Rally Continuation after Very Short Term Correction completion

Intra Day Chart Analysis & Market Outlook

(11-05-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Up moves after opening
2- Consolidation between 9374-9392
3- Slow up moves in last hour
4- Whole day actual trading between 9336-9414

Conclusions from intra day chart analysis 

As IMD forecast of better Mansoon yesterday evening therefore firstly up moves after positive opening and after that consolidation also between 9374-9392 but after that slow up moves in last hour therefore rally continuation is expected after Very Short Term Correction completion and until Nifty will not sustain below 9374 after complete selling till then decisive down moves will not be seen.

8308-8338 will confirm next Big Moves

Intra Day Chart Analysis & Market Outlook

(10-05-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8308-8321
2- Consolidation between 8310-8320
3- Selling between 8330-8338
4- Selling between 8324-8330
5- Selling between 8323-8330
6- Whole day actual trading between 8308-8338

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Intra Day Chart Analysis & Market Outlook(09-05-2017)":-

Firstly lower levels supports but after that most time sideways trading with Mixed Patterns formations therefore on going correction continuation/completion will get confirmation from valid break out today trading range(9298-9338) which should be firstly watched in the coming sessions.

As again whole day narrow range today trading with higher levels selling and lower levels consolidation means Mixed Patterns today and:-

1- Today whole day 30 points trading within yesterday trading range
2- Today closing within yesterday trading range at 8316.85

As last 2 sessions trading within 8308-8338 with Mixed Patterns formations and its valid break out will give first strong signal of next big moves which should be watched in the coming sessions for confirmations.

Intra Day Chart Analysis & Market 

Outlook(09-05-2017)

Nifty-Intra Day Chart (08-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Support between 9298-9310
2- Most time sideways trading with Mixed Patterns formations between 9307-9329
3- Whole day actual trading between 9298-9338

Conclusions from intra day chart analysis 

Firstly lower levels supports but after that most time sideways trading with Mixed Patterns formations therefore on going correction continuation/completion will get confirmation from valid break out today trading range(9298-9338) which should be firstly watched in the coming sessions.

As busy therefore Stock Market Outlook of today(08-05-2017) is not being updated.

Short Term Correction Expectations

Intra Day Chart Analysis & Market Outlook

(05-05-2017)

Nifty-Intra Day Chart (04-May-2017):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formations between 9337-9356
2- Up moves in Bearish Rising Channel
3- Selling patterns formations between 9353-9365
4- Whole day actual trading between 9324-9365

Conclusions from intra day chart analysis 

Although today closing at life time highest level but today intraday charts are showing selling patterns formations therefore Short Term Correction is expected which may begin either tomorrow or in the beginning of next week.

Intra Day Chart Analysis & Market 

Outlook(04-05-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- More than 5 hours sideways trading with Mixed Patterns formations between 9299-9332
3- Whole day actual trading between 9299-9337

Conclusions from intra day chart analysis 

As today intraday charts showed some indications of consolidation immediately after opening therefore told following line at 09:57 AM today in "Post-open Outlook(03-05-2017)":-

view will be watchful and firstly valid break out of yesterday trading range(9270-9352) should be watched for next decisive moves confirmations.

As firstly down moves in Bullish Falling Channel and after that whole day trading with Mixed Patterns formations therefore same above levels watching view which was updated today morning because one sided intraday patterns formations were not seen today. 

Post-open Outlook(03-05-2017)

Although Nifty(May Fut) moved into negative zone after slipping from higher levels but today intraday charts are showing some indications of consolidation also therefore view will be watchful and firstly valid break out of yesterday trading range(9270-9352) should be watched for next decisive moves confirmations.

Correction Continuation Expectations towards next Supports

Intra Day Chart Analysis & Market Outlook

(03-05-2017)

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

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Technical Patterns and Formations in today intraday charts

1- 48 Points Pull Back Rally in first hour
2- Selling between 9335-9352
3- 82 points sharp down in 1 hour
4- Last 4 hours up moves in Bearish Rising Channels
5- Whole day actual trading between 9270-9352

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Finally slipping after a Pull Back Rally":-

1- Pull Back rally can not be ruled out tomorrow which will not sustain 
2- finally Nifty will slip below day's lowest(9283) in the next 1/2 sessions 

As was told yesterday 100% same happened today and firstly 48 Points Pull Back Rally was seen which could not sustain and Nifty slipped below 9283 towards 9269.90 within first 2 hours today.

Although last 4 hours up moves and  positive closing also today but those up moves were in Bearish Rising Channels therefore view will not be Bullish. As sufficient selling patterns formations today therefore correction continuation is expected towards next supports between 9253-9263. 

Finally slipping after a Pull Back Rally 

Intra Day Chart Analysis & Market Outlook

(02-05-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Selling between 9295-9314
2- Up moves in Bearish Rising Channel
3- Last 2 hours trading with Mixed Patterns formations between 9298-9318 
4- Whole day actual trading between 9283-9318

Conclusions from intra day chart analysis 

Although sufficiently good intraday selling patterns formations last Friday but Mixed Patterns formations were also seen between 9298-9318 in last 2 hours therefore a Pull Back rally can not be ruled out tomorrow which will not sustain and finally Nifty will slip below day's lowest(9283) in the next 1/2 sessions.

