As busy therefore Stock Market Outlook of today(10-12-2021) is not being updated.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
17509-17634 will confirm next Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(09-12-2021)
Nifty-Intra Day Chart (08-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Whole day up moves with downward corrections
2- Whole day actual trading between 17309-17484
Conclusions from intra day chart analysis
As US markets closed strong yesterday and its Futures were trading in Green also therefore sentiment turned strong today morning hence firstly gap up opening in Indian markets and after that whole day up moves were with downward corrections.
Although only consolidation patterns formations and selling were not seen today but next strong resistances are lying just above today highest between 17509 and 17634 and Very Short Term indicators have turned Overbought also therefore complete fresh consolidation is required for rally above 17634.
Expected that Nifty will firstly trade near about today highest and prepare for next decisive moves. Firstly sustaining beyond 17509-17634 should be watched in the coming sessions for confirming next Trend.
Sustaining beyond 17179-17251 will confirm the fate of today started rally
Nifty-Intra Day Chart Analysis &
Market Outlook(08-12-2021)
Nifty-Intra Day Chart (07-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Up moves with downward corrections
2- Selling between 17179-17251
3- Whole day actual trading between 16988-17251
Conclusions from intra day chart analysis
Following lines were told yesterday in "Jump expectations towards 17108":-
1- a Jump is expected towards 17108 tomorrow
2- until Nifty will not sustain above 17190 till then decisive up moves will not be seen.
As was told yesterday 100% same happened in following manners today:-
1- A Jump was seen towards and above 17108 today
2- As per our doubt Nifty could not sustain above 17190 and closed below it at 17176.70 after higher levels selling.
Although firstly 132 Points strong opening and after that up moves with downward corrections also but higher levels selling was also seen therefore slipping from higher levels in last hour.
As selling between 17179-17251 today therefore firstly Nifty will have to trade and prepare for next decisive moves beyond this range and that will be done within and near about 17179-17251 tomorrow hence firstly sustaining it beyond should be watched in the coming sessions for the fate of today started rally.
Jump expectations towards 17108
Nifty-Intra Day Chart Analysis &
Market Outlook(07-12-2021)
Nifty-Intra Day Chart (06-Dec-2021):-
Technical Patterns formation in today intraday charts
1- 70 Points sharp fall in first minute after positive opening
2- Selling between 17108-17190
3- More than 4 hours down moves with upward corrections
4- Whole day actual trading between 16892-17216
Conclusions from intra day chart analysis
Down moves in this week were told in following lines on 04-12-2021 in "Sustaining below 16783 will confirm correction towards 200-Day SMA":-
1-down moves will be seen in the beginning of next week
2-more down moves in the beginning of next week
3-some more down moves are expected in next week
As was told on 04-12-2021 same 100% happened today and Nifty crashed 284 points today.
Although today closing was near the lower levels of the day but Very Short Term indicators have turned Oversold therefore a Jump is expected towards 17108 tomorrow and until Nifty will not sustain above 17190 till then decisive up moves will not be seen.
Sustaining below 16783 will confirm correction towards 200-Day SMA
Technical Analysis,Research & Weekly Outlook
(Dec 06 to Dec 10,2021)
Only we told in whole world that:-
1- "Maximum target of Nifty at 18793.00 on 27-09-2021"when Nifty lifetime highest was at 17947.65.
2- "Maximum target of Nifty at 18793.00 on 14-10-2021"when Nifty lifetime highest was at 18350.75.
3- "Nifty above 18000 before DIWALI-2021" on 10-11-2020 in DIPAWALI ISSUE(2020) of The Economic Revolution" when Nifty lifetime highest was at 12643.90.
Live Proofs of our above 100% accurate predictions:-
Nifty-EOD Chart Analysis
(Corrective Waves)
Nifty-EOD Chart (03-Dec-2021):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-1 begun from 7511.10 on 24-03-2020 and its Impulsive Wave-5 completed after new life time top formation at 18604.50 on 19-10-2021 and "ABC" correction begun to correct whole rally from 7511.10 to 18604.50.
