Rally expectations after final settlement of US-China trade talks 

Intra Day Chart Analysis & Market Outlook

(10-05-2019)

Nifty-Intra Day Chart (09-May-2019):-

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Technical Patterns formation in today intraday charts

1- 3 Hours Down moves in Bullish Falling Channel 
2- Intraday volatility
3- Whole day actual trading between 11256-11357

Conclusions from intra day chart analysis 

As following  most negative news today morning therefore Dow's Futures was trading more than 150 points down today morning and all the Asian markets were in deep Red resultant weaker opening of Indian markets and slipping below crucial supports range

Trump: China 'broke the deal' in trade talks

As above mentioned most negative news therefore all the Global markets are being crashed in this weeek and indian markets are also participating despite consolidation patterns formations.

Although consolidation was also seen through 3 hours Down moves in Bullish Falling Channel today but closing is just below crucial supports(11315) therefore emergence of correction continuation signals.

Lets wait for final settlement of US-China trade talks and then life of correction will be considered but still expected that finally on going rally will remain continued and sharp up moves  

may be seen any day which will be correction completion strong indication.

Firstly Watch 11375 amid emergence of Pull Back rally possibility

Intra Day Chart Analysis & Market Outlook

(09-05-2019)

Nifty-Intra Day Chart (08-May-2019):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel 
2- Whole day actual trading between 11347-11447

Conclusions from intra day chart analysis 

As all the Asian markets were trading in Red after Dow Jones slipping 473 points therefore gap down opening of Indian markets. Although today closing was at lower levels of the day but all the down moves were in Bullish Falling Channels therefore emergence of Pull Back rally possibility in the coming sessions.

Following lines were told yesterday in "Levels will confirm deeper correction amid crashing like Global markets":-

Next supports below today lowest are as follows:- 

1- 11425-11460
2- 11315-11375(55-Day SMA is lying within this range)

As 55-Day SMA is lying within 2nd supports range therefore it has become crucial supports range and finally sustaining it beyond will confirm deeper correction beginning or correction completion.

As today closing is also within above mentioned 2nd supports range therefore firstly sustaining beyond 11315-11375 should be watched in the coming sessions. As emergence of Pull Back rally possibility also therefore once sustaining above 11375 will mean fresh rally after on going correction completion.  

Levels will confirm deeper correction amid crashing like Global markets

Intra Day Chart Analysis & Market Outlook

(08-05-2019)

Nifty-Intra Day Chart (07-May-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11592-11647(immediate resistances)
2- Down moves in last hours
3- Whole day actual trading between 11485-11657

Conclusions from intra day chart analysis 

As Dow's Futures was trading in Red and most Asian markets were also in negative zone therefore fresh selling was seen between 11592-11647 and Nifty slipped below 23 previous sessions lowest(11550) in last hours down moves because all the European markets also opened weak.  

As last 2 sessions down moves were due to negative news(US-China trade tariff) led and resultant all the Global markets were also weak therefore sustaining below 23 previous sessions lowest(11550) should also be watched for strong signals of deeper correction beginning. Next supports below today lowest are as follows:- 

1- 11425-11460
2- 11315-11375(55-Day SMA is lying within this range)

As 55-Day SMA is lying within 2nd supports range therefore it has become crucial supports range and finally sustaining it beyond will confirm deeper correction beginning or correction completion.

अक्षय तृतीया की हार्दिक शुभकामनाएं !!!

Firstly watch levels amid rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(07-05-2019)

Nifty-Intra Day Chart (06-May-2019):-

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Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 11609-11632
2- Sideways trading in last hours
3- Whole day actual trading between 11572-11632

Conclusions from intra day chart analysis 

As following most negative news and all the Asian markets were in deep Red today morning resultant gap down opening of Indian markets today:-  

Dow futures drop more than 450 points as China considers skipping trade talks after Trump threat

(Just click at above topic link and go through whole news)

Although closing near the lower levels of the day but whole day today trading was news based and Mixed Patterns formation as well therefore firstly sustaining beyond today trading range(11572-11632) should be firstly watched in the coming sessions for next decisive moves first signal/confirmations.

As strong supports are lying above 11550 therefore until Nifty will not sustain below it till then any type of depper correction will not be seen but still expected that finally on going rally will remain continued without sustaining below 11550.

