Today highest will confirm 

rally continuation or Short Term

 correction beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-08-2022)

Nifty-Intra Day Chart (01-Aug-2022):-

Technical Patterns formation in today intraday charts

1- Whole day rally continuation after gap up strong opening 

2- Whole day actual trading between 17155-17356

Conclusions from intra day chart analysis 

Although today closing was at he top of the day and at the highest level of on going rally as well but Short Term indicators have turned Over bought therefore Short Term correction is very much due which may be seen any day.

Remain cautiouus and firstly watch sustaining beyond today highest(17356) for rally continuation or Short Term correction beginning confirmations.

 Firstly Rally continuation before

 Short Term Correction beginning

Technical Analysis,Research & Weekly Outlook

(Aug 01 to Aug 05,2022)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (29-Jul-2022):-

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 with Double Zig-Zag pattern formation 

7- 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- Wave-X completion at 18114.70 on 04-04-2022

11- Wave-A completion at 15735.80 on 12-05-2021

12- Wave-B completion at 16793.80 on 03-06-2022

13- Wave-C completion at 15183.4 on 17-06-2022

14- Wave-A continuation with recent top formation at 17172.8 on 29-07-2022

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 of which Waves structure begun from 7511.10 on 24-03-2020 that completed from its Impulsive Wave-5 after new life time top formation at 18604.50 on 19-10-2021 and corrective Wave-A of "ABC" correction started.

Now more than 9 months old "ABC" correction is on with Double Zig-Zag pattern formation and at present its Wave-A continuation with recent top formation at 17172.8 on 29-07-2022. 

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (29-Jul-2022):-

Technical Patterns and Formations in EOD charts

1- Wave-C completion at 15183.4 on 17-06-2022

2- Wave-A continuation with recent top formation at 17172.8 on 29-07-2022

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

4- Stochastic:- %K(5)- 86.41 & %D(3)- 64.22.

5- Stochastic is showing negative divergence

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

7- MACD(26,12)- 432.19 & EXP(9)- 322.82 & Divergence- 109.37

Conclusions from EOD chart analysis

(Stochastic & MACD)

Now Wave-A continuation with recent top formation at 17172.8 on 29-07-2022 after Wave-C completion at 15183.4 on 17-06-2022 and during these almost 2000 rally:-

1- In Stochastic indicator %K(5) line has intersected %D(3) line upward and its both lines are rising towards and within Over bought zone. As this indicator is showing negative divergence also therefore indicating Short Term correction beginning signals.

2- In MACD indicator MACD line has intersected Average line upward and its both lines are rising in positive zone therefore showing upward trend formations and suggesting up moves continuation in the coming sessions. 

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (29-Jul-2022):-

Technical Patterns and Formations in EOD charts

Averages:-

A- 5-Day SMA is today at 16768 

B- 21-Day SMA is today at 16299

C- 55-Day SMA is today at 16133

D- 100-Day SMA is today at 16544

E- 200-Day SMA is today at 17025

 

Conclusions from EOD chart analysis

(Averages)

As Nifty closed above Intermediate Term Trend decider 55-Day SMA in last 10 sessions therefore confirmations of its turning up. Nifty closed well above Long Term Trend decider 200-Day SMA at 17158.25 last Friday after huge gap up opening therefore strong indications of its also turning up. As Nifty sustaining above 200-Day SMA(17025) in next week will confirm on going rally continuation after all trends turning up therefore should be firstly watched in next week for its confirmations.  

Nifty-Intra Day Chart Analysis

(29-Jul-2022)

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

Technical Patterns formation in today intraday charts

1- Sharp down after strong opening

2- Consolidation between 17061-17121

3- Sharp up moves in last hour

4- Whole day actual trading between 17019-17172

Conclusions from intra day chart analysis 

Although firstly sharp down moves after gap up strong opening but good consolidation developed between 7061-7121 in Mid-session therefore sharp up moves were seen in last hour and last Friday closing was at the top of the day.

As only consolidation and no selling patterns formations last friday therefore firstly up moves will be seen in the beginning of next week.

