Remain cautious from 2443 Points rally correction possibility amid firstly sideways market between 17601-18114 

Technical Analysis,Research & Weekly Outlook(Apr 11 to Apr 13,2020)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (08-Apr-2020):-

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 completion at 16410.20 on 20-12-2021

3- Wave-B completion at 18351.00 on 18-01-2022.

4- Wave-C bottom formation at 15671.5 on 08-03-2022

5- Pull Back Rally continuation with recent top formation at 18114.70 on 04-04-2022

6- Last 5 Sessions actual trading between 17601-18114 

7- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.

8- Stochastic:- %K(5)- 55.12 & %D(3)- 73.23.

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

10- MACD(26,12)- 535.59 & EXP(9)- 465.80 & Divergence- 69.79

Conclusions from EOD chart analysis

(Stochastic & MACD)

Pull Back Rally started after Wave-C bottom formation at 15671.5 on 08-03-2022 and its is in continuation with recent top formation at 18114.70 on 04-04-2022 as well as no confirmation of its completion yet after gaining 2443.2 points. As last 5 Sessions trading between 17601-18114 therefore finally its valid break out will confirm next trend which should be firstly watched in the coming week.

As both lines of Short term indicator Stochastic are falling towards Over sold zone therefore suggesting some more down moves possibilities in next week. Although both lines of MACD are rising in positive zone but MACD line has started to flatten therefore remain watchful also in the coming weeks despite no other downward trend formation signal yet.

Nifty-Last 5 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Apr 04 to Apr 08,2020):-

Technical Patterns formation in last 5 Sessions intraday charts

1- Selling(Resistances) in last 5 sessions are as follows:-

A- 17802-17842

B- 17818-17901 

C- 17975-18095 

2- Consolidation(Supports) in last 5 sessions are as follows:-

A- 17703-17744

B- 17601-17675 

3- Last 5 Sessions actual trading between 17601-18114 

Conclusions from 5 Sessions

intra day chart analysis 

Last 5 Sessions trading between 17601-18114 with above mentioned supports and resistances within it. Although firstly slipping after higher levels good selling but lower levels some supports were also seen therefore Nifty will firstly traded and prepare for next trend within this range in the coming week therefore sustaining it beyond should also be watched for next trend beginning confirmations. 

Nifty-Intra Day Chart Analysis &

Market Outlook(11-04-2022)

Nifty-Intra Day Chart (08-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Firstly 97 Points fall after positive opening

2- Consolidation between 17601-17675

3- Up moves with downward corrections & consolidation 

4- Consolidation between 17703-17744

5- Selling between 17802-17842

6- Whole day actual trading between 17601-17842

Conclusions from intra day chart analysis 

Although firstly 97 Points fall after positive opening but lower levels consolidation developed between 17601-17675 therefore up moves begun which remained continued with follow up Mid-session consolidation between 17703-17744. As higher levels selling was also seen between 17802-17842 therefore down moves developed in last hour. 

Until complete fresh selling will not develop till then Nifty will not slip and sustain below last Friday lowest(17601) because lower levels good consolidation was seen and fresh consolidation in the beginning of next week will mean on going rally continuation towards and above 18000.

As both lower levels good intraday consolidation and higher levels some selling also last Friday therefore firstly Nifty will trade and prepare for next decisive moves within last Friday trading range(17601-17842) in the beginning of next week and finally this range break out will confirm next decisive moves which should be firstly watched for its beginning confirmations. 

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

3- Short Term Trend has turned sideways for the last 5 sessions.

2443 Points gaining Pull Back Rally which started from 15671.5 on 08-03-2022 is in continuation with recent top formation at 18114.70 on 04-04-2022 and no confirmation of its completion yet on EOD charts but Weekly Doji candle formation in previous week which is suggesting indecision and confusion on the side of both buyers and sellers.. 

As sideways trading was seen between 17601-18114 in last 5 sessions with higher levels good selling also therefore if fresh selling develops in next week then correction of this 2443 Points rally will begin in the coming week but complete fresh selling is firstly required for sustaining below 17601 because lower levels good consolidation was also seen last Friday. 

Although finally 17601-18114 break out will confirm next trend but short term indicator Stochastic is showing some more down moves possibilities and MACD is also suggesting watchful approach as well as higher levels selling in previous week therefore remain cautious in next week because sustaining below 17601 will confirm 2443 Points Pull Back Rally correction.

