Pre-open Outlook(19-10-2015)

As Dow's Futures is trading 52 points down and most Asian markets are also in Red, resultant sentiment is little depressed today morning therefore weaker opening will be seen in Indian markets also. Good consolidation between 8148-8180 on 16-10-2015 therefore expected that finally rally will be seen after follow up consolidation above 8148 and until Nifty will not sustain below it after complete selling till then any decisive down moves will not be seen.

Only One Last Confirmation will result Much Much Strong Rally

Technical Analysis,Research & Weekly Outlook

(Oct 19 to Oct 23,2015)

Nifty-EOD Chart (16-Oct-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 and 'ABC' correction beginning)
7- Wave-A(7940.30 on 12-06-2015) 
8- Wave-B(8654.75 on 23-07-2015)
9- Wave-C(7539.50 on 08-09-2015) 
10- Rally continuation after 'ABC' correction completion with recent top formation at 8246.40 on 16-10-2015

Conclusions from EOD chart analysis 

That Wave-1 which started on 28-08-2013 from 5118.85 gained 4000 points and completed at 9119.20 on 04-03-2015 after many times new life times high formation and then that its 'ABC' correction started which completed at 7539.50 on 08-09-2015 and now fresh rally is on with recent top formation at 8346.40 on 16-10-2015. 

Waves structure of correction

Nifty-EOD Chart (16-Oct-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 Wave-A of 'ABC' correction beginning after life time high formation)
2- Wave-A(7940.30 on 12-06-2015) 
3- Wave-B(8654.75 on 23-07-2015)
4- Wave-C(7539.50 on 08-09-2015) 
5- Rally continuation after 'ABC' correction completion with recent top formation at 8246.40 on 16-10-2015
6- Strong signals of Long Term Trend turning up after forceful closing above its decider 200 Day EMA(today at 8183) on 16-10-2015. 

Conclusions from EOD chart analysis 

As correction started on 04-03-2015 from 9119.20 after 5 Waves completion of that 4000 points rally which started 5118.85 on 28-08-2013 therefore deeper correction was imminent which lasted 6 months from  04-03-2015 to 08-09-2015 in 'ABC' correction pattern. 

Fresh rally started after 'ABC' correction completion at 7539.50 on 08-09-2015 which is now in continuation with previous closing above Long Term Trend decider 200 Day EMA(today at 8183) at 8238.15. Last confirmation of correction completion is sustaining above 200 Day EMA which will mean fresh rally above life time high(9119.20) 

37 Sessions trading range broken out confirmation

Nifty-Intra Day Chart (Aug 21 to Oct 16,2015):-

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Technical Patterns and Formations in last 37 Sessions intraday charts

1- 165 Points gap down opening on 24-08-2015
2- 27 Sessions actual trading between 7540-8092 from 24-08-2015 to 01-10-2015
3- 27 Sessions trading range broken out on 05-10-2015 
4- 9 Sessions sideways market between 8089-8245  
5- Previous closing near the top of 9 Sessions market

Conclusions from 37 Sessions intra day chart analysis 

165 Points gap down opening on 24-08-2015 and after that Nifty remained sideways in next 27 Sessions between 7540-8092 from 24-08-2015 to 01-10-2015. This range was forcefully broken out on 05-10-2015 and after that last 9 sessions sideways market between 8089-8245 as well as previous closing near top of 9 sessions range.

As break out confirmation of 27 sessions range does mean fresh strong rally and that is expected after getting it. 

Previous 10 Sessions sideways market Analysis

Nifty-Intra Day Chart (Oct 05 to Oct 16,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 10 Sessions intraday charts

1- Forceful break out on 05-10-2015 
2- Last 9 sessions Sideways market between 8089-8246 with higher levels selling and lower levels good buying
3- 9 Sessions actual trading between - 

Conclusions from 10 Sessions intra day chart analysis

Last 9 sessions Sideways market between 8089-8246 with higher levels selling and lower levels good buying after 27 sessions range forceful break out on 05-10-2015

As strong rally in last hours of previous session and closing near the top of 9 Sessions range after new high(8246.40) formation of last 10 sessions range as well as closing above the last resistances(8185-8230) therefore strong indications of fresh rally after break out of 9 sessions range.

