On going rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(31-03-2017)

Nifty-Intra Day Chart (30-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- More than 4 hours Down moves in Bullish Falling Channel
2- Derivative expiry led last hours volatility 
3- Whole day actual trading between 9141-9183

Conclusions from intra day chart analysis 

Although fast slipping from higher levels in last 5 minutes but it will be understood a part of derivative expiry led last hours volatility only and on going rally continuation is expected because more than 4 hours Down moves were also seen in Bullish Falling Channel.

Up moves continuation expectations

Intra Day Chart Analysis & Market Outlook

(30-03-2017)

Nifty-Intra Day Chart (29-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 5 Hours sideways trading within 30 points between 9110-9140
1- Consolidation between 9110-9124
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 9110-9153

Conclusions from intra day chart analysis 

Firstly 5 hours sideways trading within 30 points between 9110-9140 with lower levels consolidation and slipping from higher levels also which were due to oppositions parties arguments during GST debate in Lok Sabha. As Down moves were in Bullish Falling Channels therefore up moves were seen in last hour and its continuation is also expected. 

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

Still rally continuation  expectations above last 10 sessions trading range highest

Intra Day Chart Analysis & Market Outlook

(28-03-2017)

Nifty-Intra Day Chart (27-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Minor selling between 9072-9087
2- Consolidation between 9025-9040
3- Down moves in Bullish Falling Channel 
4- Whole day actual trading between 9025-9087

Conclusions from intra day chart analysis 

As following reasons therefore slipping fast after weak opening:-

1- Dow's Futures weaker trading by more than 120 points.
2- Reliance Industries shares crashing as Sebi curbs its futures trading
3- Skymet Weather has predicted that the upcoming Southwest Monsoon 2017 is likely to be below normal.

Following lines were told yesterday in "Finally rally after follow up consolidation":-

finally rally will be seen after follow up consolidation within last 9 sessions trading range(9020-9186)

Following lines were told on 22-03-2017 in "Finally rally continuation expectations after follow up consolidation within and above gap support ":-

1- gap between 8976-9062 and this gap is next strong support of Nifty.
2- Still expected that finally rally will remain continued after follow up consolidation within and above mentioned gap support

As today deeper down moves were due to above mentioned negative news and Nifty got support within last 10 sessions trading range(9020-9186) at 9024.65 therefore same Still same view that finally rally will remain continued above last 10 sessions trading range highest(9186) after follow up consolidation within and above mentioned gap support.

Finally rally after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(27-03-2017)

Nifty-Intra Day Chart (24-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sharp up after positive opening
2- 5 Hours trading with Mixed Patterns formations between 9108-9133
3- Sharp down fron higher levels
4- Down moves in Bullish Falling Channel in last half hour
5- Whole day actual trading between 9090-9133

Conclusions from intra day chart analysis 

Although 5 hours trading with Mixed Patterns formations and sharp up with sharp down also but Down moves in Bullish Falling Channel in last half hour therefore view will not be Bearish despite closing near the lower levels of the day because consolidation patterns were also seen. Still expected that finally rally will be seen after follow up consolidation within last 9 sessions trading range(9020-9186)

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

Finally rally continuation expectations after follow up consolidation within and above gap support 

Intra Day Chart Analysis & Market Outlook

(23-03-2017)

Nifty-Intra Day Chart (22-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Mixed Patterns between 9037-9072 
2- Whole day actual trading between 9020-9072  

Conclusions from intra day chart analysis 

As crashing like situation in all the Global markets therefore huge gap down opening in Indian markets but more than 5 hours trading with mixed patterns formations which means  that next trend will be decided from break out of that gap(8976-9062) which was formed on 14-03-2017 after UP Elections results announcement and Nifty closed within it at 9030.45 today.

13 Sessions trading range(8860-8993) was broken out forcefully on 14-03-2017 with gap between 8976-9062 and this gap is next strong support of Nifty. Although last 4 sessions are showing down moves but without too much selling patterns formations and consolidation was also seen and today sharp down moves were due to Global markets pressure therefore view will not be Bearish. Still expected that finally rally will remain continued after follow up consolidation within and above mentioned gap support.

Finally rally above 9200 after 2/3 sessions follow up consolidation

Intra Day Chart Analysis & Market Outlook

(22-03-2017)

Nifty-Intra Day Chart (21-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours Down moves in Bullish Falling Channel
2- Consolidation between 9088-9108
3- Whole day actual trading between 9088-9147

Conclusions from intra day chart analysis 

Although most time negative zone trading with little down closing but lower levels good consolidation after 4 hours Down moves in Bullish Falling Channel therefore it will be understood that Indian markets are in consolidation phase and resultant finally rally will be seen above 9200 after 2/3 sessions follow up consolidation despite now SGX Nifty trading 45 points down after 175 slipping of Dow Jones today.

Finally rally above 9200

Intra Day Chart Analysis & Market Outlook

(21-03-2017)

Nifty-Intra Day Chart (20-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 9117-9127
2- Whole day actual trading between 9117-9147

Conclusions from intra day chart analysis 

Although whole day negative zone trading and 0.36% down closing also but good consolidation Patterns formations between 9117-9127 therefore some up moves are expected tomorrow. 

