Intra Day Chart Analysis & Market 
Outlook(11-09-2015)

Nifty-Intra Day Chart (10-Sep-2015):-

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Technical Patterns and Formations in today intraday charts

1- Immediately after opening up moves in Bearish Rising Channel
2- Selling patterns formation between 7733-7775
3- 80 Points rally in last 40 Minutes after more than 180 points rally of Dow' Futures
4- Whole day actual trading between 7678-7819

Conclusions from intra day chart analysis 

When all the European markets are more than 1.75% up and Dow's Futures was also trading 180 points up then following lines were told yesterday at 06:32 PM in "Possibility of Fresh Down Moves after Selling Patterns Formations Today":-

1- emergence of fresh down moves signals today
2- view will not be Bullish despite such strong closing today
3- As selling patterns formations today therefore more possibility of slipping below today lowest(7786)

As was told 100% same happened and Nifty traded whole day in Red as well as closed 30 points down today.

Firstly 138 points down trading after huge gap down opening but also whole day up moves and closing after gaining more than 100 points from lower levels near the higher levels of the day today. 

As firstly up moves were in Bearish Rising Channel and selling patterns were also seen as well as last 80 Points rally was on the back of more than 180 points rally of Dow' Futures therefore view will not be Bullish despite today closing near the higher levels of the day.

Huge gap down opening was due to most Bearsh Asian markets and last 40 Minutes sharp 80 points surge was on the back of more than 180 points rally of Dow' Futures as well as consolidation patterns were also not seen therefore whole day trading of today will be understood Global cues affected and follow up moves within 7678-7881 will be firstly watched in the coming sessions for next decisive moves confirmations.

Correction is on and as such no consolidation yet therefore view will not be Bullish despite today closing near the higher levels of the day after more than 100 points recovery from lower levels.

Possibility of Fresh Down Moves after Selling Patterns Formations Today

Intra Day Chart Analysis & Market Outlook

(10-09-2015)

Nifty-Intra Day Chart (09-Sep-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns between 7822-7846
2- Selling patterns between 7823-7835
3- Up moves in Bearish Rising Channel
4- Whole day actual trading between 7786-7846

Conclusions from intra day chart analysis 

Although strong Global cues led gap up opening and 1.70% positive closing also but intraday patterns of today are showing selling patterns formations therefore emergence of fresh down moves signals today. Resistances before trading were as follows:-

1- 7788-7811(crossed today)
2- 7831-7846(trading within this range but closing below it today)
3- 7865-7881
4- 7894-7926
5- 7929-7948(Gap Resistance)

Although trading within 1st and 2nd resistances and closing within it as well but in strong global cues led heated sentiments and intraday consolidation patterns were not seen therefore view will not be Bullish despite such strong closing today

As all the European markets are more than 1.75% up and Dow's Futures is also trading 180 points up at this moment therefore if such Bullishness maintains in Asian markets also tomorrow then some up moves above today highest or trading within today trading range may be seen but decisive up moves will not be considered until Nifty will not sustain above 3rd resistance(7881) after complete consolidations.

Last 2 sessions rally will be considered only Pull Back Rally to fuse near about above mentioned resistances and valid break down of today lowest(7786) will be its termination confirmation and valid break out of 7786-7881 will be next decisive moves confirmation. 

As selling patterns formations today therefore more possibility of slipping below today lowest(7786).

Just watch last 3 sessions levels for next trend confirmations

Intra Day Charts Analysis & Market Outlook

(09-09-2015)

Nifty-Intra Day Chart (Sep 03 to Sep 08,2015):-

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Technical Patterns and Formations in last 4 Sessions intraday charts

1- Steep fall in first half hour on 04-09-2015
2- Almost last 6 hours trading belween 7680-7692 on 04-09-2015 
3- Slipping after most time sideways trading between 7680-7692 on 07-09-2015 
4- Strong rally after lower levels supports below 7680-7692 and closing within this range at 7688.25 on 08-09-2015  
5- Last 3 sessions most time trading between 7680-7692 

Conclusions from 4 Sessions intra day chart analysis 

Global cues led high volatility in last 3 sessions with most time trading between 7680-7692 and closing also within it today therefore finally sustaining it beyond should be watched in the coming sessions for:-

1- First strong signal- Valid break out of last 3 sessions most time trading range(7680-7692)
2- Final confirmation- 7539-7720

Correction is on and today intraday sharp up moves will be considered strong Global Cues led A Bounce Back only. Let Nifty sustain above 7720 then further Pull Back Rally will be seen otherewise once slipping below today lowest will mean further steep fall.

As technical positions reverses amid previous 3 sessions like such high volatility therefore above mentioned levels should be watched for next trend confirmations.

