Although 78 points recovery from lower levels despite weak Global markets but slipping also from higher levels(7673) after gap down weak opening of all European markets. Certainly Indian markets are out performing Global markets and once sustaining above 7655/7673 will mean fast strong rally. If any most depressing news does not come from Israel-Palestine conflict and Crude rates then it is confirm that strong rally will be seen in next week.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Mid-session Outlook(18-07-2014)
Sharp down immediately after opening but lower levels supports with consolidation patterns formations and no selling patterns seen yet today therefore finally up moves are expected above yesterday highest(7655)
Israel-Palestine conflict impact on all Global and Indian Markets
Pre-open Outlook(18-07-2014)
Pre-open Outlook(18-07-2014)
As Israel launched a ground attack in Gaza and a passenger jet shot down by missile in Ukraine therefore all the Global markets are down and some are more than 1% weak,resultant sentiment is completely depressed today morning and weaker opening will be seen in Indian markets. 10 days of Israel-Palestine conflict and its enhancement may result involvement of other Arabian countries also in this war therefore it may impact Crude rates and Global stock markets.
Following conclusion has already been updated in Technical Analysis and Market Outlook(15-07-2014 , 16-07-2014 & 17-07-2014):-
Nifty will be understood sideways between 7423-7808
As consolidation was seen between 7615-7635 yesterday therefore fresh selling is firstly required for sustaining below 7615 and follow up selling on the back of mentioned news will mean slipping towards next following supports:-
1- 7534-7572
2- 7460-7475
3- 7423-7445
Next resistances at higher levels are as follows:-
1- 7690-7731
2- 7756-7800
Long and Intermediate Term trends are up and Short Term is sideways between 7423-7808 and valid break out of this range will decide next big trend. Nifty will prepare for Post Budget big moves within this range and finally big moves are still expected above 7808 but today and may be coming sessions may remain in the grip of Israel-Palestine conflict therefore above mentioned levels should be watched for the beginning of next trend.
Technical Analysis and Market Outlook(18-07-2014)
Nifty-Intra Day Chart (17-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- Profit booking between 7634-7644
2- Consolidation between 7615-7630
3- Consolidation between 7624-7635
4- Higher bottom formations
5- Whole day actual trading between 7615-7655
Although profit booking firstly but lower levels consolidations with higher bottom formations therefore signals of follow up consolidation after more than 2% rally in previous 2 sessions and expected that finally up moves will be seen above today highest(7655).
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| Just click on chart for its enlarged view |
1- Profit booking between 7634-7644
2- Consolidation between 7615-7630
3- Consolidation between 7624-7635
4- Higher bottom formations
5- Whole day actual trading between 7615-7655
Conclusions from intra day chart analysis
Although profit booking firstly but lower levels consolidations with higher bottom formations therefore signals of follow up consolidation after more than 2% rally in previous 2 sessions and expected that finally up moves will be seen above today highest(7655).
Pre-closing Outlook(17-07-2014)
Although slipping from intraday higher levels and now trading below 7643 also but lower levels consolidation patterns formations today therefore finally up moves are expected above today highest(7655)
Mid-session Outlook-2(17-07-2014)
As lower levels higher bottom formations with consolidation patterns formations between 7613-7643 therefore high possibility of sustaining above this range.
Mid-session Outlook(17-07-2014)
Today is rest taking day after more than 2% rally in last 2 sessions therefore quiet,flat and 30 points range bound Nifty between 7613-7643 and preparing for next decisive moves. Now Nifty is sideways between 7423-7808 with lower levels strong supports and higher levels selling within this range as well as Indian markets will prepare for next big "post Budget trend" within this range.
Although Nifty is now trading near the lowest of today but as such selling patterns are not seen today but some indications of consolidation patterns also developed. Let Indian markets completely prepare for next trend within or near about today first 2 hours trading range(7613-7643) then next decisive moves will be updated in the same manner as being done for the last more than 4 years in this Blog.
Although Nifty is now trading near the lowest of today but as such selling patterns are not seen today but some indications of consolidation patterns also developed. Let Indian markets completely prepare for next trend within or near about today first 2 hours trading range(7613-7643) then next decisive moves will be updated in the same manner as being done for the last more than 4 years in this Blog.
Technical Analysis and Market Outlook(17-07-2014)
Nifty-Intra Day Chart (16-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- More than 5 hours consolidation between 7534-7572
2- Sharp up moves in last hour.
3- Whole day actual trading between 7534-7640.
Although sharp Up moves started at 02:29 PM but we predicted it at 01:08 PM and told following lines in Mid-session Outlook(16-07-2014)
We told following line yesterday in Technical Analysis and Market Outlook(16-07-2014)
1- emergence of correction completion possibility above yesterday lowest(7423).
2- more up moves are expected towards next resistance(7690)
Following conclusions were projected in Technical Analysis and Market Outlook(15-07-2014 & 16-07-2014) and being repeated for coming sessions also:-
Nifty will be understood sideways between 7423-7808 and more up moves are expected towards next resistance(7690). As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-
1- 7690-7731
2- 7756-7800
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| Just click on chart for its enlarged view |
1- More than 5 hours consolidation between 7534-7572
2- Sharp up moves in last hour.
