Firstly watch next supports amid Negative News Globally crashing like situation

Intra Day Chart Analysis & Market Outlook

(09-07-2015)

Nifty-Intra Day Chart (08-Jul-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Firstly higher levels Mixed Patterns formations
2- Consolidation and supports between 8342-8364(Immediate Supports)
3- Follow up consolidation after recovery
4- Slipping in last hour
5- Whole day actual trading between 8342-8457

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after most Bearish Asian cues led huge gap down opening and 1.74% Red closing but selling patterns were not seen today and on the contrary consolidation with lower levels supports were also seen therefore view will not be Bearish because today huge fall was on the back of most negative Chinese news based and not on technical.

If fresh selling develops on the back of such most Bearish news flow and Nifty sustains below today lowest then Nifty will be understood sideways between 7941-8561 and down moves within this range will be considered because that will be confirmation of;-

1- Whipsaw(false signal) of Neckline break out of 31 sessions Inverted Head and Shoulders Bullish Pattern.
2- Whipsaw(false signal) break out of 54 Sessions trading range(7941-8505)

As following positive developments in previous weeks therefore view is not Bearish and still expected that fresh rally will develop in the coming sessions after follow up consolidation:-

1- whole correction from 9119.20 to 7940.30 was with Bullish Flag Pattern formation.
2- Last 14 sessions closing above Long Term Trend decider 200 Day EMA(today at 8222).

As series of negative news flow therefore Globally crashing like situation and all the Asian markets closed from 1.10% to 5.91% down today and now Dow Jones is also in Red by more than 200 points,if such fall is seen in Asian markets tomorrow also then firstly following supports should be watched:- 

1- 8300-8325
2- 8196-8261

Just Watch valid break out of 8387-8550 under the shadow of Chinese problems   

Pre-open Outlook(08-07-2015)

As sudden eruption of Chinese problems therefore all the Asian markets are 1% to 4% down today morning and in reaction huge gap down opening will be seen in Indian markets also. Chinese problems impact on Indian markets has to be understood yet and Nifty will remain sideways between 8387-8550 as well as prepare for next decisive moves within this range therefore valid break out of this range should be watched for next trend confirmations.

Finally Rally Expectations above Today Highest after Follow up Consolidations

Intra Day Chart Analysis & Market Outlook

(08-07-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling Patterns between 8540-8550(Immediate Resistances)
2- Whole day actual trading between 8484-8561

Conclusions from intra day chart analysis 

Although today closing with minor losses but higher levels selling patterns formations were also seen therefore view is cautious and follow up technical positions formations will be firstly watched tomorrow for the confirmation of next decisive moves because last confirmation is still required through sustaining above 8505 and should be firstly watched for next decisive big rally.

As Greece news led Global markets uncertainty is still alive therefore volatility may remain high and traders should be careful because in such situations both side Stop Loss are also triggered.

Whatsoever volatility but Nifty will remain sideways between 8387-8550 and prepare for next decisive moves within this range. As those Bullish patterns formations which have been updated in both previous Outlooks therefore still expected that finally rally will remain continued above today highest(8561.35) after follow up consolidations despite 1% to 2% fall at this moment in all US and European markets.

Rally continuation amid Greece news led high volatility

Intra Day Chart Analysis & Market Outlook

(07-07-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 8387-8438(Immediate Supports)
2- Up moves beginning after less down opening of European markets
3- Up moves amid Greece news led depressed most sentiments. 
4- Whole day actual trading between 8387-8533

Conclusions from intra day chart analysis 

As 'No' victory with big margin in Greece referendum therefore emergence of uncertainty and following negative trading of global markets was seen today:-

1- Most Asian markets were trading more than 1.5% down
2- European markets Futures were more than 3% negative.
3- Dow's Futures Red trading by more than 200 points.

As most dampened sentiments therefore huge gap down opening and more than 3 hours sideways trading between 8387-8438 which finally proved lower levels supports today. European markets Futures were more than 3% down today morning but markets opened .50% to 1.5% down at 12:30 PM which generated the rays of hopes in the mind of Bulls and up moves started which remain continued til the end of trading.

As lower levels supports amid most depressed sentiments and up moves continuation despite all around Global markets weakness and negative news flow as well therefore it is clear that Indian markets have shown strength today.

54 Sessions trading between 7941-8505 and today closing above it after recovery of 146 points amid most Bearish sentiments therefore emergence of strong signal for fresh up moves beginning after confirmation of sustaining above 8505.

