Firstly watch Next resistances

between 17552-17639

Post-open Outlook(03-01-2022)

As Dow Jones Futures is trading more than 125 points up since today morning therefore sentiment boosted on new year 1st trading day and resultant strong opening of Indian markets.

Next resistances are between 17552-17639 and it will decide the life and lenth of on going Pull Rack Rally therefore sustaining it beyond should be firstly watched for its confirmations.

 Live proofs of our accuracy

Prediction of "Nifty maximum Target" 

at 18793

Prediction of "Nifty above 18000" 

one year before

 Deeper correction beginning expectations

Technical Analysis,Research & Weekly 

Outlook(Jan 03 to Jan 07,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (31-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 and corrective Wave-A of "ABC' correction beginning.

2- Corrective Wave-A of "ABC" correction continuation with recent bottom formations at 16410.20 on 20-12-2021 and no confirmation of its completion yet.   

3- Pull Back Rally continuation with recent top formation at 17400.80 on 31-12-2021 

4- Stochastic- Both %K(5) line and %D(3) line are kissing in Over bought zone.

5- Stochastic:- %K(5)- 87.32 & %D(3)- 87.56.

6- In MACD- Both MACD line and Average line are kissing in negative zone.

7- MACD(26,12)- -136.71 & EXP(9)- -134.98 & Divergence- -01.73 

8- Down moves below falling trend line

Conclusions from EOD chart analysis

(Stochastic & MACD)

As both lines of Stochastic are kissing in Over bought zone and both lines of MACD are also kissing in negative zone as well as Nifty is just below falling trend line therefore it will be understood that on going previous 10 sessions Pull Back rally is technically well prepared for its correction which will start any day in the coming week.

 

Nifty-Last 18 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Dec 08 to Dec 31,2021):-

Technical Patterns formation in last 18 Sessions intraday charts

1- Selling(Resistances) in last 18 Sessions are as follows:-

A- 17365-17421

B- 17552-17639  

2- Consolidation(Supports) in last 18 Sessions are as follows:-

A- 16884-17093

B- 16820-16918

C- 16739-16782

D- 16411-16530

3-  3 Sessions Mixed Patterns formations between 17177-17273

4- Last 18 Sessions actual trading between 16411-17639 

Conclusions from 18 Sessions

intra day chart analysis 

Last 18 Sessions actual trading between 16411-17639 with above mentioned supports and resistances and last Friday closing was near the higher levels of this range after 10 previous sessions rally. As both higher levels selling and lower levels buying in last 18 sessions therefore firstly Nifty will have to trade and prepare for next trend within this range. Let Nifty prepare then will be decided according to coming sessions intraday trading patterns formations.

Although Mixed Patterns formations was seen in the 3 sessions of previous week between 17177-17273 but Nifty closed well above it at 17354.05 last Friday with higher levels some selling therefore firstly sustaining beyond 17273 should also be watched in next week for correction beginning confirmation of on going last 10 sessions Pull back rally.

Nifty-Intra Day Chart Analysis

(31-Dec-2021)

Nifty-Intra Day Chart (31-Dec-2021):-

Technical Patterns formation in today intraday charts

1- 97 Points jump in first 2 minutes after positive opening

2- Sideways trading between 17324-17360

3- Selling between 17362-17400(Immediate Resistance) 

4- Whole day actual trading between 17239-17400

Conclusions from intra day chart analysis 

Although 97 points jump in first 2 minutes after positive opening and after that 2 hours sideways trading also but higher levels selling was also seen between 17324-17360 therefore this range will be immediate resistance of Nifty and firstly Nifty has to consolidate for decisive up moves beginning above 17400.   

Remain cautious also in next week because fresh selling within or near about 17324-17360 in the beginning of coming week will mean decisive down moves beginning and its confirmation will be sustaining below 17324.

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 16411-17400.

Last 10 Sessions Pull Back rally continuation with recent top formation at 17400.80 on 31-12-2021 and no confirmation of its completion yet on EOD charts but following developments are suggesting that its correction is on cards which will be seen in next week despite last Friday closing was at its top.

1- Overbought indicators.

2- both lines are kissing in Stochastic and MACD.

3- Higher levels selling on 31-12-2021.

4- Mixed Patterns formations between 17177-17273 in the 3 sessions of previous week.

Sustaining beyond 17177 should be firstly watched in next week for the life and length of last 10 sessions rally amid deeper correction beginning expectations towards/below above mentioned next supports.

