Minimum 10% rally after huge victory of BJP & NDA

Technical Analysis,Research & Weekly Outlook

(May 27 to May 31,2019)

Nifty-EOD Chart Analysis(Waves structure)

Nifty-EOD Chart (24-May-2019):-

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Nifty-EOD Chart Analysis(Gap support)

Nifty-EOD Chart (24-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Impulsive Wave-5 continuation with new life time top formation at 12041.10 on 23-05-2019
7- Last 5 Sessions sideways trading between 11602-12041 
8- Strong 165 points gap support formations between 11426-11591 on 20-05-2019

Nifty-Previous 6 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 17 to May 24,2019):-

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Technical Patterns formation in last 6 Sessions intraday charts
1- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
1- Whole day up moves with intraday corrections on 20-05-2019
2- Mixed Patterns formation between 11815-11883 on 21-05-2019
3- Consolidation and volatility on 22-05-2019
4- All the Down moves in Bullish Falling Channels on 23-05-2019
5- Whole day up moves with intraday corrections on 24-05-2019
6- 5 Sessions actual trading between 11600-12041 

Nifty-Intra Day Chart Analysis(24-05-2019)

Nifty-Intra Day Chart (24-May-2019):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Whole day up moves with intraday corrections
3- Whole day actual trading between 11659-11859

Conclusions from EOD chart analysis 

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11602-12041 for the last 5 Sessions

Rally is very much on and no signal of its completion yet because selling patterns have not developed yet on intraday and daily charts. 

As huge 165 points gap formed between 11426-11591 on 20-05-2019 therefore this range will be immediate strong support of Nifty.

Conclusions from 6 Sessions intra day chart analysis 

As Modi ji's strong Govt possibility emerged in Exit polls on 19-05-2019 therefore strong 165 points gap(11426-11591) up opening on 20-05-2019 and whole week sustaining above 11426 means that this gap will not be easily filled up and strong rally will remain continued above it.

Although Mixed Patterns formation between 11815-11883 on 21-05-2019 and previous week closing between it at 11844.10 but good consolidation between 11600-12041 in previous week therefore finally rally continuation above 12041 is expected in the coming weeks. 

Conclusions from intra day chart analysis 

Although firstly slipping after strong opening but down moves were in Bullish Falling Channels therefore upmoves started and closing was near the higher levels of the day. 

As whole day up moves were with continuous intraday corrections and no intraday selling patterns formation therefore on going rally continuation is expected in the coming sessions.

Conclusions (After Putting All Studies Together)

We are not telling only today for "Minimum 10% rally after huge victory of BJP & NDA" but we predicted this line again and again from 13-04-2019, its live proofs are as follows:-

Following lines were told on 13-04-2019 in "Minimum 10% rally after more than 350 seats victory of NDA on 23-05-2019":-

we are expecting more than 350 seats victory for NDA and resultant minimum 10% rally will be seen after Election results declaration day(23-05-2019) but fresh rally will begin before this date also.

(Just click at above topic link and go through whole topic)

Above topic of 350 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial News Papers "THE ECONOMIC REVOLUTION(15-04-2019 TO 21-04-2019" also. For live proofs pictures of above topic as also being posted as follows:-

1- English News Paper:-

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2- Gujarati News Paper:-

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As was told 100% same happened and NDA won 353 on 23-05-2019 as well as fresh rally begun before this date on 21-05-2019 with new life time highest formation at 11883.50.

As heavy rigging and violence by TMC in West Bengal during elections therefore we reduced a little our election results projections for NDA and told following lines on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

(Just click at above topic link and go through whole topic)

Above topic with 290 seats victory for BJP and 340 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial news papers "THE ECONOMIC REVOLUTION(20-05-2019 TO 24-05-2019" also. For live proofs pictures of above topic as also being posted as follows:-

1- English News Paper

Just click on chart for its enlarged view

Just click on chart for its enlarged view

2- Gujarati News Paper

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Just click on chart for its enlarged view

Long and Intermediate Term Trends are up but Short Term Trend has turned sideways between 11602-12041 for the last 5 Sessions after Exit Pools and Parliamentary Election results. As sentiment has turned heated due to big victory of BJP and NDA therefore Indian markets will firstly remain sideways for cooling down and prepare for more than 10% rally. 

Expected that finally 10% rally will begin and remain continued above 12000 after follow up consolidation in the coming sessions/weeks.   