2- Wave-1 of Wave-A- 17613.1 on 29-10-2021
3- Wave-2 of Wave-A- 18210.2 on 15-11-2021
4- Wave-3 of Wave-A- 16782.4 on 29-11-2021
5- Wave-4 of Wave-A- 17489.8 on 03-12-2021
6- Corrective Wave-A continuation with recent bottom formations at 16782.40 on 29-11-2021
Conclusions from EOD chart analysis
(Corrective Waves)
As Impulsive Wave-5 completion confirmation therefore Wave-"A" of "ABC" correction beginning confirmation as well from 18604.50 on 19-10-2021 and now its continuation with recent bottom formation at 16782.40 on 29-11-2021.
Wave-4 of Wave-A is on with recent top formation at 17489.8 on 03-12-2021 but its completion indication generated on on 03-12-2021 after "Dark Cloud Cover Bearish candle" formation on EOD chart.
Nifty-EOD Chart Analysis
(Averages,Stochastic & MACD)
Nifty-EOD Chart (03-Dec-2021):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021
2- Correction continuation with recent bottom formations at 16782.40 on 29-11-2021
3-Averages
A- 5-Day SMA is today at 17160
B- 21-Day SMA is today at 17634
C- 55-Day SMA is today at 19789
D- 200-Day SMA is today at 16134
4- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising towards Over bought zone.
5- Stochastic:- %K(5)- 68.26 & %D(3)- 53.61
6- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
7- MACD(26,12)- -198.42 & EXP(9)- -147.14 & Divergence- -51.30
Conclusions from EOD chart analysis
(Averages,Stochastic & MACD)
As Nifty has sustained below 55-Day SMA(19789) therefore Intermediate Term Trend turning down confirmation which means minimum 3 weeks to 3 months long correction but Long Term Trend is still up because Nifty is more than 1000 points above it and not tested it yet during on going correction.
In Stochastic both lines are moving up after upward intersection and not turned Over bought yet therefore suggesting some up moves possibilities but some times in Bear markets its both lines starts to move down without testing Over bought zone therefore this possibility should also be kept in mind.
MACD is confirming Downward Trend because MACD line has intersected Average line downward and its both lines are falling in negative zone.
Nifty-Last 9 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Nov 23 to Dec 03,2021):-
Technical Patterns formation in last 9 Sessions intraday charts
1- Selling(Resistances) in last 9 Sessions are as follows:-
A- 17353-17410
B- 17448-17485
C- 17509-17600
2- Consolidation(Supports) in last 9 Sessions are as follows:-
A- 17039-17160
B- 16953-17011
3- 9 Sessions actual trading between 16783-17600
Conclusions from 9 Sessions
intra day chart analysis
Nifty traded within 737 points in last 9 sessions with above mentioned supports and resistances between 16783-17600. As both supports and resistances strong therefore Nifty will firstly trade within this range and prepare for next decisive big moves beyond it.
Nifty-Intra Day Chart Analysis
(03-Dec-2021)
Nifty-Intra Day Chart (03-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 17448-17485
2- More than 2 hours selling between 17353-17410
3- Down moves with upward corrections
4- Whole day actual trading between 17181-17489
Conclusions from intra day chart analysis
As firstly selling immediately after opening and after that more than 2 hours selling as well as selling through Down moves with upward corrections till last hour therefore whole day selling will be understood last Friday and resultant down moves will be seen in the beginning of next week.
Conclusions (After putting all studies together)
1- Long Term Trend is up.
2- Intermediate Term Trend is down.
3- Short Term Trend is sideways between 16783-17600 for the last 9 Sessions.
Maximum target of Nifty at 18793.00 was told with calculations of Nifty Waves structure and Nifty slipped 1822 points from higher levels which is suggesting that "ABC" correction of whole rally between 7511.10-18604.50 is on and its retracement levels have already been updated in Previous week weekly Outlook.
