Firstly watch 3 most crucial levels for next up Trend beginning confirmations

Technical Analysis,Research & Weekly Outlook

(Sep 16 to Sep 20,2019)

Nifty-Last 29 Sessions intraday charts analysis

Nifty-Intra Day Chart (Jul 31 to Sep 13,2019):-

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Technical Patterns formation in last 29 Sessions intraday charts

1- Last 29 Sessions trading with lower levels supports,higher levels selling and mixed Patterns formation  
2- 29 Sessions actual trading between 10638-11181 

Conclusions from 29 Sessions intra day chart analysis 

Nifty is trading and preparing for next big moves for the last 29 sessions between 10638-11181. Although Nifty closed at the top of week last Friday but still following resistances are lying within last 29 sessions trading range:- 

1- 11100-11141
2- 11147-11181

Follow up consolidation and finally sustaining above 11181 will mean minimum 5% sharp up moves which should be firstly watched in the beginning of next week.

Next supports below last Friday closing and within last 29 sessions trading range are as follows:-

1- 10946-10992
2- 10868-10904
3- 10817-10861 
4- 10747-10805

Nifty-Intra Day Chart Analysis(13-09-2019)

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

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Technical Patterns formation in today intraday charts

1- More than 3 hours consolidation between 10946-10992(Immediate Supports)
2- Last 2 hours up moves with intraday corrections.
3- Whole day actual trading between 10946-11084

Conclusions from intra day chart analysis 

As firstly more than 3 hours good consolidation therefore up moves with intraday corrections were seen in 2 hours and no selling patterns formations hence up moves continuation is expected towards next resistances(11100-11141).

Conclusions (After Putting All Studies Together)

As no material change on EOD charts in previous week therefore EOD charts Analysis is not being updated and same view on it which was posted in previous weekly Analysis

Long and Intermediate Term Trends are down and Short Term Trend is sideways between 10638-11181 for the last 29 sessions. 

Although finally sustaining beyond last 29 sessions trading range will produce big moves but firstly sustaining beyond immediate resistance range(11100-11141) should be watched in the beginning of next week because Short Term indicators have also turned over bought and Short Term correction can not be ruled out any day in next week. 

As follow up consolidation and finally sustaining above 11141 will produce first signal of 29 sessions trading range break out but Intermediate Term Trend will turn up after sustaining above 11181 and Long Term Trend will be up after moving above its decider 200-Day SMA(today at 11222). 

As previous week closing was at the highest of the week therefore firstly watch above 3 most crucial levels(11141,11181,11222) for next up Trend beginning confirmations. 

Firstly watch level for more than 100 points down moves confirmations

Intra Day Chart Analysis & Market Outlook

(13-09-2019)

Nifty-Intra Day Chart (12-Sep-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11039-11081
2- Slow down moves in last 2 hours
3- Whole day actual trading between 10965-11081 

Conclusions from intra day chart analysis 

Although Green closing yesterday but we told following lines at 10:55 PM yesterday in "Emergence of Short Term down moves possibility":- 

"higher levels selling patterns formations therefore emergence of Short Term down moves possibility"

We told for down moves under that Bullish sentiments when:-

1-Dow Jones was trading more than 125 points plus yesterday.
2-DAX(of Germany) closed 90 points up at 9 PM yesterday. 
3-FTSE(of England) closed 70 points up at 9 PM yesterday.
4-CAC 40(of France) closed 90 points up at 9 PM yesterday.
5-DIIs were net buyers in Equity cash by Rs 1132.42 Crores yesterday. 
6-FIIs were net buyers in all sections(Equity cash,Index Futures and Index Futures) 

Although all the Business Channels were also Bullish today morning but we were Bearish because:-

1- Higher levels selling patterns formations yesterday.
2- Selling was seen above 10990 last Monday also.

As all the Global markets were Bullish before Indian markets opening therefore firstly up moves were seen after positive opening but follow up selling developed ta higher levels therefore Nifty closed below 10990 today because selling was seen above it in the last 2 Green closing sessions.

Although today closing was near the lower levels of the day but last 2 hours down moves were slow therefore some buying can not be ruled out and firstly follow up moves with following levels should be watched for next decisive moves confirmations:-

1- Last 3 sessions selling was between 10990-11081 and until Nifty will not sustain above 11081 after complete consolidation till then next up moves will not be seen.
2- Immediate supports below today lowest are between 10868-10904

Although Nifty will firstly trade and prepare for next decisive moves between 10868-11081 but sustaining below 10990 will be strong indication of slipping below 10868 therefore should be firstly tomorrow for this more than 100 points down moves confirmations because Nifty has closed below it also today. 

