Firstly Watch next Supports amid Pull Back Rally expectations

Intra Day Chart Analysis & Market Outlook

(17-04-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 9183-9193
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 9145-9193

Conclusions from intra day chart analysis 

Although firstly good selling between 9183-9193 but after that most time consolidation also through Down moves in Bullish Falling Channels therefore emergence Pull Back Rally expectations because Very Short Term indicators have also turned oversold. 

Following supports were updated on 12-04-2017 in "Correction continuation towards next supports":-

1- 9148-9166
2- 9110-9124
3- 9025-9040

Nifty closed within 1st supports range at 9150.80 last Thursday and firstly its valid break out should be watched in next week for the life of on going correction.

Correction continuation towards next supports 

Intra Day Chart Analysis & Market Outlook

(13-04-2017)

Nifty-Intra Day Chart (12-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sharp down after 20 minutes positive zone trading
2- Selling patterns formation between 9184-9191
3- Selling patterns formation between 9212-9226
4- Whole day actual trading between 9162-9246

Conclusions from intra day chart analysis 

Although most Asian markets were weak today morning but Indian markets out performed and opened positive and traded also 20 minutes in Green. As selling at higher levels in previous sessions therefore sharply down 80 points in only 30 minutes. Sufficiently good selling was also seen in last 5 hours today therefore correction continuation is expected below today lowest(9162) and towards following next supports:-

1- 9148-9166
2- 9110-9124
3- 9025-9040

Firstly Watch levels for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(12-04-2017)

Nifty-Intra Day Chart (11-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- Strong recovery from lower levels 
2- Mixed Patterns between 9217-9242 
3- Whole day actual trading between 9173-9242

Conclusions from intra day chart analysis 

Although all the Asian markets were trading weak but Indian markets out performed and opened flat as well as strongly recovered from lower levels. As last more than 5 hours trading with Mixed Patterns formations between 9217-9242 which was within next resistances between 9226-9250 therefore valid break out of 9217-9250 should be firstly watched tomorrow for strong signal of correction completion above 9250 and correction continuation below 9217.

Correction Continuation towards next supports

Intra Day Chart Analysis & Market Outlook

(11-04-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Previous closing at 9198.30
2- Only up and down moves without any specific position formations
3- Whole day actual trading between 9175-9225

Conclusions from intra day chart analysis 

As only up and down moves above and below previous closing without any specific position formations therefore no view can be formed only from today intraday trading patterns formations and conclusions will be drawn from other following studies:-

1- 14 Sessions trading range(9020-9191) was broken out on 03-04-2017.
2- Immediate supports range just above 14 sessions trading range were between 9193-9210.
3- Nifty slipped below immediate supports range but closed within it at 9198.30 last Friday.
4- Nifty closed below immediate supports range within 14 Sessions trading range at 9181.45 today.

As Nifty could not sustain above 14 sessions trading range and closed within it today therefore its break out on 03-04-2017 will be understood a false signal and now Nifty will be understood sideways between 9020-9274. 

Correction were told in all the previous 4 outlooks and it is being seen. Let complete consolidation develop then on going correction completion will be considered and till then its continuation can not be ruled out towards following next supports within 14 sessions trading range:-

1- 9148-9166
2- 9110-9124
3- 9025-9040

Firstly watch  crucial supports for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(10-04-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 9226-9250
2- Down moves in last hour
3- Whole day actual trading between 9189-9250

Conclusions from intra day chart analysis 

Very Short Term correction expectations were updated in all the previous 3 outlooks and it was seen also after follow up selling last Friday. Following lines were told on 06-04-2017 in "Firstly watch next supports for today started correction continuation/completion":-

1- view will not be Bullish.
2- follow up selling tomorrow will mean slipping towards next supports(9193-9210) which has turned most crucial because its valid break down will mean entering into  previous 14 sessions trading range(9020-9191)

Nifty slipped below above mentioned  most crucial next supports(9193-9210) but closed within it at 9198.30 last Friday therefore it is still intact. As no signal of on going correction completion yet therefore firstly sustaining beyond mentioned crucial supports should be watched in the beginning of next week for the life of on going correction. 

As almost 5 hours intraday selling between 9226-9250 and it will be sufficiently strong resistance therefore follow up selling tomorrow will result correction continuation within  previous 14 sessions trading range(9020-9191) and until Nifty will not sustain above 99250 after complete consolidation till then decisive up moves will not be seen. 

Firstly watch next supports for today started correction continuation/completion

Nifty-Intra Day Chart (Apr 05 & Apr 06,2017):-

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Technical Patterns and Formations in last 2 Sessions intraday charts

1- Whole day up moves in Bearish Rising Channel on 05-04-2017
2- Selling between 9234-9245 on 06-04-2017
3- Support between 9220-9230 on 06-04-2017
4- Up moves with seling patterns in last hour
5- 2 Sessions actual trading between 9220-9274 

Conclusions from 2 Sessions intra day chart analysis 

As whole day up moves in Bearish Rising Channel on 05-04-2017 therefore weak opening today and selling also between 9234-9245 in first hour today. Some supports are seen at lower levels of the day today but last up moves were with selling patterns in last hours therefore view will not be Bullish.