Following lines were told yesterday in Blasting Rally towards and above Life Time High(9119.20):-

1- If 'No' comes from Greece referendum today Mid Night then a down can not be ruled out next Monday but Nifty will not sustain at lower levels 
2- emergence of strong indication of correction completion confirmations last Friday
3- emergence of correction completion strong signal at the bottom of correction at 7940.30 on 12-06-2015
4- once valid break out of 8505 will mean strong blasting rally.
5- once valid break out of 8490 will mean strong blasting rally.
6- strong Blasting rally will be seen in the coming week after all trend turning up

As Nifty could not sustain at lower levels today despite all around weakness and closed above 8505 therefore expected that rally will remain continued after follow up consolidations at higher levels but Greece issues have not resolved yet and its uncertainty led volatility may remain high.

Blasting Rally towards and above Life Time High(9119.20)

Technical Analysis,Research & Weekly Outlook

(Jul 06 to Jul 10,2015)

Waves structure of on going 5 Waves correction

Nifty-EOD Chart (03-Jul-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and 5 Waves correction beginning
2- Wave-1(8269.15 on 27-03-2015)
3- Wave-2(8844.40 on 15-04-2015)
4- Wave-3(7997.15 on 07-05-2015)
5- Wave-4(8489.55 on 22-05-2015)
6- Wave-5(7940.30 on 12-06-2015)
7- Falling Trend line of correction broken out
8- Pull Back Rally continuation with recent top formation at 8497.75 on 03-07-2015 

Conclusions from EOD chart analysis 

5 Waves of correction completed at 7940.30 on 12-06-2015 and Pull Back Rally continuation with full retracement of Wave-4(8489.55) after recent top formation at 8497.75 on 03-07-2015 but closing just below at 8484.90. It means that emergence of strong indication of correction completion confirmations last Friday.

Whole correction in Bullish Flag Pattern formation 

Nifty-EOD Chart (03-Jul-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and Correction beginning
2- Corrective Wave-5 completion at 7940.30 on 12-06-2015 and Pull Back Rally beginning
3- Whole correction in Bullish Flag Pattern formation 
4- Last 11 sessions closing above Long Term Trend decider 200 Day EMA(today at 8214).

Conclusions from EOD chart analysis 

As whole correction in Bullish Flag Pattern formation and last 11 sessions closing above Long Term Trend decider 200 Day EMA(today at 8214)therefore Long Term Trend turning up confirmation and emergence of correction completion strong signal at the bottom of correction at 7940.30 on 12-06-2015.

54 Sessions trading between 7941-8505

Nifty-EOD Chart (03-Jul-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 54 Sessions trading between 7941-8505

Conclusions from EOD chart analysis 

54 Sessions trading between 7941-8505 and last Friday closing just below the top of this range at 8484.90,once valid break out of 8505 will mean strong blasting rally.

Inverted Head and Shoulders Pattern formations

Nifty-EOD Chart (03-Jul-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Inverted Head and Shoulders Bullish Pattern formations in last 31 sessions

Conclusions from EOD chart analysis 

Bullish Inverted Head and Shoulders Pattern formations in last 31 sessions with its Neckline at 8490 and last Friday closing just below it at 8484.90, once valid break out of 8490 will mean strong blasting rally.

Conclusions (After Putting All Studies Together)

All Trends are as follows:-

1- Short Term Trend is up
2- Intermediate Term Trend is sideways which will be up above 8505.
3- Long Term Trend turned up after last 11 sessions closing above its decider 200 Day EMA(today at 8214).

As following patterns formations therefore strong blasting rally is expected:-

1- Whole correction from 9119.20 to 7940.30 is in Bullish Flag Pattern formation 
2- Falling Trend line of correction broken out
3- Inverted Head and Shoulders Bullish Pattern formations in last 31 sessions
4- Long Term Trend turning up confirmations after last 11 sessions closing above its decider 200 Day EMA(today at 8214).

As above 4 Bullish developments therefore expected that finally 54 Sessions trading range (7941-8505) will be broken out above 8505 and strong Blasting rally will be seen in the coming week after all trend turning up.

