More down moves expectations 

after fresh selling

Technical Analysis,Research & Weekly Outlook

(Sep 14 to Sep 18,2020)

Nifty-Weekly Chart Analysis 

(Wave B structure & Stochastics)

Nifty-Weekly Chart (11-Sep-2020):-

Technical Patterns and Formations in Weekly charts

1- Corrective Wave-A completion at 7511.10 on 24-03-2020 and Wave-B beginning

2- Wave-B completion indications with recent top formation at 11794.3 on 31-08-2020

3- Stochastic-%K(5) is at 65.47 & %D(3) is at 75.73

Conclusions from EOD chart analysis

(Wave B structure & Stochastics)

As Nifty crashed 406 points higher levels and closed 260 points down on 31-08-2020 as well as formed long Bearish Engulfing candle on both EOD and Weekly chart therefore generated strongest indication of Wave-B completion at 11794.3 and Wave-C beginning to move towards and below the ogigin of Wave-B(7511.10).

Emergence of following bearish signals from weekly Stochastics:-

1- Both lines have started to move down from over bought zone.

2- %K has intersected %d downward.

Nifty-Last 9 Sessions

 intraday charts analysis

Nifty-Intra Day Chart (Sep 01 to Sep 11,2020):-

Technical Patterns formation in last 9 Sessions intraday charts

1- Selling(Resistances) in last 9 sessions are between:- 

A- 11550-11569

B- 11400-11460

C- 11382-11437

D- 11451-11493

2- Consolidation(Supports) in last 9 sessions are sessions:-

A- 11301-11339

B- 11186-11243

C- 11343-11357

D-  Double bottom supports at 11366

3- 9 Sessions actual trading between 11186-11585 

Conclusions from 9 Sessions intra day chart analysis 

Nifty crashed 406 points higher levels on 31-08-2020 and after that traded last 9 sessions of this month between 11186-11585 with higher levels selling and lower levels buying.

As both higher levels higher levels good selling and lower levels equally good buying in last 9 sessions therefore Nifty will firstly trade within last 9 sessions trading range as well as prepare in the coming week for next decisive big moves beyond this range.

Nifty-Intra Day Chart Analysis

(11-Sep-2020)

Nifty-Intra Day Chart (11-Sep-2020):-

Technical Patterns formation in today intraday charts

1- Selling between 11467-11493 

2- Up moves in Bearish Rising Channel

3- Selling between 11451-11470

4- Up moves in Bearish Rising Channel

5- Selling between 11457-11477

6- Whole day actual trading between 11420-11493

Conclusions from intra day chart analysis 

As whole day sideways trading with only selling patterns formations therefore expected that down moves will be seen below last Friday lowest(11419.90) in next week.

Conclusions 

(After Putting All Studies Together)

1- Long term trend is down.

2- Intermediate term trend is sideways between 11186-11585.

3- Short term trend is up.

Although higher levels good selling but lower levels some supports have also been developed in previous week therefore Nifty will firstly trade in next week between last 9 sessions trading range(11186-11585). As last Friday good intraday selling patterns formations therefore firstly Nifty will counter above mentioned supports(D & C)  

As strongest indications of Wave-C formation to move below 7511.10 after 260 points fall on 31st Aug 2020 and weekly Stochastics is also indicating more down moves therefore expected that finally Nifty will move below the lowest(11186) of last 9 sessions trading range after fresh selling in next week.

Down moves expectations towards

 immediate supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(11-09-2020)

Nifty-Intra Day Chart (10-Sep-2020):-

Technical Patterns formation in today intraday charts

1- Supports between 11343-11357

2- Up moves in Bearish Rising Channel

3- Down moves in Bullish Falling Channel

4- Double bottom supports at 11366(immediate supports)

5- Up moves in Bearish Rising Channel

6- Whole day actual trading between 11328-11464

Conclusions from intra day chart analysis 

As firstly supports between 11343-11357 after gap up opening therefore up moves were seen which were in Bearish Rising Channel hence signals of some selling developed.

As some consolidation was seen through Down moves in Bullish Falling Channel and Nifty got double bottom supports at 11366 therefore it will be immediate supports of Nifty.

Although closing was at the top of the day but last hour up moves in Bearish Rising Channel therefore signals of selling at higher levels also. 

As after 10:30 AM and higher levels selling patterns formations therefore view will not be Bullish and expected that finally Nifty will not sustain above today highest(11464) and down moves will be seen towards following immediate supports:-

1- 11366

2- 11343

 Some up moves are expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(10-09-2020)

Nifty-Intra Day Chart (09-Sep-2020):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channel

2- Down moves in Bullish Falling Channel

3- Up moves with downward corrections

4- Whole day actual trading between 11186-11298

Conclusions from intra day chart analysis 

Following supports were updated at 01:52 AM on 09-09-2020 in "Firstly watch 11290 amid Dow Jones 632 points negative closing":-

Next supports below 11290 are as follows:-

1- 11166-11218

Live proofs of exact levels are as follows:-

1- 1st support was told below 11218 and today opening was exactly at 11218.60.

2- Nifty got supports within 1st support range at 11185.15 today.

As most depressing Global cues therefore gap down opening but moved up after getting supports within 1st support range(11166-11218) at 11185.15 and consolidation was also seen through Down moves in Bullish Falling Channel and last 3 hour Up moves with downward corrections therefore some up moves are expected towards 11382-11437 tomorrow.

Expected that Nifty will firstly trade between 11166-11437 in the coming 1/2 sessions and prepare for next decisive moves within this range,let it happen then will be updated according to coming sessions intraday patterns formations.

Until Nifty will not sustain above 11437 till then decisive up moves and sustaining below 11166 after fresh selling will mean more decisive down moves which is finally expected also.

 Firstly watch 11290 amid Dow Jones 632 points negative closing

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-09-2020)

Nifty-Intra Day Chart (08-Sep-2020):-

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- Sideways trading between 11382-11437

3- Down moves with upward corrections

4- Whole day actual trading between 11290-11437

Conclusions from intra day chart analysis 

Following lines were told on 05-09-2020 in "Strongest indications of Wave-C formation to move Nifty towards and below 7511.10":-

5th and last supports between 11290-11330 was updated in previous week and Nifty formed previous week lowest within it at 11303.6 last Friday.

Supports between 11290-11330 was updated in both previous weekly Outlooks and today lowest was exactly at 11290.45.

Firstly sustaining beyond 11290 should be watched in the coming sessions because today intraday volatility was due to following big moves of Dow Jones Futures during Indian trading hours:-

1- Indian markets moved up from negative zone because Dow Jones Futures which was trading with good gains started up moves and one time it was trading more than 300 points up.  

2- Until Dow Jones Futures maintained at higher levels till then Nifty remain sideways.

3- As soon as Dow Jones Futures started to move down then Nifty also begun to slip. As Dow Jones Futures lost all it 300 points gains therefore Nifty closed at the lowest of the day.

As whole day today intraday volatility was only Dow Jones Futures led and any clear technical position formation was not seen therefore firstly sustaining beyond 11290 should be watched tomorrow amid Dow Jones 632 points negative closing because sustaining below 11290 will mean sharp fall possibility.

Next supports below 11290 are as follows:-

1- 11166-11218

2- 11086-11114

3- 11034-11060

4- 10880-10927

As busy therefore Stock Market Outlook of today(08-09-2020) is not being updated.