Although Stochastic is suggesting some up moves possibility but MACD is showing Downward trend as well as last Friday intraday charts are also telling for more down moves in the beginning of next week therefore firstly sustaining beyond last 9 sessions trading range lowest(16783) should be watched in next week for more decisive down moves beginning confirmations but complete fresh selling is required for sustaining below 16783 because supports above it are sufficiently strong.
Dark Cloud Cover Bearish candle" formation on EOD chart last Friday therefore some more down moves are expected in next week. Firstly and firstly sustaining beyond last 9 sessions trading range lowest(16783) should be watched in next week because once sustaining below it will mean correction towards 200-Day SMA(16134) for deciding Long Term Trend.
17284 will confirm down moves
towards next supports
Mid-session Outlook(03-12-2021)
Following lines were told in "Rally towards next resistances"for Today (03-12-2021) market:-
up moves were seen in last hours which will remain continued towards next resistances(17509-17600) in the coming sessions.
Following lines were told in "17213 will confirm strong rally"for yesterday(02-12-2021) market:-
once sustaining above today highest(17213) will mean strong indication of Pull back rally towards next resistances(17509-17600)
Rally towards 17509 was told in both previous Outlooks which completed just below it at today highest(17489.8) and after that Nifty slipped 200 points from 17489.8 as well as traded at 17285 today.
4 Hours consolidation was seen between 17284-17374 yesterday and once sustaining below it will mean down moves towards next supports between 17039-17160
Rally towards next resistances
Nifty-Intra Day Chart Analysis &
Market Outlook(03-12-2021)
Nifty-Intra Day Chart (02-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Up moves after flat opening
2- 4 Hours consolidation between 17284-17374
3- Sharp up moves in last hours
4- Whole day actual trading between 17150-17420
Conclusions from intra day chart analysis
Although US crash led depressed sentiment in the morning but Indian markets moved into Green and traded will good gains after flat opening because good intraday consolidation was seen one day before.
As 4 Hours consolidation between 17284-17374 in the Mid-session therefore sharp up moves were seen in last hours which will remain continued towards next resistances(17509-17600) in the coming sessions.
17065-17213 will confirm next decisive moves
Pre-open Outlook(02-12-2021)
As Dow Jones which was once trading 500 points up has slipped more than 1000 points and traded 477 points down also therefore sentiment has turned extremely weak and its impact will be seen in all the Asian markets.
Although good intraday consolidation was seen in Indian markets yesterday but US markets crash led weakness will be seen and Indian markets will also open weak. As good intraday consolidation was seen between 17065-17213 yesterday therefore firstly sustaining it beyond whould be watched tdday for next decisive moves confirmations.
17213 will confirm strong rally
Nifty-Intra Day Chart Analysis &
Market Outlook(02-12-2021)
Nifty-Intra Day Chart (01-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Sharp up moves
3- Whole day actual trading between 17065-17213
Conclusions from intra day chart analysis
As Good consolidation through Down moves in Bullish Falling Channels till 02;15 PM therefore Sharp up moves were seen after that and today closing was near the higher levels of the day.
Expected that up moves above today closing will be seen tomorow also and once sustaining above today highest(17213) will mean strong indication of Pull back rally towards next resistances(17509-17600) because Nifty traded most time below 17213 in last 4 sessions and its break out confirmation will generate such up moves.
17039-17160 Break out/down
will confirm next
Short Term moves
Nifty-Intra Day Chart Analysis &
Market Outlook(30-11-2021)
Nifty-Intra Day Chart (29-Nov-2021):-
Technical Patterns formation in today intraday charts
1- 273 Points sharp fall in first 9 minutes after positive opening
2- 365 Points strong recovery in next 2 hours
3- Last 4 hours sideways trading between 17039-17160
4- Whole day actual trading between 16783-17160
Conclusions from intra day chart analysis
Although firstly 365 points huge volatility till 11:30 AM but after that last 4 hours sideways trading between 17039-17160 for next Short Term moves preparation which will be done tomorrow. Let Nifty prepare and sustain beyond 17039-17160 then will be decided according to breaking out/down side direction.