Finally correction continuation amid Bounce Back

Intra Day Chart Analysis & Market Outlook

(08-09-2015)

Nifty-Intra Day Chart (07-Sep-2015):-

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Technical Patterns and Formations in today intraday charts

1- 95 Points volatility in first 45 minutes.
2- More than 4 hours Mixed Patterns between 7618-7705.
3- Down moves in Bullish Falling Channel in last hours. 
4- Whole day actual trading between 7546-7705

Conclusions from intra day chart analysis 

High volatility immediately after opening and after that more than 4 hours trading with Mixed Patterns formations as well as last hours Down moves in Bullish Falling Channel also therefore it is clear that one sided technical positions formations was not seen today.

As correction is on therefore down moves were seen today but expected that Nifty will firstly trade within today trading range and prepare for next trend tomorrow. Although some signals of consolidation were seen today but not sufficient to suggest any decisive up move and only Bounce Back possibility will be considered within today trading range.

Expected that finally correction continuation will be seen after fresh selling within today trading range(7546-7705) but firstly some up moves/Bounce Back can not be ruled out within it.

Next Target of Nifty at 7104.30

Technical Analysis,Research & Weekly Outlook

(Sep 07 to Sep 11,2015)

Nifty-EOD Chart (04-Sep-2015):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015 and 'ABC' correction beginning)
7- Wave-A(7940.30 on 12-06-2015) 
8- Wave-B(8654.75 on 23-07-2015)
9- Wave-C continuation with recent bottom formation at 7626.85 on 04-09-2015 

Conclusions from EOD chart analysis 

That Wave-1 which started on 28-08-2013 from 5118.85 gained 4000 points and completed at 9119.20 on 04-03-2015 after many times new life times high formation and then that its 'ABC' correction started which is in continuation and no confirmation of its completion yet.

Fibonacci Retracement levels of on going ABC Correction

Nifty-EOD Chart (04-Sep-2015):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-5 completion at 9119.20 on 04-03-2015 and 'ABC' correction beginning
3- Wave-C continuation with recent bottom formation at 7626.85 on 04-09-2015
4- Crucial 38.2% retracement level is at 7590 which is just below recent bottom

Conclusions from EOD chart analysis 

ABC correction of 4000 points rally between 5118-9119 is on which will correct according to following Fibonacci Retracement levels:-

1- 13.0%- 8598
2- 23.6%- 8174
3- 27.0%- 8038
4- 38.2%- 7590(Crucial)
5- 50.0%- 7118(Crucial)
6- 61.8%- 6646(Crucial)
7- 70.0%- 6290
8- 76.4%- 6062
9- 78.6%- 5974 
10-88.6%- 5574 

Crucial 38.2% retracement level is at 7590 and Nifty has corrected up to 7626.85 which is just above it. Now correction is very much on and once sustaining below 7590 will mean high possibility of correction continuation towards next 50% crucial retracement level(7118)  

Waves structure of 'ABC' correction

Nifty-EOD Chart (04-Sep-2015):-

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Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
2- Wave-1 of Wave-A(8269.15 on 27-03-2015)
3- Wave-2 of Wave-A(8844.40 on 15-04-2015)
4- Wave-3 of Wave-A(7997.15 on 07-05-2015)
5- Wave-4 of Wave-A(8489.55 on 22-05-2015)
6- Wave-5 of corrective Wave-A completion(7940.30 on 12-06-2015)
7- Wave-B completion and corrective Wave-C beginning(8654.75 on 23-07-2015)
8- Wave-1 of Wave-C(7667.25 on 25-08-2015)
9- Wave-2 of Wave-C(8091.80 on 28-08-2015)
10- Wave-3 of Wave-C continuation with recent bottom formation at 7626.85 on 04-09-2015 

Conclusions from EOD chart analysis

Corrective Wave-3 of Wave-C is on and no indication of its completion yet therefore its continuation is expected in the coming sessions.

Conclusions (After Putting All Studies Together)

All trends are down and Indian markets are in stiff grip of Bears as well as high possibility of correction continuation towards 7104.30.

Calculations of next target of Nifty at 7104.30

Wave-1 of Wave-C corrected 987.50 Points(8654.75-7667.25) and now Wave-3 of Wave-C continuation which has already retraced 464.95 Points till previous trading session. If Wave-3 of Wave-C corrects 100% of Wave-1 of Wave-C then it may move down up to:- 

7104.30=8091.80(Wave-2 of Wave-C completed and Wave-3 of Wave-C started)-987.50(Wave-1 of Wave-C corrected)

As 50% retracement level is at 7118 which is just above 7104.30 therefore Nifty slipping towards 7104.30 can not be ruled in on going correction but in the mean time Bounce Back and Pull Back Rally may also be seen after Short Term Indicators moving into Over Sold Zone. 

