Technical Analysis,Research & Weekly Outlook(Nov 10 to Nov 14,2014)

Nifty-Intra Day Chart (Nov 03 to Nov 07,2014):-

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Technical Patterns and Formations in last 3 Sessions intraday charts

1- Higher levels selling and lower levels good consolidations in last 3 sessions
2- 3 Sessions actual trading between 8291-8365 

Conclusions from 3 Sessions intra day chart analysis 

Higher levels selling and lower levels good consolidations in last 3 sessions of previous week therefore Nifty will be understood sideways within 8291-8365

Nifty-Intra Day Chart (07-Nov-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 6291-6318
2- Minor selling patterns at higher levels
3- Whole day actual trading between 6291-6360

Conclusions from intra day chart analysis 

Although lower levels good consolidation but selling patterns formations also at higher levels therefore firstly follow up consolidation is must for decisive up moves despite day's closing near the higher levels of the day.

Conclusions (After Putting All Studies Together)

Nifty traded 49 sessions sideways between 7724=8180 and this trange was forcefully broken out on 31-10-2014 as well as last 3 sessions of previous week were range bound between 8291-8365. Although lower levels good consolidation but some selling was also seen in last 3 sessions of previous week therefore expected that Nifty will firstly trade and prepare for next decisive moves within the trading range of previous week(8291-8365). Next supports and resistances are as follows:-

1- Supports between 6291-6318
2- Supports between 8324-8337
3- Supports between 8298-8310
4- Resistances between  8351-8364 

As good supports at lower levels in previous week therefore strong possibility fresh rally after follow up consolidations and sustaining above last 3 days highest(8365).

Technical Analysis and Market Outlook(07-11-2014)

Nifty-Intra Day Chart (05-Nov-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8351-8364 in first 2 hours
2- Consolidation between 8324-8337
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 8324-8365

Conclusions from intra day chart analysis 

Firstly 2 hours selling and slipping but lower levels consolidations also therefore intraday patterns formation will be understood mixed and follow up moves as well as sustaining beyond day's trading range(8324-8365) will be next very short term moves confirmation.

As most heated sentiments and oscillators are over bought therefore intraday or Very Short Term Corrections may be seen any day after some selling but All trends are up,Indian markets are most Bullish therefore until complete selling patterns will not develop on EOD charts till then Short Term Correction will not be considered. 

Mid-session Outlook-2(05-11-2014)

As fresh consolidation above 8324 after minor selling in first 2 hours therefore strong indication of intraday correction completion today and fresh rally confirmation will be after sustaining above 6363

Mid-session Outlook(05-11-2014)

Although positive zone trading since opening but selling patterns formations also seen above 8355 today.

Technical Analysis and Market Outlook(05-11-2014)

Nifty-Intra Day Chart (03-Nov-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8298-8310
3- Whole day actual trading between 8298-8331

Conclusions from intra day chart analysis

Following line was told on 02-11-2014  in Technical Analysis and Market Outlook(03-11-2014):-

consolidation is firstly required for next up moves above day's highest(8330)

As was told yesterday same is being seen and most time trading is below 8330 between 8298-8331 and closing also below 8330 at 8,324.15 on 03-11-2014.

Whole day consolidation patterns formations with lower levels multiple supports therefore emergence of rally continuation possibility. As most heated sentiments and oscillators are over bought therefore some down moves can not be ruled out but Nifty will not sustain below day's lowest(8298) and finally rally will remain continued in the coming sessions.

Mid-session Outlook(03-11-2014)

Following line was told yesterday in Technical Analysis and Market Outlook(03-11-2014):-

consolidation is firstly required for next up moves above day's highest(8330)

As was told yesterday same is being seen today because most time trading is below 8330 between 8298-8329. Let Nifty sustaining beyond this range then next decisive moves will be considered because till now mixed trading patterns formation today.

Technical Analysis and Market Outlook(03-11-2014)

Nifty-Intra Day Chart (31-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 8260-8385
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 8198-8330

Conclusions from intra day chart analysis 

Although whole day up moves after gap up opening but mixed Patterns formations between 8260-8385 and after that up moves in Bearish Rising Channel were also seen therefore some consolidation is firstly required for next up moves above day's highest(8330). As all trends are up and Nifty traded strongly  above life time high therefore any correction will be considered only after complete selling patterns formations on EOD charts but minor intraday and Very Short Term corrections may be seen any day because indicators are overbought and sentiment is much heated.

Finally rally continuation is expected in the coming sessions despite minor correction and volatility possibility.

