 30-04-2015 therefore Pull Back Rally will be considered in the beginning of next week. As following resistances are lying at immediate higher levels therefore until Nifty will not sustain above 8308 till then decisive up moves will not be considered.

1- Resistances between 8213-8225
2- Resistances between 8232-8308

Detailed analysis of EOD Charts have already been updated yesterday and for understanding Long Term Trend just click following Topic Link

Long Term Trend is at Stake & Bearish Patterns signalling Deeper Correction

Technical Analysis,Research & Weekly Outlook

(May 04 to May 08,2015)

Nifty-EOD Chart (30-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)('ABC' correction beginning)
7- Wave-A(8269.15 on 27-03-2015)
8- Wave-B(8844.40 on 15-04-2015)
9- Wave-C correction continuation with recent bottom formation at 8144.75 on 30-04-2015

Conclusions from EOD chart analysis

Wave-1 started from 5118.85 on 28-08-2013 which completed after 18 months 4000 points rally at 9119.20 on 04-03-2015 and 'ABC' correction begun which is in progress. As correction started after the completion of Wave-5 therefore it may correct whole that rally which started from 5118.85 on 28-08-2013. Retracement / correction levels of this rally are as follows:-

13.0%- 8598(corrected)
23.6%- 8174(corrected)
27,0%- 8038
38.2%- 7590(Crucial level)
50.0%- 7118(Crucial level)
61.8%- 6646(Crucial level)
70.7%- 6290
76.4%- 6062
78.6%- 5974
88.6%- 5574

Waves structure of on going Wave-5

Nifty-EOD Chart (30-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'(8269.15 on 27-03-2015)
8- Wave-'B'(8844.40 on 15-04-2015)
9- Wave-C correction continuation with recent bottom formation at 8144.75 on 30-04-2015

Conclusions from EOD chart analysis

Last 2 Retracement/correction levels of Wave-5 are as follows:-

1- 78.6%- 8208(corrected)
2- 88.6%- 8093(Last Retracement / correction level)

Wave-5 started from 7961.35 on 17-12-2014 which completed at 9119.20 and its has crossed 78.6%(8208) levels. Now its last retracement levels is at 88.6%(8093) and once its valid breaking down will mean high possibility of fresh deeper correction after full retracement of Wave-5 at 7961.35.

Lower rising line of "9 Months Broadening Rising Channel" broken down

Nifty-EOD Chart (30-Apr-2015):-

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Technical Patterns and Formations in EOD charts

1- 9 Months rally in Broadening Rising Channel
2- Lower rising line of Broadening Rising Channel broken down
3- Last 5 Sessions closing below the lower rising line of Channel

Conclusions from EOD chart analysis

As such huge 9 Months Broadening Rising Channel broken down and last 5 Sessions closing also below the lower rising line of Channel therefore emergence of strong possibility of much deeper correction because Broadening Rising Channel is a Bearish pattern. Now correction like 2011 will be considered and possibility of correction like 2008 also can not be ruled out.

Bearish Head and Shoulders Pattern Neckline at 8269 broken down

Nifty-EOD Chart (30-Apr-2015):-

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Technical Patterns and Formations in EOD charts

1- Bearish Head and Shoulders Pattern formations in 67 sessions with Neckline at 8269
2- Neckline of Head and Shoulders broken down
3- Last 2 Sessions closing below Neckline

Conclusions from EOD chart analysis

67 Sessions like big Head and Shoulders Bearish Pattern formations and its Neckline(8269) broken doen as well as last 2 sessions closing below it therefore this pattern is also showing fresh deeper correction indications. As 3 sessions closing below its Neckline is must for its breaking down confirmation therefore should be firstly watched on Next trading day. Once Neckline(8269) broken down confirmation will mean beginning fresh deeper down moves.