Intra Day Chart Analysis(19-10-2015)

Nifty-Intra Day Chart (16-Oct-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 4 Hours consolidation between 8148-8180(Immediate Supports)
2- Sharp 45 points up in 10 minutes
3- Whole day actual trading between 8148-8246
4- Strong rally in last hours on 16-10-2015

Conclusions from intra day chart analysis 

As strong up moves in last hours after first 4 hours consolidation therefore it is a clear signal of rally continuation and until Nifty will not sustain below day's lowest after complete selling till then any decisive down moves will not be seen.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Short Term Trend is up
2- Intermediate Term Trend is up
3- Long Term Trend is up but its confirmation is still required through sustaining above its decider 200 Day EMA(today at 8183). 

As 'ABC' correction of that 4000 points rally was started which was 18 months long also therefore as such long correction was to be seen and that happened also through 1579 points and 6 months long down moves up to 7539.50 on 08-09-2015. In the same manner complete consolidation was also must for correction completion and that was also seen through 27 sessions sideways market near the bottom of correction between 7540-8092 from 24-08-2015 to 01-10-2015.

Forceful break out of 27 sessions sideways market was seen on 05-10-2015 but again market turned sideways between 8089-8246 in last 9 sessions. As strong rally was seen on 16-10-2015 after lower levels good consolidation and closing was also near the higher levels of last 9 sessions trading range with new 9 sessions intraday highest formations therefore rally continuation is expected in the beginning of next week. 

Now all trends are up but only Long Term Trend turning up confirmation is still required through sustaining above its decider 200 Day EMA(today at 8183). As no selling signals have been seen yet therefore rally continuation will be seen but minor intraday or very short term correction may be seen any day because sentiment has turned heated after last Friday strong rally.

As 27 sessions trading range break out has got confirmation which means 4000 points rally correction completion also therefore only last confirmations through sustaining above 200 Day EMA(today at 8183) is left and that should be firstly watched for that strong rally which will remain continued much much above life time high(9119.20).   

Intra Day Chart Analysis & Market 

Outlook(16-10-2015)

Nifty-Intra Day Chart (15-Oct-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- More than 50 points up moves in first minute.
2- More than 5 hours trading between 8164-8190
3- Down moves in Bullish Falling Channel
4- Up moves in Bearish Rising Channel
5- Intraday corrections at higher levels in last hours
6- Whole day actual trading between 8130-8190

Conclusions from intra day chart analysis 

Following supports and resistances within this range of 8089-8245 were updated on 13-10-2015 in "Finally Watch 8089-8245 for Next Blasting Moves":-

1- Supports between 8089-8139
2- Resistances between 8185-8230

Nifty got supports within mentioned supports yesterday but could not sustain within mentioned resistances and closed below its lowest(8185) today because Up moves in Bearish Rising Channel were also seen at higher levels today. As more than 5 hours trading between 8164-8190 with good consolidation patterns formations within this range therefore hopes of rally continuation are alive but more follow up consolidation is still required for blasting rally above the top(8245) of last 7 sessions trading range because:-

1- Up moves in Bearish Rising Channel at higher levels today
2- Some profit booking also can not be ruled out today on the back of strong Global markets led heated sentiments.
3- Resistances between 8185-8230 are above today highest. 

As one sided technical positions have not developed yet and more consolidation is still required for valid break out of last 7 sessions range top(8245) therefore sideways market within mentioned last 7 sessions trading range(8089-8245) is still expected tomorrow. 

Live Proofs of 100% Accurate Predictions 

 We were not  Bearish despite following negative developments yesterday and Nifty traded 50 points up in first minute today:-

1- Dow Jones was trading more than 100 down 
2- Most Asian markets .47% to 1.89% negative closing
3- European markets closed .71% to 1.16% down
4- FIIs sold Index Futures yesterday- Rs 873 cr
5- FIIs sold Stock Futures yesterday- Rs 688 cr

As intraday charts have not shown selling patterns therefore we told following lines at 10:22 PM yesterday in "Firstly Watch supports at 8089 amid deep Red Global markets":-

1- view will not be Bearish
2- Today intraday patterns have not shown as such selling patterns formation and on the contrary above mentioned Bullish patterns were also seen
3- Nifty traded whole day above the last 6 sessions lowest(8089) with above mentioned consolidation patterns formations today
4- if Global markets remain in deep Red tomorrow morning then firstly follow up selling with sustaining below 8089 should be watched 