Live Proofs of Rally above All Time High Predictions from 19-10-2014

Only we told for Rally 9 times in whole India

 When Nifty closed at the lowest of correction at 7780 on 17-10-2014(Friday) then then following line was told on 19-10-2014 in Technical Analysis and Market Outlook(20-10-2014):-

1- strong indication of fresh strong rally above all time high

In Technical Analysis and Market Outlook(21-10-2014):-

2- strong indication of fresh strong rally above all time high

In Technical Analysis and Market Outlook(22-10-2014):-

3- strong indication of fresh strong rally above all time high

In Technical Analysis and Market Outlook(27-10-2014):-

4- Finally rally continuation is expected above 8030 in next week

In Technical Analysis and Market Outlook(28-10-2014):-

5- finally rally continuation is expected in  the coming sessions

In Mid-session Outlook-2(28-10-2014):-

6- we are expecting finally rally in the coming sessions

In Technical Analysis and Market Outlook(29-10-2014):-

7- finally rally above all time high will be seen

In Mid-session Outlook(29-10-2014):-

8- up moves are expected in the coming sessions.

In Technical Analysis and Market Outlook(30-10-2014):-

9- rally continuation is expected after follow up consolidations

Technical Analysis and Market Outlook

(31-10-2014)

Nifty-Intra Day Chart (30-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Firstly up moves with intraday corrections.
2- Consolidation between 8140-8180 in last 3 hours
3- Whole day actual trading between 8086-8181

Conclusions from intra day chart analysis 

Following last resistance range was updated in Technical Analysis and Market Outlook(29-10-2014) and Technical Analysis and Market Outlook(30-10-2014):-

8140-8180

Nifty traded with consolidation patterns within this range on 30-10-2014 therefore this range will be next support and until Nifty will not sustain below 8140 till then any decisive down moves will not be seen. As firstly up moves with intraday corrections and after that 3 hours consolidation therefore rally continuation will be seen in the coming sessions.

Technical Analysis and Market Outlook(30-10-2014)

Nifty-Intra Day Chart (29-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8053-8069
2- Minor selling at higher levels in last half hour
2- Whole day actual trading between 8053-8097

Conclusions from intra day chart analysis 

Although good consolidation at lower levels and closing near the higher levels of the day but selling patterns formations were also in last half hour therefore firstly consolidation is required for fresh rally because follow resistances above today highest:-

1- 8115-8160
2- 8140-8180

As lower levels good consolidations and all trends are up therefore rally continuation is expected after follow up consolidations. 

Mid-session Outlook(29-10-2014)

1st resistances between 8080-8088 was posted yesterday in Technical Analysis and Market Outlook(29-10-2014) and Nifty retraced after making today highest at 8081.05. Although high volatility today but lower levels consolidation also seen therefore up moves are expected in the coming sessions.

Technical Analysis and Market Outlook(29-10-2014)

Nifty-Intra Day Chart (28-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Minor selling immediately after opening
2- Down moves are in  Bullish Falling Channel
3- Consolidation between 7996-8010 
4- Whole day actual trading between 7996-8037

Conclusions from intra day chart analysis 

Although minor selling and slipping also immediately after opening but in  Bullish Falling Channel which is a consolidation pattern. As lower levels supports with follow up Down moves in  Bullish Falling Channel again seen therefore emergence of up moves expectations.

Following lines were told in Technical Analysis and Market Outlook(21-10-2014):-

As following resistances are also lying at higher levels therefore follow up consolidation is must for rally continuation:-

1- 7900-7937 
2- 7955-7972 
3- 8012-8030

Last resistance range is 8012-8030 and last 2 sessions most time actual trading between 7985-8038 as well as consolidation seen between resistance range therefore strong indications of above mentioned resistances clearance and rally continuation. 

Last resistances of Nifty are as follows:-

1- 8080-8088
2- 8115-8160
3- 8140-8180

Expected that Nifty will counter above resistances in the coming sessions and finally rally above all time high will be seen.

Mid-session Outlook-2(28-10-2014)

Although now trading near the lowest of today after higher levels selling but last 1 hour down moves are in  Bullish Falling Channel which is a consolidation pattern therefore today patterns are mixed. As sustaining beyond yesterday actual trading range(7985-8038) will be next decisive moves confirmation therefore should be firstly watched otherwise we are expecting finally rally in the coming sessions but after follow up consolidations.

Mid-session Outlook(28-10-2014)

Although positive zone trading since opening today but minor selling patterns were also seen between 8015-8020 therefore view is cautious and sustaining above 8020 should be firstly watched now for 1st indication of next up moves.

