Finally Upward moves expectations after on going Short Term correction completion
Technical Analysis,Research & Weekly
Outlook(Mar 24 to Mar 28,2025)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (28-Mar-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 21964.60 on 04-03-2025 and Impulsive Wave-(v) of Wave-3 beginning.
12- Impulsive Wave-(v) of Wave-3 continuation with recent top formations at 23869.60 on 25-03-2025.
Conclusions from EOD chart analysis
(Waves structure)
Impulsive Wave-1 of new Waves structure begun from 15183.40 on 17-06-2022 after corrective Wave-C of "ABC correction" of previous waves structure completion at this level. Impulsive Wave-1 started from this level which completed at 18887.60 on 01-12-2022 and from this level corrective Wave-2 begun which completed at 16828.30 on 20-03-2023.
Impulsive Wave-(i) of Wave-3 stated from this level which 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 and from this levels corrective Wave-C of Wave-(iv) of Wave-3 begun which completed at 21964.60 on 04-03-2025 and Impulsive Wave-(v) of Wave-3 started from this level which is in continuation now with recent top formations at 23869.60 on 25-03-2025.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (28-Mar-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 from Over bought zone.
2- Stochastic:- %K(5)- 47.67 & %D(3)- 64.16.
3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive zone.
4- MACD(26,12)- 575.38 & EXP(9)- 206.85 & Divergence- 368.53
Conclusions from EOD chart analysis
(Stochastic & MACD)
Technical positions of Short Term indicators are as follows:-
1- As in Short Term indicator Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore it will be understood that this indicator is confirming Short Term correction which was seen in previous week and may be seen in the coming week also but may be sideways also because many times Bull markets completes its Short Term correction in few sessions sideways markets also.
2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive zone therefore it will be understood that this indicator is confirming Short Term upward trend formations and resultant on going upward moves continuation possibility also.
Nifty-Weekly Chart Analysis
(Stochastic & MACD)
Nifty-Weekly Chart (28-Mar-2025):-
Technical Patterns and Formations in Weekly charts
1- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising from Over sold zone.
2- Stochastic:- %K(5)- 68.32 & %D(3)- 46.69.
3- In MACD- MACD line has intersected Average line upward and its both lines are rising in negative zone.
4- MACD(26,12)- -629.92 & EXP(9)- -749.72 & Divergence- 119.8
Conclusions from Weekly chart analysis
(Stochastic & MACD)
Technical positions of Intermediate Term indicators are as follows:-
1- As in Intermediate Term indicator Stochastic %K(5) line has intersected %D(3) line upward and its both lines are rising from Over sold zone therefore it will be understood that this indicator is confirming upward moves continuation possibility.
2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in negative zone therefore it will be understood that this indicator is strongly signalling Intermediate Term upward trend formations and resultant upward moves continuation possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (28-Mar-2025):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 23585(Very Short Term Trend decider)
2- 21-Day SMA is today at 22802(Short Term Trend decider)
3- 55-Day SMA is today at 23024(Intermediate Term Trend decider)
4- 100-Day SMA is today at 22488
5- 200-Day SMA is today at 24082(Long Term Trend decider)
Conclusions from EOD chart analysis
(Averages)
Short and Intermediate Term Trends have turned up after Nifty sustaining above its deciders 21-Day SMA and 55-Day SMA in previous week. As Nifty has hovered around 100-Day SMA in all the 5 sessions of previous week and Long Term Trend decider 200-Day SMA is less than 600 points above 100-Day SMA therefore once sustaining above it will mean testing possibility of 200-Day SMA which will decide next Long Term Upward Trend formations or not. Firstly sustaining beyond 100-Day SMA should be watched in the coming week for Long Term Trend formation initial indications and finally according to that next Long Term decisive moves beginning confirmations.
Nifty-Last 5 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Apr 01 to Apr 04,2025):-
Technical Patterns formation in last 5 Sessions intraday charts
1- Selling(Resistances) in last 5 Sessions are as follows:-
A- 23664-23736
B- 23791-23851
2- Consolidation(Supports) in last 5 Sessions are as follows:-
A- 23455-23529
B- 23446-23511
3- Last 5 Sessions trading between 23413-23869
Conclusions from 5 Sessions
intra day chart analysis
Last 5 Sessions of previous week trading between 23413-23869 with above mentioned Supports and Resistances. As these supports seems almost equal strong therefore expected that Nifty will firstly trade within and near about this last 5 sessions trading range and finally sustaining beyond this last 5 Sessions trading range should be watched in the coming week for next bigger moves beginning confirmations.
Conclusions (After putting
all studies together)
1- Short Term Trend is up.
2- Intermediate Term Trend is up.
3- Long Term Trend is down.
Impulsive Wave-(iii) of Wave-3 of that Waves structure completed at 26277.30 on 27-09-2024 of which Wave-1 of new Waves structure started from 15183.40 on 17-06-2022. Now its Impulsive Wave-(v) of Wave-3 continuation with recent top formations at 23869.60 on 25-03-2025.
As Intermediate Term MACD indicator is strongly signalling Intermediate Term upward trend formations and Short Term MACD indicator is confirming Short Term upward trend formations as well as Intermediate Term Stochastic indicator is also confirming upward moves continuation possibility therefore finally Upward moves will be seen after Short Term correction completion because Short Term Stochastic indicator is signalling Short Term correction possibility which may be sideways also as some times it happens in Bullish markets.
Averages are confirming that Short and Intermediate Term Trends are up and once sustaining above 100-Day SMA will mean stronger testing possibility of Long Term Trend decider 200-Day SMA therefore:-
1- Sustaining beyond 100-Day SMA should be watched for next decisive moves beginning confirmations towards Long Term Trend decider 200-Day SMA or not.
2- Firstly Sustaining beyond Last 5 Sessions trading range(23413-23869) should also be watched for first strong indication of next decisive moves beginning towards 200-Day SMA or not.
Although precautionary above mentioned both levels should be watched but expected that finally decisive upward moves will be seen above 200-Day SMA after Long Term upward Trend formation confirmations.