As finally sustaining beyond 17039-17160 will confirm next Short Term moves towards following next supports and resistances therefore should be watched for confirmations:-
Supports:-
1-16722-16764
2-16590-16685
Resistances;-
1-17233-17355
2-17509-17600
"ABC" correction continuation
according to Fibonacci Retracement levels
Technical Analysis,Research & Weekly
Outlook(Nov 29 to Nov 03,2021)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (26-Nov-2021):-
Technical Patterns and Formations in EOD charts
1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020
2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020
3- Corrective Wave-2 completion at 10790.20 on 24-09-2020
4- Impulsive Wave-3 completion at 15431.8 on 16-02-2021
5- Corrective Wave-4 completion at 14151.4 on 22-04-2021
6- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021
7- Correction continuation with recent bottom formations at 16985.70 on 26-11-2021
Conclusions from EOD chart analysis
(Waves structure)
Impulsive Wave-1 started from 7511.10 on 24-03-2020 remained continued till its 5th Wave completion at 18604.50 on 19-10-2021. As Wave-5 completed therefore "ABC" Correction of this wave started which is in continuation and no indication of its completion yet on EOD charts.
Nifty-EOD Chart Analysis
(Fibonacci retracement levels)
Nifty-EOD Chart (26-Nov-2021):-
Technical Patterns and Formations in EOD charts
1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020
2- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021
3- Fibonacci Retracement levels from Wave-1 to Wave-5(7511.10-18604.50)
13.0%-17,162.40
23.6%-15,986.42
27.0%-15,609.30
38.2%-14,366.79(Crucial)
50.0%-13,057.77(Crucial)
61.8%-11,748.76(Crucial)
70.7%-10,761.50
76.4%-10,129.10
78.6%- 9,885.09
88.6%- 8,775.75
Conclusions from EOD chart analysis
(Fibonacci retracement levels
Waves structure which started from 7511.10 on 24-03-2020 through its Impulsive Wave-1 beginning had been completed after its Impulsive Wave-5 completion at 18604.50 on 19-10-2021. As "ABC" correction of this whole Waves structure(7511.10-18604.50) will be seen according to above mentioned Fibonacci Retracement levels therefore should be watched in the coming weeks and months for next Short to Long Term Trends confirmations.
Nifty-Intra Day Chart Analysis
(26-Nov-2021)
Nifty-Intra Day Chart (26-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 17233-17355
2- Selling between 17132-17207
3- 100 Points sharp fall in last hour
4- Whole day actual trading between 16986-17355
Conclusions from intra day chart analysis
As higher levels good selling in last 3 sessions and Global markets were also too much depressed therefore firstly slipping after huge gap down opening and after that continuous selling developed till 03:00 PM hence 100 Points sharp fall was seen in last hour as well as closing was at the lower levels of the day.
Certainly good intraday selling developed last Friday therefore correction continuation is expected in next week also.
Conclusions(After putting
all studies together)
1- Long Term Trend is up.
2- Intermediate Term Trend is down
3- Short Term Trend is down.
"ABC" correction of whole waves structure from 7511.10 to 18604.50 is very much on and no indication of its completion yet on EOD and intraday charts therefore correction continuation is expected towards following supports in the coming weeks/months.
1-16852-16885
2-16722-16764(Gap support)
3-16590-16685(Strong supports)
Resistances above last Friday closing are as follows:-
1-17132-17207
2-17233-17355
3-17509-17600
Following lines were told in previous week weekly Outlook on 20-11-2021 in "17453 will confirm deeper correction beginning or correction completion first indication":-
Correction continuation is expected towards 17453 in next week and firstly sustaining it beyond should be watched in next week for deeper correction beginning below it or on going correction completion first indication above it.
Importance of 17453 was clearly told and Nifty hovered it around in first 4 sessions of previous week and then finally deeper 509 Points(2.91%) correction was seen below it last Friday after previous getting 37 sessions trading range breaking down confirmations.
