7443-7527 Will decide Next More than 2% One Sided Moves

Intra Day Chart Analysis & Market Outlook

(09-03-2016)

Nifty-Intra Day Chart (08-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Minor selling between 7443-7456
2- Minor support between 7506-7527
3- Whole day actual trading between 7443-7527

Conclusions from intra day chart analysis 

Following conclusive lines were told in previous 3 Outlooks on 04-03-2016:-

1- Selling between 7470-7488
2- very Short Term correction possibility towards post Budget rally retracement levels
3- Nifty will firstly trade and prepare for next decisive moves within or near about 7444-7512 in the beginning of next week.

As was told 100% same happened in following manner today:-

1- Nifty could not sustain at higher levels because selling was seen between 7470-7488 on 04-03-2016 and very Short Term 84 points correction from higher levels was seen today. 
2- Trading within or near about 7444-7512 was told and Nifty traded within or near about this range between 7442.15-7527.15 as well as closed also within this range at 7481.35 today.

Following resistances were updated at 12:2300 AM on 03-03-2016 in"Pull Back Rally continuation Expectations " 

1- 7480-7512
2- 7556-7600 

Nifty hovered around 1st resistance range in last 2 sessions with trading between 7443-7527 and valid break out of today trading range will generate more than 2% one sided moves because that will confirm the strength of resistance range.

As both higher levels minor selling and lower levels minor supports as well as Doji(indecision) Candle formations today therefore today trading will be again understood with Mixed Patterns formations between 7443-7527 and Nifty has to prepare for next decisive moves within and near about this range. 

Let Nifty prepare for next decisive moves between 7443-7527 then will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years because our policy is "No gossiping never guessing and whatsoever market suggest,only that is always updated".

Firstly Watch 7444-7512 for Next Decisive Moves in Next Week

Technical Analysis,Research & Weekly Outlook

(Mar 08 to Mar 11,2016)

Nifty-Intra Day Chart (04-03-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling range 7470-7488 
2- High volatility in last hours
3- Whole day actual trading between 7444-7505

Conclusions from intra day chart analysis 

As next resistances above today highest were between 7480-7512 and some selling was seen just below and within this range today therefore Nifty could not move above 7512 and also closed within today selling range(7470-7488) at 7485.35 today. As some selling patterns today therefore on this base only very Short Term correction beginning will be considered because any big down moves can not be seen after such one day minor selling.

As high intraday volatility was also seen in last hours today and technical positions reverses during such volatility as well as only minor selling was seen today therefore it will be safer to get confirmation through valid break out of Crucial Levels because finally today intraday trading will be understood with Mixed Patterns formations not one sided.

Resistance between 7480-7512 have been updated 4 times after 23-06-2016 and Nifty traded as well as closed between this range after some follow up selling within and below this range today. As high volatility was also seen above today lowest(7444) which may have changed intraday technical positions therefore if there will not be any big news or any big Global markets moves next Monday then Nifty will firstly trade and prepare for next decisive moves within or near about 7444-7512 in the beginning of next week as well as valid break out of this range will decide following next decisive moves:-

1- Above 7512 will mean post Budget Pull Back Rally continuation towards next resistances(7556-7600). 
2- Below 7444 will mean very Short Term correction of post Budget rally beginning towards following retracement levels:-

Retracement Levels of Post Budget Pull Back Rally

Nifty-EOD Chart (04-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 13.0%-7416
2- 23.6%-7344
3- 27.0%-7321
4- 38.2%-7245(Crucial)
5- 50.0%-7165(Crucial)
6- 61.8%-7085(Crucial)
7- 70.7%-7024
8- 76.4%-6986
9- 78.6%-6971 
10-88.6%-6903

Pre-closing Outlook(29-02-2016)

It should be kept in mind that only very Short Term correction towards retracement levels is being considered at this moment after Post Budget strong rally because some selling was seen 7470-7488 today. As some recovery from lower levels therefore firstly valid break out of 7444-7512 should be firstly watched for next immediate move confirmations because some times Bull Market consolidate at higher levels amid high intraday volatility without giving deeper correction.

Although Nifty is now trading below today selling range(7470-7488) at 7467 but 7444-7512 should be firstly watched for confirmations.