Emergence of Short Term down moves possibility

Intra Day Chart Analysis & Market Outlook

(12-09-2019)

Nifty-Intra Day Chart (11-Sep-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11036-11054
2- Whole day actual trading between 11012-11054

Conclusions from intra day chart analysis 

As most Asian markets were Bullish and 2 were more than 1% up today morning therefore Green closing after whole day positive zone trading but higher levels selling patterns formations therefore emergence of Short Term down moves possibility.

As selling was seen above 10990 last Monday therefore once sustaining below it will mean sharp down moves.

Levels will confirm next moves

Intra Day Chart Analysis & Market Outlook

(11-09-2019)

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

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Technical Patterns formation in today intraday charts

1- Sharp up after weaker opening 
2- More than 4 hours Up moves in Bearish Rising Channel
3- Slipping from higher levels
4- Last Hour trading with Mixed Patterns formation
5- Whole day actual trading between 10890-11028

Conclusions from intra day chart analysis 

As good consolidation between 10868-10904 on 06-09-2019 therefore not slipping below it after weaker opening and sharp up moves were seen after getting supports within it last Monday. 

Nifty traded more than 4 hours with Up moves in Bearish Rising Channel which is first indication of fresh selling therefore Nifty slipped from higher levels but last Hour trading was with Mixed Patterns formations also hence more than 5 hours trading of last Monday will be understood with Mixed Patterns formation between 10967-11028 and firstly valid break out of this range should be watched tomorrow for:-

1- Above 11028 will mean up moves continuation towards next resistances between 11100-11141
2- Below 10967 will mean fresh down moves beginning towards next supports between 10868-10904

Break out of 25 sessions like big Nifty trading range will produce big moves

Technical Analysis,Research & Weekly Outlook

(Sep 09 to Sep 13,2019)

Nifty-EOD Chart Analysis(Corrective Waves)

Nifty-EOD Chart (06-Sep-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion after life time top formation at 12103.00 on 03-06-2019 and corrective Wave-A of "ABC" correction beginning
2- Corrective Wave-A continuation with recent bottom formation at 10637.15 on 23-08-2019
3- 25 Sessions sideways trading between 10638-11181

Conclusions from EOD chart analysis 

Corrective Wave-A of "ABC" correction continuation after Impulsive Wave-5 completion at 12103.00 on 03-06-2019. 

Last 25 Sessions sideways trading between 10638-11181 and finally sustaining beyond this range will confirm fate of Wave-A because above 11181 will mean strong rally after Wave-B beginning and Wave-A completion confirmation. Below 10638 will confirm Wave-A continuation towards next psychological level at 10000.

Nifty-Intra Day Chart Analysis(06-09-2019)

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

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Technical Patterns formation in today intraday charts

1- Consolidation between 10868-10904
2- Mixed Patterns formation between 10914-10957
3- Whole day actual trading between 10868-10957

Conclusions from intra day chart analysis 

As Most Asian markets were positive in the morning and Tax relaxation expectations from the Press Conference of Finance Minister Nirmala Sitaraman which was scheduled in Friday evening therefore good opening and firstly more than 2 hours consolidation as well as whole day up moves were seen.

Immediate resistances were between 10850-10940 and Nifty traded whole day within this range with lower levels consolidation and higher levels more than 3 hours trading with Mixed Patterns formation. 

As Indian markets have to react in next week on Press Conference therefore firstly sustaining beyond Mixed Patterns trading range(10914-10957) should be watched next Monday for its following impact on Indian stock markets:- 

1- Once sustaining above 10957 will mean sharp rally towards next resistances between 11100-11141
2- As good consolidation above 10868 therefore until complete fresh selling will not develop below 10914 till then decisive down moves will not be seen. 

Conclusions (After Putting All Studies Together)

Long and Intermediate Term Trends are down and Short Term Trend is sideways between 10638-11181 for the last 25 sessions. 

Finally valid break out of Short Term 25 sessions trading range will confirm fate of Long and Intermediate Term Trends because big moves will be seen after its break out.