Firstly watch next supports for the life of last 3 sessions correction

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-04-2022)

Nifty-Intra Day Chart (07-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Whole day intraday volatility Only

2- Whole day actual trading between 17624-17787

Conclusions from intra day chart analysis 

Down moves towards next supports was told for today and Nifty closed 0.94% down at 17639.55 which was just above yesterday mentioned 1st supports(17568-17597).

As whole day only inraday volatility and one sided any clear cut intraday trading pattern formation was not seen therefore firstly sustaining beyond next 1st supports(17568-17597) should be watched tomorrow for the life of last 3 sessions correction.

 Down moves towards next supports

Nifty-Intra Day Chart Analysis &

Market Outlook(07-04-2022)

Nifty-Intra Day Chart (06-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Selling between 17818-17901

2- Whole day actual trading between 17780-17901

Conclusions from intra day chart analysis 

As firstly huge gap down opening and after that whole day good selling between  17780-17901 therefore down moves are expected below today lowest(17780) and towards following next supports:-

1- 17568-17597

2- 17512-17553

3- 17436-17485

 Down moves after good intraday selling

Nifty-Intra Day Chart Analysis &

 Market Outlook(06-04-2022)

Nifty-Intra Day Chart (05-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Sharp down after positive opening

2- Selling between 17975-18095

3- Sharp fall in last hour

4- Whole day actual trading between 17922-18095

Conclusions from intra day chart analysis 

Following lines were told on 04-04-2022 in "Firstly rally continuation amid big intraday correction possibility":-

1- on going rally will remain continued.

2- big intraday correction may also be seen

As was told 100% same happened:-

1- Firstly up moves were seen after positive opening

2- Nifty traded 131 points down.

Although firstly positive opening but immediately sharp fall was seen and after that good intraday selling developed between 17975-18095 therefore sharp fall in last hour on 05-04-2022 and resultant down moves will remain continued in the coming session also.

 Firstly rally continuation amid big intraday correction possibility

Nifty-Intra Day Chart Analysis & 

Market Outlook(05-04-2022)

Nifty-Intra Day Chart (04-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Sharp up after gap up opening

2- Down moves in Bullish Falling Channel upto 17895

3- Up moves with downward corrections

4- Whole day actual trading between 17792-18114

Conclusions from intra day chart analysis 

Following conclusive lines were told on 02-04-2022 in " Firstly rally continuation and finally 17436-18351 will confirm next big moves":-

1- Pull Back Rally continuation towards next psychological level at 18000.

2- Firstly rally continuation expectations in next week

As was told 100% same happened and Rally remained continued above 18000 as well as closed above it today.

Firstly sharp up moves after gap up opening and after that higher levels good consolidation also through Down moves in Bullish Falling Channel up to 17895 as well as up moves with downward corrections therefore whole day good consolidation will be understood and on going rally will remain continued.

As sentiment has turned extremely heated and Very Short Term indicators have also moved into Overbought zone therefore big intraday correction may also be seen but until Nifty will not sustain below 17895 till then decisive moves will not be seen because good consolidation was seen above it today.

 Firstly rally continuation and finally 17436-18351 will confirm next big moves

Technical Analysis,Research & Weekly Outlook

(Apr 04 to Apr 08,2020)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (01-Apr-2020):-

Technical Patterns and Formations in EOD charts

1- 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- Corrective Wave-A completion at 16410.20 on 20-12-2021

8- Wave-B completion at 18351.00 on 18-01-2022.

9- Wave-C bottom formation at 15671.5 on 08-03-2022

10- Pull Back Rally continuation with recent top formation at 17703.70 on 01-04-2022  

Conclusions from EOD chart analysis

(Waves structure)

Waves structure which begun through its Impulsive Wave-1 from 7511.10 on 24-03-2020 completed after its 5th Wave termination at 18604.50 on 19-10-2021 and corrective Wave-A of "ABC" correction started. Wave-C bottom of "ABC" correction formed at 15671.5 on 08-03-2022 and after that Pull Back Rally begun which is in continuation with recent top formation at 17703.70 on 01-04-2022. 

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (01-Apr-2020):-

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 completion at 16410.20 on 20-12-2021

3- Wave-B completion at 18351.00 on 18-01-2022.

4- Wave-C bottom formation at 15671.5 on 08-03-2022

5- Pull Back Rally continuation with recent top formation at 17703.70 on 01-04-2022

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

7- Stochastic:- %K(5)- 91.16 & %D(3)- 82.59.

