6284 broken down forcefully and emergence of deeper correction possibility.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(17-01-2014)
As selling therefore very Short Term Correction was was told yesterday and it is being seen since opening today through whole day negative zone trading but last more than 2 hours intraday patterns are showing consolidation patterns formations and lower levels supports as well therefore sustaining beyond 6284--6358 should be firstly watched for next immediate trend confirmations.
Technical Analysis and Market Outlook(17-01-2014)
Nifty-Intra Day Chart (16-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling patterns formation between 6328-6346
2- Support between 6300-6312
3- Selling patterns formation between 6324-6332
4- Whole day actual trading between 6300-6346
Although some supports at lower levels but higher levels selling also seen today therefore very short term correction is expected in the coming sessions because:-
1- selling below 6325 on 14-01-2014
2- Today follow up selling within previous resistances between 6260-6358
 |
| Just click on chart for its enlarged view |
1- Selling patterns formation between 6328-6346
2- Support between 6300-6312
3- Selling patterns formation between 6324-6332
4- Whole day actual trading between 6300-6346
Conclusions from intra day chart analysis
Although some supports at lower levels but higher levels selling also seen today therefore very short term correction is expected in the coming sessions because:-
1- selling below 6325 on 14-01-2014
2- Today follow up selling within previous resistances between 6260-6358
RIL-Jan Put Option(880)-Positional-Buying Trade
RIL-Jan PE(880)-Buy-Positional-SL-6.90 & TGT-19.90-CMP-13.00(Lalit39)
Mid-session Outlook(16-01-2014)
As selling below 6325 yesterday therefore following line was told in previous Outlook yesterday:-
As was told 100% same happened and Nifty could not sustain above 6325 and slipped below it immediately after opening today despite positive Global cues today morning
until Nifty will not sustain above today highest till then next up moves will not be considered.
As was told 100% same happened and Nifty could not sustain above 6325 and slipped below it immediately after opening today despite positive Global cues today morning
As some supports also seen at lower levels today therefore valid break out of today trading range(4300-4346) will ne next immediate moves confirmations.
BHARTI-Jan Put Option(320)-Positional Buying of 14-01-2014-Covering
BHARTI-Jan PE(320)-Bought on 14-01-2014-Target achieved,Cover and book profit immediately-CMP-6.40(Lalit39)
Technical Analysis and Market Outlook(16-01-2014)
Nifty-Intra Day Chart (15-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6307-6316.
2- Up moves in Bearish Rising Channel in last 2 hours.
3- Whole day actual trading between 6266-6325
Strong recovery from lower levels after strong global markets and improved WPI numbers but selling at higher levels and last 2 hours Up moves in Bearish Rising Channel also therefore until Nifty will not sustain above today highest till then next up moves will not be considered.
TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Although today closing near the highest of today but follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6325 should be firstly watched now for next moves 1st indication because today selling patterns were seen within strong resistances between 6260-6358.
 |
| Just click on chart for its enlarged view |
1- Selling between 6307-6316.
2- Up moves in Bearish Rising Channel in last 2 hours.
3- Whole day actual trading between 6266-6325
Conclusions from intra day chart analysis
Strong recovery from lower levels after strong global markets and improved WPI numbers but selling at higher levels and last 2 hours Up moves in Bearish Rising Channel also therefore until Nifty will not sustain above today highest till then next up moves will not be considered.
TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Although today closing near the highest of today but follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6325 should be firstly watched now for next moves 1st indication because today selling patterns were seen within strong resistances between 6260-6358.
Mid-session Outlook(15-01-2014)
As strong global markets and improved WPI numbers therefore strong recovery from lower levels after positive opening but selling also seen at higher levels within previous resistance range(6260-6358). TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6316 should be firstly watched now for next moves 1st indication.
Technical Analysis and Market Outlook(15-01-2014)
Nifty-Intra Day Chart (14-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6265-6278
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between 6234-6278
Firstly higher levels some selling but whole day down moves in Bullish Falling Channel also therefore mixed intraday patterns formation today and Indian markets are not prepared for any side decisive moves at this moment.
Last 24 sessions trading between 6130-6358 with following technical positions:-
1- Higher levels resistances between 6260-6358.
2- 5 Sessions trading between 6139-6239 with selling indications in previous week.
3- Firstly strong recovery and almost 6 hours trading between 6232-6256 on 13-01-2014 with the expectation of inflation reduction.
As most time selling in last 24 sessions therefore deeper correction possibility should be kept in mind but firstly sustaining beyond 6232-6256(almost 6 hours trading range of yesterday) should be watched for next immediate short term moves confirmations because this range trading was after strong recovery.
 |
| Just click on chart for its enlarged view |
1- Selling between 6265-6278
2- Down moves in Bullish Falling Channel.
3- Whole day actual trading between 6234-6278
Conclusions from intra day chart analysis
Firstly higher levels some selling but whole day down moves in Bullish Falling Channel also therefore mixed intraday patterns formation today and Indian markets are not prepared for any side decisive moves at this moment.
Last 24 sessions trading between 6130-6358 with following technical positions:-
1- Higher levels resistances between 6260-6358.
