Levels will confirm next trend

Intra Day Chart Analysis & Market Outlook

(12-06-2019)

Nifty-Intra Day Chart (11-Jun-2019):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling ChannelS
2- Slow up moves in Mid-Session
3- Selling between 11968-12000
4- Whole day actual trading between 11905-12000

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly watch levels for next decisive moves confirmations":-

1- 11808-11910 will be immediate supports of Nifty and until Nifty will not sustain below 11808 till then decisive down moves will not be seen.
2- higher levels selling was also seen below 11975 
3- Nifty has to trade and prepare for next decisive moves within  11808-11975 and firstly sustaining beyond this range should be watched in the coming sessions for next decisive moves confirmations. 

Although firstly lower levels consolidation but higher levels good selling was also seen therefore today trading will be understood with Mixed Patterns formation and same view with little change of levels that finally sustaining beyond 11808-11200 will confirm next trend which should be firstly watched in the coming sessions. 

Firstly watch levels for next decisive moves confirmations 

Intra Day Chart Analysis & Market Outlook

(11-06-2019)

Nifty-Intra Day Chart (10-Jun-2019):-

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Technical Patterns formation in today intraday charts
1- Selling between 11934-11975(immediate resistance)
2- Consolidation between 11872-11910
3- Whole day actual trading between 11872-11975

Conclusions from intra day chart analysis 

As good intraday consolidation last Friday and all the Asian markets were blasting as well as Dow Jones'S Futures was also more than 70 points up today morning therefore good up moves after positive opening but selling developed at higher levels and Nifty slipped from higher levels.

6 Hours consolidation Patterns formation between 11808-11897 last Friday and more than 3 hours consolidation within and above this range today also therefore 11808-11910 will be immediate supports of Nifty and until Nifty will not sustain below 11808 till then decisive down moves will not be seen.

Although positive closing today but Indian markets completely under performed Global markets and higher levels selling was also seen below 11975 therefore Nifty has to trade and prepare for next decisive moves within  11808-11975 and firstly sustaining beyond this range should be watched in the coming sessions for next decisive moves confirmations.   

Rally continuation above life time highest without sustaining below

 "Modi ji's victory Gap(11426-11591)"  

Technical Analysis,Research & Weekly Outlook

(Jun 10 to Jun 14,2019)

Nifty-EOD Chart Analysis

"Modi ji's gap"

Nifty-EOD Chart (07-Jun-2019):-

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Technical Patterns and Formations in EOD charts

1- 165 Points strong gap supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
2- 165 Points was formed on the "high expectations like Bullet Trains recovery of Indian economy" after Modi ji's victory in 2019 Parliamentary elections therefore this gap will be told "Modi ji's gap"

Nifty-EOD Chart Analysis

Nifty-EOD Chart (07-Jun-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave 5 beginning from 10004.55 on 26-10-2018
2- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
3- Last 14 sesions trading with both buying and selling after 165 points gap formations on 20-05-2019

Nifty-Previous 14 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 20 to Jun 07,2019):-

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Technical Patterns formation in last 14 Sessions intraday charts

1- 165 Points strong gap supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
2- Last supports of 14 sessions range are between 11645-11730
3- Crucial supports are at 11829.50
4- Both buying and selling above 11829.50 in last 11 sessions 
5- Consolidation between 11808-11897 on 07-06-2019 
6- 14 Sessions actual trading between 11592-12103 

Nifty-Intra Day Chart Analysis(07-06-2019)

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

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Technical Patterns formation in today intraday charts

1- 6 Hours consolidation Patterns formation between 11808-11897
2- Whole day actual trading between 11770-11897 

Conclusions (After Putting All Studies Together)

It must be kept in mind that 165 Points like big gap between 11426-11591 was formed on 20-05-2019 after Exit Polls results on 19-05-2019. As this gap was formed on the "high expectations like Bullet Trains recovery of Indian economy" after Modi ji's victory in 2019 Parliamentary elections therefore this gap will be told:- 

"Modi ji's victory Gap" 

formation on 20-05-2019 and until these expections are alive till then Nifty will not sustain below 11591 and rally will remain contunued with new life time highs formations after fresh and follow up higher levels consolidations and corrections in the coming years.