8- In MACD- MACD line has intersected Average line /upward and its both lines are rising in positive zone.

9- MACD(26,12)- 459.70 & EXP(9)- 322.03 & Divergence- 137.67

Conclusions from EOD chart analysis

(Stochastic & MACD)

Although Pull Back Rally continuation after Wave-C bottom formation at 15671.5 on 08-03-2022 and no confirmation of its completion yet on intraday and EOD charts but both lines of Short term indicator Stochastic have moved into bought zone and showing first signal of Short Term correction beginning. As both lines of MACD are rising in positive zone therefore confirming that upward trend is completely intact.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (01-Apr-2020):-

Technical Patterns and Formations in EOD charts

1-Averages

A- 5-Day SMA is today at   17436

B- 21-Day SMA is today at  16915

C- 55-Day SMA is today at  17214

D- 100-Day SMA is today at 17315

E- 200-Day SMA is today at 17078 

Conclusions from EOD chart analysis

(Averages)

As Nifty has closed above all the Short to Long Term Averages and some Averages have started to rise also therefore suggesting that Indian markets are in Bullish mode and on going Pull Back rally will remain continued.

Nifty-Intra Day Chart Analysis

(01-Apr-2020)

Nifty-Intra Day Chart (01-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Up moves after weaker opening

2- Consolidation between 17512-17553

3- Consolidation between 17568-17597

4- Sharp  125 Points jump was seen in last half hour

5- Whole day actual trading between 17423-17703

Conclusions from intra day chart analysis 

Although weaker opening but after that recovery from lower levels and 2 times sideways good consolidation also therefore sharp 125 Points jump was seen in last half hour and closing was at the top of the day.

As good consolidation between 17512-17597 therefore rally will remain continued and until complete selling will not develop till then Nifty will not sustain below 17512.As sentiment has turned heated after last Friday strong rally therefore some intraday correction can not be ruled between and near about 17597-17703 before fresh decisive rally above 17703.

Conclusions

(After putting all studies together)

All the trends are up and Pull Back Rally continuation towards next psychological level at 18000. As Nifty has closed above Long Term Trend decider 200-Day SMA(today at 17078) in last 11 sessions therefore confirming that Long Term Trend has turned up and on going rally will remain continued as well as until complete selling patterns will not develop on intraday and EOD charts till then any big correction will not be seen because Nifty has closed above last 35 sessions trading range also. 

As both lines of Short term indicator Stochastic have moved into bought zone and showing first signal of Short Term correction beginning as well as sentiment has turned heated therefore Short Term correction may begin also any day but intraday charts have not shown selling patterns formations yet therefore let complete selling patterns develop on intraday charts then Short Term correction will begin hence remain watchful also.

Next resistances above last Friday highest(17703.70) are as follows:-

1- 17795-17832

2- 17959-18129

3- 18292-18321

4- 18379-18458

5- 18548-18604 

Next supports above last Friday closing(17670.50) are as follows:-

1- 17568-17597

2- 17512-17553

3- 17436-17485

4- 17344-17387(Gap Support)

5- 17236-17387

6- 17138-17185

7- 17004-17081

Wave-C bottom was formed at 15671.5 and Nifty has moved up 2031 points from this levels as well as Long Term Trend has turned up therefore strong signals of Wave-C completion at 15671.5 and news Waves structure formation from this level for fresh rally above life time highest(18604.50),its confirmation will be after moving the top of Wave-B at 18351.00.

Firstly rally continuation expectations in next week and until Nifty will not sustain below 17436 till then deeper correction will not be seen as well as moving above 18351 will confirm rally above life time highest therefore Nifty will trade and prepare for next big moves between 17436-18351 in the coming week/weeks as well as finally confirm next big moves after moving beyond this range.

Watch levels for next decisive moves

 beginning confirmations 

Nifty-Intra Day Chart Analysis & 

Market Outlook(01-04-2022)

Nifty-Intra Day Chart (31-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channels

2- Whole day actual trading between 17436-17559

Conclusions from intra day chart analysis 

Although nifty moved up 60 points in first half hour but not sustained at higher levels becuse selling between 17485-17515 yesterday and Nifty closed below 17485 today. As some consolidation was also seen today through Down moves in Bullish Falling Channels therefore it will understood that Nifty is preparing for next decisive moves between 17436-17559 and firstly sustaining beyond this range should be watched tomorrow for its beginning confirmations.