Firstly Watch supports at 8089 amid deep Red Global markets

Intra Day Chart Analysis & Market Outlook

(15-10-2015)

Nifty-Intra Day Chart (14-Oct-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Up moves with sufficient intraday corrections
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8097-8139

Conclusions from intra day chart analysis

Although most of the time negative zone trading and closing near the lower levels of the day today but view will not be Bearish because following intraday positive developments were also seen today:-

1- Indian markets outperformed Global cues because Indian markets traded whole day flat to minor down despite most Asian markets .47% to 1.89% negative closing and all the European markets more than .50% down trading.
2- Today intraday patterns have not shown as such selling patterns formation and on the contrary above mentioned Bullish patterns were also seen.

As Dow jones is trading more than 100 down at this moment and all the European markets closed .71% to 1.16% down therefore if such weakness will be seen in Asian markets also tomorrow then gap down opening may be seen in Indian markets but above mentioned Bullish patterns were also seen today therefore until Nifty will not sustain below 8089 till then decisive down moves will not be seen. 

Following conclusive  were told yesterday in "Finally Watch 8089-8245 for Next Blasting Moves":-

As both higher levels good selling and lower levels equally good buying seen in last 6 sessions between 8089-8245 therefore Nifty will trade within this range in the coming sessions and once valid break out of this range will decide one sided blasting moves because 

1- That will be confirmation of Long Term Trend turning up above 8245 after correction completion at 7540 on 08-09-2015. 
2- That will be confirmation of Long Term Trend remaining down below 8089 and false break out confirmation of 27 Sessions trading range(7540-8092) also.
Nifty traded whole day above the last 6 sessions lowest(8089) with above mentioned consolidation patterns formations today therefore if Global markets remain in deep Red tomorrow morning then firstly follow up selling with sustaining below 8089 should be watched for above mentioned decisive blasting down moves confirmations.

Finally Watch 8089-8245 for Next Blasting Moves

Nifty-Intra Day Chart (Aug 21 to Oct 14,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 35 Sessions intraday charts

1- 165 Points gap down opening on 24-08-2015
2- 27 Sessions actual trading between 7540-8092 from 24-08-2015 to 01-10-2015
3- 27 Sessions trading range broken out on 05-10-2015 
4- Sideways market between 8089-8245 after 27 sessions break out in last 6 sessions 
5- Long Term Trend decider 200-Day EMA(today at 8183) is lying within last 6 sessions trading range. 

Nifty-Intra Day Chart (Oct 05 to Oct 14,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 7 Sessions intraday charts

1- Forceful break out on 05-10-2015 
2- Last 6 sessions Sideways market between 8089-8245 with higher levels selling and lower levels good buying

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8110-8129
2- Consolidation between 8089-8104
3- Whole day actual trading between 8089-8150

Conclusions (After Putting All Studies Together)

16 Months long 4000 Points strong rally from 28-08-2013 to 04-03-2015 between 5118.85-9119.20 with many times new life times high formation and after that its 'ABC' correction begun which formed bottom at 7540 on 08-09-2015. 

165 Points gap down opening on 24-08-2015 and after that Nifty remained sideways in next 27 Sessions between 7540-8092 from 24-08-2015 to 01-10-2015. This range was broken out forcefully on 05-10-2015 and after that last 6 sessions sideways market between 8089-8245 with higher levels selling and lower levels good buying, supports and resistances within this range are as follows:-

1- Supports between 8089-8139
2- Resistances between 8185-8230

Intermediate and Short Trends are up and Long Term Trend is sideways because Nifty is hovering around its decider 200-Day EMA(today at 8183) for last 6 sessions in its sideways market between 8089-8245.

As both higher levels good selling and lower levels equally good buying seen in last 6 sessions between 8089-8245 therefore Nifty will trade within this range in the coming sessions and once valid break out of this range will decide one sided blasting moves because 

1- That will be confirmation of Long Term Trend turning up above 8245 after correction completion at 7540 on 08-09-2015. 
2- That will be confirmation of Long Term Trend remaining down below 8089 and false break out confirmation of 27 Sessions trading range(7540-8092) also.

Finally watch 8089-8245 for next blasting moves.