2- 5 Sessions trading between 6139-6239 with selling indications in previous week.
3- Firstly strong recovery and almost 6 hours trading between 6232-6256 on 13-01-2014 with the expectation of inflation reduction.
As most time selling in last 24 sessions therefore deeper correction possibility should be kept in mind but firstly sustaining beyond 6232-6256(almost 6 hours trading range of yesterday) should be watched for next immediate short term moves confirmations because this range trading was after strong recovery.
BHARTI-Jan Put Option(320)-Positional-Buying Trade
Bharti-Jan PE(320)-Buy-Positional-SL-1.90 & TGT-6.40-CMP-3.30(Lalit39)
Mid-session Outlook(14-01-2014)
Intraday charts of today are showing selling patterns formations and firstly sustaining beyond 6232-6256(almost 6 hours trading range of yesterday) should be watched for next immediate short term trend confirmations.
Technical Analysis and Market Outlook(14-01-2014)
Nifty-Intra Day Chart (13-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Almost 6 hours trading between 6232-6256
3- Whole day actual trading between 6190-6288
Although selling in previous week but strong recovery from lower levels seen immediately after opening and almost 6 hours 24 points range bound trading between 6232-6256 and its break out in last half hour seen today. As today up moves were on the expectations of rates reduction by RBI due to expected reduction in inflation today therefore sustaining beyond today most time trading range(6232-6256) should be firstly watched tomorrow for confirmations
 |
| Just click on chart for its enlarged view |
1- Almost 6 hours trading between 6232-6256
3- Whole day actual trading between 6190-6288
Conclusions from intra day chart analysis
Although selling in previous week but strong recovery from lower levels seen immediately after opening and almost 6 hours 24 points range bound trading between 6232-6256 and its break out in last half hour seen today. As today up moves were on the expectations of rates reduction by RBI due to expected reduction in inflation today therefore sustaining beyond today most time trading range(6232-6256) should be firstly watched tomorrow for confirmations
High possibility of slipping and sustaining below 6130
Technical Analysis,Research & Weekly Outlook
(Jan 13 to Jan 17,2014)
Nifty-EOD Chart (10-Jan-2014):- |
| Just click on chart for its enlarged view |
1- Bottom formation at 5118.85 on 28-08-2013 and Wave-1 beginning
2- Wave-1(6142.50 on 19-09-2013)
3- Wave-2(5700.95 on 01-10-2013)
4- Wave-i of Wave-3(6342.95 on 03-11-2013)
5- Wave-ii of Wave-3(5972.45 on 13-11-2013)
6- Wave-iii of Wave-3(6415.25 on 09-12-2013)
7- Wave-iv of Wave-3(6129.95 on 18-12-2013)
8- Correction beginning after Wave-v of Wave-3 terminating at 6358.30 on 02-01-2014.
9- Correction continuation with recent bottom formation at 6139,60 on 10-01-2014.
10- Last 5 sessions sideways trading between 6140-6240.
11- 200-Day EMA(today at 5963).
12- 29 Sessions actual trading between 6130-6415
Conclusions from EOD chart analysis
Correction beginning after Wave-v of Wave-3 terminating at 6358.30 on 02-01-2014 and last 5 sessions sideways trading between 6140-6240,sustaining beyond this range will decide next immediate moves therefore should be firstly watched in the coming week.
Nifty-Intra Day Chart (Jan 06 to Jan 10,2014):-
 |
| Just click on chart for its enlarged view |
1- Higher levels good selling in last 5 sessions.
2- Lower levels minor supports in last 5 sessions.
3- 5 Sessions actual trading between 6139-6239
Conclusions from 5 Sessions intra day chart analysis
Although lower levels minor supports but higher levels good selling in last 5 sessions therefore expected that finally Nifty will slip below 5 sessions lowest(6139).
Nifty-Intra Day Chart (10-Jan-2014):-
 |
| Just click on chart for its enlarged view |
1- Support between 6140-6155
2- Up moves in Bearish Rising Channel.
3- Good selling between 6207-6239
4- Sharp down after 3 hours selling.
5- Whole day actual trading between 6140-6239
Conclusions from intra day chart analysis
Highly volatile day after good quarterly results INFY with higher levels good selling and up moves in Bearish Rising Channel therefore finally Nifty will slip below the lowest(6139) of the day.
Conclusions (After Putting All Studies Together)
Long and Intermediate Term Trends are up and Short Term trend turned down after steep fall from 6358.30 on 02-01-2014. Following levels will decide next trends:-
1- Intermediate Term Trend will be down after sustaining below 6130
2- Long Term Trend will be down after sustaining below 200-Day EMA(today at 5963)
9 Sessions sideways trading range(6260-6324) broken down after steep fall from 6358.30 on 02-01-2014 and Nifty sustained below it in previous week therefore its broken down confirmation.
