Rally after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(12-12-2017)

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

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Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 10309-10322
2- Consolidation between 10283-10301
3- Mixed Patterns formation between 10312-10329 
4- Whole day actual trading between 10283-10329

Conclusions from intra day chart analysis 

Rally is on and whole day positive zone today trading with lower levels consolidation but higher levels trading also with Mixed Patterns formation as well as following resistances above today highest therefore firstly Nifty has to consolidate for decisive up moves:- 

1- 10340-10364
2- 10383-10402
3- 10440-10482

Expected that rally will remain continued but follow up consolidation is must and Very Short Correction also can not be ruled out because Very Short Term indicators have also turned overbought and above resistances are also lying.

As I was out of station therefore Stock Market Outlook of today(11-12-2017) is not being updated.

Signals of correction completion

Intra Day Chart Analysis & Market Outlook

(08-12-2017)

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

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Technical Patterns formation in today intraday charts

1- Whole day up moves with intraday corrections
2- Whole day actual trading between 10062-10182

Conclusions from intra day chart analysis

Following lines were told on 03-12-2017 in "Firstly watch next big psychological level for the life of on going correction":-

Correction is on and its continuation is expected towards 10014 but slipping below 10000 also can not be ruled out if consolidation also develops near about it as well as sustaining beyond next big psychological level(10000) should be firstly watched in next week for the life of on going correction.

Correction continuation towards 10014 was told and Nifty bounced back on 07-12-2017 after correction lowest formations at 10033.35 on 06-12-2017 as well as whole day up moves with intraday corrections after positive opening therefore signals of correction completion.

As Very Short Term indicators have turned overbought after strong intraday rally on 07-12-2017 therefore next 1/2 sessions may remain sideways for cooling down of sentiment and follow up consolidation as well as once sustaining above today highest will mean rally continuation above life time highest after Intermediate Term correction completion.

Next levels will confirm next trend 

Intra Day Chart Analysis & Market Outlook

(07-12-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 100084-10104
2- Selling between 100052-10072
3- Whole day actual trading between 100034-10104

Conclusions from intra day chart analysis 

As crashing like situation in most Asian markets therefore weaker opening was seen in Indian markets and intraday selling also developed resultant closing near the lower levels of the day.

Only selling and no consolidation therefore following same view qhich was updated on 03-12-2017 in "Firstly watch next big psychological level for the life of on going correction":-

Correction is on and its continuation is expected towards 10014 but slipping below 10000 also can not be ruled out if consolidation also develops near about it as well as sustaining beyond next big psychological level(10000) should be firstly watched in next week for the life of on going correction.

Pre-open Outlook(06-12-2017)

Although good intraday consolidation yesterday but crashing like situation in most Asian markets therefore weaker opening will be seen in Indian markets. As more than 3 hours consolidation between 10070-10095 yesterday therefore this range will be immediate support of Nifty and firstly valid break out yesterday lowest should be watched today for the life of on going correction.

Firstly watch level for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(06-12-2017)

Nifty-Intra Day Chart (05-Dec-2017):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 10070-10095
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 10070-10147

Conclusions from intra day chart analysis 

As firstly lower levels consolidation and last hour down moves in Bullish Falling Channel after Mid sessions up moves therefore today trading will be understood with consolidation patterns formations and emergence of a Pull Back rally possibility as well as firstly valid break out today lowest should be watched in the coming sessions for the life of on going correction.

Correction Continuation

Intra Day Chart Analysis & Market Outlook

(05-12-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10143-10163
2- Selling between 10123-10141
3- Whole day actual trading between 10096-10163

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly watch next big psychological level for the life of on going correction":-

1- Bullish Falling Wedge formations in last Hour is indicating some up moves in the beginning of next week 
2- but will not be able to sustain above day's highest(10269) because good selling between 10205-10269 last Friday.

As was told 100% same happened and Nifty traded most of the time in positive zone and closed also in Green as well as could not move even above 10205.

As sufficiently good selling today therefore expected that Nifty will slip below today lowest(10095.70) and Correction continuation will remain continued towards 10014. 