Finally rally above Life Time Highs after follow up consolidation

Technical Analysis,Research & Weekly Outlook

(May 06 to May 10,2019)

Nifty-EOD Chart Analysis

Nifty-EOD Chart (03-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Impulsive Wave-5 continuation with new life time top formation at 11856.15 on 18-04-2018
7- 22 Sessions sideways trading between 11550-11811 near life time highs

Nifty-Previous 22 Sessions intraday charts analysis
Nifty-Intra Day Chart (Mar 29 to May 03,2019):-

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Technical Patterns formation in last 22 Sessions intraday charts

1- 22 Sessions sideways trading with lower levels supports and higher levels resistances
2- Supports between 11550-11611 
3- Supports between 11662-11693
4- Resistances between 11749-11811
5- 22 Sessions actual trading between 11550-11811 

Nifty-Intra Day Chart Analysis(03-05-2019)
Nifty-Intra Day Chart (03-May-2019):-

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Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 11732-11770
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 11700-11770

Conclusions from EOD chart analysis 

Long and Intermediate Term Trends are up but Short Term Trend is sideways near life time highs between 11550-11811 for the last 22 Sessions means that indian markets are preparing for next big moves beyond this range.

Conclusions from 22 Sessions intra day chart analysis 

Last 22 Sessions like big sideways trading between 11550-11811 is suggesting that Indian markets are preparing for next big moves. As lower levels good supports and higher levels resisatnces also within this range therefore nifty will firstly trade and prepare for next decisive moves within this range in next week.

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after last hours down moves but view will not be bearish because down moves were in Bullish Falling Channel and before it more then 4 hours trading was with Mixed Patterns formation and genuine selling was not seen.

Conclusions (After Putting All Studies Together)

It is confirm that Indian markets are preparing for very very big moves for the last 22 sessions between 11550-11811. As these sideways moves are near life time highs therefore it is confirm that finally sustaining beyond or forceful break out of 11550-11811 will mean more that 10% sharp moves which will be seen just before or after Parliamentary results(23-05-2019)

As per our own analysis BJP will win more than 300 and NDA will win more than 350 seats as well as lower levels good supports lave also developed above 11550 in last 22 sessions therefore expected that finally strong rally will be seen above life time highs(11856.15) but follow up consolidation is also required in next week because resistances are also lying betweeen 11749-11811.

Firstly sideways trading and finally rally

Intra Day Chart Analysis & Market Outlook

(03-05-2019)

Nifty-Intra Day Chart (02-May-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11749-11789(immediate resistances)
2- Whole day actual trading between 11700-11789

Conclusions from intra day chart analysis 

As higher levels intraday selling today therefore finally slipping and closing at the lower levels of the day today but sharp down moves are not expected tomorrow because following strong supports also lying below today lowest:-

1- 11662-11693
2- 11550-11611

As previous supports are between 11662-11693 and immediate resistances are between 11749-11789 therefore expected that firstly Nifty will trade sideways and prepare for next decisive moves between(11662-11789) and sustaining it beyond will confirm next trend but expected that finally strong rally will be seen after follow up consolidation in the coming sessions.

Pre-open Outlook(02-05-2019)

As US markets slipped fast in last hours after FOMC decision yesterday therefore sentiment is weak today morning and resultant firstly flat to weaker opening and trading within following sopports and resistances(11611-11811) is expected today:-

1- Supports between 11550-11611
2- Resistances between 11754-11811

Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(02-05-2019)

Nifty-Intra Day Chart (30-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 11656-11720
2- Whole day actual trading between 11656-11756

Conclusions from intra day chart analysis 

As most Asian markets were trading in Red therefore firstly slipping after opening but 5 hours consolidation between 11656-11720 therefore it will be immediate supports of Nifty and on going rally continuation is expected in the coming sessions.  

