Last 10 sessions trading range(24379-25116) break out will open the doors of fresh rally beginning towards life time top at 26277.30
Technical Analysis,Research & Weekly Outlook
(May 26 to May 30,2025)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (23-May-2025):-
Technical Patterns and Formations in EOD charts
1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.
2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.
3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.
4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023 and Wave-A of "ABC" correction beginning.
5- Wave-A of Wave-(ii) of Wave-3 completion at 19333.60 on 04-10-2023.
6- Wave-B of Wave-(ii) of Wave-3 completion at 19849.80 on 17-10-2023.
7- Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning.
8- 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.
9- Corrective Wave-A of Wave-(iv) of Wave-3 completion at 23263.20 on 21-11-2024.
10- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.
11- 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.
12- Wave-(v) of Wave-3 continuation with recent top formations at 25116.30 on 15-05-2025.
13- Last 10 sessions trading between 24379-25116
Conclusions from EOD chart analysis
(Waves structure)
Corrective Wave-C of "ABC correction" of previous waves structure completion at 15183.40 on 17-06-2022 and from this level Impulsive Wave-1 of new Waves structure started which completed at 18887.60 on 01-12-2022. Corrective Wave-2 begun from this level which completed at 16828.30 on 20-03-2023 and Impulsive Wave-(i) of Wave-3 started from this level.
Impulsive Wave-(i) of Wave-3 completed at 20222.40 on 15-09-2023 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 begun which completed at 19333.60 on 04-10-2023. Wave-B started from this level which completed at 19849.80 on 17-10-2023 and Wave-C begun which completed at 18837.80 on 26-10-2023. Impulsive Wave-(iii) of Wave-3 started from this level 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 10 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 (23-May-2025):-
Technical Patterns and Formations in EOD charts
1- Stochastic- Its both lines %K(5) and %D(3) are kissing in the Middle zone.
2- Stochastic:- %K(5)- 46.87 & %D(3)- 44.55.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in positive zone.
4- MACD(26,12)- 305.83 & EXP(9)- 409.83 & Divergence- -104
Conclusions from EOD chart analysis
(Stochastic & MACD)
Technical positions of Short Term indicators are as follows:-
1- As in Stochastic its both %K(5) and %D(3) lines are kissing in the Middle zone therefore it will be understood that at present this indicator is not signalling any side decisive moves beginning possibility. Let any side clear intersection happen then that side Short Term decisive moves will be seen.
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 (23-May-2025):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 24781(Very Short Term Trend decider)
2- 21-Day SMA is today at 24539(Short Term Trend decider)
3- 55-Day SMA is today at 23589(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23450
5- 200-Day SMA is today at 24050(Long Term Trend decider)
Conclusions from EOD chart analysis
(Averages)
Although Nifty is hovering around Very Short Term Trend decider 5-Day SMA but sustaining above also all the Short to Long Term Trends deciding from 21-Day SMA to 200-Day SMAs therefore it will be understood that all the Trends are up and its a strong indication of on going Wave-(v) of Wave-3 continuation possibility also.
Nifty-Intra Day Chart Analysis
(23-May-2025)
Nifty-Intra Day Chart (23-May-2025):-
Technical Patterns formation in today intraday charts
1- Strong upward moves in first 2 hours after positive opening
2- More than 4 hours trading with mixed Patterns formation between 24846-24909
3- Whole day trading between 24615-24909
Conclusions from intra day
chart analysis
As whole day good intraday consolidation last Thursday therefore firstly strong upward moves were seen and Nifty traded 299 points up in first 2 hours after positive opening last Friday. More than 4 hours trading with mixed Patterns formation between 24846-24909 which means that both intraday consolidation and selling patterns formations within this range therefore:-
1- Nifty will firstly trade and prepare for next decisive bigger moves within and near about 24846-24909 in the beginning of next week.
2- Finally sustaining beyond 24846-24909 will confirm next bigger decisive moves beginning which should be firstly watched in the beginning of next week for its confirmations.
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-1 of that Waves structure which started from 15183.40 on 17-06-2022 is now in continuation through its impulsive Wave-(v) of Wave-3 with recent top formations at 25116.30 on 15-05-2025. Impulsive Wave-(iii) of Wave-3 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-C of Wave-(iv) of Wave-3 completed at 21743.70 on 07-04-2025 and from this level Wave-(v) of Wave-3 begun which is now continuation and no confirmation of its completion yet on EOD charts.
Now all the Trends are up but Short Term indicator MACD signalling downward trend formations and resultant downward moves beginning possibility also. As both %K(5) and %D(3) lines are kissing in the Middle zone therefore it will be understood that at present this indicator is not signalling any side decisive moves beginning possibility. Let any side clear intersection happen then that side Short Term decisive moves will be seen but finally sustaining beyond Last 10 sessions trading range(24379-25116) should be watched for next bigger decisive beginning confirmations.
As many times correction is completed in sideways trading range in Bullish markets also therefore fresh upward moves beginning above 25116 can not be ruled out after last 10 sessions trading range(24379-25116) break out which will open the doors of fresh rally beginning towards life time top at 26277.30.