Very Short Term correction expectations

Intra Day Chart Analysis & Market Outlook

(28-04-2017)

Nifty-Intra Day Chart (27-Apr-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- Support between 9335-9343
4- Selling between 9356-9366

Conclusions from intra day chart analysis 

Although some consolidation and supports also between 9335-9343 but sufficiently good selling was seen today therefore Very Short Term correction is expected in the coming sessions.

Intra Day Chart Analysis & Market 
Outlook(27-04-2017)

Nifty-Intra Day Chart (26-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours trading with Mixed Patterns formations between 8339-8367
2- High volaility in last hour
3- Whole day actual trading between 8302-8367

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day but 4 Hours today trading was with Mixed Patterns formations and high volatility in last hour also therefore some more consolidation is firstly required between and near about today trading range for decisive up moves above today highest because one sided clear intraday patterns were not seen today.

27 Sessions trading was seen 9020-9274 and this range was broken out on 25-04-2017 and previous 2 sessions closing was above it. 3 Sessions closing above 9274 will be technically break out confirmation,its happening tomorrow will mean fresh big rally after 27 sessions like big range break out confirmations.

Expected that rally will remain continued but after follow up consolidation between 8302-8367 which should also be watched tomorrow.

Firstly Watch sustaining beyond 27 sessions trading range for Next big moves confirmations

Intra Day Chart Analysis & Market Outlook

(25-04-2017)

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

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Technical Patterns and Formations in today intraday charts

1- Positive opening after Dow's Futures trading more than 130 points up.
2- Whole day up moves after French news led Dow's Futures gaining 200 points and all European markets gaining 2% to more than 4%.
3- Whole day actual trading between 9131-9225

Conclusions from intra day chart analysis

As following news since today morning therefore whole day up moves after positive opening today:-

1- French stocks head for 9-year high after Macron win eases ‘Frexit’ fears
2- Dow industrials set to rocket up 200 points higher on relief over French vote

(Just click above topic links and go through whole news)

As whole day today up moves were due to global cues of easing ‘Frexit’ fears and as such no specific intraday trading pattern formations therefore firstly sustaining above previous 27 sessions trading range(9020-9274) highest is required because multiple resistances are lying above today highest and 9274.

Only Global cues led intraday up moves within previous 27 sessions trading range(9020-9274) today and finally sustaining it beyond should be watched in the coming sessions for next big moves because that will more than 27 sessions like big sideways market break out.

Post-open Outlook(24-04-2017)

As Dow's Futures is trading more than 130 points up today morning therefore up moves after positive opening today but sufficiently good selling was seen between 9148-9165 last Friday therefore firstly sustaining it beyond should be watched for next decisive moves confirmation.

Next big moves confirmation from next last Supports

Intra Day Chart Analysis & Market Outlook

(24-04-2017)

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

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Technical Patterns and Formations in today intraday charts

1- More than 3 hours selling between 9148-9165
2- Last hour up moves in Bearish Rising Channel
3- Whole day actual trading between 9089-9180

Conclusions from intra day chart analysis 

As sufficiently good selling last Friday therefore correction continuation is expected towards next last supports(9025-9040) of previous 26 sessions trading range(9020-9274) and finally sustaining beyond these supports will confirm next big moves because that will more than 26 sessions like big sideways market break out.

Intra Day Chart Analysis & Market 
Outlook(20-04-2017)

Nifty-Intra Day Chart (19-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- Most time trading with Mixed Patterns formations between 9076-9114 
2- Last hour up moves
3- Whole day actual trading between 9076-9120

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day after last hour up moves but most time trading with Mixed Patterns formations between 9076-9114 therefore Nifty has to prepare for next decisive moves within and near about this range and finally sustaining it beyond will confirm next trend which should be firstly watched tomorrow.

Next Big moves confirmations from last supports range 

Intra Day Chart Analysis & Market Outlook

(19-04-2017)

Nifty-Intra Day Chart (18-Apr-2017):-

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Technical Patterns and Formations in today intraday charts

1- Strong 78 points Pullback Rally in first hour
2- 2 Hours sideways trading between 9202-9217
3- Last 3 hours down moves after Weakness in all European markets and sharp decline in Dow's Futures  
4- Whole day actual trading between 9096-9217

Conclusions from intra day chart analysis 

Following lines were told in previous Outlook on 16-04-2017 in "Firstly Watch next Supports amid Pull Back Rally expectations":-

emergence Pull Back Rally expectations

As was told 100% same happened and strong 78 points Pullback Rally in first hour today

Following lines with supports were told on 11-04-2017 in "Correction Continuation towards next supports":-

now Nifty will be understood sideways between 9020-9274. 

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

Previous Outlooks on home page are live proofs of this fact that we started to tell for correction from 03-04-2017 and that started immediately after that as well as still in continuation. Sideways market between 9020-9274 was also updated with above mentioned 3 supports and Nifty closed below 2nd supports range today. 

Certainly correction continuation within 24 sessions trading range(9020-9274) and finally sustaining it beyond will generate big moves,last supports range within it are between 9025-9040 which should be firstly watched for it confirmations. 

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

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