Firstly Watch Retracement Levels after today started Very Short Term Correction beginning

Mid-session Outlook(04-03-2016)

Following resistances were updated at 12:2300 AM on 03-03-2016 in"Pull Back Rally continuation Expectations " 

1- 7480-7512
2- 7556-7600 

Nifty faced resistance exactly within 1st resistance range today and retraced to 7444.10 after intraday highest formation within this range at 7505.80. At this moment only very Short Term correction beginning will be considered after post Budget strong rally and following retracement levels will be firstly watched for today started correction completion:-  


1- 13.0%-7,416
2- 23.6%-7,344
3- 27.0%-7,321
4- 38.2%-7,245(Crucial)
5- 50.0%-7,165(Crucial)
6- 61.8%-7,085(Crucial)
7- 70.7%-7,024
8- 76.4%-6,986
9- 78.6%-6,971 
10-88.6%-6,903

It must be kept in mind that usually Bull markets does not give much deeper correction therefore whenever consolidation develops near about above levels then today started correction completion will be considered at that point. As first 4 fours today intraday charts are showing some selling patterns therefore correction continuation is expected towards above levels.

As busy in a marriage therefore Stock Market Outlook of today is not being updated but Mid-session Outlook may be posted during trading hours.

Pull Back Rally continuation Expectations 

Intra Day Chart Analysis & Market Outlook

(03-03-2016)

Nifty-Intra Day Chart (02-Mar-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Support between 7309-7326(Immediate Supports)
2- More than 5 hours Mixed Patterns between 7340-7380
3- Up moves in Bearish Rising Channel
4- Down moves in Bullish Falling Channel
5- Whole day actual trading between 7309-7380

Conclusions from intra day chart analysis 

Surprised to see all around that most were Bearish for Budget and many have been trapped in short positions but those who are following us very well know that we posted following last Bearish topic on 22-02-2016:-

High Possibility of Slipping below Today Lowest(7201)

We told only and only up moves in all the following previous 5 topics from 25-02-2018:-

1- Posted at 02:12 AM on 01-03-2016- Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20
2- Posted on 29-02-2016- Finally up moves above today highest(7094.60)
3- Posted at 12:16 PM on 29-02-2016-  Mid-session Outlook(29-02-2016)
4- Posted at 01:08 AM on 29-02-2016- Short Term up moves Expectations with confirmation through 6869-7252
5- Posted on 25-02-2016-Pull Back Rally Expectations amid High Volatility

As was projected in above 5 topics 100% same happened after post Budget Bull Rally.

More than 100 points gap up opening and after that lower levels some supports but last more than 5 hours trading with  Mixed Patterns between 7340-7380 therefore expected that Nifty will firstly trade and prepare for next decisive moves within or near about this range.

Nifty traded 15 previous sessions between 6869-7252 and this range was forcefully broken out today which is first strong signal of its broken out validity and once confirmation of sustaining above 7252 will mean more decisive up moves after Intermediate Term Trend turning up confirmations as well as strong indication of that big correction completion at 6825.80 on 29-02-2016 which started at 9119.20 on 04-03-2015.

As very short Term Indicators have turned over bought therefore some intraday correction led volatility may be seen but until Nifty will not sustain below today lowest after 1/2 sessions complete selling till then any decisive down moves will not be considered. Expected that finally Budget day started Pull Back Rally will remain continued towards following next resistances after 1/2 sessions follow up consolidation within or near about 7340-7380:-

1- 7480-7512
2- 7556-7600 

Who told for Post Budget 
Bullish Indian Markets in whole India 
Except us

Archive(More than 7000 Topics) at the left bottom of this Blog is life proof of such accurate predictions of Indian Stock Markets for the last 5 years. Anyone can verify this fact any time from EOD and intraday charts of last 5 years

Indian Stock Market Outlook
(02-03-2016)

Whatsoever Bullish moves will be seen in Indian markets today all that have already been projected in last 1 week therefore just click following topic links and understand today market. When most of the experts were Bearish in all the Business News Channels and Websites then only we told for Post Budget Bullish moves which started after Budget from yesterday and will be seen today. 