Waves structure of 'ABC'correction

Nifty-EOD Chart (30-Apr-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Sub Wave-5 of Wave-5 completion at 9119.20 on 04-03-2015 and 'ABC'correction beginning
2- Wave-'A'(8269.15 on 27-03-2015)
3- Wave-'A' corrected 850 points
4- Wave-'B'(8844.40 on 15-04-2015)
5- Wave-'C' has corrected 700 points yet.
6- Wave-C correction continuation with recent bottom formation at 8144.75 on 30-04-2015

Conclusions from EOD chart analysis

Wave-'A' corrected 850 points(9119-8269)
Now Wave-'C' correction is on after Wave-'B'completion at 8844 and if Wave-'C' corrects 100% of Wave-'A' then:-
Wave-'C' may correct up to 7994(8844-850)

Wave-'C' is on and no confirmation of its completion yet therefore correction continuation towards 7994 will be considered.

Conclusions (After Putting All Studies Together)

Short and Intermediate Term Trends are down and Long Term Trend is at stake because previous closing(8181.50) was seen just below its decider 200 Day EMA(today at 8186). As correction started after Wave-5 completion at 9119.20 on 04-03-2015 therefore on going correction may correct whole that 4000 points rally which started from 5118.85 on 28-08-2013.

Above mentioned 2 huge Bearish patterns formations in last 9 months and almost breaking down confirmations of these both patterns therefore emergence of much deeper correction possibility. Now Wave-'C' is on and no confirmation of its completion yet therefore correction continuation towards 100% of Wave-'A'(7994) will be considered now and that will be:-

1- Long Term Trend trend turning down confirmation after breaking down of its decider 200 Day EMA(today at 8186).
2- 100% breaking down confirmation mentioned 2 huge Bearish patterns.

Correction is on and its continuation is expected as well as much deeper correction will get confirmation after slipping below 7994

Fresh Down Moves below 8185

Technical Analysis and Market Outlook

(30-04-2015)

Nifty-Intra Day Chart (29-Apr-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8263-8290
2- Selling patterns formation between 8274-8308
3- Whole day actual trading between 8219-8308

Conclusions from intra day chart analysis

Although Nifty closed near the higher levels of the day yesterday but we were not Bullish and told following line yesterday in "Finally 8187 will decide next Big Moves of Nifty":-

good selling patterns formations were also seen today therefore view is cautious

Good selling patterns formations between 8185-8307 yesterday and follow up selling seen within this range today also therefore expected that fresh Down moves will be seen tomorrow and Nifty will slip below today lowest(8219) as well as possibility of slipping below yesterday lowest(8185) also.

Finally 8187 will decide next Big Moves of Nifty

Technical Analysis and Market Outlook

(29-04-2015)

Nifty-Intra Day Chart (28-Apr-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8232-8264
2- Selling patterns formation between 8213-8225
3- Selling patterns formation between 8280-8307
4- Whole day actual trading between 8185-8307

Conclusions from intra day chart analysis

Although Nifty closing near the lower levels of the day yesterday but we were not Bearish and told following conclusive line yesterday in "Pull Back Rally Expectations":-

expected that Pull Back Rally will be seen tomorrow

As was told 100% same happened and Nifty closed 71 points up today.

Although strong recovery from lower levels today and closing also above immediate resistance range(8265-8275) but good selling patterns formations were also seen today therefore view is cautious because some resistances are lying above today highest between 8321-8460.

As complete consolidation is required now for sustaining and decisive up moves above 8275 therefore follow up intraday patterns formations and sustaining beyond today trading range(8185-8307) should be firstly watched in the coming couple of sessions for correction continuation / today started Pull Back Rally continuation because Long Term Trend decider 200 Day EMA(today at 8187) is tested today and finally sustaining it beyond will also decide next big moves.

Mid-session Outlook(28-04-2015)

Although Nifty closed near the lower levels of the day yesterday but we told for Pull Back Rally and it was seen immediately after opening today as well as Nifty traded 50 points up in first hour today. As next resistances are between 8265-8275 therefore valid break out of 8275 is must for Pull Back Rally continuation.