Finally rally continuation with new life time high formations 

Technical Analysis,Research & Weekly Outlook

(Apr 30 to May 03,2019)

Nifty-EOD Chart (26-Apr-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Impulsive Wave-5 continuation with new life time top formation at 11811.15 on 18-04-2018

Previous 19 Sessions intraday charts analysis

Nifty-Intra Day Chart (Mar 29 to Apr 26,2019):-

Just click on chart for its enlarged view

Technical Patterns formation in last 19 Sessions intraday charts
1- 19 Sessions sideways trading with lower levels supports and higher levels resistances
2- Supports between 11550-11611(Immediate Supports)
3- Resistances between 11754-11811
4- 19 Sessions actual trading between 11550-11811 

Intra Day Chart Analysis(26-04-2019)

Nifty-Intra Day Chart (26-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- More than 4 hours consolidation between 11662-11693
2- Sharp up moves
3- Whole day actual trading between 11662-11762

Conclusions from EOD chart analysis 

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11550-11811 for the last 19 Sessions

Rally is very much on and no signal of its completion yet but Short Term Trend is sideways between 11550-11811 for the last 19 sessions therefore finally sustaining it beyond will confirm next big moves which should be firstly watched in next month.

Conclusions from 19 Sessions intra day chart analysis 

Last 19 Sessions like big sideways trading between 11550-11811 is suggesting that Indian markets are preparing for next big moves. As lower levels supports and higher levels resisatnces have also developed within this range therefore nifty will firstly trade and prepare for next decisive moves within this range in the beginning of next week.

Conclusions from intra day chart(26-04-2019) analysis 

As firstly More than 4 hours consolidation between 11662-11693 and after that sharp moves and intraday selling was not seen therefore expected that last Friday started rally will remain continued in the beginninng of next week.

Conclusions (After Putting All Studies Together)

Finaly sustaining beyond last 19 Sessions trading range(11550-11851) will confirm next big trend which will be seen in next month just before or after Parliamentary Elections 2019 results date(23-05-2019) 

In fact Indian markets are preparing for post Election results next decisive moves within 11550-11811 and it will take its own time but expected that finally rally with new life time high formations will remain continued after follow up consolidation in the coming sessions.

Finally rally above 11811 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(26-04-2019)

Nifty-Intra Day Chart (25-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- More than 5 hours selling between 11712-11796
2- Sharp fall
3- Whole day actual trading between 11625-11796

Conclusions from intra day chart analysis 

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

1- market has to cool down through sideways trading near about today highest and that will be firstly done tomorrow.
2- Nifty will firstly trade and prepare for next decisive moves between 11611-11811

As was told yesterday,100% same happened today and firstly Nifty traded sideways more that 5 hours near about yesterday highest levels as well traded today whole within yesterday mentioned trading range(11611-11811).

Last 18 sessions trading between 11550-11811 with sharp rally after lower levels consolidation yesterday and Sharp fall after higher levels selling today therefore following next strong resistances and supports of Nifty has developed:- 

1- Supports between 11550-11611
2- Resistances between 11712-11811

In fact Indian markets are preparing for post Election results next decisive moves within 11550-11811 and it will take its own time but expected that finally rally above 11811 will remain continued after follow up consolidation in the coming sessions.

Finally rally continuation after few sessions follow up consolidation

Intra Day Chart Analysis & Market Outlook

(25-04-2019)

Nifty-Intra Day Chart (24-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 11579-11611
2- More than 1% strong Pull back rally
3- Whole day actual trading between 11579-11740

Conclusions from intra day chart analysis 

Following line was told yesterday in "Pull back rally expectations":-

Pull back rally is expected tomorrow 

As was told yesterday,100% same happened and Nifty closed after gaining 150 points.

As very Short Term indicators have turned overbought after strong rally today and sentiment has been heated up also therefore market has to cool down through sideways trading near about today highest and that will be firstly done tomorrow.

Next last resistances of Nifty are lying just above today highest between 11739-11811 and market has to consolidate also for fresh rally therefore follow up moves should be firstly watched in the coming sessions.

As resistances just below 11811 and supports just below 11611 therefore Nifty will firstly trade and prepare for next decisive moves between 11611-11811 but expected that finally rally will remain continued after follow up consolidation in the next few sessions.

Pull back rally expectations

Intra Day Chart Analysis & Market Outlook

(24-04-2019)

Nifty-Intra Day Chart (23-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- 5 Hours trading with Mixed Patterns formation between 11607-11645 
2- Slipping in last hour
3- Whole day actual trading between 11565-11645

Conclusions from intra day chart analysis 

Following 2 levels were updated yesterday in "Just watch next supports for the life of on going correction":- 

1- Selling between 11626-11692
2- Supports between 11550-11603

As Nifty traded whole day within above mentioned levels with 5 Hours trading with Mixed Patterns formation between 11607-11645 and clear selling or buying patterns were not seen therefore expected that nifty will trade and prepare for next decisive moves within yesterday mentioned above crucial levels(11550-11692).