Conclusions (After putting all studies together)

Short and Intermediate Term Trends are up. As Long Term Trend will be up after sustaining above its decider 200-Day SMA(17025) therefore it should be watched in the coming week/weeks.

Although MACD is confirming upward trend but Stochastic is showing Short Term correction beginning signals which may be seen in next week and finally decisive fresh up moves will be considered after expected Short Term correction completion.  

Almost 19 months rally of on going Waves structure completed at 18604.50 on 19-10-2021 and after that corrective Wave-A of "ABC" correction started which is with Double Zig-Zag pattern formation and now more than 9 months old. 

Now Wave-A of on going correction is in continuation with recent top formation at 17172.8 on 29-07-2022 after Wave-C completion at 15183.4 on 17-06-2022 and no indication of its completion yet on EOD and intraday charts therefore firstly rally continuation is expected. As Short Term Correction beginning signals generation from Stochastic indicator therefore it will also be seen in next week after some up moves.

 Rally continuation with intraday

 volatility possibility

Nifty-Intra Day Chart Analysis & 

Market Outlook(29-07-2022)

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

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 16747-16947

Conclusions from intra day chart analysis 

As Dow Jones closed more than 400 points up after FOMC announcements yesterday therefore firstly gap up strong opening of Indian markets and after that whole day up moves were seen with downward corrections. 

Intraday selling patterns were not seen and whole day consodation developed through up moves with downward corrections therefore rally will remain continued but Very Short Term indicators have turned Over bought hence intraday volatility may also be seen tomorrow.

 Firstly watch FOMC announcements reactions for next decisive moves confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(28-07-2022)

Nifty-Intra Day Chart (27-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Firstly slipping after negative opening

2- Up moves with downward corrections

3- Whole day actual trading between 16439-16653

Conclusions from intra day

chart analysis 

Although firstly slipping after negative opening but up moves begun which remained continued till last minutes because FOMC announcements expectations tonight led Global markets rally was seen whole day today in following manners:-

1- Dow Jones Futures traded whole day more than 150 points up.

2- All the Asian markets traded and closed in Green except Hang Seng

3- All the European markets opened and traded positive during Indian trading hours.

As Indian markets reacted on Global markets and FOMC announcements expectations today therefore firstly FOMC announcements reactions on Global markets should be watched tomorrow for next decisive moves confirmations.

On going correction continuation

 expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(27-07-2022)

Nifty-Intra Day Chart (26-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Sharp fall in first 10 minutes after flat opening 

2- Down moves with upward corrections

3- Up moves in Bearish Rising Channel

4- Down moves with upward corrections

5- Whole day actual trading between 16464-16636

Conclusions from intra day chart analysis 

Following lines were told:- 

1- on 21-07-2022 in "Finally sharp down moves will be seen":-

finally sharp down moves will be seen in the coming 2/3 sessions and below last 2 sessions lowest(16491)

2- In Weekly Outlook on 23-07-2022 in "Short Term correction will be seen":-

Short Term correction may begin any day therefore it will be seen in next week

As was told 100% same happened and:- 

1- Down moves have been seen within 3 sessions sessions and Nify slipped as well as closed below 16491 at 16483.85 with today lowest formations at 16463.30.

2- Down moves and negative closing had been seen in both sessions of this week.

As whole day good selling was seen through selling patterns formations after sharp fall in first 10 minutes therefore 0.88% negative closing of today was near the lower levels of the day and on going correction continuation is expected in the coming session also.

Watch 16565-16752 for next 

decisive moves confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(26-07-2022)

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

Technical Patterns formation in today intraday charts

1- Sharp fall after weaker opening

2- Consolidation between 16565-16628

3- Volatility in last 2 hours between 16603-16685

4- Whole day actual trading between 16565-16706

Conclusions from intra day chart analysis 

Although firstly sharp fall after weaker opening but lower levels consolidation between 16565-16628 therefore up moves were seen after 01:30 PM. As Nifty could not sustain at higher levels also therefore volatility will be understood in last 2 hours between 16603-16685.