Just go through previous topics on Home page or click following topic links which will make clear that those Bullish moves which were projected have been proved 100% accurate during and after Union Budget:-

1- Posted at 02:12 AM on 01-03-2016- Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20
2- Posted on 29-02-2016- Finally up moves above today highest(7094.60)
3- Posted at 12:16 PM on 29-02-2016-  Mid-session Outlook(29-02-2016)
4- Posted at 01:08 AM on 29-02-2016- Short Term up moves Expectations with confirmation through 6869-7252
5- Posted on 25-02-2016-Pull Back Rally Expectations amid High Volatility
6- Posted on 24-02-2016-Firstly Watch valid 6965-7090
7- Posted on 23-02-2016-Sideways market within Crucial levels for Post Budget Big Moves Preparations

Live Proofs of Today market 100% Accurate Predictions

Although FIIs were net sellers by 2018.02 Cr yesterday and Nifty closed in Red after last 1 year lowest formations but we told following line yesterday in "Finally up moves above today highest(7094.60)":-

finally up moves are expected above today highest(7094.60) 

As was told yesterday 100% same happened today and Nifty crossed 7094.60 within first 15 minutes after gaining more than 60 points in first 1 minute and now trading at 7131 after gaining 144 points

Who told with such guarantee for up moves above 7094.60 yesterday in any Website and Business News Channel in whole India Except us

Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20

Nifty-EOD Chart (29-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-3 on long Chart beginning at 4531.15 on 20-12-2011
2- Wave-3 completion and corrective Wave-4 beginning at 9119.20 on 04-03-2015 
3- Corrective Wave-4 recent bottom of correction at 6825.80 on 29-02-2016
4- 12 Months correction with Bullish Flag formations
5- Lower falling line of Bullish Flag testing on 29-02-2016 

Conclusions from EOD chart analysis 

As whole 12 months correction from 9119.20 to 6825.80 is with Bullish Flag formations and Nifty has not slipped below its lower falling line yet therefore Bullish Flag is valid till now and resultant hopes of fresh up moves above life time high(9119.20) are still alive.

On Long Charts now corrective Wave-4 is on which is correcting that impulsive wave-3 which started from 4531.15 on 20-12-2011 and completed at 9119.20 on 04-03-2015. Fibonacci Retracement levels of Wave-3(4531-9119) are as follows:-

1- 13.0%-8522
2- 23.6%-8036
3- 27.0%-7880
4- 38.2%-7366
5- 50.0%-6825(Tested on 29-02-2016 with intraday lowest formation at 6825.80)
6- 61.8%-6283
7- 70.7%-5875
8- 76.4%-5613
9- 78.6%-5512 
10-88.6%-4531 

Nifty tested today lower falling line of Bullish Flag at 6825.80 which is exactly at 50.0% Fibonacci Retracement level(6825) and all the Long Term Oscillators are oversold as well as Nifty recovered 110 points within 3 minutes which is Panic Bottom formations confirmation therefore:- 

1- Strongest indications of last 12 months Long Term correction completion today at 6825.80.
2- Very much expected that finally 6825.80 will be proved the lowest of that correction which begun at 9119.20 on 04-03-2015  
3- Finally fresh rally above 9119.20 will be seen before or immediately after Budget 2017-18 

Although tough to believe it today but just click following topic links and verify on yours own our following previous predictions also:-  

1- Posted on 06-09-2015- "Next Target of Nifty at 7104.30"
2- Posted on 13-09-2015- "Finally correction continuation towards 7104/6761"
3- Posted on 07-01-2016- "Correction Continuation towards 7104/6761"

(When we are projecting such Bullish Indian markets at that time Dow Jones is trading 110 points down and FIIs were net sellers by Rs 2018.02 cr today)

Finally up moves above today highest(7094.60)

Intra Day Chart Analysis & Market Outlook

(01-03-2016)

Nifty-Intra Day Chart (29-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- High volatility
2- Down moves in Bullish Falling Channel during last Hours between 6970-7094
3- Whole day actual trading between 6826-7094

Nifty-Intra Day Chart (Feb 24 to Feb 29,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 4 Sessions intraday charts

1- Previous 3 sessions trading between 6962-7090 
2- Today last 2 Hours Down moves in Bullish Falling Channel between 6970-7094

Conclusions from 4 Sessions intra day chart analysis 

Although high volatility today but as such selling patterns formations were not seen despite 42.70 points down closing but on the contrary Down moves in Bullish Falling Channel during last 2 Hours therefore Short Term up moves expectations are still alive. As following factors therefore some volatility between 6869-7252 may be seen in the coming sessions:-

1- Opposition parties may disrupt parliament on  privilege motion against Smriti Irani issue which will certainly hamper sentiment of Indian Stock markets.
2-  Certainly Long Term correction is very much on and no confirmation of its completion yet and higher levels multiple resistances up to 7252 therefore more consolidation is required for correction completion.