Finally fresh rally above 12000 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(24-05-2019)

Nifty-Intra Day Chart (23-May-2019):-

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Technical Patterns formation in today intraday charts

1- Sharp up after Green opening
2- All the Down moves in Bullish Falling Channels
3- Whole day actual trading between 11615-12041

Conclusions from intra day chart analysis 

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019" and repeated 2 times also in this week:-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

As steep fall in Dow Jones's Futures and in most Asian and European markets started therefore sharp down moves begun in indian markets also but all the Down moves were in Bullish Falling Channels hence expected that finally fresh rally above 12000 will be seen after follow up consolidation in the coming sessions.

Finally Rally after Election results declaration led high volatility 

Intra Day Chart Analysis & Market Outlook

(23-05-2019)

Nifty-Intra Day Chart (22-May-2019):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 11707-11747
3- Intraday volatility
4- Whole day actual trading between 11683-11684

Conclusions from intra day chart analysis 

As whole day good consolidation and no selling patterns formations therefore on going rally continuation is expected after yesterday started Very Short Term correction completion today. 

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

Nifty moved above life time high yesterday and formed new life time high at 11883.50 before slipping but above mentioned projections are confirm and finally strong rally will remain continued. 

It should also be kept in mind that tomorrow is Election results declaration day and intraday volatility will be high which will be guided according to stable Govt formations possibility under Modi ji leadership therefore remin cautious also tomorrow.

Rally continuation after 1/2 sessions follow up consolidation

Intra Day Chart Analysis & Market Outlook

(22-05-2019)

Nifty-Intra Day Chart (21-May-2019):-

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Technical Patterns formation in today intraday charts

1- More than 3 hours sideways trading with Mixed Patterns formation between 11815-11883
2- All the Down moves in Bullish Falling Channels
3- Whole day actual trading between 11683-11883

Conclusions from intra day chart analysis 

As strong possibility of BJP victory emerged after Exit Polls declaration on 19-05-2019 therefore strong 3.69% rally was seen on 20-05-2019. Resultant Very Short Term indicators have turned overbought and sentiment was heated therefore following lines were told yesterday in "Finally rally above life time highest":-

"only a Very Short Term correction is expected which may be sideways also"

Although 200 points slipping from higher levels and today closing at lower levels of the day but view will not be Bearish because:- 

1- Firstly more than 3 hours sideways trading with Mixed Patterns formation and genuine selling patterns were not seen.
2- All the last hour Down moves were in Bullish Falling Channels.

As consolidation patterns formations also today therefore same view of rally continuation after 1/2 sessions follow up consolidation.

Finally rally above life time highest 

Intra Day Chart Analysis & Market Outlook

(21-05-2019)

Nifty-Intra Day Chart (20-May-2019):-

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Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Whole day up moves with intraday corrections
3- Whole day actual trading between 11592-11845

Conclusions from intra day chart analysis 

Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

As was told 100% same happened and Nifty closed at life time highest today after gap up opening and whole day up moves were seen through consolidation and intraday corrections.

As Very Short Term indicators have turned overbought after 3.69% rally therefore only a Very Short Term correction is expected which may be sideways also but finally rally above life time highest will be seen in the coming sessions.

Rally above life time high after Modi ji strong victory on 23-05-2019

Technical Analysis,Research & Weekly Outlook

(May 20 to May 24,2019)

Nifty-EOD Chart Analysis(Retracement levels)

Nifty-EOD Chart (17-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave 5 beginning from 10004.55 on 26-10-2018
2- Short Term Correction beginning after new life time top formation at 11856.15 on 18-04-2018
3- Got supports near 38.2% retracement level after recent bottom formations at 11108.30 on 14-05-2019 

Nifty-EOD Chart Analysis(Averages)
Nifty-EOD Chart (17-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave 5 beginning from 10004.55 on 26-10-2018
2- Short Term Correction beginning after new life time top formation at 11856.15 on 18-04-2018
3- Got supports near 100-Day DMA after recent bottom formations at 11108.30 on 14-05-2019 

Nifty-Previous 7 Sessions intraday charts analysis
Nifty-Intra Day Chart (May 09 to May 17,2019):-

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Technical Patterns formation in last 7 Sessions intraday charts

1- Consolidation Patterns formation on 9th and 10th May
2- Mixed Patterns formation on 13th May
3- Consolidation on 14th May
4- Mixed Patterns formation on 15th May
5- Consolidation on 16th May
6- Whole day consolidation on 17th May
7- 7 Sessions actual trading between 11109-11426 

Nifty-Intra Day Chart Analysis(17-05-2019)
Nifty-Intra Day Chart (17-May-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 11287-22325
2- Intraday correction
3- Down moves in Bullish Falling Channel
4- Sharp up in last hour
5- Whole day actual trading between 11260-11426

Conclusions from EOD chart analysis(Retracement levels & Averages) 

The Short Term Correction which begun after new life time top formation at 11856.15 on 18-04-2018 stopped at 11108.30 on 14-05-2019. As correction paused near crucial 38.2% retracement level and 100-Day DMA therefore strong indications of correction completion at 11108.30 on 14-05-2019.   