Pull Back Rally Expectations

Technical Analysis and Market Outlook

(28-04-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 8202-8334

Conclusions from intra day chart analysis

Although closing near the lower levels of the day today but whole day "Down moves in Bullish Falling Channel" therefore expected that Pull Back Rally will be seen tomorrow.

8269 will decide the life and depth of on going correction

Technical Analysis,Research & Weekly Outlook

(Apr 27 to Apr 30,2015)

Nifty-EOD Chart (24-Apr-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Head and Shoulders Bearish Pattern formations in 67 sessions with Neckline at 8269

Nifty-EOD Chart (24-Apr-2015):-

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Technical Patterns and Formations in EOD charts

1- Intermediate Term Trend is sideways between 8269-8844 for the last such long 27 sessions.

Nifty-Intra Day Chart (Apr 21 to Apr 24,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 4 Sessions intraday charts

1- Mixed Patterns between 8419-8460 on 21-04-2015
2- Mixed Patterns between 8371-8449 on 22-04-2015
3- Support between 8284-8318 on 22-04-2015
4- Selling between 8483-8504 on 23-04-2015
5- Mixed Patterns between 8361-8455 on 23-04-2015
6- Mixed Patterns between 8321-8366 on 24-04-2015
7- Consolidation between 8274-8304 on 24-04-2015
8- 4 Sessions most time trading between 8321-8460
9- 4 Sessions actual trading between 8274-8504

Conclusions from 4 Sessions intra day chart analysis

Last 4 sessions most time trading between 8321-8460 with mixed Patterns formations within it therefore valid break out of this range will be first strong indication od next big moves. As selling above it up to 8504 and consolidation below it up to 8274 therefore sustaining beyond 8274-8504 will be confirmation of next big trend.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend is down.
2- Intermediate Term Trend is sideways between 8269-8844 for the last such long 27 sessions.
3- Long Term Trend is up and its decider 200 Day EMA is today at 8186.

Now Wave-'C' of 'ABC' correction continuation and no indication of its completion yet. Wave-'A' corrected 850 points and if Wave-'C' corrects 100% of Wave-'A' then on going Wave-'C' which started from 8844 may correct up to 7994(8844-850).

Intermediate Term Trend is sideways between 8269-8844 for the last 27 sessions with recent bottom formation at 8273.35 in previous trading session(24-04-2015) which is just above 8269. Although 56 points immediate fast recovery after after bottom formation at 8273.35 on 24-04-2015 but sustaining beyond 8269 should be firstly watched in the coming week for the confirmation of Intermediate Term Trend in following manner:-

1- Sustaining below 8269 will mean Intermediate Term Trend turning down and correction continuation confirmation.
2- Sustaining above 8269 will mean sideways Intermediate Term Trend confirmation between 8269-8844.

Last 4 Sessions most time trading with Mixed Patterns formations between 8321-8460. As some selling just above it up to 8504 and consolidation just below it up to 8274 therefore firstly Nifty has to prepare for next decisive moves between 8274-8504 and should be firstly watched in next week.

As Bearish Head and Shoulders Pattern formations in last 67 sessions with Neckline at 8269 which will decide Intermediate Term Trend also therefore once sustaining below 8269 will mean high possibility of deeper correction. In this situation Long Term Trend will be at stake because its decider 200 Day EMA is today at 8186 which is only 83 points below 8269 therefore 8269 has become most crucial and next trend decider.

Correction is on,no confirmation of its completion yet and 8269 will decide the life and depth of on going correction. It should be kept in mind that once sustaining below or forceful breaking down of 8269 will mean emergence of deeper correction possibility therefore sustaining it beyond should be firstly watched in next week.