Firstly watch next big psychological level for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(04-12-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10236-10269
2- Selling between 10205-10232
3- Bullish Falling Wedge formations in last Hour
4- Whole day actual trading between 10109-10269

Conclusions from intra day chart analysis 

As correction is on therefore firstly selling after Green opening and follow up selling also during Mid Session resultant whole day slipping and closing near the lower levels of the day. Bullish Falling Wedge formations in last Hour is indicating some up moves in the beginning of next week but will not be able to sustain above day's highest(10269) because good selling between 10205-10269 last Friday.

Correction is on and its continuation is expected towards 10014 but slipping below 10000 also can not be ruled out if consolidation also develops near about it as well as sustaining beyond next big psychological level(10000) should be firstly watched in next week for the life of on going correction.

As busy therefore Stock Market Outlook of today(01-12-2017) is not being updated.

Today started correction continuation towards and below next supports 

Intra Day Chart Analysis & Market Outlook

(30-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10372-10392
2- Whole day actual trading between 10346-10392

Conclusions from intra day chart analysis 

Selling was seen yesterday and follow up selling was seen today also therefore same following view which was updated yesterday in "Down Moves towards next supports":-

down moves are expected towards following next supports:-

1- 10310-10338
2- 10268-10282

As follow up selling today therefore today started correction continuation will be seen towards and below above mentioned supports.

Down Moves towards next supports

Intra Day Chart Analysis & Market Outlook

(29-11-2017)

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

Technical Patterns formation in today intraday charts

1- Selling between 10388-10409
2- Sharp fall
3- Last hours selling Patterns formation between 10356-10377
4- Whole day actual trading between 10356-10409

Conclusions from intra day chart analysis 

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

rally continuation is expected but follow up consolidation is must

As all the Asian markets were weak therefore firstly weaker opening and fresh selling was seen in place of follow up consolidation resultant sharp fall during Mid session. In last hours selling Patterns formation therefore down moves are expected towards following next supports:-

1- 10310-10338
2- 10268-10282

Rally continuation after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(28-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves were intraday corrections
3- Whole day actual trading between 10341-10407

Conclusions from intra day chart analysis 

Sentiment was much depressed today morning due to following negative developments:-

1- All the Asian markets were trading in Red and some were more 0.75% down.
2- SGX Nifty was more than 40 points weak
3- Negative news of S&P keeping India rating unchanged. 

When above dampening developments was today morning then we told following lines today at 08:04 AM in "Firstly Watch Levels after negative developments today morning":-

1- firstly sustaining beyond 10377 should be watched in the coming sessions 
2-  view will be cautious not Bearish

As good intraday consolidation today therefore today started rally continuation is expected but follow up consolidation is must because following resistances above today highest and Vert Short Term indicators have turned overbought after strong recovery from lower levels today.

1- 10428-10454
2- 10465-10483(Last resistance)

Firstly Watch Levels after negative developments today morning

Pre-open Outlook(27-11-2017)

As all the Asian markets are trading in Red today morning and S&P keeps India rating unchanged as well as this decision came after the closure of Indian markets trading hours last Friday therefore Indian markets will react these 2 negative developments through negative opening. 

Nifty traded first 4 sessions of previous week between 10232-10377 and this range was broken out last Friday but weaker opening will be seen today due to above mentioned negative developments therefore firstly sustaining beyond 10377 should be watched in the coming sessions because good intraday consolidation last Friday and view will be cautious not Bearish.

Follow up consolidation will mean fresh rally above life time highest 

Intra Day Chart Analysis & Market Outlook

(27-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Consolidation between 10377-10393
2- Last hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 10363-10404

Conclusions from intra day chart analysis 

Following conclusive lines were told on 19-11-2017 in "Next trend confirmations from levels":-

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations. 

Nifty traded first 4 sessions between 10232-10377 and finally closed above it after whole day good intraday consolidation on 24-11-2017 therefore strong signals of rally continuation towards following next resistances:-

1- 10428-10454
2- 10465-10483(Last resistance)

As above resistances therefore follow up consolidation in the beginning of next week will mean rally continuation towards and above life time highest(10490.45) and it is expected also. 