Intra Day Chart Analysis & Market 

Outlook(13-10-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8199-8219
2- Whole day down moves in Bullish Falling Channel
3- Whole day actual trading between 8129-8245

Conclusions from intra day chart analysis 

As all the Asian markets were trading in Green and some markets were strong also therefore positive opening of Indian markets but selling was also seen between 8199-8219 immediately after opening. Some selling was also seen between 8206-8232 last Friday and follow up selling developed within this range today therefore 8199-8232 has developed immediate resistance range and some more consolidation is firstly required to cross and sustain above 8232.

As whole day down moves were also seen in Bullish Falling Channel after higher levels selling therefore today trading will be understood with mixed patterns formations and view will be watchful and cautious. Good consolidation between 8106-8139 on 08-10-2015 and selling between 8199-8232 in last 2 sessions therefore expected that Nifty will trade between 8106-8232 tomorrow and prepare for next decisive moves.

No gossiping never guessing and whatsoever market suggest only that is always updated. Let market prepare for next trend and decisive moves then will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years

As busy therefore Stock Market Outlook of today is not being updated.

Live Proofs of 100% Accurate Predictions and Levels

Proofs of  09-10-2015 Analysis accuracy

Although Nifty closed 48 points down near the lower levels of the day yesterday but we were not Bearish but Bullish therefore told following conclusive lines yesterday in "Finally 8097-8139 will decide next big trend but view is Bullish"::-

1- Finally 8097-8139 will decide next big trend 
2- view is Bullish 

100% Acccuracy has been proved today from following moves of Nifty today:-

1- Nifty opened 57 points up today.
2- 8139 was given and Nifty got supports exactly at 8139.65 today.
3- Bullish view was told and whole day positive zone trading was seen today and also Nifty closed 60.35 points up today.

Proofs of  08-10-2015 Analysis accuracy

When Nifty closed at the higher levels of the day on 07-10-2015 then we told following lines same day in "Intra Day Chart Analysis & Market Outlook(08-10-2015)"

1- selling market signals generation today
2- today closing was near the higher levels of the day also therefore firstly sustaining it beyond should be watched tomorrow 

As was told on 07-10-2015 and 100% same happened on 08-10-2015 in following manner:-

1- selling market signals generation was told and Nifty closed 48 points down as well as closing near the lower levels of the day at 8129.35.
2- Condition of sustaining above previous session closing(8177.40) was told and Nifty could not sustain above it as well as Nifty slipped to 8175 in first 21 seconds.

Finally 8097-8139 will decide next big trend but view is Bullish

Intra Day Chart Analysis & Market 

Outlook(09-10-2015)

Nifty-Intra Day Chart (08-Oct-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- Consolidation Patterns between 8106-8139
3- Whole day actual trading between 8106-8180

Conclusions from intra day chart analysis 

Although Nifty closed near the higher levels of the day yesterday but intraday selling patterns formations were seen therefore we told following conclusive lines yesterday in "Intra Day Chart Analysis & Market Outlook(08-10-2015)":-

1- selling market signals generation today.
2- As consolidation patterns were also seen and today closing was near the higher levels of the day also therefore firstly sustaining it beyond should be watched tomorrow

Condition of sustaining above yesterday closing(8177.40) was told and Nifty could not sustain above it. Nifty slipped to 8175 in first 21 seconds and after that whole day traded today below 8180 as well as closed near the lower levels of the day at 8129.35.

Although today closing near the lower levels of the day but firstly Down moves in Bullish Falling Channel and consolidation Patterns formations in last 4 hours between 8106-8139. As consolidation between 8097-8115 on 06-10-2015 and follow up consolidation was seen within and above it today therefore if Nifty sustain above 8139 then that will be strong indication valid break out confirmation of last 27 sessions range(7540-8092) resultant immediate strong rally towards and above 8200.

Finally 8097-8139 will decide next big trend but view is Bullish despite 48 points negative closing near the lower levels of the day today. 