Next supports within last 25 sessions trading range are as follows:-

1- 10868-10904
2- 10747-10805

Next resistances within last 25 sessions trading range are as follows:-

1- 11100-11141
1- 11147-11181

It is confirm that finally big moves will be produced after 25 sessions like big Nifty trading range valid break out. Let it happen till then trading strategies should be according to above given supports and resistances because Nifty will trade and prepare for those big moves within this 25 sessions range(10638-11181) in the next week/weeks.

24 Sessions sideways market break out confirmation from Levels

Intra Day Chart Analysis & Market Outlook

(06-09-2019)

Nifty-Intra Day Chart (05-Sep-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 10872-10920
2- Last 4 hours trading with Mixed Patterns formation between 10817-10861 
3- Whole day actual trading between 10817-10920

Conclusions from intra day chart analysis 

As Dow's Futures was trading more than more than 200 points up and all the Asian markets were trading in Green as well as some were more than 0.50% up therefore sentiment was Bullish today morning resultant firstly up moves seen after positive opening. 

More than 5 hours selling was seen between 10850-10940 on 03-09-2019 and fresh selling developed within this range today resultant this range has become stronger and immediate resistance of Nifty.

Nifty consolidated between 10747-10805 yesterday and Nifty traded whole day above it today. Selling was done between 10815-10858 yesterday and 4 hours trading with Mixed Patterns formation developed within it between 10817-10861 today. 

As Indian markets are trapped within lower levels supports and higher levels selling  therefore following trading ranges should be watched for next decisive moves beginning/confirmations:-

1- 10815-10861(First signal of next moves beginning)
2- 10872-10940(10940 for next up moves)
3- 10739-10805(10739 for next down moves)

24 Sessions sideways trading between 10638-11181 with higher levels resistances and lower levels supports. Although finally this range will confirm next big moves but as per present technical positions above given 3 Levels will signal/confirm 24 Sessions trading range break out. 

Firstly fresh technical positions formations and then Levels will confirm given next decisive moves

Intra Day Chart Analysis & Market Outlook

(05-09-2019)

Nifty-Intra Day Chart (04-Sep-2019):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Minor consolidation between 10747-10770
3- Consolidation between 10786-10805
4- Selling between 10815-10858
5- Whole day actual trading between 10747-10858

Conclusions from intra day chart analysis 

Although firstly slipping after flat opening but lower levels some consolidation developed therefore slow up moves were seen which converted into selling in the last more than 2 hours therefore today trading will understood with Mixed patterns formations.

Last support of the last 23 sessions trading range is between 10739-10772 and Nifty consolidated within and above it. Immediate resistances above today highest were between 10850-10940 and last hours selling was seen just below it today therefore fresh technical positions formations and sustaining beyond today trading range(10747-10858) tomorrow will confirm following decisive moves:-

1- Above 10858 will confirm some up moves but follow up consolidation is must because resistances above it are strong.
2- Below 10747 will mean breaking down of last supports of previous 23 sessions trading range which mean emergence of sharp fall possibility after it if break down will be forceful. 

Finally correction continuation 

Intra Day Chart Analysis & Market Outlook

(04-09-2019)

Nifty-Intra Day Chart (03-Sep-2019):-

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Technical Patterns formation in today intraday charts

1- More than 5 hours selling between 10850-10940
2- Down moves in last hour
3- Whole day actual trading between 10773-10940

Conclusions from intra day chart analysis 

As announcement of GDP growth falling to 6-yr low at 5% came after Indian markets closing hours last Friday therefore its reaction was seen today through much weaker opening and after that more than 5 hours fresh selling between 10850-10940 which was within immediate supports range(10875-10948)

3rd Supports between 10739-10772 was updated on 31-08-2019 in "Firstly watch Levels for the next 5% decisive moves" and Nifty formed today lowest at 10772.70. As this support is last support of last 22 sessions range(10638-11181) therefore once sustaining below 10739 will mean corrective Wave-A continuation towards news lows.

As Very Short Term indicators have turned oversold therefore only a dead cat bounce may be seen which will not be able to move above 10940 but slipping below 10773 after fresh selling will mean correction continuation below 10638 which is finally expected also.

Nifty Levels will confirm the impact of GDP growth falling to 6-yr low at 5% 

Pre-open Outlook(03-09-2019)

As negative surprise of GDP growth falling to 6-yr low at 5% in June quarter came after the closing of indian markets last Friday therefore Indian markets will firstly react on this negative news on next trading day i.e. 03-09-2019.