Conclusions from 7 Sessions intra day chart analysis

As crashing like situation in all the Global markets in previous weeks due to US-China trade war therefore Indian markets also slipped fast but without intraday selling patterns formation and with consolidation/Mixed patterns formations also hence strong rally was seen last Friday which is strong signal of correction completion after closing above last 7 sessions trading range.

Conclusions from intra day chart analysis(17-05-2019) 

Firstly consolidation through sideways trading between 11287-22325 and after that whole day up moves through intraday correction and follow up consolidation through down moves in Bullish Falling Channel as well as sharp up in last hour therefore last Friday started rally continuation is expected in the beginning of next week.

Conclusions (After Putting All Studies Together)

As all the Global markets started to crash after US-China tariff war therefore correction started in Indian markets also but following developments on EOD and intraday charts are suggesting strong indications of correction completion at 11108.30 on 14-05-2019:-

1- Nifty got supports near crucial 38.2% retracement level   
2- Nifty got supports near 100-Day DMA 
3- 7 Previous sessions trading range broken out on 17-05-2017
4- Last Friday closing was above 7 sessions highest after whole day intraday consolidation.

It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-

1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.

Markets are prepared for fresh,strong and powerful rally

Intra Day Chart Analysis & Market Outlook

(17-05-2019)

Nifty-Intra Day Chart (16-May-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 11144-11190 
2- Intraday correction in last hour
3- Whole day actual trading between 11144-11281

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly watch levels for the life of on going correction":-

firstly sustaining beyond 11109-11286 should be watched in the coming sessions for the life of on going correction

Nifty traded whole day today within above mentioned trading range with good consolidation between 11144-11190. As good consolidation was between 11109-11155  on 14-05-2019 and Nifty consolidated within and above it today therefore supports above 11109 have been strengthened and until complete selling will not develop till then Nifty will not sustain below 11109.

As Indian markets will react in next week on Exit Poll results and Election results therefore volatility may remain high during uncertainity but once sustaining above 11190 will mean fresh rally after ongoing correction completion. 

As Indian markets have formed base at lower levels in this week therefore Indian markets are well prepared for fresh,strong and powerful rally which will be seen after Modi ji's confirmation on PM post.

Firstly watch levels for the life of on going correction

Intra Day Chart Analysis & Market Outlook

(16-05-2019)

Nifty-Intra Day Chart (15-May-2019):-

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Technical Patterns formation in today intraday charts
1- Mixed Patterns formation between 11202-11286
2- Sharp fall in last hour
3- Whole day actual trading between 11137-11286

Conclusions from intra day chart analysis 

Although almost whole day positive zone trading but sharp fall in last hour because fast slipping of Dow Jones's Futures and all European markets was seen in last hour. 

As good consolidation between 11109-11155 yesterday therefore it will be immediate supports of Nifty but more than 5 hours trading with Mixed Patterns formation between 11202-11286 also today hence Nifty has to trade and prepare for next decisive moves within 11109-11286.

Correction is on and no confirmation of its completion yet as well as all the Global markets are dancing on the tunes of US-China trade war therefore firstly sustaining beyond 11109-11286 should be watched in the coming sessions for the life of on going correction because indian markets will have to react in next week on Exit Poll results and Election results also. 

Today started rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(15-05-2019)

Nifty-Intra Day Chart (14-May-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 11109-11155
2- Sharp up moves
3- Volatility in last hour
4- Whole day actual trading between 11109-11294

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Let Global markets crashing stop then sharp rally in Indian markets":-

Let Global markets crashing stop then sharp rally will be seen in Indian markets because good intraday consolidation in last 3 sessions. 

As soon as Dow Jones'S futures started to trade positive today morning then indian markets started to consolidate and sharp rally started immediately after strong opening of European markets.

As more than 3 hours consolidation between 11109-11155 therefore it will be immwdiate support of Nifty and expected that today today started rally will remain continued in the coming sessions also. 

