Finally rally above 9000 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(03-03-2017)

Nifty-Intra Day Chart (02-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation patterns formations between 8940-8992
2- Sharp fall in last hour
3- Whole day actual trading between 8880-8992

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after sharp fall in last hour but selling patterns were not seen and consolidation patterns formations in first 5 hours therefore view will not be Bearish because today down moves will be cooling down of sentiments which turned heated after 300 points Dow Jones rally last Wednesday.

As above reasons therefore expected that finally rally will be seen above 9000 after follow up consolidation in next 1/2 sessions because Indian markets are Bullish and any deeper correction can not be considered after such 1 day fall.

Rally continuation after short term correction completion 

Intra Day Chart Analysis & Market Outlook

(02-03-2017)

Nifty-Intra Day Chart (01-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 70 Points up in first 20 minutes after strong opening
2- 5 Hours consolidation Patterns between 8927-8949 
3- Whole day actual trading between 8910-8950

Conclusions from intra day chart analysis 

As most Asian markets were trading positive after some consolidation yesterday therefore 70 Points up in first 20 minutes after strong opening. Although slipping from higher levels in last half hour but 5 hours good consolidation between 8927-8949 therefore rally continuation is expected after previous 3 sessions short term correction completion.

Firstly watch next supports for on going correction continuation/completion 

Intra Day Chart Analysis & Market Outlook

(01-03-2017)

Nifty-Intra Day Chart (28-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Selling patterns formation between 8888-8897
3- Whole day actual trading between 8868-8914

Conclusions from intra day chart analysis 

Although firstly down moves but selling patterns formation between 8888-8897 were also seen therefore today trading will be understood with mixed Patterns formations and Nifty will remain sideways between following supports and resistances:-

1- Supports between 8864-8876
2- Supports between 8812-8834
3- Supports between 8717-8750(strong supports)
1- Resistance between 8918-8927
2- Resistance between 8941-8950
3- Resistance between 8967-8981

As one sided technical position formations was not seen today therefore Nifty will have to traded and prepare for next decisive moves within above mentioned supports and resistances. Correction is on and no confirmation of its completion yet therefore some more down moves can not be ruled out but next supports are lying between 8864-8876 and firstly sustaining it beyond should be watched for on going correction continuation/completion.

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

Rally continuation expectations towards and above 9000

Intra Day Chart Analysis & Market Outlook

(23-02-2017)

Nifty-Intra Day Chart (22-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves with intraday corrections
2- More than 2 hours consolidation patterns formations between 8906-8931
3- Whole day actual trading between 8906-8961

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Rally continuation expectations":-

As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected 

Rally continuation with minor correction was seen today but intraday selling patterns were not developed and consolidation through Up moves with intraday corrections and more than  2 hours consolidation patterns formations between 8906-8931 therefore rally continuation is expected towards and above 9000.

Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(22-02-2017)

Nifty-Intra Day Chart (21-Feb-2017):

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-Technical Patterns and Formations in today intraday charts

1- Consolidation between 8861-8877
2- Whole day actual trading between 8861-8920

Conclusions from intra day chart analysis 

Although firstly some down moves but lower levels good consolidation between 8861-8877 therefore up moves were seen in last 2 hours. As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected because selling patterns have not been seen yet which are must on intraday and EOD charts for decisive down moves. 

Sustaining above 8855 will confirm rally towards and above 9000

Intra Day Chart Analysis & Market Outlook

(20-02-2017)

Nifty-Intra Day Chart (17-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel after strong opening
2- Consolidation Patterns between 8805-8836
3- Fast slipping from 8855
4- Whole day actual trading between 8805-8896

Conclusions from intra day chart analysis 

Although fast slipping after strong opening but down moves were in Bullish Falling Channel and lower levels consolidation Patterns formations also between 8805-8836 therefore rally continuation is expected in next week. As not sustaining at higher levels and closing within previous 9 sessions trading range(8715-8826) at 8821.70 as well as fast slipping again from 8855 last Friday therefore only sustaining 8855 should be watched in the beginning of next week for on going rally continuation confirmations towards and above 9000.

Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(17-02-2017)

Nifty-Intra Day Chart (16-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8720-8743
2- Follow up consolidation at higher levels after up moves
3- Whole day actual trading between 8720-8783

Conclusions from intra day chart analysis 

Although yesterday closing was near the lower levels of the day after sharp down from higher levels but we were not Bearish and posted following named topic yesterday:-

Still Rally continuation Expectations

As lower levels consolidation and after that up moves with follow up consolidation therefore on going rally continuation is expected tomorrow. Nifty is sideways between 8715-8826 for the last 9 sessions and firstly sustaining above 8826 should also be watched for fresh and decisive up moves towards 9000 and it is expected also. 