 17245 will confirm next trend 

Nifty-Intra Day Chart Analysis & 

Market Outlook(31-12-2021)

Nifty-Intra Day Chart (30-Dec-2021):-

Technical Patterns formation in today intraday charts

1- 67 Points fall in first minute

2- Up moves in Bearish Rising Channel

3- Down moves in Bullish Falling Channel

4- Up moves with downward corrections

5- Down moves with upward corrections

6- Whole day actual trading between 17147-17264

Conclusions from intra day chart analysis 

As multiple strong resistances were above 17245 therefore following topic was posted told on 27-12-2021:-

"Remain cautious and watch 17245 amid up moves continuation expectations"

We cautioned and Nifty closed below 17245 in all the previous 3 sessions after our above posted topic therefore  firstly sustaining it beyond should be watched in the coming sessions for the life of last 9 sessions rally which started form 16410.2 on 20-12-2021.

"Down moves towards next supports" topic was posted on 29-12-2021 for yesterday trading and 67 Points fall was seen in first minute yesterday. As whole day trading was with both above mentioned consolidation and selling patterns formations therefore yesterday trading will be understood with Mixed Patterns formation between 17147-17264 and resultant closing was with only 9 points down.

As Mixed Patterns formation between 17147-17264 yesterday therefore firstly sustaining it beyond should be firstly watched today for next decisive moves beginning confirmations and remain cautious also because Nifty hovered around 17245 in last 3 sessions and it will confirm next trend. 

 Down moves towards next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(30-12-2021)

Nifty-Intra Day Chart (29-Dec-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17266-17285

2- Sharp fall

3- Down moves in Bullish Falling Channel

4- Selling between 17234-17255

5- Sharp fall in last hour

6- Whole day actual trading between 17177-17285

Conclusions from intra day chart analysis 

Multiple strong resistances between 17245-17332 were updated on 25-12-2021 in " Firstly watch 16411-17379 amid finally down moves expectations below it" and cautioned also in last 2 sessions outlooks for watching to sustain above 17245.   

Nifty whole day hovered around 17245 today and fresh intrday selling patterns formations developed therefore sharp fall was seen 2 times despite some buying was also seen through Down moves in Bullish Falling Channel.

As higher levels good intraday selling developed 

today and resultant resistances between 

17245-17332 have turned stronger also therefore 

down moves are expected towards 

next supports(16820-16918)

 Watch levels for next decisive 

moves beginning confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(29-12-2021)

Nifty-Intra Day Chart (28-Dec-2021):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour

2- Up moves in Bearish Rising Channels

3- Volatility in last hour

4- Whole day actual trading between 17162-17250

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Remain cautious and watch 17245 amid up moves continuation expectations":-

1- some up moves will remain continued towards next resistances(17245-17332). 

2- sustaining above 17245 should be watched for next decisive up moves beginning confirmations

3- remain cautious also because failing to sustain above it will mean correction beginning towards/below the lowest(16410.20) of on going"ABC" correction.

As was told 100% same happened and Nifty closed 147 points up as well as closed below 17245 at 17233.25 after today highest formation just above it at 17250.25

Although Up moves were in Bearish Rising Channels therefore selling patterns formations will be understood today but high volatility in first and last hour hence view will be watchful because technical positions reverses also during such today high volatility.

As one sided clear intraday patterns were not seen today and firstly Nifty will have to prepare for next decisive moves as well as that will be firstly done between 17162-17379 in the coming sessions therefore sustaining beyond this range should be watched in the coming sessions. First strong signal of next decisive moves beginning will come from sustaining beyond 17245 therefore should be firstly watched but its final confirmation will be from sustaining beyond 17162-17379. 

Remain cautious and watch 17245 amid up moves continuation expectations

Nifty-Intra Day Chart Analysis & Market

Outlook(28-12-2021)

Nifty-Intra Day Chart (27-Dec-2021):-

Technical Patterns formation in today intraday charts

1- 104 Points sharp fall in first 7 minutes

2- Whole day up moves with downward corrections

3- Whole day actual trading between 16834-17112

Conclusions from intra day chart analysis 

Although 104 points sharp fall in first 7 minutes and traded 170 points down also but after that up moves started which remain continued till last minutes. As last 6 hours up moves were with downward corrections and as such selling patterns were not seen therefore some up moves will remain continued towards next resistances(17245-17332). 