Firstly Watch 3 Resistances for the Life of Today started Pull Back Rally

Intra Day Chart Analysis & Market Outlook

(04-09-2015)

Nifty-Intra Day Chart (03-Sep-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 7788-7811
2- Up moves beginning after strong opening of European markets at 12:30 PM
3- Down moves in Bullish Falling Channel at higher levels of the day
4- Whole day actual trading between 7754-7845

Conclusions from intra day chart analysis 

Although some down moves after more than 2 hours selling but fast recovery from lower levels after strong opening of European markets at 12:30 PM therefore today rally will be understood on the back of positive Global cues. As consolidation was also seen at higher levels of the day through Down moves in Bullish Falling Channel patterns therefore today started Pull Back Rally continuation will be seen tomorrow.

Following immediate resistances are lying above today highest:-

1- 7865-7881
2- 7894-7926
3- 7929-7948(Gap Resistance)

Now only Global cues driven rally will be understood and trend reversal will be considered only after sustaining above mentioned resistances. Failing to cross or sustaining above will mean correction continuation below on going correction lowest(7667)

Firstly valid break out of mentioned 3 resistances should be watched in the coming sessions for today started Pull Back Rally continuation or completion.

Finally Correction Continuation amid a Bounce Back Possibility

Intra Day Chart Analysis & Market Outlook

(03-09-2015)

Nifty-Intra Day Chart (02-Sep-2015):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 7816-7842
2- Selling between 7788-7807
3- Selling between 7738-7768
4- All the Down moves in Bullish Falling Channel 
5- Whole day actual trading between 7700-7842

Conclusions from intra day chart analysis 

As positive sentiment due to following developments therefore some up moves after Green opening today:-

1- Government accepts AP Shah Panel report on MAT and no levy on FIIs prior to April 1, 2015 
2- Dow's Futures was trading more than 120 points up

Although continuous selling after every dip but all the Down moves in Bullish Falling Channel and all the Nifty Put Options below 7800 closing in Red despite .88% down closing of Nifty at 7717 today therefore view will be cautious and follow up moves will be firstly watched tomorrow for next decisive moves confirmations.

As all the Down moves were in Bullish Falling Channel and all the Nifty Put Options below 7800 closed in Red also today therefore a Bounce Back possibility can not be ruled out but finally correction continuation is expected because as such no signal of its completion yet.

As busy therefore Stock Market Outlook of today is not being updated.

Signals of Fresh Down Moves

Intra Day Chart Analysis & Market Outlook

(01-09-2015)

Nifty-Intra Day Chart (31-Aug-2015):-

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Technical Patterns and Formations in today intraday charts

1- Support between 7955-7975
2- selling between 8015-8028
3- Up moves in Bearish Rising Channels
4- High intraday volatility
5- Whole day actual trading between 7948-8043

Conclusions from intra day chart analysis 

As most Asian were trading in Red and Dow's Futures was also more than 200 points down today morning therefore weak opening of Indian markets and high volatility in accordance to Global cues today. 

Although up moves after minor supports in first hour but higher levels selling with up moves in Bearish Rising Channel in last hours also therefore signals of fresh down moves in the coming sessions. As Global cues led high volatility today and technical positions reverses during such high volatility therefore firstly valid break down of today lowest(7947.95) should be watched tomorrow for deeper correction confirmations.

Next Trend Confirmations through Crucial Levels amid Global Cues led Huge Volatility

Technical Analysis,Research & Weekly Outlook

(Aug 31 to Sep 4,2015)

Nifty-EOD Chart (28-Aug-2015):-

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Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015 and 'ABC' correction beginning)
7- Wave-A(7940.30 on 12-06-2015) 
8- Wave-B(8654.75 on 23-07-2015)
9- Wave-C continuation with recent bottom formation at 7667.25 on 25-08-2015
10- Now Pull Back rally is on with recent top formation at 8091.80 on 28-08-2015  

Conclusions from EOD chart analysis 

That Wave-1 which started on 28-08-2013 from 5118.85 completed at 9119.20 on 04-03-2015 and after that its 'ABC' correction started which is in continuation and no confirmation of its completion yet despite now Pull Back rally is on with recent top formation at 8091.80 on 28-08-2015.

Waves structure of 'ABC' correction

Nifty-EOD Chart (28-Aug-2015):-

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Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and Wave-A of 'ABC' correction beginning after life time high formation)
2- Wave-1(8269.15 on 27-03-2015)
3- Wave-2(8844.40 on 15-04-2015)
4- Wave-3(7997.15 on 07-05-2015)
5- Wave-4(8489.55 on 22-05-2015)
6- Wave-5 and corrective Wave-A completion(7940.30 on 12-06-2015)
4- Wave-B(8654.75 on 23-07-2015)
6- Wave-C continuation with recent bottom formation at 7667.25 on 25-08-2015
7- Now Pull Back rally is on with recent top formation at 8091.80 on 28-08-2015  

Conclusions from EOD chart analysis 

Wave-A of 'ABC' correction beginning after life time high formation at 9119.20 on 04-03-2015 which completed after its 5 sub waves formations at 7940.30 on 12-06-2015. Wave-C is in continuation with recent bottom formation at 7667.25 on 25-08-2015 after completion of Wave-B at 8654.75 on 23-07-2015. 