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11592-12103 for the last 14 Sessions

165 Points strong gap supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019 and after that Nifty is trading sideways between 11592-12103 for the last 14 Sessions. Although continuously supports getting above 11591 but Nifty is failing to sustain above 12000 also after fresh selling developments near about it in the last 11 sessions.

As Nifty is getting supports with rising bottoms after good consolidation between 11645-11730 and follow up consolidation also near crucial supports (11829.50) between 11808-11897 last Friday therefore fresh rally hopes above life time highest is alive but follow up consolidation is also required because multiple selling was also seen near about 12000.

As 6 Hours good consolidation between 11808-11897 last Friday therefore fresh up moves will be seen in the beginning of next week but sustaining above 12000 should also be firstly watched because selling was seen there and fresh consolidation is also required for sustaining above 12000.

Final budget for the current financial year(2019-20) will be presented in the Lok Sabha on July 5 and Finance Minister Nirmala Sitharaman capacities are not known yet therefore Indian markets may wait and prepare for post Budget decisive moves in the coming weeks but as per our views Budget will be good and rally will remain continued above life time highest without sustaining below 
"Modi ji's victory Gap(11426-11591)" 

Today lowest will confirm correction towards next supports

Intra Day Chart Analysis & Market Outlook

(07-06-2019)

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

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Technical Patterns formation in today intraday charts

1- Selling on RBI rates expectations
2- Follow up selling in Mid-session
3- Whole day down moves with continuous selling
4- Whole day actual trading between 11830-12039

Conclusions from intra day chart analysis 

As Indian markets have not shown required strength despite 25 BPS rate cut possibility by RBI today therefore we cautioned and told following lines at 09:33 AM today in "Post-open Outlook(06-06-2019)":-

1- Indian markets have not shown any strength immediately after opening
2- firstly Nifty sustaining beyond 12000 should be watched today for the life of last Tuesday started correction.

Although following bullish atmosphere but Indian markets slipped whole day with continuous selling:-

1- 25 BPS rate cut by RBI,
2- Dow's Futures was more than 70 points up after its double century gains one day before.
3- All the European markets were more than .50% up.

Indian markets have shown weakness and today lowest was near crucial supports at 11829.50 as well as next supports below it are between 11645-11730. 

Correction is on and no signal of its completion yet. Firstly sustaining below today lowest should be watched tomorrow because that will confirm correction continuation towards next supports(11645-11730) 

Post-open Outlook(06-06-2019)

RBI Credit policy is at 11:45 AM today and posisive news is that 25 BPS rate cut possibility is on the cards but Indian markets have not shown any strength immediately after opening therefore firstly Nifty sustaining beyond 12000 should be watched today for the life of last Tuesday started correction.

Remain cautious also because RBI Credit policy led valatility may remain high.

Rally continuation expectations after follow up consolidation 

Intra Day Chart Analysis & Market Outlook

(06-06-2019)

Nifty-Intra Day Chart (04-Jun-2019):-

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Technical Patterns formation in today intraday charts

1- Minor selling
2- Down moves in Bullish Falling Channel 
3- Whole day actual trading between 12006-12095

Conclusions from intra day chart analysis 

Although firstly higher levels selling and some selling in Mid-session also but consolidation was also seen through Down moves in Bullish Falling Channels therefore whole day trading will be understood with Mixed Patterns formation between 12006-12095.

As last Tuesday trading will be understood only a very Short Term correction of last Monday strong rally and rally continuation above life time highest is expected after follow up consolidation within and near about 12006-12095. 