Firstly watch sustaining beyond 

17485-17515 today

Post-open Outlook(31-03-2022)

As selling between 17485-17515 yesterday therefore Nifty is hovering around 17515 since today morning but slipped from higher levels also therefore firstly sustaining it beyond should be watched today for next decisive up moves beginning confirmations and correction will confirm after sustaining below 17485 hence sustaining beyond 17485-17515 should be watched for next decisive moves beginning confirmations.

 Down moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(31-03-2022)

Nifty-Intra Day Chart (30-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Slow up moves after gap up strong opening

2- Selling between 17485-17515

3- Whole day actual trading between 17388-17522

Conclusions from intra day chart analysis 

Although gap up strong opening but after that slow up moves seen and higher levels selling also between 17485-17515 therefore down moves are expected below today lowest(17388) tomorrow.

 Firstly watch 17322 for on going

 rally continuation confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(30-03-2022)

Nifty-Intra Day Chart (29-Mar-2022):-

Technical Patterns formation in today intraday charts

1- More than 5 hours sideways trading between 17236-17322

2- sharp up moves

3- Whole day actual trading between 17236-17343

Conclusions from intra day chart analysis 

Following last 2 resistances of previous 6 sessions was posted  on 26-03-2022 in "Finally 17007-17442 will confirm next big moves":-

1- 17248-17307

2- 17331-17424

Firstly Nifty traded more than 5 hours sideways between 17236-17322 which was within and about after that above mentioned first resistance range(17248-17307) and after that sharp up moves were seen in last hour. 

Although today closing was at the top of the day but clear consolidation patterns were not seen within 5 hours sideways trading(17236-17322) therefore firstly sustaining above 17322 should be watched tomorrow for on going rally continuation confirmations.

 Up moves above today highest

Nifty-Intra Day Chart Analysis & 

Market Outlook(29-03-2022)

Nifty-Intra Day Chart (28-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Consolidation between 17004-17081

2- Up moves with downward corrections

3- Whole day actual trading between 17004-17235

Conclusions from intra day

chart analysis 

Although firstly slipping 177 points after positive opening but lower levels consolidation between 17004-17081 therefore up moves were seen in last 3 hours which were with downward corrections therefore whole day good consolidation will be understood and resultant up moves above today highest and towards those next resistances will be seen tomorrow which have already been updated in previous Outlook on 26-03-2022.

 Finally 17007-17442 will confirm 

next big moves

Technical Analysis,Research & Weekly 

Outlook(Mar 25 to Apr 01,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (25-Mar-2022):-

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 completion at 16410.20 on 20-12-2021

3- Wave-B completion at 18351.00 on 18-01-2022.

4- Wave-C bottom formation at 15671.5 on 08-03-2022

5- Pull Back Rally continuation with recent top formation at 17442.40 on 23-03-2022 

6- Last 6 Sessions sideways trading between 17007-17442 

7- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling below Over bought zone.

8- Stochastic:- %K(5)- 50.24 & %D(3)- 66.25.

9- In MACD- MACD line has intersected Average line upward and its both lines are rising.

10- MACD(26,12)- 303.47 & EXP(9)- -79.85 & Divergence- 383.32

Conclusions from EOD chart

analysis (Stochastic & MACD)

Pull Back Rally continuation with recent top formation at 17442.40 on 23-03-2022 and no confirmation of its completion yet on EOD and intraday charts but last 6 Sessions sideways trading between 17007-17442 and finally sustaining beyond this range will form and confirm next trend.

As MACD line has intersected Average line upward and its both lines are rising therefore showing Upward trend formations but in Stochastic its both lines are falling below Over bought zone therefore confirming Short Term correction also.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (25-Mar-2022):-

Technical Patterns and Formations in EOD charts

1-Averages

A- 5-Day SMA is today at   17211

B- 21-Day SMA is today at  16734

C- 55-Day SMA is today at  17258

D- 100-Day SMA is today at 17340

E- 200-Day SMA is today at 17037 

 

Conclusions from EOD chart

analysis (Averages)

All the Short to Long term Averages have flattened and Nifty has traded between and near about 

5-Day SMA to 200-Day SMA(except 21-Day SMA) for the last 6 sessions which means that Indian markets are preparing for next big moves which will be firstly decided through sustaining beyond 5-Day SMA(17211) and finally:-

1- Sustaining above 100-Day SMA(17340) will mean all trend turning up confirmations.