As Short Term indicators are just below Overbought zone and next resistances are strong also therefore firstly sustaining above 17245 should be watched for next decisive up moves beginning confirmations and remain cautious also because failing to sustain above it will mean correction beginning towards/below the lowest(16410.20) of on going"ABC" correction.

  Firstly watch 16411-17379 amid finally down moves expectations below it

Technical Analysis,Research & Weekly Outlook

(Dec 27 to Dec 31,2021)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (24-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 and corrective Wave-A of "ABC' correction beginning.

2- Corrective Wave-A of "ABC" correction continuation with recent bottom formations at 16410.20 on 20-12-2021   

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)- 70.16 & %D(3)- 54.79.

6- In MACD- MACD line has intersected Average line downward and its MACD line is falling while Average line is flat in negative zone EOD.

7- MACD(26,12)- -162.95 & EXP(9)- -123.32 & Divergence- -39.63

Conclusions from EOD chart analysis

(Stochastic & MACD)

corrective Wave-A of "ABC' correction begun after Impulsive Wave-5 completion at 18604.50 on 19-10-2021. As Wave-A is in continuation and no indication of its completion yet therefore its continuation will be seen in the coming week/weeks. 

 

As in Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising towards Over bought zone therefore some more up ward moves can not be ruled out in the coming week but MACD has started Short term downward trend formations through MACD line downward intersection of Average line hence down moves possibilities have also turned alive.

Both Short Term indicators Stochastic and MACD are showing adverse moves possibilities therefore it will be understood that at present Indian markets are not prepared for any type of one sided moves and will firstly remain sideways as well as firstly prepare for next decisive moves in the coming week. 

Nifty-Last 9 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Dec 14 to Dec 24,2021):-

Technical Patterns formation in last 9 Sessions intraday charts

1- Selling(Resistances) in last 9 Sessions are as follows:-

A- 17045-17118

B- 17245-17332(Multiple strong resistances)   

2- Consolidation(Supports) in last 9 Sessions are as follows:-

A- 16820-16918

B- 16739-16782

C- 16411-16530

3- Last 9 Sessions actual trading between 16411-17379 

Conclusions from 9 Sessions

intra day chart analysis 

Last 9 Sessions actual trading between 16411-17379 with above mentioned supports and resistances which are equally stronger also therefore Nifty will firstly trade within 9 Sessions trading range in the coming week and prepare for next trend.

Let Nifty prepare for next trend between 16411-17379 then finally sustaining it beyond should be watched for its confirmations and till then trading strategy should be for targets within this 9 sessions trading range.

Nifty-Intra Day Chart Analysis

(24-Dec-2021)

Nifty-Intra Day Chart (24-Dec-2021):-

Technical Patterns formation in today intraday charts

1- 186 Points sharp fall in first 15 minutes after positive opening 

2- Mixed Patterns formation between 16910-16988

3- Slow up moves in Mid-Session

4- Slipping in last hour 

5- Whole day actual trading between 16910-17155

Conclusions from intra day chart analysis 

As Indian markets are in Bearish mode therefore firstly 186 Points sharp fall in first 15 minutes after positive opening last Friday and after that some lower levels supports were also seen amid Mixed Patterns formation between 16910-16988. 

Although up moves in Mid-Session but were slow therefore slipping in last hour again. As some lower levels supports and selling patterns formations were also therefore whole day last Friday trading will be understood with Mixed patterns formations between 16910-17155 and resultant Nifty will firstly trade as well as prepare for next decisive moves within this range hence sustaining beyond this range should be firstly watched in the coming week for next decisive moves beginning confirmations.

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 16411-17379.

Corrective Wave-A of "ABC" correction continuation with recent bottom formations at 16410.20 on 20-12-2021 and no indication of its completion yet on EOD charts.

Although sharp fall in the first day of previous week on 20-12-2021 but after that strong up moves were also seen in the following 4 sessions and previous week closing was in Green but higher levels good selling and Nifty could not sustain at higher levels also. As selling was also seen in previous week therefore Nifty will be understood sideways within last 9 Sessions trading range(16411-17379) and will prepare for next Trend within or near about it in the coming week. 