Rally continuation with intraday and Very Short Term corrections

Intra Day Chart Analysis & Market Outlook

(04-06-2019)

Nifty-Intra Day Chart (03-Jun-2019):-

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Technical Patterns formation in today intraday charts

1- Whole day rally with minor intraday corrections
2- Whole day actual trading between 11921-12103

Conclusions from intra day chart analysis 

As following negative developments therefore sentiment was much depressed today morning:-

1- Dow Jones"s Futures was trading more than 150 points down at the time of Indian markets opening.
2- Most Asian markets were trading in Red
3- Negative news was that US to end preferential trade treatment for India from June 5
4- GDP growth slumps to 5 years low at 5.8%

Although above dampening news but Inidian markets started to move up after flat opening and whole day rally remain continued with minor intraday corrections as well as Nifty closed at life time highest above 12000 today.

Rally is very much on and its continuation is expected with intraday and Very Short Term corrections. It should be kept in mind that until complete selling patterns will not develop on EOD charts till then any deeper correction will not be seen.

Firsly Watch Levels amid rally continuation expectations after fresh consolidation

Technical Analysis,Research & Weekly Outlook

(Jun 03 to Jun 07,2019)

Nifty-EOD Chart Analysis(Gap on 20-05-2019)

Nifty-EOD Chart (31-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave 5 beginning from 10004.55 on 26-10-2018
2- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
3- Slow up moves in last 10 sesions after 165 points gap formations on 20-05-2019

Nifty-Previous 5 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 27 to May 31,2019):-

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Technical Patterns formation in last 5 Sessions intraday charts
1- Lower levels consolidation and higher levels Mixed Patterns formation on 27-05-2019
2- Whole day consolidation through Down moves in Bullish Falling Channel on 28-05-2019
3- Higher levels Mixed Patterns formation and last hours consolidation through Down moves in Bullish Falling Channel on 29-05-2019
4- Whole day up moves with sideways consolidation and intraday corrections on 30-05-2019
5- Higher levels selling and lower levels Mixed Patterns formation on 31-05-2019
6- 5 Sessions actual trading between 11812-12039 

Nifty-Intra Day Chart Analysis(31-05-2019)

Nifty-Intra Day Chart (31-May-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 12003-12039
2- More than 3 hours trading with Mixed Patterns formation between 11876-11956
3- Whole day actual trading between 11830-12039

Conclusions from EOD chart analysis 

Rally is very much on but last 10 sessions up move are slow after Exit Poll results led 165 points gap up opening on 20-05-2019.

Conclusions from 5 Sessions intra day chart analysis 

Almost whole week consolidation and only some selling above 12000 last Friday therefore Nifty will firstly trade and prepare for next decisive moves within last 5 sessions trading range(11812-12039) and finally sustaining beyond this range with confirm next trend.

Conclusions from intra day chart analysis 

Although most Asian markets were weak after more than 150 points fall in Dow Jones's Futures but Inidan markets moved up fast because sentiment was Bullish after Modi ji's cabinet formations. As market mood was heated therefore some selling developed above 12000 and resultant sharp fall in Mid-Session.

As more than last 3 hours negative zone trading with Mixed Patterns formation between 11876-11956 therefore sustaining beyond this range will give first indication of next decisive move.

Conclusions (After Putting All Studies Together)

All trends are up and rally continuation but reuqired forceful up moves were not seen and slow up moves in last 10 sessions after most encouraging Exit Poll results led strong gap up opening on 20-05-2019. As Short Term indicators have turned overbought and indicators are showing negative divergence also therefore view has turned cautious.

1- Immediate and last resistances of Nifty are between 12003-12039
2- Immediate supports of Nifty are between 11854-11599

Multiple supports develpoed between 11854-11968 in first 4 sessions of previous week but Nifty traded more than 3 hours within it with Mixed Patterns formation between 11876-11956 last Friday therefore possibility of supports weakening between 11854-11968 can not be ruled out.

As crashing like situation in most Global markets and Indian markets slipped fast after higher levels selling last Friday therefore expected that Nifty will firstlly trade and prepare for next trend between previous week trading range(11812-12039) and finally sustaining beyond this range will confirm next trend which should be firstly watched in next week amid rally continuation expectations after fresh consolidation between 11812-12039.

