Emergence of Fresh Up Moves Expectations

Intra Day Chart Analysis & Market Outlook

(16-09-2016)

Nifty-Intra Day Chart (15-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8730-8745
2- Consolidation between 8705-8724
3- Mixed Patterns formations in last hour between 8729-8740
4- Whole day actual trading between 8705-8751

Conclusions from intra day chart analysis 

Although slipping after first hour selling but lower levels good consolidation also between 8705-8724 therefore recovery from lower levels and closing near the higher levels of the day. As Mixed Patterns formations in last hour also therefore follow up consolidation is firstly required for decisive up moves above today highest(8751)

Selling below 8746 last Monday and lower levels supports above 8689 in last 2 sessions therefore emergence of fresh up moves expectations above 8751 and once sustaining above it will mean strong signal of 7th Sep started correction completion at 8689 and fresh rally beginning towards 8968.

As next FOMC led Global markets high volatility and rates hike news led uncertainty also therefore confirmation is firstly required through sustaining above last 3 sessions highest(8751)

Firstly Watch 8689-8746 for next Trend Confirmations

Intra Day Chart Analysis & Market Outlook

(15-09-2016)

Nifty-Intra Day Chart (14-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8725-8736
2- Support between 8689-8712
3- Up moves in Bearish Rising Channel
4- Whole day actual trading between 8689-8739

Conclusions from intra day chart analysis 

Although selling immediately after opening and Up moves in Bearish Rising Channels also but lower levels good supports were also seen therefore today closing near the higher levels of the day. As selling was seen below 8746 last Monday and supports above 8689 today therefore firstly sustaining beyond 8689-8746 should be watched for next trend confirmations for:-

1- Strong signal of on going correction completion above 8746.
2- Correction continuation towards 8544 below 8689.

As busy therefore Stock Market Outlook of today is not being updated but Mid-session Outlook may be posted during trading hours.

Firstly Watch Next Strong Supports after Gap Down Opening

Intra Day Chart Analysis & Market Outlook

(12-09-2016)

Nifty-Intra Day Chart (09-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8900-8922
2- Support between 8863-8888
3- Down moves in Bullish Falling Channel in last hour
4- Whole day actual trading between 8859-8922

Conclusions from intra day chart analysis 

Following lines were told at 12:05 AM on 08-09-2016 in "Very Short Term Down Moves Expectations":-

clear Selling patterns formation also between 8935-8956 therefore Very Short Term down moves are expected in the coming sessions.

Following lines were told at 08:20 PM on 08-09-2016 in "Very Short Term Correction Expectations":-

Very Short Term correction is still expected in the coming sessions despite today closing near the higher levels of the day today.  

Only Down Moves and Correction was told in  last 2 Outlooks which proved 100% accurate last Friday through Nifty slipping 38 points in first minute and closing 85 points down also after whole day negative zone trading.

Firstly selling after weak opening and after that sharp fall as well but lower levels some supports and last hour Down moves in Bullish Falling Channel therefore day's intraday patterns will be understood Mixed. As both intraday selling and consolidation patterns formations last Friday therefore sustaining beyond day's actual trading range(8859-8922) should be firstly watched in the coming week for next decisive moves.

As US markets closed in deep Red last Friday therefore huge gap down opening may be seen next Monday but next strong supports are lying between 8768-8818 which will decide the fate of last Friday started correction.

Very Short Term Correction Expectations

Intra Day Chart Analysis & Market Outlook

(09-09-2016)

Nifty-Intra Day Chart (08-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Whole day Up moves in Bearish Rising Channel
2- Whole day actual trading between 8896-8960

Conclusions from intra day chart analysis 

Although whole day up moves after more than 1 hour negative zone trading but in Bearish Rising Channel therefore  Very Short Term correction is still expected in the coming sessions despite today closing near the higher levels of the day today. 

Very Short Term Down Moves Expectations

Intra Day Chart Analysis & Market Outlook

(08-09-2016)

Nifty-Intra Day Chart (07-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Whole day actual trading between 8914-8968
2- Selling patterns formation between 8935-8956

Conclusions from intra day chart analysis 

Although positive opening but not sustaining at highet levels and slipping fast in first 30 minutes and clear Selling patterns formation also between 8935-8956 therefore Very Short Term down moves are expected in the coming sessions.