Now Pull Back rally is on with recent top formation at 8091.80 on 28-08-2015 and no confirmation of its completion yet.

Next target of Nifty at 7475.85

Nifty-EOD Chart (28-Aug-2015):-

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Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and 'ABC' correction beginning after life time high formation)
2- Wave-A(7940.30 on 12-06-2015) 
3- Wave-A corrected 1178.90 Points
4- Wave-B(8654.75 on 23-07-2015)
5- Wave-C continuation with recent bottom formation at 7667.25 on 25-08-2015
6- Wave-C has corrected 987.50 Points till today
7- Now Pull Back rally is on with recent top formation at 8091.80 on 28-08-2015  
8- Long Term Trend decider decider 200 Day EMA(today at 8272) broken down on 21-08-2015 and last 5 sessions closing below it. 

Conclusions from EOD chart analysis

Wave-A corrected 1178.90 Points and now Wave-C continuation which has retraced 987.50 Points till today. If Wave-C corrects 100% of Wave-A then it may move down upto:- 

7475.85=8654.75(Wave-B completed and Wave-C started)-1178.90(Wave-A corrected)

Wave-C of 'ABC' correction is in continuation and let market completely consolidate on EOD/weekly charts then its completion will be considered,till then its continuation will be seen according to retracement levels which are being given below.. 

Last 6 Sessions Intra Day Charts Analysis

Nifty-Intra Day Chart (Aug 21 to Aug 28,2015):-

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Technical Patterns and Formations in last 6 Sessions intraday charts

1- 164 Points gap(8061-8225) down opening on 24-08-2015 after Global markets crashing.
2- Selling between 7897-7930 on 24-08-2015
3- Selling between 7995-8010 on 24-08-2015
4- Selling between 8032-8055 on 24-08-2015 
5- Support at lower levels amid high volatility on 25-08-2015
6- Global cues led high volatility on 26-08-2015 
7- Whole day strong rally on 27-08-2015 after 619 points strong rally of Dow Jones 
8- Trading within 164 Points gap but closing below it on 28-08-2015 with selling patterns formation between 8066-8091  
9- 6 Sessions actual trading between 7668-8091 

Conclusions from 6 Sessions intra day chart analysis 

As all the Global markets were crashing therefore firstly 164 Points gap(8061-8225) down opening and after that selling between 3 following ranges on 24-08-2015:-

1- 7897-7930
2- 7995-8010
3- 8032-8055

Trading patterns of last 5 sessions are as follows:-

1- First 4 sessions most time trading below the gaps 
2- Trading within and below the gap on 28-08-2015

Although Nifty traded 4 hours above the top(8055) of above 3 selling ranges after strong gap up opening but closed within these ranges at 8001.95 on 28-08-2015 therefore it will be understood that these selling ranges have not cleared yet.

Certainly Global cues led huge volatility in all the last 5 sessions of previous week between 7668-8091 with lower levels supports and higher levels good selling therefore Nifty will firstly trade and prepare for next decisive moves within this range in the beginning of next week and finally sustaining it beyond will decide next trend. As crucial therefore following levels should also be watched:-

1- Higher levels selling between 7897-8091 in previous week and this range break out will give first strong indication of next trend.
2- 164 Points gap between 8061-8225 formed on 24-08-2015 but trading within this gap on 28-08-2015,finally sustaining beyond this gap will decide the life of on going correction

Intra Day Chart Analysis(31-08-2015)

Nifty-Intra Day Chart (28-Aug-2015):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Selling patterns formation between 8066-8091(Immediate Resistances)
3- Down moves in Bullish Falling Channel
4- 5 Waves of Bullish Falling Wedge formations in last hours
5- Whole day actual trading between 7962-8091

Conclusions from intra day chart analysis 

As all the Asian markets were trading with good gains after strong closing of US markets yesterday therefore gap up opening in Indian markets but emergence of following Bearish cues immediate after opening today:-

1- Indian markets under performed Asian markets despite more than 1% positive trading.
2- First hour up moves in Bearish Rising Channel   
3- Selling patterns formation at higher levels

Although slipping after selling patterns formation till 01:00 PM and new intraday lowest formations as well but with Bullish patterns formations in following manner:-

1- Down moves in Bullish Falling Channel 
2- Bullish Falling Wedge formations

As both consolidation and distribution patterns formations between 7962-8091 today therefore finally sustaining beyond this range will give next decisive first strong indication.

Conclusions (After Putting All Studies Together)

As all the Global markets badly crashed in the beginning of previous week therefore all the supports levels broken down and Long Term Trend turning down confirmation also through last 5 sessions closing below it decider 200 Day EMA(today at 8272). Now Pull Back rally is on with recent top formation at 8091.80 on 28-08-2015 and until it will not sustain above Long Term Trend decider 200 Day EMA till then corrective Wave-C completion will not be considered.