Very Short Term correction expectations was updated in both previous Outlooks and it was seen today after intraday selling patterns in both previous sessions. As some intraday support was seen between 9220-9230 today therefore firstly its valid break down should be watched tomorrow for today started correction continuation/completion.

As sufficient selling was seen in both previous sessions therefore once follow up selling tomorrow will mean slipping towards next supports(9193-9210) which has turned most crucial because its valid break down will mean entering into  previous 14 sessions trading range(9020-9191) and correction continuation possibility within this range.

Firstly watch above mentioned following next supports for today started correction continuation/completion:-

1- 9220-9230
2- 9193-9210

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

Finally rally continuation amid Very Short Term correction expectations

Intra Day Chart Analysis & Market Outlook

(05-04-2017)

Nifty-Intra Day Chart (03-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- More than 2 hours consolidation between 9193-9210
2- Last hours up moves with intraday corrections and consolidation
3- Whole day actual trading between 9193-9245

Conclusions from intra day chart analysis 

As selling in last hours on 31-03-2017 and Short Term Indicators have turned over bought therefore firstly Very Short Term correction was expected last Monday but gap up opening was seen last Monday because some Asian markets were trading strong and heavy weight Reliance Industries opened more than 2% up. 

Firstly more than 2 hours consolidation was seen after slipping below 9200 because last hours selling was seen between 9177-9191 on 31-03-2017. As last hours up moves with intraday corrections and consolidation last Monday therefore finally rally continuation is expected because previous 14 sessions trading range(9020-9191) also broken out. It should be kept in mind that Short Term Indicators have turned over bought and Very Short Term correction may be seen any day after some intraday selling which will be good for the strength of on going rally.

Emergence of Very Short Term correction expectations

Intra Day Chart Analysis & Market Outlook

(03-04-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 9153-9170
2- Last hours selling elling between 9177-9191 
3- Whole day actual trading between 9153-9191

Conclusions from intra day chart analysis 

As firstly more than 4 hours trading with Mixed Patterns formations and after that selling in last hours also therefore some down moves are expected in the beginning of next week. Last 14 sessions trading between 9020-9191 and Short Term Indicators have turned over bought also therefore emergence of Very Short Term correction expectations within this range in next week.

On going rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(31-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours Down moves in Bullish Falling Channel
2- Derivative expiry led last hours volatility 
3- Whole day actual trading between 9141-9183

Conclusions from intra day chart analysis 

Although fast slipping from higher levels in last 5 minutes but it will be understood a part of derivative expiry led last hours volatility only and on going rally continuation is expected because more than 4 hours Down moves were also seen in Bullish Falling Channel.

Up moves continuation expectations

Intra Day Chart Analysis & Market Outlook

(30-03-2017)

Nifty-Intra Day Chart (29-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 5 Hours sideways trading within 30 points between 9110-9140
1- Consolidation between 9110-9124
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 9110-9153

Conclusions from intra day chart analysis 

Firstly 5 hours sideways trading within 30 points between 9110-9140 with lower levels consolidation and slipping from higher levels also which were due to oppositions parties arguments during GST debate in Lok Sabha. As Down moves were in Bullish Falling Channels therefore up moves were seen in last hour and its continuation is also expected. 

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

Still rally continuation  expectations above last 10 sessions trading range highest

Intra Day Chart Analysis & Market Outlook

(28-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Minor selling between 9072-9087
2- Consolidation between 9025-9040
3- Down moves in Bullish Falling Channel 
4- Whole day actual trading between 9025-9087

Conclusions from intra day chart analysis 

As following reasons therefore slipping fast after weak opening:-

1- Dow's Futures weaker trading by more than 120 points.
2- Reliance Industries shares crashing as Sebi curbs its futures trading
3- Skymet Weather has predicted that the upcoming Southwest Monsoon 2017 is likely to be below normal.

Following lines were told yesterday in "Finally rally after follow up consolidation":-

finally rally will be seen after follow up consolidation within last 9 sessions trading range(9020-9186)

Following lines were told on 22-03-2017 in "Finally rally continuation expectations after follow up consolidation within and above gap support ":-

1- gap between 8976-9062 and this gap is next strong support of Nifty.
2- Still expected that finally rally will remain continued after follow up consolidation within and above mentioned gap support

As today deeper down moves were due to above mentioned negative news and Nifty got support within last 10 sessions trading range(9020-9186) at 9024.65 therefore same Still same view that finally rally will remain continued above last 10 sessions trading range highest(9186) after follow up consolidation within and above mentioned gap support.