Events in next week

1- Holiday- Ramzan Id on June 05,2019
2- RBI Credit Policy on Jun 06, 2019

Rally continuation above 12000

Intra Day Chart Analysis & Market Outlook

(31-05-2019)

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

Technical Patterns formation in today intraday charts

1- Consolidation between 11905-11925
2- Down moves in Bullish Falling Channel
3- Intraday correction in last hour
4- Whole day actual trading between 11864-11968

Conclusions from intra day chart analysis 

Although Nifty closed near the lower levels of the day yesterday and all the European and US markets were also trading more than 1% down yesterday then following line was told yesterday in "Firstly Watch levels amid crashing Global markets":-

rally continuation above 12000 is still expected

As was told 100% same happened and rally towards 12000 was seen as well as Nifty closed after gaining 84 points today. 

As whole day today trading was with lower levels sideways consolidation and last hours consolidation through intraday corrections therefore rally continuation is expected above 12000 in the coming sessions.

Firstly Watch levels amid crashing Global markets 

Intra Day Chart Analysis & Market Outlook

(30-05-2019)

Nifty-Intra Day Chart (29-May-2019):-

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Technical Patterns formation in today intraday charts

1- Firstly 3 hours traing with Mixed Patterns formation between 11892-11931
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 11837-11931

Conclusions from intra day chart analysis 

As all the Asian markets were trading in Red today morning because huge down moves in US markets yesterday therefore weaker opening on Indian markets.

Although today closing was near the lower levels of the day but genuine selling patterns were not seen and on the contrary firstly 3 hours trading with Mixed Patterns formation and all the down moves were in Bullish Falling Channels therefore today trading will be understood with consolidation patterns formations.

As Nifty is trading near the top levels for the last 3 sessions with Mixed Patterns formation and consolidation patterns therefore rally continuation above 12000 is still expected but Nifty will trade and prepare for this move between following ranges:-

1- 11753-11957 
2- 11611-11957 

As all the European and US markets are trading now more than 1% down therefore above lower levels supports have also been updated but once sustaining above 11957 will mean strong signal of fresh rally beginning above 12000. 

Levels will confirm fresh rally above 12000

Intra Day Chart Analysis & Market Outlook

(29-05-2019)

Nifty-Intra Day Chart (28-May-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts
1- Whole day Down moves in Bullish Falling Channel
2- Sharp up in last hour
3- Whole day actual trading between 11865-11958

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Finally rally continuation after minor correction and sideways consolidation":-

As Very Short Term indicators have turned over bought therefore minor correction and consolidation is also required which may be sideways also but expected that finally rally will remain continued after follow up consolidation.

As was told 100% same happened and Nifty closed flat after minor intraday correction but Whole day Down moves were in Bullish Falling Channel therefore consolidation developed and resultant Sharp up were seen in last hour.

Nifty traded more than 4 hours between 11913-11957 and consolidated as well as closed within this range today therefore follow up consolidation tomorrow will mean fresh rally beginning towards and above 12000 and only sustaining above 11957 should be watched for its beginning.

Finally rally continuation after minor correction and sideways consolidation 

Intra Day Chart Analysis & Market Outlook

(28-05-2019)

Nifty-Intra Day Chart (27-May-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 11854-11599
2- More than 4 hours trading with Mixed Patterns formation between 11913-11957
3- Whole day actual trading between 11813-11957

Conclusions from intra day chart analysis 

Although firstly lower levels consolidation but after that more than 4 hours trading with Mixed Patterns formation between 11913-11957 therefore firstly Nifty will trade and prepare for next decisive moves within and near about this range.

As Very Short Term indicators have turned over bought therefore minor correction and consolidation is also required which may be sideways also but expected that finally rally will remain continued after follow up consolidation.