If 'No' comes from Greece referendum today Mid Night then a down can not be ruled out next Monday but Nifty will not sustain at lower levels and finally rally will develop towards and above life time high(9119.20) after whole rally(5118.85-9119.20) correction completion at 7940.30 on 12-06-2015

Some Down moves after Higher Levels Selling

Intra Day Chart Analysis & Market Outlook

(03-07-2015)

Nifty-Intra Day Chart (02-Jul-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling Patterns between 8461-8479(Immediate Resistances) 
2- Whole day actual trading between 8434-8479

Conclusions from intra day chart analysis 

Whole day sideways trading within 45 points with higher levels selling Patterns formations therefore expected that Nifty will slip below today lowest(8433.20). If follow up selling develop tomorrow then deeper correction will be considered because today selling was seen within previous resistance range(8440-8486).

Confirm Next moves from Levels amid Greek Drama Volatility 

Intra Day Chart Analysis & Market Outlook

(02-07-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Sufficient intraday corrections
3- Whole day actual trading between 8371-8481

Conclusions from intra day chart analysis 

As positive news flow from Greece therefore whole day up moves but in Bearish Rising Channels and sufficient intraday corrections for consolidation were also seen therefore sinals of rally continuation. Last 8 sessions trading between 8196-8423 and Nifty traded more than 3 hours as well as closed above it but follow up consolidation is still required because slipping in last hour from higher levels within next strong resistance range(8440-8486).

As last 3 sessions trading was under the shadow of Greek Drama with high volatility and today up moves were also on the back of following positive news from Greece. 

Greece asks for new bailout — its third — at 11th hour

Greece Govt is taking U-Turn also from their today morning proposals and hours after telling Europe he could accept most of the conditions of a bailout he previously rejected, Prime Minister Alexis Tsipras urged Greeks to vote against it. Just click follow topic link for today evening statement on Greece Prime Minister

Greek leader flip-flops on bailout - again

News based and not technical based volatile market in this week and such uncertainty may be seen in next 2 sessions also because picture will be clear after referendum in Greece on 5th July therefore finally sustaining beyond 8414-8486 should be firstly watched for next immediate moves confirmations:-

1- Above 8486 will mean clearing of last resistance and strong rally after all trends turning up confirmations at 8505.
2- Below 8414 will mean fresh down moves after facing resistance between 8440-8486.

As we are still expecting up moves therefore repeating following conclusions also for next trend confirmations which were updated in previous week:-

Following conclusive lines were told on 25-06-2015 in "Fresh Rally Expectations from Next Week":-

As per our view Indian markets are well prepared for fresh rally and only negative news from Greece may create a hurdle but even though we are expecting that finally as such negative news will not come from Greece and fresh rally will be seen above 8486/8505 in next week.

Following conclusive lines were told on 26-06-2015 in "Rally continuation towards Life Time High after Bullish Pattern formations":-

As Whole correction in Bullish Flag Pattern formation , Falling Trend line of correction also broken out in previous week and last 2 sessions good intraday  consolidations therefore expected that on going rally will remain continued above 8505 in the coming week but after fresh follow up consolidations because strong resistances are lying between 8440-8486 

Just Watch 8 Sessions Range for Next Big Trend Confirmations

Intra Day Chart Analysis & Market Outlook

(01-07-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 4 hours trading with mixed Patterns between 8308-8348 
2- Whole day actual trading between 8308-8378

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day after good recovery from lower levels but as such good consolidation was not seen and on the contrary first 4 hours trading with mixed Patterns between 8308-8348 therefore final view can not be formed from today intraday charts analysis. As last hours up moves were after following developments also therefore clear consolidation is firstly required tomorrow for sustaining above today highest:-

1- Dow Futures suddenly moves up 100 points and sentiment boosted.
2- News on Business channels signalling some positive developments regarding Greece Crisis.

As today trading psychology was Greece news affected therefore technical positions understanding becomes tough and follow up moves will be firstly watched tomorrow then final view will be formed. Finally sustaining beyond last 8 sessions range(8196-8423) will decide next big trend and should be watched for final confirmations.

Just Watch Crucial levels for Next Big Trend amid Greek Drama

Intra Day Chart Analysis & Market Outlook

(30-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 8196-8261(Immediate Supports)
2- Consolidation Patterns between 8303-8329
3- Whole day actual trading between 8195-8329

Conclusions from intra day chart analysis 

Following lines were told today at 06:40 AM in "Greece debt crisis & Asian markets crashed ":-

Next supports are lying between 8196-8251 and sustaining it beyond will decide the impact of Greece Crisis on Indian markets and next trend as well.

Supports were told above 8196 and today lowest formations at 8195.65 as well as follow up supports between 8196-8261 today therefore today this supports range has developed as strong supports. Last 5 sessions trading between 8196-8423 with both consolidation and selling patterns formations within this range as well as next resistances between 8440-8486 are also lying just above 8423 therefore more consolidation will be firstly required for fresh rally 8486 and next big trend will be decided through sustaining beyond 8196-8486.