As finally sustaining beyond 16411-17379 will form following next decisive moves therefore should be firstly watched in the coming week/weeks for its confirmations:-    

1- Above 17379 will mean rally towards following next resistances:-

A- 17365-17421

B- 17552-17639  

2- Below 16411 will mean Wave-A of "ABC" correction continuation towards following next supports:- 

A- 16303-16356

B- 16179-16247(Multiple supports)

C- 16147-16176(Gap support)

D- 15893-15914(Gap support)

Although all the crucial levels have been updated above for Short to Intermediate Term moves possibilities but expected that finally Nifty will move and sustain below 16411 as well as test above mentioned supports in the coming weeks/months.  

Today lowest will confirm correction beginning 

Nifty-Intra Day Chart Analysis & 

Market Outlook(24-12-2021)

Nifty-Intra Day Chart (23-Dec-2021):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channels

2- Sharp falls

3- Whole day actual trading between 17016-17118

Conclusions from intra day chart analysis 

Although strong gap up opening but converted into sideways trading between 17016-17118 with selling through 2 times up moves in Bearish Rising Channels and resultant sharp falls were also seen 3 times therefore selling patterns formations will be understood for today. 

If follow up selling develops within or near about today trading range tomorrow then once sustaining below today lowest(17016) will mean Pull back rally completion and correction beginning towards the lowest(16411) of on going Wave-A of "ABC" correction.

Up moves continuation towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(23-12-2021)

Nifty-Intra Day Chart (22-Dec-2021):-

Technical Patterns formation in today intraday charts

1- More than 5 hours consolidation between 16820-16918

2- Up moves in last hour

3- Whole day actual trading between 16820-16971

Conclusions from intra day chart analysis 

Although good selling between 16864-16936 yesterday but equally good more than 5 hours consolidation was seen within and near about this range between 16820-16918 today therefore up moves developed in last hour.

As today closing was at the highest levels of last 3 sessions and consolidation was seen at the higher levels of last 3 sessions trading range as well therefore up moves will remain continued towards next resistances between 17245-17332.

Firstly watch levels amid correction

 continuation expectations

Nifty-Intra Day Chart Analysis &

Market Outlook(22-12-2021)

Nifty-Intra Day Chart (21-Dec-2021):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour

2- Up moves in Bearish Rising Channel

3- Selling between 16864-16936(immediate Resistances)

4- Sharp fall

5- Whole day actual trading between 16689-16936

Conclusions from intra day chart analysis 

As strong global cues today morning therefore gap up opening but firstly volatility and after that Up moves were in Bearish Rising Channel as well as higher levels good selling between 16864-16936 hence sharp fall was seen after 02:00 PM.

Some intraday supports above 16410 yesterday and good selling below 16936 today therefore Nifty will trade between 16410-16936 in the coming sessions because Very Short Term indicators have turned Oversold after yesterday huge fall and technically Nifty has to prepare for next decisive moves within last 2 sessions trading range.

Although finally correction continuation below 16410 is expected but let Nifty prepare completely for it in the coming sessions then will be updated according to intraday charts formations and till then firstly sustaining beyond 16410-16936 should be watched for next decisive moves beginning confirmations. 

 As busy therefore Stock Market Outlook of today(21-12-2021) is not being updated.

 Remain cautious because 16765 breaking down will confirm too much deeper correction

Technical Analysis,Research & Weekly Outlook

(Dec 20 to Dec 24,2021)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (17-Dec-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 and corrective Wave-A of "ABC' correction beginning.

7- Correction Wave-A continuation with recent bottom formations at 16782.40 on 29-11-2021 

Conclusions from EOD chart analysis

(Waves structure)

Bullish rally which started through its Impulsive Wave-1 from 7511.10 on 24-03-2020 completed from its 5th Wave after new life time top formation at 18604.50 on 19-10-2021 and corrective Wave-A of "ABC' correction begun which is in continuation with recent bottom formations at 16782.40 on 29-11-2021 and no indication of its completion yet.

Nifty-Weekly Chart Analysis

(Stochastic & MACD)

Nifty-Weekly Chart (17-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 and corrective Wave-A of "ABC' correction beginning.

2- Correction Wave-A continuation with recent bottom formations at 16782.40 on 29-11-2021   

4- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising within and near about Over sold zone as well as it is showing positive divergence.

5- Stochastic:- %K(5)- 31.42 & %D(3)- 24.96.

6- In MACD- MACD line has intersected Average line downward and its both lines are falling in positive zone.