Although nifty closed near the lower levels of the day after slipping in last hour but view will not be Bearish because today closing was within supports range(11550-11603) and Very Short Term indicators have turned oversold therefore a Pull back rally is expected tomorrow and sustaining above following levels will suggest fresh rally after on going correction completion:-

1- 11645
2- 11692 

Just watch next supports for the life of on going correction 

Intra Day Chart Analysis & Market Outlook

(23-04-2019)

Nifty-Intra Day Chart (22-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11626-11692
2- Whole day actual trading between 11584-11692

Conclusions from intra day chart analysis 

Following conlcusive line was told on 20-04-2019 in "Rally continuation amid only a Very Short Term correction possibility":-

As some selling was seen on 18-04-2018 therefore eruption of Very Short Term correction possibility 

As was told 100% same happened and correction was seen immediately after opening through gap down opening and slippping 70 points in first minute.

As more than 5 hours selling between 11626-11692 therefore some more down moves can not be ruled out and until complete consolidation will not develop till then Nifty will not sustain above 11692. 

Supports between 11550-11603 were updated on 13-04-2019 in "Minimum 10% rally after more than 350 seats victory of NDA on 23-05-2019" and Nifty closed within this range as well as firstly sustaining beyond this range should be watched in the coming sessions for the life of on going correction.

Rally continuation amid only a Very Short Term correction possibility

Technical Analysis,Research & Weekly Outlook

(Apr 22 to Apr 26,2019)

Nifty-EOD Chart (18-Apr-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Wave 1 gained 2142.90 points
4- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
5- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
6- Wave 3 gained 3866.40 points
7- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
8- Impulsive Wave-5 continuation with new life time top formation at 11856.15 on 18-04-2018

Nifty-Intra Day Chart (18-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- Profit booking and slipping after strong gap up opening and new life time high formations 
2- Last 5 hours trading with Mixed Patterns formation between 11739-11792  
3- Whole day actual trading between 11739-11856

Conclusions from EOD chart analysis

Indian markets are very much Bullish and new life time high formation was seen at 11856.15 in previous trading session on 18-04-2018. 

As per Elliott Wave theory calculation maximum target of on going Nifty rally is at 13870.95 and it is being explained as follows:-  

As per Elliott Wave theory "Wave-3 should not be shorter than both Wave-1 and Wave-5. Now impulsive Wave-5 is on and it should not gain more points than Wave-3 gained(3866.40 points).

Impulsive Wave-1 gained=2142.90 points(8968.70-6825.80)
Impulsive Wave-3 gained=3866.40 points(11760.20-7893.80)
Impulsive Wave-5 has gained 1851.60 points till 18-04-2018(11856.15-10004.55) 

As per Elliott Wave theory Wave-5 can gain 3866.40 points from its beginning level(10004.55 )which means that on going Wave-5 has potential to move up to 13870.95(10004.55+3866.40) 

Conclusions from intra day chart analysis(18-04-2018) 

Although strong gap up opening and new life time high formations at 11856.15 on 18-04-2019 but profit booking developed immediately after opening and nifty slipped more than 100 points in first hour which is first signal of Very Short term correction beginning. 

As last 5 hours trading with Mixed Patterns formation between 11739-11792 therefore firstly sustaining beyond this range should be watched in the beginning of next week for Very Short term correction beginning below 11739 and on going rally continuation after fresh consolidation above 11856.

Conclusions (After Putting All Studies Together)

Rally is very much on and its continuation is expected but all the indicators from very Short to Long term are overbought therefore correction is very much due but indicators remains overbought long time during Bull markets and until complete selling pattterns will not develop on EOD and intraday charts till then any deeper correction will not be seen.

As some selling was seen on 18-04-2018 therefore eruption of Very Short Term correction possibility but follow up selling is must and sustaining beyond 11739-11792 should be firstly watched in the beginning of next week for correction beginning or rally continuation after follow up consolidation. 