Selling was seen between 16704-16752 last Friday and Nifty slipped from 16706 today as well as consolidation developed between 16565-16628 therefore both supports and resistances will be understood between 16565-16752 in last 2 sessions. 

Expected that Nifty will trade and prepare for next decisive moves between 16565-16752 in the coming sessions and finally sustaining beyond this range will confirm it hence should be watched.

Short Term correction will be seen

Technical Analysis,Research & Weekly Outlook

(Jul 25 to Jul 29,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (22-Jul-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 with Double Zig-Zag pattern formation 

2- 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- Wave-X completion at 18114.70 on 04-04-2022

6- Wave-A completion at 15735.80 on 12-05-2021

7- Wave-B completion at 16793.80 on 03-06-2022

8- Wave-C completion at 15183.4 on 17-06-2022

9- Wave-A continuation with recent top formation at 16752.3 on 22-07-2022

10- Stochastic- %K(5) line has intersected %D(3) line upward and now its both lines are kissing in Over bought zone.

11- Stochastic:- %K(5)- 94.11 & %D(3)- 94.56.

12- Stochastic is showing negative divergence

13- In MACD- MACD line has intersected Average line upward and its both lines are kissing positive zone.

14- MACD(26,12)- 275.08 & EXP(9)- 253.40 & Divergence- 21.68

Conclusions from EOD chart analysis

(Stochastic & MACD)

Impulsive Wave-5 completed at 18604.50 on 19-10-2021 and "ABC" correction started which is in continuation with Double Zig-Zag pattern formation. Now Wave A of Zig-Zag pattern continuation with recent top formation at 16752.3 on 22-07-2022.

As both lines of Stochastic are kissing in Over bought zone therefore strong signal of Short Term correction emerged on EOD charts. In the same manner both lines of MACD are also kissing in positive zone therefore this indicator is also indicating Short Term correction beginning in Short Term.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart(22-Jul-2022):-

Technical Patterns and Formations in EOD chartsin 

Averages:-

A- 5-Day SMA is today at 16492

B- 21-Day SMA is today at 16066 

C- 55-Day SMA is today at 16069

D- 100-Day SMA is today at 16525

E- 200-Day SMA is today at 17051

 

Conclusions from EOD chart analysis

(Averages)

As Nifty closed at 16719.5 last Friday and it is well above 55-Day SMA(16069) & 100-Day SMA(16525) also therefore confirmation of Intermediate Term trend turning up but Long Term trend is still down because Nifty is  well below its decider 200-Day SMA(17051)

Nifty-Intra Day Chart Analysis

(22-Jul-2022)

Nifty-Intra Day Chart (22-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Sharp fall after gap up strong opening.

2- Up moves in Bearish Rising Channels 

3- Selling between 16704-16752 

4- Whole day actual trading between 16611-16752

Conclusions from intra day chart analysis 

Although gap up strong opening last Friday but firstly sharp fall was seen and after that up moves begun which remained continued till last hours. As most intraday up moves were in Bearish Rising Channels and higher levels selling was also seen between 16704-16752 therefore expected that firstly down moves will be seen in the beginning of next week.

Conclusions (After putting all studies together)

Now Wave-A of Double Zig-Zag pattern continuation with recent top formation at 16752.3 on 22-07-2022 and no indication of its completion yet on EOD charts.

Although Wave-A has moved above all the Short and Intermediate Term averages but still below Long Term deciding Average during its 1568.90 points gaining 26 sessions journey therefore its Short to Intermediate Term correction is very much due. 

As selling patterns developed on intraday chart last Friday and Short Term indicators are also suggesting that Short Term correction may begin any day therefore it will be seen in next week for correcting Wave-A rally. 

 Finally sharp down moves 

will be seen

Nifty-Intra Day Chart Analysis & 

Market Outlook(22-07-2022)

Nifty-Intra Day Chart (21-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channel

2- Selling Patterns formation between 28891-28972

3- Up moves in last hours

4- Whole day actual trading between 16484-16626

Conclusions from intra day chart analysis 

Although firstly slippping after flat opening and traded 46 points down also but not sustaining at lower levels and up moves started which remained continued till last minutes. 