As per our view Indian markets are in consolidation phase after last 1 year correction and it will take its own complete time in the same manner as happened after 2008 correction that Nifty remained sideways for 5 months within 998 points between 2253-3241 from 27-10-2008 to 02-04-2009. 5 months trading range broken out after closing above 3241 on 02-04-2009 which made 9119.20 on 04-03-2015. 

Last 14 sessions most time trading between 6869-7252 and today closing within it after intraday lowest below it at 6826 and at present Nifty will be understood sideways within it,valid break out of this range will confirm Intermediate Term Trend. As Both lower levels supports and higher levels selling between 6869-7252 therefore market has to prepare for next decisive moves within this range.

Previous 3 sessions trading between 6962-7090 and today closing near the lower levels of this range but last 2 Hours today Down moves(6970-7094) within this range in Bullish Falling Channel which is a consolidation pattern therefore finally up moves are expected above today highest(7094.60) in the coming 2/3 sessions after some more follow up consolidation but first indication of last 1 year correction completion will be after sustaining above 7252.

Mid-session Outlook(29-02-2016)

Following lines were told at 01:08 AM today in "Short Term up moves Expectations with confirmation through 6869-7252:-

1- As Union Budget 2016/17 at 11:00 AM on 24-02-2016 and opposition attitude had been to disrupt parliament also therefore such uncertainly may result high volatility,
2- for precaution valid break out of last 13 sessions range(6869-7252) should also be watched for next Trend confirmations.

Although never happened in history on Budget day but today opposition tried to disrupt parliament immediately after opening on privilege motion against Smriti Irani. It means that Parliament may be again disturbed in the coming day like previous 2 sessions which will certainly hamper sentiment of Indian Stock markets.

As such uncertainly therefore high volatility is being seen today and for precaution valid break out of last 13 sessions range(6869-7252) should be watched for next Trend confirmations 

Short Term up moves Expectations with confirmation through 6869-7252

Technical Analysis,Research & Weekly Outlook

(Feb 29 to Mar 04,2016)

Nifty-EOD Chart (26-Feb-2016):-

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-1 of Wave-A(8269.15 on 27-03-2015)
3- Wave-2 of Wave-A(8844.40 on 15-04-2015)
4- Wave-3 of Wave-A(7997.15 on 07-05-2015)
5- Wave-4 of Wave-A(8489.55 on 22-05-2015)
6- Wave-5 of corrective Wave-A completion(7940.30 on 12-06-2015) and Wave-B beginning
7- Wave-B completion and corrective Wave-C beginning(8654.75 on 23-07-2015)
8- Wave-1 of Wave-C(7539.50 on 08-09-2015)
9- Wave-2 of Wave-C(8336.30 on 26-10-2015)
10- Wave-3 of Wave-C continuation with recent bottom formation at 6869.00 on 12-02-2016 and Pull Back Rally beginning
11- Wave-1 of Pull Back Rally completion at 7252.40 on 22-02-2016 and its correction beginning
12- Wave-2 of Pull Back Rally at 6961.40 on 25-02-2016 and Up moves beginning with higher bottom formation.

Conclusions from EOD chart analysis 

'ABC' correction of that rally is on which started from 5118.85 on 28-08-2013 and completed at 9119.20 on 04-03-2015. Now Wave-3 of Wave-C continuation with recent bottom formation at 6869.00 on 12-02-2016 and after that Pull Back Rally begun and its Wave-1 finished at 7252.40 on 22-02-2016. Its corrective Wave-2 started which completed at 6961.40 on 25-02-2016,in this manner higher bottom formation was seen near the lowest of correction which is an indication of Short Term up moves in the coming week.