Extremely high volatility in all the Global markets in previous week therefore Indian markets were also equally volatile and closed near the higher levels of the week with Bullish Hammer weekly Candle formation therefore view will be cautious and valid break out of previous week trading range(7668-8091) must be firstly watched for the confirmation of next trend.

That rally which started on 28-08-2013 from 5118.85 completed at 9119.20 on 04-03-2015 and after that its 'ABC' correction started which is now in continuation. Fibonacci Retracement levels of rally between 5118.85-9119.20 are as follows:-

1- 13.0%- 8598(Retraced)
2- 23.6%- 8174(Retraced)
3- 27.0%- 8038(Retraced)
4- 38.2%- 7590(Crucial)
5- 50.0%- 7118(Crucial)
6- 61.8%- 6646(Crucial)
7- 70.0%- 6290
8- 76.4%- 6062
8- 78.6%- 5974
10-88.6%- 5574

Following next resistances of Wave-C are lying above last Friday closing:-

1- 8032-8055
2- 8061-8225(Gap Resistance)
3- 8239-8318
4- 8480-8526(Strong Multiple Resistances)
5- 8605-8656(Strong Multiple Resistances)

Wave-C of 'ABC' correction is in continuation with recent bottom formation at 7667.25 on 25-08-2015 towards its target at 7475.85 and no confirmation of its completion yet therefore posibility of correction continuation can not be rued out. As now Pull Back rally is on and Bullish Hammer weekly Candle formation in previous week therefore following levels should be firstly watched in next week for correction completion confirmations:-

1- Sustaining above previous week selling ranges(7897-8091) is firstly required for Wave-C correction completion first strong indication.
2- Sustaining above 164 Points gap formed on 24-08-2015(8061-8225) is must for Wave-C correction completion.
3- Sustaining above Long Term Trend decider 200 Day EMA(today at 8272) is also must for Wave-C correction completion. 

As Global cues led huge volatility is last 6 sessions with mixed technical positions formations and crucial levels are lying within 7668-8272 therefore firstly sustaining it beyond should be watched in next week/weeks for next trend confirmations.

Rally continuation amid Blasting Global Markets Rally

Intra Day Chart Analysis & Market Outlook

(28-08-2015)

Nifty-Intra Day Chart (27-Aug-2015):-

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Technical Patterns and Formations in today intraday charts

1- Support between 7863-7880(Immediate Supports)
2- Support between 7889-7900(Immediate Supports)
3- Consolidation between 7924-7963 in last 2 hours
4- Whole day actual trading between 7863-7963

Conclusions from intra day chart analysis 

As Dow Jones closed 619 points up yesterday therefore all blast in all the Asian markets which closed 1% to 5% today and all the European markets also opened gap up resultant strong rally was seen in Indian markets today. Lower levels supports and higher consolidation between 7924-7963 in last 2 hours was also seen today therefore expected that today started rally will remain continued in the coming sessions. Following next resistances are lying above today highest:-

1- 7995-8010
2- 8032-8055
3- 8061-8225(Gap Resistance)
4- 8239-8318
5- 8480-8526(Strong Multiple Resistances)
6- 8605-8656(Strong Multiple Resistances)

Although gap resistance above 8055 but once sustaining above it may result strong rally within this range because that will be confirmation of lower levels consolidation between 7668-8055 amid Global cues led most bearish sentiments.

Sharp fall from 20 Aug to 24 Aug after huge down moves in all the Global markets and now rally continuation after beginning of Global markets blasting rally. Let follow up selling develop and Nifty to face resistances below above mentioned resistances then on going rally completion will be considered.

Failing to sustain above next 1st resistance range will mean sharp down

Pre-open Outlook(27-08-2015)

As all the Asian markets are up from 1% to 2.5% up today after 619 points strong rally of Dow Jones yesterday therefore more than 1% up opening will be seen in Indian markets also. Following immediate resistances are lying at higher levels:-

1- 7897-7930
2- 7995-8010
3- 8032-8055

Multiple resistances are lying above 7900 therefore high volatility will be seen after strong opening and if Nifty fails to sustain above next 1st resistance range(7897-7930) then sharp down moves will be seen.

Correction Continuation Expectations

Intra Day Chart Analysis & Market Outlook

(27-08-2015)

Nifty-Intra Day Chart (26-Aug-2015):-

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Technical Patterns and Formations in today intraday charts

1- Strong 140 points recovery after weak opening.
2- Minor selling between 7897-7930(Immediate Resistances)
3- Mixed Patterns between 7835-7900
4- Down moves in last hour.
5- Whole day actual trading between 7778-7930

Conclusions from intra day chart analysis 

High volatility in following manner today:-

1- 140 points up moves in first 2 hours
2- 152 Points down moves from higher levels and closing near the lower levels of the day after new intraday lowest formation in last minutes

Although closing at the lower levels of the day but as such good selling was not seen and mixed Patterns formations was also seen almost 3 hours therefore follow up selling is required tomorrow for decisive down moves below today lowest because high intraday volatility today and technical positions reverses also in Global cues led such volatility.