As selling was also seen firstly through up moves in Bearish Rising Channel and after that selling Patterns formation between 28891-28972 therefore expected that finally sharp down moves will be seen in the coming 2/3 sessions and below last 2 sessions lowest(16491) despite today 0.51% Green closing with Up moves in last hours because:-

1- Very Short Term indicators have turned Over Bought

2 Intraday charts of last 2 sessions are showing selling patterns formation

 More than 1% correction expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(21-07-2022)

Nifty-Intra Day Chart (20-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 16531-16588

2- Whole day actual trading between 16491-16588

Conclusions from intra day chart analysis 

As Dow jones closed 754 Points up yesterday and all the Asian markets were trading in Green zone as well as some Asian markets were more than 1.5% positive with Dow jones Futures more than 150 points up therefore sentiment was boosted today morning hence strong opening of Indian markets and whole day today trading with good gains and finally 1.1.% positive closing today.

Although such strong today market but intraday patterns are showing good selling at higher levels therefore more than 1% correction is expected in the coming sessions.

 Fresh selling tomorrow will mean Short Term Correction beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(20-07-2022)

Nifty-Intra Day Chart (19-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channels

2- Down moves

3- Sharp up

4- Whole day actual trading between 16188-16359

Conclusions from intra day chart analysis 

Although weaker opening but not sustaining at lower levels and up moves up moves started which remained continued till last half hour and Nifty closed with 0.38% up. As up moves were in Bearish Rising Channels therefore down moves were also seen in Mid-session.

As sufficient consolidation patterns were not seen and selling patterns formations also developed through up moves in Bearish Rising Channels therefore until fresh consolidation will not be seen within or near about today trading range(16188-16359) till then nifty will not sustain above today highest. Fresh selling patterns formations tomorrow will mean Short Term Correction beginning below today lowest Dow Jones now trading 589 points up.

 As busy therefore Stock Market Outlook of today(19-07-2022) is not being updated.

 Firstly rally continuation & finally

 15801-16275 will confirm 

next Short Term trend

Technical Analysis,Research & Weekly Outlook

(Jul 18 to Jul 22,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (15-Jul-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 with Double Zig-Zag pattern formation 

2- 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- Wave-X completion at 18114.70 on 04-04-2022

6- Wave-A completion at 15735.80 on 12-05-2021

7- Wave-B completion at 16793.80 on 03-06-2022

8- Wave-C completion at 15183.4 on 17-06-2022

9- Wave-A continuation with recent top formation at 16275.5 on 08-07-2022

10-Wave-A correction continuation with recent bottom formation at 15858.2 on 14-07-2022 

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

12- Stochastic:- %K(5)- 24.43 & %D(3)- 33.23.

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

14- MACD(26,12)- 252.20 & EXP(9)- 101.49 & Divergence- 150.71

Conclusions from EOD chart analysis

(Stochastic & MACD)

"ABC" correction continuation with Double Zig-Zag pattern formation and no confirmation of its completion yet on EOD charts.

In Stochastic its both lines are falling towards Over sold zone and not Oversold yet therefore some more down moves possibilities are still alive.

In MACD its both lines are rising in positive zone therefore showing upward trend formations and more up moves in the coming week also.

  

Nifty-Last 8 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Jul 06 to Jul 15,2022):-

Technical Patterns formation in last 8 Sessions intraday charts

1- Selling(Resistances) in last 8 Sessions are as follows:-

A- 16021-16070

B- 16064-16140 

C- 16101-16158 

D- 16198-16236 

2- Consolidation(Supports) in last 8 Sessions are as follows:-

A- 15928-15985

B- 15916-15859 

C- 15914-15948 

D- 15859-15916

3- Last 8 Sessions actual trading between 15801-16275 

Conclusions from 8 Sessions

intra day chart analysis 

Last 8 Sessions trading between 15801-16275 with above mentioned supports and resistances which are equally stronger. As last Friday closing at 16049.20 was almost at the centre of last 8 Sessions trading range therefore expected that Nifty will firstly trade and prepare for next decisive moves within this range and finally sustaining it beyond will confirm it.