Minimum 10% rally after huge victory of BJP & NDA

Technical Analysis,Research & Weekly Outlook

(May 27 to May 31,2019)

Nifty-EOD Chart Analysis(Waves structure)

Nifty-EOD Chart (24-May-2019):-

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Nifty-EOD Chart Analysis(Gap support)

Nifty-EOD Chart (24-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 12041.10 on 23-05-2019
7- Last 5 Sessions sideways trading between 11602-12041 
8- Strong 165 points gap support formations between 11426-11591 on 20-05-2019

Nifty-Previous 6 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 17 to May 24,2019):-

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Technical Patterns formation in last 6 Sessions intraday charts
1- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
1- Whole day up moves with intraday corrections on 20-05-2019
2- Mixed Patterns formation between 11815-11883 on 21-05-2019
3- Consolidation and volatility on 22-05-2019
4- All the Down moves in Bullish Falling Channels on 23-05-2019
5- Whole day up moves with intraday corrections on 24-05-2019
6- 5 Sessions actual trading between 11600-12041 

Nifty-Intra Day Chart Analysis(24-05-2019)

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

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day up moves with intraday corrections
3- Whole day actual trading between 11659-11859

Conclusions from EOD chart analysis 

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11602-12041 for the last 5 Sessions

Rally is very much on and no signal of its completion yet because selling patterns have not developed yet on intraday and daily charts. 

As huge 165 points gap formed between 11426-11591 on 20-05-2019 therefore this range will be immediate strong support of Nifty.

Conclusions from 6 Sessions intra day chart analysis 

As Modi ji's strong Govt possibility emerged in Exit polls on 19-05-2019 therefore strong 165 points gap(11426-11591) up opening on 20-05-2019 and whole week sustaining above 11426 means that this gap will not be easily filled up and strong rally will remain continued above it.

Although Mixed Patterns formation between 11815-11883 on 21-05-2019 and previous week closing between it at 11844.10 but good consolidation between 11600-12041 in previous week therefore finally rally continuation above 12041 is expected in the coming weeks. 

Conclusions from intra day chart analysis 

Although firstly slipping after strong opening but down moves were in Bullish Falling Channels therefore upmoves started and closing was near the higher levels of the day. 

As whole day up moves were with continuous intraday corrections and no intraday selling patterns formation therefore on going rally continuation is expected in the coming sessions.

Conclusions (After Putting All Studies Together)

We are not telling only today for "Minimum 10% rally after huge victory of BJP & NDA" but we predicted this line again and again from 13-04-2019, its live proofs are as follows:-

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

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.

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

Above topic of 350 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial News Papers "THE ECONOMIC REVOLUTION(15-04-2019 TO 21-04-2019" also. For live proofs pictures of above topic as also being posted as follows:-

1- English News Paper:-

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2- Gujarati News Paper:-

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As was told 100% same happened and NDA won 353 on 23-05-2019 as well as fresh rally begun before this date on 21-05-2019 with new life time highest formation at 11883.50.

As heavy rigging and violence by TMC in West Bengal during elections therefore we reduced a little our election results projections for NDA and told following lines on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

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

Above topic with 290 seats victory for BJP and 340 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial news papers "THE ECONOMIC REVOLUTION(20-05-2019 TO 24-05-2019" also. For live proofs pictures of above topic as also being posted as follows:-

1- English News Paper

Just click on chart for its enlarged view

Just click on chart for its enlarged view

2- Gujarati News Paper

Just click on chart for its enlarged view

Just click on chart for its enlarged view

Long and Intermediate Term Trends are up but Short Term Trend has turned sideways between 11602-12041 for the last 5 Sessions after Exit Pools and Parliamentary Election results. As sentiment has turned heated due to big victory of BJP and NDA therefore Indian markets will firstly remain sideways for cooling down and prepare for more than 10% rally. 

Expected that finally 10% rally will begin and remain continued above 12000 after follow up consolidation in the coming sessions/weeks.   