As good selling in previous weeks and on last Monday therefore correction continuation is expected tomorrow because as such consolidation not seen and some selling at higher levels today also.

Correction Continuation

Intra Day Chart Analysis & Market Outlook

(26-08-2015)

Nifty-Intra Day Chart (25-Aug-2015):-

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Technical Patterns and Formations in today intraday charts

1- Positive opening after strong Asian markets and Dow's Futures
2- Down moves after Hang Seng,Nikkei 225 and Dow's Futures slipping in Mid Session
3- Up moves after Hang Seng and Dow's Futures strong recovery and strong opening of European markets.
4- Whole day actual trading between 7668-7925

Conclusions from intra day chart analysis 

Whole day only Global markets led high volatility and as such no technical position formations to suggest any side decisive moves. Although Nifty closed 0.92% up at the higher levels of the day but due to European markets strong trading and Dow's Futures trading more than 500 points up therefore until Nifty will not sustain above today highest till then next rally will not be considered.

Immediate resistances of Nifty are as follows:-

1- 7995-8010
2- 8032-8055
3- 8061-8225(Gap Resistance)

Nifty require complete consolidation for crossing above resistances,let it happen then correction completion will be considered otherwise correction continuation will be seen within today trading range and high possibility of slipping below today lowest(7668).

Nifty target at 7475.85 after China Panic and FOMC minutes led Global Markets Bloodbath

Technical Analysis and Market Outlook

(25-08-2015)

Nifty-EOD Chart (24-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015 and 'ABC' correction beginning)
7- Wave-A(7940.30 on 12-06-2015) 
8- Wave-B(8654.75 on 23-07-2015)
9- Wave-C continuation with recent bottom formation at 7769.40 on 24-08-2015

Nifty-EOD Chart (24-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Wave-5 completion at 9119.20 on 04-03-2015 and 'ABC' correction beginning after life time high formation)
2- Wave-A(7940.30 on 12-06-2015) 
3- Wave-A corrected 1178.90 Points
4- Wave-B(8654.75 on 23-07-2015)
5- Wave-B has corrected 985.35 Points till today
6- Wave-C continuation with recent bottom formation at 7769.40 on 24-08-2015

Conclusions from EOD charts analysis 

Just click following topic link and go through detailed analysis of Nifty which was updated for current week on 22-08-2015:-

Crashing all Global markets require deeper correction confirmation from 8316/8226

As China currency(Yuan) surprise devaluation therefore panic in all Global financial markets and Minutes from the FOMC Reserve's last policy meeting on 19-08-2015 also showed that the central bank was "approaching" its rate hike therefore down moves started in all the Global markets in previous week. Finally Dow Jones 531.14 crashing last Friday triggered panic in all the Global markets today morning and resultant:-

1- All the Asian markets started to crash immediately after opening and most of them closed 4% to 8% down.
2- Dow's Futures also traded more than 400 points down.
3- Most European markets traded more than 3% down immediately after opening. 

As such Global markets crash therefore whole day down moves after huge gap down opening was seen in Indian markets today and all the trends turned down after forcefully slipping below Long Term Trend decider decider 200 Day EMA(last Friday at 8292) 

That rally which started on 28-08-2013 from 5118.85 completed at 9119.20 on 04-03-2015 and after that its 'ABC' correction started which is now in continuation. Fibonacci Retracement levels of rally between 5118.85-9119.20 are as follows:-

1- 13.0%- 8598(Retraced)
2- 23.6%- 8174(Retraced)
3- 27.0%- 8038(Retraced)
4- 38.2%- 7590(Crucial)
5- 50.0%- 7118(Crucial)
6- 61.8%- 6646(Crucial)
7- 70.0%- 6290
8- 76.4%- 6062
8- 78.6%- 5974
10-88.6%- 5574

Calculation of next target of Nifty at 7475.85:-

Wave-A corrected 1178.90 Points and now Wave-C continuation which has retraced 985.35 Points till today. If Wave-C corrects 100% of Wave-A then it may move down upto:- 

7475.85=8654.75(Wave-B completed and Wave-C started)-1178.90(Wave-A corrected)

Now Wave-C of 'ABC' correction is in continuation and let market completely consolidate on EOD/weekly charts then its completion will be considered,till then its continuation will be seen according to above mentioned retracement levels. 

As Short Term indicators have turned oversold and selling markets remains highly volatile also therefore a strong Pull Back Rally can not be ruled out any day but finally correction continuation towards next target(7475.85) will be seen. 