Let Global markets crashing stop then sharp rally in Indian markets

Intra Day Chart Analysis & Market Outlook

(14-05-2019)

Nifty-Intra Day Chart (13-May-2019):-

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Technical Patterns formation in today intraday charts

1- More than 6 hours trading with Mixed Patterns formation between 11225-11300
2- Sharp fall in last half hour
3- Whole day actual trading between 11126-11300

Conclusions from intra day chart analysis 

As following most negative news today morning therefore Dow Jones"s Futures was traded whole day today more than 250 points down and resultant all the Asian markets and European markets were trading in Deep Red therefore initial weakness was seen in Indian markets also.

China Trade War Escalates, Korean Missile Test, Is Biden A Threat To Trump

Although more than 6 hours trading with Mixed Patterns formation but sudden fall in last half hour because sharp down moves started in Dow Jones"s Futures due to following news break out:- 

1- US-China trade war heats up as Trump hikes tariffs
2- Trade war: Wall Street tumbles to two-month low as China hits back

As above mentioned most negative news and resultant all the US and European markets are now crashing therefore in reaction Indian markets may also trade in negative zone despite but let Global markets crashing stop then sharp rally will be seen in Indian markets because good intraday consolidation in last 3 sessions. 

Fresh Rally expectations in next week

Technical Analysis,Research & Weekly Outlook

(May 13 to May 17,2019)

Nifty-EOD Chart Analysis
Nifty-EOD Chart (10-May-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Short Term Correction beginning after new life time top formation at 11856.15 on 18-04-2018
7- Correction continuation with recent bottom formations at 11251.00 on 10-05-2019 

Nifty-Previous 2 Sessions intraday charts analysis
Nifty-Intra Day Chart (May 09 & May 10,2019)

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Technical Patterns formation in last 2 Sessions intraday charts

1- 3 Hours Down moves in Bullish Falling Channel on 09-05-2019 
2- Down moves in Bullish Falling Channels on 10-05-2019 
3- Intraday volatility in both sessions
4- 2 Sessions actual trading between 11251-11357 

Conclusions from EOD chart analysis 

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is down.

Conclusions from Previous 2 Sessions intra day chart analysis 

As all the Global markets were highly volatile due to fast developments in US-China trade talks and Donald Trump statements therefore volatility was seen in Indian markets also and it should be kept in mind that technical positions reverses in previous week like news based high volatility. 

Although both previous sessions have closed in Red but genuine selling patterns were not seen and on the contrary consolidation was seen through Down moves in Bullish Falling Channels therefore emergence of Pull Back Rally possibility in the beginning of next week.

Conclusions (After Putting All Studies Together)

Long and Intermediate Term Trends are up and Short Term Trend has turned down in previous week but in the flow of crashing Global markets which was due to US-China tarrif war news. As previous week correction was only due to that negative news which don't have direct impact on Indian economy therefore once settlement of US-China tarrif war will mean fresh rally beginning.

As last 2 sessions trading was sidewways with consolidation patterns formations between 11251-11357 therefore expected that fresh Rally above 11357 will be seen in next week.  

Rally expectations after final settlement of US-China trade talks 

Intra Day Chart Analysis & Market Outlook

(10-05-2019)

Nifty-Intra Day Chart (09-May-2019):-

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Technical Patterns formation in today intraday charts

1- 3 Hours Down moves in Bullish Falling Channel 
2- Intraday volatility
3- Whole day actual trading between 11256-11357

Conclusions from intra day chart analysis 

As following  most negative news today morning therefore Dow's Futures was trading more than 150 points down today morning and all the Asian markets were in deep Red resultant weaker opening of Indian markets and slipping below crucial supports range

Trump: China 'broke the deal' in trade talks

As above mentioned most negative news therefore all the Global markets are being crashed in this weeek and indian markets are also participating despite consolidation patterns formations.

Although consolidation was also seen through 3 hours Down moves in Bullish Falling Channel today but closing is just below crucial supports(11315) therefore emergence of correction continuation signals.

Lets wait for final settlement of US-China trade talks and then life of correction will be considered but still expected that finally on going rally will remain continued and sharp up moves  

may be seen any day which will be correction completion strong indication.

Firstly Watch 11375 amid emergence of Pull Back rally possibility

Intra Day Chart Analysis & Market Outlook

(09-05-2019)

Nifty-Intra Day Chart (08-May-2019):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel 
2- Whole day actual trading between 11347-11447

Conclusions from intra day chart analysis 

As all the Asian markets were trading in Red after Dow Jones slipping 473 points therefore gap down opening of Indian markets. Although today closing was at lower levels of the day but all the down moves were in Bullish Falling Channels therefore emergence of Pull Back rally possibility in the coming sessions.