Nifty-Micro Analysis of 15 Sessions Intra Day Chart

(Feb 08 to Feb 26,2016)

Nifty-Intra Day Chart (Feb 08 to Feb 26,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 15 Sessions intraday charts

1- Gap down on 09-02-2016
2- Gap down on 10-02-2016
3- 13 Sessions sideways market between 6869-7252

Conclusions from intra day chart analysis 

13 Sessions sideways market between 6869-7252 and once valid break out of this range will confirm next strong Intermediate Term Trend which may be bigger also because 13 is a Fibonacci Number. As it will be little bigger range break out therefore once sustaining above 7252 will mean strong indication of that big correction which at 9119.20 on 04-03-2015. 

Nifty-Micro Analysis of 3 Sessions Intra Day Chart

(Feb 24 to Feb 26,2016)

Nifty-Intra Day Chart (Feb 24 to Feb 26,2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 3 Sessions intraday charts

1- Minor selling between 7060-7080 on 24-02-2016
2- Minor selling between 7075-7090 on 24-02-2016
3- All the down moves in Bullish Falling Channel on 24-02-2016
4- Mixed Patterns between 6998-7028 on 25-02-2016
5- Down moves in Bullish Falling Channels on 25-02-2016
6- Mixed Patterns between 6980-7008 on 25-02-2016
7- Down moves in Bullish Falling Channel on 26-02-2016
8- Consolidation Patterns between 6986-7008 on 26-02-2016
9- Up moves with intraday correction on 26-02-2016
10- Minor selling between 7041-7051 on 26-02-2016
11- 3 Sessions actual trading between 6962-7090 

Conclusions from 3 Sessions intra day chart analysis 

Detailed analysis of 26-02-2016 has been posted below and just click following topic links for detailed analysis of intraday charts of 24-02-2016 and 25-02-2016:- 

1- For 24-02-2016- Firstly Watch valid 6965-7090
2- For 25-02-2016- Pull Back Rally Expectations amid High Volatility

It is very much clear from the last 3 sessions trading that more consolidation developed at lower levels in comparison to higher levels selling in last 3 sessions therefore strong indications of up moves above last 3 sessions highest(7090).

Intra Day Chart Analysis(29-02-2016)

Nifty-Intra Day Chart (26-Feb-2016):-

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 6986-7008(Immediate Supports)
3- Up moves with intraday correction
4- Minor selling between 7041-7051
5- Whole day actual trading between 6986-7052 

Conclusions from intra day chart analysis 

Firstly down moves in Bullish Falling Channel and after that lower levels good consolidation as well as some up moves with intraday correction therefore up moves above last Friday highest(7052.90) will be seen. As minor selling was also seen in last hours between 6986-7052 so Nifty has to consolidate near about this range for decisive up moves but finally up moves are expected after follow up consolidations

Conclusions (After Putting All Studies Together)

Just click following topic links and understand the technical reasons of on going correction and for detailed analysis of EOD charts of previous rallies from 2008 as well as crucial Patterns formations during on going correction:-

1- Posted on 06-09-2015- "Next Target of Nifty at 7104.30
2- Posted on 13-09-2015- "Finally correction continuation towards 7104/6761"
3- Posted on 07-01-2016- "Correction Continuation towards 7104/6761"
4- Posted on 01-02-2016- "Pull Back rally continuation after follow up consolidation"
5- Posted on 07-02-2016- "Pull Back Rally continuation require confirmations from 7448-7479 under Volatile Global Markets"
6- Posted on 15-02-2016- "Pull Back rally Expectations but Trend Reversal after Sustaining above Most crucial Levels"
7- Posted on 22-02-2016- "Firstly Sideways Market within Crucial Levels"

Finally correction continuation towards 7104/6761 was told on 13-09-2015 and recent bottom formation at 6869.00 which is just above 6761. Certainly correction is very much on and no confirmation of its completion yet but lower levels consolidation with higher bottom formations were seen in last 11 sessions and some consolidation also developed in last 3 sessions therefore Nifty is well poised for Short Term up moves in the beginning of next week. 