Finally rally after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(27-03-2017)

Nifty-Intra Day Chart (24-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sharp up after positive opening
2- 5 Hours trading with Mixed Patterns formations between 9108-9133
3- Sharp down fron higher levels
4- Down moves in Bullish Falling Channel in last half hour
5- Whole day actual trading between 9090-9133

Conclusions from intra day chart analysis 

Although 5 hours trading with Mixed Patterns formations and sharp up with sharp down also but Down moves in Bullish Falling Channel in last half hour therefore view will not be Bearish despite closing near the lower levels of the day because consolidation patterns were also seen. Still expected that finally rally will be seen after follow up consolidation within last 9 sessions trading range(9020-9186)

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

Finally rally continuation expectations after follow up consolidation within and above gap support 

Intra Day Chart Analysis & Market Outlook

(23-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 9037-9072 
2- Whole day actual trading between 9020-9072  

Conclusions from intra day chart analysis 

As crashing like situation in all the Global markets therefore huge gap down opening in Indian markets but more than 5 hours trading with mixed patterns formations which means  that next trend will be decided from break out of that gap(8976-9062) which was formed on 14-03-2017 after UP Elections results announcement and Nifty closed within it at 9030.45 today.

13 Sessions trading range(8860-8993) was broken out forcefully on 14-03-2017 with gap between 8976-9062 and this gap is next strong support of Nifty. Although last 4 sessions are showing down moves but without too much selling patterns formations and consolidation was also seen and today sharp down moves were due to Global markets pressure therefore view will not be Bearish. Still expected that finally rally will remain continued after follow up consolidation within and above mentioned gap support.

Finally rally above 9200 after 2/3 sessions follow up consolidation

Intra Day Chart Analysis & Market Outlook

(22-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- 4 Hours Down moves in Bullish Falling Channel
2- Consolidation between 9088-9108
3- Whole day actual trading between 9088-9147

Conclusions from intra day chart analysis 

Although most time negative zone trading with little down closing but lower levels good consolidation after 4 hours Down moves in Bullish Falling Channel therefore it will be understood that Indian markets are in consolidation phase and resultant finally rally will be seen above 9200 after 2/3 sessions follow up consolidation despite now SGX Nifty trading 45 points down after 175 slipping of Dow Jones today.

Finally rally above 9200

Intra Day Chart Analysis & Market Outlook

(21-03-2017)

Nifty-Intra Day Chart (20-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 9117-9127
2- Whole day actual trading between 9117-9147

Conclusions from intra day chart analysis 

Although whole day negative zone trading and 0.36% down closing also but good consolidation Patterns formations between 9117-9127 therefore some up moves are expected tomorrow. 

Following lines were told yesterday in "Rally continuation expectations above 9200 after follow up consolidation":-

1- good consolidation was seen between 9130-9140 on 16-03-2017
2- Selling between 9156-9170
3- Last 2 sessions actual trading between 9130-9186 without one sided intraday patterns formations therefore Nifty has to traded and prepare for next decisive moves within this range which will be done in the beginning of next week

Although most time trading below 8130 today but good consolidation was seen below it therefore view will not be Bearish and once sustaining above 9140 will mean strong indication of fresh up moves beginning. As selling was seen below 9170 last Friday therefore sustaining above 9170 is must after follow up complete consolidation for next rally beginning.

As lower levels consolidation today also after good consolidation on 16-03-2017 therefore still expected that finally rally will be seen above 9200 after follow up consolidation.

Rally continuation expectations above 9200 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(20-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- More than 2 hours down moves in Bullish Falling Channel
2- Selling between 9156-9170
3- Whole day actual trading between 9148-9186

Conclusions from intra day chart analysis 

Although firstly more than 2 hours down moves in Bullish Falling Channel but after that selling also between 9156-9170 therefore intraday patterns will be understood with mixed Patterns formations between 9148-9186 and its valid break out will be next decisive moves first indication.

As good consolidation was seen between 9130-9140 on 16-03-2017 and it will first support but Indian markets under performed Global markets on that day therefore view will be cautiously Bullish.

Last 2 sessions actual trading between 9130-9186 without one sided intraday patterns formations therefore Nifty has to traded and prepare for next decisive moves within this range which will be done in the beginning of next week and finally sustaining beyond this range should be watched for Short Term correction below 9130 and rally continuation above 9186 despite still expectation of rally continuation above 9200 after follow up consolidation in next week.

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

Finally rally will remain continued above 9150 despite whatsoever decision by FOMC tonight

Intra Day Chart Analysis & Market Outlook

(15-03-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel 
3- Whole day actual trading between 9076-9106

Conclusions from intra day chart analysis 

Although firstly up moves in Bearish Rising Channel but Down moves in Bullish Falling Channels were also seen therefore high possibility of rally continuation above today highest despite today closing near the lower levels of the day. As sufficiently good intraday consolidation patterns formations in last 2 sessions therefore it is confirm that finally rally will remain continued above 9150 despite whatsoever decision by FOMC tonight.