Following lines were told yesterday in "Levels will confirm deeper correction amid crashing like Global markets":-

Next supports below today lowest are as follows:- 

1- 11425-11460
2- 11315-11375(55-Day SMA is lying within this range)

As 55-Day SMA is lying within 2nd supports range therefore it has become crucial supports range and finally sustaining it beyond will confirm deeper correction beginning or correction completion.

As today closing is also within above mentioned 2nd supports range therefore firstly sustaining beyond 11315-11375 should be watched in the coming sessions. As emergence of Pull Back rally possibility also therefore once sustaining above 11375 will mean fresh rally after on going correction completion.  

Levels will confirm deeper correction amid crashing like Global markets

Intra Day Chart Analysis & Market Outlook

(08-05-2019)

Nifty-Intra Day Chart (07-May-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11592-11647(immediate resistances)
2- Down moves in last hours
3- Whole day actual trading between 11485-11657

Conclusions from intra day chart analysis 

As Dow's Futures was trading in Red and most Asian markets were also in negative zone therefore fresh selling was seen between 11592-11647 and Nifty slipped below 23 previous sessions lowest(11550) in last hours down moves because all the European markets also opened weak.  

As last 2 sessions down moves were due to negative news(US-China trade tariff) led and resultant all the Global markets were also weak therefore sustaining below 23 previous sessions lowest(11550) should also be watched for strong signals of deeper correction beginning. Next supports below today lowest are as follows:- 

1- 11425-11460
2- 11315-11375(55-Day SMA is lying within this range)

As 55-Day SMA is lying within 2nd supports range therefore it has become crucial supports range and finally sustaining it beyond will confirm deeper correction beginning or correction completion.

अक्षय तृतीया की हार्दिक शुभकामनाएं !!!

Firstly watch levels amid rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(07-05-2019)

Nifty-Intra Day Chart (06-May-2019):-

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Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 11609-11632
2- Sideways trading in last hours
3- Whole day actual trading between 11572-11632

Conclusions from intra day chart analysis 

As following most negative news and all the Asian markets were in deep Red today morning resultant gap down opening of Indian markets today:-  

Dow futures drop more than 450 points as China considers skipping trade talks after Trump threat

(Just click at above topic link and go through whole news)

Although closing near the lower levels of the day but whole day today trading was news based and Mixed Patterns formation as well therefore firstly sustaining beyond today trading range(11572-11632) should be firstly watched in the coming sessions for next decisive moves first signal/confirmations.

As strong supports are lying above 11550 therefore until Nifty will not sustain below it till then any type of depper correction will not be seen but still expected that finally on going rally will remain continued without sustaining below 11550.

Finally rally above Life Time Highs after follow up consolidation

Technical Analysis,Research & Weekly Outlook

(May 06 to May 10,2019)

Nifty-EOD Chart Analysis

Nifty-EOD Chart (03-May-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Impulsive Wave-5 continuation with new life time top formation at 11856.15 on 18-04-2018
7- 22 Sessions sideways trading between 11550-11811 near life time highs

Nifty-Previous 22 Sessions intraday charts analysis
Nifty-Intra Day Chart (Mar 29 to May 03,2019):-

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Technical Patterns formation in last 22 Sessions intraday charts

1- 22 Sessions sideways trading with lower levels supports and higher levels resistances
2- Supports between 11550-11611 
3- Supports between 11662-11693
4- Resistances between 11749-11811
5- 22 Sessions actual trading between 11550-11811 

Nifty-Intra Day Chart Analysis(03-05-2019)
Nifty-Intra Day Chart (03-May-2019):-

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Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 11732-11770
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 11700-11770

Conclusions from EOD chart analysis 

Long and Intermediate Term Trends are up but Short Term Trend is sideways near life time highs between 11550-11811 for the last 22 Sessions means that indian markets are preparing for next big moves beyond this range.

Conclusions from 22 Sessions intra day chart analysis 

Last 22 Sessions like big sideways trading between 11550-11811 is suggesting that Indian markets are preparing for next big moves. As lower levels good supports and higher levels resisatnces also within this range therefore nifty will firstly trade and prepare for next decisive moves within this range in next week.