2- Sustaining below 200-Day SMA(17037) will mean all trend turning down confirmations.

Nifty-Last 6 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Mar 17 to Mar 25,2022):-

Technical Patterns formation in last 6 Sessions intraday charts

1- Selling(Resistances) in last 6 Sessions are as follows:-

A- 17180-17246

B- 17218-17252

C- 17248-17307

D- 17331-17424

2- Consolidation(Supports) in last 6 Sessions are as follows:-

A- 17077-17145 

B- 170012-17069 

3- Last 6 Sessions actual trading between 17007-17442 

Conclusions from 6 Sessions

intra day chart analysis 

Pull Back Rally which started from 15671.5 on 08-03-2022 has turned sideways between 17007-17442 for the last 6 Sessions with above mentioned supports and resistances within it. As Nifty will firstly traded and prepare for next trend within this range in the coming week therefore sustaining it beyond should also be watched for next trend beginning confirmations. 

Nifty-Intra Day Chart

Analysis(25-Mar-2022)

Nifty-Intra Day Chart (25-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 17180-17246

2- Consolidation between 17077-17145

3- Whole day trading between 17077-17294

Conclusions from intra day

chart analysis 

Although positive opening last Friday but not sustained at higher levels and slipped into negative zone within first 15 minutes. As firstly selling therefore down moves were seen in Mid-session but lower levels consolidation hence sharp up moves in last half hour.

As both lower levels consolidation and higher levels selling also therefore expected that Nifty will trade within last Friday actual trading range(17077-17246) in the beginning of coming week and prepare for next decisive moves within this range as well as firstly sustaining it beyond should be watched in next week for next decisive moves beginning.

Conclusions

(After putting all studies together)

As on going Pull Back Rally which started from 15671.5 on 08-03-2022 has turned sideways between 17007-17442 for the last 6 sessions and all the Short to Long term Averages except 21-Day SMA have also flattened between 17037-17340 which is within last 6 sessions trading range also therefore finally sustaining beyond 17007-17442 will confirm next Long Term trend.

As above mentioned supports and resistances are lying 17007-17442 therefore firstly sustaining it beyond should be watched in the coming week/weeks because it will confirm following big moves after next Long Term trend formation confirmations.

1- Sustaining above 17442 will mean Long Term Trend turning up confirmations and resultant fresh rally towards and possibly above life time highest(18604.50) after "ABC" correction completion at 15671.5 on 08-03-2022.

2- Sustaining below 17007 will mean Long Term Trend turning down confirmations and resultant fresh down moves towards the bottom of Wave-C at at 15671.5.

 Watch Levels amid down moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(25-03-2022)

Nifty-Intra Day Chart (24-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channel

2- Down moves in Bullish Falling Channel

3- Selling between 17218-17252

4- Up moves in Bearish Rising Channel

5- Whole day actual trading between 17092-17291

Conclusions from intra day

chart analysis 

Although gap down opening and firstly 150 points negative zone trading but after that 200 points recovery also lower levels. As more than first 2 hours some up moves were in Bearish Rising Channel therefore Down moves were seen in next 1 hours which were in Bullish Falling Channel little above lower levels also hence some recovery from lower levels.

As some selling between 17218-17252 in last hour and selling was seen above it in first 2 hours also but some consolidation was also above 17150 therefore expected that Nifty will firstly trade and prepare for next decisive moves within 17150-17291 and finally sustaining it beyond will confirm next decisive movs which should be watched tomorrow amid down moves expectations towards 17092.

 Down moves towards next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(24-03-2022)

Nifty-Intra Day Chart Analysis(23-Mar-2022)

Technical Patterns formation in today intraday charts

1- Selling between 17331-17424

2- Sharp fall in Mid-Session

3- Selling between 17248-17307

4- Whole day actual trading between 17200-17442

Conclusions from intra day chart analysis 

Although strong gap up opening but selling developed and not sustaining at higher levels therefore sharp fall was seen in Mid-Session. As again follow up selling in last 3 hours therefore today closing was near the lower levels of the day. 

As only intraday selling patterns formations and consolidation not developed today therefore down moves are expected below today lowest(17200) and towards following next supports between 170012-17069.

 As busy therefore I could not update Stock Market Outlook of today(23-03-2022) but tomorrow Outlook will be posted positively.

 As busy therefore Stock Market Outlook of today(22-03-2022) is not being updated.