Finally fresh rally above 12000 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(24-05-2019)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Sharp up after Green opening
2- All the Down moves in Bullish Falling Channels
3- Whole day actual trading between 11615-12041

Conclusions from intra day chart analysis 

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019" and repeated 2 times also in this week:-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

As steep fall in Dow Jones's Futures and in most Asian and European markets started therefore sharp down moves begun in indian markets also but all the Down moves were in Bullish Falling Channels hence expected that finally fresh rally above 12000 will be seen after follow up consolidation in the coming sessions.

Finally Rally after Election results declaration led high volatility 

Intra Day Chart Analysis & Market Outlook

(23-05-2019)

Nifty-Intra Day Chart (22-May-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 11707-11747
3- Intraday volatility
4- Whole day actual trading between 11683-11684

Conclusions from intra day chart analysis 

As whole day good consolidation and no selling patterns formations therefore on going rally continuation is expected after yesterday started Very Short Term correction completion today. 

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

Nifty moved above life time high yesterday and formed new life time high at 11883.50 before slipping but above mentioned projections are confirm and finally strong rally will remain continued. 

It should also be kept in mind that tomorrow is Election results declaration day and intraday volatility will be high which will be guided according to stable Govt formations possibility under Modi ji leadership therefore remin cautious also tomorrow.

Rally continuation after 1/2 sessions follow up consolidation

Intra Day Chart Analysis & Market Outlook

(22-05-2019)

Nifty-Intra Day Chart (21-May-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- More than 3 hours sideways trading with Mixed Patterns formation between 11815-11883
2- All the Down moves in Bullish Falling Channels
3- Whole day actual trading between 11683-11883

Conclusions from intra day chart analysis 

As strong possibility of BJP victory emerged after Exit Polls declaration on 19-05-2019 therefore strong 3.69% rally was seen on 20-05-2019. Resultant Very Short Term indicators have turned overbought and sentiment was heated therefore following lines were told yesterday in "Finally rally above life time highest":-

"only a Very Short Term correction is expected which may be sideways also"

Although 200 points slipping from higher levels and today closing at lower levels of the day but view will not be Bearish because:- 

1- Firstly more than 3 hours sideways trading with Mixed Patterns formation and genuine selling patterns were not seen.
2- All the last hour Down moves were in Bullish Falling Channels.

As consolidation patterns formations also today therefore same view of rally continuation after 1/2 sessions follow up consolidation.

Finally rally above life time highest 

Intra Day Chart Analysis & Market Outlook

(21-05-2019)

Nifty-Intra Day Chart (20-May-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Whole day up moves with intraday corrections
3- Whole day actual trading between 11592-11845

Conclusions from intra day chart analysis 

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

As was told 100% same happened and Nifty closed at life time highest today after gap up opening and whole day up moves were seen through consolidation and intraday corrections.

As Very Short Term indicators have turned overbought after 3.69% rally therefore only a Very Short Term correction is expected which may be sideways also but finally rally above life time highest will be seen in the coming sessions.

Rally above life time high after Modi ji strong victory on 23-05-2019

Technical Analysis,Research & Weekly Outlook

(May 20 to May 24,2019)

Nifty-EOD Chart Analysis(Retracement levels)

Nifty-EOD Chart (17-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave 5 beginning from 10004.55 on 26-10-2018
2- Short Term Correction beginning after new life time top formation at 11856.15 on 18-04-2018
3- Got supports near 38.2% retracement level after recent bottom formations at 11108.30 on 14-05-2019 

Nifty-EOD Chart Analysis(Averages)
Nifty-EOD Chart (17-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave 5 beginning from 10004.55 on 26-10-2018
2- Short Term Correction beginning after new life time top formation at 11856.15 on 18-04-2018
3- Got supports near 100-Day DMA after recent bottom formations at 11108.30 on 14-05-2019 

Nifty-Previous 7 Sessions intraday charts analysis
Nifty-Intra Day Chart (May 09 to May 17,2019):-

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Technical Patterns formation in last 7 Sessions intraday charts