Sustaining beyond 8284-8504 will decide Next Trend

Technical Analysis and Market Outlook

(24-04-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 8583-8504
2- Selling between 8408-4455
3- Down moves in Bullish Falling Channel
4- Most time trading between 8361-8455
5- Whole day actual trading between 8361-8504

Conclusions from intra day chart analysis

Following lines were told on 22-04-2015 in "Pull Back Rally possibility above 8469":-

1- As mixed patterns were seen at higher levels in last 2 sessions therefore
2- firstly sustaining above the highest of last 2 sessions(8469) is must for the confirmation of Pull Back Rally
3- Mixed Patterns between 8419-8460 on 21-04-2015
4- Mixed Patterns between 8371-8449 on 22-04-2015

Pull Back Rally was seen above 8469 immediately after opening but Nifty could not sustain at higher levels and slipped fast after intraday highest formation at 8504.95.

As mixed patterns were seen between 8371-8460 in last 2 sessions and Nifty traded most time within this range between 8361-8455 today with mixed patterns formations again within this range therefore firstly Nifty has to prepare for next decisive moves within or near about 8361-8460. As buying was seen below 8361 between 8284-8318 on 22-04-2015 and selling was seen above 8460 between 8583-8504 on 23-04-2015 therefore finally sustaining beyond 8284-8504 will decide next trend.

Pull Back Rally possibility above 8469

Technical Analysis and Market Outlook

(23-04-2015)

Nifty-Intra Day Chart (Apr 21 & Apr 22,2015)

Just click on chart for its enlarged view

Technical Patterns and Formations in last 2 Sessions intraday charts

1- Mixed Patterns between 8419-8460 on 21-04-2015
2- Slow down moves with buying indications on 21-04-2015
3- Mixed Patterns between 8371-8449 on 22-04-2015
4- Slow down moves with buying indications on 22-04-2015
5- Support between 8284-8318 on 22-04-2015
6- Strong up moves in last hours on 22-04-2015
7- Bullish Hammer Candle formation on 22-04-2015
8- 2 Sessions actual trading between 8284-8469

Conclusions from 2 Sessions intra day chart analysis

Importance of 8352.70 and 8269 was updated in following topic on 21-04-2015:-

4 Crucial levels will decide the Life of on going Correction

Although Nifty slipped below 8352.70 but recovered 144 points after getting supports just above 8269 at 8284.70 and Bullish Hammer Candle formation also on 22-04-2015 therefore market saved today from 2 most Bearish following patterns:-

1- 8 Months long Bearish Broadening Rising Channel(Closing above lower rising line of Channel at 8352.70)
2- Support and strong up moves above the Neckline(8269) of Head and Shoulders Bearish Pattern.

Although Nifty slipped 185 points from higher levels in last 2 sessions but as such selling patterns were not seen and lower levels supports with consolidation patterns were also seen in last 2 sessions therefore first indication of correction completion and Pull Back Rally beginning possibility.

As mixed patterns were seen at higher levels in last 2 sessions therefore firstly sustaining above the highest of last 2 sessions(8469) is must for the confirmation of Pull Back Rally beginning and fresh up moves towards following resistances:-

1- 8522-8564
2- 8640-8468
3- 8690-8750
4- 8802-8844

4 Crucial levels will decide the Life of on going Correction

Technical Analysis and Market Outlook

(22-04-2015)

Nifty-EOD Chart (21-Apr-2015):-

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Technical Patterns and Formations in EOD charts

1- 8 Months rally in Broadening Rising Channel
2- Retesting of lower rising line of Broadening Rising Channel on 21-04-2015
3- Long Term Trend decider 200 Day EMA(today at 8180)

Conclusions from EOD chart analysis

Following lines were told on 11-04-2015 in Strong Signals of Short Term Correction in Next Week:-

1- Broadening Rising Channel formation started on 08-08-2015 and since then rally continuation within this channel.
2- As Rising Channel therefore it is a Bearish pattern and its valid breaking down will mean possibility of deeper correction like 2008 because Channel is such 8 months long.
3- Correction is on and no confirmation of its completion yet therefore view is cautious and sustaining beyond lower rising line of this channel should be watched in the coming weeks for first strong signal of next Long Term Trend.