Technical Analysis and Market Outlook(28-10-2014)

Nifty-Intra Day Chart (27-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 7985-8038

Conclusions from intra day chart analysis 

Although slipping from higher levels and closing near the lowest of the day but Bullish Falling Channel formations seen which is a consolidation pattern therefore finally rally continuation is expected in  the coming sessions

Mid-session Outlook(27-10-2014)

Although slipping from higher levels but Bullish Falling Channel formations also seen therefore rally continuation expectations are alive.

Technical Analysis and Market Outlook(27-10-2014)

Nifty-Intra Day Chart (22-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7976-7988 
2- Up moves with intraday corrections
3- Whole day actual trading between 7976-8005

Conclusions from intra day chart analysis 

As lower levels consolidation and Up moves with intraday corrections also therefore emergence of rally continuation expectations in the coming sessions.

Nifty-Intra Day Chart (23-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 8009-8031

Conclusions from intra day chart analysis

Although most time slipping after gap up opening but in Bullish Falling Channel therefore rally continuation in the coming sessions.

Conclusions (After Putting All Indicators Together)

All trends are up and correction continuation for the last 28 sessions but with Bullish Flag formations on EOD charts therefore rally continuation is expected after correction completion. Last 17 sessions sideways trading between 7724-8030 with with higher levels resistances and once sustaining above 8030 will mean strong indication of fresh rally after correction completion.

Finally rally continuation is expected above 8030 in next week

Technical Analysis and Market Outlook(22-10-2014)

Nifty-Intra Day Chart (21-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 7875-7900
2- Consolidation between 7906-7919
3- Whole day actual trading between 7875-7936

Conclusions from intra day chart analysis 

As lower levels good consolidations yesterday and today all the Global markets re blasting therefore rally continuation after gap up opening today but when Indian markets were crashing in previous week then we told again and again for confirmation requirement of deeper correction and told following lines on 19-10-2014 in Technical Analysis and Market Outlook(20-10-2014):-

As Bullish Flag formation seen in last 25 sessions correction therefore deeper correction is not expected and once confirmation of sustaining above 7796/7724 will be a strong indication of fresh strong rally above all time high. 

Technical Analysis and Market Outlook(21-10-2014)

Nifty-Intra Day Chart (20-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 7894-7905
2- Down moves in Bullish Falling Channel 
3- Whole day actual trading between 7857-7905

Conclusions from intra day chart analysis

Although sharp down moves in previous week and crucial supports were also broken down but we told again and again for the requirement of broken down confirmation in all the Outlooks of previous week. As consolidation patterns were seen last Friday therefore strong rally  possibility was also told yesterday and Nifty closed 1.28% up today. 

Although firstly selling after huge gap up opening today but down moves in Bullish Falling Channel formation also seen therefore today started rally continuation hopes are alive because following multiple Supports below today lowest:-

1- 7816-7846
2- 7796-7827
3- 7724-7764

As following resistances are also lying at higher levels therefore follow up consolidation is must for rally continuation:-

1- 7900-7937 
2- 7955-7972 
3- 8012-8030

Last 14 sessions sideways trading between 7724-8030 with above above supports/resistances therefore Nifty will trade and prepare for next decisive moves within this range in the coming sessions. Sustaining below 7724 will be deeper correction confirmation and sustaining above 8030 will be strong indication of fresh rally after correction completion.

As Bullish Flag formation in last 26 sessions correction on EOD charts and lower levels supports were also seen in previous sessions therefore deeper correction is not expected and strong indication of fresh strong rally above all time high after consolidation/supports confirmations above 7724. 

As busy therefore Mid-session Outlooks are not being updated today.

Technical Analysis and Market Outlook(20-10-2014)

Nifty-Intra Day Chart (17-Oct-2014):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 7724-7819

Conclusions from intra day chart analysis

Although recovery from lower levels after consolidation patterns formations but selling patterns also seen at higher levels therefore mixed patterns formations and follow up trading positions will decide next decisive moves and should be firstly watched in next week for next decisive moves.

13 Sessions range(7796-8030) broken down forcefully on 16-10-2014 but sustaining below 7796 is must for deeper correction confirmation towards 200 Day EMA(today at 7253) but consolidation seen above 7724 therefore sustaining below 7796/7724 should be firstly watched in next week for deeper correction confirmation or its completion.

As Bullish Flag formation seen in last 25 sessions correction therefore deeper correction is not expected and once confirmation of sustaining above 7796/7724 will be a strong indication of fresh strong rally above all time high.