Intra Day Chart Analysis & Market 
Outlook(07-09-2016)

Nifty-Intra Day Chart (06-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- First 4 hours slow up moves
2- Fast Up  moves in last hours
3- Whole day actual trading between 8849-8950

Conclusions from intra day chart analysis 

Firstly more than 40 points gap up opening and after that slow up moves which may be a selling indication but after that fast Up  moves also in last hours therefore as such no one sided intraday position formations today. 

As complete selling was not seen and whole day strong rally continuation therefore more up moves can not be ruled out in the coming sessions because strong rally is on and as such no intraday selling yet.

It must be kept in mind that until clear and complete fresh selling patterns formations will not develop till then correction will not be seen,let it happen then correction beginning will be considered despite overbought indicators.

8824 will confirm Rally Continuation towards 9764.10 

Technical Analysis,Research & Weekly Outlook

(Sep 06 to Sep 09,2016)

Nifty-EOD Chart (02-Sep-2016):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning after bottom formation at 6825.80 on 29-02-2016
2- Wave-1(7992 on 28-04-2016)
3- Wave-2(7678.35 on 06-05-2016)
4- Wave-i of Wave-3(8294.95 on 07-06-2016)
5- Wave-ii of Wave-3(7927.05 on 24-06-2016)
6- Wave-iii of Wave-3 continuation with recent top formation at 8824.10 on 02-09-2016)

Intra Day Chart Analysis(02-09-2016)

Nifty-Intra Day Chart (02-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8769-8787
2- Mixed Patterns formations in last hours between 8805-8824 
3- Whole day actual trading between 8769-8824

Conclusions from intra day chart analysis 

Following lines were told at 10:08 AM on 02-09-2016 in "Post-open Outlook(02-09-2016)":-

1- some indications of consolidation in first 50 minutes today
2- therefore sustaining below yesterday lowest(8760) should be firstly watched for fresh down moves.

Firstly some indications of consolidation in first 50 minutes and after that follow up consolidation between 8769-8787 therefore it will be immediate support of Nifty and until Nifty will not sustain below 8760 after fresh selling till then decisive down moves will not be seen.  

Conclusions (After Putting All Studies Together)

Following lines were told on 16-08-2016 in "Valid break out last 18 sessions sideways trading range will confirm next trend":-

Nifty should not move above 8810.80 otherwise Waves will be counted in that manner which has been updated in previously Weekly Analysis topics. 

As Nifty had moved above 8810.80 in previous week therefore Waves of Post Budget 1916-1917 Rally is being counted in above mentioned manner because that will be applicable now.

Nifty traded 28 sessions between 8518-8728 and this range was broken out 30-08-2016 as well as closed above it in all 3 sessions after that therefore all trends are up. Although some selling on 31st Aug and 01 Sep but lower levels good consolidation was also seen on 02-09-2016 therefore rally continuation hopes are alive and once valid break out of last 3 sessions highest(8824) will mean on going rally continuation towards next target(9764.10). Just click following topic link which was posted on 10-07-2016 and understand the calculation of mentioned target:-

8295/8398 Will Confirm Nifty Target at and above 9764.10

Now Wave-iii of Wave-3 is on and as per Elliott Wave theory Wave-3 of any degree can gain maximum points therefore high possibility of rally continuation and for precaution and confirmations only watch valid break out of last 3 sessions highest(8824).  

Post-open Outlook(02-09-2016)

As intraday selling patterns formations in last 2 sessions therefore not sustaining at higher levels and slipping as well but some indications of consolidation in first 50 minutes today therefore sustaining below yesterday lowest(8760) should be firstly watched for fresh down moves.

Today Started Correction Continuation Expectations

Intra Day Chart Analysis & Market Outlook

(02-09-2016)

Nifty-Intra Day Chart (01-Sep-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8792-8811
2- Selling between 8800-8813
3- Whole day actual trading between 8760-8813

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Down Moves Expectations":-

sufficiently good intraday selling patterns formations today therefore some down moves are being expected in the coming sessions.

As follow up selling today after yesterday selling therefore today started down moves continuation is expected in the coming sessions and correction of that rally will be firstly seen which started on 29-08-2016 from 8544.