Next resistances of Nifty are as follows;-

1- 7190-7252(Strong)
2- 7282-7321
3- 7480-7512
4- 7556-7600 

Next supports of Nifty are as follows which are sufficiently strong also:-

1- 6965-7025
2- 6869-6945

Expected that Nifty will move up and test above mentioned first resistance range but complete follow up consolidation is required for its crossing because it is strong resistance range. Once sustaining above 7252 will mean strong rally possibility because that will be confirmation of 13 sessions range break out also. 

As on going 11 months correction is with Bullish Flag formations therefore sustaining above 13 sessions range will mean strong possibility of Bullish Flag validity resultant emergence of strong possibilities for fresh up moves above life time high(9119.20).

As Union Budget 2016/17 at 11:00 AM on 24-02-2016 and opposition attitude had been to disrupt parliament also therefore such uncertainly may result high volatility,for precaution valid break out of last 13 sessions range(6869-7252) should also be watched for next Trend confirmations. 

Although no confirmation of 11 months correction completion yet but lower levels consolidation in last 11 sessions therefore Short Term up moves are expected in next week and that may convert into Intermediate Term also if sustains above 7252.

Live Proofs of Today market 100% Accurate Predictions

When US markets were trading flat at 08:16 PM and FIIs were net sellers by 1465.68 Cr yesterday then we told following line yesterday in "Pull Back Rally Expectations amid High Volatility":-

Pull Back Rally is expected 

As was told yesterday 100% same happened and Nifty traded 79 points up in first 5 Seconds today

Pull Back Rally Expectations amid High Volatility

Intra Day Chart Analysis & Market Outlook

(26-02-2016)

Nifty-Intra Day Chart (25-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 6998-7028
2- Down moves in Bullish Falling Channels
3- Mixed Patterns between 6980-7008
4- Whole day actual trading between 6962-7028

Conclusions from intra day chart analysis 

Following line was told yesterday in "Firstly Watch valid 6965-7090"

Firstly Watch valid break out of 6965-7090 tomorrow for first signal of Post Budget decisive moves.

Although Nifty slipped below but closed within this range after lowest formation at 6961.40 therefore 6965 breaking down confirmation is still left and firstly sustaining beyond 6965 should be watched tomorrow for first strong signal of post Budget one sided decisive moves. 

Although Nifty closed near the lower levels of the day after whole day slipping from higher levels today but as such selling patterns were not seen but on the contrary consolidation through down moves in Bullish Falling Channel were also seen therefore strong signals of Indian markets entering into consolidation phase because consolidation patterns were seen yesterday also. 

As some consolidation in last 2 sessions therefore if follow up consolidation develops tomorrow also then minimum a Pull Back Rally will be seen after Union Budget on 29-02-2016 and we are expecting it also but market may be highly volatile in next 2 sessions because:-

1- Bottom of on going correction has not been confirmed yet.
2- No confirmation of on going correction completion yet.
3- News flow during and before Budget.
4- Uncertain and highly Global markets for the last 1 month.

Pull Back Rally is expected after follow up consolidation amid High volatility and finally next Short Term Trend confirmation will be sustaining beyond 6869-6965

Firstly Watch valid 6965-7090

Intra Day Chart Analysis &  Market Outlook

(25-02-2016)

Nifty-Intra Day Chart (24-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Minor selling between 7060-7080
2- Minor selling between 7075-7090
3- All the down moves in Bullish Falling Channel
4- Whole day actual trading between 7009-7090

Conclusions from intra day chart analysis

As following weakness in most Global markets therefore gap down opening of Indian markets and whole day negative zone trading today:-

1- Dow Jones closed 188 points down yesterday.
2- Most Asian markets were trading in Red.
3- All the European markets traded weak as well as slipped continuously after weak opening.

Although today closing near the lower levels of the day after higher levels minor selling but all the down moves in Bullish Falling Channel therefore it seems that consolidation process has been started and follow up moves consolidation in the coming sessions will mean strong rally after Union Budget on 29-02-2016.

Next supports of Nifty are as follows:-

1- 6965-7025
2- 6869-6945

As above supports are sufficiently strong therefore firstly valid break out of first support range should be watched tomorrow despite today closing within it after loosing 90 points.

Expected that Nifty will firstly trade and prepare for post Budget big moves between 6965-7090,let follow up consolidation develop within it then Post Budget rally will be considered.