Lower rising line of Broadening Rising Channel was retested at today lowest(8352.70) and firstly sustaining it beyond should be watched in the coming sessions because sustaining below it will mean emergence of deeper correction strong possibility.

Importance of 8269 and 7994 has already been updated in following Weekly Analysis topic on 18-04-2015:-

Correction Continuation & 3 crucial levels are Big Trend Decider of Nifty

8269 is Neckline of 64 sessions Bearish Head and Shoulders Pattern and its valid break down will mean deeper correction confirmation. As 7994 is 100% of Wave-'A' therefore correction continuation possibility up to this level is alive

Correction is on,its continuation is expected and no signal of its completion yet. Long Term Trend decider 200 Day EMA is today at 8180 and finally sustaining it beyond will give correction completion / deeper correction confirmation therefore should be firstly watched in the coming sessions. Importance of following 4 Levels have been updated above and expected that Bulls and Bears fight will be seen near about these 4 Crucial levels as well as finally sustaining beyond these levels will decide the life of on going correction:-

1- 8352.70
2- 8269
3- 8180
4- 7994

Finally sustaining above 8352.70 will mean strong indication of correction completion and sustaining below 7994 will mean deeper correction confirmation after slipping below 7961. As Wave-5 begun from 7961 and once slipping below it will mean deeper correction confirmation because that will be Long Term Trend turning down confirmation also after sustaining below its decider 200 Day EMA(today at 8180).

Correction continuation with Technical Bounce back Possibility

Technical Analysis and Market Outlook

(21-04-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Sharp fall immediately after opening
2- 4 Hours Selling patterns formation between 8522-8564
3- 100 Points down moves after 4 hours selling
3- Whole day actual trading between 8422-8619

Conclusions from intra day chart analysis

Firstly 50 points slipping within first 6 minutes and after that more than 4 hours selling between 8522-8564 therefore 100 points down moves in last hours and closing near the lower levels of the day.

Correction is on and it continuation is still expected but very short term indicators have turned oversold therefore technical bounce back possibility can not be ruled out. As 8522-8564 has developed immediate resistance therefore complete consolidation is required for sustaining above 8564 and until Nifty will not sustain above 8564 till then next rally will not be considered.

Correction Continuation & 3 crucial levels are Big Trend Decider of Nifty

Technical Analysis,Research & Weekly Outlook

(Apr 20 to Apr 24,2015)

Huge correction of Nifty was seen in 2008 which started on 08-01-2008 from 6357.10 and completed at 2252.75 on 27-10-2008 and Wave-1 started. Its waves structure with detailed analysis was updated in following topic of previous week Outlook:-

Strong Signals of Short Term Correction in Next Week

Its Wave-3 started after Wave-2 correction completion on 20-12-2011 from 4531.15. Now Wave-3 is on and its waves structure is as follows:-

Nifty-EOD Chart (17-Apr-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 4531.15 on 20-12-2011(Rally beginning after 13 Months correction completion)
2- Wave-1(5629.95 on 22-02-2012)
3- Wave-2(4770.35 on 04-06-2012)
4- Wave-3(6111.80 on 29-01-2013)
5- Wave-4(5477.20 on 10-04-2012)
6- Wave-5(6229.45 on 20-05-2013)- Wave-2 beginning('ABC' correction)
7- Wave'A'(5566.25 on 24-06-2013)
8- Wave'B'(5093.35 on 23-07-2013)
9- Wave'c'(5118.85 on 28-08-2013)- Wave-3 beginning Wave after 'ABC' correction completion)
10- Wave-3 recent top formation at 9119.20 on 04-03-2015 and after that correction continuation
11- Recent bottom of on going correction formation at 8269.15 on 27-03-2015