 Sideways market within supports & resistances if no big negative news from Russia-Ukraine 

war front

Technical Analysis,Research & Weekly 

Outlook(Mar 21 to Mar 25,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (17-Mar-2022):-

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 completion at 16410.20 on 20-12-2021

3- Wave-B completion at 18351.00 on 18-01-2022.

4- Wave-C bottom formation at 15671.5 on 08-03-2022

5- Pull Back Rally continuation with recent top formation at 17344.60 on 17-03-2022 

6- Stochastic- %K(5) both lines are kissing in Over bought zone.

7- Stochastic:- %K(5)- 87.62 & %D(3)- 87.74.

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

9- MACD(26,12)- -214.37 & EXP(9)- -450.59 & Divergence- 236.22

Conclusions from EOD chart analysis

(Stochastic & MACD)

Pull Back Rally continuation strongly after Wave-C recent bottom formation at 15671.5 and no indication of on going Pull Back Rally completion yet on EOD and intraday charts.

As MACD line has intersected Average line upward and its both lines are rising in negative zone therefore showing Upward trend formations but in Stochastic its both lines are kissing in Over bought zone therefore signalling Short Term correction beginning possibility also.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (17-Mar-2022):-

Technical Patterns and Formations in EOD charts

1-Averages

A- 5-Day SMA is today at   16885

B- 21-Day SMA is today at  16740

C- 55-Day SMA is today at  17278

D- 100-Day SMA is today at 17380 

E- 200-Day SMA is today at 16997

 

Conclusions from EOD chart

analysis (Averages)

As Nifty closed above all Averages except 100-Day SMA(17380) at 17287.05 on 17-03-2022 therefore showing strength because closed well above Long Term Trend decider 200-Day SMA(16997),let Nifty to sustain above it then rally above life time highest will be considered after Wave-C completion confirmation at 15671.5. 

Nifty-Intra Day Chart Analysis

(17-Mar-2022)

Nifty-Intra Day Chart (17-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Sharp up after huge gap up opening

2- Sideways trading between 17251-17344

3- Whole day actual trading between 17176-17344

Conclusions from intra day chart analysis 

Although firstly sharp up after huge gap up opening but sideways trading was seen between 17251-17344 in last more than 4 hours therefore firstly sustaining beyond this range should be watched in the beginning of coming week for next decisive moves beginning. 

As selling patterns were not seen and consolidation patterns formations between 17251-17344 therefore firstly up moves are expected and complete selling is required for slipping and sustaining below 17251,let it happen then decisive down moves will be seen.

Conclusions

(After putting all studies together)

1- Short Term Trend is up.

2- Intermediate Term Trend is sideways.

3- Long Term Trend is sideways.

Although Short Term Trend is up but no confirmation of sustaining above 55 & 200-Day SMA therefore Intermediate & Long Term Trends will be considered sideways,let sustaining above both these SMA confirmation come then then these 2 Trends will be up.

MACD is showing Upward trend formations but in Stochastic its both lines are kissing in Over bought zone therefore signalling Short Term correction beginning possibility. As intraday charts have not shown selling patterns formations therefore on going Pull Back Rally will remain continued towards following next resistances in the beginning of next week:-

1- 17370-17417

2- 17580-17639 

3- 17648-17684

4- 17699-17731  

5- 17736-17761

Next supports of Nifty are as follows:-

1- 17185-17220

2- 16838-16943

3- 16559-16672

Firstly watch next resistances and failing to sustain above any one will confirm Short Term correction beginning towards above mentioned supports. More or less sideways market is expected within above mentioned supports and resistances if there is no big negative news from Russia-Ukraine war front.

 Pull Back Rally continuation 

towards next resistances

Nifty-Intra Day Chart Analysis &

Market Outlook(17-03-2022)

Nifty-Intra Day Chart (16-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Consolidation between 16838-16943

2- Sharp up in last half hour

3- Whole day actual trading between 16838-16987

Conclusions from intra day chart analysis 

As good intraday consolidation till 03:00 PM between 16838-16943 which  was well above last 11 sessions highest(16815) therefore sharp up moves were seen in last half hour and it suggests that on going Pull Back Rally will remain continued tomorrow also towards following next resistances:-

A- 17156-17220

B- 17290-17417

 Up moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-03-2022)

Nifty-Intra Day Chart (15-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Whole day down moves in Bullish Falling Channels

2- Whole day actual trading between 16555-16927

Conclusions from intra day chart analysis 

Although closing little above the lower levels of the day after loosing 372 points from higher levels but Whole day down moves in Bullish Falling Channels therefore intraday consolidation will be understood and firstly up moves are expected towards 16927,let Nifty to sustain above it then decisive up moves will be seen.