As "ABC" correction beginning confirmation getting after last 37 sessions trading range breaking down confirmatioms therefore Price-wise and time-wise correction of whole rally will remain continued according to above Fibonacci Retracement levels in the coming weeks and months.
Remain cautious 17453 will
confirm deeper correction
Nifty-Intra Day Chart Analysis &
Market Outlook(26-11-2021)
Nifty-Intra Day Chart (25-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Consolidation between 17352-17425
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 17352-17564
Conclusions from intra day chart analysis
Although firstly consolidation but after that last 4 hours up moves in Bearish Rising Channels also therefore down moves are expected towards day's lowest(17352) and once sustaining below it will mean decisive down moves beginning.
As sustaining below 17453 will confirm deeper correction beginning therefore we are continuously telling for watching to sustain it beyond and Nifty is hovering it beyond for the last 3 sessions. As good selling between 17509-17600 on 24-11-2021 and higher levels selling patterns were seen on 25-11-2021 also therefore if Nifty sustains below 17453 it then will confirm deeper correction hence remain cautious.
Firstly watch sustaining below 17453 for deeper correction beginning confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(25-11-2021)
Nifty-Intra Day Chart (24-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Almost 5 hours selling between 17509-17600
2- Down moves in last 2 hours
3- Whole day actual trading between 17354-17600
Conclusions from intra day chart analysis
Although more than 100 points up moves from lower levels but with selling patterns formations within and near about yesterday posted 1st resistance range(17563-17590) therefore down moves started which remained continued till last minutes and today closing was near the lower levels of the day.
As Nifty again closed below previous 33 sessions trading range(17453-18604) and once sustaining below it will confirm deeper correction beginning therefore should also be firstly watched in the coming sessions.
17453-17805 will confirm next decisive moves/Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(24-11-2021)
Nifty-Intra Day Chart (23-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Sharp fall after negative opening
2- Last 6 hours up moves with downward corrections
3- Whole day actual trading between 17217-17553
Conclusions from intra day chart analysis
Following lines were told yesterday in "Watch 17453 for deeper correction confirmation amid some up moves possibility":-
up moves may be seen towards following next resistances:-
1- 17563-17590
2- 17644-17578
3- 17781-17805
As was told yesterday 100% same happened today and Nifty closed with 86.80 points gains as well as today highest was at 17553.70 which is just below next resistances(17563-17590).
Although firstly sharp fall after negative opening was seen today but immediately up moves started which remained continued with downward corrections till last hour and today closing was near the higher levels of the day.
As last 33 sessions trading range(17453-18604) was broken down yesterday and above mentioned resistances are also lying therefore firstly sustaining beyond 17453-17805 should be watched in the coming sessions for next decisive moves/Trend beginning confirmations.
Watch 17453 for deeper correction
confirmation amid some
up moves possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(23-11-2021)
Nifty-Intra Day Chart (22-Nov-2021):-
Technical Patterns formation in today intraday charts
1- More than 100 points down in first 4 minutes after positive opening
2- Down moves with upward corrections
3- More than 160 points recovery from lower levels in last hour
4- Whole day actual trading between 17281-17805
Conclusions from intra day chart analysis
Following conclusive lines were told on 20-00-2021 in "17453 will confirm deeper correction beginning or correction completion first indication":-
correction continuation is expected towards 17453 in next week more and firstly sustaining it beyond should be watched in next week for:-
1- for deeper correction beginning below it
2- on going correction completion first indication above it.
Following topic of "Maximum target of Nifty at 18793.00" were posted:-
1- On 16-10-2021 we posted this topic- "Remain cautious because maximum target of Nifty is at 18793.00"
2- On 25-09-2021 we posted this topic- "Wave-5 Rally continuation towards its maximum target at 18793"
As was told on 20-11-2021 and 100% same happened today in following manner:-
1- Nifty slipped more than 1300 points from 17613.10
and
2- without moving above 18793.00.
Although Nifty positive opening today but slipped more than 100 points in first 4 minutes and after that continuously down moves remains continued with upward corrections therefore once Nifty traded 484 points down. As Very Short Term indicators turned Oversold and sentiment was extremely depressed therefore 160 points recovery was seen from lower levels in last hour.