Watch Levels for next big moves

Intra Day Chart Analysis & Market Outlook

(24-11-2017)

Nifty-Intra Day Chart (23-Nov-2017):-

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Technical Patterns formation in today intraday charts

1- Up moves with intraday correction
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 10308-10374

Conclusions from intra day chart analysis 

As whole day volatile market with both consolidation and selling patterns formations therefore no final view can be formed only from today intraday patterns formations. Most time selling patterns formations yesterday and most time consolidation patterns formation today means that no one sided technical positions formations in last 2 sessions.

Following conclusive lines were told on 19-11-2017 in "Next trend confirmations from levels":-

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations. 

Above lines and levels were repeated in all the previous Outlooks of this week and Nifty traded within 10232-10377 which means that Nifty is preparing for next big moves and finally sustaining beyond this range should be watched in the coming sessions.

Mid-session Outlook(23-11-2017)

As whole day selling patterns formations therefore firstly down moves expectations was told and it was seen also through negative zone trading in first 15 minutes but follow up selling is not being seen and some consolidation patterns formations also developed today therefore finally sustaining beyond 10262-10377 should be watched for next trend confirmations because strong supports and equally strong resistances are lying within this range.

Down Moves expectations

Intra Day Chart Analysis & Market Outlook

(23-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Sharp down after positive opening
1- Up moves in Bearish Rising Channel
3- Whole day actual trading between 10310-10368

Conclusions from intra day chart analysis 

Although Green closing after most time positive zone trading but whole day selling patterns formations therefore firstly down moves are expected and finally sustaining below 10262 will mean deeper correcttion. 

Levels will confirm next trend and life of on going correction

Intra Day Chart Analysis & Market Outlook

(22-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10344-10358
2- Whole day actual trading between 10316-10358

Conclusions from intra day chart analysis 

As all the Asian markets were trading with good gains therefore firstly strong opening and green closing after whole day positive zone trading but higher levels good selling therefore fast down in last hour and closing near the lower levels of the dayT 10326.90.

Following lines were told yesterday in "Levels will confirm life of on going correction":-

As strong supports and equally strong resistances are lying between 10262-10377 therefore firstly Nifty has to trade and prepare for next trend within this range in the coming sessions and finally sustaining beyond this range will confirm next trend as well as life of on going correction. 

Same above mentioned view for tomorrow because today whole day trading and closing was within mentioned trading range(10262-10377) and lower levels supports  are still lying after higher levels today selling.

Levels will confirm life of on going correction

Intra Day Chart Analysis & Market Outlook

(21-11-2017)

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

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Technical Patterns formation in today intraday charts

1- 5 Hours consolidation between 10264-10290
2- Whole day actual trading between 10262-10309

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Next trend confirmations from levels":-

1- Selling between 10310-10343
2- Previous resistances were between 10346-10377 
3- Nifty will firstly prepare for next trend between 10232-10377 in the coming week 

Selling was told above 10310 and Nifty could not move above it as well as whole day traded below it with today highest formations just below it at 10309.85. 

Although next strong resistances are between 10310-10343 but 5 hours consolidation between 10264-10290 therefore this range will be immediate strong support and until complete fresh selling will not develop till then Nifty will not easily sustain below 10264 

As strong supports and equally strong resistances are lying between 10262-10377 therefore firstly Nifty has to trade and prepare for next trend within this range in the coming sessions and finally sustaining beyond this range will confirm next trend as well as life of on going correction. 

Next trend confirmations from levels

Intra Day Chart Analysis & Market Outlook

(20-11-2017)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10310-10343
2- Down moves in last hours
3- Whole day actual trading between 10269-10343

Conclusions from intra day chart analysis 

India's highest credit rating in decades and most Asian markets were trading with good gains therefore strong gap up opening last Friday but firstly more than 4 hours selling resultant slipping in last hours and closing near the lower levels of the day. 

Previous resistances were between 10346-10377 and good selling was seen just below it between 10310-10343 last Friday therefore until Nifty will not sustain above 10377 after complete fresh consolidation till then decisive up moves will not be seen and on going correction will not be considered. 

Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations. 

As I shall be out of station in next week therefore Stock Market Outlook updating will be restarted from 
20-11-2017.