Down Moves Expectations

Intra Day Chart Analysis & Market Outlook

(01-09-2016)

Nifty-Intra Day Chart (31-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8778-8801
2- Up moves in Bearish Rising Channel
3- Selling between 8802-8819
4- Whole day actual trading between 8755-8819

Conclusions from intra day chart analysis 

Although whole day Green zone trading and 0.42% positive closing as well but sufficiently good intraday selling patterns formations today therefore some down moves are being expected in the coming sessions.

As busy therefore Stock Market Outlook of today and tomorrow will not be updated 

Deeper Correction Possibility

We told many times for "Deeper Correction Possibility" in the previous Outlooks from 18-08-2016 which can be verified also from all the Outlooks on Home page. As following news may be its trigger therefore just click following topic link and prepare yourself:-

Dow, S&P 500 close lower as September rate-hike prospect rattles bulls

Crucial Levels Breaking Down will confirm Deeper Correction

Technical Analysis,Research & Weekly Outlook

(Aug 29 to Sep 02,2016)

Nifty-EOD Chart (26-Aug-2016):-

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Technical Patterns and Formations in EOD charts

1- Wave 1 of fresh Rally beginning after 12 months correction completion at 6825.80 on 29-02-2016
2- Wave-1(7583.70 on 14-03-2016) 
3- Wave-2(7405.20 on 16-03-2016)
4- Wave-3(8288.90 on 08-06-2016)
5- Wave-4(7927.10 on 24-06-2016)
6- Wave-5(8728.40 on 09-08-2016) 
7- Previous 27 sessions sideways trading between 8518-8728 from 25-07-2016 
8- Previous 9 sessions sideways trading range(8580-8687) broken down on 26-08-2016 

Fibonacci Retracement levels of Post Budget 2016-2017 Rally(6826-8728)

Nifty-EOD Chart (26-Aug-2016):-

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Fibonacci retracement levels in EOD charts

1- 13.0%- 8480
2- 23.6%- 8279
3- 27.0%- 8214
4- 38.2%- 8001(Crucial)
5- 50.0%- 7777(Crucial)
6- 61.8%- 7552(Crucial)
7- 70.7%- 7383
8- 76.4%- 7274
9- 78.6%- 7233 
10-88.6%- 7042 

Intra Day Chart Analysis(26-08-2016)

Nifty-Intra Day Chart (26-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- All Down moves in Bullish Falling Channels
2- Whole day actual trading between 8548-8622

Conclusions from intra day chart analysis 

Although whole day down moves but all in  Bullish Falling Channels therefore an indication of some up moves in the beginning of next week.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Long Term Trend is up. 
2- Intermediate Term Trend is up. 
3- Short Term Trend is sideways for the last 27 sessions between 8518-8728 

Next resistances of Nifty are as follows:-

1- 8602-8635
2- 8658-8687
3- 8686-8710
4- 8708-8723

Next supports of Nifty are as follows:-

1- 8546-8565
2- 8518-8540
3- 8476-8506
4- 8448-8463

Post Budget Rally started from 6825.80 on 29-02-2016 and now it is on with its Wave-5 highest formation at 8728.40 on 09-08-2016. As oscillators have turned overbought on weekly Charts and some have started to show negative divergence also therefore possibility of Intermediate Term Correction is very much on and its first indication was seen on 26-08-2016 through breaking down of last 9 sessions sideways trading range(8580-8687). Although closing was below the lowest of last 9 sessions trading range lowest(8580) at 8572.55 but intraday charts have not shown fresh selling patterns and some intraday consolidation was also seen therefore some up moves above 8580 can not be ruled out in the beginning of next week. 

It should be kept in mind that correction beginning confirmation will mean correction after Wave-5 completion therefore possibly deeper correction of whole Post Budget rally(6826-8728) will be seen according to above mentioned Fibonacci Retracement levels and its beginning confirmation will be according to valid break down of following levels:-

1- Previous 9 sessions trading range(8580-8687) will be first strong indication
2- Previous 27 sessions trading range(8518-8728) will be confirmation.

Certainly deeper correction is very much due but confirmation is also required from above mentioned levels because Post Budget Rally is having history of fresh moves after sideways market therefore confirmation is must from above mentioned crucial levels breaking down. 