Certainly major correction is on and no confirmation of its completion yet but now correction is at that level that if follow up consolidation develops in the coming 2 sessions then fresh decisive up moves will be seen after Budget which may result completion of that correction which started on 04-03-2015 from 9119.20.

Firstly Watch valid break out of 6965-7090 tomorrow for first signal of Post Budget decisive moves.

Sideways market within Crucial levels for Post Budget Big Moves Preparations

Intra Day Chart Analysis & Market Outlook

(24-02-2016)

Nifty-Intra Day Chart (23-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Nifty slipped 20 points in first 45 seconds
2- Whole day down moves
3- Whole day actual trading between 7091-7241

Conclusions from intra day chart analysis 

Who told in whole India with such guarantee at 04:30 PM yesterday without watching FII & DII Trading Activity(it is always announced after 05:30 PM) and at that time also when all the Global markets were most Bullish and blasting but we told following lines yesterday in "High Possibility of Slipping below Today Lowest(7201)":-

1- high possibility of slipping below today lowest(7201) in the coming 1/2 sessions
2- despite following Bullish moves in all Global markets at this moment:-

1- Dow's Futures now trading with 188 points up.
2- All the European markets are now trading with 1.15% to 2.57% gains. 
3- All the Asian markets closed in Green and 3 markets closed with more than 0.93% gains today.  

As was told yesterday 100% same happened through Nifty slipping below 7201 in first 7 minutes today. Not only today but "Archive" at the bottom of this Blog is live proof of this fact that such accurate Indian Stock Markets Predictions are being daily done for the last more than 5 years. Anyone can verify this fact from the "Archive" at the bottom of this Blog.

Nifty slipped 20 points in first 45 seconds and moved down continuously more than 100 points without any significant intraday up move as well as closed near the lower levels of the day after loosing 125 points. Correction is on and 7 sessions Pull back rally which fused today only after last 2 sessions intraday selling.

Next supports of Nifty are as follows which are sufficiently strong also:-

1- 6965-7025
2- 6869-6945

Next resistances of Nifty are as follows;-

1- 7190-7202
2- 7213-7321
3- 7480-7512
4- 7556-7600

It is clear from above supports and resistances that sideways market is ahead between 6869-7321 and Nifty will firstly prepare within following crucial levels one by one for post Budget big moves:-

1- 6965-7252(next trend first indication)
2- 6869-7321(next trend confirmation)

Although whole day down moves today but at this moment it will be understood only a correction of previous 7 sessions Pull Back Rally between 6869-7252. It must be kept in mind that if follow up consolidation develops in the coming sessions then strong rally will certainly be seen after Union Budget on 29-02-2016.

Expected that Nifty will remain sideways in the coming sessions within above mentioned crucial levels and will prepare for post Budget big moves. Let market prepare then will be updated according to coming sessions intraday charts patterns formations.

Nifty slipped below 7201 in first 7 minutes today 

High Possibility of Slipping below Today Lowest(7201)

Intra Day Chart Analysis & Market Outlook

(23-02-2016)

Nifty-Intra Day Chart (22-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Selling between 7230-7243
2- Selling between 7241-7252
3- Whole day actual trading between 7201-7252

Conclusions from intra day chart analysis 

Although almost whole day positive zone trading and today closing with 23.80 gains but high possibility of slipping below today lowest(7201) in the coming 1/2 sessions because sufficiently good selling patterns formations today despite following Bullish moves in all Global markets at this moment:-

1- Dow's Futures now trading with 188 points up.
2- All the European markets are now trading with 1.15% to 2.57% gains. 
3- All the Asian markets closed in Green and 3 markets closed with more than 0.93% gains today. 

Firstly Sideways Market within Crucial Levels

Technical Analysis,Research & Weekly Outlook

(Feb 22 to Feb 26,2016)

11 Months Correction with Bullish Flag formations 

Nifty-EOD Chart (19-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-3 on long Chart beginning at 5118.85 on 28-08-2013
2- Wave-3 completion and corrective Wave-4 beginning at 9119.20 on 04-03-2015 
3- Corrective Wave-4 recent bottom of correction at 6869 on 12-02-2016
4- 11 Months correction in Bullish Flag formations

Conclusions from EOD chart analysis 

As whole 11 months correction from 9119.20 to 6869 is with Bullish Flag formations and Nifty has not slipped below its lower falling line yet therefore it is valid till now resultant hopes of fresh up moves above all time high(9119.20) are still alive.