7- MACD(26,12)- 448.55 & EXP(9)- 914.45 & Divergence- -465.90

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Weekly Stochastic both lines are rising within and near about Over sold zone as well as it is showing positive divergence also therefore signalling decisive up moves beginning possibilities but in MACD both lines are falling in positive zone and confirming downward trend formations also hence suggesting that finally down moves will be seen.

Nifty-Last 19 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Nov 23 to Dec 17,2021):-

Technical Patterns formation in last 19 Sessions intraday charts

1- Selling(Resistances) in last 19 Sessions are as follows:-

A- 17245-17332(Multiple strong resistances)

B- 17365-17421

C- 17552-17639  

2- Consolidation(Supports) in last 19 Sessions are as follows:-

A- 16953-17011 

3- Last 19 Sessions actual trading between 16783-17639 

Conclusions from 19 Sessions

intra day chart analysis 

As higher levels good selling developed in last 19 sessions therefore above mentioned 3 resistances ranges have emerged sufficiently stronger also therefore if fresh selling develops in next week then deeper correction will be seen after breaking down of 19 sessions trading range(16783-17639) because:-

1- only last weaker supports of previous 19 sessions are lying between 16953-17011 and 

2- last Friday lowest/closing was within it also.

Nifty-Intra Day Chart Analysis

(17-Dec-2021)

Nifty-Intra Day Chart (17-Dec-2021):-

Technical Patterns formation in today intraday charts

1- 125 Points sharp fall in first 15 minutes after positive opening 

2- Down moves with upward corrections

3- Support between 16997-17062

4- Slow up moves

5- Sharp down

6- Sideways trading between 16967-17002

7- Whole day actual trading between 16967-17298

Conclusions from intra day chart analysis 

As 125 points sharp fall in first 15 minutes after positive opening and selling was seen through Down moves with upward corrections and slow up moves also therefore last Friday closing was near the lower levels of the day. 

Although lower levels supports was also seen but higher levels good selling therefore firstly down moves are expected below last Friday lowest(16967) 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 down.

As good selling at higher levels in previous week therefore weekly closing was near the lowest of week with long Black candle formations which is confirming weakness in Indian markets. If fresh selling develops in the beginning of next week also then sustaining below last 19 sessions last supports(16953-17011) will mean emergence of deeper correction possibility and its confirmations will be after sustaining below previous sessions lowest(16783). Next supports below it are as follows;-

1-16722-16764(Gap support) 

2-16590-16685 

As last 76 sessions lowest is at 16765 and once sustaining below it will mean breaking down confirmations of such long trading range which will ascertain too much deeper correction beginning also because for it EOD chart is also suggesting through Wave-A of "ABC" correction formation hence remain cautious in the coming week/weeks.

17185 Will confirm correction 

towards next supports 

Nifty-Intra Day Chart Analysis & 

Market Outlook(17-12-2021)

Nifty-Intra Day Chart (16-Dec-2021):-

Technical Patterns formation in today intraday charts

1- More than 100 points fall in first hour after gap up opening

2- Up moves in Bearish Rising Channels

3- Down moves in Bullish Falling Channels

4- Sharp up in last hour

5- Whole day actual trading between 17185-17380

Conclusions from intra day chart analysis 

Although strong US markets led gap up opening but 100 points fall in first hour because good intraday selling was seen in Indian markets one day before. 

As consolidation at lower levels through Down moves in Bullish Falling Channels therefore some up moves were seen but not sustaining at higher levels also because selling at higher levels developed through Up moves in Bearish Rising Channels.

Higher levels good selling in last 3 sessions between below 17380 therefore firstly sustaining beyond 17185 should be firstly watched for Correction towards those supports which have been updated on 15-12-2021 in:- 

"Correction towards next supports"

 17193-17351 will confirm FOMC declarations impact on Indian markets

Pre-open Outlook(16-12-2021)

As all the US markets closed more than 1% up after FOMC declarations last night therefore sentiment boosted and  most Asian markets are trading with gains today morning. 

Resultant Indian markets will also react on it and open high as well as firstly trade to prepare for next decisive moves within yesterday trading range(17193-17351) therefore firstly sustaining it beyond should be watched today for FOMC declarations impact confirmations on Indian markets

 Correction towards next supports

Nifty-Intra Day Chart Analysis &

Market Outlook(16-12-2021)

Nifty-Intra Day Chart (15-Dec-2021):-

Technical Patterns formation in today intraday charts

1- Sharp fall after flat opening

2- Up moves in Bearish Rising Channel

3- Sharp fall in last hour

4- Whole day actual trading between 17193-17351

Conclusions from intra day chart analysis 

Following conclusive line was told yesterday in "Today trading range break out/down will confirm next decisive moves":-

Nifty will firstly trade and prepare for next decisive moves within and near about today trading range(17226-17376) and finally it sustaining beyond should be watched for its confirmations.