Nifty traded between 17281-17444 in last hour and got little supports within it therefore expected Nifty will firstly trade within and near about this range tomorrow. As sentiment Very Short Term indicators are also Oversold therefore some up moves may be seen towards following next resistances:-
1- 17563-17590
2- 17644-17578
3- 17781-17805
As last 33 sessions trading from 01-10-2021 to 18-11-2021 was between 17453-18604 and Nifty forcefully moved below it as well as closed it today therefore it has generated deeper correction strong indication. Once sustaining below 17453 will confirm deeper correction therefore should be firstly watched in the coming sessions amid Oversold indicators led some up moves possibility.
17453 will confirm deeper correction
beginning or correction completion first indication
Technical Analysis,Research & Weekly
Outlook(Nov 22 to Nov 26,2021)
Nifty-EOD Chart Analysis
(Averages,Stochastic & MACD)
Nifty-Weekly Chart(18-Nov-2021):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-5 completion indication after recent high and new life time top formation at 18604.50 on 19-10-2021
2- Last 22 Sessions Short Term Correction continuation with recent bottom formations at 17613.10 on 29-10-2021
3- Last 33 Sessions sideways trading between 17453-18604 from 01-10-2021 to 18-11-2021
4-Averages
A- 5-Day SMA is today at 17975
B- 21-Day SMA is today at 18006
B- 55-Day SMA is today at 17793
5- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.
6- Stochastic:- %K(5) is at 29.26 & %D(3) is at 50.51.
7- In MACD- MACD line has intersected Average line downward and its both lines are falling in positive zone.
8- MACD:- (26,12) 20.87 & EXP(9)58.50 & Divergence- -37.63
Conclusions from EOD chart analysis
(Averages,Stochastic & MACD)
The correction which started after life time top formation at 18604.50 on 19-10-2021 is in continuation for the last 22 sessions with recent bottom formations at 17613.10 on 29-10-2021 and till now no indication of on going correction completion yet.
Nifty was hovering around short term averages(5 and 21-Day SMA) for the last 20 sessions has slipped and closed below Intermediate term averages(55-Day SMA) last Friday therefore indicating Intermediate term trend turning down possibility also and its confirmation will be finally sustaining below it which should be firstly watched in next week.
As both lines of MACD are falling therefore confirming downward trend formations and both lines of Stochastic are also falling towards Over sold zone therefore suggesting more down moves possibility in next week.
Last 33 Sessions sideways trading between 17453-18604 from 01-10-2021 to 18-11-2021 and finally sustaining it beyond will confirm the life and length of on going correction therefore should be watched in the coming week/weeks for it.
Nifty-Last 33 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Oct 01 to Nov 18,2021):-
Technical Patterns formation in last 33 Sessions intraday charts
1- Selling(Resistances) in last 33 Sessions are as follows:-
A- 17959-18005
B- 18070-18133
C- 18169-18193
D- 18289-18334
E- 18379-18458
F- 18548-18604
2- Consolidation(Supports) in last 33 Sessions are as follows:-
A- 17716-17763
B- 17641-17704
C- 17453-17550
3- Last 33 Sessions trading between 17453-18604
Conclusions from 33 Sessions
intra day chart analysis
Last 33 sessions sideways trading between 17453-18604 with above mentioned 6 resistances and 3 supports. As resistances are turning stronger than supports and higher good selling was seen in all the last 4 sessions of previous week therefore if fresh selling develops in the coming week also then firstly sustaining beyond last 33 sessions lowest(17453) should be watched in the next week because finally sustaining below it will mean deeper correction confirmation.
Nifty-Intra Day Chart
Analysis(18-Nov-2021)
Nifty-Intra Day Chart (18-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Down moves with upward corrections
2- More than 5 hours sideways trading between 17689-17828
3- Whole day actual trading between 17689-17945
Conclusions from intra day chart analysis
Although flat opening but 220 points down moves with upward corrections in first 3 hours therefore sustaining at lower levels and 0.75% negative closing last Friday.
