Bullish Indian Stock markets &
24379-25116 will confirm the
life & length of on going
Short Term Correction
Technical Analysis,Research & Weekly
Outlook(Jun 02 to Jun 06,2025)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (30-May-2025):-
Technical Patterns and Formations in EOD charts
1- Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning.
2- 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.
3- Corrective Wave-A of Wave-(iv) of Wave-3 completion at 23263.20 on 21-11-2024.
4- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.
5- Corrective Wave-C of Wave-(iv) of Wave-3 completion at 21743.70 on 07-04-2025 and Wave-(v) of Wave-3 beginning from this level.
6- Impulsive Wave-(v) of Wave-3 continuation with recent top formations at 25116.30 on 15-05-2025.
7- Last 15 sessions trading between 24379-25116.
Conclusions from EOD chart analysis
(Waves structure)
Wave-C of "ABC" correction completed at 18837.80 on 26-10-2023 and from this level impulsive Wave-(iii) of Wave-3 started which completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-A of Wave-(iv) of Wave-3 begun from this level.
Corrective Wave-A of Wave-(iv) of Wave-3 completed at 23263.20 on 21-11-2024 and Wave-B of Wave-(iv) of Wave-3 started from this levels which completed at 24857.80 on 05-12-2024. From this levels corrective Wave-C of Wave-(iv) of Wave-3 begun which completed at 21743.70 on 07-04-2025 and Wave-(v) of Wave-3 begun from this level. Now impulsive Wave-(v) of Wave-3 continuation with recent top formations at 25116.30 on 15-05-2025 and no confirmation of its completion yet on EOD charts. Last 15 sessions trading between 24379-25116 and finally sustaining beyond this range will confirm next bigger decisive moves beginning.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (30-May-2025):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.
2- Stochastic:- %K(5)- 37.50 & %D(3)- 51.01.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in positive zone.
4- MACD(26,12)- 158.09 & EXP(9)- 287.01 & Divergence- -128.92
Conclusions from EOD chart analysis
(Stochastic & MACD)
Technical positions of Short Term indicators are as follows:-
1- As in Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone therefore it will be understood that at present this indicator is signalling some more downward moves possibility and/or on going Short Term correction possibility in the coming week.
2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore it will be understood that this indicator is signalling downward trend formations and resultant downward moves beginning possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (30-May-2025):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 24797(Very Short Term Trend decider)
2- 21-Day SMA is today at 24676(Short Term Trend decider)
3- 55-Day SMA is today at 23825(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23502
5- 200-Day SMA is today at 24065(Long Term Trend decider)
Conclusions from EOD chart analysis
(Averages)
As Nifty is sustaining above Intermediate and Long Term Trend deciders 55-Day and 200-Day SMAs respectively therefore both these Trends are definitely up. As Nifty is continuously hovering around Very Short Term Trend decider 5-Day SMA for the last many sessions and Nifty closed less than 100 points above Short Term Trend decider 21-Day SMA last Friday therefore firstly sustaining beyond 21-Day SMA should be watched in the coming week for its confirmations despite it is still up.
Nifty-Intra Day Chart Analysis
(30-May-2025)
Nifty-Intra Day Chart (30-May-2025):-
Technical Patterns formation in today intraday charts
1- 94 points up also in first 18 minutes
2- Down moves in Bullish Falling Channel
3- More than 4 hours sideways trading with consolidation patterns indications between 24718-24800
4- Whole day trading between 24718-24863
Conclusions from intra day
chart analysis
Although firstly upward moves after positive opening and Nifty traded 94 points up also in first 18 minutes but down moves begun which remained continued in the next hour and Nifty traded 116 points down also after loosing all initial gains. As these downward moves were in Bullish Falling Channel and after that last more than 4 hours sideways trading was with consolidation patterns indications also therefore upward moves are expected in the beginning of next week and once sustaining above 24800 will mean strong rally beginning.
Conclusions (After putting
all studies together)
1- Short Term Trend is up.
2- Intermediate Term Trend is up.
3- Long Term Trend is up.
Impulsive Wave-(iii) of Wave-3 of that Waves structure completed at 26277.30 on 27-09-2024 of which impulsive Wave-1 of new Waves structure begun from 15183.40 on 17-06-2022. Wave-A of Wave-(iv) of Wave-3 of "ABC" correction started from this levels and its Wave-C completed at 21743.70 on 07-04-2025. Impulsive Wave-(v) of Wave-3 begun from this level which is now in continuation with recent top formations at 25116.30 on 15-05-2025 and no confirmation of its completion yet on EOD charts as well as Nifty is trading between 24379-25116 for the last 15 sessions.
SMAs are suggesting that all the Trends are now up but for precaution sustaining beyond Short Term Trend decider 21-Day SMA(today at 24676) should be watched in the coming week for its confirmations. As last 15 sessions trading between 24379-25116 therefore Short Term indicators Stochastic and MACD are signalling downward moves possibility but many times Bullish Stock Markets completes its Short Term Corrections within sideways trading also therefore firstly sustaining beyond last 15 sessions trading range(24379-25116) should be watched in the coming week/weeks for the life and length of on going Short Term correction.
Although Indian Stock markets are Bullish and impulsive Wave-(v) of Wave-3 is now in continuation for fresh upward moves above life time top(26277.30) but at present Short Term Corrections is on within sideways market also between 24379-25116 for the last 15 sessions and finally sustaining it beyond will confirm its life and length therefore firstly sustaining beyond following levels,supports and resistances of last 15 sessions trading range should be watched in the coming week/weeks for next immediate decisive moves beginning confirmations:-
1- Last 3 sessions sideways trading range(24715-24804).
2- Supports between 24518-24647.
3- Resistances between 24976-25083.