Watch levels for next Short Term moves beginning amid Russia and Ukraine war led uncertain news 

Nifty-Intra Day Chart Analysis &

Market Outlook(15-03-2022)

Nifty-Intra Day Chart (14-Mar-2022):-

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- Sharp up moves

3- Sideways trading between 16847-16887

4- Whole day actual trading between 16607-16887

Conclusions from intra day chart analysis 

As Russian negotiator says significant progress and hints breakthrough likely in 4th round of talks between Russia and Ukraine as well as Dow Futures had traded almost whole day more than 250 points up therefore firstly Up moves were seen with downward corrections and after that Sharp up moves also developed.

Although sideways trading in last hour between 16847-16887 and selling patterns were not seen but very Short Term indicators have turned overbought therefore firstly sustaining beyond 16847-16887 should be watched tomorrow for next Short Term moves beginning amid Russia and Ukraine war led uncertain news.

 Firstly watch 15672 for next Short Term trend formation confirmations

Technical Analysis,Research & Weekly 

Outlook(Mar 14 to Mar 17,2022)

Nifty-EOD Chart Analysis

(Bollinger Band)

Nifty-EOD Chart (11-Mar-2022):-

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 completion at 16410.20 on 20-12-2021

3- Wave-B completion at 18351.00 on 18-01-2022.

4- Wave-C continuation with recent bottom formation at 16944.6 on 07-03-2022

5- Facing resistance at Middle Band

Conclusions from EOD chart

analysis(Bollinger Band)

Wave-C continuation with recent bottom formation at 16944.6 on 07-03-2022 and no confirmation of its completion yet on EOD charts as well as Nifty faced resistance at Middle Band therefore generated down moves possibilities towards Lower Band of Bollinger Band.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (11-Mar-2022):-

Technical Patterns and Formations in EOD charts

 

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

2- Stochastic:- %K(5)- 78.25 & %D(3)- 57.63

3- In MACD- its both lines are kissing.

4- Facing resistance at falling Trend line

Conclusions from EOD chart analysis

(Stochastic & MACD)

As both lines are rising towards Over bought zone in Stochastic therefore showing some up moves possibilities but Nifty has faced resistance at falling Trend line in previous week therefore sustaining beyond falling trend line should be firstly watched in next moves for decisive up moves above previous week highest because both lines are kissing in MACD also and MACD is not showing any side Short Term Trend at this moment.

Nifty-Last 11 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Feb 24 to Mar 11,2022):-

Technical Patterns formation in last 11 Sessions intraday charts

1- Selling(Resistances) in last 11 Sessions are as follows:-

A- 16638-16745(Good selling in last 2 sessions) 

2- Consolidation(Supports) in last 11 Sessions are as follows:-

A- 15672-16028

3- 8 Hours sideways trading between 16603-16740 on 25-02-2022 & 28-02-2022

4- Huge intraday volatility between 16134-16456 on 04-03-2022 

5- Last 11 Sessions actual trading between 15672-16815 

Conclusions from 11 Sessions

intra day chart analysis 

As last 11 Sessions actual trading between 15672-16815 with above mentioned supports and resistances which are almost equally strong therefore expected that Nifty will firstly trade and prepare for next decisive moves within last 11 Sessions trading range and finally sustaining beyond this range will confirm next trend which should be firstly watched in next week for its confirmations.

As good selling between 16638-16745 in last 2 sessions therefore expected that firstly down moves will be seen in next week towards next supports between 15672-16028.

Conclusions

(After putting all studies together)

1- Short Term Trend is sideways.

2- Intermediate Term Trend is down.

3- Long Term Trend is down.

As Nifty faced resistance at falling trend line and Middle Band of Bollinger Band as well as good selling between 16638-16745 in last 2 sessions of previous week therefore firstly sustaining beyond next and last supports(15672-16028) of last 11 sessions should be watched in the coming week for next Short Term trend formation confirmations. 

Long and Intermediate Term Trends are already down and sustaining below last 11 sessions lowest(15672) will mean fresh down moves beginning after Short Term Trend also turning down confirmations.