Intra Day Chart Analysis & Market 
Outlook(08-10-2015)

Nifty-Intra Day Chart (07-Oct-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- Selling between 8167-8185
3- Down moves in Bullish Falling Channel
4- Consolidation between 8150-8164
5- Whole day actual trading between 8133-8188

Conclusions from intra day chart analysis 

Following levels with its importance were updated yesterday in "Finally 8092-8185 will decide Next Big Trend":-  

finally valid break out 8092-8185 should be watched for next big trend confirmations 

Nifty traded almost whole day between mentioned levels and also closed within it today with both consolidation and selling patterns formations. Intraday volatility within 55 points without much sideways moves today but completely under performed Global markets because all the global markets traded with very good gains and Dow's Futures was also more than 125 points up while Indian markets traded most time with nominal gains and moves into negative zone as well which means selling market signals generation today. 

As consolidation patterns were also seen and today closing was near the higher levels of the day also therefore firstly sustaining it beyond should be watched tomorrow because that will firstly give next trend indication. 

Detailed analysis have already been explained in above mentioned topic yesterday and next moves should be understood according to that.

Finally 8092-8185 will decide Next Big Trend 

Intra Day Chart Analysis & Market Outlook

(07-10-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 8130-8157

2- Down moves in Bullish Falling Channel

3- Consolidation between 8097-8115

4- Selling between 8155-8180

5- Whole day actual trading between 8097-8180

Conclusions from intra day chart analysis 

As sentiment was strong today morning because Dow Jones closed more than 300 points up yesterday therefore all the Asian markets were trading with good gains resultant gap up opening of Indian markets but profit booking was also seen in first 2 hours . As Down moves in Bullish Falling Channel with lower levels consolidation was also therefore recovery from lower levels but selling patterns formations at higher levels of the day.

27 Sessions sideways market between 7540-8092 and and this range was forcefully broken out on 05-10-2015 but its technical confirmation is still left which will be after 3% up moves above the top of range(8092) or 3 sessions closing above it. As some selling was also seen today therefore minimum next 2 sessions closing above it with follow up consolidation is also technically required yet.

Short and Intermediate Term trends are up and Long Term Trend is still down which will be up after sustaining above its decider 200 Day EMA(today at 8185). As both consolidation and selling within 8097-8180 therefore expected that Nifty will firstly trade within this range tomorrow. 

As complete selling is required for fusing of on going rally therefore until it will not happen in the coming 2/3 sessions till then view will not be Bearish. It is also confirm that once confirmation of sustaining above 8092 will mean high possibility of Long Term Trend turning up after sustaining above  200 Day EMA. Certainly it will result fresh rally above life time high after that 4000 points rally correction completion at 7546 on 07-09-2015 which started from 5118.85 on 28-08-2013 and completed at 9119.20 on 04-03-2015. 

Bearish Hanging Man EOD Candle formation with some selling today therefore some down moves within today trading range is expected tomorrow but finally valid break out 8092-8185 should be watched for next big trend confirmations because:-

1- 8092 will give 27 sessions break out confirmation.

2- 8185 will give Long Term Trend confirmation

Post-open Outlook(06-10-2015)

Intermediate and Short Term trends have turned up after previous 4 sessions rally and Nifty failed to test today Long Term Trend decider 200 Day EMA(8185) and slipped after opening high formation at 8180.95. As short term indicators are overbought after on going rally therefore Very Short Term Correction/intraday correction may be seen any day but until compete selling patterns will not develop till then decisive down moves will not be seen.

27 Sessions trading range(7540-8092) forcefully broken out yesterday but on the back of strong Global cues. As there is news based huge volatility in all the global markets therefore confirmation through sustaining above 8092 is must for trend reversal and correction completion at 7546 on 07-09-2015 of that 4000 points rally which started from 5118.85 on 28-08-2013 and completed at 9119.20 on 04-03-2015.

Rally Continuation after Correction Completion

Intra Day Chart Analysis & Market Outlook

(06-10-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 75 Points recovery in first minute after strong opening
2- 3 hours consolidation between 8052-8068
3- Higher levels consolidation in last hour between 8111-8128
4- Whole day actual trading between 8006-8128

Conclusions from intra day chart analysis 

As most Global markets closed strong last Friday and resultant all the Asian markets were trading in Green and some markets were more than 1.5% up also today morning therefore 75 Points recovery in first minute after strong opening. Last 27 sessions sideways trading between 7540-8092 and firstly 3 hours consolidation between 8052-8068 as well as higher levels consolidation in last hour between 8111-8128 therefore strong signals rally continuation in the coming sessions.