Following lines were told yesterday in "Rally continuation expectations above 9200 after follow up consolidation":-

1- good consolidation was seen between 9130-9140 on 16-03-2017
2- Selling between 9156-9170
3- Last 2 sessions actual trading between 9130-9186 without one sided intraday patterns formations therefore Nifty has to traded and prepare for next decisive moves within this range which will be done in the beginning of next week

Although most time trading below 8130 today but good consolidation was seen below it therefore view will not be Bearish and once sustaining above 9140 will mean strong indication of fresh up moves beginning. As selling was seen below 9170 last Friday therefore sustaining above 9170 is must after follow up complete consolidation for next rally beginning.

As lower levels consolidation today also after good consolidation on 16-03-2017 therefore still expected that finally rally will be seen above 9200 after follow up consolidation.

Rally continuation expectations above 9200 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(20-03-2017)

Nifty-Intra Day Chart (17-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- More than 2 hours down moves in Bullish Falling Channel
2- Selling between 9156-9170
3- Whole day actual trading between 9148-9186

Conclusions from intra day chart analysis 

Although firstly more than 2 hours down moves in Bullish Falling Channel but after that selling also between 9156-9170 therefore intraday patterns will be understood with mixed Patterns formations between 9148-9186 and its valid break out will be next decisive moves first indication.

As good consolidation was seen between 9130-9140 on 16-03-2017 and it will first support but Indian markets under performed Global markets on that day therefore view will be cautiously Bullish.

Last 2 sessions actual trading between 9130-9186 without one sided intraday patterns formations therefore Nifty has to traded and prepare for next decisive moves within this range which will be done in the beginning of next week and finally sustaining beyond this range should be watched for Short Term correction below 9130 and rally continuation above 9186 despite still expectation of rally continuation above 9200 after follow up consolidation in next week.

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

Finally rally will remain continued above 9150 despite whatsoever decision by FOMC tonight

Intra Day Chart Analysis & Market Outlook

(15-03-2017)

Nifty-Intra Day Chart (15-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel 
3- Whole day actual trading between 9076-9106

Conclusions from intra day chart analysis 

Although firstly up moves in Bearish Rising Channel but Down moves in Bullish Falling Channels were also seen therefore high possibility of rally continuation above today highest despite today closing near the lower levels of the day. As sufficiently good intraday consolidation patterns formations in last 2 sessions therefore it is confirm that finally rally will remain continued above 9150 despite whatsoever decision by FOMC tonight.

Finally rally continuation after follow up consolidation 

Intra Day Chart Analysis & Market Outlook

(15-03-2017)

Nifty-Intra Day Chart (14-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 9061-9100
2- Whole day actual trading between 9061-9122

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Finally rally continuation above 9150 after higher levels follow up consolidation "

1- Nifty will open above 9000 after gap up opening and new life time high formation above 9119.20 also can not be ruled out tomorrow
2- As high possibility of rates hike by FOMC on 15th March therefore very Short Term Correction is also possible
3- expected that finally rally will remain continued above 9150 after higher levels follow up consolidation between 8995-9150. 

As was told 100% same happened and Nifty traded whole day within mentioned trading range(8995-9150) with new life time high formation at 9122.75 today.  

Although good intraday consolidation with 1.71% gains today but high possibility of rates hike by FOMC on 15th March therefore very Short Term Correction and high volatility are also possible in the next 2 sessions but expected that finally rally will remain continued above 9150 after higher levels follow up consolidation between 8995-9150 because:-

1- 13 Sessions trading range(8860-8993) broken out forcefully today.
2- Intraday consolidation patterns formations above 13 sessions trading range today.  

Finally rally continuation above 9150 after higher levels follow up consolidation 

Intra Day Chart Analysis & Market Outlook

(14-03-2017)

Nifty-Intra Day Chart (10-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- More than 6 hours trading with consolidation Patterns between 8904-8955
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 8904-8975

Conclusions from intra day chart analysis 

Although most Asian markets were trading flat to weak but Indian markets opened strong last Friday which was first signal of strength. As firstly Down moves in Bullish Falling Channel and after that more than 6 hours trading with consolidation Patterns formations therefore emergence of rally continuation expectations.

Following lines were told in previous Outlook on 09-03-2017 in "Rally continuation above 9000":-

Last 12 sessions sideways trading between 8860-8993 with good consolidation patterns formations and follow up consolidation was seen today also therefore high possibilities of rally above 9000 in the coming sessions. 

As huge victory of BJP in Assembly Elections on 11th March therefore SGX Nifty is trading 225 points up at 9180 today which means that Nifty will open above 9000 after gap up opening and new life time high formation above 9119.20 also can not be ruled out tomorrow. We told for rally continuation more than 10 times and 4 times above 9000 in last 1 month which will be seen tomorrow but follow up consolidation is firstly required because more than 34 lac Call options position formations last Friday. As high possibility of rates hike by FOMC on 15th March therefore very Short Term Correction is also possible but expected that finally rally will remain continued above 9150 after higher levels follow up consolidation between 8995-9150. 