Deeper Correction is on Cards Now

Intra Day Chart Analysis & Market Outlook

(26-08-2016)

Nifty-Intra Day Chart (25-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8666-8683(Immediate Resistances)
2- Down moves beginning after sharp fall beginning in European markets and Dow's Futures
3- Whole day actual trading between 8584-8683

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly Watch Crucial Levels after Global markets led volatility Today":-

Last 8 Sessions trading between 8580-8687 with higher levels selling therefore view will not be Bullish until Nifty will not sustain above 8687 after follow up complete consolidation. Follow up selling and valid break down below 8580 will confirm decisive down moves and deeper correction possibility also.  

Although Nifty closed after strong recovery from lower levels yesterday but we were not Bullish and updated the levels between 8580-8687 in which Nifty traded whole day today within 8583.65-8683.05.

As fresh selling between 8666-8683 today and sharp fall beginning in European markets and Dow's Futures also therefore down moves were seen in last hours of the day today. Nifty traded between 8580-8687 in last 9 sessions with higher levels good selling and minor supports at lower levels therefore possibility of slipping below 8580 and deeper correction beginning can not be ruled out. As last 9 sessions lowest(8580) has become most crucial today therefore its valid break down should be firstly watched in the coming sessions for deeper correction confirmations which is on cards now.

Firstly Watch Crucial Levels after Global markets led volatility Today

Intra Day Chart Analysis & Market Outlook

(25-08-2016)

Nifty-Intra Day Chart (24-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 8634-8653
2- Volatility according to European markets and Dow's Futures
3- Up moves after sharp up in European markets and Dow's Futures
4- Whole day actual trading between 8621-8661

Conclusions from intra day chart analysis 

Although closing near the higher levels of the day but as such consolidation patterns were not seen and today moves were on the back of Global markets volatility therefore next immediate moves will be decided through previous sessions technical positions formations and Crucial levels.

Last 8 Sessions trading between 8580-8687 with higher levels selling therefore view will not be Bullish until Nifty will not sustain above 8687 after follow up complete consolidation. Follow up selling and valid break down below 8580 will confirm decisive down moves and deeper correction possibility also.  

Possibility of Correction below 8600

Intra Day Chart Analysis & Market Outlook

(24-08-2016)

Nifty-Intra Day Chart (23-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling between 8622-8635
2- Selling between 8602-8620
3- Up moves after strong rally in European markets and Dow's Futures
4- Whole day actual trading between 8580-8642

Conclusions from intra day chart analysis 

Although closing at higher levels of the day after last hour up moves but sufficiently good selling patterns formations were also seen therefore expected that Nifty will not be able to sustain above the top(8642.15) of today. As selling was also seen in previous sessions and today as well therefore expected that finally Nifty will again slip below 8600 and deeper correction possibility also can not be ruled out despite Dow Jones now trading more than 90 points up.

Deeper Correction Confirmations from 8604 amid More Down Moves Possibility

Intra Day Chart Analysis & Market Outlook

(23-08-2016)

Nifty-Intra Day Chart (22-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- Slipping fast after flat opening
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 8614-8684

Conclusions from intra day chart analysis 

Firstly Slipping fast after flat opening and Up moves in Bearish Rising Channel also during last trading hours therefore more down moves can not be ruled out in the coming sessions. As deeper correction will get confirmations after breaking down confirmation of last 6 sessions trading range lowest(8604) therefore should also be watched for its confirmations.

A Correction of Typing Mistake 

Following typing mistake in levels was incurred yesterday in "Firstly Watch Crucial Levels one by one for Next Trend Confirmations":-

Following line was with wrong levels was posted:-
5 Sessions actual trading between 8503-8687 

Same line with correct levels are as follows:-
5 Sessions actual trading between 8604-8687

Firstly Watch Crucial Levels one by one for Next Trend Confirmations

Technical Analysis,Research & Weekly Outlook

(Aug 22 to Aug 26,2016)

Nifty-EOD Chart (19-Aug-2016):-

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Technical Patterns and Formations in EOD charts