As was told yesterday 100% same happened today and Nifty traded most time between 17226-17376  as well as prepared for decisive down moves below 17226 which will be seen tomorrow through correction continuation towards following next supports:-

1- 17015-17108

2- 16953-17011 

Today trading range break out/down will confirm next decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(15-12-2021)

Nifty-Intra Day Chart (14-Dec-2021):-

Technical Patterns formation in today intraday charts

1- 120 Points slipping in first minute

2- Lower levels consolidation through Down moves in Bullish Falling Channels

3- Volatility and not sustaining at higher levels

4- 3 Times sharp up moves

5- 2 Times sharp falls

6- Whole day actual trading between 17226-17376

Conclusions from intra

day chart analysis 

As both consolidation and distribution patterns formations and both sharp up/down moves as ell as higher levels volatility therefore today trading will be understood with Mixed Patterns formation 17226-17376 hence expected that Nifty will firstly trade and prepare for next decisive moves within and near about today trading range(17226-17376) and finally it sustaining beyond should be watched for its confirmations.

 Down moves below today lowest

Nifty-Intra Day Chart Analysis & 

Market Outlook(14-12-2021)

Nifty-Intra Day Chart (13-Dec-2021):-

Technical Patterns formation in today intraday charts

1- Whole day down moves with upward corrections

2- Sharp fall in Mid-session

3- Whole day actual trading between 17356-17639

Conclusions from intra day chart analysis 

Live Proofs of our 100% accurate predictions of Indian Stock Markets:-

Only we told in whole world following lines on 11-12-2021 in "17600 will confirm the life and length of on going Pull Back Rally":-

1- firstly up moves will be seen above last Friday highest(17534).

2- Short Term indicator "Stochastic" has turned overbought and Short Term correction is on cards as well as it may start any day.

3- Remain cautious and firstly sustaining beyond 17600 should be watched in next week for the confirmation of life and length of on going Pull Back Rally.

As was told on 11-12-2021 all that proved 100% accurate in following manner today:-

1- "Firstly up moves will be seen" was told and firstly Nifty moved up 128 points today.

2- "Short Term may start any day" was told and Nifty crashed 268 Points from higher levels till 01:00 PM today

3- "Remain cautious and firstly sustaining beyond 17600 should be watched in next week" was told and Nifty could not sustain above 17600 as well as slipped 284 points from today highest (17639) and closed 143 points down at 17368.25 today.

As Whole day selling through  down moves with upward corrections and consolidation patterns were not seen today therefore down moves below today lowest is expected in the coming sessions also.

 17600 will confirm the life and 

length of on going Pull Back Rally

Technical Analysis,Research & Weekly Outlook

(Dec 13 to Dec 17,2021)

Nifty-EOD Chart Analysis

(Averages,Stochastic & MACD)

Nifty-EOD Chart (10-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 17317  

B- 21-Day SMA is today at 17477

C- 55-Day SMA is today at 17768

D- 200-Day SMA is today at 15586 

4- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising within Over bought zone.

5- Stochastic:- %K(5)- 95.89 & %D(3)- 75.07.

6- In MACD- MACD line has intersected Average line upward and its both lines are rising in negative zone.

7- MACD(26,12)- -128.01 & EXP(9)- -161.62 & Divergence- 33.60

Conclusions from EOD chart analysis

(Averages,Stochastic & MACD)

As Nifty is above 200-Day SMA therefore Long Term Trend is up and Short Term Trend has also turned up after previous week closing above both Short Term Averages(5 & 21-Day SMA). Intermediate Term Trend is still down because Nifty is below 55-Day SMA(17768) and firstly sustaining it beyond should be watched in the coming week/weeks for the life and length of on going correction confirmations. 

In Stochastic both lines are moving up after upward intersection and have entered in Over bought zone also but has not shown negative divergence and still no downward intersection therefore more up moves are expected in the coming week.

As in MACD both lines are moving up after upward intersection therefore showing upward trend formation signals but its both lines are in negative zone hence at present suggesting limited up moves possibility only. Let its both lines to sustain within positive zone then decisive up moves will be considered.