Once sustaining above the top of last 27 Sessions trading range(8092) will mean fresh rally beginning after previous 4000 points rally(5118-9119) correction completion and it is expected also because last hour consolidation was also seen above the the top 27 Sessions trading range.

Post-open Outlook(05-10-2015)

Dow Jones closed 200 points up and most of the Global markets also closed with sufficient gains last Friday as well as all the Asian markets were in Green and some were more than 1.5% up today therefore sentiment boosted and strong opening of Indian markets and more than 1% up today.

As selling was seen on 01-10-2015 therefore some down moves were expected but strong Global cues led rally was seen in Indian markets also today. 3 Resistance ranges were updated in previous Outlook and now Nifty is trading within 2nd resistance range. As some consolidation was seen today and some times Bullish markets consolidate at higher levels also therefore firstly valid break out of 2nd resistance range(8032-8055) should be watched for 1st signal of next decisive moves because most time trading within this range in first hour today.

Sideways market and technically preparation for next big decisive moves

Technical Analysis,Research & Weekly Outlook

(Oct 05 to Oct 09,2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 7991-8007
2- Selling between 7954-7977
3- More than 5 hours trading between 7932-7977
3- Whole day actual trading between 7932-8007

Conclusions from intra day chart analysis 

As last 27 sessions sideways trading 7540-8092 and no material in EOD charts patterns therefore just click following previous Weekly analysis topics links for:-

1- Detailed analysis of 4000 points rally EOD charts from 28-08-2013(5118.85) to 04-03-2015(9119.20)
2- Correction from 04-03-2015(9119.20) to 08-09-2015(7539.50)
3- Huge 10 months Bearish Head and Shoulders Pattern formations between 22-08-2014 and 21-08-2015 with its neckline at 7940
4- 23 Sessions actual trading between 7540-8092 from 24-08-2015 to 24-09-2015 with higher levels selling and lower levels consolidations

Topic links are as follows:-

1- Finally correction continuation towards 7104/6761(Sep 14 to Sep 18,2015)
2- Just watch 7691 for on fresh Down Moves beginning towards 7104/6761(Sep 21 to Sep 24,2015) 
3- Next Trend after RBI Credit Policy will get confirmations from 23 Sessions Range 
(Sep 28 to Oct 01,2015)

Previous 27 sessions trading between 7540-8092 and last 3 resistances of this range are as follows:-

1- 7995-8010
2- 8032-8055
3- 8068-8090

First resistance range was between 7995-8010 and fresh selling was seen within and below this range between 7991-8007 on 01-10-2015 and follow up selling was also seen same day between 7954-7977 therefore some down moves are expected in the beginning of next week.

As Bearish Rising Wedge formation between 7824-7957 in last hour on 30-09-2015 and more than 5 hours trading within and above this range between 7932-7977 with above mentioned selling on 01-10-2015 therefore some emergence of decisive down moves possibility also.

Technically Indian markets are well poised for Short Term down moves but Dow Jones closed 200 points up last Friday and most of the Global markets also closed with sufficient gains same day therefore some up moves with intraday volatility is expected next Monday but expected that finally Nifty will not be able to sustain above day's highest(8007) and strong possibility to slip below 7824 and towards following next supports:-

1- 7875-7898
2- 7748-7796(weaker support)
3- 7693-7720
4- 7558-7647(strong support)

As RBI has cut Repo rates by 50 BPS therefore it is big sentiment boosting and 27 sessions like long trading range(7540-8092) valid break out has power to generate next big trend as well as has trend reversal strength also therefore 7540-8092 should be watched for following next trend:-

1- Valid break out above 8090 will mean trend reversal confirmation resultant fresh rally above life time high after previous 4000 points rally(5118-9119) correction completion. 
2- Valid break down below 7540 will mean correction continuation towards 7104/6761 but follow up selling is firstly required in next week because good supports are lying below previous sessions lowest(7932)

As sufficiently good supports and resistances within 27 sessions sideways trading range therefore expected that Nifty will technically prepare for next big decisive moves within this range.