Still Rally continuation Expectations

Intra Day Chart Analysis & Market Outlook

(16-02-2017)

Nifty-Intra Day Chart (15-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Consolidation Patterns formations in last 4 hours between 8713-8752
3- Whole day actual trading between 8713-8807

Conclusions from intra day chart analysis 

Although 0.77% negative closing after slipping from higher levels but firstly Down moves in Bullish Falling Channels and after that last 4 hours consolidation Patterns formations therefore it will be understood that Indian markets in consolidation process and preparing for decisive up moves.

Previous 7 sessions sideways trading was between 8715-8826 and Nifty slipped below it to 8713 today but closed above it with whole day intraday consolidation therefore still rally continuation is expected above 8826 in the coming 3/4 sessions.

Emergence of rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(15-02-2017)

Nifty-Intra Day Chart (14-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Whole day down moves in Bullish Falling Channels
2- Sharp down in last 20 minutes
3- Whole day actual trading between 8773-8820

Conclusions from intra day chart analysis 

Although most time negative zone trading and sharp down in last 20 minutes also but whole day down moves in Bullish Falling Channels which is consolidation pattern therefore emergence of rally continuation expectations above last 7 sessions highest(8826). As Indian markets under performed Global markets therefore some more follow up consolidation is also required for fresh and decisive up moves beginning.

Expected that Nifty firstly trade between today trading range and prepare for fresh rally as well as sustaining it beyond should also be watched for confirmations.

Intra Day Chart Analysis & Market 

Outlook(14-02-2017)

Nifty-Intra Day Chart (13-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 8755-8826

Conclusions from intra day chart analysis 

Although firstly slipping after positive opening but in Bullish Falling Channel therefore up moves in last 2 hours but in Bearish Rising Channel therefore again today market will understood with mixed Patterns formations.

Last 6 sessions trading between 8715-8826 with last 3 sessions trading with mixed Patterns formations therefore Nifty has to prepare for next trend and decisive moves within and near about this range which will be done tomorrow and finally sustaining beyond this range will confirm next trend which should be firstly watched in the coming sessions.

8715-8822 will confirm next trend

Intra Day Chart Analysis & Market Outlook

(13-02-2017)

Nifty-Intra Day Chart (10-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- More than 2 hours trading with mixed Patterns between 8788-8804
3- Last 2 hours high volatility 
4- Whole day actual trading between 8772-8822

Conclusions from intra day chart analysis 

Although firstly consolidation through down moves in Bullish Falling Channels but after that whole day trading with mixed Patterns formations with last hours high volatility also therefore one sided intraday patterns formations will not be understood. As Indian markets under performed all day Global markets despite whole day positive zone trading therefore view will not be Bullish despite Green closing last Friday.

Nifty is trading between 8715-8822 for the last 5 sessions and traded near the higher levels of this range last Friday but no clear patterns formations therefore Nifty has to prepare for next trend within and near about this range which will be done in the beginning of next week and finally sustaining beyond this range will confirm next trend.

Next trend confirmations through levels

Intra Day Chart Analysis & Market Outlook

(10-02-2017)

Nifty-Intra Day Chart (09-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sharp 50 points up immediately after opening
2- Loosing 97 points in 2 hours
3- Slow up moves in last 4 hours in Broadening pattern
4- Whole day actual trading between 8724-8821

Conclusions from intra day chart analysis 

Only whole day volatility with and as such no intraday technical position formations as well as most time trading within previous 3 sessions trading range therefore next trend confirmations will be through valid break out of last 4 sessions trading range(8715-8821) which should be firstly watched in the coming sessions

As out of station therefore Stock Market Outlook of today is not being updated

Possibility of rally continuation

Intra Day Chart Analysis & Market Outlook

(08-02-2017)

Nifty-Intra Day Chart (07-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8770-8809
2- Volatility in last hour
3- Whole day actual trading between 8742-8809

Conclusions from intra day chart analysis 

Although last hour volatility after fat slipping but consolidation patterns formation in first 5 hours therefore strong possibility of rally continuation above day's highest and possibility of up moves above 9000 as well despite 0.32% negative closing today 

Follow up consolidation tomorrow will mean sharp up moves above 9000

Intra Day Chart Analysis & Market Outlook

(07-02-2017)

Nifty-Intra Day Chart (06-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel but with intraday corrections
2- Lower levels supports
3- Last hours trading with Mixed Patterns formations
4- Whole day actual trading between 8770-8814

Conclusions from intra day chart analysis 

Although whole day positive zone trading after gap up opening but clear consolidation patterns were not seen and Mixed Patterns formations developed therefore view will be cautiously Bullish and valid break out of today trading range should be firstly watched for next trend confirmations.

