Sustaining above 22617 will confirm
strong rally beginning
Technical Analysis,Research Outlook(28-02-2025)
Nifty-EOD Chart Analysis
(Stochastic)
Nifty-EOD Chart (27-Feb-2025):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and Corrective Wave-A of Wave-(iv) of Wave-3 of "ABC" correction beginning.
2- Corrective Wave-A of Wave-(iv) of Wave-3 completion at 23263.20 on 21-11-2024.
3- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.
4- Corrective Wave-C of Wave-(iv) of Wave-3 continuation with recent bottom formations at 22506.40 on 27-02-2025.
5- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling in Over sold zone.
6- Stochastic:- %K(5)- 07.20 & %D(3)- 14.75
Conclusions from EOD chart analysis
(Stochastic)
Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and Corrective Wave-A of Wave-(iv) of Wave-3 of "ABC" correction started. Now its corrective Wave-C of Wave-(iv) of Wave-3 continuation with recent bottom formations at 22506.40 on 27-02-2025.
As in Short Term indicator Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling in Over sold zone and have turned completely Oversold also therefore it will be understood that this indicator is showing first signal of Short Term upward moves beginning. Let its both lines to move above Oversold zone then Short Term Upward moves/Pull Back Rally will be seen and its 100% confirmation will be after sustaining above 22617 because Nifty has traded more than 16 hours between 22517-22617 in last 3 sessions and finally sustaining above 22617 will be 16 hours trading range break out confirmations.