Intra Day Chart Analysis(19-02-2016)

Nifty-Intra Day Chart (19-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Minor support between 7159-7176
2- Minor selling between 7190-7202
3- Minor support between 7156-7170
4- Minor selling between 7213-7226
5- Whole day actual trading between 7159-7226

Conclusions from intra day chart analysis 

Following lines were told on 18-02-2016 in "Sideways market ahead for Post Budget big moves Preparation":-

Nifty will firstly trade and prepare for next trend near about today trading range(7128-7215)

Nifty traded most time within mentioned range(7128-7215) and closed also within it with Mixed patterns formations(both buying and selling) therefore still Nifty will be understood sideways and expected that Nifty will firstly trade and prepare for next decisive moves within and near above mentioned range.

Conclusions (After Putting All Studies Together)

As EOD charts analysis have already been updated in previous weekly analysis and no material change till now therefore has not been posted in this weekly analysis. Just click following links for detailed analysis of EOD charts from previous weekly Outlooks:-

1- Posted on 15-02-2016- "Pull Back rally Expectations but Trend Reversal after Sustaining above Most crucial Levels"
2- Posted on 07-02-2016- "Pull Back Rally continuation require confirmations from 7448-7479 under Volatile Global Markets"
3- Posted on 01-02-2016- "Pull Back rally continuation after follow up consolidation"
4- Posted on 07-01-2016- "Correction Continuation towards 7104/6761"

Immediate resistances of Nifty are as follows:-

1- 7220-7321
2- 7480-7512

Immediate supports of Nifty are as follows:-

1- 6965-7025
2- 6869-6945

Although some up moves were seen in previous week after lower levels supports but above resistances are lying just above previous weekly highest and minor selling was also seen last Friday therefore until Nifty will not sustain above 1st resistance(7321) till then decisive up moves will not be seen. As lower levels supports are also sufficiently good and Nifty requires some more preparation for next decisive moves therefore expected that Nifty will firstly trade within following crucial levels and prepare for next trend:-

1- 7128-7226
2- 6869-7321

Sideways market ahead for Post Budget big moves Preparation

Intra Day Chart Analysis & Market Outlook

(19-02-2016)

Nifty-Intra Day Chart (18-Feb-2016):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Distribution Patterns between 7180-7215
2- Support between 7128-7162
3- Whole day actual trading between 7128-7215

Conclusions from intra day chart analysis 

Although Nifty closed 114 points down with Bearish Engulfing Candle formation on 16-02-2016 but we were not Bearish but Bullish therefore told following lines at 12:03 AM on 17-02-2016 in "Some Up moves Expectations within Sideways Market":-

1- Nifty slipped and also closed well below 7141 today but as such selling patterns were not seen
2- today closing is also near the lower levels of the day but view will not be Bearish
3- some up moves are expected tomorrow but decisive up moves will seen above 7185.

As was told 100% same happened in last 2 sessions and Nifty gained 167 points in last 2 sessions after our above Outlook at 12:03 AM on 17-02-2016.

Pull Back rally is on but some selling was seen at higher levels today but equally good consolidation was also seen at lower levels therefore today trading will be understood with Mixed patterns formations and expected that Nifty will firstly trade and prepare for next trend near about today trading range(7128-7215) if huge one sided moves does not appear in Global markets. 

Following resistances have been posted many times in previous Outlooks:-

1- 7220-7321
2- 7480-7512

Although strong gap up opening today but Nifty could not test above mentioned 1st resistance range and selling was also seen just below it today therefore if follow up selling develops tomorrow then decisive down moves will be seen towards following next supports:-

1- 6865-7025
2- 6869-6945

As lower levels good supports and higher levels selling between 6869-7321 therefore at present Nifty will be understood sideways within this range and Nifty will trade as well as prepare for Post Budget big moves within this range. Although finally sustaining beyond 6869-7321 will decide next big moves confirmations but its first indication will be from 7128-7215 therefore should be firstly watched in the coming 2/3 sessions.