Rally continuation with new life time high formations

Intra Day Chart Analysis & Market Outlook

(18-04-2019)

Nifty-Intra Day Chart (16-Apr-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Fresh up moves after gap up opening
2- More than 5 hours consolidation between 11768-11810
3- Whole day actual trading between 11732-11810

Conclusions from intra day chart analysis 

Firstly fresh up moves after gap up opening and after that more than 5 hours consolidation between 11768-11810 therefore rally continuation with new life time high formations is expected in the comimg sessions as well as 11768-11810 will be immediate support of Nifty.

Sideways market to prepare for next decisive up moves 

Intra Day Chart Analysis & Market Outlook

(16-04-2019)

Nifty-Intra Day Chart (15-Apr-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Whole day up moves with intraday corrections 
2- Whole day actual trading between 11649-11704

Conclusions from intra day chart analysis 

Following lines were told at on 13-04-2019 in "Minimum 10% rally after more than 350 seats victory of NDA on 23-05-2019":-

finally rally continuation is expected above last Friday highest(11657) but follow up consolidation is also required because resistances between 11645-11682

As Nifty traded most time within above mentioned resistances today with intraday corrections therefore finally rally continuation is expected after follow up consolidation because more resistances are also lying between 11728-11761.

12 Sessions trading between 11550-11761 with lower levels buying and higher levels selling therefore still expected that nifty will remain sideways within this range tomorrow and prepare for next decisive up moves in the coming seeks.

Minimum 10% rally after more than 

350 seats victory of NDA
on 23-05-2019

Technical Analysis,Research & Weekly Outlook

(Apr 15 to Apr 19,2019)

Nifty-EOD Chart Analyis from 29-02-2016

Nifty-EOD Chart (12-Apr-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Impulsive Wave-5 continuation with recent news top formation at 11761.00 on 03-04-2018

Conclusions from EOD chart analysis 

Indian markets are most Bullish and 5th wave of that rally continuation which started from 6825.80 on 29-02-2016. 

Although new life time high formations at 11761.00 on 03-04-2018 but since then Nifty has turned sideways between 11550-11761 for the last 11 sessions and valid break out of this range should be firstly watched in coming week/weeks for the next decisive big moves just before or after Election results on 23rd May 2019.  

Nifty-Micro Analysis of 11 Sessions Intra Day
 Chart(Mar 29 to Apr 12,2019)

Nifty-Intra Day Chart (Mar 29 to Apr 12,2019):-

Just click on chart for its enlarged view

Technical Patterns formation in last 11 Sessions intraday charts

1- 11 Sessions sideways trading with lower levels supports and higher levels resistances
2- Supports between 11550-11603(Immediate Supports)
3- 1st Resistance between 11645-11682
4- 2nd Resistance between 11728-11761
5- 11 Sessions actual trading between 11550-11761 

Conclusions from 11 Sessions intra day chart analysis 

As last 11 Sessions sideways trading between 11550-11761 with lower levels supports and higher levels selling therefore firstly nifty will remain sideways and prepare for next decisive moves within this range in the beginning of next week.

Intra Day Chart Analysis(12-04-2019)

Nifty-Intra Day Chart (12-Apr-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 11579-11603(Immediate Supports)
3- Up moves with intraday corrections
4- Whole day actual trading between 11579-11657

Conclusions from intra day chart analysis 

As whole day good intraday consolidation last Friday through Down moves in Bullish Falling Channel,lower levels consolidation and last hours upmoves with intraday corrections therefore finally rally continuation is expected above last Friday highest(11657) but follow up consolidation is also required because resistances between 11645-11682 are also lying near about last Friday highest.

Conclusions (After Putting All Studies Together)

Impulsive Wave-5 continuation and as such big selling patterns formations have not been developed till now on EOD and intraday charts which may result big correction. Only 2 sessions intraday selling resistances are lying above last Friday highest which will weaken after 1/2 sessions intraday follow up consolidation. Although some selling developed between 11728-11761 on new life time formations day but lower levels strong supports have also developed in last 11 sessions. 

In fact Indian markets are waiting for clear signals from 2019 Parliamentary Elections but as per our views Nifty will witness strong rally above life time highest(11761) because we are expecting more than 350 seats victory for NDA and resultant minimum 10% rally will be seen after Election results declaration day(23-05-2019) but fresh rally will begin before this date also.

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