भारत के महान और ईमानदार प्रधानमंत्री शास्त्री जी के जन्मदिवस पर

सभी देशवासियों को हार्दिक बधाई 

शास्त्री जी ने 1965 के युद्ध के समय फटी धोती तक पहनी थी, अपने बच्चों का ट्यूशन तक बंद करवा दिया था

और औने गार्डन में फूलों की जगह सब्जिया खुद उगाई थी

Firstly Watch Valid Break out Most Crucial Range

Intra Day Chart Analysis & Market Outlook

(01-10-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 7875-7898
2- 5 Waves of Bearish Rising Wedge formation in last hour. 
3- Whole day actual trading between 7875-7957

Conclusions from intra day chart analysis 

As Dow's Futures was trading 100 points up at the opening time of all Indian markets and most Asian markets were also trading in Green therefore 80 points up opening of Indian markets and after that 4 hours consolidation between 7875-7898 as well as slow up moves in last 2 hours.

Previous 26 sessions trading between 7540-8092 and next 3 resistances of this range are as follows:-

1- 7995-8010
2- 8032-8055
3- 8068-8090

Bearish Rising Wedge formation in last hour today and Short Term indicators have turned overbought after last 2 sessions strong rally as well as above mentioned 3 resistances are also lying above today highest and fresh consolidation is still required for next decisive up moves therefore Nifty will trade between 7824-8090 in the coming 1/2 sessions. 

Certainly coming 1/2 sessions will be most crucial because follow up consolidation is must to cross and sustain above mentioned resistances. If it happens then trend reversal will be considered but confirmation will be after sustaining above 26 sessions trading range highest(8092).

As complete selling is also required for fresh down moves and it has not developed yet therefore some more up moves are still expected between 7824-8090 but volatility may remain high within this range and next trend beyond this range will be as follows:-

1- Valid break out above 8090 will mean trend reversal confirmation resultant fresh rally after previous 4000 points rally(5118-9119) correction completion. 
2- Valid break down below 7824 will mean first signal of correction beginning towards 7104/6761 and correction continuation confirmation will be below today lowest(7875)

As 7824-8090 has developed most crucial therefore firstly its Valid break out should be watched for next trend first signal/confirmations.

Just Watch 25 Sessions Trading Range for Big Decisive Moves Confirmations 

Intra Day Chart Analysis & Market Outlook

(30-09-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- 100 Points surge after RBI Credit policy
2- 234 Points intraday rally
3- 100 Points slipping in last hours.
4- Whole day actual trading between 7692-7926

Conclusions from intra day chart analysis 

When Dow Jones was trading 300 points down after more than 2% negative closing of all European markets and Indian markets closing near the lower levels of the after loosing 73 points on 28-09-2015 then we were not Bearish and told following lines in "RBI Credit policy is last Hope of Bulls amid All Global Markets Crashing":-

1- Certainly higher levels complete selling was not seen and some consolidation was also seen in first 5 hours sideways trading 
2- sustaining below first 5 hours trading range(7832-7890) is must for decisive down moves below today lowest(7787)
3- next trend will be decided according to RBI Credit policy announcements after 11:00 AM which is last hope of Bulls

Following lines were told at on 27-09-2015 in "Next Trend after RBI Credit Policy will get confirmations from 23 Sessions Range":-

1- 50 BPS cut is less expected and its announcement will mean immediate forceful up moves but trend reversal will be considered only after sustaining above 23 sessions trading range highest(8092)
2- Correction is very much in continuation towards its technical targets at 7104/6761 but importance of valid break out of last 23 sessions like long sideways range also can not be ignored because such long time ranges have trend reversal strength also. 
3- Certainly last 23 sessions trading range has power to form big trend therefore firstly watch its valid break out in next RBI Credit Policy week for confirmations.

As following reasons still therefore Nifty will be understood range bound within last 25 Sessions range:- 

1- Today rally was only RBI Credit Policy news generated and not after intraday complete consolidation
2- Technical positions reverses also during today like news led intraday volatility 

Last 25 sessions sideways trading between 7540-8092 with higher levels selling and lower levels consolidations and Correction is on towards its technical targets at 7104/6761 but 25 sessions like long sideways range has trend reversal strength also therefore finally valid break out of mentioned 25 sessions range should be watched for next big decisive moves confirmations. 