Crashing all Global markets require deeper correction confirmation from 8316/8226 

Technical Analysis,Research & Weekly Outlook

(Aug 24 to Aug 28,2015)

Nifty-EOD Chart (21-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015 and 5 Waves correction beginning)
7- Wave-1(8269.15 on 27-03-2015)
8- Wave-2(8844.40 on 15-04-2015)
9- Wave-3(7997.15 on 07-05-2015)
10- Wave-4(8489.55 on 22-05-2015)
11- Wave-5(7940.30 on 12-06-2015 completion and impulsive Wave-i beginning after 5 Waves correction completion) 
12- Wave-i(8654.75 on 23-07-2015)
13- Wave-ii continuation with recent bottom formation at 8225.05 on 21-08-2015
14- 37 Sessions sideways trading range between 8316-8654 broken down on 21-08-2015 

Conclusions from EOD chart analysis 

That Wave-1 which started on 28-08-2013 from 5118.85 completed at 9119.20 on 04-03-2015 and after that its 5 waves correction started. Wave-5 of correction completed at 7940.30 on 12-06-2015 and Wave-i started after 5 waves correction completion.Now corrective Wave-ii continuation with recent bottom formation at 8225.05 on 21-08-2015 

37 sessions sideways trading was seen between 8316-8654 from 01-07-2015 to 20-08-2015 and this range was broken down on 21-08-2015 after Global markets crashing line situation. As only one day slipping below 8316 and previous week closing is also just below it at 8299.95 therefore technically no broken down confirmation but if Nifty will sustain 8316 in next week then on going waves structure will be recalculated and 'ABC' correction will be considered according to following waves patterns.

'ABC' Waves correction

Nifty-EOD Chart (21-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 5118.85 on 28-08-2013(Wave-1 beginning after 'ABC' correction completion)
2- Wave-1(6415.25 on 09-12-2013)
3- Wave-2(5933.30 on 04-02-2014)
4- Wave-3(8626.95 on 04-12-2014)
5- Wave-4(7961.35 on 17-12-2014)
6- Wave-5(9119.20 on 04-03-2015 and 'ABC' correction beginning)
7- Wave-A(7940.30 on 12-06-2015) 
8- Wave-B(8654.75 on 23-07-2015)
9- Wave-C continuation with recent bottom formation at 8225.05 on 21-08-2015
10- 37 Sessions sideways trading range between 8316-8654 broken down on 21-08-2015 
11- Long Term Trend decider decider 200 Day EMA(today at 8292) broken down but closing above it at 8299.95 on 21-08-2015 

Conclusions from EOD chart analysis 

Finally sustaining below 8316 will mean 'ABC' corrective waves structure confirmation which will confirm Wave-C continuation for fresh down moves below Wave-A(7940.30).

Firstly sustaining below 8316 should be watched in next week and once sustaining below it will mean much deeper correction. 

37 Sessions trading range broken down

Nifty-EOD Chart (21-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 7940.30 on 12-06-2015(Fresh Wave-i beginning after 5 Waves correction completion) 
2- Wave-i(8654.75 on 23-07-2015)
3- Correction continuation with recent bottom formation at 8225.05 on 21-08-2015
4- 37 Sessions sideways trading between 8316-8654 from 01-07-2015 to 20-08-2015
5- 37 Sessions trading range broken down and closing below it at 8299.95 on 21-08-2015

Conclusions from EOD chart analysis 

37 Sessions sideways trading between 8316-8654 from 01-07-2015 to 20-08-2015 and this range was broken down on 21-08-2015 but closing below this range at 8299.95 yesterday. As sustaining below 37 Sessions lowest(8316) will mean much deeper correction therefore should be firstly watched in the coming sessions.

Bearish Head and Shoulders Pattern formations

Nifty-EOD Chart (21-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 7940.30 on 12-06-2015(Fresh Wave-i beginning after 5 Waves correction completion) 
2- Wave-i(8654.75 on 23-07-2015)
3- Correction continuation with recent bottom formation at 8225.05 on 21-08-2015
4- Bearish Head and Shoulders Pattern formations with its neckline at 8321.75
5- Neckline broken down and closing below it at 8299.95 on 21-08-2015

Conclusions from EOD chart analysis 

37 Sessions sideways market with Bearish Head and Shoulders Pattern formations and its neckline at 8321.75 was broken down on 21-08-2015 but closing below this range at 8299.95 yesterday. 

As valid break down of neckline(8321.75) will be deeper correction confirmation therefore should be firstly watched in next week for confirmations. 

Symmetrical triangle continuation pattern formations

Nifty-EOD Chart (21-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 7940.30 on 12-06-2015(Fresh Wave-i beginning after 5 Waves correction completion) 
2- Wave-i(8654.75 on 23-07-2015)
3- Correction continuation with recent bottom formation at 8225.05 on 21-08-2015
4- Symmetrical triangle continuation pattern formations
5- Lower rising line of triangle broken down and closing below it at 8299.95 on 21-08-2015

Conclusions from EOD chart analysis 

37 Sessions sideways market with Symmetrical triangle continuation pattern formations which is suggesting that on going Bullish trend will remain continued because it is a continuation pattern but confirmation is must through valid break out of its upward falling line.