Although analysts were expecting GDP at 5.7% but it came much below it therefore indian markets will firstly react through weaker opening of Indian markets on 03-09-2019. As Nifty got supports and consolidated between 10875-10992 last Friday therefore firstly sustaining beyond this range should be watched for the confirmations of this negative news real imapact on Indian markets.

Firstly watch Levels for the next 5% decisive moves

Technical Analysis,Research & Weekly Outlook

(Sep 03 to Sep 06,2019)

Nifty-EOD Chart Analysis(Corrective Waves)

Nifty-EOD Chart (30-Aug-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion after life time top formation at 12103.00 on 03-06-2019 and corrective Wave-A of "ABC" correction beginning
2- Corrective Wave-A continuation with recent bottom formation at 10637.15 on 23-08-2019
3- 21 Sessions sideways trading between 10638-11181

Nifty-Last 21 Sessions intraday charts analysis

Nifty-Intra Day Chart (Jul 31 to Aug 30,2019):-

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Technical Patterns formation in last 21 Sessions intraday charts

1- Last 21 Sessions trading with lower levels supports,higher levels selling and mixed Patterns formation
2- 21 Sessions actual trading between 10638-11181 

Nifty-Intra Day Chart Analysis(30-08-2019)

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

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Technical Patterns formation in today intraday charts

1- Selling between 11003-11022
2- Consolidation in negative zone(below previous close(10948.30) between 10875-10948
2- Consolidation in positive zone(above previous close(10948.30) between 10948-10992
3- Whole day actual trading between 10875-11042

Conclusions from EOD chart analysis 

Corrective Wave-A of "ABC" correction continuation after Impulsive Wave-5 completion at 12103.00 on 03-06-2019. During on going correction Nifty got supports within those strong supports(10583-10694) levels which were updated on 03-08-2019 in "11080 will confirm only a strong Pull Back Rally amid finally correction continuation expectations" and Nifty is sustaining above it for the last 6 sessions after 505 points sharp jump in the next 3 sessions.

Conclusions from 21 Sessions intra day chart analysis 

As last 21 Sessions trading between 10638-11181 with lower levels supports,higher levels selling and mixed Patterns formations also therefore Nifty will firstly trade and prepare for next decisive moves within this range in next week and finally sustaining beyond this range will confirm it.

Conclusions from intra day chart analysis

As firstly selling therefore nifty slipped 149 points in first 3 hours and traded also 73 points down but Consolidated more than 1 hour in negative zone. Follow up consolidation also developed in positive zone therefore closing was seen near higher levels after sharp up moves in last hour. 

As lower levels good consolidation last Friday therefore up moves towards next resistances are expected in the beginning of next week.

Conclusions (After Putting All Studies Together)

Long and Intermediate Term Trends are down and Short Term Trend is sideways between 10638-11181 for the last 21 sessions. 

As last 21 sessions lowest(10638) is between those strong supports(10583-10694) levels which were updated on 03-08-2019 and 27.0% retracement levels(10677) is also lying within mentioned strong supports range as well as Nifty jumped 505 points in the next 3 sessions after the lowest formation at 10638 therefore Wave-B formation first signal emerged to correct the fall of Wave-A.

Next supports within last 21 sessions trading range are as follows:-

1- 10875-10992
2- 10810-10860
3- 10739-10772

Next resistances within last 21 sessions trading range are as follows:-

1- 11100-11141
1- 11147-11181

As above supports and resistances are within last 21 sessions trading range(10638-11181) therefore Nifty will firstly trade and prepare for next decisive moves within this range in next week and finally sustaining beyond this range will confirm following next more than 5% moves which should be firstly watched in next week:-

1- Above 11181 will be first strong signal and sustaining above Long Term Trend decider 200-Day SMA(today at 11209) will confirm formation of Wave-B to correct Wave-A fall from 12103 to 10638.
2- Below 10638 will mean Wave-A continuation towards 38.2% retracement level which is at 10086. 

Correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(30-08-2019)

Nifty-Intra Day Chart (29-Aug-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 10974-11019
2- Selling between 10982-11021
3- Down moves in Bullish Falling Channels
4- Whole day actual trading between 10922-11021

Conclusions from intra day chart analysis 

Although some consolidation at lower levels through Down moves in Bullish Falling Channels but higher levels good selling was also seen therefore correction continuation is expected.