Bullish rally is on and once follow up consolidation tomorrow will mean sharp up moves above 9000 will be seen very shortly. 

Rally continuation confirmations required through sustaining above 8757  

Intra Day Chart Analysis & Market Outlook

(03-02-2017)

Nifty-Intra Day Chart (02-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channels
2- Slow up moves with intraday corrections
3- Sharp down in last half hour
4- Whole day actual trading between 8686-8757

Conclusions from intra day chart analysis 

Although firstly lower levels consolidation through Down moves in Bullish Falling Channels after weaker opening but last 3 hours slow up moves with intraday corrections therefore not sustaining at higher levels because some selling can not be ruled out through slow up moves.

Positive closing above 8700 today but some intraday selling also therefore follow up consolidation is firstly required for decisive up moves above today highest(8757) which will be done within and near about today trading range. 

Rally is on and no confirmation of its completion yet therefore its continuation is still expected after follow up consolidation but sustaining above 8757 should also be watched for confirmations.

Rally continuation Expectations

Intra Day Chart Analysis & Market Outlook

(02-02-2017)

Nifty-Intra Day Chart (01-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sideways consolidation before and during Budget between 8538-8587
2- 105 points sharp up in just 12 minutes
3- Rally continuation with intraday consolidation 
4- Whole day actual trading between 8538-8722

Conclusions from intra day chart analysis 

Although previous 2 sessions closing was near the lower levels of the day but we told only for expectations of rally continuation above 8672 after follow up consolidation and it was seen today.

As whole day consolidation today therefore rally continuation is expected in the coming sessions also and until complete selling patterns will not develop till then on going rally will remain continued.

Post Budget Rally confirmation through crucial Levels

Intra Day Chart Analysis & Market Outlook

(01-02-2017)

Nifty-Intra Day Chart (31-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Volatility
4- Whole day actual trading between 8553-8631

Conclusions from intra day chart analysis 

Although Union Budget expectations but whole day weakness due to weaker closing of US markets and most negative news of H-1B visa bill presentation in US congress therefore Indian IT companies crashed and resultant negative closing of Indian markets today. As clear one sided position formation was not seen and and both consolidation and distribution patterns developed as well as whole day news based market today therefore no conclusion can be drawn only from intraday charts analysis. 

Union Budget will be tabled tomorrow but news based today market with Mixed patterns formations therefore high volatility can not be ruled tomorrow and post Budget rally confirmation will be through valid break out crucial levels(8549-8672) despite expectations of rally continuation above 8672 after follow up consolidation. 

Finally Rally continuation after follow up Consolidation

Intra Day Chart Analysis & Market Outlook

(31-01-2017)

Nifty-Intra Day Chart (30-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8618-8640
2- Whole day actual trading between 8618-8662

Conclusions from intra day chart analysis 

Following lines were told on 29-01-2016 in "Firstly Very Short Term correction before Budget":-

Very Short Term correction is firstly expected in the beginning of next week.

As was told 100% same happened and Nifty traded most time in Red below previous closing(8641.25) and also closed negative today near the lower levels of the day after 44 points sideways trading but consolidation patterns formations near the lower levels of the day therefore 1st signal of on going rally continuation after last 2 sessions correction completion.

Trading between 8624-8672 with higher levels selling last Friday therefore more consolidation is also required for next up moves and its happening tomorrow will mean fresh strong beginning on 1st Feb 2017. 

Dow Jones is trading 200 points down at this moment today and its such weaker closing will mean high possibility of weaker Asian markets tomorrow morning and resultant Indian markets may also open negative but expected that finally rally will remain continued above 8672 after follow up consolidation.

Firstly Very Short Term correction before Budget

Intra Day Chart Analysis & Market Outlook

(30-01-2017)

Nifty-Intra Day Chart (27-Jan-2017):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8653-8672
2- Whole day actual trading between 8624-8672

Conclusions from intra day chart analysis 

Although 0.45% Green closing after whole day positive zone trading but clear selling patterns formations were also seen and no consolidation patterns formations therefore Very Short Term correction is firstly expected in the beginning of next week.

Correction may be sideways near about day's trading range(8624-8672) also but once slipping sharply below day's lowest also can not be ruled out. As Union Budget on 1st Feb 2017 therefore Nifty will prepare for post Budget moves in the coming 2 sessions without sustaining above day's highest(8672). 

Expected that finally decisive moves beyond day's trading range will be seen after Budget and before that Nifty will prepare for that within and near about 8624-8672.