Nifty-Intra Day Chart Analysis

(15-Jul-2022)

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

Technical Patterns formation in today intraday charts

1- Consolidation between 15928-15985 

2- Up moves with downward corrections

3- Whole day actual trading between 15928-16066

Conclusions from intra day chart analysis 

Although firstly slipping after positive opening but lower levels good consolidation developed between 15928-15985 therefore up moves were seen which remained continued till last minutes. As last 3 hours up moves were with downward corrections and intraday selling patterns were not seen last Friday therefore on going rally will remain continued in the beginning of next week also.

Conclusions

(After putting all studies together)

1- Long Term trend is down.

2- Intermediate Term trend is sideways.

3- Short Term trend is up.

Last 9 months "ABC" correction begun after impulsive Wave-5 completion at 18604.50 on 19-10-2021 and it is correcting that Waves structure which started from 7511.10 on 24-03-2020 through its impulsive Wave-1.

As MACD is showing upward trend formations and good consolidation patterns formations in last Friday intraday chart is also suggesting on going rally continuation therefore firstly decisive up moves will be seen towards above mentioned resistances in the beginning of next week. 

Last 8 Sessions trading between 15801-16275 with almost equal stronger supports and resistances within it therefore Nifty will firstly trade and prepare for next trend within this range. As finally sustaining beyond this range will confirm next Short Term trend and life/length of on going Wave-A correction also therefore should be firstly watched in the coming week.

15916-15859 will confirm next 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(15-07-2022)

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

Technical Patterns formation in today intraday charts

1- Selling between 16021-16070

2- Mixed Patterns formation between 15937-15979

3- Consolidation between 15859-15916

4- Whole day actual trading between 15859-16070

Conclusions from intra day chart analysis 

Although firstly up moves after positive opening but after that selling developed therefore not sustained at higher levels and down moves were seen which remained continued till last hours,

As Mixed Patterns formation in Mid-session and after that lower levels consolidation in last hours therefore up moves are expected in the coming sessions. 

Dow Jones is trading 01.18% down at this moment and such weaker US markets today closing will mean sentimental weakness tomorrow morning and in reaction Indian markets may also open in Red but lower levels consolidation was seen today therefore sustaining beyond 15916-15859 should be watched tomorrow for next decisive moves beginning confirmations.

 Levels will confiirm next 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(14-07-2022)

Nifty-Intra Day Chart (13-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 16064-16140

2- Down moves

3- Sideways trading between 15951-16007

4- Whole day actual trading between 15951-16140

Conclusions from intra day chart analysis 

Although positive opening but follow up selling developed therefore could not sustain at higher levels and down moves were seen in Mid-session. 

As sideways trading in last 2 hours between 15951-16007 therefore and one sided trading patterns were not seen therefore expected that Nifty will firstly traded within and near about this range as well as prepare for next decisive moves hence firstly valid break out of this range should be watched tomorrow for its confirmations.

 Correction continuation expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(13-07-2022)

Nifty-Intra Day Chart (12-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 16101-16158

2- Sharp fall in last hour

3- Whole day actual trading between 16032-16158

Conclusions from intra day chart analysis 

Following lines were told on 09-07-2022 in "Short Term Correction is on cards":-

1- strong indication of Short Term Correction beginning therefore it may begin any day in next week.

2- strong signal of correction beginning of that rally which started from 15183.4 on 17-06-2022.

As was told 100% same happened and Short Term Correction is being seen in this week.

As good selling in first 5 hours therefore sharp fall was seen in last hour and correction continuation is expected in the coming sessions also as well as until Nifty will not sustain above today highest after complete consolidation till then decisive up moves will not be seen.

 As not feeling well therefore Stock Market Outlook of today(12-07-2022) is not being updated.