3- Whole day actual trading between 7534-7640.
Conclusions from intra day chart analysis
Although sharp Up moves started at 02:29 PM but we predicted it at 01:08 PM and told following lines in Mid-session Outlook(16-07-2014)
strong indications of fresh rally beginning after correction completion in previous 2 sessions.
We told following line yesterday in Technical Analysis and Market Outlook(16-07-2014)
1- emergence of correction completion possibility above yesterday lowest(7423).
2- more up moves are expected towards next resistance(7690)
As was told well before for today up moves same happened and more than 1% rally seen today.
Following conclusions were projected in Technical Analysis and Market Outlook(15-07-2014 & 16-07-2014) and being repeated for coming sessions also:-
Nifty will be understood sideways between 7423-7808 and more up moves are expected towards next resistance(7690). As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-
1- 7690-7731
2- 7756-7800
Pre-closing Outlook(16-07-2014)
When many were telling for deeper correction then we continuously projected Bullish views in all the Outlooks since since 11-07-2014 and more than 2% rally seen today and yesterday. All the Outlooks on Home page are live proof of this fact that we were Bullish since the beginning of on going rally.
Rally is on and testing of following resistances will be seen in the coming sessions.
1- 7690-7731
2- 7756-7800
Rally is on and testing of following resistances will be seen in the coming sessions.
1- 7690-7731
2- 7756-7800
Mid-session Outlook(16-07-2014)
Although sharp down form higher levels and 4 times new intraday lows formations but today intraday patterns are not showing selling and signalling consolidations therefore strong indications of fresh rally beginning after correction completion in previous 2 sessions.
Technical Analysis and Market Outlook(16-07-2014)
Nifty-Intra Day Chart (15-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- Profit booking between 7507-7524
2- Supports between 7460-7475
3- Follow up consolidation
4- Sharp up in last hours.
5- Whole day actual trading between 7460-7534
When Nifty was trading near the lowest of the day yesterday at 7435 then following lines were told at 01:10 PM in Mid-session Outlook(14-07-2014):-
consolidation patterns formations therefore expected that deeper correction will not be seen and correction will complete near about 7400.
Following lines were told yesterday in Technical Analysis and Market Outlook(15-07-2014):-
up moves will be firstly seen towards 7690 as well as it is expected also in the coming sessions.
Firstly gap up strong opening but immediately after that profit booking between 7507-7524 in first 2 hours and sharp down moves seen today. As lower levels supports also seen between 7460-7475 therefore emergence of correction completion possibility above yesterday lowest(7423). Although good follow up consolidation in last 3 hours but sufficiently good selling also seen in first 2 hours therefore confirmation through sustaining above today resistance(7507-7524) is firstly required tomorrow because that will mean base formation at lower levels in last 2 sessions between 7423-7478 for next strong rally .
As sentiment was much heated and cooling down was required therefore correction was seen from 7808 after Rail and Union Budget in previous week but lower levels supports with consolidation was seen above 7423 in both previous sessions of this week. Now Nifty will be understood sideways between 7423-7808 and more up moves are expected towards next resistance(7690). As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-
1- 7690-7731
2- 7756-7800
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| Just click on chart for its enlarged view |
1- Profit booking between 7507-7524
2- Supports between 7460-7475
3- Follow up consolidation
4- Sharp up in last hours.
5- Whole day actual trading between 7460-7534
Conclusions from intra day chart analysis
When Nifty was trading near the lowest of the day yesterday at 7435 then following lines were told at 01:10 PM in Mid-session Outlook(14-07-2014):-
consolidation patterns formations therefore expected that deeper correction will not be seen and correction will complete near about 7400.
Following lines were told yesterday in Technical Analysis and Market Outlook(15-07-2014):-
up moves will be firstly seen towards 7690 as well as it is expected also in the coming sessions.
As was told 2 times yesterday 100% same happened today and whole day positive zone trading with Nifty closing 0.97% up today
Firstly gap up strong opening but immediately after that profit booking between 7507-7524 in first 2 hours and sharp down moves seen today. As lower levels supports also seen between 7460-7475 therefore emergence of correction completion possibility above yesterday lowest(7423). Although good follow up consolidation in last 3 hours but sufficiently good selling also seen in first 2 hours therefore confirmation through sustaining above today resistance(7507-7524) is firstly required tomorrow because that will mean base formation at lower levels in last 2 sessions between 7423-7478 for next strong rally .
As sentiment was much heated and cooling down was required therefore correction was seen from 7808 after Rail and Union Budget in previous week but lower levels supports with consolidation was seen above 7423 in both previous sessions of this week. Now Nifty will be understood sideways between 7423-7808 and more up moves are expected towards next resistance(7690). As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-
1- 7690-7731
2- 7756-7800
Mid-session Outlook(15-07-2014)
Although down moves after first 2 hours profit booking between 7507-7524 but lower levels supports also seen between 7460-7475 therefore correction completion hopes are still alive above yesterday lowest(7423). As sufficiently good selling at higher levels today therefore equally good follow up consolidation is also required above yesterday lowest(7423) for next rally above today highest.