As more than 5 hours sideways trading between 17689-17828 in which supports at lower levels and some selling at higher levels was also seen within this range therefore Nifty will firstly trade within this range and prepare for next decisive moves in the beginning of next week as well as finally sustaining beyond this range will generate next decisive moves.
Conclusions (After putting
all studies together)
1- Long Term Trend is up.
2- Intermediate Term Trend is sideways between 17453-18604 for the last 33 Sessions.
3- Short Term Trend is down.
As 22 sessions like long big Impulsive Wave-5 correction and Nifty has closed below 55-Day SMA also therefore emergence of "ABC" correction possibility of that rally which started from 7511.10 on 24-03-2020. Let some more correction signals emerge then "ABC" correction of whole 5 waves rally(7511.10-18604.50) will be considered.
Last 33 Sessions like big sideways trading between 17453-18604 therefore finally sustaining it beyond will form next trend which will generate big moves. As 5 resistances above last Friday closing and below 18604 and 3 supports below last Friday closing and below 17453 therefore Nifty will trade and prepare for next trend between 17453-18604 and finally sustaining it beyond will form next trend.
MACD is suggesting downward trend formation and Stochastic is also showing more down moves possibility therefore correction continuation is expected towards 17453 in next week and firstly sustaining it beyond should be watched in next week for deeper correction beginning below it or on going correction completion first indication above it.
Down moves towards next support
Nifty-Intra Day Chart Analysis &
Market Outlook(18-11-2021)
Nifty-Intra Day Chart (17-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 17951-18022
2- Down moves till last minutes
3- Whole day actual trading between 17880-18022
Conclusions from intra day chart analysis
As more than 5 hours selling between 17951-18022 therefore down moves remained continued till last minutes and today closing was near the lower levels of the day as well as down moves continuation is expected towards following next supports:-
1- 17716-17763
2- 17641-17704
18072-18210 will confirm next Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(16-11-2021)
Nifty-Intra Day Chart (15-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 18171-18210
2- Selling between 18135-18160
3- Down moves in Bullish Falling Channel
4- Sideways trading between 18072-18104
5- Whole day actual trading between 18072-18210
Conclusions from intra day chart analysis
Following lines were told on 13-11-2021 in "Last 18 sessions lowest will confirm the life and length of on going correction":-
up moves will remain continued in the beginning of next week but intraday correction will also be seen
As was told 100% same happened and :-
1- Firstly Nifty traded more than 100 points up
2- Nifty closed flat after intraday correction and loosing all intraday gains.
Although good gains in first half hour but higher levels selling developed and after that follow up selling remain continued also therefore Nifty slipped into negative zone. As last 4 hours sideways trading between 18072-18104 with some consolidation also through Down moves in Bullish Falling Channel therefore up moves towards today highest may be seen tomorrow.
As both lower levels buying and higher levels selling was also seen between 18072-18210 today firstly Nifty will have to trade and prepare for next Short term Trend within this range which will be firstly done tomorrow. Let Nifty trade and prepare then will be understood according to intraday trading patterns formations and will be updated accordingly. Finally sustaining beyond 18072-18210 will confirm next Short Term Trend which should also be watched for its confirmations.
Last 18 sessions lowest will confirm the life and length of on going correction
Technical Analysis,Research & Weekly Outlook
(Nov 15 to Nov 18,2021)
Nifty-Weekly Chart Analysis
(Waves,Stochastic & MACD)
Nifty-Weekly Chart(12-Nov-2021):-
Technical Patterns and Formations in EOD charts
1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020
2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020
3- Corrective Wave-2 completion at 10790.20 on 24-09-2020
4- Impulsive Wave-3 completion at 15431.8 on 16-02-2021
5- Corrective Wave-4 completion at 14151.4 on 22-04-2021
6- Impulsive Wave-5 completion indication after recent high and new life time top formation at 18604.50 on 19-10-2021
7- Short Term correction continuation with recent bottom formation at 17613.10 on 29-10-2021.