Nifty-EOD Chart Analysis

(Wave-5 Fibonacci retracement levels)

Nifty-EOD Chart (10-Dec-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 beginning after Corrective Wave-4 completion at 14151.40 on 22-04-2021

2- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021

3- Corrective Wave-A of "ABC" Correction continuation with recent bottom formations at 16782.40 on 29-11-2021

4- Wave-5 Fibonacci Retracement levels(14151-18604)

13.0%-18,025

23.6%-17,553

27.0%-17,402

38.2%-16,903(Crucial)

50.0%-16,377(Crucial)

61.8%-15,852(Crucial)

70.7%-15,456

76.4%-15,202

78.6%-15,104 

88.6%-14,659 

Conclusions from EOD chart analysis

(Wave-5 Fibonacci retracement levels)

As "ABC" Correction has been started after Wave-5 completion and it will firstly correct Wave-5 therefore Wave-5 Fibonacci Retracement levels(14151-18604)have been updated above because Nifty will firstly retrace according to these levels.

38.2% retracement has been completed after slipping below 16,903 and up moves have been seen in previous week after getting supports near about it. As Wave-A correction will be seen in this manner according to these levels in the coming weeks and months therefore should be kept in mind during on going correction.

Nifty-Last 14 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Nov 23 to Dec 10,2021):-

Technical Patterns formation in last 14 Sessions intraday charts

1- Selling(Resistances) in last 14 Sessions are as follows:-

A- 17552-17600   

2- Consolidation(Supports) in last 14 Sessions are as follows:-

A- 17367-17438(Multiple strong supports)

B- 17015-17108

C- 16953-17011 

3- Last 14 Sessions actual trading between 16783-17600 

Conclusions from 14 Sessions

intra day chart analysis 

Last 14 Sessions trading between 16783-17600 with above mentioned strong supports at lower levels and only one resistance at higher levels as well as last Friday and weekly closing near the higher levels of this 14 sessions range therefore firstly sustaining beyond last 14 sessions highest(17600) should be watched in next week for strong rally above 17600 after last 14 sessions range breaking out confirmation.

As good consolidation at lower levels in previous week and specially last Friday therefore it should be kpt in mind that until complete selling will not develop till then Nifty will not sustain below above mentiond supports and fresh consolidation within or near about next resistance(17552-17600) will generate strong rally above 17600.

Nifty-Intra Day Chart Analysis

(10-Dec-2021)

Nifty-Intra Day Chart (10-Dec-2021):-

Technical Patterns formation in today intraday charts

1- First 4 hours down moves in Bullish Falling Channels

2- Consolidation between 17406-17430(immediate supports)

3- Up moves with downward corrections

4- Whole day actual trading between 17406-17534

Conclusions from intra day chart analysis 

As first 4 hours down moves were in Bullish Falling Channels and after that lower levels consolidation also between 17406-17430 therefore this range will be immediate and strong supports of Nifty because immediately after that last 2 hours up moves were with downward corrections also. 

In this manner last Friday whole day trading will be understood with consolidation patterns formations and resultant firstly up moves will be seen above last Friday highest(17534) in the beginning of next week and until complete selling will not develop till then Nifty will not sustain below last Friday lowest(17406).

Conclusions

(After putting all studies together)

Wave-A of "ABC" correction started after impulsive Wave-5 completion at 18604.50 on 19-10-2021 which is in continuation after its recent bottom formations at at 16782.40 on 29-11-2021. Now Pull Back Rally continuation with recent top formation at 17543.3 on 09-12-2021 and no  confirmation of its completion yet. 

As good intraday consolidation last Friday therefore firstly up moves will be seen towards last 14 sessions highest(17600) but complete consolidation is required for sustaining above it because strong resistances are lying just below it between 17552-17600. Firstly sustaining above 17600 should be watched in next week because that will generate strong rally after 14 sessions trading range breaking out confirmations. Resistances above 17600 are as follows;-

1-17753-17816

2-17959-18005

3-18070-18133

4-18169-18193

Short Term indicator "Stochastic" has turned overbought and Short Term correction is on cards as well as it may start any day. As its first indication will come after fresh selling patterns formation on intraday charts therefore it should also be watched in next week. Remain cautious and firstly sustaing beyond 17600 should be watched in next week for the confirmation of life and length of on going Pull Back Rally.

 As busy therefore Stock Market Outlook of today(10-12-2021) is not being updated.

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.