RBI Credit policy is last Hope of Bulls amid All Global Markets Crashing 

Intra Day Chart Analysis & Market Outlook

(29-09-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 7832-7854
2- Consolidation Patterns between 7843-7862
3- Selling Patterns between 7866-7880
4- Selling Patterns between 7870-7890
5- 5 Hours Mixed Patterns between 7832-7890
6- Sudden fall with 100 points sharp fall in Dow's Futures and in all fast slipping of all European markets
7- Whole day actual trading between 7787-7890

Conclusions from intra day chart analysis 

As first 5 hours trading was with both consolidation and selling therefore Mixed Patterns formations will be understood at higher levels of the day today. Although closing near the lower levels of the day after slipping from higher levels but after 100 points sudden sharp down moves in Dow's Futures and fast slipping of all the European markets.

Certainly higher levels complete selling was not seen and some consolidation was also seen in first 5 hours sideways trading therefore sustaining below first 5 hours trading range(7832-7890) is must for decisive down moves below today lowest(7787)

As Dow Jones is now trading 300 points down after more than 2% negative closing of all European markets therefore all the Asian markets may trade in deep Red on 29-09-2015 and resultant Indian markets will also open gap down but next trend will be decided according to RBI Credit policy announcements after 11:00 AM which is last hope of Bulls otherwise technically Nifty is well prepared to move towards 7104/6761 after crashing of all the Global markets.

Next Trend after RBI Credit Policy will get confirmations from 23 Sessions Range 

Technical Analysis,Research & Weekly Outlook

(Sep 28 to Oct 01,2015)

Nifty-Intra Day Chart (Aug 24 to Sep 24,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 23 Sessions intraday charts

1- 165 Points gap down opening on 24-08-2015
2- 23 Sessions actual trading between 7540-8092 from 24-08-2015 to 24-09-2015 with higher levels selling and lower levels consolidations

Conclusions from 23 Sessions intra day chart analysis 

Last 23 Sessions sideways market between 7540-8092 after huge 165 points gap (8060-5225) down opening on 24-08-2015 with higher levels selling and lower levels consolidations and last Friday closing at almost middle of this range. As both sufficiently good selling at higher levels and equally good consolidations at lower levels also therefore market require some more technical positions formations for next decisive moves beyond this range. 

Expected that Nifty will firstly trade next 2/3 sessions between 7540-8092 and prepare for next big trend within this range because valid break of this 23 Sessions trading range will certainly produce blasting moves beyond this range.

Intra Day Chart Analysis(24-09-2015)

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

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 7804-7833(Immediate Supports)
2- Consolidation Patterns formations in last hours between 7864-7894
3- Whole day actual trading between 7804-7894

Conclusions from intra day chart analysis 

As up moves after lower levels consolidations and follow up consolidation patterns formations also at higher levels of the day therefore firstly some up moves are expected in the beginning of next week. 

Conclusions (After Putting All Studies Together)

As detailed analysis of EOD charts have already been updated in previous weeks Weekly analysis and no material changes in previous week therefore not being posted in this week but will be considered for drawing final conclusions. Just click following previous Weekly analysis topics links for EOD charts ready references:- 

1- Just watch 7691 for on fresh Down Moves beginning towards 7104/6761(Sep 21 to Sep 24,2015) 
2- Finally correction continuation towards 7104/6761(Sep 14 to Sep 18,2015)

Trends of Nifty are as follows:-

1- Long Term Trend is down
2- Intermediate Term Trend is sideways between 7540-8092
3- Short Term Trend is sideways

RBI Credit Policy will be announced on 29-09-2015 and Nifty will remain volatile till then but following decisive moves will be seen after following changes in rates:-

1- 25 BPS cut is very much expected but priced in and finally down moves will be seen after initial volatility.
2- 50 BPS cut is less expected and its announcement will mean immediate forceful up moves but trend reversal will be considered only after sustaining above 23 sessions trading range highest(8092)

Expected that Nifty will firstly prepare next Monday for post Credit Policy trend but follow up consolidation is must after last Friday consolidation for next decisive moves above 8092 because good selling below it was also seen in last 23 sessions.

Correction is very much in continuation towards its technical targets at 7104/6761 but importance of valid break out of last 23 sessions like long sideways range also can not be ignored because such long time ranges have trend reversal strength also. 

Certainly last 23 sessions trading range has power to form big trend therefore firstly watch its valid break out in next RBI Credit Policy week for confirmations.