As Greece debt crisis led high uncertainty and all the global markets trembled today as well as settling down is firstly required therefore view is cautious and follow up moves will be firstly watched in the coming sessions and if follow up consolidation develops then rally above 8423/8486 will be considered.

As consolidation Patterns formations also between 8303-8329 in last hour today therefore sustaining beyond this range should be firstly watched tomorrow for next trend first indication. As support between 8196-8261 has developed strong therefore until complete selling will not develop till then Nifty will not slip below 8196 and it should be kept in mind that once sustaining below 8196 will mean deeper correction. If finally Nifty survives above 8196 amid such high Global crashing markets then strong rally is confirm above 8423/8486/8505 after all trend turning up confirmations.

As Greece is showing rigid attitude and situation is worsening therefore view is cautious and follow up moves with sustaining beyond following crucial levels will decide next big trend and should be firstly watched tomorrow:-

1- 8303-8329(first indication)
2- 8196-8423 (confirmation)

Greece debt crisis & Asian markets crashed 

Pre-open Outlook(29-06-2015)

As no positive decision regarding Greece in last 2 days and following negative developments therefore all the Asian markets have crashed:-

1- Greece debt crisis: Eurozone refuses bailout extension
2- Greek debt crisis: Banks to stay shut, capital controls imposed
3- Parliament approves referendum as Greece's future hangs in the balance

Dow's Futures is also trading 250 points down and sentiment is completely depressed today morning therefore gap down opening will be seen in Indian markets also. Next supports are lying between 8196-8251 and sustaining it beyond will decide the impact of Greece Crisis on Indian markets and next trend as well.

Rally continuation towards Life Time High after Bullish Pattern formations

Technical Analysis,Research & Weekly Outlook

(Jun 29 to Jul 03,2015)

Nifty-EOD Chart (26-Jun-2015):-

Just click on chart for its enlarged view

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)(Correction beginning)
7- Wave-1(8269.15 on 27-03-2015)
8- Wave-2(8844.40 on 15-04-2015)
9- Wave-3(7997.15 on 07-05-2015)
10- Wave-4(8489.55 on 22-05-2015)
11- Wave-5(7940.30 on 12-06-2015)
12- Pull Back Rally continuation with recent top formation at 8423.15 on 25-06-2015 

Conclusions from EOD chart analysis

That Wave-1 which started on 28-08-2013 from 5118.85 completed at 9119.20 on 04-03-2015 after 5 waves formation and correction started. Wave-5 of correction completed at 7940.30 on 12-06-2015 and now Pull Back Rally continuation with recent top formation at 8423.15 on 25-06-2015. 

Waves structure of on going 5 Waves correction

Nifty-EOD Chart (26-Jun-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and 5 Waves correction beginning
2- Wave-1(8269.15 on 27-03-2015)
3- Wave-2(8844.40 on 15-04-2015)
4- Wave-3(7997.15 on 07-05-2015)
5- Wave-4(8489.55 on 22-05-2015)
6- Wave-5(7940.30 on 12-06-2015)
7- Pull Back Rally continuation with recent top formation at 8,250.80 on 19-06-2015 

Conclusions from EOD chart analysis 

5 Waves of correction completed at 7940.30 on 12-06-2015 and Pull Back Rally is on but correction completion confirmation is still required because Nifty has to correct 4000 points points 18 months rally and as such price-wise or time-wise correction has not been seen yet.

Whole correction in Bullish Flag Pattern formation 

Nifty-EOD Chart (26-Jun-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-4 completion at 7961.35 on 17-12-2014 and Wave-5 beginning
2- Wave-5 completion at 9119.20 on 04-03-2015 and Correction beginning
3- Corrective Wave-5 completion at 7940.30 on 12-06-2015 and Pull Back Rally beginning
4- Wave-5 completely retraced in correction after slipping below 7961.35  
5- Whole correction in Bullish Flag Pattern formation 

Conclusions from EOD chart analysis 

As Wave-5 completely retraced and whole correction was in Bullish Flag Pattern formation therefore emergence of correction completion strong signal at the bottom of correction at 7940.30 on 12-06-2015.