Waves structure of Sub Wave-3 of Wave-3

Nifty-EOD Chart (17-Apr-2015):-

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Waves structure of Wave-5 and on going Correction

Nifty-EOD Chart (17-Apr-2015):-

Just click on chart for its enlarged view

62 Sessions sideways Trading between 8269-9119

Nifty-EOD Chart (17-Apr-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Head and Shoulders Bearish Pattern formations in 62 sessions with neckline at 8269

Conclusions (After Putting All Studies Together)

Wave-3 started from 5118.85 on 28-08-2013,its 5 waves completed at 9119.20 on 04-03-2015 and after that correction started. As correction begun after completion of 5 waves therefore Nifty may correct whole 4000 points rally in accordance of following retracement levels:-

1- 13.0%- 8,598(Retraced)
2- 23.6%- 8,174
3- 27.0%- 8,038
4- 38.2%- 7,590(Crucial)
5- 50.0%- 7,118(Crucial)
6- 61.8%- 6,646(Crucial)
7- 70.0%- 6,290
8- 76.4%- 6,062
8- 78.6%- 5,974
10-88.6%- 5,574

Now 'ABC' correction of Wave-5 of Wave-3 continuation between 8269-9119. Waves movements within this range are as follows:-

Wave-'A' corrected 850 points(9119-8269)
Now Wave-'C' correction is on after Wave-'B'completion at 8844 and if Wave-'C' corrects 100% of Wave-'A' then:-
Wave-'C' may correct up to 7994(8844-850)

Following levels are lying near 7994:-

1- Long Term Trend decider 200 Day EMA(today at 8175)
2- Bottom of Wave-5(7961.35)
3- Bottom of Wave-'A'(8269.15)

Wave-'C' correction continuation and expected that war between Bulls and Bears will be seen near about above 4 levels as well as finally sustaining beyond 7961 will decide next Big moves because:-

1- If Nifty sustain below 7961 then much deeper correction may be seen because that will be Long Term Trend turning down confirmation after sustaining below its decider 200 Day EMA(today at 8175) also.
2- If Nifty sustain above 7961 then that will be strong indication of not only Wave-5 correction completion but also of correction completion of that Wave-1 which started from 5118.85 on 28-08-2013.

Long Term Trend is up, Short Term Trend is down and Intermediate Term Trend is sideways between 8269-8844 and finally sustaining beyond this range will decide Intermediate Term Trend as well as give first strong indication of next big moves because:-

1- Nifty is sideways between 8269-9119 for the last 62 sessions with Bearish Head and Shoulders Pattern formations within it and its neckline is at 8269 therefore sustaining below 8269 will mean first strong indication of deeper correction.
2- As following 2 resistances are above 8844 which have turned weaker after 27 sessions correction below it therefore sustaining above 8844 will mean first strong indication of fresh strong rally above life time high(9119.20) after correction completion.

1- Resistances between 8920-8943
2- Resistances 9023-9096

'ABC' correction of Wave-5 of Wave-3 continuation between 7961-9119 and finally sustaining beyond this range will decide next big trend in above mentioned manner. Now Wave-'C' correction is on and if Wave-'C' corrects 100% of Wave-'A' then it may correct up to 7994 which is just above 7961 therefore possibility of correction completion above 7961 after 'ABC' correction completion is still alive and should be firstly watched. As many times Bull markets complete its correction in narrow range sideways market with Time wise correction also therefore correction completion within sideways markets between 7961-9119 can not be ruled out.

Correction is on and its continuation is expected. As its life and length will be decided through sustaining beyond 8269,7994 and 7961 therefore sustaining beyond these 3 levels should be firstly watched in the coming week/weeks. Above mentioned next big Trends possibilities should be kept in mind and these 3 crucial levels will give strong indications of its beginning as well as these levels will be proved those big moves decider.

Trading Calls

Pre-open Outlook(07-05-2015)

Technical Analysis and Market Outlook(04-05-2015)

Mid-session Outlook(28-04-2015)

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