1- Wave 1 of fresh Rally beginning after 12 months correction completion at 6825.80 on 29-02-2016
2- Wave-1(7583.70 on 14-03-2016) 
3- Wave-2(7405.20 on 16-03-2016)
4- Wave-3(8288.90 on 08-06-2016)
5- Wave-4(7927.10 on 24-06-2016)
6- Wave-5 continuation with recent top formation at 8728.40 on 09-08-2016 
7- Previous 22 sessions sideways trading between 8518-8728 from 25-07-2016 

6 times sideways markets of whole Post-Budget Rally

Nifty-EOD Chart (19-Aug-2016):-

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Technical Patterns and Formations in EOD charts

1- Rally beginning after 12 months correction completion at 6825.80 on 29-02-2016
2- Longer periods 6 times sideways markets after 1/2 sessions up moves.
3- Previous 22 sessions sideways trading between 8518-8728 from 25-07-2016 
4- Rally continuation with recent top formation at 8728.40 on 09-08-2016

Previous 5 Sessions intraday charts analysis

Nifty-Intra Day Chart (Aug 12  to Aug 19,2016):-

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Technical Patterns and Formations in last 5 Sessions intraday charts

1- Higher levels selling and lower levels consolidation in last 5 sessions
2- 5 Sessions actual trading between 8503-8687 

Conclusions from 5 Sessions intra day chart analysis 

As higher levels selling and lower levels consolidation in last 5 sessions between 8503-8687 and its valid break out will result strong indication of next trend therefore should be firstly watched in next week.

Intra Day Chart Analysis(19-08-2016)

Nifty-Intra Day Chart (19-Aug-2016):-

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Technical Patterns and Formations in today intraday charts

1- Selling patterns formation between 8678-8687
2- Selling patterns formation between 8658-8670
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 8648-8687

Conclusions from intra day chart analysis 

Whole day trading within 39 points with sufficient selling patterns formations but Indian markets out performed European markets and Dow's Futures because when these 2 moved down sharply then Nifty was down moves in Bullish Falling Channel and was little weak while these 2 were too much down. 

Although selling at higher levels but some buying also can not be ruled out thorugh 3 times Down moves in Bullish Falling Channels therefore Mixed intraday patterns formations will be understood and valid break out of day's trading range(8648-8687) will give 1st indication of nrxt trend therefore should be firstly watched in the beginning of next week.

Conclusions (After Putting All Studies Together)

Trends of Nifty are as follows:-

1- Long Term Trend is up. 
2- Intermediate Term Trend is up. 
3- Short Term Trend is sideways for the last 22 sessions between 8518-8728 

Next resistances of Nifty are as follows:-

1- 8658-8687
2- 8686-8710
3- 8708-8723

Next supports of Nifty are as follows:-

1- 8546-8565
2- 8518-8540
3- 8476-8506
4- 8448-8463

Post Budget Rally started from 6825.80 on 29-02-2016 and now it is very much on. It has been a peculiar character of this rally that it turned sideways  after 1/2 sessions up moves and now also its 6th sideways market is in continuation for the last 22 sessions between 8518-8728. As sustaining it beyond will form next trend therefore should be watched for its confirmation in the coming sessions/weeks.

Maximum target of on going Waves structure is at 8810.80 and its calculations has already been updated on 16-08-2016 in "Valid break out last 18 sessions sideways trading range will confirm next trend":-

Almost 6 months old Post Budget rally which has already gained 1902 points with its recent top formation at 8728.40 is 82 points less than its defined maximum target(8810.80). As correction is very much due now because Oscillators have turned overbought on weekly Charts and some have started to show negative divergence also therefore possibility of Intermediate Term Correction will also be considered because as per above defined Waves structure Wave-5 is on and its completion confirmation below 8810.80 will mean correction of that whole whole post Budget rally which(Wave-1) started from 6825.80 on 29-02-2016. 

All the crucial levels have already been updated above which will give next trend confirmation one by one and should be firstly watched in next week. As sustaining below 22 sessions lowest(8518) without testing 8810.80 will confirm deeper correction therefore should also be kept in mind. 

Post-open Outlook(19-08-2016)

Selling patterns formations between 8671-8690 in last 5 hours yesterday and today first hour most time trading within it with some indications of consolidations.  Although now trading only 2 points down but will be safer to watch valid break out of 8671-8690 for first strong indication of next decisive moves.