Fall Trend line of correction broken out

Nifty-EOD Chart (26-Jun-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-4 completion at 7961.35 on 17-12-2014 and Wave-5 beginning
2- Wave-5 completion at 9119.20 on 04-03-2015 and Correction beginning
3- Corrective Wave-5 completion at 7940.30 on 12-06-2015 and Pull Back Rally beginning
4- Pull Back Rally continuation with recent top formation at 8423.15 on 25-06-2015 
5- Last 6 sessions closing above Long Term Trend decider 200 Day EMA(today at 8204).
6- Fall Trend line of correction broken out and last 5 sessions closing above it. 

Conclusions from EOD chart analysis 

Fall Trend line of correction broken out and last 5 sessions closing above it as well as last 6 sessions closing above Long Term Trend decider 200 Day EMA(today at 8204) therefore strong signals of Long Term Trend turning up after correction completion. 

Last 4 sessions intraday charts Analysis

Nifty-Intra Day Chart (Jun 23 to Jun 26,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 4 Sessions intraday charts

1- Selling between 8385-8398 on 23-06-2015
2- Selling between 8393-8421 on 24-06-2015
3- Consolidation between 8340-8372 on 25-06-2015
4- Consolidation between 8387-8405 on 25-06-2015
5- Consolidation between 8340-8380 on 26-06-2015
6- 4 Sessions actual trading between 8335-8423 

Conclusions from 4 Sessions intra day chart analysis 

Although first 2 sessions selling but last 2 sessions good consolidations also in last 4 sessions therefore valid break out of last 4 sessions will be next trend confirmations and should be firstly watched in next week but finally up moves above 4 sessions highest(8423) is expected because good consolidation seen in last 2 sessions.

Intra Day Chart Analysis(29-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8340-8380(Immediate Supports)
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8340-8408

Conclusions from intra day chart analysis

As negative news regarding Greece crisis therefore firstly negative zone trading and slipping from intraday higher levels after 11 AM but in Bullish Falling Channel and lower levels good consolidation also therefore finally up moves are expected above day's highest(8408.55) despite whatsoever solution of Greece financial problems on 27th and 28th June 2015.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend is up
2- Intermediate Term Trend is down which will be up above 8505.
3- Long Term Trend decider 200 Day EMA(today at 8204) broken out and last 6 sessions closing above it as well as once 3%(8440) moves above it will mean Long Term Trend turning up confirmations.

As Whole correction from 9119.20 to 7940.30 is in Bullish Flag Pattern formation and Falling Trend line of correction broken out as well as last 5 sessions closing above it therefore strong signals of fresh rally above life time high(9119.20) after that rally correction completion which started from 5118.85 on 28-08-2013 and completed at 9119.20 on 04-03-2015.

Following confirmations are still required for 100% confirmation of correction completion:-

1- Valid break out of next resistances(8440-8486)
2- 3%(8440) Moves above Long Term Trend decider 200 Day EMA breaking out level.
3- Intermediate Term Trend turning up through moving above 8505

Sustaining above next resistance range(8440-8486) will mean Long Term Trend turning up confirmation and in that situation Intermediate Term Trend will also be up above 8505 therefore only break out of 8505 should be watched in the coming week for fresh rally towards life time high(9119.20) after all trends turning up confirmations.

As Whole correction in Bullish Flag Pattern formation , Falling Trend line of correction also broken out in previous week and last 2 sessions good intraday  consolidations therefore expected that on going rally will remain continued above 8505 in the coming week but after fresh follow up consolidations because strong resistances are lying between 8440-8486  

Next support levels of Nifty will decide Greece Crisis impact on Indian markets.

Post-open Outlook(26-06-2015)

All the Global markets including Indian markets are reacting on Greece Crisis and trading in Red. Just click following topic Link and go through full news which was updated 11 hours before in bbc.com:- 

Greece debt talks: Crisis deepens amid deadlock

Indian markets are also down immediately after opening and Nifty tested following next supports:- 

Supports between 8340-8372

Finally sustaining beyond above support levels will decide Greece Crisis reaction on Indian markets therefore should be firstly watched now. As some supports between 8353-8361 today therefore sustaining it beyond will be first signal.

Fresh Rally Expectations from Next Week

Intra Day Chart Analysis & Market Outlook

(26-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8340-8372(Immediate Supports)
2- Consolidation between 8387-8405(Immediate Supports)
3- Whole day actual trading between 8340-8423

Conclusions from intra day chart analysis 

As yesterday steep fall in last hour yesterday and uncertainty due to Greece Crisis therefore weak opening today but whole day good consolidation therefore emergence of fresh up moves possibility above today highest(8423). Last 2 sessions of all the global markets were Greece news led highly volatile and such volatility may be seen tomorrow also because final decision will come on next Saturday or Sunday.