 Short Term Correction is on cards

Technical Analysis,Research & Weekly Outlook

(Jul 11 to Jul 15,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (08-Jul-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 with Double Zig-Zag pattern formation 

2- 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- Wave-X completion at 18114.70 on 04-04-2022

6- Wave-A completion at 15735.80 on 12-05-2021

7- Wave-B completion at 16793.80 on 03-06-2022

8- Wave-C completion at 15183.4 on 17-06-2022

9- Wave-A continuation with recent top formation at 16275.5 on 08-07-2022 

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

11- Stochastic:- %K(5)- 93.77 & %D(3)- 85.13.

12- In MACD- MACD line has intersected Average line upward. Its MACD line is rising in positive zone and Average line is rising in negative zone. 

13- MACD(26,12)- 75.96 & EXP(9)- -193.52 & Divergence- 269.48

Conclusions from EOD chart analysis

(Stochastic & MACD)

Impulsive Wave-5 completed after new life time top formation at 18604.50 on 19-10-2021,this 5th wave was of that Waves structure which begun through its impulsive Wave-1 from 7511.10 on 24-03-2020. Now "ABC" correction of this Waves structure(7511.10-18604.50) is in continuation with Double Zig-Zag pattern formation and no confirmation of its completion yet on EOD charts. At present Wave-A is on after bottom formation at 15183.4 on 17-03-2022 and its recent top formation is at 16275.5 on 08-07-2022.

In Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising within Over bought zone. As it is strong indication of Short Term Correction beginning therefore it may begin any day in next week.

In MACD- MACD line has intersected Average line upward. Its MACD line is rising in positive zone and Average line is rising in negative zone. As it is first strong indication of upward trend formations therefore let firstly its Average line to move into positive zone then will get its confirmations 

 

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (08-Jul-2022):-

Technical Patterns and Formations in EOD charts

Averages:-

A- 5-Day SMA is today at 15998 

B- 21-Day SMA is today at 15748 

C- 55-Day SMA is today at 16194

D- 100-Day SMA is today at 16602 

E- 200-Day SMA is today at 17123

 

Conclusions from EOD chart analysis

(Averages)

Wave-A continuation with recent top formation at 16275.5 on 08-07-2022 which is well above 5-Day and 21-Day SMA therefore Short Term Trend has already turned up. As Nifty crossed and closed above 55-Day SMA(16194) last Friday and it is first indication of Intermediate Term Trend turning up therefore firstly sustaining it beyond should be watched in the coming 1/2 weeks for its turning up/down confirmations.

Nifty-EOD Chart Analysis

(Bollinger Band)

Nifty-EOD Chart (08-Jul-2022):-

Technical Patterns and Formations in EOD charts

1- Nifty closed above Upper Band of Bollinger Band in previous week

Conclusions from EOD chartanalysis

(Bollinger Band)

As Nifty closed above Upper Band of Bollinger Band in previous week after more than 1000 points rally therefore firstly sustaining beyond Upper Band should be watched in next week for rally continuation confirmations above it or Short Term correction beginning confirmations below it. 

Nifty-Intra Day Chart Analysis

(08-Jul-2022)

Nifty-Intra Day Chart (08-Jul-2022):-

Technical Patterns formation in today intraday charts

1- 55 Points sharp fall in first 14 seconds

2- Selling Patterns formation between 16198-16236

3- Whole day actual trading between 16158-16236

Conclusions from intra day chart analysis 

Although gap up strong opening last Friday but firstly 55 points sharp fall in first 14 seconds and after that selling Patterns formation was seen between 16198-16236 therefore if Nifty sustains below last lowest(16157.90) in next week then it will be strong signal of correction beginning of that rally which started from 15183.4 on 17-06-2022.

Conclusions

(After putting all studies together)

1- Long Term trend is down.

2- Intermediate Term trend is sideays and finally sustaining beyond its decider 55-Day SMA(16194) will confirm its trend.

3- Short Term trend is up.

Although MACD is suggesting signals of upward trend formation but Stochastic is showing Short Term correction strong indications and it is most expected also in next week therefore let expected Short Term correction complete then upward trend will be considered.  