As lower levels consolidation therefore valid break down of today lowest should also be watched because that will confirm sharp fall.

As busy therefore Stock Market Outlook of today(29-08-2019) is not being updated.

Follow up selling tomorrow will mean decisive down moves

Intra Day Chart Analysis & Market Outlook

(28-08-2019)

Nifty-Intra Day Chart (27-Aug-2019):-

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Technical Patterns formation in today intraday charts

1- Most time sideways trading between 11080-11141
2- At higher levels up moves in Bearish Rising Channels
3- Lower levels supports
4- Whole day actual trading between 11050-11141

Conclusions from intra day chart analysis

1st Resistances between 11086-11181 were updated yesterday in "Watch levels for rally continuation confirmations" and Nifty traded most time within this range today.

Although today closing was near the higher levels of the day but higher levels selling was also seen through up moves in Bearish Rising Channels. As today selling was within above mentioned resistance range therefore emergence of down moves possibility

As some supports were also seen at lower levels today therefore once follow up selling tomorrow will mean decisive down moves will be seen below today lowest. 

Watch levels for rally continuation confirmations

Intra Day Chart Analysis & Market Outlook

(27-08-2019)

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

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Technical Patterns formation in today intraday charts

1- Sharp down after strong gap up opening.
2- Whole day up moves with intraday consolidations
3- Whole day actual trading between 10757-11070

Conclusions from intra day chart analysis 

Although firstly sharp down after gap up opening but after that whole day up moves with intraday consolidations and selling patterns were not seen today therefore last Friday started rally continuation is expected. 

As Very Short Term indicators have turned overbought after last 2 sessions strong rally and following next resistances are lying just above today highest therefore fresh consolidation is firstly required for rally continuation:-

1- 11086-11181
2- 11200-11292
3- 11311-11393

Strong supports were told between 10583-10694 on 03-08-2019 in "11080 will confirm only a strong Pull Back Rally amid finally correction continuation expectations" and 27.0% retracement level(at 10677) is also within these supports as well as Nifty completed 27.0% retracement through lowest formation at 10637.15 last Friday therefore emergence of Wave-B beginning possibility because Nifty jumped 433 points in last 2 sessions after forming bottom within mentioned supports range and testing of 27.0% retracement level.

Long Term Trend decider 200-Day SMA is today at 11200 and above  mentioned multiple resistances after lying below and above 11200 therefore firstly sustaining beyond it should be watched for 1st strong signal of Wave-B beginning.

As above mentioned resistances are above 11086 therefore follow up complete consolidation is must and firstly its happening as well as sustaining above it should be watched for last Friday started rally continuation confirmations.

Levels will confirm Pull Back relief rally for testing 11000

Technical Analysis,Research & Weekly Outlook

(Aug 26 to Aug 30,2019)

Nifty-EOD Chart Analysis(Corrective Waves)

Nifty-EOD Chart (23-Aug-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion after life time top formation at 12103.00 on 03-06-2019 and corrective Wave-A of "ABC" correction beginning
2- Corrective Wave-A continuation with recent bottom formation at 10637.15 on 23-08-2019
3- Long Term Trend turning down confirmations through last 17 Sessions closing below Long Term Trend decider 200-Day SMA(today at 11196)

Nifty-Last 2 Sessions intraday charts analysis

Nifty-Intra Day Chart (Aug 23 & Aug 24,2019)

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Technical Patterns formation in last 2 Sessions intraday charts

1- Selling between 10815-10890(Immediate Resistances) on 22-08-2019
2- Follow up selling in last  hours on 22-08-2019
3- firstly 104 points sharp fall in first 30 minutes on 23-08-2019  
4- Up moves with consolidation on 23-08-2019
5- Consolidation between 10728-10792(Immediate Supports) on 23-08-2019
6- Consolidation between 10801-10860(Immediate Supports) on 23-08-2019
7- 2 Sessions actual trading between 10638-10908 

Conclusions (After Putting All Studies Together) 

Corrective Wave-A of "ABC" correction is very much on after Impulsive Wave-5 completion at 12103.00 on 03-06-2019. As during on going correction Nifty has closed 17 sessions below Long Term Trend decider 200-Day SMA(today at 11196) therefore Long Term Trend turning down 100% confirmation which means that correction will remain continued in the next months or may be year also.