Selling patterns between 8393-8421 yesterday and Nifty could not sustain above it today as well as closed near the lower levels of this range. Although good consolidation today but following resistances are lying above today closing:-

1- Resistances between 8393-8421
2- Resistances between 8440-8486(strong)

8 Sessions rally from 12-06-2015 to 23-06-2015 and its correction was seen yesterday but lower levels good consolidation and strong recovery was also seen today therefore if follow up consolidation develops tomorrow then Nifty will test above mentioned 2nd resistance as well as cross also.

As per our view Indian markets are well prepared for fresh rally and only negative news from Greece may create a hurdle but even though we are expecting that finally as such negative news will not come from Greece and fresh rally will be seen above 8486/8505 in next week.

Sideways Market Correction require Fresh Consolidation for its Completion

Intra Day Chart Analysis & Market Outlook

(25-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 4 Hours up moves in Bearish Rising Channel between 8393-8421 
2- Steep fall in last hour
3- Whole day actual trading between 8339-8421

Conclusions from intra day chart analysis 

Following lines were told yesterday in "View is Cautious after Higher Levels Selling Patterns Formations":-

1-As selling patterns formations at higher levels today therefore some down moves may be seen tomorrow
2-finally sustaining beyond 8335-8505 will decide those next moves

As was told 100% same happened and:-

1- Sharp down moves were seen in last hour today
2- Sustaining beyond 8335-8505 was told and Nifty could not slip below 8335 despite sharp fall today.

Following lines were told on 22-06-2015 in "Fresh Rally Expectations after follow up Consolidation between 8340-8505":-

Expected that Nifty will firstly trade and prepare for next big moves between 8340-8505 in the coming sessions and once sustaining beyond this range will decide:-

1- Correction continuation towards or below 7940.30.  
2- Fresh rally towards or above 9119.20. 

As good selling between 8393-8421 therefore this range will be immediate resistance and following levels will result today started down moves continuation:- 

1- 8340
2- 8200(200 Day EMA)

Last 15 Sessions trading between 7941-8421 with lower levels good consolidations and next resistances above 8421 are between 8440-8486 but therefore Nifty will remain sideways between 7941-8486 and finally valid break out of this range will decide next trend.

Correction of last 8 sessions rally was seen today and its continuation can not be ruled out tomorrow as well as until fresh consolidation will not develop till then its completion will not be considered.

Today started sideways market(7941-8486) correction is demanding fresh consolidation for its completion and till then its continuation will be expected towards next supports above 7941.. 

View is Cautious after Higher Levels Selling Patterns Formations

Intra Day Chart Analysis & Market Outlook

(24-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 8385-8398(Immediate Resistances)
2- Whole day actual trading between 8335-8398

Conclusions from intra day chart analysis 

Following lines were told today at 11:49 AM in "Mid-session Outlook(23-06-2015)":-

selling patterns formations between 8385-8398

As selling patterns developed between 8385-8398 in first 2 hours today therefore Nifty could not move above 8398 and follow up selling was again seen within 8385-8398 in last 3 hours today therefore this range is immediate Resistance and follow up consolidation is firstly required for fresh rally above today highest 8398.45.

Following lines were told yesterday in "Fresh Rally Expectations after follow up Consolidation between 8340-8505":-

Nifty will firstly trade and prepare for next big moves between 8340-8505 in the coming sessions 

Nifty traded almost whole day within this mentioned range between 8335-8398 with higher levels selling therefore view is cautious because resistances are lying above today highest between 8440-8486. 

As selling patterns formations at higher levels today therefore some down moves may be seen tomorrow but finally sustaining beyond 8335-8505 will decide those next moves which have already been updated yesterday in "Fresh Rally Expectations after follow up Consolidation between 8340-8505"

Mid-session Outlook(23-06-2015)

Although Positive zone trading but higher levels selling patterns formations between 8385-8398 today therefore firstly follow up consolidation and sustaining above today highest is must for fresh rally because resistances are lying above today highest between 8440-8486.