As lower rising line of triangle broken down and closing below it at 8299.95 on 21-08-2015 therefore firstly sustaining beyond this line should be firstly watched because that will be valid break out which will be confirmation of pattern validity.

Micro Analysis of 38 Sessions Intra Day Chart

Nifty-Intra Day Chart (Jul 01 to Aug 21,2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 38 Sessions intraday charts

1- 37 Sessions trading between 8316-8654
2- Selling at higher levels below 8654
3- Supports at lower levels above 8316
3- 37 Sessions trading range broken down on 21-08-2015

Conclusions from 38 Sessions intra day chart analysis 

37 Sessions sideways trading between 8316-8654 from 01-07-2015 to 20-08-2015 with lower levels supports and higher levels selling but all the Global markets started to crash after the release of minutes from the FOMC Reserve's last policy meeting therefore Indian markets crashed in last 2 sessions and Nifty closed just below the lowest of last 37 sessions on 21-08-2015.

As sustaining below 37 Sessions lowest(8316) will mean much deeper correction therefore should be firstly watched in the coming sessions.

Intra Day Chart Analysis & Market Outlook(24-08-2015)

Nifty-Intra Day Chart (21-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Consolidation between 8226-8251(Immediate Supports)
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Whole day actual trading between 8226-8322

Conclusions from intra day chart analysis 

As crashing all Global markets therefore sharp down immediately after gap down opening but up moves lower levels were also seen after some lower levels consolidation. Although some down moves in Bullish Falling Channel in the Mid Session but up moves also in Bearish Rising Channel in last hours therefore follow up consolidation is firstly required for rally above today highest. Although crashing like situation in all the Global markets but some supports were also seen at lower levels therefore follow up selling is also required for decisive down moves below the lowest of the day(8226)

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Long Term Trend is up
2- Intermediate Term Trend is sideways
3- Short Term Trend is down

37 Sessions sideways trading between 8316-8654 from 01-07-2015 to 20-08-2015 with both following Bearish and Bullish patterns formations:-

1- Bearish Head and Shoulders Pattern formations
2- Symmetrical triangle continuation pattern formations

All the Global markets started to crash after the release of minutes from the FOMC Reserve's last policy meeting therefore Indian markets also tumbled in last 2 sessions as well as Nifty closed just below the lowest of last 37 sessions on 21-08-2015. As 37 sessions trading range broken down was the reaction of crashing Global markets therefore confirmation through sustaining below 37 sessions lowest(8316) is must for decisive deeper correction confirmations. 

Dow Jones closed 531.14 down last Friday and if Asian markets also react this US markets crash next Monday then Indian markets may also open in deep Red. As some consolidation was seen above 8226 last Friday therefore firstly sustaining it below should be watched next Monday for much deeper correction which will be below 7940.30.

As crashing all Global markets therefore finally sustaining below 37 sessions lowest(8316) and Last Friday lowest(8226) will be confirmation of much deeper correction therefore should be firstly watched in next week.

Much deeper correction after sustaining below 8316

Technical Analysis and Market Outlook

(21-08-2015)

Nifty-EOD Chart (20-Aug-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 7940.30 on 12-06-2015(Fresh Wave-i beginning after 5 Waves correction completion) 
2- Wave-i(8654.75 on 23-07-2015)
3- Wave-ii(8321.75 on 28-07-2015)
4- 37 Sessions trading between 8316-8654

Conclusions from EOD chart analysis 

Sideways market between 8316-8654 for the last 37 sessions with higher levels good selling below 8654 and lower levels good consolidation also above 8316. As today closing is above 8316 at 8372.75 after sharp fall today therefore still Nifty will be understood sideways within mentioned range.

As all the Global markets were crashing after the release of minutes from the FOMC Reserve's last policy meeting therefore in reaction sharp fall was seen in Indian markets also. Today lowest and closing are above 37 sessions lowest(8316) therefore sideways market is still intact and firstly sustaining beyond 8316 should be watched tomorrow for next decisive moves confirmations and should also be kept in mind that much deeper correction will be seen after sustaining below 8316.

Firstly watch crucial levels for next trend confirmations after FOMC minutes release

Pre-open Outlook(20-08-2015)

As Dow Jones closed 162 points down yesterday after minutes from the FOMC Reserve's last policy meeting which showed that the central bank was "approaching" its first rate hike in nearly a decade therefore all the Asian markets are trading negative and some are more than 1% down resultant weakness will be seen in Indian markets also.

Last 3 sessions trading between 8429-8531 with lower levels consolidation therefore valid break down of 8429 will be first signal of next trend after FOMC minutes and final confirmation will be according to sustaining beyond 36 sessions trading range(8316-8654).

Firstly above mentioned crucial levels should be watched after FOMC minutes release for next trend confirmations.