Rally continuation above 9000

Intra Day Chart Analysis & Market Outlook

(10-03-2017)

Nifty-Intra Day Chart (09-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation between 8906-8930
2- Up moves with intraday corrections
3- Whole day actual trading between 8900-8945

Conclusions from intra day chart analysis 

As all the Global markets were much down therefore weaker opening today but whole day good consolidation between 4 hours sideways market and after that up moves with intraday corrections therefore rally continuation is expected. Last 12 sessions sideways trading between 8860-8993 with good consolidation patterns formations and follow up consolidation was seen today also therefore high possibilities of rally above 9000 in the coming sessions. 

Finally rally continuation after Very Short Term correction completion today 

Intra Day Chart Analysis & Market Outlook

(08-03-2017)

Nifty-Intra Day Chart (07-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 8933-8954
3- Whole day actual trading between 8933-8977

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Finally Rally continuation after Minor Correction":-

1- As Very Short Term indicators have turned overbought and Nifty has to consolidate between 8931-8992 
2- which will be firstly done in the coming sessions therefore minor intraday corrections also can not be ruled out within this range.

Nifty traded whole day today within yesterday mentioned range with most time negative zone trading but consolidation was firstly seen through Down moves in Bullish Falling Channel and after that sideways trading with consolidation patterns formations between 8933-8954 therefore finally on going rally continuation is expected after Very Short Term correction completion today.

Finally Rally continuation after Minor Correction

Intra Day Chart Analysis & Market Outlook

(07-03-2017)

Nifty-Intra Day Chart (06-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Sharp up after gap up opening
2- Consolidation Patterns formations between 8931-8968
3- Whole day actual trading between 8914-8968

Conclusions from intra day chart analysis 

Firstly sharp up after gap up opening and after that more than 6 hours consolidation Patterns formations between 8931-8968 therefore on going rally continuation is expected. As Very Short Term indicators have turned overbought and Nifty has to consolidate between 8931-8992 which will be firstly done in the coming sessions therefore minor intraday corrections also can not be ruled out within this range and until Nifty will not sustain below 8881 after complete follow up selling till then any decisive down moves will not be seen.

Strong signals of rally continuation in next week

Intra Day Chart Analysis & Market Outlook

(06-03-2017)

Nifty-Intra Day Chart (03-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 4 Hours consolidation Patterns formations between 8861-8883
2- Whole day actual trading between 8861-8907

Conclusions from intra day chart analysis 

Supports between 8864-8876 were updated on 28-02-2017 in "Firstly watch next supports for on going correction continuation/completion" and 4 Hours consolidation Patterns formations within this range between 8861-8883 was seen on 03-03-2017 therefore strong signals of rally continuation in next week which is expected also.

Finally rally above 9000 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(03-03-2017)

Nifty-Intra Day Chart (02-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- Consolidation patterns formations between 8940-8992
2- Sharp fall in last hour
3- Whole day actual trading between 8880-8992

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after sharp fall in last hour but selling patterns were not seen and consolidation patterns formations in first 5 hours therefore view will not be Bearish because today down moves will be cooling down of sentiments which turned heated after 300 points Dow Jones rally last Wednesday.

As above reasons therefore expected that finally rally will be seen above 9000 after follow up consolidation in next 1/2 sessions because Indian markets are Bullish and any deeper correction can not be considered after such 1 day fall.

Rally continuation after short term correction completion 

Intra Day Chart Analysis & Market Outlook

(02-03-2017)

Nifty-Intra Day Chart (01-Mar-2017):-

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Technical Patterns and Formations in today intraday charts

1- 70 Points up in first 20 minutes after strong opening
2- 5 Hours consolidation Patterns between 8927-8949 
3- Whole day actual trading between 8910-8950

Conclusions from intra day chart analysis 

As most Asian markets were trading positive after some consolidation yesterday therefore 70 Points up in first 20 minutes after strong opening. Although slipping from higher levels in last half hour but 5 hours good consolidation between 8927-8949 therefore rally continuation is expected after previous 3 sessions short term correction completion.

Firstly watch next supports for on going correction continuation/completion 

Intra Day Chart Analysis & Market Outlook

(01-03-2017)

Nifty-Intra Day Chart (28-Feb-2017):-

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Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel
2- Selling patterns formation between 8888-8897
3- Whole day actual trading between 8868-8914

Conclusions from intra day chart analysis 

Although firstly down moves but selling patterns formation between 8888-8897 were also seen therefore today trading will be understood with mixed Patterns formations and Nifty will remain sideways between following supports and resistances:-

1- Supports between 8864-8876
2- Supports between 8812-8834
3- Supports between 8717-8750(strong supports)
1- Resistance between 8918-8927
2- Resistance between 8941-8950
3- Resistance between 8967-8981

As one sided technical position formations was not seen today therefore Nifty will have to traded and prepare for next decisive moves within above mentioned supports and resistances. Correction is on and no confirmation of its completion yet therefore some more down moves can not be ruled out but next supports are lying between 8864-8876 and firstly sustaining it beyond should be watched for on going correction continuation/completion.