Fresh Rally Expectations after follow up Consolidation between 8340-8505

Intra Day Chart Analysis & Market Outlook

(23-06-2015)

Nifty-Intra Day Chart (22-Jun-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day up moves in Broadening Pattern
2- Whole day actual trading between 8258-8369

Conclusions from intra day chart analysis 

Following lines were told on 20-06-2015 in "Pull back rally continuation towards Next Resistances":-

strong rally possibility towards following next resistances:- 

1- Resistances between 8355-8400
2- Resistances between 8440-8486(strong)

As was told 100% same happened today and Pull back rally remain continued towards above mentioned resistance and closed just below 1st resistance at 8353.10 after intraday highest formation within 1st resistance at 8369.45.  

As resistances are lying just above today highest and Very Short Term Indicators are overbought after today strong rally therefore follow up consolidation is firstly required tomorrow for fresh rally and sustaining above mentioned resistances(8486). 

As 11 Sessions trading range(7941-8191) broken out after lower levels good consolidations within this range and forcefully crossing of Long Term Trend decider 200 Day EMA(today at 8197) in last 2 sessions therefore once sustaining above 2nd resistance(8440-8486) will mean:-

1- Strong possibility of correction completion at 7940.30 on 12-06-2015. 
2- Strong possibility of that rally correction completion which started from 5118.85 on 28-08-2013 and completed at at 9119.20 on 04-03-2015.

Intermediate Term Trend will be up above 8505 and once sustaining above 2nd resistance(8440-8486) will mean all trends turning up confirmations therefore resultant fresh rally will be seen after above life time high(9119.20) after 5 waves correction completion confirmations.  

Expected that Nifty will firstly trade and prepare for next big moves between 8340-8505 in the coming sessions and once sustaining beyond this range will decide:-

1- Correction continuation towards or below 7940.30.  
2- Fresh rally towards or above 9119.20. 

As 11 Sessions trading range(7941-8191) forcefully broken out after lower levels good consolidations within this range therefore expected that Nifty will trade and sustain above 8505 as well as fresh rally will be seen towards and above 9119.20 after follow up consolidation between 8340-8505 in next 2/3 sessions. 

Pull back rally continuation towards Next Resistances

Technical Analysis,Research & Weekly Outlook

(Jun 22 to Jun 26,2015)

Nifty-EOD Chart (19-Jun-2015):-

Just click on chart for its enlarged view

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)(Correction beginning)
7- Wave-1(8269.15 on 27-03-2015)
8- Wave-2(8844.40 on 15-04-2015)
9- Wave-3(7997.15 on 07-05-2015)
10- Wave-4(8489.55 on 22-05-2015)
11- Wave-5(7940.30 on 12-06-2015)
12- Pull Back Rally continuation with recent top formation at 8,250.80 on 19-06-2015 

Waves structure of on going 5 Waves correction

Nifty-EOD Chart (19-Jun-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and 5 Waves correction beginning
2- Wave-1(8269.15 on 27-03-2015)
3- Wave-2(8844.40 on 15-04-2015)
4- Wave-3(7997.15 on 07-05-2015)
5- Wave-4(8489.55 on 22-05-2015)
6- Wave-5(7940.30 on 12-06-2015)
7- Pull Back Rally continuation with recent top formation at 8,250.80 on 19-06-2015 
8- Long Term Trend decider 200 Day EMA(today at 8196) broken out on 19-06-2015

Last 12 sessions intraday charts Analysis

Nifty-Intra Day Chart (Jun 04 to Jun 19,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 12 Sessions intraday charts

1- 11 Sessions actual trading between 7941-8191 with lower levels consolidations.
2- Gap up opening on 19-06-2015
3- 12 Sessions actual trading between 7941-8250 

Conclusions from 12 Sessions intra day chart analysis 

11 Sessions actual trading between 7941-8191 with lower levels good consolidations and after that this range was broken out forcefully on 19-06-2015 as well as closed with sufficient gains therefore emergence of fresh and strong rally possibilities above 11 Sessions highest(8191) 

Intra Day Chart Analysis(19-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 8196-8214 
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Good intraday correction
5- Whole day actual trading between 8196-8251

Conclusions from intra day chart analysis 

Firstly gap up opening and after that good consolidation as well as Down moves were also seen in Bullish Falling Channel at higher levels in first 4 hours therefore up moves started from lower levels of the day. As up moves in Bearish Rising Channel were also seen up to higher levels of the day therefore sharp intraday correction was seen and Nifty has prepared for fresh up moves above the highest(8251) of the day.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend is up
2- Intermediate Term Trend is down which will be up above 8505.
3- Long Term Trend decider 200 Day EMA(today at 8196) broken out on 19-06-2015 and its turning up confirmation is required through sustaining above 8196

5 Waves correction started from 9119.20 on 04-03-2015 and its 5th wave recent bottom formation at 7940.30 on 12-06-2015,after that Pull Back Rally begun which formed recent top at 8250.80 on 19-06-2015. As 11 Sessions trading range(7941-8191) broken out forcefully and Nifty traded whole day above it as well as Long Term Trend decider 200 Day EMA(today at 8196) therefore emergence of Long Term Trend turning up indications. 