8- Last 4 weeks and 18 Sessions sideways trading between 17453-18604
9- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.
10- Stochastic- %K(5) is at 33.72 & %D(3) is at 43.80.
11- In MACD- MACD line has intersected Average line downward. Its MACD line is moving down in positive zone while its Average line is moving up in positive zone .
Conclusions from Weekly chart analysis
(Waves,Stochastic & MACD)
Impulsive Wave-1 which started after Corrective Wave-C completion at 7511.10 on 24-03-2020 remained continued almost 19 months and its 5th Wave completion indications have also emerged on 19-10-2021 after new life time top formation at 18604.50 because now last 4 weeks and 18 Sessions long correction continuation with recent bottom formation at 17613.10 on 29-10-2021.
As in weekly Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone which means that Stochastic has not turned Oversold yet therefore indications of more down moves in the coming week/weeks.
In weekly MACD indicator MACD line has intersected Average line downward and its MACD line is moving down therefore downward trend formation indications have emerged but its Average line is moving up also hence it is signalling that MACD will give downward trend formation confirmations after some time and more selling patterns formations.
Nifty-Last 29 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Oct 01 to Nov 12,2021):-
Technical Patterns formation in last 29 Sessions intraday charts
1- Selling(Resistances) in last 29 Sessions are as follows:-
A- 18289-18334
S- 18379-18458
C- 18548-18604
2- Consolidation(Supports) in last 29 Sessions are as follows:-
A- 17984-18046
B- 17716-17763
C- 17641-17704
D- 17453-17550
3- Last 29 Sessions trading between 17453-18604
Conclusions from 29 Sessions
intra day chart analysis
Nifty is trading between 17453-18604 for the last 29 sessions with above mentioned supports and resistances which are equally strong and nifty closed almost in the middle of this range last Friday therefore Nifty will trade and prepare for next trend within this range. As 29 sessions like big range and finally sustaining it beyond will generate big moves therefore should be watched in the coming week/weeks for its confirmations.
Nifty-Intra Day Chart Analysis
(12-Nov-2021)
Nifty-Intra Day Chart (12-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Up moves with downward corrections
3- Whole day actual trading between 17906-18123
Conclusions from intra day chart analysis
Although 100 points up after strong opening but after that more than 1 and half hour down moves were also seen last Friday. As these down moves were in Bullish Falling Channel therefore after that strong rally developed which was with downward corrections also hence was near the higher levels of the day.
As whole day good intraday consolidation last Friday therefore up moves will remain continued in the beginning of next week but intraday correction will also be seen because Very Short Term Indicators have turned Over bought and its cooling down is also required through intraday corrections.
Conclusions
(After putting all studies together)
1- Long Term Trend is up.
2- Intermediate Term Trend is sideways between 17453-18604 for the last 29 Sessions.
3- Short Term Trend is down.
As per above given Nifty Waves structure maximum target of Nifty is at 18793.00 and it was posted in following topics of previous weekly outlooks:-
1- On 16-10-2021 we posted this topic- "Remain cautious because maximum target of Nifty is at 18793.00"
2- On 25-09-2021 we posted this topic- "Wave-5 Rally continuation towards its maximum target at 18793"
As on going correction started from 18604.50 on 19-10-2021 and it is below 18793.00 therefore Nifty is honouring this Waves structure till now which means that given Waves structure is still valid. Last 18 sessions on going correction lowest is at 17613.10 and if Nifty slips below it without moving above 18793.00 then that will generate stronger indications of deeper correction beginning because it will confirm Intermediate Term Trend turning down confirmations also after breaking down of 55-Day SMA which is today at 17705.40.
As weekly Stochastic is suggesting more down moves possibility and weekly MACD has started to show downward trend formation indications therefore firstly sustaining beyond last 18 sessions lowest(17613.10) should be watched in the coming week/weeks for the life of on giong correction confirmations because its valid break down will mean deeper "ABC" correction beginning confirmations.
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