Wave-v of Wave-3 has not shown shown force and moved up slowly as well as terminated after lower bottom formation at 6358.30 therefor emergence of its failure risk. As good selling in last 5 sessions therefore expected that finally Nifty will slip below 5 sessions lowest(6139) and high possibility of sustaining below 6130 as well as Intermediate Term Trend turning down risk. Mostly Intermediate Term Trend remains continued from 3 weeks to 3 months therefore testing of 200-Day EMA(today at 5963) can not be ruled out in this trend.
Should be kept in mind that high possibility of slipping and sustaining below 6130 in next week.
Mid-session Outlook(10-01-2014)
Firstly market slipped after good INFY results but recovered after low formation at 6139.60. As last 5 sessions were range bound with high formation at 6225 with higher levels selling therefore finally sustaining beyond 6130-6225 should be watched for next trend confirmations.
High possibility of sustaining below 6130
Technical Analysis and Market Outlook
(10-01-2014)
Nifty-Intra Day Chart Jan 08 & Jan 09,2014:- |
| Just click on chart for its enlarged view |
1- Good selling between 6181-6191 on 08-01-2014
2- Minor support between 6165-6172 on 08-01-2014
3- Slipping and trading below lowest of yesterday(6160.35)
4- Minor selling between 6176-6187 on 09-01-2014
5- Selling between 6165-6174 on 09-01-2014
6- Selling between 6173-6182 on 09-01-2014
7- Minor support between 6149-6157 on 09-01-2014
8- 2 Sessions actual trading between 6149-6191
Conclusions from 2 Sessions intra day chart analysis
Following conclusions were updated yesterday in Nifty Slipping below 6130:-
1- higher levels good selling and minor support
2- high possibility of slipping below the lowest of today
3- selling was seen in previous 2 sessions and follow up good selling also seen
4- Nifty will slip below 6130
5- sustaining below 6130 will mean mean correction continuation towards 200-Day EMA(today at 5959)
Although minor support at lower levels but follow up higher levels good selling today after previous 3 sessions selling therefore same view of slipping below 6130 as well as high possibility of sustaining below 6130 despite whatsoever INFY quarterly results tomorrow.
Nifty Slipping below 6130
Technical Analysis and Market Outlook
(09-01-2014)
Nifty-Intra Day Chart (08-Jan-2014):-(09-01-2014)
 |
| Just click on chart for its enlarged view |
1- Good selling between 6181-6191
2- Minor support between 6165-6172
3- Whole day actual trading between 6161-6191
Conclusions from intra day chart analysis
30 Points range bound market with higher levels good selling and minor support therefore high possibility of slipping below the lowest of today. As selling was seen in previous 2 sessions and follow up good selling also seen today therefore now expected that Nifty will slip below 6130 and once sustaining below 6130 will mean mean correction continuation towards 200-Day EMA(today at 5959).
Mid-session Outlook-3(08-01-2014)
Selling between 6179-6193 yesterday and almost 4 hours trading between this range therefore sustaining beyond this range willl be 1st strong indication of next moves and should be firstly watched tomorrow.
Mid-session Outlook-2(08-01-2014)
Selling between 6179-6193 yesterday and Nifty slipped below 6179 after almost 3 hours trading near about this range today. If Nifty sustains below 6179 then it will be 1st strong indication of down moves.
Mid-session Outlook(08-01-2014)
Whatsoever market suggests from technical analysis only all that is updated. As it was understood that Indian markets are not prepared for any side decisive moves and will remain range bound therefore following "Weekly analysis" topic was posted on 05-01-2014:-
As was told in above topic same was seen in previous both sessions and today were range bound within 6145-6225. Technical positions of previous 3 sessions as follow:-
1- Supports between 6145-6186
2- Selling between 6179-6220
Intraday patterns are showing lower levels supports and indications of consolidation as well despite slipping from higher levels in last half hour today. More or less sustaining beyond 6130-6220 will be next trend confirmation and expected such moves will be seen next Friday after INFY quarterly results.
Let market prepare for post INFY results decisive moves then will be updated from 5 sessions intraday charts analysis including today and tomorrow.
As was told in above topic same was seen in previous both sessions and today were range bound within 6145-6225. Technical positions of previous 3 sessions as follow:-
1- Supports between 6145-6186
2- Selling between 6179-6220
Intraday patterns are showing lower levels supports and indications of consolidation as well despite slipping from higher levels in last half hour today. More or less sustaining beyond 6130-6220 will be next trend confirmation and expected such moves will be seen next Friday after INFY quarterly results.
Let market prepare for post INFY results decisive moves then will be updated from 5 sessions intraday charts analysis including today and tomorrow.
Post-open Outlook(08-01-2014)
We are continuously telling that Indian markets are not trending but sideways and previous 3 sessions were completely range bound. Technical positions of previous 3 sessions and mid-Dec 2013 are suggesting that equally good supports and resistances are lying between 6130-6220 therefore sustaining beyond or forceful break out of this range will decide next decisive moves and should be firstly watched now.
As far as today 1st hour technical positions are concerned,it is being observed that intraday patterns are showing lower levels supports and indications of consolidation as well.
As far as today 1st hour technical positions are concerned,it is being observed that intraday patterns are showing lower levels supports and indications of consolidation as well.
Subscribe to:
Posts (Atom)