Conclusions from intra day chart analysis 

Although closing near the lower levels of the day after last hours down moves but view will not be bearish because down moves were in Bullish Falling Channel and before it more then 4 hours trading was with Mixed Patterns formation and genuine selling was not seen.

Conclusions (After Putting All Studies Together)

It is confirm that Indian markets are preparing for very very big moves for the last 22 sessions between 11550-11811. As these sideways moves are near life time highs therefore it is confirm that finally sustaining beyond or forceful break out of 11550-11811 will mean more that 10% sharp moves which will be seen just before or after Parliamentary results(23-05-2019)

As per our own analysis BJP will win more than 300 and NDA will win more than 350 seats as well as lower levels good supports lave also developed above 11550 in last 22 sessions therefore expected that finally strong rally will be seen above life time highs(11856.15) but follow up consolidation is also required in next week because resistances are also lying betweeen 11749-11811.

Firstly sideways trading and finally rally

Intra Day Chart Analysis & Market Outlook

(03-05-2019)

Nifty-Intra Day Chart (02-May-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 11749-11789(immediate resistances)
2- Whole day actual trading between 11700-11789

Conclusions from intra day chart analysis 

As higher levels intraday selling today therefore finally slipping and closing at the lower levels of the day today but sharp down moves are not expected tomorrow because following strong supports also lying below today lowest:-

1- 11662-11693
2- 11550-11611

As previous supports are between 11662-11693 and immediate resistances are between 11749-11789 therefore expected that firstly Nifty will trade sideways and prepare for next decisive moves between(11662-11789) and sustaining it beyond will confirm next trend but expected that finally strong rally will be seen after follow up consolidation in the coming sessions.

Pre-open Outlook(02-05-2019)

As US markets slipped fast in last hours after FOMC decision yesterday therefore sentiment is weak today morning and resultant firstly flat to weaker opening and trading within following sopports and resistances(11611-11811) is expected today:-

1- Supports between 11550-11611
2- Resistances between 11754-11811

Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(02-05-2019)

Nifty-Intra Day Chart (30-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 11656-11720
2- Whole day actual trading between 11656-11756

Conclusions from intra day chart analysis 

As most Asian markets were trading in Red therefore firstly slipping after opening but 5 hours consolidation between 11656-11720 therefore it will be immediate supports of Nifty and on going rally continuation is expected in the coming sessions.  

Finally rally continuation with new life time high formations 

Technical Analysis,Research & Weekly Outlook

(Apr 30 to May 03,2019)

Nifty-EOD Chart (26-Apr-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Impulsive Wave-5 continuation with new life time top formation at 11811.15 on 18-04-2018

Previous 19 Sessions intraday charts analysis

Nifty-Intra Day Chart (Mar 29 to Apr 26,2019):-

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Technical Patterns formation in last 19 Sessions intraday charts
1- 19 Sessions sideways trading with lower levels supports and higher levels resistances
2- Supports between 11550-11611(Immediate Supports)
3- Resistances between 11754-11811
4- 19 Sessions actual trading between 11550-11811 

Intra Day Chart Analysis(26-04-2019)

Nifty-Intra Day Chart (26-Apr-2019):-

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Technical Patterns formation in today intraday charts

1- More than 4 hours consolidation between 11662-11693
2- Sharp up moves
3- Whole day actual trading between 11662-11762

Conclusions from EOD chart analysis 

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11550-11811 for the last 19 Sessions

Rally is very much on and no signal of its completion yet but Short Term Trend is sideways between 11550-11811 for the last 19 sessions therefore finally sustaining it beyond will confirm next big moves which should be firstly watched in next month.

Conclusions from 19 Sessions intra day chart analysis 

Last 19 Sessions like big sideways trading between 11550-11811 is suggesting that Indian markets are preparing for next big moves. As lower levels supports and higher levels resisatnces have also developed within this range therefore nifty will firstly trade and prepare for next decisive moves within this range in the beginning of next week.

Conclusions from intra day chart(26-04-2019) analysis 

As firstly More than 4 hours consolidation between 11662-11693 and after that sharp moves and intraday selling was not seen therefore expected that last Friday started rally will remain continued in the beginninng of next week.

Conclusions (After Putting All Studies Together)

Finaly sustaining beyond last 19 Sessions trading range(11550-11851) will confirm next big trend which will be seen in next month just before or after Parliamentary Elections 2019 results date(23-05-2019) 

In fact Indian markets are preparing for post Election results next decisive moves within 11550-11811 and it will take its own time but expected that finally rally with new life time high formations will remain continued after follow up consolidation in the coming sessions.