First signal of next decisive moves will be sustaining beyond 7423-7524 and should be firstly watched in the coming sessions.
Technical Analysis and Market Outlook(15-07-2014)
Nifty-Intra Day Chart (14-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Whole day sideways trading with consolidation patterns formations.
3- Whole day actual trading between 7423-7478
Although flat closing with whole day sideways trading within 55 points but with consolidation patterns formations therefore first signal of that correction completion which started from 7808 on Rail Budget day. Sustaining above today highest will be understood sideways market between 7423-7808 and up moves will be firstly seen towards 7690 as well as it is expected also in the coming sessions. As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-
1- 7690-7731
2- 7756-7800
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Whole day sideways trading with consolidation patterns formations.
3- Whole day actual trading between 7423-7478
Conclusions from intra day chart analysis
Although flat closing with whole day sideways trading within 55 points but with consolidation patterns formations therefore first signal of that correction completion which started from 7808 on Rail Budget day. Sustaining above today highest will be understood sideways market between 7423-7808 and up moves will be firstly seen towards 7690 as well as it is expected also in the coming sessions. As following resistances therefore follow up consolidation is firstly required for new all time high formation and next rally above 7808:-
1- 7690-7731
2- 7756-7800
Mid-session Outlook(14-07-2014)
Firstly strong recovery immediately after Budget and after that continuous down moves in last 2 sessions but with consolidation patterns formations therefore expected that deeper correction will not be seen and correction will complete near about 7400.
NIFTY-Jul F&O-Positional Buying of 08-07-2014-Averaging
NIFTY Jul CE(7900) & Fut(Bought on 08-07-2014)-Fut covered with 109 points profit yesterday but Option is still holding.May buy & average Call Option now-CMP-7.50(Lalit39)
Pre-closing Outlook(11-07-2014)
Although most of the time slipping from higher levels and now Nifty is trading 1.50% down also but whole day down moves are in Bullish falling channel therefore expected that rally will be seen in next week after on going correction completion near about today lowest.
Bullish pattern of "Inverted Head and Shoulder" like formation today
Mid-session Outlook(11-07-2014)
As all the Global market were in deep Red therefore Indian markets also moved sharply down in last 2 hours yesterday and today also slipped since 09:30 AM. Today first 4 hours down moves are in "Bullish Falling Channel" and Bullish pattern of "Inverted Head and Shoulder" like formation also seen after 12:12 PM with its Neckline at 7533. Valid break out above 7533 will be confirmation of its formation and strong indication of on going Very Short Term correction completion also therefore should be firstly watched now.
Technical Analysis and Market Outlook(11-07-2014)
Nifty-Intra Day Chart (10-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7480-7588
2- Up moves with intraday correction
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 7480-7731
High volatility on Budget day with good consolidation at lower levels and after that sharp recovery immediately after the closure of Budget speech. Although Indian markets could not sustain at higher levels but up moves were with intraday correction and down moves were in Bullish Falling Channel which are indicating consolidation therefore up moves are still expected despite 190 points slipping from higher levels in last 2 hours.
As Dow Futures slipped more than 120 points and all the European markets also traded more than 1% down therefore Indian markets would have reacted through slipping in last 2 hours and Global markets impact on Indian markets should be firstly understood tomorrow. Although US and European markets are trading more than 1% weak at this moment but good consolidation at lower levels between 7480-7588 today therefore sustaining beyond this range should be firstly watched for next trend and market reaction on Budget confirmations.
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| Just click on chart for its enlarged view |
1- Consolidation between 7480-7588
2- Up moves with intraday correction
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 7480-7731
Conclusions from intra day chart analysis
High volatility on Budget day with good consolidation at lower levels and after that sharp recovery immediately after the closure of Budget speech. Although Indian markets could not sustain at higher levels but up moves were with intraday correction and down moves were in Bullish Falling Channel which are indicating consolidation therefore up moves are still expected despite 190 points slipping from higher levels in last 2 hours.
As Dow Futures slipped more than 120 points and all the European markets also traded more than 1% down therefore Indian markets would have reacted through slipping in last 2 hours and Global markets impact on Indian markets should be firstly understood tomorrow. Although US and European markets are trading more than 1% weak at this moment but good consolidation at lower levels between 7480-7588 today therefore sustaining beyond this range should be firstly watched for next trend and market reaction on Budget confirmations.
NIFTY-Jul F&O-Positional Buying of 08-07-2014-Covering
NIFTY Jul F&O(Bought on 08-07-2014)-Target achieved in Fut therefore Cover and Book Profit Immediately in Fut and Hold 7900 Call option-CMP Fut-7734(Lalit39)
Rally after Budget
Mid-session Outlook(10-07-2014)
Mid-session Outlook(10-07-2014)
Although slipping immediately after positive opening but today intraday charts are showing consolidation patterns formations. As last 2 sessions also showed consolidation patterns despite steep fall from higher levels and negative closing therefore expected that finally rally with new all time high formations will be seen after Union Budget-2014 and/or in the coming couple of sessions.
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