Now Wave-A of "ABC" correction continuation and finally Wave-C will slip below the bottom of Wave-A also but between these 2 waves Wave-B will also develop which will move up but not cross the top of Wave-5(12103)

Following lines with levels were updated on 03-08-2019 in "11080 will confirm only a strong Pull Back Rally amid finally correction continuation expectations":-

Corrective Wave-A of that 5 Waves rally is very much on which started from 6825.80 on 29-02-2016 and finished at 12103.00 on 03-06-2019 after gaining 5278 points in 27 months and Nifty will correct whole this rally points-wise and time-wise.

Fibonacci Retracement levels of Wave-1 to Wave-5(6825-12103) are as follows which were updated in 2 previous Weekly Outlooks also:-

1- 13.0%-11,416(Retraced)
2- 23.6%-10,857(Retraced)
3- 27.0%-10,677
4- 38.2%-10,086(Crucial)
5- 50.0%-9,464(Crucial)
6- 61.8%-8,841(Crucial)
7- 70.7%-8,371
8- 76.4%-8,070
9- 78.6%-7,954 
10-88.6%-7,426

Next supports of Nifty are as follows:-

1- 10583-10694(strong)
2- 10540-10567
3- 10468-10494
4- 10347-10405

Next resistances of Nifty are as follows:-

1- 11086-11145
2- 11270-11361
3- 11467-11493
4- 11511-11543
5- 11637-11700

Expected that on going correction will stay long within above mentioned 1st supports(10583-10694) because multiple supports are lying between and just below it as well as 27.0% retracement levels is also within it at 10,677.

Strong supports were told between 10583-10694 on 03-08-2019 and Nifty jumped 225 points on 23-08-2019 after forming bottom within this range at 10637.15. 

Although good selling on 22-08-2019 but equally good consolidation also on 23-08-2019 and 225 points like sharp rally was also seen after getting supports within strong supports(10583-10694) therefore if follow up consolidation develop in the beginning of next week then Pull Back relief rally will be seen for testing 11000 because next resistances above 10890 after are lying near about 11000.

Correction continuation towards next supports

Intra Day Chart Analysis & Market Outlook

(23-08-2019)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10815-10890(Immediate Resistances)
2- Follow up selling in last  hours
3- Whole day actual trading between 10719-10908

Conclusions from intra day chart analysis 

As most Asian markets were weak and Hang Seng was more than 1% down therefore sentiment dampened today morning and resultant Nifty slipped 40 points in first 7 minutes.

Firstly more than 4 hours fresh selling within previous supports and between 10815-10890 as well as follow up selling in last  hours therefore today closing was at lowest level of on going correction. 

As Short Term indicators have turned oversold therefore dead cat jump may be seen but will not be able to sustain above 10890 because correction is very much on and finally will remain continued towards next supports between 10583-10694 which are strong enough.

Sideways market expectations

Intra Day Chart Analysis & Market Outlook

(22-08-2019)

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

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Technical Patterns formation in today intraday charts

1- Selling between 10988-11034
2- Selling between 10965-10982
3- Down moves in Bullish Falling Channel
4- Support between 10907-10924
5- Whole day actual trading between 10907-11034

Conclusions from intra day chart analysis 

As firstly good selling after opening and follow up selling in Mid-session also therefore whole day down moves. Some consolidation in last hours and supports getting at lower levels as well as following supports below today lowest therefore firstly some up moves are expected towards 10965 tomorrow:-

1- Supports between 10845-10898
2- Supports between 10784-10826

Immediate supports are above 10845 and immediate resistances are lying below 10965 therefore firstly sideways market is expected tomorrow between 10845-10965 and finally 10784-11034 will confirm next decisive moves 

As busy therefore Stock Market Outlook of today(21-08-2019) is not being updated.

11038 will confirm correction continuation

Intra Day Chart Analysis & Market Outlook

(20-08-2019)

Nifty-Intra Day Chart (19-Aug-2019):-

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Technical Patterns formation in today intraday charts

1- More than 3 hours selling between 11115-11146
2- Follow up selling in Mid-session
3- Mixed Patterns formation between 11038-11072
4- Whole day actual trading between 11038-11146

Conclusions from intra day chart analysis 

As all the Asian markets were trading with good gains after triple century gains by Dow Jones last Friday and its Futures was trading more than 150 points positive today morning therefore firstly up moves were seen in Indian markets after Green opening.