Wave-1 started on 28-08-2013 from 5118.85 and its 5th wave completed on 04-03-2015 at 9119.20 and 5 Waves correction begun as well as its 5th Wave correction completion indications after 11 sessions range and 200 Day EMA break out in previous week. Once sustaining above 200 Day EMA(today at 8196) will mean Long Term Trend turning up confirmations and resultant strong rally possibility towards following next resistances:- 

1- Resistances between 8355-8400
2- Resistances between 8440-8486(strong)

As Intermediate Term Trend will be up above 8505 therefore once sustaining above 2nd resistance will mean sustaining above 8505 confirmations also and then rally above all time highest(9119.20) will be seen after all trends turning up and 5 waves correction completion confirmations.

Expected that on going Pull back rally will remain continued towards above mentioned 2nd resistance(8440) in next week and we are seeing possibility of rally above 8505 also.

8195 will be Next Big Trend Decider

Intra Day Chart Analysis & Market Outlook

(19-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 55 Points sharp jump towards 8146 in first 15 minutes.
2- Whole day up moves in Rising Channel with some selling patterns but sufficient intraday corrections also within channel
3- Whole day actual trading between 8102-8186

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Rally above today highest(8136.85) after follow up consolidations":-

finally rally above today highest(8,136.85) is still expected in the coming sessions

As was told 100% same happened and Nifty crossed 8,136.85 in first 9 minutes as well as sharply jumped 55 points towards 8146 within first 15 minutes

More than 6 hours continuous up moves in Rising Channel with some selling patterns but sufficient intraday corrections also within channel therefore one sided patterns not formations and valid break out of this channel will decide following next trend:-

1- Upper rising line break out will mean testing of Long Term Trend decider 200 Day EMA(today at 8195) and once sustaining above 8195 will mean Long Term Trend turning up confirmation as well as fresh rally after strong signal of on going correction completion.
2- Lower rising line break down will mean down moves towards the bottom(7940.30) of on going correction after on going Pull Back Rally termination.

At present Pull Back Rally continuation with today highest at 9186 and next resistance is at 8192 as well as Long Term Trend decider 200 Day EMA is just above it at 8195. Once sustaining above 8195 will mean Long Term Trend turning up confirmation and resultant strong rally possibility towards next resistances at 8360. If Nifty fails to sustain above 8192 and after that lower line of today Rising Channel broken down also then same Bearish moves will be seen which have already been updated above.

As Long Term Trend decider 200 Day EMA(8195) will decide next Big moves therefore should be firstly watched in the coming sessions.

Rally above today highest(8136.85) after follow up consolidations

Intra Day Chart Analysis & Market Outlook

(18-06-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8048-8077
2- Selling between 8106-8136
3- Whole day actual trading between 8048-8136

Conclusions from intra day chart analysis 

It was expected that Nifty will prepare today for post FOMC decisive moves between and near about 7953-8061 and forceful moves beyond 7941-8057 will be seen after FOMC announcements on 18th June but good up moves were seen after first 4 hours lower levels consolidation today. 

As more than 24 hours trading between 7941-8057 in last 4 sessions with lower levels good consolidation therefore following conclusive moves were updated yesterday in "17th June will be Post FOMC forceful Moves preparation Day":-

if selling does not develop tomorrow then strong rally will begin on the 18th June despite whatsoever announcements from FOMC on 17th night.

Rally was expected on 18th June after FOMC but it was seen today and finally technical positions of last 5 sessions have developed as follows:-

1- Consolidation between 7941-8006 from 11-06-2015 to 16-06-2015
2- Consolidation between 8048-8077 on 17-06-2015
3- Selling between 8106-8136 on 17-06-2015

As good consolidation at lower levels in last 5 sessions and selling also at higher levels today therefore consolidation is firstly required between and near about today trading range(8048-8136) but finally rally above today highest(8,136.85) is still expected in the coming sessions despite following negative developments:-

1- FII selling by 940.91 Cr in Indian markets today 
2- All European markets closing in Red today.
3- US markets trading in negative zone at this moment.