As Nifty has closed above 55-Day SMA(16194) and Upper Band of Bollinger Band also in previous week therefore  firstly sustaining beyond these 2 indicators should be watched in next week amid Short Term correction beginning strong indications.

Wave-A continuation with its recent top formation at 16275.5 on 08-07-2022 and no confirmation of its completion yet on EOD charts but intraday chart of last Friday is showing selling patterns and indicators are suggesting that Short Term Correction is on cards therefore expected that firstly correction of Nifty will be seen and finally sustaining beyond Wave-A length(15183.4-16275.5) will confirm next trend.

 Rally continuation & remain cautious amid short term correction beginning possibility

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-07-2022)

Nifty-Intra Day Chart (07-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channels

2- Slow up moves

3- Whole day actual trading between 16046-16150

Conclusions from intra day chart analysis 

As intraday consolidation through Down moves in Bullish Falling Channels after gap up strong opening and as such intraday selling patterns therefore on going rally continuation is expected. Short term indicators have turned overbought therefore remain cautious also because firstly intraday selling and after that short term correction may begin any day.

 Watch next/last resistance amid 

globally crashing Crude oil prices

Nifty-Intra Day Chart Analysis & 

Market Outlook(07-07-2022)

Nifty-Intra Day Chart (06-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Sharp fall after positive opening

2- Consolidation between 15859-15903

3- Up moves in Mid-session

4- Consolidation between 15914-15948

5- Up moves in last hour

6- Whole day actual trading between 15801-16011

Conclusions from intra day chart analysis 

As Crude oil plummets more than $10 yesterday and traded below $100 also which is most favourable for Indian eeconomy therefore positive opening of Indian markets.

Good selling at higher levels was seen yesterday therefore firstly sharp fall for consolidation and after that up moves developed in Mid-session. As follow up also consolidation developed in Mid-session therefore  again up moves were seen in last hour and Nifty closed near the higher levels of the day.

Selling was seen between 15964-16025 yesterday and this range is next/last resistance of on going Pull Back Rally as well as Nifty clossed within it at 15989.80 today with after lower levels good consolidation therefore firstly sustaining beyond 15964-16025 should be watched tomorrow amid globally crashing Crude oil prices.

 Down moves continuation below

 today lowest

Nifty-Intra Day Chart Analysis & 

Market Outlook(06-07-2022)

Nifty-Intra Day Chart (05-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Sharp up after positive opening

2- Selling between 15964-16025

3- Crashing in last 2 hours

4- Whole day actual trading between 15786-16025

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Next resistances will confirm the life of on going rally":-

1- some up moves above today highest can not be ruled out

2- As Very Short indicators have turned Over bought and next resistances are lying just above today highest between 15869-15927 therefore firstly sustaining it beyond should be watched

As was told yesterday 100% same happened today and firstly up moves were seen but fresh selling developed between 15964-16025 which was above yesterday mentioned resistance range(15869-15927) therefore Nifty crashed in last 2 hours. 

Only intraday selling was seen and consolidation was not seen today therefore today started down moves will remain continued below today lowest in the coming session.

Next resistances will confirm 

the life of on going rally

Nifty-Intra Day Chart Analysis & 

Market Outlook(05-07-2022)

Nifty-Intra Day Chart (04-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Consolidation between 15662-15697

3- Up moves with downward corrections

4- Whole day actual trading between 15662-15852

Conclusions from intra day chart analysis 

Although firstly slipping after negative opening and Nifty traded 90 points weaker also but first hour Down moves were in Bullish Falling Channel and lower levels consolidation was seen between 15662-15697 therefore up moves started which remained continued till last half hour. As last 5 hours up moves were with downward corrections and intraday selling patterns were not seen today therefore some up moves above today highest can not be ruled out.

As Very Short indicators have turned Over bought and next resistances are lying just above today highest between 15869-15927 therefore firstly sustaining it beyond should be watched in the coming sessions for the life confirmation of on going rally.