1- Consolidation Patterns formation on 9th and 10th May
2- Mixed Patterns formation on 13th May
3- Consolidation on 14th May
4- Mixed Patterns formation on 15th May
5- Consolidation on 16th May
6- Whole day consolidation on 17th May
7- 7 Sessions actual trading between 11109-11426 

Nifty-Intra Day Chart Analysis(17-05-2019)
Nifty-Intra Day Chart (17-May-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Consolidation between 11287-22325
2- Intraday correction
3- Down moves in Bullish Falling Channel
4- Sharp up in last hour
5- Whole day actual trading between 11260-11426

Conclusions from EOD chart analysis(Retracement levels & Averages) 

The Short Term Correction which begun after new life time top formation at 11856.15 on 18-04-2018 stopped at 11108.30 on 14-05-2019. As correction paused near crucial 38.2% retracement level and 100-Day DMA therefore strong indications of correction completion at 11108.30 on 14-05-2019.   

Conclusions from 7 Sessions intra day chart analysis

As crashing like situation in all the Global markets in previous weeks due to US-China trade war therefore Indian markets also slipped fast but without intraday selling patterns formation and with consolidation/Mixed patterns formations also hence strong rally was seen last Friday which is strong signal of correction completion after closing above last 7 sessions trading range.

Conclusions from intra day chart analysis(17-05-2019) 

Firstly consolidation through sideways trading between 11287-22325 and after that whole day up moves through intraday correction and follow up consolidation through down moves in Bullish Falling Channel as well as sharp up in last hour therefore last Friday started rally continuation is expected in the beginning of next week.

Conclusions (After Putting All Studies Together)

As all the Global markets started to crash after US-China tariff war therefore correction started in Indian markets also but following developments on EOD and intraday charts are suggesting strong indications of correction completion at 11108.30 on 14-05-2019:-

1- Nifty got supports near crucial 38.2% retracement level   
2- Nifty got supports near 100-Day DMA 
3- 7 Previous sessions trading range broken out on 17-05-2017
4- Last Friday closing was above 7 sessions highest after whole day intraday consolidation.

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

Markets are prepared for fresh,strong and powerful rally

Intra Day Chart Analysis & Market Outlook

(17-05-2019)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Consolidation between 11144-11190 
2- Intraday correction in last hour
3- Whole day actual trading between 11144-11281

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly watch levels for the life of on going correction":-

firstly sustaining beyond 11109-11286 should be watched in the coming sessions for the life of on going correction

Nifty traded whole day today within above mentioned trading range with good consolidation between 11144-11190. As good consolidation was between 11109-11155  on 14-05-2019 and Nifty consolidated within and above it today therefore supports above 11109 have been strengthened and until complete selling will not develop till then Nifty will not sustain below 11109.

As Indian markets will react in next week on Exit Poll results and Election results therefore volatility may remain high during uncertainity but once sustaining above 11190 will mean fresh rally after ongoing correction completion. 

As Indian markets have formed base at lower levels in this week therefore Indian markets are well prepared for fresh,strong and powerful rally which will be seen after Modi ji's confirmation on PM post.

Firstly watch levels for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(16-05-2019)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts
1- Mixed Patterns formation between 11202-11286
2- Sharp fall in last hour
3- Whole day actual trading between 11137-11286

Conclusions from intra day chart analysis 

Although almost whole day positive zone trading but sharp fall in last hour because fast slipping of Dow Jones's Futures and all European markets was seen in last hour. 

As good consolidation between 11109-11155 yesterday therefore it will be immediate supports of Nifty but more than 5 hours trading with Mixed Patterns formation between 11202-11286 also today hence Nifty has to trade and prepare for next decisive moves within 11109-11286.

Correction is on and no confirmation of its completion yet as well as all the Global markets are dancing on the tunes of US-China trade war therefore firstly sustaining beyond 11109-11286 should be watched in the coming sessions for the life of on going correction because indian markets will have to react in next week on Exit Poll results and Election results also.