Although such strong Global sentiments today but Indian markets could not sustain at higher levels and closed near lower levels of the day after fresh selling at higher levels of the day and follow up selling in Mid-session of the day.

6 Resistances were updated on 17-08-2019 in "Crucial levels will confirm 3% moves" and Nifty could not sustain above 1st resistance(11070-11121) as well as closed below it after follow up selling within and below it therefore this resistance range has become stronger and correction continuation is expected towards those supports which have already been posted on 17-08-2019 in "Crucial levels will confirm 3% moves" 

As last hour trading at lower levels of the day with Mixed Patterns formation between 11038-11072 therefore firstly for precaution valid break out of this range should be watched for above mentioned correction continuation.

Crucial levels will confirm 3% moves

Technical Analysis,Research & Weekly Outlook

(Aug 19 to Aug 23,2019)

Nifty-EOD Chart Analysis(Corrective Waves)

Nifty-EOD Chart (16-Aug-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion after life time top formation at 12103.00 on 03-06-2019 and corrective Wave-A of "ABC" correction beginning
2- Corrective Wave-A continuation with recent bottom formation at
3- Last 11 Sessions trading with all means mixed Patterns formations between 10783-11181
4- Last 11 Sessions trading just below and near about Long Term Trend decider 200-Day SMA(today at 11178)

Nifty-Previous 11 Sessions intraday charts analysis

Nifty-Intra Day Chart (Jul 31 to Aug 16,2019):-

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Technical Patterns formation in last 11 Sessions intraday charts

1- Last 11 Sessions trading with lower levels supports,higher levels selling and mixed Patterns formation
2- 11 Sessions actual trading between 10783-11181 

Nifty-Intra Day Chart Analysis(16-08-2019)

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

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Slow up moves with intraday corrections
3- Last hour selling between 11039-11058 
4- Whole day actual trading between 10925-11068

Conclusions from EOD chart analysis 

Corrective Wave-A of "ABC" correction continuation after Impulsive Wave-5 completion at 12103.00 on 03-06-2019. During on going correction Nifty slipped below Long Term Trend decider 200-Day SMA(today at 11178) on 30-07-2019 and since then trading just below and near about it for the last 11 sessions between 10783-11181. 

Conclusions from 11 Sessions intra day chart analysis 

As last 11 Sessions trading between 10783-11181 with lower levels supports,higher levels selling and mixed Patterns formations also therefore firstly Nifty will trade and prepare for next decisive moves within this range in next week and finally sustaining beyond this range will confirm it.

Conclusions from intra day chart analysis 

Although firstly consolidation through Down moves in Bullish Falling Channel and after that more then 4 hours up moves also with intraday corrections but up moves were slow and last hour selling was also seen near higher levels therefore trading between 10925-11068 on 16-08-2019 will be understood with Mixed Patterns formations and sustaining beyond this trading range will generate only first signal of next decisive moves.

As multiple resistances are lying above 11068 therefore until nifty will not sustain above those resistances till then decisive up moves will not be seen.

Conclusions (After Putting All Studies Together)

1- Long Term Trend is down.
2- Intermediate Term Trend is down.
3- Short Term Trend is sideways between 10783-11181 for the last 11 sessions. 

Next resistances of Nifty are as follows:-

1- 11070-11121
2- 11140-11181
3- 11270-11361
4- 11467-11493
5- 11511-11543
6- 11637-11700

Next supports of Nifty are as follows:-

1- 10925-10970
2- 10845-10898
3- 10784-10826
4- 10583-10694(strong)
5- 10540-10567
6- 10468-10494
7- 10347-10405

As Nifty has turned sideways between 10783-11181 for the last 11 sessions after slipping below Long Term Trend decider 200-Day SMA(today at 11178) therefore it will confirm the fate of Wave-B because if nifty sustain above 11181 then decisive up moves will be seen after confirmation of Wave-B beginning and Wave-A completion at 10782.60 on 05-08-2019. If fresh selling develops and Nifty sustains below 10783 then Wave-A correction will remain continued towards next supports(10583-10694). 

As last 11 sessions trading range(10783-11181) has become crucial therefore Nifty will firstly trade within this range and finally valid break out of this range will confirm 3% moves in above mentioned manner.